PALM BEACH, Florida, June 19, 2018 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
Everywhere you look these days, there's a constant introduction of the newest and innovative CBD (or cannabidiol) oil-infused products. Such products as CBD balms for pain, CBD serums for fine lines, CBD moisturizers for acne... the list goes on. Sales and promotions of CBD products (some combined with small amounts of THC) are exploding. Industry analysts predict the market in the U.S. will reach $1 billion a year by 2020. CBD, one of more than 100 cannabinoids found in marijuana, is made into tinctures, elixirs, balms and other products. The products are touted for just about whatever ails you, and also for beauty, hygiene, stress reduction, and wellness. Active Companies from around the market with current developments this week include: Marijuana Company of America, Inc. (OTC:MCOA), mCig Inc. (OTC:MCIG), Cannabis Science Inc. (OTC:CBIS), Medical Marijuana Inc. (OTC:MJNA), CV Sciences Inc. (OTC:CVSI)
Marijuana Company of America, Inc. (OTCPK:MCOA), an innovative hemp and cannabis corporation, is pleased to announce that the company's hempSMART™ brand has launched its revolutionary new cosmetic product hempSMART™ Face.
Each bottle of hempSMART™ Face is formulated with 150mg of full spectrum, non-pyschoactive, Cannabidiol (CBD) oil derived from the industrial hemp plant. The newly developed hempSMART™ topical is a nourishing facial moisturizer that combines CBD oil with a unique blend of ayurvedic herbs and botanicals that is designed to refresh, replenish, and restore your skin cells on your face.
The innovative new formula is rich in Omega 3, 6, 7 and 9, along with naturally occurring ceramides and contains synergistic ingredients such as Organic Aloe, Sabi Inchi Oil, Argan Kernel Oil, Macademia Seed Oil, Rose Hip Seed Oil, Pomegranate Seed Oil, Tulsi, Turmeric Oil, Frankinsense, Ashwaganda, Sweet Potato Root Extract, Coconut Oil, and Sea Buckthorn Oil.
MCOA's CEO Donald Steinberg commented, "Our team is excited to announce the expansion of the hempSMART™ brand into the world of cosmetic products. HempSMART™ will continue to build upon our already established and unique formulations to provide our customers and affiliates with the tools needed to succeed in the wellness industry." 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:
Medical Marijuana Inc. (OTC:MJNA) last week announced it applauds the Drug Enforcement Administration (DEA) for its recent statement on the legality of cannabidiol (CBD) -- which further clarifies that some CBD products, such as hemp-derived CBD products sold by Medical Marijuana, Inc., are legal to distribute freely throughout the United States and do not fall under the regulations of the Controlled Substances Act (CSA). The statement clarified: "Products and materials that are made from the cannabis plant and which fall outside the CSA definition of marijuana (such as sterilized seeds, oil or cake made from the seeds, and mature stalks) are not controlled under the CSA. Such products may accordingly be sold and otherwise distributed throughout the United States without restriction under the CSA or its implementing regulations."
Cannabis Science Inc. (OTC:CBIS) recently announced its latest University Scholarship Expo will begin this weekend at Cali RX, Cannabis Science's flagship location. Cali RX is located at 14006 Ventura Boulevard, Sherman Oaks, California 91423. Another expo will be held at the newest Cannabis Science location, CBIS Nexus RX. Nexus RX is located at 4922 West Pico Boulevard, Los Angeles CA, that is currently undergoing final renovations and will open for business soon. "As previously stated, these beautiful, state-of-the-art, retail facilities are designed to connect Cannabis Science directly with patients and doctors. Additionally, these facilities provide our company with a platform to contribute to the development of the communities in which we operate," stated Mr. Raymond C. Dabney, Cannabis Science's President, Chief Executive Officer, and Co-founder. "As a good corporate citizen, Cannabis Science, through our partners, intends to offer educational opportunities for people in traditionally underserved communities."
mCig Inc. (OTC:MCIG) recently announced an update on its 40-acre industrial hemp project in New York. This spring, NYAcres propagated 80,000 industrial hemp seeds with FarmOn! Foundation in Copake NY projecting 55,000 pounds of processable flower for CBD extraction to sell as an ingredient for white label products demanding hemp oil and promoting its benefits. Since sprouting seeds NYAcres is currently planting 40 acres of industrial hemp outdoors in certified organic fields focused on two varieties of CBD concentrated organic seed strains: Cherry Wine, and Berry Blossom, which yield 12-15 percent CBD concentration. These feminized only seed strains are both 100% hemp and 100% organic and are registered with the Department of Agriculture.
CV Sciences Inc. (OTCQB:CVSI) last week announced the June 7, 2018 publication of the toxicology and safety results of an extract from the base raw materials used in its market leading PlusCBD Oil™ consumer products. The Company contracted respected scientific and regulatory consulting firm, AIBMR Life Sciences, Inc, to conduct the battery of toxicological studies to investigate the safety of oral consumption of the Company's hemp cannabidiol (CBD) oil and to support a Generally Recognized as Safe (GRAS) Independent Conclusion. The monumental study entitled, "An Assessment of the Genotoxicity and Subchronic Toxicity of a Subcritical Fluid Extract of the Aerial Parts of Hemp" concluded that the test article was non-mutagenic, non-clastogenic and non-genotoxic. The toxicological assessment is the first known published data of its kind since the 1980 Rosenkrantz et al.'s publication with respect to toxicology data on CBD, Cannabichromene and hashish oil. The battery of GLP/OECD compliant studies is a major contribution in advancement of the science of hemp-derived CBD.
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