LAS VEGAS, NV--(Marketwired - Jun 1, 2017) - Player's Network, Inc. (OTCQB: PNTV), a diversified company operating in media and cannabis markets, today announces the award of its recreational marijuana licenses by the State of Nevada that allow the Company to supply recreational marijuana products to Nevada-based retail dispensaries.
This achievement augments PNTV's recent award of two state-issued medical licenses to operate its 27,000-square-foot facility in North Las Vegas (http://nnw.fm/9XLst). Operating under its new production license, PNTV's Green Leaf Farms Holdings, LLC (Green Leaf) subsidiary successfully produced and sold its first batch of rosin to a local dispensary, paid its taxes, and filed all necessary paperwork and fees in time to qualify for recreational cultivation and production licenses. These licenses will provide Green Leaf another revenue stream as soon as recreational marijuana can be distributed to Nevada dispensaries, estimated as soon as July 1, 2017.
Becoming a fully operational and compliant Nevada Medical Marijuana Establishment (MME) operator within the time frame set by the State of Nevada is a considerable corporate milestone that enables Green Leaf Farms to have a recreational license in the first round of issuances, and also qualifies the Company to apply for dispensaries licensing in 2018.
Nevada attracts 52 million visitors per year -- more than any other destination in the world -- and is projected to generate $1.8 billion to become the largest single recreational marijuana market worldwide by 2018. With its demonstrated and quick ability to comply with, and take advantage of, progressive Nevada state laws, Green Leaf is uniquely positioned to greatly benefit in this booming market.
"Qualifying for these licenses is what the company has been working to achieve for the last 3 years. The medicinal market provides great benefits for people in need of marijuana to assist in a number of medical symptoms. From a revenue standpoint, being one of a very small group of companies to be privileged to participate in the recreation market in a place like Las Vegas is truly a blessing for PNTV and all its shareholders," says PNTV CEO Mark Bradley. "I am really proud of our team, which worked so hard to push us over the top and only see good things to come in the future. It is exciting to be a part of this movement and emerging industry, and we want to thank everyone who has believed in us for so long and welcome everyone who has just joined our journey."
PNTV Director Brett H. Pojunis adds, "Mark (Bradley) has put everything he has into securing these licenses. I am very proud to have him as a business partner, as very few people have the resolution and determination to follow through with the obstacles we were facing. We have officially generated revenues in the marijuana industry and we are looking forward to building an empire."