It’s not hidden after the historical legalizations, one of the fastest booming industries in the United States is none other than the cannabis industry. ArcView Market Research issued a report, which comprises forecast of the legal marijuana industry estimating it will post yearly sales of $21.8 billion by 2020. Cannabis Science Inc (OTCMKTS:CBIS) is all set to capitalize on the opportunities offered in this growing cannabis industry.
The research group performed comparison of the authorized marijuana industry which could surpass countrywide Football League, which witnessed around $12 billion of revenue in 2015 but is signaling to hit $25 billion by 2027. In addition, 60% of the U.S. residents want to approve cannabis with a growth of 31% compared to 2000.
The highlights
Cannabis Science specializing in the advancement of cannabinoid-based drugs, has commenced its first cannabinoid drug advancement land deal buildout in Nevada. The preliminary stage of the buildout is set to comprise 33,000 sq. ft. of greenhouse area. With a considerable piece of land kept for greenhouse space, the company can commence growing for CBD extractions rapidly, and in optimal conditions.
It will allow the firm direct access to particular cannabinoid combinations for drug development and research, which will boost the procedure of getting increased products out to increasing customer base. The firm is working to decide the best site on the lands to construct and launch Raymond C. Dabney University. It will be the main point of a self-sustaining group that emphasizes clinical and academic studies of business, agriculture, medicinal science and law as they link to CBDs and other real world study and application.
Raymond C. Dabney, the CEO, said that it is such a wonderful feeling to witness their great plans coming to fruition. They are hitting the ground, and soon they will be cultivating specific CBD combinations with their associates to study and advance into a wide range of new medications for all self-medicating patients. It is the dawn of a new period for Cannabis Science.
