SAN JOSE, Calif.--(BUSINESS WIRE)--Across the country, the market for cannabis edibles is booming—but some consumers and regulators still have concerns about the THC-infused foods. Green Technology Solutions, Inc. (OTCBB: GTSO) is working to deliver superior new edibles products that are more reliable and delicious than ever before.
The market for edibles has exploded as medical cannabis legalization has spread across the U.S. in 23 in states, from Hawaii to Maine. In four states, cannabis is permissible for all adults over 21. The leading marketplace for edibles is in Colorado, which legalized recreational cannabis in 2012 and has had medical marijuana since 2000. Last year, consumers there bought 5.8 million infused edibles and concentrate products, according to the Colorado Department of Revenue Annual Update.
Many edible products, however, may be mislabeled regarding their actual potency, recent studies have shown. In some states, regulators want to ban edibles that too closely resemble non-medicated foods. GTSO is working to solve these issues as it works to help develop a new line of edible products.
GTSO formed a joint venture with innovative cannabis edibles developer Elevated Industries last year in order to deliver new products tailored to increasingly sophisticated cannabis businesses and consumers in Colorado and beyond. Now, the debut suite of products to be developed and marketed by the JV is approaching its launch date. The company has plans to roll out these products in Colorado, Oregon and other U.S. markets before launching in Canada, as well.
“Edibles are such a new industry that a great deal of innovation is yet to come,” said GTSO CEO Wallace W. Browne. “We want to be on the cutting edge of this fast-growing new market.”
As the market for cannabis continues to grow, GTSO plans to keep building new tools to help wholesalers and retailers guarantee their edible products’ potency, consistency and safety to their customers.
About Green Technology Solutions, Inc.
Green Technology Solutions, Inc., which provides business support, delivery system products and horticultural technology support, continually introduces new products and services, enabling it to compete alongside GW Pharmaceuticals (OTCBB: GWPRF), INSYS Therapeutics, Inc. (NASDAQ: INSY) and ENDEXX Corp. (OTCBB: EDXC) and others in a booming industry expected to be $10 billion by 2018. A growth-oriented company, Green Technology Solutions Inc. (GTSO) explores the fast-growing cannabis market for resources, including but not limited to rare earth elements, precious metals and herbal supplements. For more information, visit www.gtsoresources.com/investors.
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