Advanced Container Technologies Inc. MedX Subsidiary Signs On New Marketing & Consulting ...
Company says the division’s Q1 revenues are better then expected
CORONA, Calif., March 31, 2021 (GLOBE NEWSWIRE) -- Advanced Container Technologies, Inc. (Ticker: OTC:ACTX ), stated its MedX subsidiary has brought on the new Firm with a sole focus of expanding sales to the Canadian market so it can sell more of its products direct to independent distributors and retailers alike.
MedX manufactures and distributes ancillary products in the Canadian cannabis market. The company offers a variety of compliant packaging solutions, including the patented Medtainer™ - a unique odor and leak proof container that features a built-in grinder for the storage and preparation of products for specialty markets, including healthcare, coffee/tea, pharmaceutical, cannabis, and veterinary medicine.
The Medtainer was originally engineered as a solution to break down medications for the needs of pediatric and geriatric patients. Today, the Medtainer has been adopted into a variety of markets. It is composed of environmentally safe FDA approved medical grade plastics and meets or exceeds regulations for safe child-resistance.
According to MarketsAndMarkets, the global cannabis market is estimated to be valued at USD 20.5 billion in 2020 and is projected to reach USD 90.4 billion by 2026, recording a CAGR of 28.0%. It is witnessing significant growth due to increasing legalization of cannabis across various regions. Also, market growth “can also be attributed to the increasing awareness among consumers regarding health benefits of cannabis and its growing medical applications.”
The report also states that the North American region is going to “dominate the global market” due to increasing legalization of cannabis for both medical and recreational purposes.
CIBC Capital Markets, the investment banking subsidiary of the Canadian Imperial Bank of Commerce, forecast recreational cannabis sales hitting 2.5 billion Canadian dollars in 2020 – more than double last year’s CA$1.2 billion in sales.
ACTX offers a variety of products for several vertical markets, including the legal cannabis sector. In addition to packaging solutions and ancillary products, the company also offers the GrowPod system to enable entrepreneurs, businesses, communities and non-profit agencies the means to grow herbs, vegetables and cash crops, year-round in a controlled and automated environment. GrowPods can help bolster community food security, as well as provide new jobs and economic opportunities.
Using technology to control the environment, temperature, soil quality, water distribution, and nutrient levels, GrowPods offer the means to grow a year-round supply of fresh and nutritious food and robust crops without any pesticides, herbicides, or diseases that can be found on traditional farms.
Doug Heldoorn, CEO of Advanced Container Technologies, Inc., said that he is proud of the revenue results at the MedX division.
“As we continue to execute on our business plan, we will adapt to new market conditions and aggressively market our state-of-the-art products and solutions to multiple sectors,” he said. “The Canadian market is ripe with opportunity, and with this new partner creating easier access and better financial return we look forward to further expansion of our market share.”
For more information, call (951) 381-2555 or visit: www.advancedcontainertechnologies.com.
About Advanced Container Technologies, Inc.
Advanced Container Technologies, Inc. is in the businesses of selling and distributing hydroponic containers called GrowPods; and designing, branding and selling proprietary medical grade containers that can store pharmaceuticals, herbs, teas and other solids or liquids, and can grind and shred herbs; as well as selling other products and accessories, such as humidity control inserts, odor-proof bags, lighters, and plastic lighter holders; and provides private labeling and branding for purchasers of the Company’s containers and the other products. For more information visit: www.advancedcontainertechnologies.com.
This release includes predictions or information considered “forward-looking” within securities laws. These statements represent Company’s current judgments but are subject to uncertainties that could cause results to differ. Readers are cautioned to not place undue reliance on these statements, which reflect management’s opinions only as of the date of this release. The Company is not obligated to revise any statements in light of new information or events.