GB Sciences Inc (GBLX)

[Supermeatball]

Legal Cannabis Market Continues to Mature.

A report published by Arcview Market Research, indicates that the legal cannabis industry will grow at 22% CAGR in 2017, as the eight states that voted to open or expand their cannabis markets on Election Day in November 2016, will work to implement new businesses, programs and products. According to the report the industry accelerated at a remarkable pace in 2016. North American consumers spent $6.7 billion on legal cannabis products, which represents an increase of 34% from 2015. The data forecasts the legal cannabis industry will grow robust 27% CAGR to $22.6 billion by 2021. Global Payout, Inc. (OTC: GOHE), Greengro Technologies, Inc. (OTC: GRNH), Cannabis Science, Inc. (OTC: CBIS), Surna, Inc. (OTC: SRNA), GB Sciences, Inc. (OTC: GBLX)

A major issue the legal cannabis market has to deal with is raising money. Because of discrepancy between states and federal laws, banks still often are not willing to open checking accounts and do not lend money for cannabis business. A report by paymentssource.com indicates that a shop that handles its payments electronically is less able to commit tax fraud and less likely to be a target of theft. As result, some concerns that financial institutions have may be dealt with. "You're starting to see a tendency, a healthy capitalistic tendency, for banks and credit unions that know they are missing out on or losing money by not working with marijuana businesses," said Serge Chistov, an investor and financial consultant for Honest Marijuana, a recreational grow house in Denver, Colorado.

GB Sciences, Inc. (OTCQB: GBLX) is a diverse cannabis company, focused on standardized cultivation and production methods; as well as biopharmaceutical research and development. On October 23, 2017, the company announced that it projects sales of $500,000 in October and continued sales of at least $500,000 per month over the next three months. GB Sciences recorded unaudited sales of approximately $320,000 in the three months ended 9/30/17. The company is operating at 200 grow lights, which is only 30% of its expected final capacity after build out is completed. After the final build out, cultivation revenues will continue to increase with a target flower capacity of $18Million annually. The company is expected to open its production facility in late November or early December of 2017. This operating unit should generate additional significant free cash flow from oil over 2018 at a steadily accelerating pace.

https://www.prnewswire.com/news-releases/legal-cannabis-market-continues-to-mature-659060073.html