COSTA MESA, CA--(Marketwired - Jun 19, 2013) - Vitamin Blue Inc. (
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.
- Health Care Industry
- medical marijuana