PALM BEACH, Florida, June 5, 2018 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
The active medicinal cannabis industry has been headlined by the advancements of cannabidiol (CBD), an extract of the substance that can be used for a variety of medical applications. Many people use CBD based treatments to relieve the pain while it has been used for thousands of years and it has its wide range of advantages in the medical community. Among several cannabinoid constituents, THC and CBD are considered to be the important cannabinoids that act hand-in-hand to treat various illnesses. According to a report by Forbes, the medical CBD market is projected to grow to $2.1 billion by 2020. This growth is being advanced by the increased legalization of medicinal cannabis and societal acceptance, with a major development occurring this spring when the FDA committee announced it was recommending a cannabis-based drug to treat epilepsy. The mental benefit as it relates to the preservation of brain health has been widely documented and leaders in the space are aiming to continuing to improve these solutions through enhanced CBD-based medications. Active Companies from around the market with current developments this week include: Marijuana Company of America, Inc. (OTC: MCOA), mCig Inc. (OTC: MCIG), Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON), PotNetwork Holding Inc. (OTC: POTN), Medical Marijuana Inc. (OTC: MJNA).
Marijuana Company of America, Inc. (OTC: MCOA), an innovative hemp and cannabis corporation, is pleased to announce that the Company's hempSMART™ brand has relaunched its flagship wellness product hempSMART™ Brain with 10mg of Cannabidiol (CBD) oil per serving.
hempSMART Brain has been relaunched and redesigned with an improved formulation that includes 300mg per bottle of Full Spectrum, non-psychoactive, water soluble CBD oil per serving and contains a botanical blend of all-natural plant-based ingredients such as Ashwaganda, Fulvic Acid, Rhodiola Rosea Extract, Bacopa, L-Theanine, Green Tea Extract, and Huperzia Serrata.
hempSMART Brain has been developed to maintain mental clarity, alertness, focus and concentration as well as promote relaxation, restorative sleep, and support the repair and regeneration of brain cells, better known as neurogenesis. This unique formula promises to revolutionize the safe, effective, and natural optimization of brain wellness.
MCOA's CEO Donald Steinberg stated, "After reviewing our hempSMART Brain product, our formulators chose to improve upon the original product by doubling the original dosage of CBD. Our team is proud to be able to welcome our flagship product back onto the market and look forward to the upcoming marketing campaigns.". Read this and more news for MCOA at http://www.marketnewsupdates.com/news/mcoa.html
In the industry developments and happenings in the market this week include:
mCig Inc. (OTC: MCIG) recently announced it closed escrow on the purchase of a 2.5 acre parcel in California City, CA. MCIG's agriculture division, with its Hemp farms in New York, will soon expand from sea-to-sea with cultivating, extracting, and distribution operations in both New York and California. MCIG has begun the planning of an indoor cultivation facility to produce high quality, "California-Style" cannabis products after receiving three of the seven recreational cannabis licenses granted by California City allowing cultivation, manufacturing, and distribution. Located half way between the Los Angeles and Sequoia National Forests, the property is ideal for growing and cultivation. The property is enhanced with ready accessible essential utilities, such as high power and city water, shortening the development and construction time. "This property will be a one-stop-shop for all things cannabis in California City. We are going to create a lean manufacturing facility for vertically integrated cannabis operations," says Robert Kressa, MCIG's construction and development CEO.
Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON.TO) closed up at $7.00 on Monday with over 6.1 million shares traded by the market close. Cronos Group is a globally diversified and vertically integrated cannabis company with a presence across four continents. The Company operates two wholly-owned Canadian licensed producers regulated under Health Canada's Access to Cannabis for Medical Purposes Regulations: Peace Naturals Project Inc., which was the first non-incumbent medical cannabis license granted by Health Canada, and Original BC Ltd., which is based in the Okanagan Valley, British Columbia. The Company has multiple international production and distribution platforms including in Germany , Israel and Australia . The Company intends to continue to rapidly expand its global footprint as it focuses on building an international iconic brand portfolio and develop disruptive intellectual property. Cronos Group is committed to building industry leading companies that transform the perception of cannabis and responsibly elevate the consumer experience.
PotNetwork Holding Inc. (OTC: POTN) recently announced that its wholly owned subsidiary, Diamond CBD, Inc., has rapidly expanded its MediPets product line, a top quality wide spectrum of healthy dietary treats for pets, formulated to support the health and wellness of cats and dogs everywhere. In addition to organically grown hemp-based CBD, these pet treats contain a variety of other nutritious ingredients, blended to appeal to, and improve, a cat's or dog's quality of life. Having an endocannabinoid system very similar to that of humans, animals also have cannabinoid receptors throughout their bodies. Whether a pet is healthy or suffering from ailment, Diamond CBD pet treats are formulated to contribute to help optimize canine or feline health. Diamond CBD, Inc., recently spent a highly advantageous week at the 2018 Global Pet Expo in Orlando, Florida, where it garnered interest from over 200 wholesale distributors well positioned to carry the brand's groundbreaking MediPets product line. Diamond CBD offers pet retailers a unique opportunity to participant in this growing trend identified and forecasted by leading research firms. As a result, wholesale distributors around the world are gaining increased familiarity with Diamond CBD, Inc.'s products and the Company's innovative approach to treating health and wellness in humans, and, now in animals.
Medical Marijuana Inc. (OTC: MJNA) recently announced it applauds the United Nations World Health Organization's Expert Committee on Drug Dependence (ECDD) for focusing its 40th Annual Meeting on reviewing cannabis and cannabis-related substances next week. In November 2017, Medical Marijuana, Inc. subsidiary HempMeds® President, Latin America Raul Elizalde spoke at the 39th Expert Committee on Drug Dependence meeting where he spoke about the therapeutic benefits of cannabidiol (CBD) and shared his story about how CBD helped his daughter Grace become seizure-free. "We're very excited for the World Health Organization and United Nations to make a final recommendation on CBD products after the findings revealed during this meeting," said Medical Marijuana, Inc. CEO Dr. Stuart Titus. "Though the WHO declared that initial evidence from human and animal studies 'shows that its use could have some therapeutic benefits', which is a very important distinction, we're optimistic that the WHO will soon declare that CBD should not be scheduled as a drug."
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