Morgantown, West Virginia, April 20, 2017 (InvestorsHub
NewsWire) -- Majestic Oil & Gas Inc.
(MJOG) (Majestic or the Company)
today announced that it is entering potential $50 Billion Legal
Cannabis sector.
MJOG is pleased to announce its entrance into the Marijuana
Industry. Recent votes in California and across the U.S.A. have
opened opportunities in the marijuana industry in several states.
MJOG is actively pursuing acquisitions, joint ventures, and/or
mergers in the growing Cannabis Industry. MJOG expects to operate
its marijuana businesses through corporate subsidiaries that are
State licensed and locally permitted.
According to a report published by ArcView Market Research the
United States cannabis market is expected to reach $22.6 billion in
2021 with a 27% compound growth during this forecast period.
Another recent report by Cowen and Company (COWN) states North American sales rose by 34% to $6.9
billion in 2016, and based on estimates U.S. legal sales could reach $50
billion by 2026.
The legal cannabis market is one of the fastest growing
industries in the United States and Canada and most of the world
despite mixed signals from our new federal government
administration. Growing acceptance of cannabis for either Medical
or Recreational use is the major factor that has led to a surge in
the U.S. market.
Medical cannabis is legal in more than half of the United States
and 8 states have legalized recreational cannabis.
Mr. Zeliadt president of Majestic stated Our plans are to change
its name to indicate its new focus and acquire licensed, legal
cannabis companies. We are evaluating numerous investment prospects
in the cannabis space now. Our primary focus is in medical cannabis
and businesses that do not touch the actual marijuana plant
itself.
We feel this strategy will help us hedge against changing
federal and state laws.
Majestic management has determined that changing our focus from
oil and gas in a down market to the legal cannabis sector is in the
best interest of our shareholders and future investors.Growing
acceptance of cannabis for either Medical or Recreational use is
the major factor that has led to a surge in the U.S. Market.
Medical cannabis is legal in more than half of the United States
and 8 states have legalized recreational cannabis.
Forward-Looking Statements
Except for historical information contained herein, the matters
set forth above may include forward-looking statements that involve
certain risks and uncertainties. Words such as "may", "could",
"anticipate", "believe", "estimate", "expect", "intend", "plan",
and similar expressions are used to identify forward-looking
statements. These forward-looking statements are based on the
current beliefs of management, as well as assumptions made by and
information currently available to management. Actual results
could differ materially from those contemplated by the
forward-looking statements. Majestic does not undertake any
obligation to update any forward-looking statements and cautions
investors to consider all other risks and uncertainties, including
those disclosed in Majestics filings with OTC Markets.
Lawrence S. Zeliadt
President-MJOG
850-855-9162