Puget Technologies (OTCBB:PUGE) announced its subsidiary, Cannabis Biotech, is initiating the development of a cannabis infused beverage line. The beverages will be developed using flavor profiles and active ingredients based on the company’s ongoing research.
This effort is part of Cannabis Biotech’s investigation of alternative delivery systems for medical marijuana to appeal to the growing number of patients who desire the benefits of medical marijuana but do not want the harmful effects or stigma of smoking it. This is in response to the shift in thinking in the U.S. where 20 states and the District of Columbia have now enacted laws legalizing the use of medical marijuana.
Forbes reported the U.S. medical marijuana market, worth $1.7 billion in 2011, will explode to $9 billion by 2016.
President and CEO of Puget Technologies Ron Leyland said, “Our outstanding research and development team is pushing the limits to achieve superior delivery methods for the growing market seeking natural cannabis-based medicine.” He added, “Cannabis BioTech is committed to becoming an industry research leader as it develops products using rigorous protocols, strict administration and exacting quality standards.”
Earlier this year, Puget Technologies, led by Leyland, entered the $40 billion energy drink market with a line of energy drinks and shots. Leyland said the cannabis-infused beverages will provide a refreshing, organic alternative for patients seeking relief from nausea, chronic pain, muscle spasms and other conditions.
In addition to the beverages, Cannabis Biotech is also exploring sophisticated transmucosal delivery systems (administered through the mucous membranes) and transdermal patches to add to its growing product line.
More information about Cannabis BioTech can be found at http://www.cannabisbiotech.com.
About Puget Technologies (PUGE)
Puget Technologies is a publicly traded company on the OTCBB Market stock exchange under the ticker symbol PUGE. Headquartered in Ft. Lauderdale, Florida, Puget Technologies acquires, develops and sells leading edge consumer oriented products ready for rapid commercialization. Product lines under development include B-29 Energy Drinks and several medical marijuana products through its subsidiary, Cannabis Biotech. Puget’s strategy is to become a recognized market leader in its product categories. Much of its resources are dedicated to research and development in order to provide consumers with quality options while meeting the expectations of its investors.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange act of 1934, as amended, including statements that include the words "believes," "expects," "anticipates," or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release only speaks as of the date of its distribution.
Ron Leyland, 954-332-2471
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