PALM BEACH, Florida, June 19, 2019 /PRNewswire/ -- Cannabis wellness products have gone mainstream. As CBD products find their way onto the shelves of Sephora, Barney's, Estee Lauder, Vitamin Shoppe, and Ulta Beauty, analysts believe the trend could be a significant catalyst. In fact, given sizable interest, Piper Jaffray believes the CBD market could be worth up to $100 billion. 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), The Green Organic Dutchman Holdings Ltd. (TSX:TGOD)(OTC:TGODF), Charlotte's Web Holdings Inc. (CSE:CWEB)(OTC:CWBHF), and SLANG Worldwide Inc. (CSE:SLNG)(OTC:SLGWF).
The Yield Growth Corp. (CSE:BOSS)(OTCQB:BOSQF) BREAKING NEWS: The Yield Growth Corp. just announced that the Oregon Liquor Control Commission (OLCC) has given final packaging approval for 6 Wright & Well cannabis topicals and tinctures to be distributed in Oregon, in the United States. This approval represents the final approval before the products can be sold through cannabis retailers in Oregon. OLCC approval of 3 additional Wright & Well products is expected shortly. The initial 6 approved Wright & Well products are Be Chill™ Tincture (THC: Purple Hindu Kush, CBD: hemp source), Be Better™CBD Tincture (CBD: hemp source), Be Better™CBD Extra Strength Tincture (CBD: hemp source), Be Relieved™Pain Gel (THC: Purple Hindu Kush, CBD: hemp source), Be Free™ Pain Balm (THC: Purple Hindu Kush, CBD: hemp source), and Be Loved™Massage Oil (THC: Purple Hindu Kush, CBD: hemp source)
"The OLCC packaging approval is one of the most rigorous processes to complete before products can be legally manufactured and sold in Oregon," says Penny Green, CEO of Yield Growth. "Now that we have successfully completed the process, we have cleared the final hurdle, and we expect manufacturing to be complete in early July, and sales to begin in mid-July." The products will be distributed in Oregon by Nova Paths, an Oregon-based cannabis licensed distributor that has established relationships with over 400 licensed cannabis retail stores. Targeted towards wellness-minded consumers, the products incorporate the highest quality CBD, THC, hemp root oil and terpenes to support a healthy lifestyle. For more information on BOSS, please visit: https://yieldgrowth.com/
Other cannabis-related developments from around the markets include:
Green Growth Brands Inc. (CSE:GGB)(OTCQB:GGBXF) just announced that it has surpassed 50 Seventh Sense Botanical Therapy shops open in four months. The first Seventh Sense shop opening was announced mid-February, and, since that time, GGB has continued to roll out its Seventh Sense shops at a rapid pace. The Company anticipates opening more than 200 such shops by the end of 2019. Seventh Sense shops retail high-quality botanical therapy CBD-infused personal care and beauty products at affordable prices. The product offering includes over 100 SKUs across bath, body, face, therapeutic, and sleep categories. "This rapid rollout across the U.S. is truly unprecedented," said Peter Horvath, CEO of Green Growth Brands. "We expect to open over 200 shops this year and are confident that we are building one of the largest and most valuable distribution networks for CBD."
The Green Organic Dutchman Holdings Ltd. (TSX:TGOD)(OTCQX:TGODF) just announced that it entered into a multi-year agreement with Neptune Wellness Solutions Inc. for extraction, formulation and packaging services. As part of the agreement, TGOD will have exclusivity on extraction, formulation and packaging of certified organic products within and for the Canadian market. Neptune's expertise will enable TGOD to quickly scale up production of a wide range of consumer wellness products. Under the terms of the agreement, TGOD will allocate more than 230,000 kilograms of cannabis and hemp biomass for Neptune to process and transform into premium certified organic consumer wellness products, making this the largest deal for a processor in the industry to date. The contract between TGOD and Neptune covers a period of three years and is expected to be back-end loaded with the first year accounting for approximately 20% of the total value. It also marks a significant milestone for cannabis manufacturing in Quebec, creating high value jobs, complementing TGOD's large investment in Valleyfield where the Company is nearing the completion of the first phase of what will become the world's largest organic cannabis growing facility at over 1.3 million square feet.
Charlotte's Web Holdings Inc. (CSE:CWEB)(OTCQX:CWBHF) just unveiled its newest CBD product line - hemp extract-infused CBD Gummies – made with whole-plant extract from its prized hemp genetics and featuring synergistic functional ingredients to support specific health related functions including everyday stress, sleep, and recovery from exercise or active lifestyles. Available in a variety of flavors, gummies are the latest addition to the Company's expanding line of CBD hemp-extract products. "Gummies are a very popular edible format as a result of convenience and measurable consumption," stated Kelsey Morrison, Associate Director of Product Development at Charlotte's Web. "This new delivery format from Charlotte's Web provides an easy bite-sized way to ingest full-spectrum hemp-extract CBD."
SLANG Worldwide Inc. (CSE:SLNG)(OTCPK:SLGWF) announced full quarter net operating revenue of $5 million included revenue of National Concessions Group, Inc. and NWT Holdings, LLC from January 1, 2019; SLANG's acquisitions of Organa Brands and Firefly were completed on January 22, 2019. Revenue from January 1 – March 31, 2019, excluding revenues of Organa Brands and Firefly prior to acquisitions was $4.0 million. Adjusted gross profit of $2 million (56% adjusted gross margin) excluding the impact of acquisition related one-time inventory fair value adjustment; gross profit of negative $224,000 including the impact of the fair value adjustments. SLANG CEO Peter Miller said, "SLANG's capital-light model and partnership focus enables us to generate significant brand value within our portfolio while also supporting the success of the cultivators, extractors, distributors, and retailers that make up the SLANG network. The proof of this success, and the benchmark by which we measure brand performance, is Branded Unit volumes. In our first quarter as a public company, 1 million SLANG-branded units, containing 52 million branded servings, were purchased by consumers. Our approach to existing operations and M&A will continue to support our brands' success at the cash register, enhance our unit economics, and generate substantial overall growth."
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