• A partnership with Sputnik Bank in Russia will enable the provision of third party bank processing services to local banks
• Regulatory approval and completion of the agreement are expected in the final quarter of 2018
• Net Element is the only Nasdaq-listed U.S. company that stands to benefit from the Russian electronic payment expansion

Global technology and value-added solutions group Net Element, Inc. (NASDAQ: NETE) recently announced a partnership with Sputnik Bank in Russia that’s aimed at offering third party bank processing to other banks in the country. As the October 2 announcement states, Net Element will get 25 percent of Sputnik’s outstanding stock, and a per-transaction fee has also been discussed, Zacks reported in a note published the day after the announcement (http://ibn.fm/3UHj0).

The partnership will be executed via Net Element’s PayOnline subsidiary. The agreement has to pass regulatory approval in Russia before it gets finalized. Such an approval is expected during the final quarter of 2018.

Founded in 1990, Sputnik is a commercial bank that holds $35 million in assets. It offers a full range of banking services to both private and corporate customers. Through its partnership with Net Element, Sputnik will become the first entity to start offering third party bank processing in Russia.

The partnership and the subsequent service will fill a rather significant market gap. Currently, Russian banks use in-house processing systems. These systems are expensive, and many of them have become outdated.

Net Element and Sputnik are expected to start selling a processing service to small banks, Russian third-party vendors, credit organizations, value-added resellers and sales organizations. The cost of processing will be brought down, and the service will also give smaller Russian banks a chance to utilize much more current software than the products on which they’re currently relying for in-house processing.

Sputnik will provide the capacity for the data center needed for the execution of the program. Financial instruments for settlement of transactions will also be provided. The partnership will enable PayOnline to process transactions as a payment facilitator. This way, PayOnline’s offering will be expanded beyond the current electronic commerce.

The total transaction value of digital payments in Russia is expected to reach $39.5 billion by the end of 2018 – a massive increase from $27.9 billion in 2016. The CAGR in the period from 2018 to 2022 is expected to be 11.9 percent, which means that the value of digital payments could amount to $61.8 billion in 2022 (http://ibn.fm/oAIPS).

Net Element CTO Andrey Krotov said in a news release that the innovative turnkey solution will enable frictionless onboarding for merchants with integrated, value-added services.

Net Element is a payments-as-service transactional and value-added services company that provides solutions to small and medium-sized businesses. The company operates both in the U.S. and in selected emerging markets. Its primary goal is to innovate SPE productivity services using blockchain technology solutions for the purpose of growing transactional revenue.

Deloitte’s 2017 Technology Fast 500 ranks Net Element as one of the fastest growing companies in North America. It is the only U.S. company listed with Nasdaq that stands to benefit from the Russian electronic payment expansion.

For more information, visit the company’s website at www.NetElement.com

• The U.S. Drug Enforcement Administration (DEA) ruling enables physicians to prescribe Epidiolex, a non-synthetic cannabis-derived medicine from United Kingdom-grown cannabis
• Cannabis entrepreneurs applaud the decision, even though it only applies to that specific drug; DEA decision requires approval of medications by the U.S. Food & Drug Administration (FDA)
• Several other CBD medications are in the pipeline for consideration by the FDA; move is seen as legitimizing the industry and changing it to traditional distribution of prescription-to-drug store

The DEA decision to approve the first non-synthetic CBD-derived drug, Epidiolex, and remove it from the agency’s most restrictive class of controlled substances is seen as having a positive impact on the cannabis industry and altering its channel of distribution, according to an article in the Hemp Industry Daily (http://ibn.fm/Nac4g). It is the first time that the agency has removed any type of cannabis from Schedule I.

The DEA has reclassified ‘finished dosage formulations’ of CBD and FDA-approved drugs that contain cannabis-derived CBD and less than 0.1 percent tetrahydrocannabinol (THC) as Schedule V. The decision comes after the FDA’s initial approval of the non-synthetic CBD-based drug to treat rare cases of epilepsy, the article notes.

Epidiolex has been rescheduled from Schedule I to Schedule V of the Controlled Substances Act. It was the first plant-based cannabis drug to be approved by the FDA. The most significant part of the decision is that the drug can be distributed through traditional pharmaceutical channels to patients based on a prescription from a doctor. It also means that the odds of successful commercialization of cannabis-based therapeutics have been greatly increased, both in the U.S. and globally, per the article.

