SAN JOSE, Calif.--(BUSINESS WIRE)--As Green Technology Solutions, Inc. (OTCBB:GTSO) readies new products and services for entry into Oregon’s adult-use cannabis market, experts now say that the state’s cannabis industry could be worth nearly $500 million by 2020.
Inc. reported last week that New Frontier, a big-data provider for the cannabis industry, predicted that Oregon will have generated $257 million in cannabis sales by the end of the year. The company forecasts that figure to rise to $464 million by 2020—a number rivaling the $700 million brought in last year by Colorado, the top cannabis market in the U.S.
“Low barriers to entry into this marketplace are what we believe will drive Oregon’s rapid rise,” said GTSO CEO Wallace W. Browne. “Low fees and taxes are going to make this state a very friendly environment for cannabusinesses.”
GTSO has big plans for Oregon and other top cannabis markets across the U.S. The company signed a letter of intent last month to acquire innovative cannabis edibles developer Elevated Industries in order to deliver new edible products tailored to increasingly sophisticated cannabis businesses and consumers in Colorado. GTSO is also catering to the rapidly growing business-to-business sector of the state’s cannabis economy by working to establish a trusted and reliable cannabis testing lab to help ensure that retailers and their patients can be sure of exactly what they are purchasing.
As the nationwide 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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