PALM BEACH, Florida, October 17, 2018 /PRNewswire/ --
FinancialNewsMedia.com News Commentary
A number of studies show that new and recreational cannabis users are seeking a variety of consumption options other than smoking. The CBD niche of the lucrative cannabis market continues to experience notable success as product development and diversification are generating new revenue streams for companies in the marijuana space. CBD has allowed cannabis innovators to capitalize on legally compliant opportunities in the CBD and marijuana edibles and related spaces while tapping into the sizable market for alternative choices. Recent industry activity has seen Constellation Brands investing $4 Billion in Canopy Growth Corporation and National Beverage Companies are publicly expressing interest in the space as well. Consumer response to CBD based products has been very positive, leading companies to continue to explore new products and expand current offerings. Active companies in the markets today include: The Alkaline Water Company Inc. (TSX-V:WTER) (OTC:WTER), New Age Beverages Corporation (NASDAQ:NBEV), Inda Globalization Capital Inc. (NYSE:IGC), Hexo Corp. (OTC:HYYDF) (TSX:HEXO), Molson Coors Brewing Company (NYSE:TAP) (TSX:TPX-A).
The Alkaline Water Company Inc. (TSX-V:WTER.V) (OTCQB:WTER) BREAKING NEWS: The Alkaline Water Company, with products bottled under the trademark Alkaline88®, is pleased to announce that its wholly owned subsidiary, A88 Infused Beverage Division, Inc. ("A88 Infused"), has entered into an exclusive formulation, development, and supply agreement (the "Agreement") with American Nutritional Products Inc. ("ANP"), headquartered in Carson City, Nevada.
This Agreement solidifies our ongoing relationship with ANP to finalize the formulations for our Cannabinol (CBD) and infused products. ANP has agreed to initially develop 5 to 7 functional waters including 3 to 4 in the CBD area and 2 to 3 in the vitamin and antioxidant segment. Each will be uniquely formulated to match both consumer demands and taste profiles. Under the terms of the Agreement, A88 Infused will be granted the exclusive right to products developed by ANP, which will be used in the development of our new line of infused beverages, including:
- Hemp-Derived CBD Infused Alkaline88® Water
- Vitamin infused CBD Alkaline88® water
• Including Vitamin B12 and Chlorophyll
- Vitamin Based "Energy" Alkaline88® water
- Sparkling CBD Alkaline88® water
- Naturally flavored Alkaline88® water
• Including watermelon, blackberry lemon, blood orange, and peach mango
"For over 25 years, Maria Watson, President and CEO of ANP, has been an industry leader in the nutraceutical world. Her formulation team has over 40 years of experience in the development and marketing of infused beverages containing CBD, nutraceuticals, and organic flavoring, making them an ideal partner to work with in the development of our new line of products. We both recognized the synergies of our companies and this agreement was a logical extension of our recently signed co-packing agreement. The depth of knowledge and expertise provided by ANP will ensure that A88 Infused is able to introduce some of its infused beverages to market by the end of this calendar year," stated Richard A. Wright, President and CEO of The Alkaline Water Company.
"Alkaline88® is one of the only national brands fully committed to this space. In order to take advantage of this unique position, we have engaged ANP to develop a cadre of distinct and exceptional products now so as consumer preferences change and the market develops, we can be ready to meet demand. Many of the formulations have already been completed for a number of these products and shelf life and bio availability testing should be completed shortly to allow for a late 2018 launch of some of these infused products. The Company is currently working on an international roll-out specifically eyeing the newly legalized Canadian recreational cannabis market," concluded Mr. Wright.
"We are thrilled to be working with a national brand like Alkaline88®. Together we are finalizing development of our formulations and products at ANP in order to launch into the U.S. and Canadian market. We have worked tirelessly to be ready for this opportunity. In addition to our industry leading nutraceutical formulations, ANP is one of the only International Center for Cannabis Therapy (ICCT) Certified plants in the United States. This allows us to bring a unique skill set to our CBD product development. We have relationships with some of the best doctors and scientists in both the CBD and nutraceutical space. We believe some of our Ayurveda formulations will give A88 Infused a significant advantage in delivering great tasting and bio available products to their customers. We are excited to be a part of the next chapter of Alkaline88®'s growth story," concluded Maria Watson, President and CEO of American Nutritional Products, Inc.
