Rise of U.S. and Canadian Legal Cannabis Dispensaries Putting Major Strain on Inventory

PALM BEACH, Florida, April 24, 2019 /PRNewswire/ -- In both Canada and the U.S., the number of retail stores and dispensaries has been exponentially growing since the end of 2018. The number of restrictive regulations is diminishing while the legalization process has opened more markets. Licenses for not only growers and production facilities is also on the rise, but the raw number of retail outlets and dispensaries seems to be actually outpacing the available supply of product needed to fill their shelves! A recent article in Forbes said: "2018 was a momentous year for cannabis advocates as Canada (legalized) recreational marijuana use. Canadians and cannabis companies alike eagerly awaited legalization, but the rollout hasn't been as smooth as they would have liked. The most pressing problem facing the country's legal weed market is the fact that, in the majority of provinces, suppliers are unable to meet demand, (leaving) many retailers with just a fraction of the promised products. In many areas, the supply shortage may last well into 2019. Active Companies from around the market with current developments this week include:  Marijuana Company of America, Inc. (OTC:MCOA),  PotNetwork Holdings, Inc. (OTC: POTN), Golden Leaf Holdings Ltd. (CSE: GLH) (OTC: GLDFF), Liberty Health Sciences Inc. (CSE: LHS) (OTC: LHSIF), CBD Unlimited, Inc. (OTC: EDXC).

Some experts say the bottleneck exists in the regulatory approval by Health Canada of Licensed Processors and Cultivators. "Health Canada has added significant resources to attempt to shorten the approval process, but the backlog is significant," (an industry insider) explained. "In the coming months, we expect to see this supply shortage ease. On the opposite end of a product shortage is strong product pricing for cannabis producers and retailers. A gram of high-quality cannabis in Vancouver, Canada, for example, sold for $189.69 an ounce. Meanwhile, in Portland, Oregon, where an overabundance of marijuana is begging to cross state lines, you could buy an entire ounce of similar high-quality cannabis for around $100."  

Marijuana Company of America, Inc. (OTCQB:MCOA) BREAKING NEWS:  Marijuana Company of America, an innovative hemp and cannabis corporation, is pleased to announce the appointment of Mr. Edward Manolos as an independent director.  Mr. Manolos is one of the most accomplished pioneers in the medical marijuana industry, having opened the very first medical marijuana dispensary in Los Angeles County in 2004 called CMCA. He is also credited with starting Los Angeles' first medical marijuana farmers' market referred to as "The California Heritage Market," which attracted local and international media attention. Mr. Manolos has been a member of the Company's Strategic Advisory Board since 2016.