The demand for recreational and medicinal marijuana in Washington State and other Western States is growing year-over-year and in the short-term, and does not show any signs of slowing down. In Washington there are currently up to 650,000 recreational marijuana users in Washington State, generating approximately US$1.25 – US$1.5 Billion in annual sales. Beyond the traditional uses for cannabis, the industry has benefited greatly from innovative product development and a variety of consumables and CBD products for medical use. The continued upward trajectory of growth in the U.S. market is positively forecasted for years to come for all U.S. States and many countries.
In 2016 Frank Giese, an expert cannabis cultivator and breeder, Medical Marijuana (MMJ) contractor, and MMJ systems analyst joined the Company’s Advisory Board to assist Management in the development of genetics and cannabis related project opportunities in Washington and Oregon states.
Mr. Giese’s current cannabis breeding efforts are focused on commercially viable, rapidly maturing varieties and his continued efforts in the development of new industrial hemp cultivars. His vision for the future is to introduce modern growing techniques to industrial hemp, as has been done with cannabis.
Management continues to evaluate cannabis related project opportunities in all legal recreational and MMJ States.