FinancialNewsMedia.com News Commentary
PALM BEACH, Fla., Aug. 5, 2021 /PRNewswire/ -- Due to its healing properties, the demand for cannabidiol (CBD) for health and wellness purposes is high, which is the major factor driving the market growth. In addition, the rising acceptance and use of products due to government approvals is a major factor expected to boost production for CBD-infused products. Out of all cannabinoids, cannabidiol is most widely used for therapeutic reasons due to the lack of psychoactive effects. In many medical applications, cannabidiol oil is used, such as anxiety and depression treatment, stress relief, diabetes prevention, pain relief, cancer symptom relief, and inflammation. Due to the increasing adoption of CBD-based products to treat ailments, the global cannabidiol market is anticipated to grow at a lucrative rate over the forecast period. A report from Grand View Research said that the global cannabidiol market size was valued at USD 2.8 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 21.2% from 2021 to 2028, while another highly optimistic report, from MarketsAndMarkets said that The CBD-infused Products Market is expected to reach $216.8 billion by 2028, at a CAGR of 45.6% during the forecast period, 2021-2028. Active companies in news today include: Nextleaf Solutions Ltd. (OTCQB: OILFF) (CSE: OILS), HempFusion Wellness Inc. (OTCQX: CBDHF) (TSX: CBD.U), cbdMD, Inc. (NYSE: YCBD), Charlotte's Web Holdings, Inc. (OTCQB: CWBHF) (TSX: CWEB), Zynerba Pharmaceuticals, Inc. (NASDAQ: ZYNE).
MarketsAndMarkets added: "The growth of this market is mainly attributed to the rising demand and increasing legalization of cannabis, growing application of cannabis in cancer, and health benefits offered by cannabis-infused products are also a few of the key factors driving the growth of the CBD-infused products market." Grand View also said: "Increasing awareness of cannabidiol's therapeutic benefits has influenced a buyer to buy cannabidiol products, regardless of their cost. As these have a greater profit margin, commercial retailers are now focusing on selling cannabis-based products. Numerous health and wellness retailers are offering CBD-based products, such as Rite Aid, CVS Health, and Walgreens Boots Alliance. In addition, CVS Health decides to offer CBD topicals all over its 800 stores and Walgreens Boots Alliance is selling CBD-containing topicals across 1500 of its stores in the U.S."
Nextleaf Solutions Ltd. (OTCQB: OILFF) (CSE: OILS) BREAKING NEWS Nextleaf Solutions Provides Update on Growth of CBD Oil Business and Launch of CBD Branded Products - Nextleaf Solutions Ltd. ("Nextleaf", "OILS", or the "Company"), a federally regulated cannabis oil producer that owns one of the largest portfolios of U.S. patents for the extraction and distillation of cannabinoids, is pleased to provide an update on its increased distribution of CBD oil through bulk ingredient wholesale customers and the Company's Glacial Gold™ branded consumer products.
Glacial Gold™ CBD Products to Launch in British Columbia - Pursuant to the previously announced supply agreement between Nextleaf Labs and the British Columbia Liquor Distribution Branch ("BCLDB"), OILS is pleased to announce the initial launch of Glacial Gold™ will include four SKUs of large format CBD ingestible oils and vape cartridges. Glacial Gold™ branded SKUs are expected to be available for sale to adult-use consumers in British Columbia this quarter.
All Glacial Gold™ CBD products are produced using biomass inputs from the Company's B.C. based, validated hemp supplier. "We're proud of our partner's ability to supply hemp sourced from B.C. farms, fed by glacial waters of B.C. mountains, allowing Nextleaf to honor Glacial Gold's legacy and keeping it a truly authentic B.C. brand from soil to oil," said Nextleaf Chief Executive Officer, Paul Pedersen.
CBD Ingredient Supply to NASDAQ-listed Partner - The Company has received a significant wholesale purchase reorder for high-purity CBD distillate from its NASDAQ-listed partner (the "Partner"). The Company's wholly-owned subsidiary Nextleaf Labs Ltd. ("Nextleaf Labs") supplies the Partner with bulk CBD distillate ingredients to power the Partner's CBD products and brands, including; edibles, ingestible oils, and vape carts distributed by provincially-authorized retailers across Canada. The most recent purchase order has been fulfilled and Nextleaf expects the bulk ingredient supply business to continue at a similar frequency with the opportunity to further the relationship through additional business with the Partner.
