Oregon and Alaska Legalize Marijuana
AVT is a manufacturing and development partner in the growing cannabis market
CORONA, Calif., Nov. 5, 2014 /PRNewswire/ — AVT, Inc. (OTC Markets: AVTC) (www.autoretail.com), a leader in automated retailing systems, storage and dispensing systems for legal cannabis, and custom vending machines, commented today on the voter approval of several cannabis legalization measures.
“Automated retailing is going to big a big part of the future of the American cannabis industry,” Shannon Illingworth, Founder and Chairman of AVT stated.
Tuesday’s vote to legalize cannabis in Oregon and Alaska will provide additional opportunities for sales and placements of systems.
The Oregon and Alaska measures would legalize recreational cannabis use and usher in a network of retail shops similar to those operating in Washington state and Colorado. According to CNN, the Oregon law will also create a commercial regulatory system for the production, distribution and sale of marijuana.
According to a recent article in the Washington Post, the legal cannabis industry could reach revenues of $35 billion by 2020.
“AVT has been in the controlled delivery business from the start of the legal cannabis industry,” Illingworth stated. “Our systems provide the technology that assures compliance with all regulations, so that the dispensing process is controlled, taxed, and accurate.”
“Wins in Alaska and Oregon will provide a boost to efforts in other states because they will demonstrate the benefits of regulating and taxing marijuana,” said Mason Tvert, a spokesman for the Marijuana Policy Project. “Some states will end marijuana prohibition more quickly than others, just as some states ended alcohol prohibition more quickly than others. But they all did in the end, and now just about everybody recognizes that it was a good idea,” he added.
For more information on custom vending, or to discuss an automated retailing idea or solution, call AVT at (877) 424-3663, or visit:www.autoretail.com.
The statements in this press release constitute forward-looking statements within the meaning of federal securities laws. Such statements are based on our current beliefs and expectations and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond our control. In addition, such forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Potential risks and uncertainties include, but are not limited to, technical advances in the industry as well as political and economic conditions present within the industry. We do not take any obligation to update any forward-looking statement to reflect events or developments after a forward looking statement was made.
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