TAMPA, Fla.--(BUSINESS WIRE)--As Neutra Corp. (OTCBB: NTRR) prepares for the release of its cutting-edge Diamond Anvil vaporizer pen next month, New York has become the 23rd state to legalize medical marijuana.
The state senate passed a bill Friday that will authorize cannabis for therapeutic purposes for patients with serious illnesses such as cancer, AIDS and epilepsy. New York adds yet another major marketplace for ancillary businesses such as NTRR to shop their products.
Unlike most other medical marijuana states, New York passed a bill that does not allow patients to smoke the drug, making advanced tools such as NTRR’s Diamond Anvil vapor pen necessities. Through its wholly owned subsidiary, Diamond Anvil Designs, the company plans to deliver a lightweight, portable, smoke-free delivery system that will stand out from competing products in the marketplace thanks to its customizable power levels, multi-substance vaporization capacity and best-in-class durability.
NTRR is planning the device’s product launch for mid-July. 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 year that these ancillary business’ “annual revenue is easily in the hundreds of millions, and likely much more.”
By providing a new technology that can be adapted to deliver a variety of nutraceutical substances, including dry herbs, oils and waxes, Neutra Corp. plans to enjoy unprecedented growth in 2014 alongside Cannabis Science, Inc. (OTCBB: CBIS), GW Pharmaceuticals, plc (NASDAQ: GWPH), INSYS Therapeutics, Inc. (NASDAQ: INSY) and CannaBusiness Group, Inc. (OTCBB: CBGI), 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.
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