Hollister Biosciences Inc. (CSE: HOLL) (OTC: HSTRF) (FRANKFURT: HOB) (the “Company“, “Hollister Cannabis Co.” or “Hollister“) a diversified cannabis branding company with products in over 280 dispensaries throughout California, and over 80 dispensaries throughout Arizona provides comment on the successful passage of Proposition 207 – legalizing the cultivation, sale and consumption of recreational cannabis in the state of Arizona.
“Seeing recreational Cannabis legalized in the state is an encouraging sign and is hopefully another step toward federal legalization. It should lead to increased tax revenue and job creation. The recreational cannabis market in Arizona could be valued at up to US $760 million by 20241, significantly expanding the total addressable market for Cannabis in the state. We look forward to making our product line available to both the medical and recreational end user.” Shared Jacob Cohen, Founder of Venom Extracts, Hollister’s 100% owned subsidiary based in Arizona.
Hollister, through its 100% owned subsidiary, Venom Extracts (“Venom“), is one of Arizona’s premier extract brands and one of the state’s largest producers of award-winning medical cannabis distillate and related products. With an experienced management team and unparalleled reputation for quality, Venom prides itself as a differentiated extraction company by producing legal cannabis products at a price point that allows retailers to generate higher profits. Focused on proprietary efficiencies, Venom is able to produce more product per square foot than its competition, maintaining lower costs and risks than a typical extraction company.