MarijuanaStocks Exclusive: $DIGP Offers Insider Observations on the State of Nevada’s Medical Cannabis Industry
DigiPath Labs—a subsidiary of DigiPath, Inc. (OTCQB: DIGP)—recently published a look back at the first year of Nevada’s legal medical cannabis industry. In 2015, Nevada went from only allowing patients to grow their own medicine to implementing a fully licensed growing, testing, and dispensing industry with the strictest safety standards in the nation. As an industry gatekeeper,DigiPath Labs has seen how quickly the industry adapted to the new regulations, and predicts that future growth will be exponential.
“The changes we’ve seen in just the first year of the legal cannabis industry in Nevada have been immense,” says DigiPath Labs CEO Todd Denkin. “We fully expect 2016 to be a big year for medical cannabis cultivation, production, and sales and for Nevada to pave the way for the rest of the country when it comes to cannabis testing for potency and safety.”
Since opening in May, DigiPath Labs has tested more than 240 cannabis flower samples, representing over 1,200 pounds of cured flower, from 7 different cultivators supplying only a handful of dispensaries. As of this week, that there are 16 fully licensed cultivators and 7 dispensaries open, with 55 provisional dispensary licenses and 117 cultivators queued up, according to the company.
DigiPath Labs has been at the forefront of the movement demanding increased accountability and safety in the medical cannabis industry, and it has already seen a seismic shift in the quality of the materials brought to the lab for testing. With the first batch of patient-grown medicine, 60 percent failed to meet requirements for pesticide residue or other microbial contamination. But since state-licensed grow facilities have begun production; the failure rate has fallen to around 5 percent.
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