SEATTLE, WA--(Marketwired - Oct 4, 2016) - CFN Media Group ("CannabisFN"), the leading creative agency and media network dedicated to legal cannabis, today published an article and exclusive executive interview focused on the developments of Medicine Man Technologies (OTCQB: MDCL).
The cannabis industry in the United States is expected to reach $50 billion by 2020, according to a new report from Cowen & Co., which represents more than eight times its current size. Given the high level of legal uncertainty and relative newness, the industry remains highly fragmented with a large number of small companies and few large companies. These dynamics have left the door open for innovators to build future billion dollar companies.
CFN Media takes a look at Medicine Man Technologies, a company that has already built a name for itself in cannabis consulting and plans to become the leading brand warehouse.
Andy Williams and his brother Pete Williams started Medicine Man in December of 2009 to become the Costco Wholesale Corp. of marijuana. Six years later, the iconic Colorado dispensary became a $17 million per year juggernaut and the founders decided to branch out by partnering with Brett Roper (co-founder and COO of MDCL) to provide cannabis consulting and branding services to cultivators, dispensaries, and other cannabis companies throughout the U.S.
Medicine Man Technologies Inc. began in April 2014 as a consulting practice designed to help aspiring cannabis companies build their businesses. By leveraging their experience running a Tier III cultivator and dispensary in Colorado, the company has already helped clients across many states (Medicine Man Technologies currently has 19 active clients in 11 states including Puerto Rico) develop similar operations, as well as other companies obtain licenses in states where the drug has been legalized.
These consulting agreements not only provided the company with early revenue, but also positioned them as a market leader and created a valuable database of contacts for the next phase of its business -- to become a 'brand warehouse' for the cannabis industry. With all of the pieces in place, the company is now looking to expand into this new vertical and diversify away from purely consulting to deliver significant value to shareholders.
Click here to read the full article and watch the interview with co-founder Brett Roper: http://www.cannabisfn.com/medicine-man-mdcl-building-a-leading-cannabis-brand-warehouse/
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About CFN Media
CFN Media (CannabisFN), the leading creative agency and media network dedicated to legal cannabis, helps marijuana businesses attract investors, customers (B2B, B2C), capital, and media visibility. Private and public marijuana companies and brands in the US and Canada rely on CFN Media to grow and succeed.
CFN launched in June of 2013 to initially serve the growing universe of publicly traded marijuana companies across North America. Today, CFN Media is also the digital media choice for the emerging brands in the space.
About Medicine Man Technologies Inc.
Medicine Man Technologies is an innovative provider of consulting services related to cultivation, production, and dispensary operations nationally. Currently serving 19 clients in 11 states, including Puerto Rico, as well as having successfully supported license applications (cultivation and dispensary) in Illinois, Colorado, and Nevada, we are now working with clients in California, Oregon, and Pennsylvania to support applications in their respective states. Further information about MMT can be found in our S1 and 10Q/K filings.
For more information, visit the company's website at www.medicinemantechnologies.com