PALM BEACH, Florida, October 11, 2018 /PRNewswire/ --
Financialnewsmedia.com News Commentary
The global Cannabis market continues to receive favorable growth forecasts from experts as its multi-billion dollar projected revenues climb higher than most were thinking just a few short years ago. Prominent factors influencing the success of the market include the current wave of legalization in countries across the world, the overwhelming demand for CBD products and industry leaders reinvesting profits into the expansion of operations. Data from BDS Analytics projects the powerhouse market to have a $40 billion impact by 2021, creating thousands of jobs and generating billions in taxes in the process. Active Companies from around the market with current developments this week include: Marijuana Company of America, Inc. (OTC:MCOA), Puration Inc. (OTC:PURA), Cannabis Strategic Ventures (OTC:NUGS), PotNetwork Holdings Inc. (OTC:POTN), CannTrust Holdings Inc. (TSX:TRST.TO) (OTC:CNTTF).
Marijuana Company of America, Inc. (OTCPK:MCOA) BREAKING NEWS: Marijuana Company of America, an innovative hemp and cannabis corporation, is pleased to announce that the Company filed an application with the OTC Markets on October 3, 2018, to uplist from the OTC Pink to the OTCQB listing tier on the OTC Markets.
Additionally, the Company is in the process of finalizing a registration statement on Form S-1 that the Company intends to file with the Securities and Exchange Commission (SEC), in conjunction with an anticipated equity line of financing that will allow the Company, once the S-1 is effective, to raise up to $10 million. The Company's application to uplist to the OTCQB tier is a condition for both the equity line of financing and for the Form S-1 registration statement.
Donald Steinberg, MCOA President and CEO commented, "Our goal is to obtain the necessary capital through our S1 to capitalize on the host of opportunities available in the cannabis and hemp industry right now. Also, moving to a higher OTC Markets reporting tier will help to provide better access to institutional investors, broaden our shareholder base, and provide greater credibility with the Company's partners, clients, stakeholders, and customers, as well as with the wider investment community."
The OTCQB tier increases transparency, reporting standards, management certification and compliance requirements. Further, the majority of broker dealers trade stocks on the OTCQB and historically this has resulted in greater liquidity and awareness for companies that reach the OTCQB tier.
On August 31, 2018, the Company engaged Mr. Jesus Quintero as its new Chief Financial Officer, and on September 19, 2018, appointed Robert Coale as an independent director. Mr. Quintero has served as a financial consultant to several multi-million dollar businesses in South Florida. He has extensive experience in public company reporting and SEC/SOX compliance, and held senior finance positions with Avnet, Inc. (NYSE: AVT), Latin Node, Inc., Globetel Communications Corp. (AMEX: GTE) and Telefonica of Spain. His prior experience also includes tenure with Price Waterhouse and Deloitte & Touche. Mr. Quintero earned a B.S. in Accounting from St. John's University and is a certified public accountant. 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:
Puration Inc. (OTCPK:PURA) came to a close up 51.05% on Wednesday with more than 45.2 million shares traded by the market close. Last week, the company announced a letter of intent to acquire a new cannabis beverage company. The Company has recently launched a strategy to concentrate all its efforts on expanding its existing cannabis infused beverage business. Puration introduced its first cannabis infused beverage, EVERx CBD Sports Water, last year and has since reported 600% revenue growth. The company has also announced a THC infused beverage, THCSavor, currently in development for launch select markets. PURA also recently announced it is spinning off its cannabis cultivation business. The spinoff is part of the overall strategy for Puration to concentrate ongoing business development efforts on the company's flourishing cannabis infused beverage business. The spinoff announced yesterday has been effected through the execution of a securities exchange agreement with Nouveau Life Pharmaceuticals, Inc., (NOUV) ("NOUV"). PURA has sold its cannabis cultivation business in exchange for a convertible purchase note issued by NOUV. R
Cannabis Strategic Ventures (OTCPK:NUGS) closed Wednesday up 16.88% at $3.60 by the market close. NUGS and True Promise Beauty recently announced the development of LYXR, a new line of cannabidiol (CBD)-based luxury skin, hair and body products. LYXR products are developed from a line of hemp-derived phytocannabinoids and other natural ingredients that provide high-performing skin, hair and body topical solutions. For LYXR's inaugural product, Cannabis Strategic Ventures and True Promise Beauty have developed a facemask, which is made from a CBD isolate. CBD isolate is believed to have anti-inflammatory, analgesic, anti-oxidant properties that helps to regenerate cells, as well as prevent the formation of bad cells (anti-cell proliferation). Additional mask proprietary ingredients will provide hydrating and anti-aging/age prevention benefits. The LYXR product line will eventually include skin, hair and body products.
PotNetwork Holdings Inc. (OTCPK:POTN) recently announced its wholly owned subsidiary, Diamond CBD, Inc., drew a substantial crowd September 14-16, 2018 at the 100+ thousand square foot convention halls of Mana Wynwood in Miami, Florida. This year's World Vapor Expo Industry Showcase featured hundreds of companies, retailers, distributors, wholesalers, consumers and proprietors from around the globe. Watch Diamond CBD at the World Vapor Expo on Vimeo: https://vimeo.com/289974770. Part of Diamond CBD's key marketing strategy is to create a dominant presence at industry trade shows. Diamond CBD has a highly successful history of sales from these key trade shows. At this show the Company featured numerous products, drawing attention directly from prospective vendors from the U.S. and other countries. Featured at the show were Diamond CBD's Vape Additives, Liquid Gold Vape Juice, Chill CBD Gummies, Diamond CBD Tinctures and Biotech Creams, the Company's most successful products.
CannTrust Holdings Inc. (TSX:TRST.TO) (OTC:CNTTF) recently announced a fourth recreational brand - Peak Leaf - that will be exclusively available in British Columbia. Come October 17 th, BC consumers of legal age will be able to experience a collection of cannabis products inspired by nature. This curated set of strains are rooted in the sights, smells, and sensations of the outdoors. Rich, leafy greens, earthy aromas, and fruity flavours offer a balanced approach to cannabis. "We are very excited to add Peak Leaf to our lineup of recreational brands set to hit the cannabis market this October. We saw a gap in the BC market for a brand that celebrated our innate connection to nature and think that Peak Leaf will fill this void," said Brad Rogers , President, CannTrust. "Our focus is on providing a variety of cannabis options, specially curated to meet the needs of all age-legal Canadians. This is another example of how we are living that focused approach and really putting our consumers at the center of everything we do."
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