ETST (OTCQB: ETST), a marketer of high purity and high grade full spectrum cannabidiol (CBD), believes that once the DEA’s decision goes into effect, it will be easier for companies to plan clinical studies with CBD. It also emboldens ETST’s strategy of becoming a licensed distributor that plans to work closely with researchers and pharmacists to serve the growing cannabis market (http://ibn.fm/d5WKH).

James Minutello, CEO of Leaf Logix, a Glendale, California, company that manufactures business management software for the cannabis market, stated in the article, “We’re one step closer to finally ending prohibition and legitimizing the industry.”

• The three online platforms provide a strategic step forward in advancing the company’s business model by creating tools to introduce the existing portfolio brands into vertical markets
• Again the company is setting itself apart by further demonstrating a unique business approach toward advancing operations and creating value in the sector
• The acquisition portfolio has the potential to generate substantial revenues on its own

Full-scope premium cannabis company Green Hygienics Holdings Inc. (OTC: GRYN) recently announced that it has acquired the Canna Brands Portfolio. This acquisition centers on three core products: Cannagram, Myijuana and The CoursePro Academy. The full press release can be found here: http://ibn.fm/38CSj.

According to Matthew Dole, SVP of business development for GRYN, this acquisition is a step forward in advancing GRYN’s business model. The Canna Brands products will work as a platform to introduce GRYN’s already existing portfolio into vertical markets. Together, these products hold the potential to generate substantial revenues.

The first product, Cannagram, is an online and mobile application flagship platform that will be rebranded as Cannagram Services. The full service package is the first of its kind in the market and will include:

• Social Engagement and Content Distribution
• File Sharing
• Encrypted File Sharing
• Bill Payment Processing
• Multi-Purpose Reloadable Debit and Credit Card Program
• International and Domestic Instant Funds Transfers
• Directory of Local Providers
• Marijuana Delivery Services
• Community Resources and Education
• Medical and Recreational Cannabis Offerings Purchases
• Blockchain Financial Services in 2019
• Cryptocurrency Offering in 2019

This product will help to further establish GRYN as a trusted partner by providing advanced communications and financial services to meet the needs of a rapidly changing industry. At the same time, Cannagram will extend brand awareness and cross-portfolio resources. “The Cannagram technology…” Dole stated in the news release, “will provide mission-critical solutions for transactional resources, tools and communications for cannabis industry providers and the recreational consumer audience, as well as providing solutions for patient care and treatment at the highest standards.”

The second product, Myijuana, is an established e-commerce system that GRYN can utilize for product sales and consumer use. An additional benefit to consumers is the Myijuana Dispensary Directory, a mobile-optimized online directory providing premium listings, self-service, geolocations, reviews and advertising.

The final product is the CoursePro Academy. This platform will provide GRYN the opportunity to create an educational destination for the cannabis industry. The Academy offers the company the potential to become a trusted leader in cannabis news, as well as further introducing GRYN’s tech and brands to a clearly defined target market.

GRYN has more than 25 years of experience in agricultural science and innovation and is establishing itself as a global leader in the advancement of science-driven cannabis cultivation systems. The company is advancing as a trusted global consumer brand by:

• Employing scientific methodology to the cultivation of cannabis
• Developing unique global brands
• Selling premium grade cannabis products to the high-end medical and adult-use recreational markets
• Developing and licensing valuable intellectual property assets
• Making strategic acquisitions

GRYN continues to pursue unique solutions that are poised for scalability, build customer loyalty and support growth across the company’s portfolio. The addition of the Canna Brands IP assets portfolio is one strategic step forward in advancing the company’s business model.

For more information, visit the company’s website at www.GreenHygienicsHoldings.com

• SeeThruEquity recommends a share price of $0.30
• Bill would make hemp an ordinary agricultural product and no longer a controlled substance
• Hemp-derived cannabidiol market worth $591 million, expected to hit $22 billion in under five years

With the U.S. Congress on the verge of making hemp an ordinary agricultural crop instead of a controlled substance, hydroponics supply company Sugarmade, Inc. (OTCQB: SGMD) has made comments on its recent venture into the hemp market (http://ibn.fm/5Xt4m).

Sugarmade last month announced that it was investing $1 million in Hempistry, Inc., a company producing ultra-high cannabidiol hemp. Hempistry in July started work on cultivating hemp on 23,000 acres of farmland in the U.S. state of Kentucky.

