Legal Cannabis Sales Projected to Rise as Demand and Legalization Grow

NEW YORK, January 4, 2018 /PRNewswire/ --

A report by New Frontier Data in partnership with Arcview Market Research, indicates that the legalization of cannabis in California, Massachusetts, Nevada, Florida, Arkansas and North Dakota will result in new markets that will account for $7.1 billion in sales by 2020. The data in the report projects that the overall U.S. cannabis market will exceed $20.9 billion by 2020. By segment, the medical cannabis market was worth $4.7 billion in 2016 and is expected to grow to $13.3 billion by 2025. Recreational cannabis sales during the same period are projected to grow at a 21 percent CAGR, from $1.9 billion to $10.9 billion. The medical applications of cannabis products are growing in popularity, as they can be applied for various medical conditions. Glance Technologies Inc. (OTC: GLNNF), Cannabis Sativa, Inc. (OTC: CBDS), 22nd Century Group, Inc. (NYSE: XXII), Innovative Industrial Properties, Inc. (NYSE: IIPR), United Cannabis Corporation (OTC: CNAB)

California's new recreational cannabis laws went into effect this month. New Frontier Data CEO, Giadha Aguirre de Carcer explained, "Significant changes are already underway in California for medical cannabis and adult use laws, which we see will have major implications for the cannabis industry, including ecommerce and delivery services in the state… As the largest state in the country - and the largest potential market for cannabis products - the implications for the growth of the industry because of California's adult use market cannot be overstated."

Glance Technologies Inc. (OTCQB: GLNNF) also listed on the Canadian Stock Exchange under the Ticker 'GET'. Just earlier today announced breaking news that, "its partially owned subsidiary Cannapay Financial Inc. ("Cannapay") has signed a definitive agreement to receive $4 million for licensing and product pre sales with Cannabis Big Data Holdings Inc. ("Cannabis Big Data").  Pursuant to the agreement, Glance Technologies will receive a $1 million fee for the sublicense of Glance's mobile payment app technology.

The agreement is entered into between Fobisuite Technologies Inc. ("Fobisuite"), Cannapay, Cannabis Big Data and Cannapay wholly owned subsidiary Juve Wellness Inc. ("Juve"). Fobisuite has architected a multi-faceted parallel, usb serial interface that is a bilateral communicative hardware device for the purpose of enabling the authentication and transaction of cryptocurrency in a retail point of sale environment.  Further, it has data collection, analysis, analytics and encryption technology built on blockchain technology.  Cannabis Big Data will combine the technology licensed from Cannapay and big data analytics hardware and software from Fobisuite to provide insights for cannabis retailers and producers and allow retail partners to transact in cryptocurrencies like bitcoin.  Further, through its license with Juve it will offer a white label solution for 12 wellness products with customized branding for dispensaries in North America.

"Cannabis Big Data will offer big data analytics for the cannabis industry. Our value prop is in merging customer purchase and basket history with social media and mobile data to create highly personalized customer journeys. The Fobisuite technology can analyze and process online, in-store and mobile commerce to provide valuable insights to retailers, dispensaries, and manufacturers, and allows retailers to transact in cryptocurrencies," says Rob Anson, CEO of Cannabis Big Data, "By partnering with Cannapay we will be able to offer a full circle digital media and mobile strategy for our industry partners. We've found an effective way of combining blockchain with big data and cannabis."

The following are the material terms of the agreement:

-Fobisuite will license all of its technology to Cannabis Big Data for $4,000,000, payable $200K in cash and $3,800,000 in stock for 15,200,000 shares at $0.25 for a 10 year licence, and renewable for $10,000 per year.

-Cannapay will sublicense the Glance Pay mobile payment platform technology to Cannabis Big Data for $2,000,000 for a one year license, payable in stock at $0.25 per share for 8,000,000 shares, of which 4,000,000 shares will be payable to Glance Technologies as a sublicense royalty, and the sublicense renewable for $10,000 per year.

