PALM BEACH, Florida, August 27, 2018 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
The shifting legal landscape in the legal cannabis market continues to provide incredible opportunities for a growing number public companies in the marijuana industry across North America. Anticipation and general overall excitement is definitely building around Canada's upcoming special day coming up in October for recreational marijuana to be completely legal. According to cannabis research firm ArcView, legal weed sales in North America catapulted higher by 33% in 2017, and they're on track to grow by an average of 28% per year through 2021, leading to nearly $25 billion in annual sales. Lately, cannabis stocks have been increasing at impressive rates since the maker of Corona beer boosted its investment in Canadian cannabis company Canopy Growth by $4 billion. The market has proven to be consistently successful over the past few months to years and as new legislation continues the public sentiment on cannabis is definitely changing to the positive, pointing to the idea the future of cannabis could be even more lucrative as more positive developments take place. Active cannabis companies in the markets this week include Player's Network, Inc. (OTC:PNTV), Medical Marijuana, Inc. (OTC:MJNA), Hemp, Inc. (OTC:HEMP), PotNetwork Holdings, Inc. (OTC:POTN), Sugarmade, Inc. (OTC:SGMD).
Player's Network, Inc. (OTCQB: PNTV) BREAKING NEWS: Player's Network, a rapidly growing company in the recreational and medical marijuana industry with licensed grow operations in 2 states, announced today they have achieved record sales of over $2.1 million since the recent acquisition of Green Leaf Farms Salinas Valley. They are hosting a live online webinar to discuss the Company's revenue and acquisition strategy at 4:20 p.m. PDT (7:20 P.M. Eastern) on Wednesday, August 29th, 2018. Online attendees are limited to the first 100 people who RSVP.
The purpose of this announcement is to provide an update to the Company's Shareholders and the investment community with regards to their recent and substantial increase in sales (unaudited). Additionally, the Company has filed an extension for their quarterly report while they implement the necessary compliance controls including but not limited to; books and records and standard operating procedures as they transition the acquisition from a private business to a wholly owned subsidiary of PNTV.
The Company has been in development stage until they recently completed an acquisition of a 56,000 sq ft existing grow operation in Salinas Valley that accounted for the majority of the revenue growth.
Online Webinar to Update Shareholders - The Company will hold a webinar to discuss the Green Leaf Farms Salinas Valley revenues and their growth by acquisition strategy at 4:20 P.M. Pacific (7:20 P.M. EDT) on Wednesday, August 29th, 2018. Mark Bradley, Chief Executive Officer and Brett H. Pojunis, Director, will provide an update to shareholders and perspective shareholders.
Shareholders, Analysts, and future investors are invited to participate in the webinar. The webinar will be open on a listen/view only basis to all interested parties. Questions may be submitted prior to the webinar on https://playersnetwork.com/questions . Read this and more news for PNTV at http://www.marketnewsupdates.com/news/pntv.html
Other recent developments in the legal marijuana industry include:
Medical Marijuana, Inc. (OTCPK:MJNA), the first publicly traded cannabis company in the United States, late last week announced that its subsidiary HempMeds® Brasil will host the Third Meeting of Former Residents of Neurology at John Paul II Children's Hospital in Belo Horizonte, Minas Gerais, Brazil on Aug. 25. "We are looking forward to having a discussion on the benefits of cannabis and expanded access to CBD in Brazil," said Medical Marijuana, Inc. CEO Dr. Stuart Titus. "We want to support CBD access around the world and further develop our ongoing relationship with Brazilian healthcare professionals."
Hemp, Inc. (OTCPK:HEMP), a global leader in the industrial hemp industry with the largest multipurpose industrial hemp processing facility in the western hemisphere, announced last Friday that the company was featured in an article by Colorado Springs Independent regarding Hemp, Inc.'s signing of an agreement with Alaska-based gas and oil drilling services company Quadco LLC to distribute DrillWall™, a loss circulation material (LCM). LCM is a term for substances added to drilling fluids when drilling fluids are being lost to the formations downhole. The Colorado Springs Independent serves the Pikes Peak region of Southern Colorado both in print and online, and its website reaches over 100,000 unique monthly visitors. Hemp, Inc.'s 85,000 square foot industrial hemp processing and manufacturing facility, on 59 acres, in Spring Hope, North Carolina has been operational since August 2017 and creates products for the gas and oil drilling industries, among others.
PotNetwork Holdings, Inc. (OTCPK:POTN) announced this month that the Company's six month operating results have been posted on OTCMarkets.com in the form of unaudited financial statement and a supplemental disclosure. With revenues of $12,044,028, the Company has demonstrated the result of its continuously strengthening momentum. The year-to-date results are more than twice its 6-month revenues in 2017 of $5,077,625, an increase of 137% year-over-year. These six-month results will be included in the forthcoming audit and certification of the Company's financial statements by the Company's new PCAOB-member audit firm, Manohar, Chowdhry & Associates, which audited financial statements will be included in the Company's refiling of its Form 10 Registration Statement with the Securities and Exchange Commission ("SEC"). Completion of the Company's newly updated audit and resubmission of its Form 10 is anticipated before the end of the August.
Sugarmade, Inc. (OTCPK:SGMD), one of the largest publicly traded hydroponics supply companies, recently announced its application for the OTCQB Venture Marketplace for the trading of Sugarmade common shares. The Company had previously announced, in error, its return to the OTCQB Venture Market. Management had thought the return to the OTCQB would be automatic once fully reporting status was restored, this assumption was incorrect and thus Sugarmade has reapplied. Mr. Jimmy Chan, CEO of Sugarmade commented, "The OTCQB enables Sugarmade to build our visibility and expand liquidity for our shareholders without the rigid procedures and requirements that go along with an exchange listing. For these reasons, we have applied to the OTCQB and our application is under review. We believe we meet all the requirements and that the trading venue is optimal for Sugarmade."
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