TAMPA, Fla.--(BUSINESS WIRE)--As Neutra Corp. (OTCQB:NTRR) works to deliver more and better products for cannabis patients and growers, the market for those products is projected to continue its historic rise well into the future. A new industry report forecasts that nationwide cannabis sales could reach $6.7 billion this year and grow to $21.8 billion by 2020.
The “State of Legal Marijuana Markets” report by research and investment firm the ArcView Group, states that 2016 could be a big year for cannabis in the U.S., with seven more states poised to potentially legalize it for adult use: Arizona, California, Massachusetts, Maine, Nevada, Rhode Island and Vermont. Florida, Ohio, Missouri and Pennsylvania will vote on passing medical marijuana laws.
As more cannabis markets open up, demand is expected to rise 25 percent, according to the report. Such rapid growth has led to significant challenges for the industry, including supplying a huge amount of cannabis crops without the use of potentially hazardous pesticides and making cannabis treatments safer, more discrete and more reliable for patients.
With help from joint venture partners Surface to Air Solutions, Inc. (S2O2) and Oceanview Health Services Ltd., NTRR is hard at work marketing and promoting antimicrobial alternatives to harsh chemicals used in cannabis farms as well as a new line of cannabis topical products. In 2016, NTRR plans to deliver many new offerings for cannabis producers and consumers alike as the regulated cannabis industry continues to swell in the United States, Canada and beyond. For more information on the company’s mission, please visit http://neutrainc.com/investors.
About Neutra Corp.
As the global cannabis market grows exponentially, it is constantly in need of better technologies and products to be more efficient in how they grow, what they grow, and how they consume cannabis and its related products. From lighting to dosage devices, from pesticide replacements to plant enhancers, NTRR is constantly combing the industry for the latest and greatest to test, prove and bring to market.
By providing a variety of new technologies designed to ensure safer, more reliable access to cannabis in approved markets, Neutra Corp. plans to compete alongside GW Pharmaceuticals (NASDAQ: GWPH), Cara Therapeutics Inc. (NASDAQ: CARA) and 22nd Century Group, Inc. (NYSE: XXII). For investing information and performance data, please visit www.neutracorp.com.
Notice Regarding Forward-Looking Statements
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words “believes,” “expects,” “anticipate” or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone’s past success, either financial or strategic, is no guarantee of success. This news release speaks as of the date first set forth above and the Company assumes no responsibility to update the information included herein for events occurring after the date hereof.
