DEL MAR, CA, Nov. 30, 2017 (GLOBE NEWSWIRE) -- American Diversified Holdings Corporation California medicinal and recreational industry is projected to reach $6.5 billion in revenue
DEL MAR, CA- November 30, 2017 American Diversified Holdings Corporation (OTC PINK: ADHC) Approximately 24 states have legalized Medical Cannabis use and 8 states have legalized recreational use. California's legal marijuana sales likely will climb to $ 1.6 billion within the first year, according to an Arcview report.
California medicinal and recreational industry is projected to reach $6.5 billion in revenue by 2020, up from $2.8 billion in 2015, according to the report. The nation's legal cannabis industry is expected to climb to $23 billion in 2020, up from $5.7 billion in 2015. The state of Colorado recently reported 2016 revenues of $1.3 billion and tax revenues of $200 million. Recently, 27 US congressmen, both Republican and Democrat, have introduced a new law known as, "Respect the State Marijuana Laws Act," prohibiting federal prosecution for business in compliance with state law. This bill will formally legislate the current US policy.
American Diversified Holdings Corporation two new recreational cannabis vaping tools.
The "CANNAVAPE "TM focused on versatility, portability and functionality.
The "CONTINUUM"TM offers a very sleek design with a single active button for utilization with HEMP PLUS and THC Oils.
Information about our new vaporizer products can be found at http://investadhc.com/canna-code-products-2/ available now for wholesale purchase.
This press release contains forward-looking statements pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements include risks and uncertainties that may cause the Company's plans to change and are in no way intended to guarantee that the Company will be successful in executing its plans. American Diversified Holdings common stock currently trades on the over-the-counter "Pink Sheets" under the symbol ADHC. This press release in no way constitutes any recommendation regarding the securities of ADHC or its affiliates. Any person reading this press release is advised that this release should be considered in the light of all facts and circumstances regarding the business and financial condition and prospects of ADHC, and no reference has been made that this release contains all such information.