Data Shows the Global Legal Cannabis Market Could Eclipse USD 146 Billion by 2025

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NEW YORK, October 3, 2018 /PRNewswire/ —

A report published by Grand View Research estimates that the global legal cannabis market is expected to reach USD 146.4 Billion by end of 2025 and is expected to exhibit a CAGR of 34.6% during the forecast period of 2017 to 2025. The U.S. legal cannabis market alone reached an estimated value of USD 7.06 Billion in 2016 and is expected to grow at a CAGR of 24.9% from 2017 to 2025. Legal cannabis has started gaining momentum globally due to very high demand among consumers and the increasing legalization of recreational and medical products in various countries. An important aspect of the growing industry is the continued diversification of product lines. An increasing number of companies operating in the cannabis market are expected to bolster the quantity and variety of products reaching end users. Victory Square Technologies Inc. (OTC: VSQTF), Future Farm Technologies Inc. (OTC: FFRMF), Choom Holdings Inc. (OTC: CHOOF), MassRoots, Inc. (OTC: MSRT), mCig, Inc. (OTC: MCIG)

Technological innovation is playing an important role in the legal cannabis market. According to Grand View’s research,” the growing research in cannabis industry has led to introduction of new marijuana strains. These advances in new product development is expected to enhance product adoption among consumers. Legal marijuana market is witnessing strong technological and information exchange. Countries like Canada, the U.S., Germany and Australia are expected to emerge as leading markets in terms of sale, whereas, countries like Israel are focusing on research and technology development and are leveraging on knowledge transfer.”

Victory Square Technologies Inc. (OTCQX: VSQTF) is also listed on the Canadian Securities Exchange under the ticker (CSE: VST). Yesterday, the Company announced breaking news that, “its newly established cannabis accelerator Grow Tech Labs (the “GTL”) (http://www.growtechlabs.com) is joining with Launch Academy (http://www.launchacademy.ca) to develop cannabis innovation, entrepreneurship and investment.

‘This is the kind of partnership that demonstrates why Vancouver is a growing technology center,’ said Shafin Diamond Tejani, CEO of Victory Square Technologies. ‘Vancouver will continue to be a leader in cannabis innovation and development. This latest partnership with Launch Academy and Barinder Rasode at the helm of cannabis innovation at GTL, start-up ventures and entrepreneurial teams will have access to Victory Square’s world-leading acceleration program. Victory Square is incredibly excited to add exposure to the growing cannabis sector for our shareholders to partake in its incredible growth. These new opportunities will continue to focus on being on the cutting-edge of innovation.’

By combining forces with Launch Academy, newly established Grow Tech Labs has a foundation to welcome budding cannabis innovators to Vancouver as legalization is announced. GTL was established to drive cannabis innovation by attracting ambitious entrepreneurs from across Canada and around the world to Vancouver. This initiative will aid in extending British Columbia’s international reputation as a leader in recreational and medicinal cannabis innovation and development.

‘I am excited to work with this next wave of entrepreneurs, innovators and leaders who have been brought here by their desire join the innovation that is occurring in Vancouver’s cannabis sector,’ said Ray Walia, founder and CEO of Launch Academy. ‘GTL’s cannabis accelerator is a perfect fit with our philosophy of execution and traction, and I’m looking forward to working with Barinder and helping to guide innovation in this area.’

‘Ray and Launch Academy have a reputation for driving development and innovation in Vancouver. We will work together to drive cannabis innovation in Vancouver using the methods and training Launch Academy has perfected over the last six years,’ said Barinder Rasode, CEO of Grow Tech Labs. ‘Being located in downtown Vancouver with access to a vibrant tech community and easy access to over 80 technology accelerators around the world through Launch Academy, is the kind of advantage I’m excited to extend to entrepreneurs from across Canada and around the world who have ideas for innovation in cannabis.’

GTL will expand BC’s global status as a leading cannabis innovator in the following ways:

  • Providing direct support, access to capital, mentorship and licensed space to locate innovative start-up companies in British Columbia, Canada
  • Delivering world-class programs in innovation, entrepreneurship and mentorship created by successful innovators and entrepreneurs
  • Providing a platform for attracting international investment
  • Accelerating the participation of small BC producers and processors in the legal marketplace
  • Establishing programs dedicated to companies founded and owned by women and Indigenous Peoples
  • Establishing partnerships with community, government, business and education organizations
  • Developing a culture of corporate social responsibility”

Victory Square Technologies is an accelerator with 20+ portfolio companies focused on emerging technologies such as: Blockchain, Machine Learning, Artificial Intelligence and VR/AR. VST has a proven process for identifying and investing in extraordinary start-ups who are working on innovative and disruptive projects in every sector of the global economy, including Finance, Health, Real Estate, Insurance, Cannabis, Entertainment and Education. We use our experience, expertise and resources to help grow and scale these portfolio companies, which results in explosive returns for VST and its shareholders. For more information, please visit http://www.victorysquare.com.”