CBD Rich Hemp Supply - Nextleaf's validated B.C.-based hemp supplier (the "Supplier") sources CBD rich hemp flower from a network of farms throughout B.C. that provide an economical source of guaranteed pesticide-free hemp flower. Nextleaf Labs processes hemp biomass into distilled CBD oils using Nextleaf's patented extraction and purification technology. The bulk distilled CBD oils are supplied to the Company's wholesale partners, and to provincially authorized distributors and retailers under the Company's market validated Glacial Gold™ brand. CONTINUED… Read this and more news for Nextleaf Solutions by visiting: https://www.nextleafsolutions.com/press-releases/
In other industry news of note:
HempFusion Wellness Inc. (OTCQX:CBDHF) (TSX:CBD.U), a leading health and wellness Company offering premium probiotic supplements and products containing CBD, recently announced that it has completed its previously announced acquisition of APCNA Holdings LLC ("Apothecanna") (the "Transaction").
Transaction Highlights Were: Apothecanna had revenue of over $3.8 million in 2020, which now triples HempFusion's historical proforma revenue to ~$12 million with significant expansion planned for 2021 and beyond, making it immediately accretive to the Company; Immediate distribution to an additional 1,800 stores, including CVS, materially increasing HempFusion's retail distribution footprint; In addition to FDM and e-commerce, the Transaction provides added distribution channels, increasing HempFusion's 5 channel strategy to 6 channels and bolstering topical product distribution sales; Robust eCommerce platform drives over 17,000 average monthly sessions, and nearly $2.0 million in gross sales per year with 76% gross margin historically; Product efficiencies across topicals line while providing a near term opportunity for expansion into ingestible products supported by HempFusion's proprietary formulations; and HempFusion's substantial investment into regulatory compliance will help solidify Apothecanna's leadership position in the CBD industry.
Charlotte's Web Holdings, Inc. (OTCQX: CWBHF) (TSX: CWEB) the World's Most Trusted Hemp Extract™ and a Certified B Corp and Life Time, the nation's premier healthy lifestyle brand with athletic lifestyle resorts and athletic events across the U.S., recently unveiled a new multi-year exclusive agreement.
Charlotte's Web™ and CBDMEDIC™ branded hemp CBD products will be available for purchase in more than 140 Lifecares destinations located with Life Time's athletic resorts and on its online health store. Additionally, as the exclusive CBD product partner of Life Time, Charlotte's Web products will also be featured on in-club signage, as well as in the award-winning Experience Lifemagazine and online digital content.
cbdMD, Inc. (NYSE: YCBD), one of the leading, and most highly trusted and recognized CBD companies, recently announced that it has entered into a letter of intent to purchase leading CBD online marketplace, DirectCBDOnline.com, from Twenty Two Capital, LLC.
"Owning a CBD online marketplace that sells various CBD brands provides unique transparency to better understand consumer spending habits and trends across the wider CBD and hemp marketplace. In addition, the technology and digital strength that DirectCBDOnline.com owns enhances our overall direct to consumer ecommerce capabilities. We are very excited that the team from DirectCBDOnline.com will be joining cbdMD. John Wiesehan III and Brad Trawick, who are the co-founders of DirectCBDOnline.com will be playing important roles, as we expand further in the global CBD market. John will be appointed in a newly created role of Chief Revenue Officer at closing," said Martin A. Sumichrast, Chairman & co-CEO of cbdMD, Inc.
Zynerba Pharmaceuticals, Inc. (NASDAQ: ZYNE), the leader in innovative pharmaceutically-produced transdermal cannabinoid therapies for rare and near-rare neuropsychiatric disorders, presented a poster recently at SLEEP 2021, the 35th Annual Meeting of the Associated Professional Sleep Societies, LLC. A copy of the poster is available on the Zynerba corporate website at http://zynerba.com/publications/.
The poster titled "Impact of ZYN002 Cannabidiol Transdermal Gel on Sleep in Children and Adolescents with Developmental and Epileptic Encephalopathies and Comorbid Autism Spectrum Disorder," shows that in an open-label Phase 2 trial with patients with developmental and epileptic encephalopathies (DEE), treatment with Zygel™ was associated with improved sleep in children with clinically significant sleep disorders at baseline. Furthermore, the children with both DEE and autism spectrum disorder (ASD) showed more wide-ranging benefits on sleep compared to those with DEE alone.
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