Holding company Player’s Network, Inc. (OTCQB: PNTV) on May 30 had the sixth highest volume on the OTCQB stock exchange (http://nnw.fm/B8bdC) after announcing that it had received its medical marijuana licenses to begin cultivation and production operations right away. The trend continued on May 31, when Player’s Network had the 10th highest volume on the OTCQB, up 9.2 percent and closing at $0.070 per share. Following yesterday’s news of a corporate milestone and first revenues, Player’s Network continued to climb, setting a new 52-week high of $0.075 at market close.
In a press release (http://nnw.fm/y8hOK) on Tuesday, Player’s Network said the medical marijuana licenses will allow the company to grow an unlimited amount of plant and to produce marijuana extracts and edible products in its 27,000-square-foot production facility located in North Las Vegas, Nevada. Cultivation and production operations would be conducted by Green Leaf Farms Holdings, LLC, where Player’s Network owns an 85 percent stake. Green Leaf Farms planned to begin planting operations immediately, with rosin and cold-water hash products to be the first products taken to the Nevada market in the near future.
In addition, PNTV followed this up on Thursday by announcing its first revenues and the awarding of Nevada licenses that allow the company to supply recreational marijuana products to Nevada-based retail dispensaries (http://nnw.fm/XMQ4u). Once distribution of recreational marijuana to Nevada dispensaries begins, as early as the first of July, this represents another source of revenue for Green Leaf and further opens the company to the burgeoning Nevada tourism market.
Player’s Network Director Brett Pojunis said the company expects the market to respond well to its products, as it has with other public companies that have gone through the same licensing process. Pojunis also said he expected the company to start generating significant revenue and that becoming fully operational after obtaining its cultivation and production licenses was a major milestone for Player’s Network. The sentiment was echoed by CEO Mark Bradley, who said the licensing finally allows Player’s Network to focus on its goal of developing high-quality brands within the medical marijuana industry. Bradley also voiced appreciation for the company’s production facility, which, he said, is likely to become one of the leading medical marijuana production hubs in the world once it is fully built.
A diversified holding company with a presence in the marijuana and media industries, Player’s Network focuses on developing profitable businesses in the cannabis industry. The company provides investors with various opportunities on the market and its current holdings range from startups to fully operational firms. A large part of its operations on the medical marijuana market, including cultivation and production of extracts and edibles, is conducted via Green Leaf Farms.
The company’s activity in the media sector is represented by wholly owned subsidiary WeedTV.com, a lifestyle channel and niche social network for the cannabis industry. The channel aims to be a leading source of information, products, services and entertainment for people interested in the marijuana industry and lifestyle.
Company division Marijuana Accelerator is also an important component of Player’s Network marijuana industry operations. A smart ecosystem specifically designed to connect investors and entrepreneurs to the company’s network, Marijuana Accelerator’s main goal is to identify resources for Player’s Network.
For more information, visit the company’s website at www.PlayersNetwork.com
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