PALM BEACH, Florida, Feb. 6, 2019 /PRNewswire/ --
Yes indeed… cannabis sales are growing much like this proverbial plant itself! It grows in all climates and in almost any environment…producing green leaves everywhere, but it is also creating a lot of greenbacks around the world at an alarming rate! (Or – at the same time) Forbes has opined: "… over the next 10 years, the legal cannabis industry will see much progress around the globe. Spending on legal cannabis worldwide is expected to hit $57 billion by 2017. The adult-use (recreational) market will cover 67% of the spending; medical marijuana will take up the remaining 33%. The largest group of cannabis buyers will be in North America, going from $9.2 billion in 2017 to $47.3 billion a decade later. The largest growth spread, however, is predicted within the rest-of-world markets, from $52 million spent in 2017 to a projected $2.5 billion in 2027. Active Companies from around the market with current developments this week include: Sugarmade, Inc. (OTC:SGMD), Marijuana Company of America Inc. (OTC:MCOA), PotNetwork Holdings, Inc (OTCPK: POTN), The Supreme Cannabis Company, Inc. (OTCQX: SPRWF) (TSX:FIRE.TO), Aurora Cannabis Inc. (NYSE:ACB) (TSX:ACB).
Still, the main difference between the U.S. and European cannabis markets is that in the U.S., recreational use will dominate sales. With a budget of $1.3 trillion in health care spending, European government-subsidized health care systems will bring the medical cannabis market to dominate Europe and become the largest medical marijuana market in the world.
Sugarmade, Inc. (OTCQB:SGMD) BREAKING NEWS: Sugarmade a major supplier to the growing hydroponic cultivation sector, today announces its exercise of an option to acquire BZRTH, LLC. Under the terms of the exercise and upon closing, all BZRTH revenues will be reported through Sugarmade significantly further boosting Sugarmade's revenue base. The acquisition is expected to be highly accretive for common shareholders.
Mr. Jimmy Chan, CEO of Sugarmade commented, "BZRTH is a sister company of BizRight, LLC. During December of 2017, Sugarmade and BizRight signed a Master Marketing Agreement where BizRight's products would be sold by Sugarmade. We recently modified that agreement to include BZRTH. Our exercise of our option to fully acquire these businesses will allow us to now realize full revenue recognition, boosting our top line growth rate very significantly. We will retain the entire staff of employees, who we warmly welcome to the Sugarmade family."
This acquisition option exercise comes on the heels of recent announcements that Sugarmade would acquire Athena United, a specialist company providing hydroponic supplies to large commercial cultivators, and the announcement of its intention to acquire Washington state hydroponic supplier Hydro4Less. Athena United is expected to produce approximately $40 million in annual revenues and the single Hydro4Less for location approximately $5 million annually. In addition, relative the Hydro4Less acquisition, Sugarmade acquired an option to acquire two additional locations, which are expected to produce in excess of $20 million annually.
Mr. Chan commented further, "Sugarmade plans to integrate these businesses fully as soon as is possible, making us one of the larger suppliers to this growing marketplace. Additionally, we are in process of vetting other possible acquisitions to further enhanced of the portfolio of hydroponic and cultivation supply products. We are certainly excited about our prospects for the remaining part of this year and into next year." Read this and more news for Sugarmade at: https://www.financialnewsmedia.com/news-sgmd
In other industry developments and happenings in the market this week include:
Marijuana Company of America, Inc. (OTCQB: MCOA) yesterday the company announced that its wholly owned subsidiary hempSMART™ attended special promotional events for its CBD infused product line during Super Bowl LIII this past weekend. The events included Ray Lewis's "Ray of Hope" Foundation's Gold Jacket for a Purpose event, and a special presentation at the Ice Box Club in Atlanta.
A number of professional athletes, NFL coaches, actors, musicians and other persons of interest attended the events and were given samples of the Company's hempSMART branded products, including hempSMART™ Brain and hempSMART™ Pain Cream.
PotNetwork Holdings, Inc (OTCPK: POTN) closed up over 48.03% on Tuesday at $0.1695 trading over 29.5 million shares by the market close. Its average volume is slightly over 3.9 million shares. On February 4, 2019 Diamond CBD Inc., wholly owned subsidiary of the company, a leader in hemp-derived CBD products for the health and wellness market, has announced the arrival of their new Brain Chill Slushy Machines that will be available in stores located throughout South Florida. These slushy machines serve frozen slush drinks, available in Wild Cherry, Cola, Grape, Blue Raspberry, Lemonade And Iced Coffee flavors, infused with high-quality CBD extract. Each 12oz cup of the Brain Chill Slushy contains 100mg of full spectrum CBD.
These sleek slushy machines are constructed to create visual appeal, and display CBD in a refreshing and enticing way. The constant movement of the slushy in the clear bowls, combined with the LED lighting in the bowl lids, are sure to draw in customer attention and boost impulse sales of additional store products.
The Supreme Cannabis Company, Inc. (OTCQX: SPRWF) (TSX:FIRE.TO) is a Canadian publicly traded company committed to providing premium brands and products that proudly reflect its consumers, people and uniquely innovative culture. The Company's portfolio includes its wholly-owned subsidiary and multi-award-winning brand, 7ACRES.
7ACRES is a federally licensed producer of cannabis operating inside a 440,000-square-foot facility in Kincardine, Ontario . 7ACRES is dedicated to providing consumers with a premium-quality product that recognizes its customers are informed, discerning and value a brand and culture that aligns with their principles. 7ACRES brand success has been reflected in its "Brand of the Year" award at the 2018 Canadian Cannabis Awards, "Best Licensed Producer Branding" award at the 2018 AdCann Advertising Awards and in provincial supply agreements where 7ACRES' product is consistently listed in the highest brand category available to recreational consumers.
Yesterday the company announced that it will be providing its second quarter financial results for the three months ended December 31, 2018 before markets open on February 12, 2019 .
Aurora Cannabis Inc. (NYSE:ACB) (TSX:ACB) recently the company announced that its extraction technology partner, Radient Technologies ("Radient"), has received its Standard Processing License from Health Canada.
In 2016, Aurora identified Radient's proprietary extraction technology (MAP™) as potentially disruptive for the cannabis industry due to its ability to achieve much higher throughputs than is possible with existing benchmark technologies, as well as its efficiency and ability to preserve the full spectrum of cannabinoids and terpenes found in the source material. These aspects provide key competitive advantages in the development and large-scale production of high-quality derivative products.
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