The Arizona Department of Health Services has issued its end-of-year report for 2020, and to the surprise of virtually no one, medical marijuana sales increased year-over-year, for the eighth year in a row.
Arizonans purchased 106 tons of cannabis products from dispensaries in 2020, according to the report, and all signs point to much higher numbers in 2021.
Arizona’s medical program is more “robust” than that of other states when they transitioned to recreational, and Richard expects a lot of “die-hard” medical consumers to keep their cards. (There’s a financial incentive for heavier users to keep their cards; cardholders who spend $100 a month or more at dispensaries would save good money over a year by avoiding the 16 percent excise tax on recreational products.) In fact, Arizona’s medical program was more popular than ever in 2020. The cardholding patient population grew to 295,295 by December 2020 and is likely over 300,000 today.
That’s a 34 percent increase over 2019. To compare, the number of patients grew by a (still-respectable) 25 percent from 2018 to 2019.
Demitri Downing, executive director of the Marijuana Industry Trade Association, said there are several ways to measure the Arizona marijuana market, but that saying sales will double “is conservative.”
“Certainly, the profits will double,” he said. “Triple, maybe more, depending on how supply and demand play out. The economics of marijuana is a brand-new discipline.”
That’s due largely to the fact that recreational cannabis is now legal for adults to buy as of January 22, 2021.
Anything Technologies Media Inc. (OTC:EXMT) has begun expanding its grow room facility just outside Tucson, AZ to include Cannabis production on a large-scale basis. The company has also partnered with a dispensary to lease a cultivation license to grow Cannabis in AZ and looks to have its first robust harvest in the near term. The company is also looking for other prospective cultivation sites in the state and will keep shareholders informed on the progress of its cultivation and grow room harvest.
“We believe recreational use in Arizona will increase exponentially over the next 24 months and we want to make sure the company is in a position to gain considerable market share in this arena. The timing of the AZ bill’s passage could not have come at a better time, as we have been planning to add Cannabis to our CBD production for months,” stated Lee Katterman, CEO of ATM.
Anything Technologies Media (OTC: EXMT) is a manufacturing and marketing company involved in the sales and marketing of CBD Health products and software applications. ATM is the parent company of subsidiary Corporations and is focused on partnerships and acquisitions in new technologies and manufacturing sectors. The company and partners each have their own professional management team with extensive backgrounds in finance, manufacturing, marketing and distribution. ATM’s goal is to combine the expertise of our team members to create a cohesive force, which will carry the company forward in the marketplace.
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