Profitable Developments, Inc. (OTC Pink: PRDL) (PINKSHEETS: PRDL), today announced that is diversifying its portfolio to look at how they can expand into the Medical Marijuana space and explore property opportunities.
Profitable Developments President, Carl Grant, spoke of his interest in the MMJ space earlier this month when he outlined a possible synergy between the booming MMJ interest and the requirement for legal and licensed Property for professionals in this space to work from.
He commented, "This is a new and massively growing sector that needs legal and licensed premises to work from. We have the ability to raise capital and, now that PRDL has its older liabilities more under control, it should be looking to invest in how we can make space for these premises in a future portfolio. I saw recently, also, that even the weed magazine High Times has started its own $100 million private equity fund in anticipation of a coming windfall."
Key to this strategy is to attract both the professionals in this space as well as to bring to the table the clientele who legally make use of the Medical Marijuana laws passed in several States. To this end, the Company is setting up an online portal over the coming weeks at the address www.maps2weed.com which will aim to bring all of the latest information in this space together to attract the demographic, and then start to connect them with properties that can be used legally for the newly formed Medical Professionals in the space.
The trade journal Medical Marijuana Business Daily currently estimates that a fully legalized cannabis market could be as large as $46 billion per year, while more conservative observers peg it at anywhere between $10 billion and $40 billion and access to the right properties will be as much a core part of this growth as water supply and sunlight.
It is anticipated that the portal will be online during July and will start to attract users throughout the following weeks. Steps will be taken in Q4 to start to deliver the business strategy of linking this demographic with the required real estate.
About Profitable Developments, Inc.
Profitable Developments, Inc. is Property Development Company listed on the OTC markets as a Current Information Company. Specializing in key locations globally in both underpriced land as well as in Property, the Company has an aggressive strategy to capitalize on the rising prices of Real Estate.
This press release may contain forward-looking statements, including information about management's view of Profitable Developments, Inc.'s future expectations, plans and prospects. In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of Profitable Developments, its subsidiaries and concepts to be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on Profitable Developments' future results. The forward-looking statements included in this press release are made only as of the date hereof. Profitable Developments cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, Profitable Developments undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by Profitable Developments.
Profitable Developments, Inc.
SOURCE: Profitable Developments, Inc.