PALM BEACH, Florida, October 24, 2018 /PRNewswire/ --
Financialnewsmedia.com News Commentary
As the North America awakens to the benefits of consumer products made with cannabidiol or CBD, traditional natural products retailers are realizing the most success as sellers of these very popular products. Manufacturers and retailers competing in today's market where mainstream supermarkets are commanding an increasing market share of natural and organic product sales, the CBD consumer products market is representing a brand new growth category fueling an opportunity for retailers to distinguish their stores from the competition. CBD sales from products derived from hemp and cannabis are predicted to reach $1.153 billion and $1.812 billion, respectively. By 2020, more pharmaceutical companies also predicted to enter the market driving the mentioned numbers to change even more. Active Companies from around the market with current developments this week include: Pyramidion Technology Group, Inc. (OTC:PYTG), Terra Tech Corp. (OTC:TRTC), Therapix Biosciences Ltd. (NASDAQ:TRPX), KushCo Holdings, Inc. (OTC:KSHB), Canopy Growth Corporation (NYSE:CGC) (TSX:WEED).
Pyramidion Technology Group, Inc. (OTCPK:PYTG) BREAKING NEWS: Pyramidion Technology Group today announced the execution of the closing of the acquisition of NxGen Brands, LLC ("NxGen") of Denver, Colorado. PYTG officially owns NxGen operations, brands, marketplace and is currently now a subsidiary of Pyramidion Technology Group, Inc.
NxGen Brands, established CBD alternative medicine and natural nutraceutical products, owned, and is doing business as, LeafyWell (http://www.LeafyWell.com). PYTG's acquisition of NxGen Brands includes the acquisition of LeafyWell and there have been reports of significant additions to the company's advisory board to now include experienced medical professionals to serve active roles in shaping the company's direction and product lines.
LeafyWell (http://www.LeafyWell.com) produces a broad selection of Cannabidiol a (CBD) containing products such as tinctures, oils, creams and lotions, and edible gummy candies and seeks to expand its product lines. The advisory board for PYTG now includes members of the medical community representing a variety of specialty medical fields such as family medicine, cardiovascular medicine, as well as a recent addition of a Fellow of the American College of Surgeons (FACS), just to name a few.
CEO of PYTG, Carlos Hurtado, states "We are excited to announce to the public today the official closing of the acquisition of NxGen Brands, LLC and especially the acquisition of LeafyWell along with the CBD containing product lines. We feel that we are right on schedule with the acquisition with our letter of intent filed earlier this summer and our acquisition closing now in October. Everything looks to be lining up exactly as we set out."Read this and more news for PYTG at http://www.financialnewsmedia.com/news-pytg
In the industry developments and happenings in the market this week include:
Terra Tech Corp. (OTCQX:TRTC), a vertically integrated cannabis-focused agriculture company, has completed its previously announced sale of 100% of the assets of its cannabis dispensary located at 1921 Western Avenue in Las Vegas, to Exhale Brands Nevada, for a total consideration of $6,250,000. The Company plans to use the proceeds from the sale to further develop its retail dispensary capabilities in new locations that have better proximity to major tourist attractions in Las Vegas. The Company already has a strong footprint in Nevada.
FSD Pharma Inc. (OTCQB:FSDDF) (CSE:HUGE.CN) announced this week the signing of a binding letter of intent (the "LOI") to acquire Therapix Biosciences Ltd. (NASDAQ:TRPX) effective October 22, 2018 . The Transaction (the "Transaction") combines two highly-complementary businesses and creates a medical cannabis industry innovator focused on the research and development of advanced cannabinoid treatments. Therapix Biosciences shareholders will receive $48 million (USD) of FSD stock upon closing of the Transaction. The Transaction is structured at a fixed price of $48M USD ( $62.4M CAD), representing approximately 130 million class B subordinate shares of FSD Pharma and nearly 10% of the Company today. The final number of class B subordinated shares and percentage ownership of the Company will fluctuate based on the 20 day average of the FSD Pharma stock closing price on the date the Transaction is finalized.
KushCo Holdings, Inc. (OTCQB:KSHB), the parent company of innovative cannabis industry leaders such as Kush Supply Co., Kush Energy, The Hybrid Creative, and Koleto Packaging Solutions, which provide a range of services and products for the regulated cannabis, CBD and other related industries, this week announced that it has joined the Sustainable Packaging Coalition ("SPC"), a membership-based collaborative that is considered the leading voice on sustainable packaging solutions. As a member of the SPC, KushCo will collaborate with other companies in a variety of industries, each involved in developing and employing environmentally-friendly packaging solutions that fit each company's unique products and consumer demands.
Canopy Growth Corporation (NYSE:CGC) (TSX:WEED.TO) recently announced the launch of a new brand for the recreational market in Canada , LBS (pronounced "L-B-S"). The Company has established a curated and world-recognized family of brands, both in-house and through partnerships with icons in the cannabis space. LBS is the latest exciting addition to join the family. The LBS brand slogan -- "Worth Its Weight In Gold" -- is a reference to the care and quality put into the brand's products and also to its roots in California , the Golden State. The company name is also a nod to the shorthand for pounds. In addition to positioning itself as the gold standard in the cannabis industry, LBS will focus on embracing diversity and inclusiveness throughout all brand messaging and Company initiatives.
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