Revenue Growth in the Legal Cannabis Market

FinancialBuzz.com News Commentary

News provided by

Apr 25, 2017, 09:00 ET

NEW YORK, April 25, 2017 /PRNewswire/ --

A research published by Arcview Market Research indicates that people in North America spent $53.3 billion on legal, medical, and illicit cannabis in 2016. The North American legal cannabis market posted $6.7 billion in revenue in 2016, or up 30% from the year before. The illicit market generated 87% of total pot sales, down from 90% in 2015. The data reveals that the illicit market is slowly losing steam as legalization campaigns continue to gain momentum across the country. The legal market is expected to widen its reach and the research forecasts that growth will accelerate in the beginning of 2018 as adult-use sales ramp up in Canada, California, and Massachusetts along with medical sales in Florida. The market is expected to grow at 27% CAGR to $22.6 billion in 2021. SinglePoint, Inc. (OTC: SING), OWC Pharmaceutical Research Corp. (OTC: OWCP), MCig Inc. (OTC: MCIG), CV Sciences, Inc. (OTC: CVSI), Lexaria Bioscience Corp. (OTC: LXRP)

Troy Dayton, CEO of Arcview Market Research said in a statement, "The enormous amount of existing, if illicit, consumer spending sets cannabis apart from most other major consumer-market investment opportunities throughout history, the cannabis industry doesn't need to create demand for a new product or innovation - it just needs to move demand for an already widely-popular product into legal channels."

SinglePoint, Inc. (OTC: SING) is a holding company specialized in the acquisition of small to mid-sized companies. Earlier in March the company announced that it has closed its first round of funding to acquire a portion of Jacksam Corp., dba Convectium, the developer of a unique oil filling system poised to revolutionize the cannabis market. Convectium projects full-year 2017 sales of $3.5 million, a triple-digit increase over the year prior. The acquisition represents the first of many strategic investments SinglePoint intends to make to diversify its revenue streams in the multi-billion dollar cannabis industry.

As previously announced, SinglePoint will invest a stock and cash consideration totaling $800,000 to help fund the growth of Convectium and the marketing of its revolutionary 710Shark and 710Seal system. Developed by Convectium, the system is capable of filling and packaging more than 100 cartridges or disposable vape pens in 30 seconds, making it the fastest and only filling and sealing system of its kind. Convectium also offers a line of B2C products, which SinglePoint will sell online through its SingleSeed.com subsidiary.

Driven by increasing product demand and brand visibility, Convectium projects full-year 2017 revenues of $3.5 million, an increase of 150% compared to revenue of $1.4 million for full-year 2016. The company is on track to achieve this goal, as sales for the first quarter of 2017 have already significantly surpassed first-quarter sales in 2016."

OWC Pharmaceutical Research Corp. (OTCQB: OWCP) through its wholly-owned Israeli subsidiary, One World Cannabis Ltd., conducts medical research and clinical trials to develop cannabis-based pharmaceuticals and treatments for conditions including multiple myeloma, psoriasis, fibromyalgia, PTSD, and migraines. OWC is also developing unique delivery systems for the effective delivery and dosage of medical cannabis. On April 17, 2017, the company announced that OWCP has been invited to present at the Monaco Growth Forums Spring, Edition, on April 25th - 26th at The Montepole Hotel in Monte Carlo, Monaco. During the event, management will introduce OWC Pharmaceutical's approach to the investment community in Monaco.

MCig Inc. (OTCQB: MCIG) is a diversified company servicing the legal cannabis, hemp and CBD markets via its lifestyle brands. Recently, the company announced the achievement of acquiring part of the former Megaupload development team. The team is led by Chief Technologist, Andrus Nomm, recognized as the senior operative and programming lead in the popular online file sharing, streaming and ad serving websites of MEGAupload, MEGAclick and MEGAvideo. The sites served approximately 50 million users per day over 6500+ servers, monetizing over a quarter billion USD in advertising and subscription revenue.

CV Sciences, Inc. (OTCQB: CVSI) focuses on drug development activities on products containing cannabidiol (CBD) as the active pharmaceutical ingredient, and also is engaged in the development, marketing and sale of end consumer products containing CBD, which is refined into its PlusCBD Oil™ brand. On March 13, 2017, the company announced the launch of the first online education platform designed to enhance its brand education and advocacy through Experticity. CV Sciences' education platform will cover a variety of topics pertaining to hemp, phytocannabinoids, and its industry-dominating consumer products brand, PlusCBD Oil™.

Lexaria Bioscience Corp. (OTCQB: LXRP) is a food biosciences company with a proprietary technology for improved delivery of bioactive compounds. The company's technology is patent-protected for cannabidiol (CBD) and all other non-psychoactive cannabinoids, and patent-pending for Tetrahydrocannabinol (THC), other psychoactive cannabinoids, non-steroidal anti-inflammatory drugs (NSAIDs), nicotine and other molecules. On March 22, 2017, the company announced the introduction of the TurboCBD™ brand of technologically enhanced, high absorption full spectrum hemp oil capsules. Lexaria's TurboCBD™ capsules are specially formulated with the finest American Ginseng and Ginkgo Biloba for support of enhanced focus and memory, and reduced stress and fatigue.

Please sign up now at http://www.FinancialBuzz.com to receive alerts on trending financial news from all these companies. 'The Latest Buzz in Financial News'

Subscribe now! Watch us report from NYSE https://www.youtube.com/FinancialBuzzMedia

Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz

Facebook Like us to receive live feeds: https://www.facebook.com/Financialbuzz/

About FinancialBuzz.com

FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the "Site") is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. Financialbuzz.com has not been compensated directly by any of the companies mentioned here in this editorial. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For this release, FinancialBuzz.com has been compensated four thousand two hundred dollars for financial news dissemination and PR services by a third party non affiliate for singlepoint, inc. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use. Please visit: http://www.financialbuzz.com

For further information:
[email protected]
+1-877-601-1879

Url: http://www.FinancialBuzz.com

SOURCE FinancialBuzz.com