CannabisNewsWire
Editorial Coverage: Legal marijuana sales in North
America hit $6.7 billion in 2016 – a 34 percent jump from the
previous year, making it the fastest-growing industry on the
planet, according to Arcview Market Research’s 2017 report on the
marijuana market. The research firm expects those figures to soar
to nearly $23 billion by 2021. Companies that provide products and
services related to the broader cannabis economy enjoy huge growth
potential as the industry continues its inevitable march toward
full legalization, and few of them require touching a single leaf
of the highly regulated plant. Companies such as
SinglePoint, Inc. (SING) (SING
Profile), United Cannabis Corp. (CNAB), Sugarmade, Inc.
(SGMD), GreenGro Technologies, Inc. (GRNH) and
Kush Bottles, Inc. (KSHB) are banking on pursuing
those ancillary revenue streams as they look to the future.
Predictably, the cannabis market is scaling up at profound rates
as changing public perceptions and shifts in attitudes toward the
use of medical and recreational marijuana begin to shape
legislative policies. The Canadian government, which announced the
full legalization of recreational marijuana by July 2018, is poised
to consider amending the law by including edibles and other
consumables. While marijuana is still illegal on the federal level
in the United States, 29 states and the District of Columbia have
legalized using marijuana in some form (http://cnw.fm/612wM) with each individual state
passing its own, distinct set of regulations.
For companies offering secondary services to the cannabis
industry – and this list includes nearly any service a successful
business requires such as packaging, security, testing,
distribution, software, marketing, insurance, and so on – the
future looks bright indeed. Interestingly, as the legal
recreational marijuana market ramps up, one of the more surprising
upticks in this emerging industry involves scores of new government
jobs coming on line in various state agencies. From running
background checks on storefront sellers seeking government licenses
to testing the environmental impacts, there are plenty of jobs to
be had (http://cnw.fm/mTG5b).
As the cannabis industry evolves, opportunities to provide the
necessary ancillary services are expanding, too. Cannabis
cultivators are seeking new ways to increase production and lower
costs. Indeed, one of the more critical needs facing the cannabis
industry is finding a way to move past its current ‘cash-only’
status to develop safer, more secure and reliable payment option.
Most banking institutions operate in multiple states and are
subject to strict federal regulations, which means the majority
have steered clear of getting involved in businesses that touch the
marijuana plant. While that attitude is changing somewhat, the
cannabis industry continues to need a way to transact daily
business in a rapidly growing market.
SinglePoint
(SING), which has
evolved from a full-service provider of mobile technology to a
publicly traded holding company, is now focused on diversifying
into horizontal markets within the cannabis sector. The company’s
wholly owned subsidiary, SingleSeed Payments, is tapping into the
consulting and consumer ancillary markets by being one of the first
merchant service providers targeting the marijuana industry.
SingleSeed, which aims to make cashless transactions and high-risk
credit card processing available to cannabis and other high-risk
companies, offers innovative payment solutions. Regardless of the
current federal banking guidelines and oversight of the FDIC,
SingleSeed is positioned to solve a singular problem facing this
rapidly growing industry. Along with its ability to provide tools
that help cannabis businesses take point-of-sale payments through
cashless ATMs and mobile marketing apps, SingleSeed’s reliable
solutions make secure transactions and communications easy.
As the leading payment solution provider to the cannabis
industry, SingleSeed provides a service that makes life easier and
businesses more effective while keeping customers happy. The
company’s focus on education and providing information for
customers and shopkeepers alike on the key issues facing the retail
and medical cannabis market leads to another important goal –
legitimizing the cannabis industry.
SinglePoint’s rapidly growing recognition in the cannabis
industry, in part, stems from the consistency of its
acquisition-based growth strategy (http://cnw.fm/Jxs62). Each of the company’s
acquisitions was thoroughly evaluated and identified as an
undervalued business with huge potential to bring additional value
to investors before its addition to SinglePoint’s diverse
portfolio.
This portfolio includes an interest in Jacksam Corp., dba
Convectium, a profitable California-based provider of equipment,
branding and packaging solutions for the cannabis industry.
Convectium has developed the world’s first cartridge and vape pen
oil filling machine for wholesale distribution to dispensaries. The
710Shark and 710Seal systems can fill and package
over 100 cartridges or disposable vape pens in 30 seconds and are
sold to dispensaries through its EquipCanna.com brand. The company
also operates a consumer brand that includes BlackoutX and
HazeSticks and reaches customers in over 52 countries.
Year-to-date, SinglePoint has acquired or invested in three
companies, driving revenue growth and solidifying the company’s
revenue-by-acquisition model. Most recently, the company signed a
Letter of Intent (“LOI”) to acquire a 51-percent stake in a
Denver-based company paced to record $1 million in annual
revenue.
“We are committed to identifying and making investments in
companies that strengthen SinglePoint’s value,” SinglePoint CEO
Greg Lambrecht stated in the press release announcing the deal
(http://cnw.fm/vs0M8). “Our goal is to find and
acquire companies we believe will add instant value as well as the
opportunity for major growth.”
Another company lining up to benefit from servicing
cannabis-related businesses is United Cannabis
(CNAB), a biotechnology company with patented
technologies for the pharmaceutical, medical and industrial
markets. The company provides consulting services, proprietary
products, and licenses to its intellectual property that relate to
the legalized growth, production, manufacture, marketing,
management, utilization and distribution of medical and
recreational marijuana and cannabis-infused products. United
Cannabis Corp.’s products include supplements, medical cannabis
therapeutics and pharmaceutical drugs. Its current focus is on
commercializing its patented Prana Bio-Nutrient Medicinal
products.
Sugarmade (SGMD) and Plantation Corp. have
teamed together to solve another cannabis-industry problem – long
term storage. The companies together report success in developing a
proprietary packaging product that stores cannabis in a container
that provides the optimum storage atmosphere for cannabis flowers.
This product – BudLife containers – preserves the important
properties of cannabis, namely the THC levels, terpene quality, and
tricome structure, along with aroma and feel, and solves another
point of concern for cultivators.
Cannabis growers know their plants need to be high yielding and
of a consistent, high quality in order to satisfy consumer and
regulatory demands. GreenGro Technologies (GRNH)
is a national leader in both indoor and outdoor aquaponic and
hydroponic systems and grow rooms utilized by the cannabis
industry. The company’s expertise in agricultural science systems
serves customers in both the consumer and commercial farming
markets. GreenGro’s most recent news announces the debut of its
consumer-oriented food cloning and breeding website that highlights
the company’s wholly owned subsidiary, Genobreeding. This corporate
initiative introduces cutting-edge plant varieties to the cannabis
market through the application of modern plant breeding
techniques.
Not to be outdone, Kush Bottles (KSHB) has
launched a custom design and branding solutions division that
brings a one-of-a-kind look and feel for marijuana product
companies, dispensaries and more. The demand for custom packages
continues to climb as cannabis firms realize brand awareness is of
paramount importance. Kush Bottles utilizes computer-aided design,
drawings and 3-D printings to create unique designs and prototypes
that are cost effective and provide a rapid turnaround time to the
final product. Founded in 2010, the company regularly serves more
than 4,000 legally operated medical and adult-use dispensaries,
growers and producers across North America, South America and
Europe.
SinglePoint’s strategic expansion plans demonstrate the
diversity of investment options in today’s cannabis industry, which
requires companies to be innovative, flexible and responsive to a
changing marketplace, growing consumer base and the businesses that
serve them.
For more information on SinglePoint please visit: SinglePoint
(SING) or www.SinglePoint.com
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