ONIT Sciences, Inc., today announced that it registered its flagship product ONIT Grow™ with the Nevada Department of Agriculture. Nevada Revised Statute (NRS) 588 requires that each brand and grade of commercial fertilizer or agricultural mineral be registered with the Department before being offered for sale, sold or distributed in the state. Nevada is one of nine states in the U.S. that permits both medical and recreational cannabis use.
“We have increasing demand for ONIT Grow™ in many areas of the country,” stated Gerry Martin, ONIT Sciences CEO. “As this demand reaches a critical mass, as it has in Nevada, we pursue registration with the state’s agriculture department, permitting us to enter that market. We believe Nevada will be particularly important to us, as the state permits growing industrial hemp, used in the production of CBD and other products, as well as the cultivation of THC-bearing cannabis by commercial growers and individuals.”
Cannabis sales in Nevada exceeded $340 million from January 1 through the end of April this year, yielding the state $55.53 million in taxes. According to a recent article in the Las Vegas Review Journal (https://www.reviewjournal.com/homes/resale-news/recreational-marijuana-industry-expected-to-grow-in-nevada/), one expert estimates that $860 million in real estate and capital expenditure have been invested in the marijuana industry to date in Nevada. The source expects well over $1 billion in real estate and capital expenditure with new investments coming in the future.
“Nevada is a hot market, and we aren’t shy about maximizing our reach with its growers, consultants and retailers,” noted Jeff Moses, CMO at ONIT. “This is simply a natural progression of our business plan. We get the word out. We get samples in the right hands, and the experts who test ONIT Grow™ love it. They become evangelists for our product. That’s what’s happening in Nevada right now, and we expect to continue executing on this winning strategy state by state.”