Positive PR on MCIG
Global Legal Cannabis Sales Projected to Grow
BY PR Newswire
— 9:00 AM ET 09/19/2017
NEW YORK, September 19, 2017 /PRNewswire/ --
According to a research published by Ameri Research Inc., the global legal cannabis market was valued at $14.3 billion in 2016. The market is forecast to grow at a CAGR of 21.1% between 2017 and 2024, while reaching a value of $63.5 billion in global sales in 2024. The legal cannabis market is witnessing robust growth in part thanks to the increasing legalization and decriminalization of cannabis across North America and Europe. The rising demand of cannabis for recreational use and medical use is a key factor driving the growth in sales in the industry. The report points out that due to the complex regulatory structure at state level and federal level, the full potential of the market is not yet realized. Global Payout, Inc. (GOHE) , mCig, Inc. (MCIG) , 22nd Century Group Inc. (XXII) , Easton Pharmaceuticals, Inc. (EAPH) , AXIM Biotechnologies, Inc. (AXIM)
One major obstacle of the legal cannabis market is to raise money. Because of discrepancy between some states and federal laws the banks still refuse to open checking accounts and do not lend money for cannabis business. According to an article by Forbes debt and equity financing resources exist for the cannabis industry are becoming more available. Scott Jordan who works with entrepreneurs in the industry as director of business development for Colorado-based Dynamic Alternative Finance, explained, "We're seeing some lenders that are looking for higher yields and returns, venturing into this space," he said according to the article. "In terms of equity, we also are seeing some of the larger hedge funds and other family offices," getting involved in cannabis finance, Forbes reported.
Global Payout, Inc. (GOHE) announced breaking news yesterday that executive management members of its majority owned subsidiary, MoneyTrac Technology, Inc. ("MTRAC", the "Company") successfully represented the Company this past week at the 4th annual Cannabis World Congress & Business Exposition held in Los Angeles, CA. The expo has become one of the most prominent cannabis-related conferences held in the U.S. and brings together exhibitors who feature the latest technologies, solutions, and resources for businesses operating within the cannabis industry. While in attendance at the expo, members of the Company's executive management team, including Vanessa Luna, COO, strategically utilized it as an opportunity to network with other key figures and business owners throughout the industry to effectively promote and represent the MTRAC brand.
"Representation at events such as this present such a unique and powerful opportunity to grow our presence and establish new partnerships within an industry that is incredibly tight-knit and yet growing at an unprecedented rate," said MTRAC COO, Vanessa Luna. "I am encouraged by the many different connections we established during this expo, and I am optimistic about the likelihood of a decent number of them possibly materializing into new partnerships for our company at some point in the near future," Ms. Luna further remarked.
mCig, Inc. (MCIG) , a diversified holdings company servicing the legal Cannabis, Hemp, and CBD markets, 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 it is concluding efforts to raise up to $3 million under a private placement to qualified accredited investors for the expansion of its operations. MCIG (MCIG) continues to expand its Merchant Services capabilities along with adding improved methods of purchasing cannabis and CBD products.
22nd Cetury Group Inc. recently announced that, research collaboration with North Carolina State University has yielded several new Very Low Nicotine (VLN) tobacco varieties that contain no foreign DNA and no trace of genetic modification. The new Very Low Nicotine varieties are ideally suited for use in the Company's X-22 smoking cessation product in development and will also form the basis of other unique 22nd Century VLN products.
Easton Pharmaceuticals, Inc. (EAPH) is a diversified specialty pharmaceutical company involved in various pharmaceutical sectors and other growing industries. On August 16, 2017, the company announced it has advanced $575,000 towards its acquired interest in 45 acres of a 135-acre fully owned parcel of land for the cultivation, production and sale of medical / recreational marijuana to the cannabis industry and towards other revenue producing businesses. Pursuant to the agreement, Easton Pharmaceuticals (EAPH) has thus far paid $575,000 CDN of $1.3 million CDN to Toronto based Alliance Group to acquire an interest in 45 acres of agriculturally zoned land north of Toronto, Ontario, Canada to cultivate, produce and facilitate the sale of its production of medical marijuana and other lucrative revenue producing businesses on a co-managed basis. Alliance has already initiated the process to legally grow medical / recreational marijuana which it anticipates receiving and conveying positive news on within the next 30 to 60 days.
AXIM Biotechnologies, Inc. (AXIM) focuses on the research, development and production of cannabis-based pharmaceutical, nutraceutical and cosmetic products. On May 2, the company announced that the company's product development partner Quay Pharmaceuticals Ltd. has obtained the relevant licenses from the British Home Office to import and work with the controlled drugs that are required to continue the development of AXIM's MedChew Rx® pharmaceutical chewing gum's family of products. To develop and produce the MedChew Rx® family of chewing gums, AXIM Biotech works with its partners to procure cannabis strains, extract and purify the strains into pharmaceutical-grade cannabinoids, develop and produce the cannabinoid-containing chewing gum products and afterwards undertake clinical trials.
AI
