Marapharm’s subsidiary develops product line for oils and edibles in Nevada
Marapharm Ventures is the owner of Econevada, which is the holder of a provisional production license for lab tested oils and edible cannabis infused products that will be produced in firm’s facility.
The facility is presently under construction in Apex Industrial Park, Las Vegas, Nevada. Proven and successful recipes for a variety of products have been obtained and include cookies, chocolates, brownies, candies, hot chocolate packets, topicals and oils.
Child proof and secure containers are being designed for the marketing and branding of products. Online brochures for preview and pre orders from marijuana dispensaries in Nevada will be distributed within several weeks.
The potential for sales revenue and profit for edibles in Nevada is huge; it's exciting to be in this industry!" Linda Sampson, Marapharm CEO.
The Marijuana Business Magazine, January, 2015, wrote that the estimated market for general marijuana infused products in was between $650 to $850 million.
That was based on 2014 sales, and, prior to many States legalizing the use of medical and or recreational marijuana.
In Colorado some retailers reported that 60% of their revenue came from cannabis infused products compared to 30% in 2014. At that time, Colorado ranked as the biggest edibles market in the country.
"Nevada's going to blow it up" said Chad Tribble, CEO of Mountain High Suckers in Colorado, making reference to, if and when Nevada legalized marijuana for recreational use.
"Since the story in the Marijuana Business Magazine was written, Nevada has legalized marijuana for recreational use. In addition to the Nevada market, there are close to 50 million adults who travel to Nevada annually.
“Tourists might be more inclined to purchase edibles over raw cannabis because they are less conspicuous and easier to consume. Marapharm is preparing to meet the projected needs of the market place." Linda Sampson, Marapharm CEO.
Source: Company Press Release