NTRR: $1.7 Billion Medical Marijuana Market Set to Explode as 'Green Rush' Gathers Steam
TAMPA, Fla.--(BUSINESS WIRE)-- The incredible growth of the $142 billion global nutraceuticals industry has been driven by any number of medicinal herbs over the years, and that trend appears to be continuing in 2013. Neutra Corp. (OTCBB: NTRR) believes that the biggest story in nutraceuticals this year will stem from one of the world's most popular medicinal herbs: Cannabis.
Medical marijuana is already big business. Prescription cannabis is now available in 18 states and Washington, D.C., with 11 more states considering legislation to legalize the drug for medical use. Currently, the medical marijuana market in the U.S. is worth $1.7 billion, with that figure expected to rise as more and more markets open up across the country.
For NTRR and other nutraceutical companies, the changing laws represent a huge opportunity.
"New technologies capable of extracting medically useful Cannabidoil (CBD) from cannabis and hemp are the future of nutraceuticals," said NTRR CEO Cindy Morrissey. "CBD can be formulated into any number of existing, all-natural products and treatments, and there's no question that demand for such products is sky-high and still growing."
NTRR is seeking out new, emerging partners ready to develop and market innovations in the processing and use of cannabis-derived nutraceutical treatments for illnesses from cancer and arthritis to simple headaches and insomnia.
Neutra Corp. plans to follow in the footsteps of other successful public companies, including Cannabis Science, Inc. (NAS: CBIS) , Medical Marijuana Inc. (PINK: MJNA) and Terra Tech Corp. (NAS: TRTC) , enabling technological advancements in the cultivation and processing of cannabis in approved markets.
"This is a whole new industry, essentially, and the 'green rush' to capitalize is fully underway," Morrissey said.
The company is also pursuing innovations in anti-microbial coatings for surfaces in hospitals and other public spaces. Neutra Corp. is dedicated to commercializing innovative, all-natural products to compete in the fast-growing wellness sector alongside Herbalife Ltd. (NYS: HLF) and Nutraceutical International Corp. (NAS: NUTR) .
For more information on NTRR's nutraceuticals initiative, please visit www.neutracorp.com/investors.
Follow NTRR on Twitter at www.twitter.com/neutracorp.
About Neutra Corp.
Neutra Corp. (www.neutracorp.com) is a healthy lifestyle company that specializes in the development and marketing of natural wellness solutions. The company is currently working to produce a full range of non-toxic products to address every component of a healthy lifestyle. For investing information and performance data, please visit www.neutracorp.com/investors.
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 future 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.
Cindy Morrissey, 713-821-1486
President and CEO
KEYWORDS: United States North America Florida
The article NTRR: $1.7 Billion Medical Marijuana Market Set to Explode as 'Green Rush' Gathers Steam originally appeared on Fool.com.
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