SAN JOSE, Calif.--(BUSINESS WIRE)--As Green Technology Solutions, Inc. (OTCBB:GTSO) investigates opportunities in the fast-growing U.S. medical cannabis industry, a recent report indicates legislation in the nation’s preeminent state for medical cannabis could produce even more gains in an already booming multi-billion dollar market.
California, which in 1996 was the first U.S. state to legalize cannabis for medicinal reasons, has the largest medicinal cannabis market at $980 million. If backers are successful in getting a legalization measure on the 2016 ballot in California, a cannabis gold rush could be in store. SF Weekly reports the demand for recreational cannabis in California alone could exceed $2.1 billion.
“The medical cannabis industry continues to experience substantial growth, and when legislation passes to legalize recreational use of cannabis in California, the market will increase dramatically,” GTSO CEO Wallace W. Browne said. “This is a growth industry with enormous opportunities to capitalize whether it be through ancillary businesses and/or services.”
With medical and recreational cannabis currently available in 23 states, ArcView Group, a San Francisco-based cannabis research and investment firm, projects the U.S. cannabis market could exceed $10 billion within the next five years.
Green Technology Solutions, Inc., plans to introduce new products and services that will enable it to compete in a booming marketplace alongside Cannabis Sativa, Inc. (OTCBB:CBDS), Terra Tech Corp. (OTCBB:TRTC), Agritek Holdings Inc. (OTCBB:AGTK), Medbox, Inc. (OTCBB:MDBX) and more.
About Green Technology Solutions, Inc.
Green Technology Solutions, Inc. is a growth-oriented company exploring the growing market for resources, including but not limited to rare earth elements, precious metals and herbal supplements. For more information, please visit http://www.gtsoresources.com/investors.html.
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