In a news release, Sugarmade CEO Jimmy Chan commented, “We are especially excited about the particular strain of hemp that was planted, which is expected to yield up to 14 percent CBD. Such a strain of product is in significant demand and it is expected that the entire crop will be sold prior to harvest. Our timing on our investment could not have been better considering the pending Farm and Hemp Bills and demand situation, which seems to get tighter almost every day.”

In addition to its investment, Sugarmade is negotiating a deal to supply Hempistry with cultivation supplies.

The hemp-derived cannabidiol market, worth $591 million this year, is expected to reach $22 billion by 2022, according to analysis by Brightfield Group (http://ibn.fm/T6MkI). The bill becoming law will, among other things, make it easier for companies to transport hemp across state lines and have access to insurance.

Another key benefit is the likely growth in the market for CBD, a cannabis component that has pharmaceutical applications and does not cause intoxication.

Chan added, “We expect the passage of the Farm Bill to further open the markets for industrial hemp and the cannabis components derived from hemp. It is an exciting time in the hemp industry. We are very pleased to have already made a significant investment into hemp cultivation that we believe will create strong additional value holders for Sugarmade common shares.”

Sugarmade’s expansion into the hemp market comes as Independent research firm SeeThruEquity announced that it is to begin coverage of the company (http://ibn.fm/oNH2F).  SeeThruEquity, in its first report, said, “Sugarmade appears well-positioned to target the large and growing opportunity to supply hydroponics equipment and supplies to the cannabis cultivation market in the United States through its master marketing agreement with BizRight.” It recommends a target share price of $0.30 for Sugarmade.

Discussing the coverage, Chan said, “Having Sugarmade highlighted by SeeThruEquity is important to this management team. Over the past two years, Sugarmade has almost completely restructured. We have entered one of the fast-growing sectors of the American economy, reduced debt levels, added a significant number of personnel, moved our headquarters, and most importantly, positioned our Company for substantial growth. Based on our growth rates, we now believe our $30 million revenue guidance for next year is very conservative. We welcome SeeThruEquity’s research coverage and look forward to supplying its analyst a steady stream of news on high quality developments regarding our progress.”

For more information, visit the company’s website at www.Sugarmade.com

• Technology partnership signed with Integral Genomics Inc. (dba Lighthouse Genomics Inc.) to support BLOCKStrain’s registry of genetic profiles of cannabis strains
• Valuable intellectual property rights of cannabis cultivators under attack from unscrupulous illegal growers, gray market
• Recent reschedule of first FDA-approved drug derived from cannabis paves the way for sales, underscores necessity of BLOCKStrain’s “Single Source of Trust” registry
• Legislation efforts growing in U.S. as Canada readies recreational cannabis sales throughout nation
• Global legal cannabis market projected to reach $146.4 billion by end of 2025

In a move crafted to support advancements in science and technology within the legal cannabis industry, BLOCKStrain Technology Corp. (TSX.V: DNAX) (OTC: BKKSF) has entered into a technology partnership with Integral Genomics Inc.’s operating entity Lighthouse Genomics. In a news release, BLOCKStrain heralded the agreement with Lighthouse, noting that the principal scientists of the company, Dr. Gina Conte and Tim Harvey, are award-winning experts in evolutionary genetics, cannabis breeding and strain propagation with decades of experience in the Canadian cannabis market (http://ibn.fm/ZaATI).

The partnership will support BLOCKStrain’s initiative to provide quality assurance data to consumers and governmental regulators at a time when registering and tracking the cannabis supply chain is at a critical juncture. A Forbes article emphasizes the stunning growth of the cannabis industry as more U.S. states legalize various uses of the plant and Canada readies for the launch of recreational adult-use cannabis on October 17, 2018 (http://ibn.fm/phoeF).

“BLOCKStrain has developed enterprise technology that allows us to collect, store and manage this critical data in an immutable, blockchain-protected database,” BLOCKStrain Chief Executive Officer Robert Galarza said in the news release. “However, since we rely on third party labs to provide us with that data it is imperative for us to support scientific advancements in genetic testing and analysis. The Agreement we have reached with Lighthouse Genomics allows us to support advancements in science and technology, which can then be offered to our clients.”

Lighthouse operates an advanced testing laboratory for DNA and quality assurance testing of cannabis products.

