CannabisNewsWire
Editorial Coverage: Years of steady growth in the cannabis
industry are expected to continue.
- Cannabis industry forecasts anticipate revenues of $146 billion
by 2025.
- Individual U.S. states are already seeing cannabis sales exceed
$1 billion in a year.
- The departure of Jeff Sessions and expected passage of the Farm
Bill will bolster these profits.
- E-commerce is helping cannabidiol (CBD) products reach a
growing market.
SinglePoint, Inc. (OTCQB: SING) (SING
Profile) is showing how much technology can boost the
industry, with support software and an online store. Terra
Tech Corp. (OTCQX: TRTC) is also profiting from supporting
producers, through the sale of hydroponic equipment.
American Premium Water Corp. (OTC: HIPH)
(HIPH
Profile) is providing innovative
cannabis-based products in the form of its CBD-infused water.
The Alkaline Water Company Inc. (TSX.V: WTER) (OTCQB:
WTER) has announced the formation of a beverage division
that will offer a hemp-derived, CBD-infused product, while
Level Brands, Inc. (NYSE American: LEVB) is
partnering with a pharmaceutical and wellness company to provide
CBD cream, spray, and edible products.
To view an infographic of this editorial, click here.
Keeping Up the Cannabis Momentum
Turbulent times in the United States are creating uncertainty
for a number of industries. But for the cannabis industry, the past
few years have been ones of constant growth. The spread of
recreational and medical marijuana legalization across the United
States and Canada has given the industry a huge boost, both
financially and in its public profile, as has the increasing
popularity of CBD products.
That growth is expected to continue, in large part thanks to the
momentum from political change. The departure of U.S. Attorney
General Jeff Sessions offers the possibility that the White House
may finally commit to President Donald Trump’s electoral promise of
cannabis policy reform at the federal level. Meanwhile, the
Democratic majority in the House, together with the hemp clauses in
this year’s Farm Bill renewal, set the stage to make life easier
for those looking to support the American hemp industry.
The Growth of Cannabis
The past few years have been good for cannabis and technology
holding company SinglePoint,
Inc. (OTCQB: SING). Like so many other companies
working with cannabis, SinglePoint has benefited from a huge growth
in business as a once-obscure sector of the economy turns into a
growing powerhouse and major employer.
There’s an irony to the fact that, for most of the companies
working in the cannabis space, being based in North America is what
makes their business possible. Thirty years ago, this was the
headquarters of the war on drugs — the U.S. government’s attempt to
wipe out the cannabis industry alongside those producing and
distributing other drugs. Now the United States and Canada are the
world’s biggest markets for legal cannabis as reformers work to
take pot profits away from criminal gangs and to bolster public
health through a legal, well-regulated industry.
As of this year, cannabis is legal for medical consumption in
two-thirds of U.S. states and for recreational use in a fifth of
them. Recreational use became legal in Canada a month ago — the
first G8 country to make such a move. This step forward has created
a huge market for companies such as SinglePoint to tap into, with
Colorado alone expecting to see a billion dollars
of cannabis sales by the end of 2018.
This growth isn’t limited to cultivators and retailers, the
obvious face of the cannabis industry. Those businesses need
support services and infrastructure to do their work. SinglePoint
provides a wide range of tech solutions tailored to the sector,
including software to measure cultivation, track deliveries and
make payments. Other businesses provide nutrients, hydroponic
equipment and advisory services to the burgeoning cannabis
sector.
This also means a growing number of
jobs. These are diverse opportunities as well, with many of
them involving specialist skills and training from bud tending to
compliance, not to mention the coders crafting SinglePoint’s
software. During a reporting period between January 2017 and July
2018, the number of job listings in the industry rose by a
staggering 690 percent. And the global market is expected to
exceed $146 billion in revenues by the end of
2025, driven in large part by events in North America.
Maintaining Marijuana’s Momentum
One of the most significant events of the past few weeks for the
cannabis industry’s prospects has been the resignation of U.S.
Attorney General Jeff Sessions.
