Petrotech Oil and Gas Inc. announced plans to set up a subsidiary in Colorado and Washington to target the company's entry into the medical and recreational marijuana market in the US. The management company will specialize in managing the growers of legalized marijuana and hemp in the states where it is legal to grow. The company is acquiring warehouse facilities in Telluride, CO, and currently has six growers in Colorado and three in Washington, with plans for expansion.

The company has been able to acquire a Medical and Recreational License from the state of Colorado, and are in negotiations in leasing a warehouse in Tacoma, Washington and a dispensary in Telluride, CO. With the immense amount of interest in companies breaking into the medical marijuana market, analyst coverage has been initiated for Petrotech Oil and Gas.