Cannabis Industry Projected to Experience Significant Growth While Legalization Efforts Pick Up Steam

PALM BEACH, Florida, May 23, 2018 /PRNewswire/ --

MarketNewsUpdates.com News Commentary 

The multi-billion dollar cannabis industry is projected to experience 28% CAGR through 2021 en route to nearly $25 billion in annual revenues, according to a study conducted by Cannabis Business Plan. States with large populations like Florida and Arizona are expected to make legalization progress within the next five years, leading to a more competitive, but lucrative overall market in the United States. For perspective, California currently owns roughly 40% of the US market and that number is projected to be cut down to 27% by 2025 as more states get involved through legalization. Other factors influencing the industry's impressive growth include consumer education on the substance, as well as general societal acceptance of cannabis-based products. Active Companies from around the market with current developments this week include: CLS Holdings USA, Inc. (OTC: CLSH), Canopy Growth Corporation (TSX: WEED) (OTC: TWMJF), mCig Inc. (OTC: MCIG), PotNetwork Holding Inc. (OTC: POTN), INSYS Therapeutics Inc. (NASDAQ: INSY).

CLS Holdings USA, Inc. (OTCQB: CLSH) BREAKING NEWS: Snipp Interactive Inc. (OTCQB: SNIPF) (TSX-V: SPN), a global provider of digital marketing promotions, rebates and loyalty solutions, today announced that it has signed an MOU with Cannabis Life Sciences - CLS Holdings USA, Inc. ("CLS"), 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 Cannabis Life Sciences 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 .