Cannabis Industry Benefitting From Latest Technological Innovation and Advancements
MarketNewsUpdates.com News Commentary
PALM BEACH, Florida, October 17, 2017 /PRNewswire/ --
The cannabis industry continues to benefit from an injection of tech as innovators develop and introduce the latest technologies, service platforms and advanced products to enhance operations and overall performance for cannabis leaders. The industry is drawing a lot of attention to the legal marijuana sector as well as drawing attention to the fact that it is a high-skill, high-tech market. Active companies in the cannabis market today include: Leafbuyer Technologies Inc. (OTC: LBUY), Medical Marijuana Inc. (OTC: MJNA), 22nd Century Group Inc. (NYSE: XXII), GreenGro Technologies Inc. (OTC: GRNH), mCig Inc. (OTC: MCIG).
Leafbuyer Technologies, Inc. (OTC: LBUY), a leading cannabis technology platform, announced the launch of its search portal, SIMPLE SEARCH. This tool will make it easier than ever for cannabis consumers to find local dispensaries, special offers, and their favorite products. This technological development places Leafbuyer Technologies ahead of the industry in online search technology.
Leafbuyer's marketing and development teams spent nearly a year analyzing the most successful online shopping and deals platforms, which led to the development of SIMPLE SEARCH. "Modern shoppers in any industry want efficient tools they can use to evaluate their options before stepping foot into a retail store. We knew that we needed to enhance our searching mechanism to stand out from our peers, while making it as intuitive as possible. I expect that this new tool will perfectly suit the needs of the modern cannabis consumer," said Mark Breen, Leafbuyer's VP of Business Development. Read this and more news for Leafbuyer Technologies at: http://www.marketnewsupdates.com/news/lbuy.html.
SIMPLE SEARCH allows consumers to search through eight different product categories (e.g. Flower or Cartridges), with additional subcategories (e.g. Indica or High CBD), while using sliders to select THC/CBD levels and pricing. Furthermore, Leafbuyer's dispensary clients can highlight new and attractive offers by purchasing 'featured deal' listings for common searches like concentrate deals in Seattle, WA.
The website redesign sports entirely new features: consumers can easily search through hundreds of local dispensaries' menus to find the flower, edibles, concentrates, tinctures, topicals, or prerolls they seek. Best of all, consumers can search through deals or menus for specific brands or strains. For example, in just a few seconds a cannabis patient in Oregon could find the best menu pricing on ¼ ounces of hybrid flower, search for popular strains like Girl Scout Cookies, or find deals on their favorite edibles brand.
Leafbuyer CEO Kurt Rossner anticipates that the SIMPLE SEARCH function will lead to accelerated growth. "This is the biggest enhancement to our site in company history. We are hopeful that our consumers will find significant value in these new and improved tools. Our dispensary and product clients in over 7 legalized states will experience the greatest benefits. This enhanced platform is specifically designed to drive more Leafbuyer.com consumers to our clients."
In other industry news and developments from around the sector:
Medical Marijuana Inc. (OTC: MJNA) announced last week that it has expanded the size of its operations warehouse, more than tripling the size of the previous site. This expansion is a direct result of the rapid sales growth within the portfolio of companies, and with this growth over the coming months will come approximately 20 new employment opportunities at the operations facility. "This expansion has been needed for a while now, as we were bursting at the seams. The most exciting thing about our new larger facilities and staff is we will be able to process as many as five times the number of orders than previously possible," said Medical Marijuana, Inc. Subsidiary Kannaway® CEO Blake Schroeder.
22nd Century Group Inc. (NYSE: XXII) closed up over 2% on Monday at $2.86 with over 11 million shares traded on the day and was up slightly in afterhours trading. The company recently announced that it has closed a registered direct common stock offering with institutional investors to receive approximately $54 million in gross proceeds through the sale of 20.57 million shares of common stock at a price of $2.625 per share. The net proceeds of the financing will be used for general corporate purposes, including working capital, as the Company enters licensing and strategic partnership discussions with major tobacco companies around the world. In recent weeks and months, several milestone events have highlighted the value of 22nd Century's proprietary technology and have captured the attention of 'Big Tobacco', Wall Street analysts, and public health officials around the world.
GreenGro Technologies Inc. (OTC: GRNH) announced last week that its majority-owned subsidiary, Biodynamics, Inc., was awarded a purchase contract to build a 2-acre turn-key fully automated photovoltaic solar glass hydroponic cannabis greenhouse in Greenfield California, for Canna Culture Collective Inc., San Jose, California. Under the terms of the agreement, Biodynamics will construct a 88,364 sq. ft. PV solar glass hydroponic cannabis greenhouse for Canna Culture Collective, Inc., and expects to start construction as soon as permitting is complete in the first quarter of 2018. The project will incorporate Biodynamics' proprietary fully automated positive pressure PV solar glass greenhouse technology, and will be used by Canna Culture to cultivate medicinal cannabis using the Biodynamics proprietary multilevel controlled environment agriculture growing systems and techniques. "We are excited about this opportunity to showcase our fully automated positive pressure solar glass hydroponic greenhouse technology in the legal California cannabis industry," said Trisha Madden, CEO Biodynamics, Inc.
mCig Inc. (OTCQB: MCIG) recently announced it has entered into the cryptocurrency market, partnering with Render Payment during its Pre-ICO (Initial Coin Offering). The cannabis industry has traditionally been rife with illicit and underhanded transactions, but it is now moving towards greater legitimacy. Research shows powerful health benefits of cannabis and strong social movements are pushing for increased legalization. One way to improve the reputation of the industry is to modernize it, make it standardized, fully verifiable, and built on a system of trust between patients, doctors, growers, suppliers, merchants, bankers, and customers. New blockchain technology offers an ideal solution. Since blockchain holds an immutable ledger and assured contracts, it can easily accommodate the recording of financial transactions from seed acquisition to product delivery giving consumers confidence and surety in the placement of their orders.
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