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VANCOUVER, British Columbia, March 3, 2014 (GLOBE NEWSWIRE) -- Recent analysis on the American marijuana marketplace by ArcView Angel Investors forecast a 64% surge in the legal U.S. cannabis market to $2.34 billion in 2014. It also estimates that the five-year national market could grow to $10.2 billion amid rising demand and potentially new state markets.
Needless to say, this burgeoning market requires the expertise of seasoned business people to provide venture capital, management expertise, education and to act as facilitator for this explosive new industry.
Who better to build the infrastructure of this new industry than a group of savvy mining execs? That's right, mining execs.
A hundred and fifty years ago, Harry Barr's (President and CEO of Next Gen Metals (CSE:N) ancestors began farming in the Ottawa Valley. As far back as pre WWII, the family farm was producing hemp, which in those days was used primarily for rope.
At 23, a young Harry Barr graduated from the University of Guelph in Agribusiness and began a career that forged him into a global mining executive and financier. Barr rightly notes that since 1985, every exploration company he has started is still in business today.
Barr's company has seized the opportunity to incubate and mentor those legal marijuana and hemp companies that have the technical savvy, but require the business acumen that any new or expanding industry needs; be it fundraising, complex negotiation skills, capital markets expertise, public company administration or IPO's.
"Recent legal changes have convinced us that this emerging, multi-billion dollar market would benefit from our expertise," states Barr. "We are looking at several proposals and intend to raise capital for the best of them in exchange for an equity interest, a sales royalty or both. I am confident we will be able to provide compelling returns for all parties, but in particular our Next Gen shareholders."