Singlepoint, Inc. (SING) Leveraging Its Existing Foothold to Be a First Mover in California’s Cannabis Industry
With voters in California having passed the Election Day ballot initiative to legalize marijuana for recreational purposes, estimates released in The Marijuana Business Daily (http://dtn.fm/Q7J7o) reported that California’s recreational marijuana industry could eventually generate anywhere between $4.5 and $5 billion in annual retail sales. The article states that, in addition to enabling California to reclaim its mantle as the capital of the cannabis trade, it would also position the state as the most attractive market for business opportunities. Proposition 64 now enables adults aged 21 and over to use and possess an ounce or less of marijuana for nonmedical purposes.…