Medical Cannabis Market is on the Rise

NEW YORK, September 6, 2017 /PRNewswire/ --

A market report by Ameri Research Inc. indicates that the global legal cannabis market was valued at $14.3 billion in 2016 and is projected to grow at a CAGR of 21.1% from 2017 to 2024. During the forecast period, the projected demand of cannabis will continue to rise for both recreational and medical use with estimated global sales value to reach $63.5 billion. The legal cannabis market is witnessing robust growth thanks to successful legalization and decriminalization campaigns across North America and Europe. Ameri Research also explained that due to the complex regulatory structure at the state level and federal level, the full potential of the market is not yet realized. SinglePoint, Inc. (OTC: SING), Hemp, Inc. (OTC: HEMP), OWC Pharmaceutical Research Corp. (OTC: OWCP), United Cannabis Corporation (OTC: CNAB), CV Sciences, Inc. (OTC: CVSI)

A research published by New Frontier Data shows how the pharmaceutical market will be influenced by medical cannabis. "The United States constitutes 35% of the global pharmaceutical market, the largest market in the world, and a major driver of the U.S. economy. It is one of many industries that will be impacted by the growth of the legal cannabis market and we are already starting to see that trend in legal medical states where use of key prescription drugs is down by 11%. If cannabis were to be adopted nationally, we would begin to see a trend of patients turning to medical cannabis as a substitute or complement to pharmaceuticals," said Giadha Aguirre De Carcer, CEO & Founder, New Frontier Data.

SinglePoint, Inc. (OTC: SING) announced earlier today that the acquisition of Dr. FeelGood, a profitable cannabis distribution company. Dr. FeelGood is a leading distribution company headquartered in Phoenix, Arizona with expansion plans to add proprietary delivery and ordering technology application. Per the agreement terms, SinglePoint will acquire fifty-one percent (51%) of the company in a combination of cash and stock, which will allow SinglePoint to recognize all revenue. The acquisition will add an additional revenue stream to SinglePoint, solidifying the company's revenue by acquisition strategy.

Dr. FeelGood represents the third acquisition of the year for SinglePoint. This move provides SinglePoint with additional revenue as well as team members that have been actively working in the cannabis industry for many years. The founders of Dr. FeelGood have already laid out a plan to develop a proprietary mobile application that will enhance the user experience and streamline the company's operations. The companies look to release this app in the next 90 days, once completed they will be able to license this technology to other distribution companies all over the United States.

SinglePoint CEO Greg Lambrecht states, "We are very excited for the success of this acquisition. The acquisition of Dr. FeelGood is the third acquisition of the year. SinglePoints revenue has dramatically increased, which through the acquisition of DIGS Hydro and Convectium has increased 378x compared to the 1st quarter of 2017. SinglePoint is in a better position than it has ever been before. We are well capitalized to continue acquisitions and we are optimistic to complete additional acquisitions and very optimistic to significantly increase the company revenue."

Dr. FeelGood has a wide variety of products that are distributed both B2B and B2C. Owners Scott Riley and Jeff Clevenger have over 30 year's experience in building and scaling businesses including the last six years running a cannabis distribution business. The two will continue to run day-to-day operations of Dr. FeelGood with plans to expand the business and license the brand in additional states. The acquisition offer comes at a time when the industry is rapidly expanding. In fact, reports suggest that the marijuana market in the United States is growing faster than the smartphone and the tablet industry (PR News, 2017). As the market continues to expand weekly, Dr. FeelGood has a positive looking future. According to Forbes (2016), polls show that more Americans are in support for the legalizing of marijuana as it becomes continually popular for both recreation and medical reasons.

"This is a big moment for Dr. FeelGood. We know we can grow this business and with the capital and support of SinglePoint this growth will happen quicker. The introductions they have put together already are immensely positive for us and once solidified will exponentially increase our footprint in the market", states Scott Riley of Dr. FeeGood.

Simultaneously, SinglePoint and Dr. FeelGood are collaborating on a delivery platform. SinglePoint will utilize its location based delivery application and add additional features such as a directory and ordering system to directly compete with Leafly and WeedMaps. Dr. FeelGood already had plans to build the app and with SinglePoints head start the company will be able to utilize the app much sooner and supply to parties that have expressed interest already."

Hemp, Inc. (OTC: HEMP) is a pioneer in the industrial hemp industry. On January 10, 2017, the company announced that its wholly owned subsidiary, Industrial Hemp Manufacturing, LLC, in Spring Hope, NC, has signed a Letter of Intent with Mullen View Farms and one with John Finch Farms in North Carolina. According to the signed LOI with Mullen View Farms, IHM will purchase 1,000 acres of raw hemp that is to be harvested at various locations throughout eastern North Carolina, this year. The signed LOI with John Finch Farms stipulates IHM shall purchase 500 acres of raw hemp stock from John Finch Farms. As with Mullen View Farms, the raw hemp is to be harvested at various locations throughout eastern North Carolina, this year.

OWC Pharmaceutical Research Corp. (OTCQB: OWCP), through its wholly-owned Israeli subsidiary, One World Cannabis Ltd., is conducting medical research and clinical trials to develop cannabis-based pharmaceuticals and treatments for conditions including multiple myeloma, psoriasis, fibromyalgia, PTSD, and migraines. On July 10, 2017, the company announced that its subsidiary, One World Cannabis Ltd., has filed a patent application with the European Union Patent and Trademark Office for its active cannabinoid-based psoriasis topical cream. OWC's strategy in seeking to fully protect its IP, including the filing of this European patent application will enable the Company to accelerate its ongoing discussions and negotiations regarding scientific, medical and commercial collaboration.

United Cannabis Corporation (OTCQB: CNAB) has long advocated the application of cannabinoids for medical applications and is building a platform for designing targeted therapies to increase the quality of life for patients around the world. The company announced that the United States Patent and Trademark Office has issued US Patent #9730911, granting exclusive rights to its proprietary formulations based on compounds extracted from cannabis plant materials; more specifically, the composition of matter pertaining to the use of phytocannabinoids, cannabinoids, and specific terpene profiles in liquid form. This composition of matter patent provides protection for United Cannabis' proprietary formulations.

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 sale of CBD, and the development, marketing and sale of end consumer products containing CBD, which is refined into its own PlusCBD Oil™ brand. The company recently announced that its industry dominating brand of finished products, PlusCBD Oil™ will be exhibiting at Natural Products Expo East on September 14-16, in Baltimore, Maryland. Produced by New Hope Network, Natural Products Expo East is the leading trade show in the natural, organic and healthy products industry held on the East Coast, attracting over 28,000 industry professionals and 1400 exhibits to the Baltimore Convention Center.

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