Information contained on this page is provided by an independent third-party content provider. WorldNow and this Station make no warranties or representations in connection therewith. If you have any questions or comments about this page please contact email@example.com.
SOURCE The CannaBusiness Group, Inc.
MISSION VIEJO, California, February 18, 2014 /PRNewswire/ --
The CannaBusiness Group, Inc. (OTC: CBGI) today announced that they have entered the growing Marijuana Industry and have changed their name as well as the trading symbol.
Their will be changes to the company's management to reflect the new direction and business plan of the company. As part of the first phase of the CBGI business plan, the Company will begin a strategic real estate acquisition, leasing, and management firm whose primary focus is on zoning issues. We acquire commercial property or land, and lease out the facilities for Agricultural, Industrial, Commercial and Retail, whether small or large scale clients.
CBGI plans to provide cutting edge facilities, solutions and services to the fast-growing cannabis industry in North America, with the goal of enhancing and improving current yields and quality. CBGI will not grow or dispense marijuana, pursuant to requirements under state and federal law. "The CannaBusiness Group, Inc plans to become a leader in what many believe will be a multi-billion dollar industry," stated The CannaBusiness Group, Inc CEO.
"As a public company, CBGI will have access to the capital markets necessary to fund the company's aggressive growth plans and we believe the opportunities are significant." Most industry experts believe the legal marijuana industry is poised to experience dynamic expansion. Twenty states plus the District of Columbia have now approved medical marijuana and eight others are expected to follow. Experts predict that the current growth trend will accelerate and that the regulated, domestic cannabis market could grow from $1.5 billion to $20 billion over the next five years.
Colorado voters first approved medical marijuana in 2000 and the state has been recognized as a national leader in the industry for over a decade. Under the provisions of recently passed Amendment 64, the Colorado market will be expanded in January 2014 to include adult, non-medical use. Marijuana revenues in Colorado are expected to triple in 2014, growing from $200 million to over $600 million, according to a study conducted by Colorado State University. The study did not include the potential sales from the expected 65 million tourists who will visit the state and may purchase marijuana. Many experts predict that other states will follow Colorado and Washington in enacting legislation or approving ballot measures that expand the permitted use of cannabis.
CBGI added that "We believe the state of Colorado will serve as a model in the regulated marijuana industry for other states going forward, and we plan to capitalize on this unique growth opportunity. Our goal is to build CBGI into a national industry leader."
About The CannaBusiness Group, Inc
The CannaBusiness Group Inc. ("CBGI") founded in 1985 and is headquartered in Mission Viejo, California we are a publicly held company vested as a strategic real estate acquisition, leasing, and management firm whose primary focus is on zoning issues. We acquire commercial property or land, and lease out the facilities for Agricultural, Industrial, Commercial and Retail, whether small or large scale clients.
The CannaBusiness Group, Inc. manages a portfolio of properties that it acquires and leases. We provide oversight on each and every property we manage. This can include complete architectural design and subsequent build-outs, general support, landscaping, general up-keep, and state of the art security systems.
CBGI developed an acquisition plan to acquire companies that sell products and services to include Security Services, E-Commerce Store Fronts for both Grow and Dispensary operations; Technology Solutions; Software Solutions; and miscellaneous solutions.
Any and all acquisitions will be spun off into their own publicly traded company in the future, or may be acquired or merged into another 3rd party company. Once, CBGI and subsidiary management agree that a company is ready to go public, merge or be acquired our group of professionals will start working on the best option for that company.
Stay up-to-date with current events by joining The CannaBusiness Group, Inc. E-Mail Alert List. Join by going to the following: firstname.lastname@example.org
FORWARD-LOOKING STATEMENT: This press release contains forward-looking statements, including expected industry patterns and other financial and business results that involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from results expressed or implied by this press release. Such risk factors include, among others: the sustainability of recent growth rates in the marijuana industry; the positioning of The CannaBusiness Group, Inc. in the market; ability to integrate acquired property, companies and technology; ability to retain key employees; ability to successfully combine product offerings and customer acceptance of combined products; general market conditions, fluctuations in currency exchange rates, changes to operating systems and product strategy by vendors; and whether The CannaBusiness Group, Inc. can successfully gain market acceptance. Actual results may differ materially from those contained in the forward-looking statements in this press release.
Investor Contact Information:
©2012 PR Newswire. All Rights Reserved.