As Green Technology Solutions, Inc. GTSO, -18.79% preps new product offerings to service the rising cannabis industry in the United States, ancillary business is now exploding in Uruguay, the South American nation that legalized cannabis in 2013. Some experts are calling Uruguay’s reforms the dawn of a new, international cannabis industry.
Uruguay’s Boom Highlights the Dawn of International Cannabis Industry
Though pharmacies in Uruguay have yet to begin selling cannabis, new ancillary businesses are cropping up constantly. There are currently 20,000 home growers in the country, as well as 15 cannabis clubs authorized by the government to grow up to 99 plants each, according to info released by the local Cannabis Studies Association (AECU). Thousands growing and consuming the plant in Uruguay now need supplies, equipment and education.
“It’s a wide-open market, and I believe it’s the first of many to come,” said GTSO CEO Wallace W. Browne. “We are witnessing the first steps toward a global cannabis market, and we are fully invested in making sure GTSO is among the leaders in this blossoming industry.”
In order to prepare for the rapidly approaching future of the international cannabis sector, GTSO signed a letter of intent earlier this summer to acquire all or a controlling interest in its joint venture partner, Elevated Industries—a Canada-based company poised to become a dominant supplier of cannabis-based edible recipes in the booming North American marketplace. The company creates and licenses edible recipes that are available in jurisdictions where the sale of cannabis-based products is legal.
As the global market for cannabis continues to grow, GTSO plans to keep building new tools to help wholesalers and retailers guarantee their edible products’ potency, consistency and safety to their customers.
About Green Technology Solutions, Inc.
Green Technology Solutions, Inc., which provides business support, delivery system products and horticultural technology support, continually introduces new products and services, enabling it to compete alongside GW Pharmaceuticals GWPRF, +0.36% INSYS Therapeutics, Inc. INSY, -2.22% and ENDEXX Corp. EDXC, -13.64% and others in a booming industry expected to be $10 billion by 2018. A growth-oriented company, Green Technology Solutions Inc. (GTSO) explores the fast-growing cannabis market for resources, including but not limited to rare earth elements, precious metals and herbal supplements. For more information, visit www.gtsoresources.com/investors.