PALM BEACH, Florida, June 15, 2017 /PRNewswire/ --
The cannabis sector continues to outperform other sectors as emerging companies are realizing a true robust growth potential while making waves in the industry through the introduction of the newest products and services, generating large distribution and operation agreements as well as advancing the development of unique intellectual property to enhance operations and revenue generating opportunities. Cannabis, Hemp and Legal Marijuana companies with developments or market activity of note this week include: Sugarmade, Inc. (OTC: SGMD), Cannabis Science Inc. (OTC: CBIS), American Cannabis Co. Inc. (OTC: AMMJ), GreenGro Technologies, Inc. (OTC: GRNH) and Terra Tech Corp. (OTC: TRTC).
Sugarmade, Inc. (OTCQB: SGMD), today announces the signing of an exclusive distribution agreement with privately held Plantation Corp. for its breakthrough preservation technology based on radical integration of specialized gases and natural agents that dramatically extends the useful life of medical marijuana up to six months by actively monitoring the internal containers environment and automatically adjusting its atmosphere as needed; all without the need for refrigeration. Read this and more news for SGMD at http://www.marketnewsupdates.com/news/sgmd.html.
Under the terms of the agreement, Sugarmade gains exclusive distribution to the largest U.S. markets, California, Oregon and Washington markets through 2018, including the very important hydroponic retail distribution network, with automatic renewals based on success milestones. Plantation and Sugarmade expect to begin distribution of the products later this year.
The storage containers will be protected via a strong patent portfolio, which protects the use of a modified atmosphere container for storing cannabis. As such the cannabis container system being developed will be unique and cannot be copied or replicated by a competitor. Jimmy Chan, CEO of Sugarmade, commented, "This is a critical capability in the case of cannabis, since unlike fruits and vegetables that thrive in chilly conditions, refrigeration degrades and undermines the efficacy of the plant medical benefits. Simply put, the technology's innovative features extend the life of medical marijuana, while protecting it from infestation, mold and pathogens to ensure product safety. This is a major event for our company."
Other Industry News and market activity of Note:
Cannabis Science Inc. (OTC: CBIS) closed up 3.96% on over 6.7 million shares traded on Wednesday. Cannabis Science, Inc. takes advantage of its unique understanding of metabolic processes to provide novel treatment approaches to a number of illnesses for which current treatments and understanding remain unsatisfactory. Cannabinoids have an extensive history dating back thousands of years and currently, there are a growing number of peer-reviewed scientific publications that document the underlying biochemical pathways that cannabinoids modulate.
American Cannabis Co. Inc. (OTCQB: AMMJ) closed up 11.65% on over 200,000 shares traded by the market close on Wednesday. The company recently announced it has secured its first client in the state of North Dakota. ACC will be working with this client to strategically plan business operations in effort to win a license to legally operate a vertically integrated cannabis business within the state.
GreenGro Technologies, Inc. (OTC: GRNH) finished Wednesday up 6.38% on over 700,000 shares traded by the market close. The company recently announced it has secured a $4 million funding commitment to build a second igot420 dispensary in Cathedral City, California. $2 million of that financing has already been received with the remaining $2 million to be drawn down pending advancement of the project's construction schedule.
Terra Tech Corp. (OTCQX: TRTC) closed up slightly on Wednesday on over 900,000 shares traded by the market close. The company recently announced its Chief Executive Officer, Mr. Derek Peterson has been chosen as a panelist at both the Cannabis World Congress & Business Expo and the 6th Annual Marcum Microcap Conference to be held on Thursday, June 15, 2017 in New York City.
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