Cannabis Market to Grow as California's Recreational Laws Take Effect - iCrowdNewswire
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Jan 12, 2018 2:10 PM ET

Cannabis Market to Grow as California’s Recreational Laws Take Effect

iCrowdNewswire - Jan 12, 2018

According to a research report published by Ameri Research, the global legal cannabis market size is projected to be worth USD 63.5 billion by 2024. The factors driving the market growth include the trend of legalization, increasing use of cannabis products for medical purposes, high tax revenues, and rising investment in R&D. In the United States there are 28 states which have approved the use of cannabis for medical purposes, and more number of states are expected to follow suit over the next few years. Growing user base for recreational cannabis in states such as ColoradoCaliforniaAlaskaMassachusettsWashington DC and other states is a key factor boosting the tax revenues. The report indicates that Colorado reported revenues exceeding 1.1 billion from the sale of cannabis products. Global Payout, Inc. (OTC: GOHE), OWC Pharmaceutical Research Corp. (OTC: OWCP), mCig, Inc. (OTC: MCIG), Kaya Holdings, Inc. (OTC: KAYS), AppSwarm, Inc. (OTC: SWRM)

California’s new recreational cannabis laws went into effect this month. New Frontier Data CEO, Giadha Aguirre de Carcer explained, “Significant changes are already underway in California for medical cannabis and adult use laws, which we see will have major implications for the cannabis industry, including ecommerce and delivery services in the state… As the largest state in the country – and the largest potential market for cannabis products – the implications for the growth of the industry because of California’s adult use market cannot be overstated.”

Global Payout, Inc. (OTC: GOHE) announced yesterday that, “its majority owned subsidiary, MoneyTrac Technology, Inc. (“MTRAC” “MoneyTrac”, the “Company”) has executed a Sales and Marketing Management Agreement with High Grade Management Group, Inc. (“HGMG”) to guide the development and implementation of a sales and marketing campaign to support the successful launch of HGMG’s Apple Vapes products.

Aiming to revolutionize and capture a significant share of the multi-million-dollar vape market space, HGMG has introduced Apple Vapes. This new line of products delivers innovative and high-quality vape pens, chargers, and oils to consumers and retailers in one of the fastest growing market spaces.

In addition to providing MTRAC with a direct source of revenue through the retainer they will receive for sales and marketing services, the agreement also serves as reinforcement of MTRAC’s expanding business development service arm which is directed towards the growing number of businesses in the underserved cannabis industry.”

Said MTRAC CEO, Vanessa Luna: “This Agreement is an excellent opportunity for MoneyTrac to play a strategic role in developing effective brand awareness for HGMG’s Apple Vapes product line. The support and expertise that I anticipate our business development team will be able to lend to HGMG will undoubtedly provide them with the invaluable tools and resources necessary to take full advantage of a rapidly expanding marketplace.”

Said HGMG CEO, Mark Glover: “As we look to capitalize on the multi-million-dollar vape industry, securing a partnership like this with MoneyTrac is absolutely vital in making sure we make a significant splash in this competitive market space as well as ensure that Apple Vapes is positioned to become a consistent revenue powerhouse by delivering the most innovative and top quality vape products to consumers and retailers in the industry.”

OWC Pharmaceutical Research Corp. (OTCQB: OWCP), through its wholly-owned Israeli subsidiary, One Word Cannabis Ltd., conducts medical research and clinical trials to develop cannabis-based pharmaceuticals and treatments for conditions including multiple myeloma, psoriasis, fibromyalgia, PTSD, and migraines. OWC is also developing unique delivery systems for the effective delivery and dosage of medical cannabis. On December 21, 2017, the company received a new permit from the Israel Medical Cannabis Agency [MCA] to proceed with the safety study of their oral disintegrating tablet. The study is scheduled to start in Q2 2018. In October of 2016 OWC announced that it had completed the development of a proprietary cannabinoid-enriched sublingual tablet for the administration of medical cannabis. The Tablet constitutes a smoke-free alternative for patients using medical cannabis.

mCig, Inc. (OTCQB: MCIG) is a diversified company servicing the legal cannabis, hemp and CBD markets via its lifestyle brands. mCig, Inc. is committed to being the leading distributor of technology, products, and services to fit the needs of a rapidly expanding industry. Recently, the company announced that its Grow Contractors (GC) division has secured an exclusive construction and management contract with a client in the state of FloridaFlorida’s evolving medical marijuana program has seen impressive growth with now more than 26,000 patients in Florida. Financial experts predict that the Florida medical marijuana market is on pace to break $1 billion, rivaling Colorado by 2020. The client is a long-time agricultural expert with over 22 years of greenhouse hydroponic vegetable production experience, which is one of the required state licensing criteria. Grow Contractors has been contracted to complete operational planning activities, provide engineering and design work for the production and extraction facility, assist with city construction permitting, and help with the competitive state application.

Kaya Holdings, Inc. (OTCQB: KAYS), through subsidiaries, produces, distributes and sells legal premium medical and recreational cannabis products, including flower, concentrates and oils, and cannabis-infused foods. On December 11, 2017, the company announced that it has completed the processes necessary to launch its own home delivery service in Portland and Salem Oregon. The Company expects to operate 4 cars initially, with additional cars to be added as demand requires and as the company expands into other cities in Oregon. Additionally, KAYS confirmed that it continues to discuss implementation options with its attorneys for its Kaya Cares Opioid-Cannabis Exchange Program and expects to be launching the program in January. “We have spoken with our attorneys and have worked with them to structure a program that will allow individuals currently using opioids for pain management to explore the efficacy of cannabis for their needs at no cost to them,” states CEO Frank.

AppSwarm, Inc. (OTC: SWRM) is a technology company specializing in the accelerated development and publishing of mobile apps. On November 29, 2017, the company announced that it has completed development plans with SinglePoint to conduct a shared roll-out of mobile applications specifically geared to solve issues in the cannabis space using the Blockchain technology and Bitcoin payment options. The Crypto and cannabis market is in need for technology solutions that can advance productivity and do it safely. AppSwarm and SinglePoint intend to develop mobile applications that address these needs by creating a system that allows a business to see what is going on in the market around them.

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