Increasing use of Cannabis for Pain Treatment is set to Grow the U.S. Medical Cannabis Market

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Sep 07, 2018, 09:00 ET

NEW YORK, September 7, 2018 /PRNewswire/ --

According to a report published by Global Market Insights, the U.S medical cannabis market size was valued at over USD 3.5 Billion in 2017 and is expected to exceed USD 8.0 Billion by 2024 while growing at a compound annual growth rate (CAGR) of 13%. The increasing use of cannabis as a treatment for a range of chronic pain will boost the market growth. Currently, 31 U.S. states have legalized cannabis for medical use. According to data from the National Health Interview Survey, about 25 Million people suffer from pain every day in the U.S. The medical cannabis pain management market in the country was valued at USD 2,691.9 Million in 2017, accounting for 75% of the market shares. Crop Infrastructure Corp. (OTC: CRXPF), MPX Bioceutical Corp. (OTC: MPXEF), MassRoots, Inc. (OTC: MSRT), Sugarmade, Inc. (OTC: SGMD), New Age Farm Inc. (OTC: NWGFF)

Based on the distribution channel, the U.S. medical cannabis market can be divided into the dispensaries market segment and the online segment. The U.S. medical cannabis dispensaries segment generated revenue of USD 2,144.3 Million in 2017, while online medical cannabis market is expected to grow at a rate of 13.9% during the forecast years due to its convenience and easy-to-use features. California is one of the biggest states for medical cannabis since 1996 and has more than 261 dispensaries.

Crop Infrastructure Corp. (OTC: CRXPF) is also listed on the Canadian Securities Exchange under the ticker (CSE: CROP). Yesterday, the Company announced breaking news that it, "has received confirmation that its San Bernardino dispensary application has advanced to stage three of four of the application review process.

Furthermore, the Company is pleased to announce its 49% "Emerald Triangle" cannabis production facility tenanted by "Hempire" in Humboldt California continues harvest with an additional 2 greenhouses now drying and awaiting test results to begin selling. This 30,000 square foot production facility sits on approximately 8.46 acres and consists of a 10,000 square foot medicinal cannabis greenhouse facility and an additional 20,000 square feet of recreational licensed canopy.

Hempire has also advised they have secured 800 additional ready-to-flower plants for a late season harvest with a unique genetic currently in high demand.

CROP Infrastructure Director & CEO Michael Yorke states: 'Crop's tenant, Hempire's harvest looks phenomenal and we look forward to receiving the first brand licencing and lease payments from Hempire in September. The Emerald Heights dispensary application is exciting as vertically integrating tenants will provide for the largest returns both from a brand licencing perspective and return on investment from CROP's real estate portfolio.'

About Humboldt Holdings LLC: Located in Humboldt County, California the property is 8.46 acres and currently houses a 10,000 square foot greenhouse as well as a barn, garage and residence. On site are five 5,000-gallon water tanks, a well and pump house and a 30 x 60 ft. drying shed. The property is zoned for a 10,000 square foot medical and a 20,000 square foot recreational cannabis license."

MPX Bioceutical Corp. (OTCQB: MPXEF), through its wholly-owned subsidiaries in the U.S., provides substantial management, staffing, procurement, advisory, financial, real estate rental, logistics and administrative services to three medicinal cannabis enterprises in Arizona operating under the Health for Life and the award-winning Melting Point Extracts brands. MPX Bioceutical Corporation recently announced the opening of its first Health for Life dispensary in Maryland, located in downtown Bethesda. Residents of Bethesda and the surrounding areas will now have access to legal medical cannabis for the first time. Maryland patients with a medical cannabis commission ID card, and strong interest in health and wellness, will now be able to obtain the medicine they need to live healthy and productive lives. "The people who live and work in and around downtown Bethesda are some of the most educated in the U.S. They have been treated by world-class doctors at some of the nation's best medical facilities including Walter Reed National Military Medical Center and NIH Clinical Center. Now they will have access to Maryland's best medical cannabis dispensary from a product and experience perspective," said Julie Winter Senior Vice President of East Coast Operations, MPX.

MassRoots, Inc. (OTCQB: MSRT) is one of the leading technology platforms for the regulated cannabis industry. MassRoots, Inc. recently announced that it has launched its revamped dispensary portal, MassRoots for Business, accessible at business.massroots.com. Through this business portal, dispensaries are able to list locations on MassRoots' dispensary finder, update key information in real-time, and view insightful analytics on their local cannabis market. Subscriptions to MassRoots' business portal start at USD 420 per month, per dispensary location with a twelve-month minimum contract. According to New Frontier Data, there are currently 2,488 licensed dispensary locations in the United States. The Company believes that if MassRoots is able to engage several hundred in listing contracts, it could be a significant source of revenue and growth for the Company. "We expect that subscriptions to MassRoots for Business will be our primary source of revenue this year," stated MassRoots' Chief Executive Officer Isaac Dietrich. "We believe our dispensary portal has the ability to drive a new source of traffic to our dispensary clients and empower them with insightful analytics to better run their business."

Sugarmade, Inc. (OTC: SGMD) is a product and brand marketing company investing in products and brands with disruptive potential. Sugarmade, Inc. recently announced a new corporate initiative in the booming hemp market. Sugarmade is committing up to USD 1,0000,000 in capital over the next twelve months to invest in Hempistry, Inc. a privately held Nevada corporation, which has begun planting an ultra-high cannabidiol (CBD) industrial hemp strain in the U.S. State of Kentucky. Additionally, Sugarmade expects to sign an agreement with Hempistry for hemp cultivation supplies. Hempistry has already begun planting and has signed an agreement reserving up to 23,000 acres of prime Kentucky farmland for its exclusive use for hemp cultivation. Additionally, Sugarmade's Chief Executive Officer, Jimmy Chan, announced that he has become an advisor to and a shareholder in Hempistry, Inc. Jimmy Chan, Chief Executive Officer of Sugarmade commented, "Demand for industrial hemp and products derived from hemp is soaring with no let up in sight. We expect our direct investment into Hempistry to be accretive to common shareholders and our supply agreement to be lucrative. All of us at Sugarmade see a tremendous opportunity to become a supplier to this fast-growing sector, thus we are today launching our first in a series of activities within the hemp markets. We plan to provide additional details relative to these hemp initiatives over the coming weeks."

New Age Farm Inc. (OTC: NWGFF) is an agricultural services company offering unique turnkey growing infrastructure and services for licensed growers and processors of luxury marijuana crops at its agri-campuses in Washington State. New Age Farm Inc. recently announced that the Company has acquired two cash flowing marijuana properties in the state of Oregon. The Cave Junction property consists of 11 acres divided into two separate legal lots. Cave Junction, Oregon is historically known as one of the best microclimates in the world for successful outdoor cultivation of cannabis. The property, which was previously the Althouse Nursery, was converted into a state of the art outdoor and greenhouse cannabis cultivation facility in 2015. Since then, the property has been operated by Trellis Farms, an experienced and successful cannabis cultivation company. Currently, Trellis is operating on one of the legal plots and holds a OLCC license for the cultivation of 40,000 sq. ft. of recreational cannabis. Trellis has plans to expand the cultivation to inhabit the second legal plot and add an additional 40,000 sq. ft. of canopy. Joshua Bartch, Chief Executive Officer of the Company, stated: "We are extremely pleased to be announcing today's property acquisition. Not only does this acquisition add USD 3,000,000 USD in hard, appreciating assets on the Company's balance sheet, but it also gives the Company a strong monthly cash flow. I believe that this is just the first of many land and property acquisitions that the Company holds in its future."

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