“We have been working with the incredibly talented team at Integral Genomics for months now, and we believe the testing regimens they’ve developed will become a critical aspect of our product offering to Licensed Producers, regulatory bodies and even to consumers,” Galarza continued. “Product integrity is paramount to the success of the cannabis industry and together BLOCKStrain and Lighthouse will bring transparency, trust and a deeper scientific understanding about what cannabis strains can do for patients and customers. We are excited about combining our world class teams in science and technology.”

The cannabis industry is well served by an ancient saying attributed to Greek philosopher Heraclitus: “Change is the only constant in life.” A recent case in point is the June approval by the U.S. Food and Drug Administration of a product derived from cannabidiol, or CBD, to treat patients with rare forms of epilepsy that emerge during childhood. The Drug Enforcement Division followed by rescheduling the drug, paving the way for its use and sale, although the agency stopped short of reclassifying all CBD products, a CNBC article reports (http://ibn.fm/jPxwf).

In an industry where a popular strain of cannabis can be worth millions and a CBD-derived drug is nearing its legally sanctioned debut, protecting ownership of genetic strains, potency and other intellectual properties is crucial. BLOCKStrain has developed the first integrated blockchain platform that provides a “single source of trust” for the cannabis industry. The BLOCKStrain platform is proprietary, immutable and cryptographically secure, allowing growers and breeders to identify and secure rights to their irreplaceable intellectual property.

“Lighthouse and BLOCKStrain share a common vision of the positive evolution we’re aiming to support as the industry proceeds into the legal era,” said Harvey. “As a company, Lighthouse exists to shine a light on a plant’s genetic code, and also to cast a light on positive players in the industry, companies that proudly stand behind their product and practices.”

Grand View Research, Inc. projects the global legal marijuana market to reach $146.4 billion by the end of 2025 (http://ibn.fm/0X93X). Growing research has led to the introduction of new cannabis strains, which is expected to increase product development and revenues, the report states. BLOCKStrain delivers needed transparency to growers, retailers, regulators and consumers as each seeks assurance that the genetics, potency and equivalencies between cannabis strains and products meet established quality controls.

For more information, visit the company’s website at www.BLOCKStrain.io

• Iron Creek estimates call for 45 million pounds (20,411 tonnes) of cobalt
• Drilling underway for expanded resource estimate that’s expected in 2019
• Board strengthened with appointment of CEO of electric vehicle innovator

Cobalt resource estimates in North America just got a boost, after First Cobalt Corp. (TSX.V: FCC) (OTCQX: FTSSF) (ASX: FCC) released the results of its first NI 43-101 Mineral Resource Estimate for its 100 percent-owned Iron Creek Cobalt Project in Idaho. The junior explorer announced Inferred Mineral Resources of 29.6 million tons (26.9 million tonnes) grading 0.11 percent cobalt equivalent, under a base case scenario, and an alternative underground-only scenario indicating 4.9 million tons (4.4 million tonnes) grading 0.30 percent cobalt equivalent (http://ibn.fm/qqjG9). As concerns about cobalt supply from Africa mount (about 60 percent of global output originates in the Democratic Republic of the Congo), this should cheer electric vehicle (EV) manufacturers. The metal is an essential component of lithium-ion batteries, which provide the motive force for such vehicles.

An “Inferred Mineral Resource” is a concentration of some mineral that appears to have a reasonable prospect for economic extraction and for which the quantity and grade has been estimated on the basis of drilling samples. The geological evidence obtained by First Cobalt points to a resource that contains 45 million pounds (20,411 tonnes) of cobalt and 175 million pounds (79,379 tonnes) of copper for 62.9 million pounds (28,528 tonnes) of cobalt equivalent. This is much more than the company had previously hoped, but it should come as no surprise. The Iron Creek Project had already recorded a historic mineral resource estimate of 1.3 million tons grading 0.59 percent cobalt, albeit one that was non-compliant with NI 43-101, unlike the present results. The company has initiated drilling for an expanded resource estimate that’s expected in early 2019.

First Cobalt Corp., with headquarters in Canada, is a vertically integrated North American pure-play cobalt company. The company has three significant North American assets: the Iron Creek Project in Idaho; the Canadian Cobalt Camp, with more than 50 past producing mines; and the only permitted cobalt refinery in North America capable of producing battery materials.

