Future Oil Predictions Drive Cannabis Stocks Higher

CORAL GABLES, FL / ACCESSWIRE / July 22, 2015 / The oil guru who projected last year’s drought said $100 a barrel of crude is more than likely to return within five years as uncertain supply fails to meet the demand. The founder of PIRA Energy Group, Gary Ross says oil markets aren’t as oversupplied as people think and additional capacity is tight since Saudi Arabia is producing all the crude it can without new drilling. “Current prices are unsustainable,” he stated Monday in an interview in London. “It’s hard not to see oil hitting $100 a barrel at some point in the next five years.” This has seemingly boosted confidence in other speculative markets specifically with marijuana stocks. mCig Inc. (OTC: MCIG), FBEC Worldwide Inc. (OTC: FBEC) and Pharmacyte Biotech, Inc. (OTC: PMCB) have all continued to see increased trading activity amidst what have typically been slower summer months.

Cig Inc., a leading provider of technology, products, and services for all aspects of the global medical and legal recreational cannabis industry recently announced the company will launch the first-ever Ultimate Cannabis Innovation Awards. The awards will take place October 17th 2015, and it will consist of a contest to recognize the most innovative and exciting products, services and entrepreneurial talent in the cannabis industry. “In the past five months as we’ve been restructuring the management and operations at mCig, we also realized that with so many exciting new products and services being developed, we didn’t need to spend our resources on research and development,” stated by Paul Rosenberg, CEO of the company. Since last week MCIG has seen price increases by as much as 16% from lows of $0.0507 to highs of $0.059. The stock closed Tuesday at $0.0536.

FBEC Worldwide Inc. an innovator in the H.E.M.P beverage industry is set to launch its signature WolfShot H.E.M.P. Energy on August 1st of this year. The company recently announced it would begin the process of up listing to the OTCQB. According to the Company this is anticipated to take place within 30 days from the application submission. Robert Sand, CEO and Chairman of FBEC Worldwide, Inc., states, “Issuers on the OTCQB enhance the market makers in being able to choose the full service, one stop shopping of the OTC Markets and to quote the stock of over the counter trading Issuers.” FBEC has seen trading levels between $0.083-$0.1199 during the last week.

Pharmacyte Biotech Inc., a biotech company that is currently developing what looks to be a successful pancreatic cancer treatment announced on Tuesday that they have added Dr. Manuel Hidalgo to the company’s Scientific Advisory Board. Dr. Hidalgo is one of Europe’s leading clinical and laboratory investigators in the field of pancreatic cancer. Dr. Hidalgo comes from a long and experienced history in the medical practice regarding pancreatic cancer. Dr. Hidalgo is a co-founder and Chairman of the international Pancreatic Cancer Research Team and works with co-founder Dr. Daniel Von Hoff, who also serves as the Chief Development Officer of Translational Drug Development. PMCB over the last month has seen a decline in price by 27% coming down from as high as $0.13 to as low as $0.095.

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