TAMPA, Fla.--(BUSINESS WIRE)--As Neutra Corp. (OTCBB: NTRR) prepares to release its new Diamond Anvil vapor pen this summer, a massive ancillary market for cannabis-related products and services continues to grow rapidly as more states loosen and reconsider marijuana laws.
While no official estimate is available on the potential market for ancillary products such as vaporizers, horticultural equipment and more, legal cannabis sales are expected to reach $2.57 billion this year, up from $1.53 billion a year ago. Chris Walsh, editor of Marijuana Business Daily, told the LA Times earlier this month that these ancillary business’ “annual revenue is easily in the hundreds of millions, and likely much more.”
As more states approve cannabis sales in some form or fashion, those revenues are likely to keep growing, and NTRR is committed to capturing a substantial share of that growth. Earlier this week, the company announced that it plans to release its latest product—a new Diamond Anvil vapor pen that features a revised atomizer that can be adapted to deliver a variety of nutraceutical substances, including dry herbs, oils and waxes—this summer. Alongside its partners, NTRR is also working to deliver cutting-edge horticultural equipment and all-natural antimicrobial solutions to cannabis’ booming ancillary marketplace.
“The growth of the U.S. cannabis industry has created a new gold rush, and we plan to sell the best shovels,” said NTRR CEO Sydney Jim.
By providing a variety of new technologies designed to ensure safer, more reliable access to cannabis in approved markets, Neutra Corp. plans to enjoy unprecedented growth in 2014 alongside Cannabis Science, Inc. (OTCBB: CBIS), Medical Marijuana Inc. (OTCBB: MJNA) and Vape Holdings Inc. (OTCBB: VAPE), delivering technological advancements in the cultivation and processing of cannabis in approved markets.
About Neutra Corp.
Neutra Corp. is a healthy lifestyle company that specializes in the development and marketing of natural wellness solutions, including cannabis-related products. 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.