$mdcn, June 16, 2015 / More states are jumping on board the cannabis train and this industry has certainly begun to evolve since Colorado first came online as America's original legal state. Despite the recent uproar concerning the decision for business owners not to condone cannabis use (medical or otherwise), the market continues to take a liking to this industry because it is, in fact, just beginning to blossom. Aside from popular belief, this space isn't full of growers alone, there is an entire economy growing around the idea. Businesses are sprouting up with ideas from anything like cannabis vacation destinations to hemp infused beverages and anything in between. Companies like FBEC Worldwide (FBEC), the Maryjane Group (MJMJ) and GrowBLOX Sciences, Inc. (OTCQB:GBLX) have all begun to see interest building around their novel concepts.
FBEC Worldwide has been gaining traction since May. From low prices of $0.004 to highs of $0.12, this cannabis stock has run up more than 3,100%. FBEC has restructured management and placed a new CEO at the helm. Under the new regime, Robert Sand, CEO of FBEC, has begun to clean up the company's share structure after having previously announced that management will focus on cleaning up unfavorable financing. Furthermore, FBEC has moved forward with the development of its proprietary hemp infused energy drinks. Last week the company announced that it has entered into a commercial supply agreement with J&D Labs, Inc. to manufacture hemp-based nutraceuticals. "We are making a commitment with J&D Labs that would meet our longer term objectives in manufacturing our future hemp-based nutraceutical products. On a regular basis, we, along with leading researchers around the world, regularly uncover additional uses and benefits of hemp as a supplement and additive," stated Sands.
The Maryjane Group has also begun to gain notoriety within this growing market after announcing that it will be offering the first Cannabis Resort to open in the US. Labeled "CannaCamp" this destination combines recreational cannabis use and education with a traditional ranch experience to create the country's "first-ever cannabis resort. CannaCamp is now accepting reservations for this year's summer season, July 1 - October 31." In response to this, the market has briefly exploded with interest as shares jumped from $0.0015 to highs of $0.0137. During the week of June 15, MJMJ stock price has settled around $0.003 for the first half of the week leading up to the Father's Day weekend.
Finally, GrowBlox Sciences has begun to find reinterest in the stock market. A company that focuses on pharmaceutical grade cannabinoid therapies recently announced that it has received a $1.75 million funding commitment to enable GrowBLOX to complete construction and set-up operations at their MME Cultivation Facility in Las Vegas, Nevada. Pacific Leaf Ventures, LP has provided both the capital infusion and a license for their intellectual property including recognizable brand names of cannabis and proprietary know-how for cultivation and cannabis extractions. This news has sparked more action for the stock. After falling to lows of $0.151 in March, shares of GBLX have jumped more than 100% and on some days, nearly 400% as the stock has climbed as high as $0.74 in May.
