California was the first U.S state to legalize medical marijuana back in 1996, and has been recognized since even before that for the prime cannabis growing region in the northern part of the state known as the "Emerald Triangle".
The passing of Proposition 64 in November provides additional opportunities both for companies currently invested in CA and for those seeking exposure to a increasingly lucrative market. On January 1st, 2018 licenses for retail sale of adult-use marijuana go into effect and although details regarding the specifics of obtaining a license are to be released, companies that are already active in the state may have a leg up in regards to obtaining one.
Below are a few companies from our marijuana stocks database that are either based in California, have current or potential operations there or own property used for cannabis related projects in the state.
Although Cannabix Technologies is based in Canada and is still in beta stages of development with their cannabis breathalyzer, there is significant potential in the future for them to work with the California Highway Patrol (CHP) and other law enforcement agencies. A component of Proposition 64 grants $3 million per year to CHP for the next five years to research and develop protocols for determine if a driver is under the influence of marijuana.
In December, CBDS announced that they acquired a stake in a organic hemp farmwithin Los Angeles County, allowing them to benefit from a lesser known side of Prop. 64 that provides for the cultivation of industrial hemp.
Cannabis Science, Inc based out of Irvine, CA sells its medical cannabinoid products in medical dispensaries within the state. Additionally, they are in the process of acquiring up to 1,000 acres between CA and NV to expand their growing and manufacturing capabilities.
Based in Newport Beach, CA Terra Tech is a developer and distributor of hydroponic equipment for indoor agriculture that is used through the state and the country for growing cannabis and more. Terra Tech also distributes its IVXX brand of flowers and concentrates in select CA medical marijuana dispensaries, and operates one of its Blum locations in Oakland.
In addition to their Canadian operations, Maple Leaf Green World has entered into a joint venture with a non-profit collective (currently required by CA law) to supply medical marijuana to its membership. Additionally, as a part of the joint venture Maple Leaf has acquired a 20-acre property in Southern California and is applying for the required license to cultivate.
These are just a few of the marijuana companies that stand to benefit from continued growth in the cannabis sector in California.
Stay tuned for further updates regarding developments in the state, these companies and the rest of the companies in our marijuana stock database. If you haven't already be sure to follow us on social media using the links to the right and subscribe to our completely free email newsletter below!
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