PALATKA, FL, Nov. 15, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Majestic Holdings, Inc. (OTC: MJOG) (“Majestic" or the “Company"), based on the results of Tuesday’s election, it’s just a matter of time before marijuana will become legal in all 50 states. A recent poll shows 93% of Americans are now in favor of legalization. And this poll doesn’t even account for the popularity and growing demand for CBD infused products, which will be legal in all 50 upon the imminent passage of the 2018 Farm Bill.
According to a recent report issued by New Frontier Data, the U.S. CBD industry grew by nearly 40% in 2017, reaching $367 million in sales across hemp-derived (CBD) products. This marks the first year that sales of hemp-derived CBD products outpaced marijuana-derived CBD products.
Surging demand is expected to lift the industry higher; 2019 will be a break-out year for CBD, with the total market expanding to over $500 million in sales. The CBD industry will grow to $1.2 billion by 2020, and nearly $2 billion by 2022. The entire legal cannabis industry is expected to hit $57 billion by 2027.
With the legalization efforts in Michigan, Missouri, and Utah being successful from Tuesday’s election and yesterday’s announcement that Jeff Sessions has resigned from his post, the cannabis and CBD sector is poised to take off after a slight pullback after the Canadian legalization and run up to the midterm elections. With share prices down from earlier 52-week highs, there are many stocks that offer an attractive investment in the sector.
“We are positioning MJOG for these opportunities and the revenues streams future demand in the market is creating,” said Calvin Lewis, CEO of MJOG.
About Majestic Group Holdings, Inc.
Majestic Group Holdings, Inc., a diversified holding company that has several operating subsidiaries in various segments, inclusive of Healthcare, Cannabis, and Biotech. Companies acquired by Majestic are expanded significantly to better fulfill their maximum growth potential. Majestic has previously acquired multiple companies, creating tremendous synergy, and bringing additional revenue. With a strong structure, the company will deliver strong value for shareholders.
Safe Harbor Statement
This news release may contain "forward-looking" statements. These forward-looking statements are only predictions and are subject to certain risks, uncertainties, and assumptions that could cause actual results to differ from those in the forward-looking statements. Potential risks and uncertainties include such factors as uncertainty of consumer demand for the Company's products, as well as additional risks and uncertainties that are identified and described in the Company's SEC reports. Actual results may differ materially from the forward-looking statements in this press release. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company does not undertake, and it specifically disclaims, any obligation to update any forward-looking statements to reflect occurrences, developments, events or circumstances after the date of such statement.
Majestic Group Holdings, Inc.
info@majesticgroupholdings.com
Phone: 844-544-4014
Twitter:@majesticMJOG
Source: http://www.cannagreed.com/2018/11/08/president-trump-firing-jeff-sessions-could-mean-more-green-for-these-cannabis-and-cbd-stocks/