An outspoken opponent of cannabis reform, Sessions tried to roll
back the President Barack Obama-era policy in which the federal
government, though still treating cannabis as illegal, accepted the
decisions of individual states to legalize it. The federal-level
illegality of cannabis is an ongoing problem for the industry for
several reasons, including that it makes banks and payment
providers wary of providing services to cannabis businesses.
Companies such as SinglePoint offer alternative payment solutions,
but federal laws still limit the options. Sessions’ departure may
create a real potential for change.
“This could present a major opportunity for SinglePoint to offer
services we have been able to provide to other businesses for
years,” said SinglePoint
president Wil Ralston. “The biggest winner here could be the
ancillary service provides and the potential access to
banking.”
During his election campaign, President Trump promised reform on
cannabis. But after two years of a Trump White House, there’s been
nothing more substantial than vague rumors. With Sessions gone, now
may be the time to act as more states move to legalize cannabis.
And even without federal reform, changes on the state level are
still positive for the industry. As SinglePoint CEO Greg Lambrecht
said in an interview with
MoneyTV, “as more states come on, it’s just better for us.”
CBD: A Cannabis Surprise Hit
The other big political reform about to hit the industry is the
2018 Farm Bill. Delayed by political conflict over food stamps and
immigration, the bill’s passage is now expected to speed up as
Republicans push through a version they can live with before losing
control of the House. This bill is set to legalize the hemp industry in the United States,
allowing the cultivation of a nonpsychoactive form of cannabis.
Hemp promises to be a big cash crop. CBD oil extracted from hemp
is used in a wide range of health and wellness products, such as
the CBD water and tinctures recently released
through SinglePoint’s SingleSeed site. The CBD side of the
industry reaches markets that raw cannabis can’t and, as a result,
has seen huge growth, spreading into health stores and
international markets.
But it’s through e-commerce that CBD has really taken off. More
than $4 million of CBD
products were sold through Amazon just in July this year. For
companies, such as SinglePoint, that are using their own e-commerce
stores, there’s even greater potential for profit than through
Amazon. By providing both the product and the marketplace, they
create a complete funnel to customers, benefitting from all the
profits and building a loyal client base.
Beyond Weed
As SinglePoint’s software and the growth of the CBD market show,
the cannabis industry is about far more than just selling weed.
For Terra Tech Corp. (OTCQX: TRTC), the focus
is on supplying equipment. A producer of cultivation equipment such
as hydroponics and moving tables, Terra Tech provides cannabis
growers with the tools they need to grow rich, profitable crops.
The growth of the industry has increased sales for hydroponics
companies, a trend that’s expected to continue. Terra Tech is investing heavily in a hydroponics
provider to reduce its costs and improve its ability to ensure
supplies to growers.
The growing popularity of CBD has drawn in companies from
outside the cannabis industry as well. American Premium
Water Corp. (OTC: HIPH) is a diversified luxury consumer
product company that uses biotech as the basis for health and
beauty merchandise. It has produced a CBD-infused drink — Lalpina CBD water — that makes it one of the first to
turn CBD into a widely available edible product.
Alkaline Water Company, Inc. (OTCQB: WTER) (TSX.V:
WTER) announced the formation of its A88 Infused Beverage
Division, Inc. The company currently offers products trademarked
Alkaline88 that are available in more than 40,000 retail locations
across the United States, including 39 of the top 50 grocers in the
country. The new division — A88 — will focus on brand extension and
product innovations in the healthful water category, with plans to
offer a hemp-derived,
CBD-infused Alkaline88 water product.
Level Brands, Inc. (NYSE American: LEVB) has
launched a new line of CBD
products developed jointly with Isodiol International, Inc. The
products include CBD oral sprays marketed under kathy ireland®
Health & Wellness; CBD edibles marketed under Chef Andre
Carthen Edibles; and a CBD pain-relieving cream available under
Ireland Men One, a men’s lifestyle brand focused on
millennials.
