Medical Marijuana Gaining Acceptance in U.S.
Medical Marijuana Gaining Acceptance in U.S.
Cannabis BioTech investigating alternate delivery options for growing patient base
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 industry.
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 smoking it."
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.
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," "anticipates," 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 only speaks as of the date of its distribution.
Puget Technologies
Ron Leyland, 954-332-2471
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