Company’s robust product line meets the needs of these rapidly growing industries, and is not dependent on federal legalization
CORONA, Calif., July 21, 2021 (GLOBE NEWSWIRE) -- Advanced Container Technologies, Inc (OTC: ACTX), announced its growth plan does not rely on federal legalization of cannabis. Last week, for the first time in history, Senate Democrats moved to decriminalize cannabis at the federal level, proposing to remove it from the federal list of controlled substances.
Senator Chuck Schumer shared in draft form the Cannabis Administration and Opportunity Act (CAOA). Senators Schumer, Booker and Wyden have invited stakeholders to make comments through September 1, and then they intend to introduce a final legislative draft.
While some people do not believe that legislation will be approved by the full senate, it is important to note that the cannabis industry is robust and continues to grow rapidly, with or without federal legalization.
According to an article in Forbes, cannabis sales in the U.S. hit a record of $17.5 billion, a whopping 46% increase from 2019. Using research from BDSA, a cannabis sales data platform, the revenue increases came from both existing legalized states and new states entering the market.
“The industry has proven to be resilient,” said Kelly Nielsen, who runs BDSA’s insights and analytics department. “It’s potentially recession-proof.”
Already in 2021, the legislatures in Connecticut, New Mexico, New York and Virginia approved legalization, and Ohio is about to join Maryland and Rhode Island where legislators are pursuing similar actions. Expansions in existing states and the addition of these new states will likely fuel strong growth for many years to come.
Investopedia says the percentage of adults aged 50 to 64 reporting cannabis use has doubled in the past decade, and use among adults 65 and older has increased seven times.
Moreover, the industry is forecast to generate $85 billion in sales in 2030, according to Cowen analyst Vivien Azer.
Accordingly, for many cannabis companies, growth does not depend upon near-term legalization, and sectors that supply ancillary services are well-positioned to capture opportunities in every legal state in the nation.
Doug Heldoorn, CEO of Advanced Container Technologies, said the company has aligned its offerings to provide a wide range of products and services to the cannabis and hemp industries.
“First and foremost, every cannabis or CBD product needs to come in a package of some sort,” Heldoorn commented. “We have a wide variety of customizable packaging solutions for virtually every cannabis and hemp product, including our patented Medtainer system. This allows us to provide repeat purchase items to companies ranging from a single grower or dispensary to large multi-state operators.”
In addition to packaging solutions, ACTX also is the exclusive provider of the GrowPod – the fast and portable indoor automated micro-farm. The GrowPod offers what may be the fastest and most convenient method for growers to rapidly enter the business or expand with a low capital outlay and fast ROI.
“From cultivation to consumption, we’ve got the industry covered,” Heldoorn added.
For more information on how to grow a cannabis or CBD business with quality customized packaging or turnkey automated GrowPods, contact Advanced Container Technologies, at: (951) 381-2555 or visit: www.advancedcontainertechnologies.com.
About Advanced Container Technologies, Inc.
Advanced Container Technologies, Inc. is in the businesses of selling and distributing hydroponic containers called GrowPods; and designing, branding and selling medical grade containers and packaging systems; as well as other products and accessories, such as humidity control inserts, odor-proof bags and lighters; plus private labeling and branding services. For more information visit: www.advancedcontainertechnologies.com.
Forward-Looking Statements
This release includes predictions or information considered "forward-looking" within securities laws. These statements represent Company's current judgments but are subject to uncertainties that could cause results to differ. Readers are cautioned to not place undue reliance on these statements, which reflect management's opinions only as of the date of this release. The Company is not obligated to revise any statements in light of new information or events.
Company Contact:
(951) 381-2555
info@advancedcontainertechnologies.com
Investor Relations:
Stuart Smith
SmallCapVoice.Com, Inc.
512-267-2430
ssmith@smallcapvoice.com