PALM BEACH, Florida, September 20, 2017 /PRNewswire/ --
Industry professionals are reporting that sales growth estimates for the legal marijuana, hemp and cannabis industry are reaching new highs every day. The Marijuana Business Daily's newest report, "Marijuana Business Factbook 2017," is forecasting that legal U.S. cannabis sales could soar by approximately 300% to around $17 billion annually by 2021. A compound annual growth rate in the mid-20% range moving forward is simply something that industry experts and leading companies are taking very seriously. Active companies in industry this week include: SugarMade Inc. (OTC: SGMD), India Globalization Capital Inc. (NYSE: IGC), CV Sciences Inc. (OTC: CVSI), Terra Tech Corp: (OTC: TRTC), Hemp Inc. (OTC: HEMP).
Sugarmade, Inc. (OTCQB: SGMD) and Plantation Corp., today announce important breakthroughs in long-term cannabis storage. Laboratory research has produced an optimum proprietary packaging atmosphere that will allow long-term storage of cannabis in the new BudLife containers. The management teams of both companies consider this research breakthrough to be highly significant to the emerging cannabis industry.
After many iterations and modifications to the patented technologies, Plantation has come up with what it believes is the optimum storage atmosphere for cannabis flowers.BudLife products will preserve the important properties of cannabis - THC levels, terpene quality, and tricome structure, along with aroma and feel. Sugarmade and Plantation are now turning development efforts toward finalizing the packing design, a process that is well underway. Based on these breakthroughs the companies expect to begin taking orders for BudLife in the 4th quarter of this year. Read this and more news for SGMD at: http://www.marketnewsupdates.com/news/sgmd.html
"We are super excited to be the exclusive distributor for BudLife products for the single largest cannabis market in the world, the U.S. states of California, Oregon and Washington," commented Jimmy Chan CEO of Sugarmade. We believe this breakthrough is really important. With the growing glut of cannabis flowers in the marketplace, storage will be more critical than ever. As the California market opens up, we expect to see even more cannabis hit the market. We plan to help the cannabis industry deal with this supply issue via high quality preservation and storage products. We look forward to releasing pricing and prototypes, and to begin to take pre-orders for these patented and trade secret protected products. We urge all of our investors to visit http://www.budlife.net to review this groundbreaking cannabis storage technology."
The quality of cannabis has risen dramatically over the past few years and it's clear that premium product keeps consumers happy and allows growers and distributors to command premium prices. But, the quality of cannabis degrades quickly, which places the significant investments made in high quality product production at risk. BudLife products are design to significantly reduce this risk and to allow growers and distributors to store and control the release of their higher quality products at optimal times in order to maximize profits, thus helping users of BudLife to shape the cannabis supply and demand curve.
In other industry news and developments:
India Globalization Capital Inc. (NYSE: IGC) closed up over 15% on Tuesday at $0.39 with over 840,000 shares traded by the market close and was also up slightly in afterhours trading. The company this week announced an update on compelling in vitro data compiled from genetically engineered cell lines within an Alzheimer's disease model, showing that at varying concentrations of THC, the aggregation of Aβ protein decreases by as much as 40%. "As Alzheimer's progresses, synaptic dysfunction and the death of neurons lead to memory loss. These study results, when combined with the earlier reported data that shows IGC-AD1 reduces Aβ40 and Aβ42 production by as much as 50%, and 40%, without any toxicity, represent a highly significant novel breakthrough that could potentially bring much needed relief from this devastating disease," states IGC's CEO Ram Mukunda.
CV Sciences Inc. (OTCQB: CVSI) closed up over 28% on Tuesday with over 2.1 million shares traded by the market close. CV Sciences, Inc. (CVSI) operates two distinct business segments: a drug development division focused on developing and commercializing novel therapeutics utilizing synthetic CBD; and a consumer product division in manufacturing, marketing and selling plant-based CBD products to a range of market sectors. CV Sciences, Inc. has primary offices and facilities in San Diego, California and Las Vegas, Nevada.
Terra Tech Corp: (OTCQX: TRTC) closed down slightly on Tuesday at $0.219 trading over 6 Million shares by the market close. TRTC yesterday announced it has signed its second Craft Cultivator to grow the Company's proprietary high grade "IVXX" cannabis flowers and oils. The farm, Cultivar Inc., is located in Salinas, California and is approved for up to six acres (approximately 244,000 square feet) of cannabis cultivation, to be grown in high tech, climate-controlled greenhouses. This new partnership follows the launch of Terra Tech's "Craft Cultivation" model in May 2017, when the Company signed its first Craft Cultivator, an experienced cannabis cultivator in Honeydew, California. By partnering closely with these carefully selected teams of experienced and trusted cultivators, Terra Tech can ensure its IVXX cannabis is grown and harvested under the safest and most beneficial conditions, while effectively managing costs.
Hemp Inc. (OTC: HEMP) closed down slightly on Tuesday trading over 22.8 Million shares by the market close. The Company recently announced that Dr. Robert Ian Bruck (double Ph.D.), Director and Founder of North Carolina State University Environmental Technology Program (B.S.), has been appointed Dean of Hemp, Inc.'s Hemp University and is scheduled to speak at the upcoming Hemp University educational symposium on September 30, 2017. In his role as Dean, Dr. Bruck will be responsible for the management and development of the education curriculum at The Hemp University. Dr. Bruck holds a B.A. in Biology from The State University of New York, Buffalo State, a Ph.D. in Forest Pathology, Phytopathology from The State University of New York, College of Environmental Science and Forestry; a Ph.D. in Forestry from Syracuse University and a Post-Doctoral Fellow from Cornell University, and years of experience in the fields of plant pathology and ecology. Among his many accolades, Dr. Bruck has received over twenty academic awards including the University Distinguished Lecturer Award and the University Distinguished Adviser Award, both from North Carolina State University and has graced the Who's Who in America list multiple years.
DISCLAIMER: MarketNewsUpdates.com (MNU) is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. MNU is NOT affiliated in any manner with any company mentioned herein. MNU and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. MNU's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. MNU is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed MNU has been compensated forty-four hundred dollars for news coverage of the current press release issued by SugarMade Inc by a non-affiliated third party. MNU HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and MNU undertakes no obligation to update such statements.