-Cannapay subsidiary Juve Wellness will grant to Cannabis Big Data the non exclusive right to distribute 12 products (including massage oils, soaps, lip balm and bath bombs) (the "Products") to cannabis dispensaries in North America, with a $200,000 advance order for products, at wholesale prices, payable by Cannabis Big Data in cash within 2 weeks of Cannabis Big Data completing financing of $1,000,000.  

-Juve will license for $1,800,000 (payable all in stock of Cannabis Big Data at $0.25 per share for 7,200,000 shares), the non exclusive license to the formulas of the Products and rights to create a white label manufacturing service to provide customized branded versions of the Products for dispensaries in North America, which may only be licensed, produced and sold in accordance with all applicable laws and regulations."

Cannabis Sativa, Inc. (OTCQB: CBDS) is engaged in the licensing of cannabis related intellectual property, marketing and branding for cannabis based products and services, operation of cannabis related technology services, and ancillary business activities. On December 4, 2017, the company announced that its subsidiary, PrestoDoctor, is expanding its online medical marijuana recommendation services into New York. PrestoDoctor currently serves patients via both their online platform and with dispensary kiosks operating in California and Nevada and will now extend their online services to patients located in the State of New York. "We appreciate and applaud all the hard work and diligence the Presto Doctor team has done to expand its service into the New York market", said Cannabis Sativa President David Tobias.

22nd Century Group, Inc. (NYSE: XXII) is a plant biotechnology company focused on genetic engineering and plant breeding which allows the increase or decrease of the level of nicotine in tobacco plants and the level of cannabinoids in hemp/cannabis plants. The Company's primary mission in hemp/cannabis is to develop proprietary hemp/cannabis strains for important new medicines and agricultural crops. Hemp crops are tested for THC levels; under U.S. federal law, crops containing above 0.3% THC are required to be destroyed. Currently, farmers cannot obtain crop insurance to protect against this risk. 22nd Century has developed a solution to this problem by creating industrial hemp plants that contain zero THC. The Company's ongoing research is product-oriented and focused on developing a range of next generation industrial hemp plants that contain optimized levels of medically important cannabinoids, such as CBD, CBC, and CBG.

Innovative Industrial Properties, Inc. (NYSE: IIPR) is a self-advised Maryland corporation focused on the acquisition, ownership and management of specialized industrial properties leased to experienced, state-licensed operators for their regulated medical-use cannabis facilities. On December 18, 2017, the company announced that it closed on the previously announced acquisition of the property located at 5900 West Greenhouse Drive in Willcox, Arizona, which comprises approximately 358,000 square feet of greenhouse and industrial space. As previously disclosed, the purchase price for the property was $15.0 million. A subsidiary of The Pharm, LLC, the tenant at the property, is also expected to complete tenant improvements for the building, for which the Company has agreed to provide reimbursement of up to $3.0 million. Assuming full reimbursement for the tenant improvements, the Company's total investment in the property will be $18.0 million. The Pharm is one of the largest wholesalers of medical-use cannabis in the state of Arizona.

United Cannabis Corporation (OTCQB: CNAB) is a biotechnology company dedicated to the development of phyto-therapeutic based products supported by patented technologies for the pharmaceutical, medical, and industrial markets. On December 27, 2017, the company announced that it has secured an industrial building in Colorado where the Company will construct a state-of-the-art industrial hemp processing plant to provide contract manufacturing to farmers working under the 2014 Federal Farm Bill and Colorado's Department of Agriculture's Industrial Hemp Program. The multi-function Facility will include extraction, purification, testing and processing equipment, as well as packaging, fulfillment, and secure storage capabilities. Services offered by the Company will enable farmers to convert harvested industrial hemp plants into a range of products, from simple extracts to capsules to sublingual drops, and have them packaged for resale. The processing plant will also have the capability to process raw hemp seed through cold press extraction. Valuable fibrous bi-products generated through the processing will also be collected for sale to a wide range of consumer product industries.

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