Recently, First Cobalt announced the appointment of Henrik Fisker, chairman and CEO of California-based electric vehicle OEM Fisker Inc., to the company’s board of directors with immediate effect (http://ibn.fm/gmXZo). As a global automotive design icon and renowned entrepreneur, Fisker brings his unique understanding of electric vehicles and outside perspective to the company. The addition of Fisker to the company’s board of directors will allow First Cobalt to draw from his many talents as an EV pioneer, entrepreneur and successful OEM car designer.

Throughout his career in the automotive sector, Fisker has become synonymous with iconic cars and leadership in premium electric vehicle development. Fisker’s vision is behind some of the most emotionally appealing vehicles ever created, including the BMW Z8, the Aston Martin DB9/V8 Vantage, the VLF Force 1, the Fisker Karma and more. Henrik and Fisker Inc. are currently working toward the development of the next generation of electric vehicle expertise, tomorrow’s technology and compelling design for the advancement of human mobility and comfort.

For more information, visit the company’s website at http://ibn.fm/FTSSF

• Average daily GreenBox transaction volume projected to reach $1 million by 4Q2018
• Recently announced completion of parent company takeover, ensuring that all assets are now transferred onto GRBX’s books as planned
• Acquisition of Sky Mids Technologies includes Sky’s book of transactional business capable of processing greater than $1 billion annually
• Global point-of-sale terminals market expected to reach $116 billion by 2025 with a CAGR of 9.9 percent

Hardware and software technology company GreenBox POS, LLC (OTC: GRBX) continues to meet its strategic goals head-on with a well-stocked suite of flagship products, services and custom hardware. The company recently completed the transfer of all business and assets of its parent company onto GRBX books in a transition that Executive Vice President Ben Errez said was accomplished without disrupting normal operations.

“We had a challenge delivering all the required disclosures on time. I am happy to see that the added effort paid off and the process was successfully completed,” Errez stated in a news release regarding the takeover (http://ibn.fm/7NR7H). “Our goal of being completely transparent with our shareholders, investors, and the market is a top objective for the company, and new procedures and additional staff will ensure this goal moving forward.”

The recent acquisition of Sky MIDS Technologies also brings not only Sky’s staff of highly qualified engineers to the GreenBox team, but the potential to greatly expand the company’s point-of-sale business. Sky’s transactional book of business, capable of processing over $1 billion annually, is selectively being added to GreenBox’s infrastructure volume, as detailed in a recent news release (http://ibn.fm/9GMHo).

“We have been working with Sky for a while now and are thoroughly impressed with their technology and capabilities,” Errez stated in the release. “Their engineers are top notch and I am confident the synergy will continue to add to the plethora of new technologies we have brought, and will continue to bring, to market. GreenBox’s unparalleled infrastructure sets new and much higher expectations by both businesses and consumers. Following the Sky acquisition, we will be able to accelerate the pace by which the thousands of new business applications are processed, and the best selected to join our ecosystem and enjoy the benefits of our technology.”

GreenBox flagship products, services and custom hardware answer today’s call for portability, protection, security, accessibility and convenience, with all records stored on blockchain and data reliably secured and protected. For instance, the QuickCard Kiosk handles all cash management issues, physical and virtual (http://ibn.fm/Fkpew). The Kiosk, integral to the QuickCard payment platform, performs direct and immediate deposits from cash to blockchain and confirms bank account availability instantly. The GreenBox POS software is fully integrated with delivery and payment systems and features front register mode and back-end admin mode, in addition to super-admin mode to manage employees, vendors, expenses, taxes and compliance. The LOOPZ delivery software solution offers service dispatcher back-end technology with manual and automatic modes. Its unique design gives mobile delivery service operations full autonomous dispatch capabilities with two mobile apps (driver and consumer) running on Android and iOS.

The global point-of-sale terminals market is expected to reach $116 billion by 2025, growing at a CAGR of 9.9 percent during the forecast period, according to Grand View Research, Inc. (http://ibn.fm/yzPyE). A significant surge in demand for affordable wireless technologies and mobile point-of-sale terminals, which decrease the cost of operation for retailers and provide better reliability, is underway among end users, per the report.

For more information, visit the company’s website at www.GreenBoxPOS.com

• Completion of full audit for fiscal year ended March 31, 2018
• Close of three-year audit required to become fully reporting company with SEC
• Plans afoot to uplist to a higher OTC Markets tier

Cannabis Strategic Ventures, Inc. (OTC: NUGS) wants to be an open book. The company has announced the completion of a full audit for its fiscal year ended March 31, 2018. This marks the close of the three-year audit required as a condition of becoming a fully reporting company with the U.S. Securities & Exchange Commission (SEC). Cannabis Strategic Ventures will utilize the audit results to file future reports and disclosures with the SEC and move the company to fully reporting status. The company will also use the fully reporting status to uplist to a higher OTC Markets tier (http://ibn.fm/aHlVj).

