PALM BEACH, Florida, March 22, 2017 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
As the number of uses and applications for cannabis CBD oil continues to rise in popularity with consumers, Cannabis Companies in the explosive CBD Oil extraction market are enhancing production through acquiring innovative assets and other plant equipment acquisitions. Cannabis companies thriving in the legal marijuana sector include: Future Farm Technologies Inc (OTC: FFRMF) (CSE: FFT.CN), mCig, Inc. (OTC: MCIG), Aphria Inc. (OTC: APHQF) (TSX-V: APH.V), OWC Pharmaceutical Research Corp. (OTC: OWCP), InMed Pharmaceuticals Inc. (OTC: IMLFF) (CSE: IN.CN).
Future Farm Technologies Inc (OTCQB: FFRMF) (CSE: FFT.CN) is pleased to announce that its majority owned subsidiary, FFM Consulting Services, LLC, has purchased a state-of-the-art extraction machine for the manufacture of concentrated cannabis oil and purified distillate. The equipment purchased is designed to rapidly manufacture premium cannabis oil to supply the growing demand for cannabis concentrates in the state of California. The equipment utilizes a closed-loop system to produce high quality oil in a high throughput system with minimal maintenance and labor. The equipment is estimated to be delivered, installed and in full production within the next 90 days. Read this and more news for Future Farm Technologies: http://marketnewsupdates.com/news/ffrmf.html
"We believe this alcohol extraction machine is the best extraction equipment on the market today, which allows us to be able to process large amounts of cannabis flower into highly pure concentrates from day one," says Bill Gildea, CEO of Future Farm. "This equipment will immediately allow for high-volume and highly pure extraction production. With this purchase, Future Farm is now formalizing the marketing plan to include its own brand, as well as offering contract manufacturer services for other brands and cultivators across the state of California."
Cannabis concentrates and edibles are the largest and fastest growing segments of the cannabis market, which many experts believe will overtake cannabis whole flower sales by 2020. The market for cannabis concentrates is booming because they are used to make edibles, topical ointments, capsules and other packaged products that require a more professional extraction. As the recreational industry gets underway in California, many in the concentrates niche believe it's going to continue to explode in popularity.
In other industry news and developments in the markets:
mCig, Inc. (OTCQB: MCIG) closed up over 16% on Tuesday at $0.2712 trading over 3 Million shares by the market close. mCig, a diversified company servicing the legal cannabis, hemp, and CBD markets, reported this month an increase in revenue of 446% to $1,362,689 for the most recent quarter compared to last year and Gross profit increased 239% to $288,230 compared to $85,076 compared to the three months ended January 31, 2016.
Aphria Inc. (OTCQB: APHQF) (TSX-V: APH.V) closed up on both the OTC markets and TSX Venture on Tuesday despite recent sector ambiguity. Aphria announced this month the ongoing commitment to providing pharmaceutical-grade cannabis that is free of chemical pesticides. Vic Neufeld, Chief Executive Officer of Aphria, said, "Aphria has always held itself to the highest standards when it comes to the cultivation and production of medical cannabis. As part of this, we made a strategic investment in a state-of-the-art greenhouse in Leamington, Ontario, which enables us to produce medical cannabis that meets our exacting standards of quality, consistency, and safety."
OWC Pharmaceutical Research Corp. (OTCQB: OWCP), an Israeli-based developer of cannabinoid-based therapies targeting a variety of medical conditions and disorders, on Tuesday announced the highly promising results of its topical cream efficacy tests following months of study and scientific analysis. In October 2016, OWC announced that it was in the final phase of pre-clinical efficacy testing for its topical psoriasis cream and also announced a parallel test to assess the efficacy of the formulation in treating psoriasis in human skin tissue. The recent results are highly promising, showing significant reduction of several inflammation markers specific to psoriasis.
InMed Pharmaceuticals Inc. (OTCQB: IMLFF) (CSE:IN.CN ) also closed up on both the OTC markets and CSE Canadian exchanges on Tuesday by the market close. InMed Pharmaceuticals is a Vancouver-based pre-clinical trial biotech company that has not only developed a proprietary cannabinoid manufacturing system but in the process created a highly sought after database. This database has mapped the different compounds of cannabinoids to the various diseases that it can address. Read the full article on Forbes.com at: http://bit.ly/2mquYph
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