PALM BEACH, Florida, May 15, 2018 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
The CBD hemp-based sector of the Cannabis market continues to experience significant growth in terms of revenue as global demand for CBD-based products continues to rise at a staggering rate. Greenwave Advisors believes CBD sales in the United States alone will top $2.1 billion within the next two years. One of the factors influencing CBD's success and enhanced demand is the wide variety of ways in which it can be used in products, ranging from cosmetics to food/edibles and beverage to health supplements. The industry's success and the resulting demand across the nation for more CBD-based health products alone have helped give birth to a new industry that parallels the larger cannabis market. Additionally, the market is becoming increasingly global as US-based companies are seeing success abroad in other countries where the substance has recently been legalized. Active companies in the markets include: PotNetwork Holdings Inc. (OTC:POTN), Marijuana Company of America, Inc. (OTC:MCOA), mCig Inc. (OTC: MCIG), Maricann Group Inc. (OTC:MRRCF) (CSE:MARI), Medical Marijuana Inc. (OTC:MJNA).
PotNetwork Holdings Inc. (OTC:POTN) BREAKING NEWS: PotNetwork Holdingsis pleased to announce over $2 million in sales revenues recorded for the month of April. Compared with the $1,009,900 the company achieved in April of 2017, April 2018's revenues represent a 98% year over year increase.
PotNetwork Holdings, Inc.'s wholly owned subsidiary Diamond CBD, Inc. recently revealed that Diamond CBD's Vape Additive, Liquid Gold Vape Juice, Chill Gummies, Tinctures and Biotech Creams, are the brand's most successful products according to the 2018 Investor Relations FAQ, and are being sold in 1000's of retail locations across the United States.
According to the PotNetwork Holdings, Inc. 2018 Investor Relations FAQ, Diamond CBD's products are selling best in Texas, California, Florida, Georgia and New York. By virtue of Diamond CBD's success in the 4 most populous states in the country, and with close to 25% of its revenues coming from ecommerce, Diamond CBD emerges as market leader in the U.S. domestic hemp-derived CBD oil market.
As Diamond CBD diversifies the marketing of its products, entering new and underdeveloped sectors and verticals such as the pet supply industry, wellness centers, health food channels, and fitness centers, it's welcome news that U.S. and international legislators are looking with increasing approval at cannabis and hemp with a renewed focus.
In April of 2018, United States Senate Majority Leader Mitch McConnell (R-KY) introduced H.R.5485 the Hemp Farming Act of 2018, which if passed would remove federal Schedule I drug status, establishing the domestic federal legality of hemp-derived CBD oil products. Read this and more news for POTN at: http://www.marketnewsupdates.com/news/potn.html
In other industry developments and market performances of note:
Marijuana Company of America, Inc . (OTC:MCOA) and joint venture partner Global Hemp Group Inc. (CSE: GHG, OTC: GBHPF) are pleased to provide an update on their CBD hemp farming project in Scio, Oregon (the "Project"). Garden operations are well underway at the farm. The initial nursery and propagation rooms for clones have recently been expanded to an additional attached greenhouse as the team continues to produce clones for planting in the current season. In order to maximize planting density, an additional 20,000 high yielding CBD hemp clones are being purchased and will be delivered before the end of May to meet the targeted planting schedule of early June.
Five additional greenhouses have now been purchased for the project. The first two 30ft. x 120ft greenhouses are currently being installed and will provide an additional 7,200 sq. ft. of greenhouse space for the project. The three remaining 42ft x 96ft greenhouses will begin installation before the end of May. When installed, these additional greenhouses will increase greenhouse space by a further 12,096 sq. ft., for a total of 19,296 active greenhouse space.
The team will be planting the clones on the first 35 acres at the farm. They will be planted "orchard style", 4 to 5 feet on center, with rows 5 feet apart to provide space for each plant to receive sufficient sunlight, water and nutrients, and mature to maximum size to produce the highest CBD yield possible upon harvest.
The Scio farm will employ both traditional outdoor orchard style cultivation and perpetual harvest in greenhouses. The Partners are currently evaluating additional greenhouse technologies for expansion of indoor cultivation space to augment its perpetual harvest model square footage. This dual strategy will optimize revenue generation throughout the year to minimize the impact of single crop harvesting in October when most other hemp CBD farms harvest and typically drive prices down. Read the entire press release at: https://finance.yahoo.com/quote/MCOA/press-releases?p=MCOA
mCig Inc. (OTC: MCIG) recently announced that it has officially been awarded three licenses from California City, California, for recreational cannabis cultivation, statewide distribution, and manufacturing. The extremely competitive licensing procedure of California City took in over 300 applications, awarding only 16 licenses at this time, 3 of which belong to MCIG. The property will be developed into a state-of-the-art 30,000 square foot "Smart Greenhouse" cultivation facility by the company's construction subsidiary, Grow Contractors, Inc. In addition, it has been planned out to have a 2,000 square foot manufacturing facility to create extracts, and a small distribution center that will be used to move products to retailers. This facility is projected, when fully operating, to generate approximately $20M in annual income.
Maricann Group Inc. (OTCQB:MRRCF) (CSE:MARI.CN) closed Monday up .66% with over 119,000 shares traded on the day. Last week, the company announced it has completed the acquisition of all outstanding shares of Haxxon AG ("Haxxon"). The acquisition of Haxxon forms a critical element of the Company's European expansion strategy. Maricann is now positioned to enter the Swiss market through Haxxon's production of feminized high CBD cannabis plants. Haxxon operates within a 6,000 sq. m. (~64,500 sq. ft.) indoor facility in Regensdorf, Switzerland; an industrial suburb of Zurich, located less than 10 minutes from the airport. "A phenomenon has occurred in Switzerland, where people are substituting or modifying tobacco consumption with low THC cannabis (less than 1% THC). We are executing our strategy with the goal of becoming a meaningful leader in this category, in Switzerland and across Europe. Normal distribution of cannabis products in retail outlets across Switzerland gives us an opportunity to bring an elevated standard of product to the market, thereby enhancing the consumer's experience of cannabis." Commented Ben Ward, CEO of Maricann.
Medical Marijuana Inc. (OTC:MJNA) recently announced its subsidiary HempMeds has partnered with Northshore Pharmacy to sell its Real Scientific Hemp Oil™ (RSHO™) CBD oil as a non-prescription product in Bermuda. "Our international expansion isn't over until we're able to sell our cannabidiol (CBD) products in every country around the world," said Medical Marijuana, Inc. CEO Dr. Stuart Titus. "We feel very fortunate to partner with this prestigious pharmacy to help expand CBD access throughout Bermuda." Northshore Pharmacy is owned by the husband and wife team of Jonathan and Jennie Lightbourne. The pharmacy is situated within the Northshore Medical & Aesthetics Center, which was created to help the people of Bermuda improve their physical, visual, mental and sexual health with top health service offerings and physicians.
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