Legal Cannabis Market is Rapidly Developing

NEW YORK, March 30, 2017 /PRNewswire/ --

Recent data regarding the legal cannabis market published by New Frontier Data shows that the legal cannabis market was worth an estimated $6.6 billion in 2016, and is projected to grow at a compound annual growth rate (CAGR) of 16%, or reaching more than $24 billion by 2025. The medical cannabis market is projected to grow at 12% CAGR through 2025, growing from $4.7 billion in 2016 to an estimated $13.3 billion in 2025. During the same period, adult use sales are projected to grow at a 21% CAGR, from $1.9 billion to $10.9 billion. All the projections are based on the assumption that no additional states will legalize cannabis throughout the forecasted period before 2025. Marijuana Company of America, Inc. (OTC: MCOA), Medical Marijuana Inc. (OTC: MJNA), AXIM® Biotechnologies Inc. (OTC: AXIM), Cannabis Science Inc. (OTC: CBIS), Growblox Sciences Inc. (OTC: GBLX)

As a result from the legal cannabis market growth in sales, there are also projections that calim the market is becoming a good source of new jobs. Giadha Aguirre De Carcer, Founder and CEO of New Frontier Data said, "while we see a potential drop in total number of U.S. jobs created in 2017, as reported by Kiplinger, as well as an overall expected drop in GDP growth, the cannabis industry continues to be a positive contributing factor to growth at a time of potential decline."

Marijuana Company of America, Inc. (OTC: MCOA) is a cannabis and hemp marketing and distribution company. Earlier today the company announced that, "it has finalized the joint venture agreement with Bougainville Ventures, Inc. in Washington State.

MCOA will begin investing up to $1 million in cash in a newly formed entity and receive a 49.5% equity ownership and 50% share in net profits produced by the joint venture. Bougainville Ventures, Inc. will contribute its expertise in establishing facilities related to the production, processing and management for tenant growers utilizing an I-502 Tier 3 license, with leased property, established partnerships, licensing agreements and marketing relationships.

Donald Steinberg, MCOA President and CEO said, "this new cultivation project will help to expand our operations and supply chain into Washington state. Achieving this milestone, as well as completing our PCAOB audit before the end of the first quarter is a positive sign that we are meeting our targets for this year. We are very optimistic about the outlook for the second quarter and the revenue that this new cultivation project should bring for the Company."

The execution of the agreement is the final step in formalizing the Letter of Intent that was publicly announced on February 15, 2017. This joint venture partnership was formed for the purpose of cultivation, processing and commercial availability of legal marijuana within the State of Washington only and not beyond its borders.

Medical Marijuana Inc. (OTC: MJNA), a cannabis company in the United States, announced that its investment company AXIM^® Biotechnologies Inc. (OTCQB: AXIM), has entered into a Term Sheet Agreement with a U.S.-based controlled-substances Active Pharmaceutical Ingredient production company to develop a dronabinol-based functional, controlled-release chewing gum product based on AXIM IP and technology. The new dronabinol chewing gum product will be bioequivalent to Marinol^®. "AXIM has once again expanded its clinical research program in an impressive and important way that will greatly benefit this population of patients," said Dr. Stuart Titus, PhD, CEO of Medical Marijuana, Inc. "With more than a third of patients discontinuing use of Marinol® as prescribed due to adverse side effects, it is encouraging that AXIM will research and attempt to bring to market an improved medication that may provide expanded therapeutics while allowing for a better quality of life for this patient population."

U.S. company that specializes in the development of cannabis-based medicines, Cannabis Science Inc. (OTC: CBIS) announced that it has substantially increased its production for its self-medicating patient product line distributed through cannabis dispensaries in California. CBIS moves to meet the outstanding influx of self-medicating patient requests as it highlights Moonlight Cannabis as its Newest Spotlight Dispensary for the Month of April 2017. "We are thrilled to be so close to reaching so many new patients with our products," said Director, President, CEO and Co-Founder, Raymond C. Dabney. "We are truly experiencing the significant size of the Los Angeles market, which is absolutely enormous for us, especially following the passing of Proposition 64 here in California. We're moving into some of the largest markets in California; it seems they're excited to purchase our product lines and that's a major tell, if you ask me, and the best part is the simple fact that we are just getting started," concludes Mr. Dabney.

Growblox Sciences Inc. (OTCQB: GBLX) is engaged in developing and utilizing technologies in plant biology, cultivation and extraction techniques combined with biotechnology, and plans to produce medical-grade cannabis, cannabis concentrates and cannabinoid therapies. The Company seeks to be a technology and solution company that converts the cannabis plant into medicines, therapies and treatments for a range of ailments. Growblox intends to conduct its business operations, through its subsidiaries, in approximately three operating units, which include Solutions, Sciences and Product divisions. The Solutions division involves the development and use of its suite of controlled-climate indoor agricultural technology growing and cultivation Suites, known as the GrowBLOX Suites. The Science division is engaged in preclinical testing of its biopharmaceutical cannabinoid product prototypes to begin future human clinical trials.

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 us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz

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 dollars for financial news dissemination and PR services by a third party non affiliate for marijuana company of america 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:

Media Contact: info@financialbuzz.com , +1-877-601-1879

SOURCE FinancialBuzz.com