The cannabis market has remained notoriously successful for some time now as new innovation and the changing public perception of the substance all contribute to the growing market. It seems as though we are in the midst of a cannabis gold rush of sorts in recent times which means that now is a better time than ever to take a look at the industry. Legal cannabis sales last year alone reached over $10 billion in North America alone. That number shows an almost 150% increase that is expected to occur by 2021. With many pieces of news on the way, cannabis looks as though it is here to stay.
One of the companies that many have been watching as a play for the ancillary cannabis space has been Easton Pharmaceuticals (OTCMKTS:EAPH). The company has been working in the pharmaceutical side of the cannabis market which has also been growing with a massive amount of propensity toward the future. The company is based out of Toronto which also means that they have a large amount of exposure to the cannabis space that is set to be recreationally legal at the end of this month.
One of the main products that they have been working on is a gel known as Nauseasol which has its main goal set in treating motion sickness. In addition, the company makes a series of other gels to deal with various health issues such as arthritis and aging. In recent news, the company has stated that they are working on a $1.3 million deal with the Alliance Group to get into the medical marijuana space. The hopes are high that the company can continue its reign toward the future.
The next company on the list is MCig Inc. (OTCMKTS:MCIG). The company has been working out of Las Vegas which has a very large and growing cannabis market given the legal standing of the industry their. In addition, MCig has a very diverse business model which means that they may be a good place to start for anyone looking to invest in the cannabis space. MCig has been working on the production of CBD, vaporizers as well as the consulting and media industry associated with cannabis.
The company last year announced the creation of eHESIVE, which is an online marijuana advertising network that allows companies to accurately pick the target audience based on a series of variables. This is a large step forward because even companies that operate legally in the cannabis space have not been able to advertise on the major sites such as Facebook and others. This is due to the federal standing of cannabis within the U.S. which still states that it is a federally restricted substance. The hopes are that this can change in the coming future to allow more growth in such a promising market.
The cannabis industry as a whole has remained highly lucrative for some time now and has helped to bring in a whole new slew of investors into space. The hopes are high that the market can continue on its way to the future as more companies continue to produce new products and innovative ways to deal with the industry.