Financialnewsmedia.com News Commentary
PALM BEACH, Florida, June 6, 2019 /PRNewswire/ -- According to a recent industry article published this year, Jefferies analysts, after initiating coverage on the cannabis markets, followed up with additional coverage specific to the CBD industry and in particular CBD beauty products. The article suggests Jefferies believes the CBD beauty market could reach $25 Billion globally in the next 10 years and could even amass 15 percent of the total skincare market. The incredible potential of the CBD beauty market is thought to be enormous, given the possibility that many products could be sold over the counter and without the need for a prescription, clearly allowing consumers access to the products easily. CBD beauty products have quickly become all the rage now that industry analysts estimate it could be an entirely separate category from both recreational and medical marijuana. That's opening a wide range of opportunity for companies including The Yield Growth Corp. (CSE:BOSS) (OTC:BOSQF), Green Growth Brands Inc. (CSE:GGB) (OTC:GGBXF), Aleafia Health (TSX-V:ALEF) (OTC:ALEAF), Curaleaf Holdings Inc. (CSE:CURA) (OTC:CURLF), and Westleaf Inc. (TSX-V:WL) (OTC:WSLFF).
The Yield Growth Corp. (CSE:BOSS)(OTCQB:BOSQF) BREAKING NEWS: The Yield Growth Corp. just announced that will be launching Urban Juve CBD Skin Essentials—a new line of full-spectrum CBD-infused skin care products, in the fall. The new line will be made with certified organic, full-spectrum CBD distillate and Urban Juve's proprietary hemp root oil to maximize skin renewal. "We know that skin care brands need to stand out in a crowded marketplace, and Urban Juve does just that," says Thomas Bond, Director of Yield Growth, and former COO of MAC Cosmetics. "The formulations are beautiful, and with the addition of CBD, we're meeting the massive demand from wellness-minded consumers."
"We are seeing an incredible demand for CBD skin care products in the marketplace—from a wide range of customers. We're poised to make significant inroads in this space because we had the foresight to formulate CBD-compatible products from the beginning. Currently, we are working on a catalogue of more than 200 formulations," says Sandi Lesueur, President of Urban Juve. "We also have the right team in place. We have experience achieving massive growth for international cosmetics companies, so we are well-positioned to be a major force in the CBD skin care market." Read the full Press Release and more for BOSS at: http://www.financialnewsmedia.com/news-boss
Other cannabis-related developments from around the markets include:
Green Growth Brands Inc. (CSE:GGB)(OTCQB:GGBXF) announced that on Monday, June 3, 2019, it executed an arm's length definitive agreement to acquire all of the issued and outstanding shares of capital stock of Spring Oaks Greenhouses, Inc. Spring Oaks holds a medical marijuana dispensary license and authorization to operate as a Medical Marijuana Treatment Center in the state of Florida. The medical marijuana dispensary license, received in April of this year, authorizes Spring Oaks to initiate production, processing, and dispensing of medical marijuana and marijuana products. The license grants the right, but not the obligation, to open up to 35 dispensaries, subject to an increase to 40 when the Florida Medical Marijuana program surpasses 300,000 patients.
"Entering Florida through the Spring Oaks acquisition will be a great addition to our existing MSO presence in Nevadaand Massachusetts, as well as to our CBD business that already has a national presence," said Green Growth Brands CEO, Peter Horvath. "We admire several of the existing operators in the state and Florida is a special market, with favorable financials implications for the best operators. We look forward to quickly scaling our operations in the state and bringing our expertise to every patient."
Aleafia Health (TSX-V:ALEF)(OTCQX:ALEAF) has completed the largest adult-use cannabis order in the Company's history. The Order is scheduled to depart from the Company's facility today, with delivery to a Canadian provincial government for distribution to online and retail consumers. It will contain the Company's branded Symbl oils, oral sprays and dried flower products. "We are extremely pleased to report the largest ever cannabis sale in our Company's history," said Aleafia Health CEO Geoffrey Benic. "Furthermore, with our Niagara Greenhouse and Outdoor Grow expansion in a plant-ready state, the assets are now in place to scale our cannabis health and wellness vision exponentially and build on today's results."
Curaleaf Holdings Inc. (CSE:CURA)(OTCQX:CURLF) announced its management will participate in the following institutional investor conferences in June 2019, including Eight Capital & Cassels Brock hosted State of the Union: American Cannabis Forum to be held in Toronto on Tuesday, June 4; Piper Jaffray's Annual Consumer Marketplace Conference in New York City on Thursday, June 6; Canaccord Cannabis 100 CEO Summit in Half Moon Bay on Tuesday, June 11; Stifel Nicolaus 2019 Cross Sector Insight Conference to be held in Boston from Monday to Wednesday, June 10 – 12; and Oppenheimer's Annual Consumer Growth & E-Commerce Conference to be held in Boston Tuesday and Wednesday, June 18 and 19.
Westleaf Inc. (TSX-V:WL) (OTCQB:WSLFF) just announced that its subsidiary, Westleaf Labs LP, has entered into a definitive agreement with a subsidiary of Xabis Inc., whereunder Xabis will provide technical expertise to the Company's Calgary-based extraction, processing and manufacturing facility, which is on schedule to complete construction this month. The agreement will provide Westleaf with exclusive access to Xabis's extraction, processing, manufacturing and product development expertise in the Canadian market. "This partnership is another part of the execution on Westleaf's strategy of becoming a significant vertically integrated player in the Canadian cannabis industry," said Scott Hurd, President and CEO of Westleaf. "We believe a diversified offering of derivative cannabis products will account for a major shift in consumer demand once legal. We are positioning to formulate unique, high quality cannabis derivative products and have partnered with an industry leader to complement our expertise in building and running these types of facilities. We are also excited to start offering contract manufacturing services to third parties."
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