Sales of Legal Cannabis Expected to Grow Domestically and Globally

NEW YORK, May 24, 2018 /PRNewswire/ --

According to data provided by European investment bank Bryan, Garnier & Co., the legal global cannabis market is projected to grow more than 1,000% over the next decade and could reach $140 billion dollars by 2027. Arcview Market indicated recently that while California gets the media attention and Canada gets the investment dollars as the country expects to legalize cannabis for recreational use, the recent changes in European countries like Germany's move to make cannabis flower available for medical use in pharmacies was really the big news of 2017 from a worldwide perspective. Snipp Interactive Inc. (OTC: SNIPF), CLS Holdings USA, Inc. (OTC: CLSH), GB Sciences, Inc. (OTC: GBLX), Terra Tech Corp. (OTC: TRTC), Supreme Cannabis Company, Inc. (OTC: SPRWF)

In the U.S the potential financial benefits from legalization are important economically and politically. In states like California for example, where new recreational cannabis laws went into effect in the beginning of the year, analysts are projecting an increase in sales of Cannabis, contribution to California's tax revenue and job creation. Arcview Group analysis estimates that it will lead to the creation of nearly 99,000 cannabis industry jobs in the state by 2021, about a third of all cannabis jobs nationwide, and 146,000 jobs overall. Troy Dayton, CEO of The Arcview Group explained, "The economic excitement around the legal cannabis industry is no longer just theory. Due to the giant impact adult-use legalization is already having in the United States, it's vital for key stakeholders to understand the full impact of legalization, beyond just retail sales numbers."

Snipp Interactive Inc. (OTCQB: SNIPF) is also listed on the TSX Venture Exchange under the ticker (TSX-V: SPN). Yesterday the company announced breaking news that, "it has signed a Master Services Agreement ("MSA") with CLS HOLDINGS USA, ("CLS") (OTCQB:CLSH), who is in the process of finalizing its purchase of Oasis Cannabis a "seed to sale" company focusing on Cultivation, Production and Dispensaries. CLS showed interest in the Company's solutions by signing up on its recently launched Cannabis Marketing Resource Center ("CMRC").

In addition, CLS is the developer of a proprietary patent-pending extraction and conversion methodology that has potential to increase yield and quality of cannabinoid oils extracted from cannabis plants. CLS is in the process of expanding its business strategy to include cultivation, production, and retail dispensaries, and is currently in the process of acquiring Oasis Cannabis, a Las Vegas based vertically integrated cannabis company. To learn more visit https://www.clsholdingsinc.com

Snipp will, pursuant to the MSA, implement a customer loyalty management platform covering all CLS locations across Snipp's SnippCheck, SnippRewards and SnippLoyalty platforms. Snipp will leverage the accumulated knowledge and deep expertise it has acquired in designing and launching marketing programs in other highly regulated industries like Pharma, Alcohol and Tobacco to help CLS run effective and legally compliant promotion and loyalty programs to meet their marketing objectives.

"We have explored a number of loyalty platforms and after extensive review and consultation with Snipp have concluded that Snipp's robust and highly flexible platform allows us to deploy a system that we can leverage as we grow the CLS platform," said Jeff Binder, CEO of CLS.

"We are energized by the interest received in our platform and expertise by entities in the cannabis industry. Clearly there is a need that is currently unmet for flexible marketing solutions that can be leveraged across the industry ecosystem and we hope to be the go to resource that fills that need. CLS is a great example of a forward looking company that intends to run a vertically integrated business that is already thinking through the finer points of their future business and operating model," said Atul Sabharwal, CEO of Snipp."

CLS Holdings USA, Inc. (OTCQB: CLSH) plans to become a diversified cannabis company and is shifting its corporate strategy to becoming a fully licensed integrated cannabis producer and retailer in Nevada and other states. Recently, the company announced that its proposed acquisition of Oasis Cannabis has progressed and is now expected to close by the end of June 2018. The parties mutually agreed to extend the purchase agreement to June 21, 2018. This extension timeline remains in the initial expectation of closing by the end of the second quarter 2018. The extension is due to additional time needed to complete certain license transfer documentation. Oasis Cannabis has operated a cannabis dispensary in the Las Vegas market since dispensaries first opened in Nevada in 2015 and has been recognized as one of the top marijuana retailers in the state. Its location within walking distance to the Las Vegas Strip and Downtown Las Vegas in combination with its delivery service to residents allows it to efficiently serve both locals and tourists in the Las Vegas area.

GB Sciences, Inc. (OTCQB: GBLX) is a diverse cannabis company, focused on standardized cultivation and production methods; as well as biopharmaceutical research and development. On April 10, 2018, GB Sciences, Inc. announced the company is planning to file an Exploratory IND and perform a Phase 0 Clinical Trial to gather valuable First-In-Human data on its proprietary cannabis-based therapies for the treatment of early to moderate Parkinson's disease. The GB Sciences' Exploratory IND program is designed to allow the company to make informed, data-driven choices in selecting and prioritizing the development of multiple, related drug compositions and formulations. An Exploratory IND requires less pre-clinical data and offers a more flexible way to get essential information about potential drug development candidates than a more conventional early phase development program. Performing an FDA-Registered clinical trial, instead of a Nevada-based pilot trial as reported earlier, also translates to quicker entry into international markets with harmonized regulatory standards.

Terra Tech Corp. (OTCQX: TRTC) is a vertically integrated cannabis-focused agriculture company. Earlier this month, the company announced its first quarter 2018 financial results for the period ended March 31, 2018. Total revenues generated for the quarter ended March 31, 2018 were approximately $8.6 million, an increase of 26% from $6.8 million in the same period in 2017. This growth was primarily due to revenue generated by the Company's dispensaries in California and Nevada and from revenue generated by Edible Garden from the sales of its produce and herbs. Terra Tech received State of California Temporary Authorization to cultivate, manufacture, distribute and retail cannabis to the adult-use market, following California's legalization of adult-use cannabis sales effective January 1, 2018. This significantly expands the Company's potential customer base in California beyond the medical market, which it has been servicing since April 2016.

Supreme Cannabis Company, Inc. (OTC: SPRWF) is a Canadian publicly traded company committed to becoming a leading cultivator and distributor of sun grown cannabis through its wholly-owned subsidiary 7ACRES. 7ACRES is a federally licensed producer of medical cannabis pursuant to the ACMPR operating inside a 342,000 sq. ft. Hybrid Facility. On March 20, 2018, the company announced that it has entered into a definitive agreement pursuant to which Supreme Cannabis will complete a C$10,000,000 strategic equity investment in Medigrow. Upon completion of the Investment, Supreme Cannabis will hold an approximate 10% ownership interest in Medigrow. Supreme Cannabis expects strong demand to exceed supply for medical cannabis oil globally and believes Lesotho is well suited to produce quality cannabis oil and Medigrow possesses the expertise to meet the highest quality standards. Concurrent with the completion of the Investment, Supreme Cannabis and Medigrow have agreed to enter into a long-term global distribution partnership for medical cannabis oil (as defined in the Access to Cannabis for Medical Purposes Regulations). The cannabis oil will be produced by Medigrow in Lesotho and subject to all government, and international regulatory approvals, the oil will be exported to Canada and other international markets.

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