BOULDER, Colo., May 23, 2017 (GLOBE NEWSWIRE) -- UMF Group Inc. (OTC Pink:UMFG) (“the Company”) is pleased to provide a corporate update exemplifying a change in the direction of the business from Oil and Gas Exploration to Medical Marijuana. UMF Group Inc. would like to welcome Nicole Merion, Director of Business Development, to the company. Nicole Merion brings a wealth of scientific knowledge and contacts at the highest levels of academia and production, facilitating UMF Group Inc.’s vision of operating at the cutting edge of technology and research. She also brings a history of production and development to the company and has been working in the Cannabis field for the past ten years.
The company has shifted to an innovative Medical Marijuana company, which aims to develop and approve proprietary extracts as pharmaceuticals, and to ultimately deliver to the market pharmaceuticals that are highly differentiated both from medical marijuana and from current cannabinoid drugs. UMF Group Inc. maintains a proprietary “whole plant” method of extracting various cannabinoids from the marijuana plant and converting them into higher quality and quantity.
Several important events have led to the opportunity of a lifetime for Cannabis Cultivators and Industry Innovators. UMF Group Inc. is poised to make significant strides in the years to come. The US medical cannabis market generated $6.7 billion in sales in 2016, with sales expected to grow to $21.8 billion by 2020. Due to the rapidly changing American situation, with recent favorable legislative changes, in the US, medical cannabis is now legal in 28 states.
The opportunity for market capitalization is not limited to America. Global legal cannabis markets are expected to grow to $140.5 billion in 2020 from $28.8 billion in 2015 according to global market firm Technavio. The Medical Marijuana industry is about to go global and UMF Group Inc. is positioned to be a market leader.
FORWARD LOOKING STATEMENT
This news release includes forward-looking statements that reflect UMF Group Inc. current expectations about its future results, performance, prospects and opportunities UMF Group Inc. has tried to identify these forward-looking statements by using words and phrases such as "may", "will", "expects", "anticipates", "believes", "intends", "estimates", "should", "typical", "we are confident" or similar expressions. These forward-looking statements are based on information currently available to UMF Group Inc. and are subject to a number of risks, uncertainties and other factors that could cause the Company's actual results, performance, prospects of opportunities in the remainder of 2017 and beyond, to differ materially from those expressed in, or implied by, these forward-looking statements.
CONTACT: UMF Group Inc. Sean Ross, 360-232-6062 seanross@umfgroupinc.com
