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TORONTO, ONTARIO--(Marketwired - Jan. 12, 2018) - PUF Ventures Inc. ("PUF Ventures") has announced the completion of the arrangement and plan of arrangement (the "Arrangement") with Cannvas MedTech Inc. ("MTEC"). (3-0)
Expansion in the North American legal marijuana, cannabis and hemp industry, along with Mexico recently legalized medical marijuana, as well as Canada debating legislation to legalize recreational marijuana use in 2018, industry professionals believe all indications are pointing to the fact the current growth and expansion in the industry is expected to pick up steam in the upcoming months for a number of marijuana companies and operators. (18-1)
A research by Arcview Market Research forecasts growth will reaccelerate beginning in 2018, as adult-use sales ramp up in Canada, California and Massachusetts along with medical sales in Florida. That will grow the $6.7 billion market of 2016 at a robust 27% CAGR to $22.6 billion in 2021. The report indicates that the 20+% annual growth rate is likely to continue for many years past 2021 as more states and countries legalize cannabis.
As the demand for CBD-based products explodes in the U.S. and continues to thrive across the globe, Cannabis-based companies race to develop and introduce the newest and higher quality products to capitalize on the momentum. Much like most of the cannabis and legal medical marijuana market, vendors and manufacturers focus on delivering a high degree of quality infused in their CBD-based products. Cannabis companies in the news or active in the markets this week include: Earth Science Tech, Inc.