PALM BEACH, Florida, October 2, 2018 /PRNewswire/ --
Financialnewsmedia.com News Commentary
Legalization of cannabis is emerging and rising trend, which is influencing many nations to decriminalize cannabis and legalize the use of marijuana for recreational and medicinal purposes. Once was a market filled with skepticism and doubt, the cannabis industry has emerged as a landscape full of opportunity and steadily rising revenues, increasing investors' attention in economies around the world. Already a billion dollar market, confidence has built the industry a solid foundation and allowed it to prosper and grow to new levels of prominence. Investment firm Cowen estimates the cannabis industry could generate $75 billion in revenue by 2030, illustrating eye-popping growth over the next decade. As more consumers opt for cannabis instead of alcohol in markets where it is legal, consumption rates and revenues continue to rise and with growing anticipation of relaxed CBD-hemp regulations, many now expect the CBD-Hemp market to explode and eventually outpace cannabis sales. Active Companies from around the market with current developments this week include: Marijuana Company of America, Inc. (OTC:MCOA), Earth Science Tech Inc. (OTC: ETST), Terra Tech Corp. (OTC:TRTC), Newstrike Brands Ltd. (TSX-V:HIP) (OTC:NWKRF), KushCo Holdings Inc. (OTC:KSHB).
Marijuana Company of America, Inc. (OTCPK: MCOA) BREAKING NEWS: Marijuana Company of America, an innovative hemp and cannabis corporation, and its joint venture partner Global Hemp Group Inc. (GHG/GBHPF) (the "Partners") are pleased to provide an update on their high yielding CBD hemp project in Scio, Oregon.
Harvest - Harvest has begun at the farm. Over the next 10 days the team in Scio will harvest this year's crop, which consists of approximately 36,000 high yielding CBD hemp plants that were grown in an orchard style cultivation on 33 acres. The team planted six different cultivars this year to determine which would be the optimal hemp variety to grow in the coming year. The team continues to evaluate hemp cultivars that will provide higher CBD yields and a reduced flowering period, which will allow the team to complete the harvest earlier in the year prior to the fall rains.
Preparation for Extraction - Once the hemp is harvested, it will be dried in preparation for storage prior to processing. Drying this season will take place in the project's four recently completed greenhouses on the farm and will utilize a traditional hanging method, as well as testing an innovative rack drying system. Prior to next season's harvest, the Partners will construct a permanent drying facility on site. Once the hemp is dried to a 10-12% moisture content, it can be stored with little or no cannabinoid/plant matter degradation, prior to extraction.
Greenhouses - The team has now completed the setup of the first four of five greenhouses, giving the project 15,000+ sq. ft. of active greenhouse space for its drying and cloning operations. A fifth greenhouse (already purchased) will be installed after the drying of this year's crop is complete. This will increase the active greenhouse space at the project to over 19,000 sq. ft. An additional 20,000 sq. ft. of greenhouse space will be purchased in October as part of further project expansion, with the vision of implementing a year round perpetual harvest model to enhance revenue generation and cash flow, and increasing the size of the cloning operation to be able to supply clones to the local farming community.
The team has now started its cloning operations for the winter crop, which will utilize the current and future greenhouses. Management is exploring opportunities to maximize production by developing beneficial relationships that will help optimize the Project's profit potential through R&D, data collection and analysis.Read this and more news for MCOA at: http://www.financialnewsmedia.com/news-mcoa/
In the industry developments and happenings in the market this week include:
Earth Science Tech Inc. (OTCQB: ETST) came to a close up 23.26% on Monday at $1.55. The company recently announced the commencement of a direct response television (DRTV) media campaign with mega-entrepreneur Kevin Harrington's award-winning As Seen On TV production company. Considered one of the most successful entrepreneurs in history, Harrington is the renowned inventor of the infomercial and an original "Shark Tank" shark. As part of the agreement with ETST, Harrington will personally appear in an ETST commercial spot to deliver a customized product introduction for the Company."Kevin Harrington has launched more than 500 products, amassing $5 billion dollars in global sales. A strategic alliance with him and his production outlet positions any company for success," said ETST President, Director and Chairman Nickolas S. Tabraue. "We are very excited to announce that his analyst team has selected Earth Science Tech, Inc. to collaboratively develop its own As Seen On TV DRTV media campaign." Earth Science Tech offers the highest purity and quality high-grade full spectrum cannabinoid oil on the market. There are positive results in studies on breast cancer and immune cells through the University of Central Oklahoma, in addition to studies through DV Biologics that prove the Company's CBD oil formulation lowers cortisol and functions as a neuro-protectant, with positive result case studies through key health organizations. ETST formulates, markets and distributes the CBD oil used for its studies to the public, offering the most effective quality of CBD on the market.
