Sales of Legal Cannabis Products Continues to Accelerate
NEW YORK, February 27, 2018 /PRNewswire/ --
According to a report by Hexa Research, the U.S. medical cannabis market is projected to reach $19.48 billion by 2024. The anticipated growth is driven by the intensifying acceptance of medical advantages associated with cannabis, particularly for patients dealing with cancer, diabetes and chronic pain. Symptoms and conditions that may be treated with cannabis products include, cancer, HIV, AIDS, Alzheimer's disease, and multiple sclerosis. Chronic pain accounted for 46 percent of the U.S. cannabis medical market share in 2016. According to the research, the solid cannabis edibles segment in 2016, within the U.S. market generated $2.47 billion in revenue and is expected to continue to dominate the cannabis industry to 2024. Micron Waste Technologies Inc. (OTC: MICWF), Freedom Leaf, Inc. (OTC: FRLF), mCig, Inc. (OTC: MCIG), GB Sciences, Inc. (OTC: GBLX), United Cannabis Corporation (OTC: CNAB)
The growing cannabis market is expected to have positive economic benefits, such as creating more jobs and generating tax revenue. According to MG News, Vivien Azer of Cowen & Co. said in a report: "When you consider ancillaries such as growers, testing labs, security, etc., the economic impact could range from $12.7 to $22.6 billion. Of note, these numbers do not include the impact of tourism, business taxes, licensing fees and paraphernalia sales, which could drive the economic impact higher."
Micron Waste Technologies Inc. (OTC: MICWF) also listed on the Canadian Stock Exchange under the Ticker 'MWM'. Earlier today Micron Waste Technologies announced breaking news that, "the Company has engaged the services of renowned engineering consultancy, BC Research Inc. to accelerate the commercialization process of its waste digester technology for the cannabis industry.
Micron has developed a new technology, based on aerobic digestion and subsequent treatment, that converts organic waste into clean water that meets municipal effluent discharge standards. The effluent from currently available digester-based treatment systems of organic waste does not meet municipal discharge standards and requires costly further treatment. Many organizations that generate organic waste currently use municipal landfill sites for their organic waste, which is costly and has a negative impact on the environment. The merits of Micron's technology have been successfully demonstrated with a grocery supermarket chain located in British Columbia, Canada, and Micron has entered into a Memorandum of Understanding with the group to plan for additional installation of Micron's organic waste digester units at other locations in BC.
Per the Company's press releases of January 15, 2018 and December 19, 2017, Micron has completed a strategic partnership with Aurora Cannabis for the optimization of the Company's technology for the cannabis industry. The companies are currently progressing well with the preliminary research towards the installation of the first unit at one of Aurora's cultivation facilities, anticipated for the second calendar quarter of 2018.
Micron has now engaged the services of renowned engineering consultancy BC Research, which has a strong track record in helping commercialize new technologies. BC Research, which predominantly works with large enterprises on process research, custom engineering, pilot plant services, also provides access to a vertically integrated technology development and commercialization ecosystem.
The work with BC Research, which is conducted in parallel with the Aurora Project, serves to deliver a unit that functions in a broad temperature range, making it suitable for deployment on a global scale in wide range of climates. Furthermore, leveraging BC Research`s deep expertise in commercializing technologies, the project aims to develop a digester unit suitable for mass production.
The new unit, which will form the blue print for subsequent commercial units, will be installed at one of Aurora Cannabis's cultivation facilities for validation in this particular industry. Micron therefore anticipates accelerating time to market for its technology, enabling the Company to commence penetration of the cannabis sector. The optimization for temperature range will significantly increase the marketability of the technology to a range of other industries."
"We are extremely pleased to be working with BC Research and Aurora Cannabis to develop a market-ready Micron Cannabis Waste Digester," said Rav Mlait, CEO. "The enhanced features requested by our clients are anticipated to accelerate commercial adoption and make Micron's technology more attractive to cannabis producers seeking a less costly, more convenient, and "greener" means of handling organic waste. We anticipate that the results from our efforts with Aurora Cannabis will not only accelerate our entry into this sector, but allow us to leverage the results to develop access to large new markets."
"We are excited to be part of this project. The potential applicability of Micron's technology to a wide range of industrial challenges makes it an attractive reason for our organization to be engaged. Tackling some of the cannabis cultivation industry's needs is an example of where the technology may fit well, and it provides another opportunity to demonstrate the technology in a very different industrial application.", stated Sergio Berretta, vice president and COO at BC Research. "We look forward to bringing our expertise in commercializing new technologies to the Aurora-Micron project, and are excited about the broader potential of the Micron Waste Digester."
Freedom Leaf, Inc. (OTCQB: FRLF) is a leading, go-to resource in the cannabis, medical and recreational marijuana, CBD and industrial hemp industries. On January 31, 2018, the company announced a joint venture supply partnership with NutraFuels, Inc. Freedom Leaf CEO Cliff Perry announced, "We have created a strong relationship with NutraFuels as they assisted us in the formulation, blending and private labeling our Ayurvedic Breathable Vapor Oils that are the flagship product in our Hempology (R) line of Full Spectrum Whole-Plant Hemp Extracts."
mCig, Inc. (OTCQB: MCIG) is a diversified company servicing the legal cannabis, hemp and CBD markets. mCig, Inc. is committed to being the leading distributor of technology, products, and services to fit the needs of a rapidly expanding industry. On January 29, 2018, the company has announced plans to launch an innovatively advanced hemp CBD-based formula for pets. The decision to expand into the pet products industry was based on extensive research conducted on customer and supplier inquiries. Comparison of research on how cannabinoids (including CBD) affects the human and animal body has shown that their effects share close similarities in interaction with endocannabinoid system (ECS). Dogs and Cats were specifically found to share up to 70% biological homology with humans. Highly promising scientific conclusions indicate that CBD interacts in a similar way in canines and felines as it does in humans. Specifically, cannabinoid binding to ECS receptors within the dog and cat body can provide a longer lasting therapeutic effect without a risk of toxicity.
GB Sciences, Inc. (OTCQB: GBLX) is a diverse cannabis company, focused on standardized cultivation and production methods; as well as biopharmaceutical research and development. Recently, the company has been issued its production license and now begins full production operations in the Las Vegas, Nevada facility. Production license partners include Relax With Happy(TM) ("RWH"), a new venture co-founded by veteran cannabis chef, Deliciously Dee(TM), and Cura Cannabis Solutions, maker of the best-selling cannabis brand on the West Coast, Select Oil. Given already announced contractual arrangements with those production partners, operations are expected to generate significant monthly free cash flow after a ramp up period of approximately two months.
United Cannabis Corporation (OTCQB: CNAB) is a biotechnology company dedicated to the development of phyto-therapeutic based products supported by patented technologies for the pharmaceutical, medical, and industrial markets. The Company has long advocated the application of cannabinoids for medical applications and is building a platform for designing targeted therapies to increase the quality of life for patients around the world. On February 15, 2018, the company announced that Jamaica's Ministry of Health has approved its entire patent-protected Prana collection for use by registered medicinal cannabis patients. The Prana Collection is the foundation of the Company's cannabis-centric formulations, which patients have found effective in helping manage the symptoms of arthritis, neuropathy, acute pain, joint aches, muscle tension, muscle spasms, muscle recovery, migraines, and various skin conditions.
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