The legal worldwide market is expected to grow to $146 billion by the end of 2025 according research groups. With the changes in law many traditional businesses are looking at making a mark in the market, especially investment firms like Chemistree Technology.
The growth of the cannabis industry and current news has been exploding in recent years. This is due to the demand of quality legal cannabis products and the changing cannabis laws in US and abroad. There have not only been great changes in US legalization but also worldwide countries like South Africa, United Kingdom, Thailand and Israel have made changes to their criminalization of cannabis use amongst adults. Many countries are considering decriminlization of cannabis and while these changes are taking effect, US based businesses are quickly making plans to enter these markets.
A new partnership between Chemistree Inc. ( OTCQB: CHMJF ) (CHM:CN) and Applied Cannabis Sciences ( ACS ) will see a fruition in the Sunshine State when New Jersey goes through the latest round of applications of licensing for medical marijuana. ACS wants to supply medical marijuana to the 9 million strong citizens of New Jersey who are currently only served by 12 registered licensees in the medical marijuana program.
Chemistree Inc. brings a lot of resources to the table like assets in Canada and Washington State plus a strong arm of investment capital. They have a vision of not only dominating the local US market but also have keen interest on the international legal cannabis market.
Canada has already legalized recreational marijuana use as well has long established medical marijuana program. Chemistree Inc. has already established itself in the Canadian legal market and has the experience,expertize and make it a cannabis company that is taking advantage of the changing US laws. ACS offers over 50 years of collective cannabis experience and assets of licenses in four states for cultivation, processing and manufacturing, namely Colorado, Washington, Oregon and California. Once the deal is concluded investors will see a great return on capital invested as the synergy of both businesses resources are used within the legal framework.
“We are really happy about establishing a partnership with this experienced group and the potential to expand Chemistree’s presence outside of California and Washington state and ultimately introduce our signature brand Sugarleaf to the large New Jersey consumer base.
The state is home to over nine million people currently being served by only 12 cannabis operators in its medical program. New Jersey is a logical place for Chemistree to expand into and bring the Sugarleaf brand to the Garden State market.
I would like to specifically thank Nico Escondido, our newest board member for the introduction to this exciting opportunity and I am impressed with the impact he has already had on our company!”
Karl Kottmeier – President / CEO of Chemistree Technology Inc.
( OTCQB: CHMJF )
The growth of the legal cannabis market has already been exponential and in the future we will see an even steeper growth. As companies such as Chemistree and ACS break ground in the establishing medical marijuana industry many other companies will join suit and take their piece of the American pie.