Terra Tech Corp. (OTCQX: TRTC) recently announced that the City of Santa Ana has granted its East Dyer Road, East Carnegie Avenue and South Tech Center Drive locations vertically-integrated Phase I permits. These permits allow the Company to commence development of cultivation, manufacturing and distribution capabilities at these locations. Moreover, upon completion of the build-out of each location's facilities, they also confer upon the Company the right to apply for Phase II permits which are needed to commence commercial activities.The Company is expanding its presence in Southern California as the state's cannabis market continues its transformation from a black market economy into a multibillion-dollar, regulated market. By opening several locations across Santa Ana, each of which will benefit from vertical integration and will house the Company's recognizable 'Blüm' dispensary brand, the Company is positioning itself as a major supplier of medical and adult-use cannabis to all the surrounding cities, such as Irvine, Laguna Beach and Newport Beach, all of which currently suffer from a scarcity of existing cannabis dispensaries. When completed, the Company's expanded cultivation and extraction capabilities will allow it to ramp production of its proprietary IVXX™ cannabis products, which are grown and harvested under the safest and most beneficial conditions. All IVXX products are thoughtfully produced, rigorously tested and certified to the highest standards of potency and purity for sale at the Company's proprietary Blüm dispensaries as well as at third party dispensaries.
Newstrike Brands Ltd.'s (TSX-V:HIP.V) (OTCPK:NWKRF) wholly owned subsidiary, Up Cannabis Inc., has partnered with Green Tank Technologies as a supplier for vaporization hardware and technology. The partnership teams Up Cannabis with an innovative and cutting-edge vaporization hardware provider, paving the way for Up Cannabis's private label vape pen consumer offerings upon their expected legalization in 2019. "We believe in the synergy that will be created by pairing the strength of the Up Cannabis brand with Green Tank as a proven hardware and technology partner," said Jay Wilgar, chief executive officer of both Newstrike and Up Cannabis. "Our cannabis oils coupled with their innovative hardware will mean the best of both worlds for adult-use consumers upon the legalization of vaporizers. We're excited at the possibilities and are focused on developing a consumer product offering that will lead the segment, furthering our strategic plan to create a premier adult-use cannabis brand." Up Cannabis and Green Tank will also look to begin collaboration on the research and development of innovative new vaporization products. According to BDS Analytics, in recently legalized adult-use markets like California, vapes accounted for approximately 25 per cent of cannabis product sales for the first six months of 2018.
KushCo Holdings Inc. (OTCQB:KSHB) recently announced that it has entered into a strategic transaction with Smoke Cartel (SMKC) to sell Roll-uh-Bowl, an online distribution platform for retail sales of collapsible and unbreakable medical-grade silicone water pipes. As stipulated in the agreement, KushCo will transfer ownership of all Roll-uh-Bowl assets, including inventory, branding materials, the website and social media, in exchange for shares of Smoke Cartel valued at $1,500,000 plus the value of inventory. KushCo will also build a referral landing page into the Kush Bottles website to direct customers to Smoke Cartel when searching for wholesale glass & smoking accessories. "This transaction exemplifies our dedication to continuing the development of our core competencies, ensuring focus is maintained on providing leading packaging, supplies, wholesale vaporizer hardware, gas and solvents for the medical and adult-use cannabis industry," said CEO Nick Kovacevich.
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