Vitamin Blue Enters 46 Billion Dollar US Medical Marijuana Market
June 19 2013 - 5:00PM
Marketwired
Vitamin Blue Inc. (OTCQB: VTMB) recently announced its new business
plan that calls for acquisitions and growth in the Hemp/Organic
clothing industry. In addition to its current operations and
shifted direction, the Company is in current talks to do a joint
venture with local medical marijuana dispensaries.
Based on extrapolations of Washington State's Office of
Financial Management, estimates that the total US marijuana
marketplace could be as big as $46.42 billion per year if cannabis
were legalized nationally. This does not include ancillaries such
as hydroponics or paraphernalia, or services to the dispensary
industry such as landlords, testing labs, security systems,
insurance, and advertising.
The legalization of medical marijuana in several states has
paved the way for a budding edible medical marijuana industry and
the Company is expanding into this exploding new marketplace of
medical marijuana and cannabis edibles.
Medical marijuana edibles have been popular ever since the 60s,
when people would prepare it in the oven in brownie and cake mixes
to stimulate the Tetrahydrocannabinol (THC, marijuana's active
ingredient). Modern medicinal marijuana distributors and retailers
have mastered preparing many different edible products. Now
patients have several ways in which they can take their medication,
in contrast to only being able to smoke or vaporize it.
"We are pleased to make great progress in our recent purchase
order for hemp/organic clothing. Management has decided that with
the recent growth in the edible marijuana market and the
legalization of medical marijuana in various states, this industry
is where we'll want to be and the time is now to take action,"
stated Frank Ornelas, Chief Executive Officer. "Additionally, the
due diligence on our planned joint venture in the Medical Marijuana
market are proceeding as planned and we hope to have an
announcement in the near future on this and other initiatives."
About Vitamin Blue, Inc. (http://www.vitaminblue.com/):
Vitamin Blue designs, develops, produces and distributes water
boardsports apparel, accessories and related products. Founded in
1999, the Costa Mesa, California based company is part of the
consumer goods sector and nondurables industry. Recently the
company has shifted its focus and direction on hemp/organic
clothing line as well as branching into the edible medical
marijuana market.
Forward Looking Statements:
This press release contains forward looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Any statements made in this press release that are not
statements of historical fact, including statements about our
beliefs and expectations, are forward looking statements. Forward
looking statements include information concerning possible or
assumed future results of operations, including descriptions of our
business plans and strategies. Although we believe that these
forward looking statements are based on reasonable assumptions, you
should be aware that many factors could affect our actual financial
results or results of operations and could cause actual results to
differ materially from those expressed in the forward looking
statements, including, without limitation, the factors described
under "Risk Factors" and "Management's Discussion and Analysis of
Financial Condition and Results of Operations" of our Securities
and Exchange Commission filings.
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