Marijuana Stocks Boosting Operations & Expansions on
Heels of U.S. Elections
Coral Springs, FL (November 9, 2016-- InvestorsHub Newswire --)
-- The legal marijuana sector remains hot while continuing to ride
the wave of this week's election results, and companies continue
leveraging the current climate to expand operations as well as
create new and innovative products such as various forms of
extraction and more. Marijuana/Cannabis Companies with
current developments in the market of note included: Agritek
Holdings, Inc. (OTC:
AGTK), Puration, Inc. (OTC:
PURA), Arcturus Growthstar Technologies Inc. (OTC:
AGSTF) (CSE: AGS.CN),
Cannabis Science, Inc. (OTC:
CBIS) and SinglePoint, Inc. (OTC:
SING).
Puration, Inc. (OTC:
PURA) and North American Cannabis Holdings, Inc. (USMJ)
announced a new office today opened in California near Los
Angeles. The announcement comes in conjunction with
California passing Proposition 64 and legalizing recreational
marijuana. USMJ and PURA have announced restaurant and edible
contracts in Colorado where recreational marijuana is already
legal. The two Companies work closely together and have been
working specifically of late to open a joint business development
office in California in anticipation of Proposition 64
passing. California Legal Marijuana Market Projected To Grow
From $2 Billion To $8 Billion.
Read the full Puration (PURA)
Press Release at: http://financialnewsmedia.com/profiles/pura.html
A recent Forbes feature includes an estimate that the California
marijuana market may grow to over $8 billion from its current $2
billion with the legalization of recreational marijuana. A
New York Times article includes an estimate that the overall legal
marijuana market in North America may grow from the $7 billion it
is today to $22 billion in the next four years as a result of
yesterdays legalization votes. USMJ Revenue Growth and PURA
New Contracts - USMJ has carved out a base annual revenue of $500k
since entering the cannabis sector in 2013. USMJ also
developed and spun off the cannabis extraction business that is now
the primary operation of Puration (PURA). PURA
has recently announced its first two contracts and indicated a
third is pending.
In other sector related developments and news in the markets
this week:
Agritek Holdings, Inc. (OTC Pink:
AGTK), a leader in compassionate care technology and
agricultural solutions for the recreational cannabis industry, this
week announced that the Company has executed a Letter of Intent and
Agreement for the acquisition of one hundred per cent (100%) of the
stock and ownership of "Sterling Classic Compassion," a two (2)
year old tax reporting non-profit qualifying for the sale of
medical marijuana within the state of California. The Company
believes that Sterling can qualify for a recreational license
within the state of California if Prop 64 were to pass in the
general election Tuesday November 8th. Agritek Holdings based on
state guidelines to be determined, could participate in the
ownership and sale of wellness products within the state similar to
rules set up and approved for public companies in Washington State,
Nevada and Oregon.
Arcturus Growthstar Technologies Inc. (OTCQB:
AGSTF) (AGS.CN)
announced this week that it has signed a Letter of Intent ("LOI")
to acquire a 10-acre operating greenhouse in Florida, which is in a
designated zone to legally cultivate, process and dispense
cannabis. The Greenhouse fits Florida's stringent criteria for
agricultural farmers looking to manufacture Cannabis which, under
the current law, applicants had to have been in business in Florida
for at least 30 years and grow a minimum of 400,000 plants at the
time they applied. "This is a major milestone for Arcturus
and positions us for tremendous growth for years to come," says Mr.
William Gildea, Arcturus Growthstar Technologies, Inc.'s CEO and
Chairman.
Cannabis Science, Inc. (OTC Pink:
CBIS), a U.S. company specializing in the development of
cannabis-based medicines, announces that its President, Chief
Executive Officer, and Co-Founder, Mr. Raymond C. Dabney, is
preparing Company presentation briefing materials, drug development
initiatives and accomplishments for corporate initiatives briefing
exclusively for Harvard Medical School researchers later this
Month. Mr. Dabney will speak at the Dana Farber/Harvard
Cancer Center (DF/HCC), one of the largest cancer research centers
in the world with more than 1,100 cancer researchers and over $600
million in cancer research funding.
SinglePoint, Inc. (OTC Pink:
SING) this week provides additional insight into the intention
of its SingleSeed subsidiary to provide credit card processing
solutions for the cannabis industry. As five new states prepare to
vote on ballot initiatives to legalize cannabis for recreational
and/or medicinal purposes, SingleSeed is already positioned to
become one of the industry's first merchant processors. The
market for both medical and recreational marijuana is projected to
grow from $7 billion this year to roughly $22 billion by 2020,
according to Arcview Research; analysts from financial services
firm Cowen and Co. project a $50 billion legal cannabis market in
the United States by 2026, with such progression based on federal
legislation.
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