The cannabis industry is already seeing huge growth, creating
jobs and wealth. With legal reform in the United States and the
momentum provided by e-commerce, this growth appears set to
continue for a long time to come.
For more information on SinglePoint, visit SinglePoint,
Inc. (OTCQB: SING)
About CannabisNewsWire
CannabisNewsWire (CNW) is an information service that provides
(1) access to our news aggregation and syndication servers, (2)
CannabisNewsBreaks that summarize
corporate news and information, (3) enhanced press release
services, (4) social media distribution and optimization services,
and (5) a full array of corporate communication solutions. As a
multifaceted financial news and content distribution company with
an extensive team of contributing journalists and writers, CNW is
uniquely positioned to best serve private and public companies that
desire to reach a wide audience of investors, consumers,
journalists and the general public. CNW has an ever-growing
distribution network of more than 5,000 key syndication outlets
across the country. By cutting through the overload of information
in today’s market, CNW brings its clients unparalleled visibility,
recognition and brand awareness. CNW is where news, content and
information converge.
Receive Text Alerts
from CannabisNewsWire: Text "Cannabis" to
21000
For more information please visit https://www.CannabisNewsWire.com and
or https://CannabisNewsWire.News
Please see full terms of use and disclaimers on the
CannabisNewsWire website applicable to all content provided by CNW,
wherever published or re-published: http://CNW.fm/Disclaimer
CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.net
DISCLAIMER: CannabisNewsWire (CNW) is the source of the Article
and content set forth above. References to any issuer other than
the profiled issuer are intended solely to identify industry
participants and do not constitute an endorsement of any issuer and
do not constitute a comparison to the profiled issuer. The
commentary, views and opinions expressed in this release by CNW are
solely those of CNW. Readers of this Article and content agree that
they cannot and will not seek to hold liable CNW for any investment
decisions by their readers or subscribers. CNW is a news
dissemination and financial marketing solutions provider and is NOT
registered broker-dealers/analysts/investment advisers, hold no
investment licenses and may NOT sell, offer to sell or offer to buy
any security.
The Article and content related to the profiled company
represent the personal and subjective views of the Author, and are
subject to change at any time without notice. The information
provided in the Article and the content has been obtained from
sources which the Author believes to be reliable. However, the
Author has not independently verified or otherwise investigated all
such information. None of the Author, CNW, or any of their
respective affiliates, guarantee the accuracy or completeness of
any such information. This Article and content are not, and should
not be regarded as investment advice or as a recommendation
regarding any particular security or course of action; readers are
strongly urged to speak with their own investment advisor and
review all of the profiled issuer’s filings made with the
Securities and Exchange Commission before making any investment
decisions and should understand the risks associated with an
investment in the profiled issuer’s securities, including, but not
limited to, the complete loss of your investment.
CNW HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains “forward-looking statements” within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E the Securities Exchange Act of 1934, as amended and
such forward-looking statements are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. “Forward-looking statements” describe future expectations,
plans, results, or strategies and are generally preceded by words
such as “may”, “future”, “plan” or “planned”, “will” or “should”,
“expected,” “anticipates”, “draft”, “eventually” or “projected”.
You are cautioned that such statements are subject to a multitude
of risks and uncertainties that could cause future circumstances,
events, or results to differ materially from those projected in the
forward-looking statements, including the risks that actual results
may differ materially from those projected in the forward-looking
statements as a result of various factors, and other risks
identified in a company’s annual report on Form 10-K or 10-KSB and
other filings made by such company with the Securities and Exchange
Commission. You should consider these factors in evaluating the
forward-looking statements included herein, and not place undue
reliance on such statements. The forward-looking statements in this
release are made as of the date hereof and CNW undertakes no
obligation to update such statements.
Source:
CannabisNewsWire
Contact:
CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.net
Alkaline Water (NASDAQ:WTER)
Historical Stock Chart
From Sep 2024 to Oct 2024
Alkaline Water (NASDAQ:WTER)
Historical Stock Chart
From Oct 2023 to Oct 2024