PALM BEACH, Florida, May 2, 2017 /PRNewswire/ --
Now that recreational marijuana has been legalized in more and more U.S. states, the amount of Americans living in a state where recreational marijuana use is legal has increased statistically from 5 to 20 percent. The newly-legalized states already see some of the highest tourism numbers in the country as well as a rising number of grow operations in 29 states. Legal Marijuana/Cannabis operators and innovators in the markets this week with recent developments and performances include: Grow Condos, Inc. (OTC: GRWC), United Cannabis Corp. (OTC: CNAB), Solis Tek Inc. (OTC: SLTK), American Cannabis Company, Inc. (OTC: AMMJ), Zoned Properties, Inc. (OTC: ZDPY).
Grow Condos, Inc. (OTCQB: GRWC), a fully reporting, publicly traded company specialized in cannabis industry-related 'Condo' style real estate and turn-key grow facilities, today seeks to update investors on the recent acquisition closing of Lake Selmac Resort and RV Park, and the development of its evolving strategy in Lake Selma Oregon.
After completing the acquisition, the company believes that the Smoke on the Water business presents a unique separate business model and being entirely ripe for a 'roll-up' acquisition play within the RV and Campground industry. Currently, the industry is entirely dominated by a 'Mom and Pop' type business with no tangible exit strategy. The company feels that these establishments can be purchased for 4 to 7 times EBITA, and then converted into culturally themed Cannabis Friendly destinations, creating a greater industry presence with a growing multiple of franchise themed locations. To Read this and more news for Grow Condos, please go to: http://marketnewsupdates.com/news/grwc.html
Plans currently underway at the Lake Selma Resort include the development of a territorial conversion to the Native American theme, enhanced with TeePee style accommodations, Yoga and other spiritually enhancing activities throughout the day, and astrology and celestial centered nightly events. Other exclusive features include 'Theater Night on the Water', an event by which visitors will be able to experience movie viewing on a floating screen while enjoying a peaceful night on the lake.
Created to capitalize on the country's continually growing level of recreational marijuana acceptance, 'Smoke on the Water' has launched its own roll-up development strategy, and started on a trajectory to duplicate its success. Chief Executive Officer, Wayne Zallen stated: "We believe that we have reached a pinnacle, since the acquisition of Southern Oregon's Lake Selmac Resort and RV Park, where this sector has established sufficient momentum to yield considerable value on its own."
Management has concluded that this strategy will support the targeted growth of this division, advancing each sector with a singular focus on the development of a strong foothold in each niche market. Smoke on the Water is now relatively established, and prepared to capitalize on the fragmented RV industry in marijuana friendly territories."
According to popular consensus, it has been revealed that relaxed marijuana laws are a powerful motivator for tourists, since technically it's not yet permissible to recreationally smoke in National and State Parks. This has opened a very lucrative niche opportunity for smaller, privately-owned properties that can offer the freedom of experiencing Oregon's strikingly beautiful landscape, while also enabling its visitors to enjoy Oregon's 420 Friendly privileges.
Grow Condos, Inc. recently announced the successful acquisition of one of the territory's privately-owned nature rich vacation spots, Lake Selmac Resort and RV Park, situated in the picturesque heart of Southern Oregon. Located just 20 miles south of Grants Pass, Oregon and 2.5 miles east of the Redwood Highway (Hwy. 199) in Selma, Oregon, Lake Selmac Resort. The peaceful exclusive property currently facilitates fishing, swimming, boating, and in addition to RV parking, has tent camping and cabin locations established for accommodation.
To view more regarding the property, visit: http://www.lakeselmac.com Shareholders will be kept updated as events
In other Industry news and developments:
United Cannabis Corp. (OTCQB: CNAB) closed up over 16% on Monday at $1.24 by the market close. United Cannabis Corporation, the creator of Prana Bio Nutrient Medicinals, on 4/20 announced that it is expanding protection of its intellectual properties, and National Stage applications based upon PCT/US2015/056635, and pursuant to the Patent Cooperation Treaty (PCT), for 'Cannabis Extracts and Methods of Preparing and Using Same' are currently in the process of being filed in Australia, Brazil, Canada, China, Colombia, Europe, Eurasia, India, Israel, Japan, Mexico, New Zealand, the Philippines, South Africa and South Korea.
Solis Tek Inc. (OTCQB: SLTK) closed up over 11% on Monday at $1.91 by the market close. Solis Tek is a vertically integrated technology innovator, developer, manufacturer and distributor, focused on bringing products and solutions to commercial cannabis growers, in both the medical and adult use space in legal markets across the U.S. For nearly a decade, growers have used Solis Tek's digital lighting solutions to increase yield and lower costs and grow better. The Company's customers include retail stores, distributors and commercial growers in the United States and abroad.
American Cannabis Company, Inc. (OTCQB: AMMJ) closed up over 6% on Monday, at $0.59554 by the market close. American Cannabis Company, a business-to-business consulting firm and distributor of ancillary products and services to the cannabis industry, in April announced it has secured its first retainer client (the "Client"), in the state of Louisiana. The Client, CB Medical, LLC ("CB Medical"), is a newly formed entity that is one of the applicants for the LSU-sponsored medical marijuana program. LSU has indicated that it will select finalists for live presentations next month, and then it will determine a winner in June 2017.
Zoned Properties, Inc. (OTCQX: ZDPY), a strategic real estate development firm, whose primary mission is to identify, develop, and lease sophisticated, safe, and sustainable properties in emerging industries, including the licensed medical marijuana industry, in late March announced one of its subsidiaries, Chino Valley Properties, LLC, has signed an amendment to an existing commercial lease agreement with one of its tenants, in order to expand the leased space at the Chino Valley Cultivation Facility, located in Chino Valley, Ariz., from approximately 25,000 square feet to 35,000 square feet of leased space.
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