DENVER, Nov. 14, 2016 (GLOBE NEWSWIRE) -- Bang Holdings Corp. (OTCQB:BXNG), through its wholly owned subsidiary, Bang Digital Media - a brand manager, digital content provider, and influencer-based marketer to the cannabis industry, today announced it believes that laws legalizing recreational cannabis use in California, Massachusetts, Maine and Nevada, along with medical marijuana initiatives passed in Montana, Florida, Arkansas, and North Dakota are game changers for their business, and that of their clients.
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A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/7bf08d80-06f6-4955-a4b1-f645d149760a. "The legalization of recreational and medical cannabis in already tourist-friendly states like California and Nevada unlocks massive potential for industry growth," said Bang Holdings CEO, Steve Berke. "California alone represents the sixth biggest economy — not just in the United States — but in the world. We believe that the business opportunities are vast." Arcview Market Research estimates California could be a $6.5 billion marijuana market by 2020. Nationwide, legal cannabis sales overall jumped 17 percent, to $5.4 billion, in 2015 and are expected to grow by 25 percent this year, to $6.7 billion, according to Arcview Market Research, and by 2020 legal cannabis sales in the United States are projected to hit $21.8 billion. Once the legal weed industry 'grows' in these newly legalized states; and dispensaries, security firms, growers, banking outlets, and ancillary retail operations spring up, there will be a void of experienced cannabis marketing and advertising professionalism.