According to an article in Business Insider, the size of the cannabis market in California could reach $4.27 billion in 2018, and could grow to $6.45 billion by 2020.
Bolstering this projected growth are two recent voter-approved initiatives: Proposition 64, the “Adult Use of Marijuana Act” legalized the purchase of cannabis for adults 21 and older in California; and Measure M, which was recently passed in Los Angeles and will allow the nation’s second largest city to repeal a current ban on medical marijuana dispensaries. The measure also allows the city council to create new rules in order to facilitate a safe and well-regulated legal cannabis industry.
“Kush Bottles thrives in regulated cannabis markets, where strict rules require the use of certified, child resistant packaging,” said Nick Kovacevich, CEO of Kush Bottles, Inc. “We are excited about the passage of Measure M, which will allow newly established and existing medical marijuana facilities to legally operate in Los Angeles under new rules to create a safe and well-regulated market.”
“Our client base is growing at a rapid pace and we are continuing to invest in our infrastructure to meet burgeoning demand,” said Ben Wu, President and COO of Kush Bottles, Inc. “Moving to a larger facility will enable us to further diversify our product and service offerings and to strengthen our position as the gold standard for the cannabis industry.”
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About Kush Bottles, Inc.
Kush Bottles, Inc. (OTCQB: KSHB) provides packaging products and solutions to producers, processors and retailers operating in the regulated medical and recreational cannabis industry.
Founded in 2010, Kush Bottles has sold more than 100 million bottles and regularly services more than 3,000 customers across the United States and Canada. The company primarily services the business-to-business market, which includes legally operated medical and adult-use dispensaries, growers and marijuana-infused product (MIP) manufacturers.
Kush Bottles aims to be the gold standard for responsible branding and packaging in the cannabis industry. Kush Bottles has no direct involvement with cannabis plants or extracts.
The company has been featured in media nationwide, including CNBC, Los Angeles Times, TheStreet.com, Entrepreneur, and Inc. Magazine.