The OTC Markets in some ways resemble traditional debutante balls, for they allow investors an introductory look at public companies by publicizing information about the companies and their securities prices. A company that wants to appear on an OTC Market – OTCQX, OTCQB or Pink – must get its securities to be the subject of broker-dealer quotes on OTC Link ATS. To quote a company’s securities, a broker-dealer must seek approval from the Financial Industry Regulatory Authority (FINRA) by submitting a Form 211. Unlike on the senior stock exchanges, such as the NYSE or the Nasdaq, OTC companies do not list their own stock for trading. Rather, the securities are quoted on OTC Link ATS. Consequently, securities appearing on the OTC platforms are, strictly speaking, “quoted” not “listed.” Moreover, securities quoted on the OTCQX, OTCQB and Pink markets may trade without being registered with the SEC.

Being “quoted” is, typically, the first step toward being “listed,” which offers many advantages for a company’s securities, including better price determination and increased liquidity. Holders of the securities also benefit from increased information about the company, which becomes mandatory, as well as access to an orderly marketplace, the reassurance of regulatory oversight and the availability of trading information and pricing. As it heads for fully reporting status, NUGS’ securities are set to benefit from this increased transparency.

The company, based in Los Angeles, California, focuses on supporting entrepreneurial growth within the fast-growing legal cannabis sector, and it has embarked on a number of ventures that align with that initiative. Together with True Promise Beauty, the company will be developing a new line of cannabidiol (CBD)-based luxury skin and hair care products – LYXR – from ingredients like hemp-derived phytocannabinoids and other natural components (http://ibn.fm/Il4aa).

Additionally, Cannabis Strategic Ventures recently announced its acquisition of The Asher House Pet CBD brand, a line of U.S. hemp-derived cannabidiol (CBD) supplements for pets, which targets a market vertical that’s becoming increasingly popular (http://ibn.fm/HOD3O). The company also acquired the hemp-based brand Fitamins CBD, which provided a line of vitamin and hemp-derived CBD products that will be distributed through a network of 600+ wholesalers serving the Asian-American market (http://ibn.fm/Cgdye).

Cannabis Strategic Ventures also offers bespoke personnel solutions to match the growth dynamics of cannabis cultivators, manufacturers, dispensaries and other cannabis marketplace participants. Earlier this year, it announced a definitive agreement to acquire all issued and authorized shares of Worldwide Staffing Group, Inc. (Worldwide). The acquisition is expected to boost revenues substantially. For 2017, Worldwide’s revenues were approximately $1.5 million (http://ibn.fm/xjeuV).

For more information, visit the company’s website at www.CannabisStrategic.com

• NUGL pressing first mover status with wide array of search variables for cannabis consumers
• Recent “Stock Day” interview and sales VP addition highlight company’s increasing exposure to marketplace
• NUGL exceeds estimates for application downloads and sign-ups

NUGL Inc. (OTC: NUGL), an internet-based search engine that gives cannabis users a responsive directory specialized to their need to find outlets with defined products, is continuing to roll out new features, including options that allow members to share comments on their results, as the company prepares to monetize its operations with new growth.

“We are getting into the market very methodically. We are gaining users and brands. We are putting together some strategic alliances. It’s going good,” C.J. Melone, the company’s technical engineer of software programming, told “Stock Day” host Everett Jolly in a recent interview (http://ibn.fm/y9mIU).

“We built an application that addresses every type of business in the 420 sector, such as services from a CPA or a real estate agent. We cover dispensaries and hydro-stores, and we really focus on a brand – for example, a new vape pen coming out or a new strain of marijuana,” Melone continued. “We are growing every day. We are not trying to do things on a whim. We are in this for the long haul.”

NUGL is the cannabis industry’s first search app and online directory offering metasearch power with unbiased search results that don’t foster paid placement listings or preferential outside reviews. The search engine serves an international market without geographic borders and offers users a simple way to verify the cannabis brand retailers closest to the consumer with the desired products or services, including ancillary services such as medical or legal help.