Future Farm Technologies Inc. (OTCQB: FFRMF) is a Canadian company with holdings throughout North America including California, Massachusetts, Florida, Maine, Puerto Rico and Newfoundland. Future Farm Technologies Inc. recently provided further information regarding the spin-out of 11,000,000 common shares of NexTech AR Solutions Corp. As previously announced, the effective date of the spin-out was August 31st, 2018. Under the terms of the spin-out, any holder of record of Future Farm common shares as of August 30th, 2018 is entitled to receive approximately 0.086145 of a NexTech common share for each common share of Future Farm held by that shareholder. No fractional NexTech shares were issued and the number of such shares issued to each eligible Future Farm shareholder was rounded up or down to the next whole number. NexTech is seeking a listing of its common shares on the CSE. There can be no guarantee that the NexTech shares will be listed on any stock exchange. NexTech AR Solutions Corp. is bringing augmented reality to the cannabis market by turning 2D products into exciting 3D consumer experiences. NexTech is currently developing a proprietary and disruptive Augmented Reality (AR) advertising and education platform that uniquely engages by connecting brands and retailers through a fully immersive 3D AR experience called Native AR.

Choom Holdings Inc. (OTCQB: CHOOF) brand is inspired by Hawaii’sChoom Gang“- a group of buddies in Honolulu during the 1970’s who loved to smoke weed-or as the locals called it, choom. Choom™ recently announced that it has executed an agreement for cannabis distribution with ParcelPal Technology Inc. (OTC: PTNYF). ParcelPal is a technology-driven logistics company that connects consumers with local retailers to get their products delivered quickly and affordably. ParcelPal offers on-demand delivery of merchandise from leading retailers, restaurants, liquor stores and soon medical and recreational marijuana in major cities Canada-wide. Their technology handles the complete requirements of hyperlocal logistics by bringing the merchants and customers onto a single platform. President and Chief Executive Officer Chris Bogart from Choom, states, “We recognize the importance of utilizing the existing technology of ParcelPal’s mobile app in concert with their outstanding track record of home delivery execution. We believe this will provide an exceptional customer experience and we are excited to offer this to our valued customers upon the upcoming rollout of our retail strategy.”

MassRoots, Inc. (OTCQB: MSRT) is one of the leading technology platforms for the regulated cannabis industry. Powered by more than one million registered users, the Company’s mobile apps empower consumers to make educated cannabis purchasing decisions through community-driven reviews. MassRoots, Inc. recently announced it has launched revamped mobile applications in the iOS App Store and Google Play. These mobile applications are expected to serve as a solid foundation for an updated dispensary finder and blockchain-powered utilities to incentivize user-growth and product reviews. These new features, in addition to an updated business portal, are expected to be launched in the coming weeks. “We believe the weeks leading up to April 20th will provide MassRoots a unique opportunity to introduce our updated platform, as well as new features, to cannabis consumers and businesses,” stated MassRoots Chief Executive Officer, Mr. Isaac Dietrich. “We have spent the past several months making significant improvements in MassRoots’ infrastructure, developing blockchain-powered features in our platform, and revamping our business portal. We are excited to release these updates and new features to our community and clients.”

mCig, Inc. (OTCQB: MCIG), headquartered in Jacksonville, Florida, is a diversified company servicing the legal cannabis, hemp, and CBD markets via its lifestyle brands. mCig, Inc. recently announced that the company has launched a CBD Pet Products line, Artax, as well as a new e-commerce CBD market, https://www.CBD.Biz/. Animal lovers are looking for a natural and safe approach to improving the health and wellness of their pets. Recent research shows steady growth in the pet supplement market, with an anticipated compound annual growth rate of 5% between 2018 and 2022. The new CBD pet line, Artax, includes organic CBD infused pet treats, oral drops, shampoo, and oral sprays. Expert-crafted formulations are made with premium, human-grade ingredients and organic hemp extract. “We are excited to launch our premiere CBD product line for pets. These new products have been in the works for some time as we realize the growth of the pet market and its importance to the domestic and international markets,” says Paul Rosenberg, MCIG’s Chief Executive Officer.

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