SEATTLE, WA–(Marketwired – Mar 16, 2017) – CFN Media Group, the leading creative agency and digital media network dedicated to legal cannabis, announces the publication of an article discussing SinglePoint’s (OTC PINK: SING) strategy to build a portfolio of cannabis-focused businesses by acquiring and incubating accretive small- to mid-sized companies that are involved in ancillary (e.g. non-drug-touching) areas of the market.
SinglePoint announced its first major investment in Jacksam Corp. dba Convectium — the profitable creator of the 710Shark and 710Seal system for filling and packaging vape cartridges or disposable vape pens. The 710Shark is the only machine on the market which fills cartridges or disposables en masse (more than 100 in 30 seconds) for wholesale distribution. This one-of-a-kind cartridge/vaporizer filling machine can fill both disposables and/or reusable cartridges made of plastic, glass, ceramic, or stainless steel with no exchange of parts or equipment necessary. The complementary 710Seal machine completes the pioneering end-to-end system by sealing the products in childproof blister packs.
The U.S. cannabis industry is expected to be worth $50 billion by 2026, according to Cowen & Co., driven by ongoing legalization across the country. The analysts see the tobacco industry grabbing a fifth of the market by 2036, adding more than 20% to their revenue and nearly doubling their underlying growth, thanks to their well-honed ability to navigate regulatory issues and significant existing resources to enter the market and scale up.
Cannabis investors may want to focus their efforts on ancillary products and services that are well-positioned to grow without competition from Big Tobacco. In addition, these companies benefit from reduced regulatory risks in the current market — especially following negative comments from White House Press Secretary Sean Spicer and Attorney General Jeff Sessions suggesting that recreational marijuana could see a federal crackdown.
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