On Wednesday a reinvigorated Massroots Inc. (OTCQB:MSRT) announced their new plan of attack to gain market share in California’s recreational market which opens on January 3. The company quoted stats from ArcView Market Research showing that California’s market expects to grow to $6.5 billion by 2020. As a “leading technology platform” for the cannabis industry, MassRoots hopes to attract both consumers and business in the upcoming new year.
MassRoots is a social media platform where users rate various strains and cannabis products based on different variables. These variables include whether or not the product efficiently treats pain or helps in treating epilepsy.Consumers can then make educated purchasing decisions based on crowd-sourced reviews of individual products at different dispensaries. Advertising on the platform brings in revenue from the business community.
"We believe California offers the opportunity of a lifetime for MassRoots and its shareholders," stated MassRootsCEO Isaac Dietrich. "There are thousands of businesses are in the process of revamping their operations to comply with newly-implemented state regulations. Our goal is to have as many of these business processes utilizing the MassRoots platform as possible and establish our Company as a dominant player in the California cannabis market."
The company recently launched an all-out social media campaign across several favorite sites such as Facebook and Snapchat to drive up consumer use of their website.
mCIG’s New Direction
Where Are You Going, Where Have You Been… Cryptocurrency aficionado mCIG Inc. (OTCQB:MCIG) presented on Thursday a new direction for the company. In a shareholder’s report, CEO Paul Rosenberg described how the cannabis company that started with vapes evolved into a holding company. He went on to explain that mCIG’s ultimate goal is to obtain a cultivation license to grow cannabis.
The company is now focused on a “vertically integrated business model,” with a vital importance placed on manufacturing and distributing cannabis products. Furthermore, according to Rosenberg, hemp is now a part of mCIG’s long-term plans, as the company has recently made a deal to grow the product in upstate New York. Finally, as reported earlier, mCIG joined the crypto-craze this year, with their new company Obitx helping other businesses set up blockchain operations and launch their Initial Coin Offerings (ICO).
“We’ve learned many lessons and have weeded out incompetence, inefficiency and inadequacies,” remarked Rosenberg. “Finally, I want to say, that I am proud of our management team. The company made smart decisions during 2017. We grew our shareholder base, expanded our business, and built a team of people who care about this company and its shareholders. We have a clear plan of how we see the future and where we want this company to be.”
Veritas Subsidiary Cannevert Receives License
If they do not give you work or bread, then take bread… Veritas Pharma Inc. (CSE:VRT) (OTC:VRTHF) received a bit of good news this week, as the company announced that its subsidiary Cannevert Therapeutics Ltd. received a dealers license from Health Canada. According to a release from the company, the license grants them the ability to “possess, produce, analyze, sale, send, transport, and deliver cannabis, hemp and related products.” Cannevert plans to use the license to become a chemistry and biological testing service in the commercial sector.
Currently, Cannevert focuses on the treatment of different medical ailments through the identification of new cannabis strains. In the new year, the subsidiary hopes to expand its operations with new equipment and new testing space on the campus of the University of British Columbia. The company also expects to secure a license to grow cannabis for research purposes shortly.
“We are excited that Cannevert scientists will now not only be able to obtain a variety of cannabis strains and related products from multiple licensed producers in Canada, but also from around the world with an acquired import permit, “ remarked Veritas CEO Dr. Lui Franciosi. “They will also be able to produce cannabis liquid extracts and even send them with an export permit to other parts of the world for further laboratory and clinical trial testing.”
Dude, on a scale from 1 to 10, 1 being not so extreme and 10 being extremely extreme, I give this a 9.5… On Thursday Puration, Inc. (USOTC:PURA) announced that Arnold Schwarzenegger's Annual Arnold Sports Festival would be the launching point for their new Strawberry Kiwi and Lemon Lime flavored EVERx CBD Infused Sports Waters. It is the second year in a row for the company, after introducing EVERx products at Arnolds event last year. EVERx products sell at Drug Emporium, and the company hopes to expand on that shortly.
This is the 30th anniversary of the festival, which takes place from March 1-4, 2018.
Anyone who lives within their means suffers from a lack of imagination… Medical marijuana company Delta 9 Cannabis Inc. (TSXV:NINE) announced on Thursday the closing of their previously announced $23 million bought deal financing. Proceeds will go towards expansion of the company’s cannabis cultivation operations, as well as for “general corporate purposes.” A group of underwriters led the offering, led by Canaccord Genuity Corp.
CEO John Arbuthnot said of the deal, "we believe that the proceeds from the base offering provide us with the ability to achieve our stated goal of having 373 grow pods producing 12,000 kilograms of cannabis on an annual basis by the end of 2019.
News and Notes
I am so smart! S-M-R-T... I mean S-M-A-R-T… Brand marketing company Sugarmade, Inc. (OTCQB:SGMD) released a statement today outlining their goals to become “the world’s largest” cannabis supplier. It is a new direction for the company that touts itself as investing in “products and brands with disruptive potential.” Included in the company’s outline are plans to expand personnel, obtain more office space, and to consolidate their warehouse space.
A nickel ain’t worth a dime anymore (part iv)... Terra Tech Corp. (OTC:TRTC) issued a 12% Senior Convertible Promissory Note due June 26, as filed an 8-K with the SEC. The principal amount is $5.5 million.
Closed for business… Without warning on Thursday the IIORC halted trading for Namaste Technologies (CSE:N), citing a single stock circuit breaker. According to the IIORC, a halt can be placed to ensure “a fair and orderly market.”