News from last week Green Cures & Botanical Distribution, Inc. Reviews Options in CBD Space with Purple Haze Properties
GlobeNewswire•September 28, 2017Comment
LOS ANGELES, CA , Sept. 28, 2017 (GLOBE NEWSWIRE) -- Green Cures and Botanical Distribution Inc. (OTC PINK: GRCU), an innovative hemp-infused nutrition, botanical, sports, and body care products company, has recently begun reviewing options for entry into the CBD space, with prospective partner, Purple Haze Properties.
Forbes has estimated that the CBD market will grow by 700% by 2020, and a variety of other industry reports have come out with similar expectations. As more and more jurisdictions pass pro-cannabis legislature and more scientific research is completed, this market is poised for rapid growth. Due to the impressive growth potential in the sector, Green Cures & Botanical Distribution, Inc. has asked industry expert and Purple Haze Properties CEO, Andrew Pitsicalis, to join the GRCU team as a Brand & Marketing Consultant.
“We are always looking for ways to create more sustainable revenue streams, and there is no better place to start than a rapidly growing complementary market,” said Andrew Pitsicalis, CEO of Purple Haze Properties and Brand & Marketing Consultant for GRCU. “We have already built a strong network, and could leverage that network to quickly research and develop new product opportunities,” he concluded.
Management has concluded that the company will implement a ‘“state-by-state” medical patient and dispensary sales model. CBD was made a Schedule 1 Drug, Jan 13th of this year, making it federally illegal. By producing medical products rather than recreational ones, the company can use genetics high in CBD, but also with the full spectrum of cannabinoids that help battle many conditions that patients turn to cannabis for help.
For this reason, the company held production on its celebrity lines of National CBD-infused beverages. With the changes in CBD legislature this year, GRCU has chosen not to put the company or investors stock at risk, given the attitudes in the current political climate.
The company started sales and has been participating in cannabis industry events and conventions in California this year, and have had a great response to the initial products. California will be going to “adult use,” and is estimated to bring in over $5 billion in revenue in 2018. GRCU wants to start making its mark in the largest cannabis state in the country, and will have new products out in California this holiday season. In the coming weeks, the company will make key decisions on its future direction in the CBD market, and will consistently update shareholders as developments occur.
While the company has been able to start generating cash flows with its existing hemp-infused product deals, the allure of an industry that saw sales growth of over 1,700% (according to the Hemp Business Journal), is strong. With just over half of the states in the U.S. having legalized marijuana to some degree, there is still a lot of room for growth in this young market.
About Green Cures & Botanical Distribution, Inc. (OTC PINK: GRCU)
Green Cures & Botanical Distribution Inc., is revenue-generating company that wholesales and retails hemp-infused nutritional, botanical, sports, and body care products. The company is currently Web-based and focuses on online retailing. Green Cures & Botanical Distribution Inc., operates a diverse portfolio of products and services within the botanical and cannabis industry, as permitted by law. From concept to production and distribution, Green Cures & Botanical Distribution Inc., is continuously creating and introducing products that promote a healthy life style. For more information visit: http://www.grcustock.com/.
About Purple Haze Properties, LLC
Purple Haze Properties, LLC was founded through a partnership between Andrew Pitsicalis and Leon Hendrix, blood brother to the legendary guitar icon. Purple Haze Properties, LLC is the premiere source" for Jimi Hendrix Cannabis related products. Purple Haze Properties is a premiere celebrity licensing company for the Cannabis Industry. We represent, Cannabis Licensing for many celebrities including, Jimi Hendrix, Motorhead, Digital Underground, Peter Tosh, Anthrax, Charlo Greene, The Emperor of Hemp, Jack Herer, Baby Bash and others. Purple Haze Properties participates in all aspects of the cannabis industry including Licensing, Social, Medical, Music and Entertainment areas. Check us out at www.purplehazeproperties.com or www.facebook.com/purplehazeproperties. E-Mail email@example.com