Advertisement

Topics

Cannabis Sector's Rising Sales and Increased Revenues Influencing Licensing Opportunities and New Payment Platforms

04:36 EDT 6 Jun 2017 | PR Newswire

PALM BEACH, Florida, June 6, 2017 /PRNewswire/ --

As the cannabis economy continues to mature with swelling sales and rising revenues, the legal marijuana industry companies are securing significant amounts of funding to expand operations, introduce latest products and services as well as create new revenue stream opportunities. Emerging and advancing cannabis and legal marijuana companies in the markets this week include: Glance Technologies Inc. (OTC: GLNNF) (CSE: GET.CN), MYM Nutraceuticals Inc. (CSE: MYM.CN), Mountain High Acquisitions Corp. (OTC: MYHI), United Cannabis Corporation (OTC: CNAB) and Weed, Inc. (OTC: BUDZ)

Glance Technologies Inc. (OTCQB: GLNNF) (CSE: GET.CN) is pleased to announce the closing of the first licensing payment of $200,000 towards a $1,000,000 fee and an amendment to its licensing agreement with Cannapay Financial Inc.

"Through the alliance between Glance Technologies and Cannapay, we already have strong interest in licensing the Glance Pay payment platform from U.S. entities in the cannabis space," says Penny Green, President and COO of Glance, "Also, we have received many requests from emerging cannabis-related companies throughout North America for all kinds of financial services, from equipment leasing to merchant processing." Read this and more news for Glance Technologies at: http://www.marketnewsupdates.com/news/glnnf.html

Cannabis sales totaled $6.7 billion in 2016 and the industry is growing larger and faster than the dot-com era. The dot-com era grew at a rate of 22%, while cannabis is growing at 30% in its early stages.

"The only consumer industry categories I've seen reach $5 billion in annual spending and then post anything like 25% compound annual growth in the next five years are cable television (19%) in the 1990s and broadband Internet (29%) in the 2000s," says Tom Adams, Editor in Chief of Arcview Market Research. "You will not find another multi-billion dollar market growing at a 25% compound annual growth rate anywhere in the world that is not already filled with multi-national companies and institutional investors," says Troy Dayton, CEO of Arcview Market Research, "That's part of what makes the cannabis industry such a unique opportunity for investors and entrepreneurs."

In other industry news and developments of note: 

Mountain High Acquisitions Corp.  (OTCQB: MYHI) closed up slightly on Monday at $0.182 trading over 1.4 million shares by the market close. Mountain High Acquisitions Corp. announced late last month that it has entered into an agreement with D9 Manufacturing, Inc., an Arizona-based company that offers a wide variety of engineering, manufacturing and consulting services to the cannabis sector. MYHI has engaged D9 to assist in the identification, acquisition, and development of infrastructure and technology opportunities in the burgeoning cannabis market.

MYM Nutraceuticals Inc. (CSE: MYM.CN) (OTCQB: MYMMF) closed up 5.26% on Monday after trading north of 3 million shares by the end of the day. MYM Nutraceuticals is a public company trading on the Canadian Stock Exchange whose primary focus is developing high-end organic medicinal marijuana supplements and topical products. MYM also has an interest in the development of high-density farming facilities and technologies that allow MYM to expand its brand into the global market.

United Cannabis Corporation (OTCQB: CNAB) closed up 28.51% on Monday at $1.12 after trading over 1 million shares on the day. United Cannabis recently announced it has made progress in initiating clinical trials for its proprietary Prana Bio Medicinals cannabinoid compounds. Using a patent-pending technology, the company infuses cannabinoids, terpenes, and flavonoids without the use of any heat, solvents, or chemicals to produce 100% natural products. Read the full release here: https://finance.yahoo.com/news/united-cannabis-near-term-cannabinoid-185055372.html

Weed, Inc. (OTC: BUDZ) closed up 26.52% at $1.67 and traded just shy of 1 million shares on the day. WEED Inc. is a multi-national, multi-faceted, vertically-integrated world-class cannabis organization. WEED is structured as a holding company doing business through its divisions, wholly-owned subsidiaries, and strategically placed collaborative partners to achieve and promote our global brand. WEED is dedicated to its global goals and outreach across the full spectrum of the cannabis industry to find treatments and medical cures utilizing the Cannabaceae plant family.

DISCLAIMER: MarketNewsUpdates.com (MNU) is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. MNU is NOT affiliated in any manner with any company mentioned herein. MNU and its affiliated companies is a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. MNU's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. MNU is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed MNU has been compensated four thousand nine hundred dollars for news coverage of the current press release issued by Glance Technologies Inc. by a non-affiliated third party. MNU HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. 'Forward-looking statements' describe future expectations, plans, results, or strategies and are generally preceded by words such as 'may', 'future', 'plan' or 'planned', 'will' or 'should', 'expected', 'anticipates', 'draft', 'eventually' or 'projected'. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and MNU undertakes no obligation to update such statements.


Contact Information:
Media Contact:  
info@marketnewsupdates.com
+1-(561)-325-8757

SOURCE MarketNewsUpdates.com

NEXT ARTICLE

More From BioPortfolio on "Cannabis Sector's Rising Sales and Increased Revenues Influencing Licensing Opportunities and New Payment Platforms"

Quick Search
Advertisement
 

Relevant Topics

The Top 100 Pharmaceutical Companies
Top 10 biotech and pharmaceutical companies worldwide based on market value in 2015 2015 ranking of the global top 10 biotech and pharmaceutical companies based on revenue (in billion U.S. dollars) Johnson & Johnson, U.S. 74...

Alliances, mergers acquisitions and partnerships
BioPortfolio's alliances, mergers acquisitions and partnerships channel provides the latest news and corporate information on the global bio-pharmaceutical industry.

Collaborations in biotechnology
Commercial and academic collaborations are used throughout the biotechnology and pharmaceutical sector to enhance research and product development. Collaborations can take the form of research and evaluation agreements, licensing, partnerships etc. ...