The growth of client traffic and application downloads has advanced the possibility of advertising placements that will include featured listings, pulsating icons on the map, unobtrusive pop-ups for messages and internal “blasts” to users. Melone said that the company is beginning to accept advertising to monetize its app and will look at other options after about 30 days as it analyzes usage.

“The challenge is always marketing and gaining those eyeballs. And then the second challenge, that we are doing pretty well with, is really educating people… and really teaching these brands how to become more sophisticated and market their product and bring it to market. A lot of things that they can do in the industry they can simply can do in the software,” Melone added.

The company builds profiles that also link marijuana industry insiders with each other in a B2B capacity, allowing new ventures access to a network that might otherwise be hard to establish. Melone noted that the app has a lot of the same features offered by larger competitors, but “with the B2B application that we offer on the back end, in the cannabis space we really don’t have any competition yet.”

Melone expects that to change, making NUGL responsible for staying relevant and responsive to its users. The company grew fast at launch thanks in large part to a social media presence that reached about 10,000 followers in its first month (http://ibn.fm/uHaj7).

NUGL also recently announced its decision to bring Bob Waters on board as vice president of sales (http://ibn.fm/VMc4b). Waters, the former associate publisher and sales director of Culture Magazine, exemplifies the quality of the company’s executive leadership and its foundation in advertising and sales.

“I’m a firm believer in the value of building and protecting an excellent reputation,” Waters stated in a news release. “When I was first introduced to NUGL and read the company’s philosophy, ‘for the people by the people,’ it raised my interest. I started to learn more about what NUGL is building and the company’s long-term goals and thought, I really want to be a part of this, and so I am. Culture Magazine has been great to me and we plan to work with them in the future.”

For more information, visit the company’s website at http://ibn.fm/NUGL

• Petroteq has commenced commercial production at its Asphalt Ridge oil extraction facility in Utah
• Initial production at Asphalt Ridge is anticipated to reach 1,000 barrels of oil per day, with production expected to increase to as much as 8,000 BPD by 2021
• The company has been recently featured by various major news outlets, including The New York Times

From Fox Business (http://ibn.fm/ypnVV) to The New York Times (http://ibn.fm/PEXV4), oil and gas company Petroteq Energy Inc. (TSX.V: PQE) (OTC: PQEFF) (FSE: A2DYWC) has been making headlines in a big way. What is all the buzz about? Petroteq has pioneered a sustainable and environmentally safe technology for extracting heavy oils from oil sands, oil shale deposits and shallow oil deposits—the first of its kind in the industry.

In a recent published statement from CEO David Sealock, the company announced that it has commenced commercial production at its Asphalt Ridge facility in Utah utilizing this game-changing technology, is approaching a production capacity of 1,000 barrels per day and is on the cusp of putting its oil on the market (http://ibn.fm/ERLkB).

For decades, major oil companies have attempted, unsuccessfully, to tap into these rich oil shale and oil sands deposits in Utah in a financially sound and environmentally friendly way. The Petroteq team, armed with the company’s patented extraction technology, is the first to viably unlock these resources.

The oil sand and shale reserves of Utah and its neighboring states are thought to be the largest untapped reserves in the U.S., and Petroteq is the pioneering company that holds the key to unlocking these valuable deposits.

“That is why what we are doing is so important – we are spearheading a movement that helps towards the goal of the United States becoming energy independent,” Petroteq CEO David Sealock said in his statement (http://ibn.fm/rphNH).

While the initial production capacity for the Asphalt Ridge facility will be 1,000 barrels of oil per day, Petroteq anticipates that this will grow to as many as 8,000 barrels per day by late 2020 or early 2021 (http://ibn.fm/vWq1K). According to an article recently published in The New York Times discussing Petroteq’s groundbreaking technology, that output could reach 10,000 barrels per day within 25 years (http://ibn.fm/vVE1u).

If Petroteq’s Asphalt Ridge facility performs as expected, the sky could be the proverbial limit for the company as it turns its sights on other oil-rich locations in the U.S. and on shallow oil sands deposits elsewhere in the world. Petroteq is already in talks regarding possible joint ventures and licensing agreements with companies in Colombia, Australia, Venezuela and Trinidad and Tobago.

Petroteq recently discussed its patented, pioneering technology in a presentation at The MicroCap Conference in New York City (http://ibn.fm/hOkN1). As the buzz continues to swarm around this revolutionary company, 1,000 barrels of oil per day could be just the tip of the iceberg.

For more information, visit the company’s website at www.Petroteq.energy