PALM BEACH, Florida, October 10, 2017 /PRNewswire/ --
Many firmly believe the notion that cannabis and legal marijuana is quickly becoming one of the market's fastest-growing industries. According to the latest report from Marijuana Business Daily entitled "Marijuana Business Factbook 2017," U.S. legal weed sales are expected to grow by approximately 30% in 2017, 45% the following year, and explode higher by roughly 300% between 2016 and 2021. This would push the U.S. legal cannabis market to around $17 billion by 2021. Indications point to that type of expansion and growth is attracting more and more investors to marijuana stocks, which is fueling new business and revenue opportunities for companies such as: SugarMade Inc. (OTC: SGMD), GB Sciences Inc. (OTC: GBLX), Terra Tech Corp: (OTC: TRTC), PotNetwork Holding Inc. (OTC: POTN), Marijuana Company of America Inc. (OTC: MCOA).
Sugarmade, Inc. (OTCQB: SGMD) and Plantation Corp., today unveil the prototype design for BudLife, a unique patent protected device for the long-term storage of cannabis. The companies expect to begin taking orders for BudLife during the fourth quarter in order to prepare for the opening of the California recreational cannabis market on January 1, 2018. Sugarmade has produced a new video demonstrating BudLife, which can be viewed at http://www.sugarmade.com .
"We think BudLife is a game changer for the cannabis industry. The industry has been lacking an effective storage device that will preserve THC levels, prohibit terpene degradation and safeguard the other important properties of cannabis. As the exclusive distributor for BudLife for the single largest cannabis market in the world - California, Oregon, and Washington - we are particularly proud of this product and look forward to helping the industry preserve its flowers during 2018 and beyond," commented Jimmy Chan, CEO of Sugarmade. Read this and more news for SGMD at: http://www.marketnewsupdates.com/news/sgmd.html
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 and distribution 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. It's also perfect for the end consumer who just wants to preserve cannabis flowers for later consumption. Mr. Chan continued, "The addition to the patented BudLife product line in time for the start of recreational cannabis sales in California will be a welcome addition to our growing product portfolio."
In other industry news and developments:
GB Sciences Inc. (OTCQB: GBLX) closed down slightly on Monday at $0.25 by the market close. The LSU AgCenter announced back in late September that it finalized its agreement with GB Sciences Louisiana LLC, a wholly owned subsidiary of GB Sciences, Inc., to produce medical cannabis products for qualifying patients in Louisiana. GB Sciences, a cannabis company focused on biopharmaceutical development, has filed patent applications for using cannabis for chronic pain and heart therapies as well as chronic arthritis, Crohn's disease, inflammatory bowel disease and asthma.
Terra Tech Corp. (OTCQX: TRTC) recently announced its Chief Executive Officer, Derek Peterson, will participate on an industry panel and host a presentation about Terra Tech Corp. at the New West Summit, in Oakland, California, on Saturday, October 14, 2017. The panel will be on the subject of "Weed Wellness And Sustainability - Decide What You Put Inside You And Know The Root Of It" and will take place at 3:30pm PT in OCC 208 (Level 2). Panelists will discuss the next generation of cannabis technology, and the role that organic and environmentally sustainable practices will play in the evolution of the legal cannabis industry. The Company presentation will be held at 1:00pm PT on the same day, Saturday, October 14, 2017, where Mr. Peterson will provide an overview of Terra Tech Corp.'s business model and growth expectations.
PotNetwork Holding Inc. (OTC: POTN) closed up slightly on Monday trading over 1.8 Million shares by the market close. The company recently announced that as part of its strategy to formulate, produce and market a spectrum of exclusive and diversely targeted cannabidiol blends, the Company has appointed a new Chief Executive Officer, Richard Goulding, MD. In the Company's effort to fortify its presence in the industry with a specialized focus, Dr. Goulding is expected to be instrumental in directing the Company's endeavors to develop targeted formulas designed to deliver results for a diverse spectrum of challenges that studies reveal CBD can help. Dr. Goulding brings to the Company knowledge of the medical benefits of CBD from a physician's standpoint.
Marijuana Company of America Inc. (OTC: MCOA) closed up slightly on Monday with over 5 million shares traded by the market close. The company recently announced that Space Cowboys, Inc. ("SC") of Loveland, Colorado, has been retained to provide consulting services for its New Brunswick hemp project. Space Cowboys has extensive expertise in growing high cannabinoid (CBD & CBG) hemp for extraction and will assist GHG and MCOA to maximize cannabinoid production as the group ramps up cultivation operations in New Brunswick in the coming years. SC currently has ongoing hemp cultivation and extraction operations within the Colorado cities of Loveland and Longmont; meticulously developed over the last four years.
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