Read this and more news for Alkaline Water Company at: http://www.financialnewsmedia.com/news-wter/
In other industry developments in the markets:
New Age Beverages Corporation (NASDAQ:NBEV) recently announced that the results of its CBD-infused portfolio released during the North American Convenience Store show at the Las Vegas Convention Center, October 7-10, 2018. New Age was the 2nd most visited and searched booth out of 1,259 exhibitors at the show and ranked in the 100th percentile in terms of booth popularity, despite debuting their new CBD-Infused products offsite at the hotel connected to the convention center. At NACS New Age displayed their full portfolio of one-stop-shop healthy beverages and unveiled their "Live Healthy" campaign at the same time to unprecedented response and outranking some of the major other food and beverage companies at the show including Coca-Cola, Red-Bull, Monster, AB InBev, Campbells, and more than 1,000 others. "Placing 2nd at NACS is just unheard of and is new territory for New Age," commented Mike Cunningham, SVP of Sales. "And this doesn't even count the non-stop flow of retailers to our offsite location and standing room only CBD launch event. It is extremely gratifying to see retailers at the tipping point of taking greater positions in healthy beverages versus their legacy soft drink portfolios. New Age is in a leadership position to take advantage of this shift, and is one of the few scale companies that can meet all of the retailer's needs, as their customers demand more and more better-for-you products."
Inda Globalization Capital Inc. (NYSE:IGC) earlier this week announced financial results for the quarter ended September 30, 2018, which is the second quarter of its 2019 fiscal year. Total revenue was approximately $811 thousand for the three months ended September 30, 2018, an increase of 245% as compared to approximately $235 thousand for the three months ended September 30, 2017. All quarterly revenue was attributable to the legacy infrastructure business operations. During the quarter the Company recorded SG&A expenses of approximately $873 thousand compared to approximately $335 thousand for the three months ended September 30, 2017. The increase in SG&A is mainly attributable to expenses associated with our expansion of medical cannabis related research and development totaling approximately $237 thousand during the quarter, versus approximately $78 thousand for the three months ended September 30, 2017, and the issuance of non-cash stock and options.
HEXO Corp. (TSX:HEXO.TO) (OTCPK:HYYDF) recently announced that it has shipped its first order for the Canadian adult-use cannabis market. The shipment is yet another example of the Company executing its commitment to shareholders and consumers to supply innovative and easy-to-use products, powered by HEXO, across Canada. "This is a historic moment for HEXO," said Sonia Isabel, Vice-President of Sales for HEXO. "We are so proud of all of our teams for the hard work that they have put in leading up to this moment, but it doesn't stop now. We look forward to continuing to provide high-quality products and client experiences as we continue our expansion throughout Canada and beyond. HEXO has a five-year, $1 billion contract as the preferred supplier to the Société québécoise du cannabis (Quebec) in addition to securing the online distribution contract for the province. HEXO has also made agreements to supply adult-use cannabis in Ontario, and British Columbia.
Molson Coors Brewing Company (NYSE:TAP) (TSX:TPX-A.TO) came to a close up .94% on Tuesday with over 1.2 million shares traded. TAP and and HEXO Corp. (HEXO.TO) recently announced that they have closed the transaction announced on August 1, 2018 , to form a joint venture to pursue opportunities to develop non-alcoholic, cannabis-infused beverages for the Canadian market following legalization. The joint venture, Truss, will be led by former Molson Coors executive, Brett Vye, in the role of Chief Executive Officer. Vye will report to the Truss board of directors consisting of three members appointed by MCC and two members appointed by HEXO. "With the backing of two partners with deep Canadian roots, proven success, and market-leading experience in the respective beverage and cannabis industries in Canada, Truss will hit the ground running," said Brett Vye, Chief Executive Officer at Truss. "When consumable cannabis is legalized in Canada, Truss will be ready to make its mark as a responsible leader in providing high-quality beverages for the Canadian consumer. Why "Truss"? We are joining together the extensive experience and excellent practices of each partner to build a powerful foundation for the future."
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