Israeli Innovation is at the Heart of a Growing Cannabis Ecosystem
February 08 2017 - 8:30AM
InvestorWire
New York, New York (NetworkNewsWire) – In a move that will
certainly have an effect on both domestic and foreign cannabis
companies such as Singlepoint Inc. (SING) (SING
Profile), Rocky Mountain High (RMHB),
mCig, Inc. (MCIG), General Cannabis Corp.
(CANN) and Cannabics Pharmaceuticals, Inc.
(CNBX), Israel is reportedly making strides toward
allowing the export of medical marijuana, according to
Reuters1.
The Israelis are widely regarded as leaders in medical marijuana
research. However, the local market is small, estimated at $20
million, tops. Nevertheless, the meager market size appears to
discourage neither innovation nor investment. As such, Israeli
companies are involved in the value chain at all stages, from
agriculture to consumer products. In Israel at least, the cannabis
ecosystem is alive and well.
As the cannabis industry continues to evolve on a global scale,
there is a noticeable increase in diversity, in terms of location
and operations, among leading players.
SinglePoint
may not be in Israel, but the company is certainly not out of the
loop when it comes to technological advancements of the marijuana
industry. The Arizona-based company recently announced the
elimination of its debt (http://nnw.fm/4ewGK), as well as its plans to uplist
to the OTCQB Venture Marketplace and pursue acquisitions in the
technology and cannabis industries.
Notably, the company already has its foot in the door. Through
its SingleSeed Payments subsidiary, SinglePoint is structured to
offer payment solutions to the cannabis industry, which is awaiting
federal measures that could allow much-needed banking options
(http://nnw.fm/yeuT9). SingleSeed’s mobile
marketing and payment solutions include cashless ATM, Pay-by-Text™
and text message marketing for dispensaries and other cannabis
businesses.
“Through SingleSeed, SinglePoint entered the cannabis industry
years ago; since then we have had a front-row view of the
incredible opportunities provided by widespread acceptance of
cannabis, and the subsequent push for legalization on a variety of
points. It’s interesting to see the movement cross international
borders to feed a global market,” says SinglePoint CEO Greg
Lambrecht.
Additionally, SinglePoint recently signed a LOI (Letter of
Intent) (http://nnw.fm/6YH6u) to acquire an interest in
Convectium, a profitable California-based provider of equipment,
branding and packaging solutions for the cannabis industry.
Convectium has developed ‘the world’s first’ oil-filling system
for cartridges and disposable vape pens for wholesale distribution
to dispensaries. Within 30 seconds, the company’s 710Shark and
710Seal system can fill and package 100+ cartridges or disposable
vape pens, making it the fastest filling and sealing system of its
kind. With a market that extends to over 52 countries, Convectium
expects 2017 revenues to be about $3.5 million. This would
represent an increase of 150% over 2016 revenues of $1.4
million.
In Dallas, Texas, Rocky Mountain High specializes in developing,
manufacturing, marketing and distributing high-quality, health
conscious, hemp- and CBD-infused food and beverage products. The
company recently announced that it will attend the three-day
Seattle CannaCon Convention, the world’s largest cannabis business
marketplace, taking place February 16-18.
Another U.S.-based cannabis enterprise is mCig, a diversified
company servicing the legal cannabis, hemp and cannabidiol (CBD)
markets. mCig has evolved from being a vaporizer manufacturer to
providing cannabis cultivation construction services with its
Scalable Solutions division. The company recently posted record
third-quarter net sales of $1.3 million, an increase of 546 percent
compared to the third quarter of 2015. Net income for the quarter
was $898,000 (with $118,000 adjusted net income), marking the
company’s highest single-quarter performance.
General Cannabis, located in Denver, Colorado, provides an
integrated platform of services to the cannabis industry. Its
subsidiaries include Iron Protection (security services), Next Big
Crop (grower support), Chiefton (design and branding), The
Greenhouse (GC capital) and General Cannabis Institute (investor
intelligence).
Back on Israeli soil, Cannabics Pharmaceuticals is developing
personalized anti-cancer treatments based on cannabinoids. The
company most recently said its Cannabics 5mg THC capsule is being
evaluated as a treatment for cachexia and anorexia, in a study
taking place in Israel that is fully registered with the U.S.
National Institutes of Health.
1 Reuters: http://nnw.fm/d7l3L
For more information on Singlepoint, Inc. (SING) please visit:
Singlepoint,
Inc. (SING)
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