These states represent a USD $2.5 Billion Market by 2024
/EIN News/ — VANCOUVER, British Columbia, Nov. 09, 2020 (GLOBE NEWSWIRE) — Icanic Brands Company, Inc. (CSE: ICAN, OTCQB: ICNAF) (“Icanic Brands” or the “Company”), a multi-state brand operator in California and Nevada, is pleased to join cannabis advocates in congratulating voters in Arizona, Montana, New Jersey and South Dakota, which in last week’s elections passed measures to legalize cannabis for adult use and/or medical use.
The newly legalized states represent a more than USD $2.5 billion market by 2024 in both recreational (adult) and medical sales according to industry reports. The Company thinks that with a variety of different structures including corporate expansion, partnerships and licensing opportunities, Icanic Brands will be well positioned to leverage its positioning in the market to create value for our shareholders. The Company believes that California will always hold a significant influence over the cannabis industry and be looked upon as a leader in the space. By continuing to be a leader in the most competitive space with the most discerning consumer, it positions Icanic Brands well to take that brand IP and expertise to other states when legal and opportunities present themselves.
“We could not be more excited at the opening of this new, legal regulated market for cannabis in Arizona, Montana, New Jersey and South Dakota. We look forward to the opportunity to provide the residents of these states with the best pre-roll experience of their lives. We are continually exploring growth opportunities and welcome the ability to add these markets to our growth plans,” said Mr. Brandon Kou, CEO and Director of Icanic Brands.
About Icanic Brands Company, Inc.
Icanic Brands Company, Inc. is a leading cannabis branded products manufacturer based in California & Nevada, the largest and most competitive cannabis markets