By Business Wire, October 15, 2013, 08:30:00 AM EDT
Cannabis BioTech investigating alternate delivery options for growing
FT. LAUDERDALE, Fla.--(BUSINESS WIRE)--
Puget Technologies (OTCBB:PUGE) is poised to enter the fast-growing
medical marijuana market through its new subsidiary, Cannabis Biotech.
How many people in the United States currently use medical marijuana?
ProCon.org, an online resource for research on polemic issues, estimates
there are more than 2,400,000 registered medical marijuana patients in
the U.S. They qualify that figure, stating a statistically sound
estimate is difficult to gauge.
What is evident, however, is that the market is quickly becoming a big
According to Forbes, "The U.S. medical marijuana market, worth some $1.7
billion in 2011, is expected to blossom into a $9 billion industry by
2016." See Change Strategy, LLC, in their extensive report, The State of
the Medical Marijuana Markets 2011, informed there were 24.8 million
potential patients eligible for medical marijuana under existing state
laws. Currently 20 states and the District of Columbia have enacted laws
to legalize the use of medical marijuana.
President and CEO of Puget Technologies Ron Leyland said, "A majority of
Americans now favor the use of marijuana. Along with this shift in
thinking is a rising market in medical marijuana as an alternative to
toxic, synthetic drugs." He added, "Cannabis BioTech has established a
research and development division to investigate alternative delivery
methods to meet the growing needs of patients who desire the benefits of
medical marijuana but do not want the harmful effects or stigma of
Amid changing attitudes about marijuana, Cannabis Biotech is dedicated
to developing medicinal cannabinoid delivery options using scientific
research and methodologies. The investigations conducted at Cannabis
BioTech are expected to add to the growing body of data demonstrating
marijuana's medicinal benefits.
As previously announced, Cannabis BioTech has recently brought prominent
authority Kenneth Morrow onboard. Morrow is a globally recognized expert
on cannabis production and delivery techniques and practices.
More information about Cannabis BioTech can be found at http://www.cannabisbiotech.com.
About Puget Technologies ( PUGE )
Puget Technologies is a publicly traded company on the OTCBB Market
stock exchange under the ticker symbol PUGE. Headquartered in Ft.
Lauderdale, Florida, Puget Technologies acquires, develops and sells
leading edge consumer oriented products ready for rapid
commercialization. Puget plans to become a recognized market leader in
its product categories. Much of its resources are dedicated to research
and development in order to provide consumers with quality options while
meeting the expectations of its investors.
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Source: Puget Technologies