Boston, MA 03/07/2014 (wallstreetpr) – The Marijuana retail space has gained a lot of prominence and several companies like Northsight Capital, Inc. (OTCBB:NCAP) are trying for a breakthrough. The space has started looking up as use of marijuana for medical and recreational purposes no longer attracts criminal proceedings in 20 states and one district.
The Marijuana tangle:
Marijuana has been legalized in 20 states and one district in the U.S. It could be purchased for recreational and medical uses. However, federal laws played the spoilsport as buyers and sellers could face criminal charges under federal laws. These laws have now been watered down so that users will not be penalized. Only persons who indulge in illegal activities like smuggling, black marketing and money laundering will be prosecuted. As a result, many companies like Northsight Capital, Inc. (OTCBB:NCAP) are rushing to capitalize the opportunity.
Northsight’s monetization efforts:
Other companies are rushing in to set up their own supply chains and retail stores. Several companies are in the process of setting up their own units. There exists a need to provide information about the various suppliers, manufacturers and sellers as well as provide a platform to connect the sellers with the buyers. Northsight has latched on this need. Yellow pages provide a wealth of information about the various services and companies. With the emergence of internet as primary source of information, yellow pages are hosted over the net. Safe Communications Inc and its 80% subsidiary, Northsight Capital, Inc. (OTCBB:NCAP) have entered into non-binding agreement to purchase approximately 7,000 domains associated with marijuana, hemp and cannabis. This is the primary stage in creating a online yellow pages directory. Northsight is expected to change its name to The Marijuana Advertising Group and take control of these domains. The seller, who has not yet been named, will be getting Northsight’s 80% stake. Out of the balance 20%, Safe Communications will keep 10%, while the balance 10% will be given to other shareholders.
Northsight Capital, Inc. (OTCBB:NCAP) has about 12.5 million shares outstanding.
