NEW YORK, NY - (NewMediaWire) - October 29, 2015 - Healthnostics, Inc. (OTC PINK: HNSS) is pleased to provide this follow-on update to the Company's recent announcement regarding its new capital structure and plans. While evaluating market sectors and potential transactions, it became evident that the best option for the immediate future was continuing to focus on the burgeoning cannabis industry market due to the sector's explosive growth.
The cannabis market, which according to a report published by The ArcView Group, a cannabis industry investment and research firm, the totality of the legal marijuana market could have an overall worth of $11 billion annually by 2019. By contrast, sales in 2014 were estimated at $2.7 billion.
Healthnostics, Inc.'s first foray in the cannabis sector was the development and subsequent sale of BakedAmerican.com, a recreational cannabis consumer website. Now, after this successful project, the Company seeks broader opportunities for growth in the cannabis sector through acquisition, new business development and joint ventures that serve specific vertical markets within the cannabis industry.
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