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NEW YORK, July 31, 2017 /PRNewswire/ --
According to a report published by New Frontier Data, the legal cannabis market is worth about $6.6 billion in 2016 and is expected to reach $24 billion by 2025, with a compound annual growth rate of 16 percent. Recreational cannabis sales are expected to experience faster growth than sales for medical use. The report indicated that sales for adult use are projected to grow at a 21% GAGR to $10.9 billion during the same forecasted period, while cannabis for medical use is estimated to grow from $4.7 billion in 2016 to $13.3 billion by 2025.
Marijuana Company of America, Inc. (OTC: MCOA), mCig Inc. (OTC: MCIG), Easton Pharmaceuticals, Inc. (OTC: EAPH), Cannabis Science, Inc. (OTC: CBIS), Surna Inc. (OTC: SRNA)
Giadha Aguirre De Carcer, CEO of New Frontier Data, stated, "Cannabis stocks significantly outperformed major indexes in 2016, fueled by speculative investment based on anticipated expansion of new legal markets. In the run up to the election, stocks increased by 207.8% and continued to rise, even with an uncertain future under the new administration. While recent comments by the Trump administration did have an initial dampening effect on the market, we have seen continued growth relative to Q4 2016 whereby cannabis stocks are still outperforming other sectors"
Marijuana Company of America, Inc. (OTC: MCOA) announced last week that, "it has completed an investment of $250,000 into MoneyTrac Technology, Inc. ("MTT"), a subsidiary of Global Payout, Inc. in exchange for a 15% ownership interest."
MCOA made this investment to help establish and market MTT as an alternative banking solution for the cannabis industry. MoneyTrac's software has the ability to integrate and streamline electronic payment processing, such as E-Wallet and mobile applications, as well as manage and process prepaid cards, debit cards, and credit card payments.
As part of the terms of the investment, Donald Steinberg, CEO and President of MCOA, was appointed to the board of MTT this year where he is lending the invaluable experience he has acquired throughout his career in building alternative financial solution companies to the MTT executive management team.
"We are excited to help guide MTT through its developmental stages and are optimistic about the potential of MCOA's investment into this new project. This is another example of MCOA's strong strategic partnerships with emerging companies in our industry," Donald Steinberg said.
mCig Inc. (OTCQB: MCIG), a diversified company servicing the legal cannabis, hemp and CBD markets, announced on July 17th, the latest project updates for Grow Contractors, in addition to the latest expansion of its cannabis supply division into the California cannabis market with record sales driven by recent recreational legalization in Nevada. "Grow Contractors is doing exceptionally well, building faster and taking on more projects, with years of growth ahead. The recent influx of requests in Nevada alone will keep us busy in the foreseeable future. Nevada will be working many years to fulfill the demands of this budding industry, and Grow Contractors will be there to support and provide service along the way," says Robert Kressa, CEO of Grow Contractors.
Easton Pharmaceuticals, Inc. (OTC: EAPH) is a diversified specialty pharmaceutical company involved in various pharmaceutical sectors and other growing industries. The company announced on May 24th, that it has signed a Letter of Intent with Canadian Alliance Group to acquire an interest in their 45 acre fully owned parcel of land for the cultivation, production and sale of medical marijuana to the cannabis industry. This agreement would give Easton Pharmaceuticals a strong position into the pharmaceutical production of cannabis
Cannabis Science, Inc. (OTC: CBIS) takes advantage of its unique understanding of metabolic processes to provide novel treatment approaches to a number of illnesses for which current treatments and understanding remain unsatisfactory. Recently, the company announced that it has found a California facility ideal for its large-scale manufacturing and product distribution center as it ramps up its efforts to supply cannabinoid medications in high-demand by self-medicating patients. As Nevada's Governor issues a Statement of Emergency due to the potential of limited cannabis availability, CBIS is actively looking for a similar facility in Nevada.
Surna Inc. (OTCQB: SRNA) develops and markets novel energy and resource-efficient solutions, including the company's signature water-cooled climate control platform, which meet the highly specific demands of the cannabis industry for temperature, humidity, light and process control. Earlier this year, the company announced that it signed a contract with Vancouver's Sante Veritas Therapeutic to design and provide equipment for the environmental control system in its first commercial cultivation facility. Surna expects to ship and recognize revenue of $835,000 in the third quarter of 2017. "Cannabis for medical use is legal throughout all of Canada, making the market an outstanding opportunity for continued growth," said Surna CEO Trent Doucet.
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