PALM BEACH, Florida, March 15, 2018 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
As recent as 2017, 14 percent of the $190 million in hemp-derived CBD sales were registered by natural product retailers, according to Hemp Business Journal data. By 2022, those same retailers should account for 28 percent of the projected $646 million in hemp-derived CBD sales. Cannabidiol (CBD) Oil is now being used for a growing number of uses including as a pain and inflammation reliever, treating insomnia and anxiety while even joining the cancer fight with anti-proliferative and pro-apoptotic effects. The cannabis compound took center stage at Natural Products Expo West recently when the massive trade show hosted its first-ever CBD Summit. The goal, organizers said, was to provide a glimpse of the market potential for products made with the hemp-based extract. "This is the hottest product in the history of natural products, and there's an opportunity for retailers to really sink their teeth into this whole hemp category," Josh Hendrix, director of business development for Las Vegas-based extract company CV Sciences Inc., told some 500 people in attendance. A stream of doctors, lawyers, retailers and producers discussed how the non-psychoactive CBD - or, more specifically, "hemp-derived, full-spectrum phytocannabinoid" products - could contribute to a $140 billion industry focused on health-and-wellness products. They equated cannabinoids to the emergence of Vitamin C or fish oils, claiming untapped opportunities for members of the natural products industry to supply consumers' dietary, nutritional and wellness needs. Active in the cannabis industry include: PotNetwork Holding Inc. (OTC: POTN), American Cannabis Company, Inc. (OTC: AMMJ), Marijuana Company of America, Inc. (OTC: MCOA), Medical Marijuana, Inc. (OTC: MJNA), mCig, Inc. (OTC: MCIG)
PotNetwork Holding Inc. (OTC: POTN) BREAKING NEWS: PotNetwork Holding Inc Generates Over $2 Million in Sales Revenue for February 2018, a 480% Increase on Last Year - POTN announced today that its wholly owned subsidiary, Diamond CBD, Inc., has generated over 2 million dollars in sales for the month of February, surpassing last year's sales of $472,000 for the same interval, reflecting year-over-year growth, in the range of 480 percent.
The company also received interest from over 250 new wholesale distributors to represent the Diamond CBD brand at the 37th CHAMPS Trade Show on February 19-21, an event that yielded the company $270,000 in sales over 3 days.
Initiating coverage with a "Strong Speculative Buy" recommendation by Harbinger Research , Diamond CBD, has been highlighted in a recent comprehensive research report projecting a price per share target of $1.25. This recommendation substantiates the recently updated research report by SeeThruEquity, following strong monthly sales data and 3Q17 filings, where analyst projections were raised to $1.25 based on robust top line growth, and revenue already tracking above initial estimates. Read this and more news for POTN at: http://www.marketnewsupdates.com/news/potn.html
In other industry developments and market performances of note:
American Cannabis Company, Inc. (OTCQB: AMMJ), a full-service business-to-business consulting solutions provider, and seller of ancillary products to the cannabis industry, yesterday announced that its SoHum Living Soils® potting mix and Dr. Marijane Root Probiotic manufactured by Earth Alive Clean Technologies (CSE:EAC) are available for purchase on the Walmart, The Home Depot, and Amazon online store platforms. Terry Buffalo, CEO of American Cannabis Company, commented: "ACC is excited to have the opportunity to offer our products online through these major retailers.
Marijuana Company of America, Inc. (OTC: MCOA), an innovative hemp and cannabis corporation, recently announced the official launch of Convenient Hemp Mart, LLC's "Benihemp" branded CBD products at ASD Market Week, one of the largest business-to-business trade shows in the world. Convenient Hemp Mart has developed a collection of Benihemp branded, sample sized products for consumers including topicals, tinctures, and edibles packaged in 1-day, 2-day, and 30-day supplies. The target markets are convenience stores, smoke shops, gas stations and similar types of retail businesses where CBD commerce has a greater likelihood of generating sales from the impulse buyer at the register.
Medical Marijuana, Inc. (OTC: MJNA) yesterday announced that its subsidiary HempMeds® Brazil, which was the first company authorized by Anvisa to import a cannabidiol-based product to Brazil, is partnering with the National Association of Cannabidiol Users (ANUC) to host the Cannabidiol (CBD) Symposium from March 19-23 in Rio Grande do Sul, in the cities of Canoas, Passo Fundo and Porto Alegre. It is the first time that hospitals in Brazil have ever offered cannabis events to the medical community.
mCig, Inc. (OTCQB: MCIG), a leading distributor of innovative products, customized packaging solutions, technologies, and services for the global medical cannabis industry, this month announced that on February 26, 2018 FarmOn! Foundation was granted permission to conduct an Industrial Hemp Agricultural Research Pilot program through the New York State Department of Agriculture & Markets. The operation will be conducted through a joint venture between NYAcres, Inc., a subsidiary company of mCig, Inc., and FarmOn! Foundation. It is currently on schedule to organically plant its first industrial hemp seed on 40 acres immediately.
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