PALM BEACH, Florida, August 15, 2018 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
The Cannabidiol (CBD) market has arguably been cannabis' best success to date, as CBD-based products continue to work their way into society in a variety of forms, ranging from health and beauty products to pet applications. The growth is expected to continue at a high rate, as data by Statista illustrates consumer sales of CBD will approach $2 billion in the United States alone over the next four years. Factors driving this growth will continue to be a turn of the tide in terms of consumers' opinions and beliefs about the cannabis-derived substance, as well as the increasing number of ways CBD can be applied. Additionally, the common thread of subdued anxiety and inflammation from CBD use will continue to drive market growth as well. Active companies in the Cannabis markets this week include Cannabis Strategic Ventures, Inc. (OTC:NUGS), CV Sciences, Inc. (OTC:CVSI), Terra Tech Corp. (OTC:TRTC), Chineseinvestors.com Inc. (OTC:CIIX), Cronos Group Inc. (NASDAQ:CRON) (TSX:CRON).
Cannabis Strategic Ventures, Inc. (OTCPK:NUGS) BREAKING NEWS: Cannabis Strategic Ventures is pleased to announce the completion of the financial audits for fiscal years 2016 and 2017. The Company is now in the process of preparing full financial reports and completing its financial audit for the year ended March 31, 2018, in preparation for moving NUGS to fully reporting status with the Security and Exchange Commission (SEC).
"Our team has made significant progress over the past few quarters, having signed several important strategic and tactical business arrangements relating to some of the fastest growing areas of the cannabis business sectors. While building on our business portfolio is very important to us, bringing the Company up to fully reporting status and up listing to a higher OTC Markets tier is also a top priority. We believe it is important to provide the reliable and transparent information to our shareholders. With these audits now behind us, we have taken critical steps toward this goal. We expect to also soon report the completion of the audit for our recently closed fiscal year and the filing of related financial reports," commented Simon Yu, CEO of Cannabis Strategic Ventures .
The Company operates on a March 31st fiscal year-end; thus the 2016, 2017 and 2018 fiscal years ended on March 31, 2016, March 31, 2017, and March 31, 2018, respectively. Read this and more news for Cannabis Strategic Ventures at: http://www.marketnewsupdates.com/news/nugs.html
Other recent developments in the cannabis industry include:
Chineseinvestors.com Inc. (OTCQB:CIIX) recently announced that its wholly owned subsidiary, ChineseHempOil.com, Inc. will hold a seminar at its flagship retail store, Chinese Wellness Center, located at 227 West Valley Blvd. #208-B in San Gabriel, CA., covering 'The Health Benefits of Hemp Oil', featuring Chinese Medicine Practitioner Amin Wang. ChineseHempOil.com, Inc., a wholly owned subsidiary of ChineseInvestors.com, Inc., is responsible for the online and retail sales of hemp-based health products in the United States and has been building awareness for its 'Opt Hemp' brand among Chinese consumers in the U.S. since its establishment in April 2017. In June 2017, the Company officially opened its first retail location known as Chinese Wellness Center and launched its website http://www.chinesehempoil.com . Chinese Wellness Center is located in the predominantly Chinese community of San Gabriel, California, directly adjacent to the Company's headquarters. In July 2017, the Company established a club-style Hemp Education Center to provide community-centered education and outreach about the potential benefits of hemp, which has roots in ancient Chinese medicine, and hemp-derived CBD, which is believed by many to have positive balancing effects on the mind and body.
Cronos Group Inc. (NASDAQ:CRON) (TSX:CRON.TO) last week announced that it has entered into a supply agreement with one of the largest cannabis companies in the world by revenue in the first quarter of 2018, Cura Select Canada, Ltd. ("Cura"). Cura is on a mission to be the leading provider of premium cannabis oil and hemp oil to the legal U.S. and international markets, and will enter the Canadian market to supply domestic and international channels through this agreement. Cura is widely respected in the industry for the methodology and innovation of its extraction techniques and its focus on setting standards for quality products across the industry. Cura has pioneered a highly refined system that fulfills a scalability and quality need unique to a company of this size, with an ability to produce one million grams of oil per month at each of its facilities. The company is known for its Select Oil and Select CBD brands and offers a variety of white label products with emerging regionally-based and celebrity brands. Cura believes that the ongoing legalization of cannabis embodies an emerging world where everything is possible, and attributes much of its success to its world-class team of experts. It has expanded from a small group of loyal employees in 2015, to a team of more than 350 across four U.S. states and now Canada. The company's growth continues along with its brand Select, which has held its place as the best-selling cannabis brand on the West Coast since October 2017 (WA/OR/CA, according to BDS Analytics).
CV Sciences Inc. (OTCQB:CVSI) recently announced the appointment of Joseph Maroon, MD, FACS ("Dr. Maroon"), to its Board of Directors. Dr. Maroon is a clinical professor and vice chairman of the Department of Neurological Surgery and the Heindl Scholar in Neuroscience at the University of Pittsburgh Medical Center (UPMC) and has held other positions at UPMC since 1998. He is a world-renowned neurosurgeon, and he brings his expertise in health, nutrition and wellness to expand the depth of medical and biotech leadership on the board. Dr. Maroon was previously a member of the Board of Directors and Chairman of the Scientific Committee of Mylan from 2005 to 2017. CV Sciences' Chief Executive Officer, Joseph Dowling commented, "We are pleased to have the support of Dr. Maroon as we continue the expansion and distribution of our hemp cannabidiol (CBD) brand, PlusCBD Oil™, and progress our drug development efforts. His extensive background as an expert in the field of health and wellness speaks volumes to his belief in the study of CBD as both a dietary supplement and pharmaceutical drug. Dr. Maroon's vision in alternative medicine is clearly aligned with our Company, and we are delighted to be adding his talents to our Board of Directors. His appointment also satisfies the listing requirements for an independent board majority and advances our plans for a Nasdaq uplisting."
Terra Tech Corp. (OTCQX:TRTC) recently announced that it has partnered with the Valiente Group, a beverage production company that specializes in cannabis infusion, to produce a line of cannabis-infused beverages under the IVXX brand. The Company, through the partnership, is currently developing a range of non-alcoholic, cannabis-infused beverages, including 'champagne', 'apple cider', lemonade 'margarita' mix, zero calorie lemon lime soda and cherry lime sparkling water. The infusion technology will be powered by SORSE branded technology, a product of Tarukino Holdings, a patent pending Emulsion process which leaves beverages without oily residues and without cannabis flavor. The Company is simultaneously developing a single shot flavorless, odorless 5 milligram and 10 milligram shot that can be added to any beverage or craft cocktail for at-home infusion. Additionally, the Company is building-out a large-scale production and bottling facility at its Dyer Road facility located in Santa Ana, California, for distribution within the California Market.
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