PALM BEACH, Florida, Oct. 8, 2019 /PRNewswire/ -- Industry reports all seem to agree on one thing: The cannabidiol (CBD) revolution will continue to rise. As consumers accept and even demand more CBD products, the future is projected to continue to rise in years to come. Statista has reported that it expects that U.S. consumer sales of CBD will reach around 1.8 billion U.S. dollars by 2022. That would be a massive increase from around half a billion dollars in 2018. Grandview, on the other hand said that 2018 global CBD revenues were 1.34 billion and that they are projected to expand at a CAGR of 32.6% through 2015. It seems that both the US and global markets are positioned to continue to thrive. Grandview added that: "Increasing awareness regarding health benefits pertaining to cannabidiol consumption is projected to foster the growth. High demand for cannabidiol in pharmaceutical formulations owing to its healing properties is anticipated to bode well for the market in near future. Active cannabis companies in the markets this week include Integrated Cannabis Company, Inc. (OTCQB: ICNAF) (CSE: ICAN), HEXO Corp. (NYSE: HEXO) (TSX: HEXO), Green Growth Brands Inc. (CSE: GGB) (OTCQB: GGBXF), Emerald Health Therapeutics, Inc. (TSX-V: EMH) (OTCQX: EMHTF), Ignite International Brands, Ltd. (CSE: BILZ) (OTCQX: BILZF).
"Growing hemp production along with rising demand for cannabidiol rich hemp biomass is projected to bolster the market growth. Increasing adoption of refined cannabidiol (CBD) products coupled with growing legalization of medical marijuana is expected to drive the product demand in extended run. CBD skin care products include moisturizers and creams, cleansers, serums, oils, and sunscreens. Anti-aging properties and effectiveness for all skin types, including sensitive and acne-prone skin, is anticipated to drive the demand for cannabidiol in skin care and cosmetic products."
Integrated Cannabis Company, Inc. (CSE:ICAN) (OTCQB:ICNAF) BREAKING NEWS: Integrated Cannabis Company, a multi-state brand operator in California and Nevada, is pleased to announce that its wholly-owned subsidiary, Ganja Gold, has launched the first cannabidiol (CBD) infused pre-roll in California. The novel pre-roll is designed for those who want the calming effects and benefits of CBD and is part of the iconic Tarantula family of pre rolls.
The October launch includes several high CBD strain SKUs such as: Harley-Tsu (indica dominant), AC/DC (sativa dominant), The Wife (Hybrid). Additional strains will be launched in the coming months. The CBD Tarantula is constructed with top-shelf greenhouse or indoor grown flower that is then coated with high CBD distillate and covered in golden kief.
"The Ganja Gold legacy brand is synonymous with a top shelf, connoisseur level experience amongst consumers. We are excited to be introducing our new line of CBD infused pre-rolls that are made to the same exacting standards that consumers are accustomed to from Ganja Gold, said Mr. Seth Wiles, President of Integrated Cannabis. "We did extensive R&D to make sure this was a product that would strike a chord with our existing customers, as well as expand our reach in the market. Our goal is to launch products that will allow more cannabis users to experience our amazing brand. We plan to launch the CBD Tarantula along with our full line of Tarantulas in Nevada from our manufacturing facility in Las Vegas in the very near future," added Mr.Wiles.
Other Companies with recent developments or to keep watch for in the cannabis industry include:
HEXO Corp. (NYSE: HEXO) (TSX: HEXO) recently announced that the company's Chief Financial Officer, Michael Monahan, has made the decision to resign, effective Monday. "Since joining HEXO Corp, it has become apparent that this job requires me to spend the majority of my time in Gatineau and in Ottawa. During this phase of rapid expansion, the Chief Financial Officer should be working very closely with all team members, in person. This isn't possible for me at this time given my family's needs and so I have decided to resign," said Mr Monahan. "I've had a very rewarding time at HEXO and I will continue to assist the company as a consultant to ensure a smooth transition."
Green Growth Brands Inc. (CSE: GGB) (OTCQB: GGBXF) recently announced that Jann Parish , Chief Marketing Officer, has been named to the Forbes CMO Next list. The list is comprised of 50 individuals who are leading the way as disruptive chief marketers. Through qualitative research tapping into the expertise of industry watchers as well as Forbes' editorial industry knowledge, the list features 50 people who have reached the highest-level marketing position within a given company and who are driving brand and business growth.
"I am honored and humbled to receive this recognition," said Jann Parish , CMO of Green Growth Brands. "I am thrilled to be applying my expertise to the cannabis and CBD industries. At Green Growth Brands, we look at this moment in time as an opportunity to reinvent the way consumers view and interact with products that have very complicated histories. For Forbes to be considering our industry as part of this award speaks to the progress we have already made."
Emerald Health Therapeutics, Inc. (TSX-V: EMH) (OTCQX: EMHTF) has received from Health Canada a license amendment for the complete growing and processing area in its 88,000 square foot indoor facility. The additional 50,000 square feet will allow Verdélite to expand production from 4 to 21 highly-controlled-environment grow rooms and to a total of 16 processing rooms. Planting in the newly licensed area is starting immediately, with the plan focused on having the expanded facility fully planted in eight weeks.
"Verdélite is now fully built and licensed across all its growing and processing areas, and I congratulate the team for this accomplishment," said Thierry Schmidt, President of Verdélite. "As we expand production of Emerald Health Therapeutics products sold under the Emerald sales license, this step enables us to also continue advancing our marketing strategy encompassing Verdélite brands and direct sales to provincial/territorial wholesalers and authorized Canadian private retailers."
Ignite International Brands, Ltd. (CSE: BILZ.CN) (OTCQX: BILZF) recently announced that it intends to complete a non-brokered private placement of convertible debenture units (the "Units") for up to C$50 million (the "Offering"), issuable in series (each, a "Series"). Each Unit is to be comprised of C$1,000 principal amount of unsecured senior convertible debentures (a "Convertible Debenture") accruing interest at 8.0% per annum, payable semi-annually in arrears until maturity, and 250 subordinate voting share purchase warrants of the Company (each, a "Warrant"). The Convertible Debentures will have a maturity date of 36 months from the date of issuance.
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