Salt Lake City, UT / ACCESSWIRE / November 6, 2014 / As Cannagrow Holdings, Inc. (CGRW) further establishes itself in Colorado and strengthens its association with licensed cannabis growers in the region, cannabis measures voted into law on election day in several states should place CGRW in an ideal position to see substantial gains in a cannabis market that could prove to be far larger than anyone could have predicted over the next two to three years.
Cannagrow, which trades at .12 per share, continues to make precise, assertive moves, seemingly every week for the past several months, that solidify its place among the new leaders in the medical and recreational cannabis industry. Not only did the Company recently adopt a new brand and symbol, but it hired Rod Clawson to facilitate its expansion into the Colorado cannabis industry. Clawson brings not only decades of executive management experience to the company, but also over 30 years worth of residence in Colorado that come with a wealth of knowledge and connections.
In addition to this and other leadership acquisitions, the Company launched a new flagship website that chronicles its progress and market stature while keeping investors up-to-date. Additionally, at the beginning of October the Company executed an important lease agreement with NuGro industries for five years (with possible extensions) that will allow Cannagrow to become directly involved with all facets of the industry's development and production techniques.
Cannagrow finds itself at the heart of an accelerating industry. The market for wholesale and retail cannabis grew to $1.3 billion in 2013 with the legalization of marijuana in Colorado at the end of the previous year, and that number is projected to double by the end of 2014, only to reach over $10 billion by 2018. Legalization amendments in Oregon, Alaska, and Washington D.C. all passed, allowing for the taxation and regulation of marijuana, and hence its legal sale; but even ballot measures that failed still made waves, such as Amendment 2 in largely conservative Florida, which would have granted the right to the use of medical marijuana and only failed by a miniscule 3% of the vote.
These developments mean that new markets for cannabis research, medical use, and recreational use will be opening up all the time. It only takes one company as industrious as Cannagrow to seize upon these new markets and elevate share value. Take for example GW Pharmaceuticals (NASDAQ:GWPH), which now trades at 71.34 after successfully developing a portfolio of cannibinoid treatments that includes Sativex, a cannabis-based drug that alleviates spasticity in Multiple Sclerosis and has been shown to help pain symptoms from cancer. Sativex is used in 15 different countries, and it appears to be only a matter of time before it makes its way to the U.S.
Along with the evolving American culture that continues to be increasingly inclusive of cannabis, new trends have coincided with and flourished alongside the cannabis industry. Industrial hemp, which is made out of the fiber and seeds from a particular variety of cannabis, has experienced a resurgence in popularity on which the company HEMP, Inc. (HEMP) manages to capitalize. With a huge volume of over 49M, HEMP stands to benefit from the boost in the cannabis industry just as much as more "traditional" cannabis companies.
New techniques in growing have also sprouted up, with Terra Tech (TRTC), which holds a market cap of over 76M, emerging as one of the more innovative companies. TRTC specializes in creating "renewable solutions for food production, indoor cultivation, and agricultural research and development." The company places emphasis on urban gardening, which usually means growing takes place both indoors and vertically. By facilitating state-of-the-art growing techniques, TRTC could capitalize on an untapped segment of the cannabis industry.
HempMeds offers mainstream marketing, sales, customer service, and logistics for the cannabis industry. HempMeds is a corporate portfolio company of Medical Marijuana, Inc. (OTC Pink:MJNA) and the Company's exclusive master distributor and contracted marketing company. In addition to handling sales and distribution, HempMeds is the communication hub for the Medical Marijuana Inc. portfolio of companies.
With a shifting culture spearheading a movement toward not only acceptance, but even widespread growth and use of cannabis, companies like Cannagrow Holdings, Inc. are primed for success. New legislation in several states means a steady rate of new customers for both medicinal and recreational cannabis. Tertiary companies like HEMP and TRTC only enhance the diversity rate-of-growth of the industry. Given Cannagrow's status as a major player in Colorado, the epicenter of the cannabis industry, sustained growth appears to be a big part of the plan for this exciting new company.
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SOURCE: Seraphim Strategies