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What Passage Of Ohio Legal Marijuana Bill Means For Cannabis Science Inc (OTCMKTS:CBIS)

Ohio lawmakers recently voted 71 to 26 to legalize medical marijuana in the state and that widens the market for marijuana companies such as Cannabis Science Inc (OTCMKTS:CBIS). Other marijuana companies poised to benefit from the passage of the Ohio medical marijuana bill include CSA Holdings Inc (OTCMKTS:CSAX), Cannasys Inc (OTCMKTS:MJTK) and Grow Condos Inc (OTCMKTS:GRWC).

In legalizing cannabis to help with treatment of some of the debilitating medical conditions such as seizures, Ohio lawmakers observed that marijuana was better than opiates. For example, opiate drugs caused a reported 2,020 deaths in 2014 and 80% of those deaths were due to overdose. But cannabis overdose has not been known to cause deaths.

Governor John Kasich of Ohio was indicated that he was ready to a sign a medical marijuana bill into law as long as it was properly drafted.

 How do Cannabis Science Inc (OTCMKTS:CBIS), CSA Holdings Inc (OTCMKTS:CSAX), Cannasys Inc (OTCMKTS:MJTK) and Grow Condos Inc (OTCMKTS:GRWC) stand to benefit from cannabis legalization in Ohio?

Cannabis Science Inc (OTCMKTS:CBIS) sees market widening with the Ohio bill

Cannabis Science Inc (OTCMKTS:CBIS) is engaged in the business of researching and developing medical marijuana products focused on treating critical illnesses. The Ohio medical marijuana legalization bill means that the market is poised to expand for the company.

Cannabis Science Inc (OTCMKTS:CBIS) recently filed its fiscal 2015 financial results in which cash balance as quoted at $62,000 and revenue cited at $44,000.

CSA Holdings Inc (OTCMKTS:CSAX) expanding in underserved marijuana market

CSA Holdings Inc (OTCMKTS:CSAX) is extending its security solution to help fill yawning gap in legal marijuana industry. The company recently inked a deal that would see it use its armored transportation machines to help marijuana producers and vendors move their cash securely. Because banks don’t handle marijuana money, marijuana businesses have to rely on cash for transactions and that poses a serious nightmare in moving the cash around.

Cannasys Inc (OTCMKTS:MJTK) acquiring CitizenToke to strengthen distribution platform

Cannasys Inc (OTCMKTS:MJTK) plays different roles in the legal marijuana industry. One of its roles involves streaming distribution of cannabis products between producers/vendors and consumers/patients. The company recently announced acquisition of CitizenToke to enable it to strengthen and enhance its marijuana distribution program.

Cannasys Inc (OTCMKTS:MJTK) stands to benefit from an expanded legal marijuana market, which is why the Ohio bill makes sense for its business model.

Grow Condos Inc (OTCMKTS:GRWC) secure funding for expansion

Grow Condos Inc (OTCMKTS:GRWC) is engaged in the business of providing grow facilities to marijuana farmers. It recently announced an equity financing deal with Tangiers Global LLC that will provide it with $5 million to support its expansion and other programs.

The Ohio medical marijuana bill bodes well for Grow Condos Inc (OTCMKTS:GRWC) as the company expands capacity.

By Jaime Williams

Jaime is a MBA graduate from UC San Diego and has written for for over 3 months now. She has a particular fondness for the medical marijuana industry but also likes writing on energy, consumer goods, and technology.

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