PALM BEACH, Florida, May 1, 2019 /PRNewswire/ -- A recent article titled "CBD Market Could Pull In $16 Billion By 2025, Says Study" ran on FORBES website discussing a renowned Wall Street investment bank's view of the future revenues for the CBD market. It said: "… New York-based investment bank Cowen & Co. released a study on the CBD (cannabidiol) market. Of the findings, one of the most intriguing was that nearly 7 percent of the 2,500 polled, said they had used CBD, an active ingredient in marijuana that purportedly provides relief to patients without getting them high, as a supplement. This figure was far higher than what the Cowen analysts had expected. Yet even more fascinating was the projected estimate Cowen analysts made about the revenue of this market--$16 billion by 2025. This number is a marked jump from the estimated retail sales of CBD consumer products in 2018 that ranged between $600 million and $2 billion. Although CBD is technically legal as a result of the Farm Bill that passed late last year, the legal marijuana economy is still fragmented as a result of the federal illegality. Currently, 33 states and Washington, D.C. have legal medical markets while 10 states (plus D.C.) permit recreational use." Active companies in the Cannabis market this week include Cannabis Strategic Ventures, Inc. (OTC:NUGS), Terra Tech Corp. (OTCQX: TRTC), Aphria Inc. (TSX: APHA) (NYSE: APHA), MariMed Inc. (OTCQB: MRMD), CV Sciences, Inc. (OTCQB: CVSI).
The Forbes article continued: "In addition to the study's conclusion that nearly 7 percent of respondents had used CBD—Azer said she didn't realize that many people tried or used a CBD product—she was surprised by yet another finding: Close to 20 percent of those surveyed said they had sampled a CBD product in beverage form. Interestingly, the study skewed toward the younger generation. The rate of usage for those under 35 was over 9 percent while for those in the 45-55 age bracket, it was 6.4 percent. For people ages 55 and above, the number was 3.7 percent.
Cannabis Strategic Ventures, Inc. (OTCPK:NUGS) BREAKING NEWS: Cannabis Strategic Ventures today announces its expansion into the cannabidiol (CBD) retail space through 'FLORAH,' the newest addition to the Company's operational and investment portfolio. FLORAH is a concept boutique that educates consumers of the benefits of CBD while a curating a best of selection of CBD lifestyle, wellness, beauty and pet products. The company's flagship location is on Melrose Ave in West Hollywood.
"Growth of the CBD retail sector is accelerating and we expect to show leadership in the space," said Simon Yu, CEO, Cannabis Strategic Ventures. "Now that we have secured financing and a retail location, we will diligently work to procure the best CBD products available and prepare for our full brand roll-out and summer grand opening."
The retail market for CBD products is expected to reach $16 billion by 2015, a significant increase from an estimated $2 billion last year, according to leading cannabis investment bank Cowen Inc. Leading categories of this growth are nutraceuticals, tinctures, pain relieving creams and beauty treatments. Perhaps most compelling is that nearly 7% of the 2,500 individuals polled in Cowen's research indicated they had already purchased products containing CBD; an even larger percentage expect to purchase products in this class.
Amid this market growth, entering the CBD retail sector will be a strong addition to Cannabis Strategic Ventures' portfolio, which includes Asher House Wellness Pet CBD products; Fitamins, a proprietary health and wellness formula containing 25 mg of hemp-derived THC-free CBD; LYXR, a line of luxury skincare products derived from hemp CBD and other dynamic ingredients; PureOrganix, a line of high-quality organic cannabis concentrates; and Bud Hire, a staffing firm that allows cannabis entrepreneurs to outsource administrative and staffing functions.
"While major CBD retailers have already announced plans to carry some of the products we currently do or intend to market, we believe CBD-centric retailers that provide educational component around CBD products will do exceptionally well. We plan to announce our full strategy to compete in this arena in the near future," added Yu. Read this and more news for Cannabis Strategic Ventures at: https://www.financialnewsmedia.com/news-nugs
Other recent developments and major influences in the cannabis industry include:Aphria Inc.
(NYSE: APHA) (TSX: APHA) recently announced that the previously announced take-over bid (the "Offer") by Green Growth Brands Inc. ("GGB") has failed to meet the statutory minimum tender condition and has now expired and is terminated. As previously announced on April 15, 2019, the Company entered into a definitive agreement with GGB to accelerate the expiry date of the Offer to April 25, 2019, as well as to terminate certain arrangements with GA Opportunities Corp. ("GAOC") for consideration of $89.0 million payable on future dates as set out in the April 15th press release.
Irwin D. Simin, Aphria's Chairman and Interim Chief Executive Officer stated, "We are pleased to have this resolved in a favourable manner. We continue to move forward, creating long-term shareholder value by leveraging our production expansion, industrial scale cultivation and automation, brand positioning and our strategic global expansion initiatives that, as mentioned before, will be additionally supported by the $89.0 million in proceeds from the transaction."
CV Sciences, Inc. (OTCQB: CVSI) recently announced that it will release financial results for its first quarter 2019 ended March 31, 2019, after the stock market closes on Wednesday, May 8, 2019. The Company will hold a conference call with the investment community at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time) that same day. The webcast of the conference call will be available on the Investor Relations section of the Company's website at https://ir.cvsciences.com/news-events and at http://public.viavid.com/index.php?id=134448. The webcast will be archived for approximately 30 days.
Investors interested in participating in the live call can also dial (877) 407-0784 from the U.S. or international callers can dial (201) 689-8560.
MariMed Inc. (OTCQB: MRMD) a major US. hemp and cannabis operator, recently announced that it plans to buy 70% of MediTaurus stake and the transaction will be handled by its MariMed Hemp subsidiary.
MediTaurus holds numerous intellectual property patents for cannabis formulations and it also owns the Florance CBD health brand. The latter has a robust network of pharmacies, wholesalers, online distributors and physicians in the EU and the U.S. MariMed will become the major shareholder in MediTaurus once the transaction is complete. The companies did not reveal the terms of the acquisition deal.
Terra Tech Corp. (OTCQX: TRTC) a vertically integrated cannabis-focused agriculture company, recently announced it has secured a permit to manufacture cannabis for the adult use market at its 15,000 square foot extraction facility in Reno, which is 50% owned by NuLeaf, from the State of Nevada.
Terra Tech commenced IVXX® production activities for the medical market at its Reno, Nevada facility, co-owned by NuLeaf, in the late in the third quarter of 2018. Securing this permit allows it to further increase supply of its proprietary IVXX wholesale brand to meet the significant demand for cannabis products from adult users throughout Nevada.
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