Accessibility Statement Skip Navigation
  • Resources
  • Blog
  • Journalists
  • +44 (0)20 7454 5110
  • Client Login
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All Public Company News
      • All Multimedia News
      • View All News Releases

      • Regulatory News

      • D/A/CH Regulatory News
      • UK Regulatory News
      • View All Regulatory News

  • Business & Money
      • Auto & Transportation

      • Aerospace & Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads & Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking & Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers & Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalisation
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls & Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil & Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defence
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation & Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking & Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers & Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines & Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics & Personal Care
      • Fashion
      • Food & Beverages
      • Furniture & Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewellery
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks & Tourist Attractions
      • Gambling & Casinos
      • Hotels & Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Animal Welfare
      • Corporate Social Responsibility
      • Economic News, Trends & Analysis
      • Education
      • Environmental
      • European Government
      • Labour & Union
      • Natural Disasters
      • Not For Profit
      • Public Safety
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Overview
  • Distribution
  • Paid Placement
  • Multichannel Amplification
  • Disclosure Services
  • SocialBoost
  • Rooms
    • MediaRoom
    • ESG Rooms
  • AI Tools
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Hamburger menu
  • Cision PR Newswire UK provides press release distribution, targeting, monitoring, and marketing services
  • Send a Release
    • Phone

    • +44 (0)20 7454 5110 from 8 AM - 5:30 PM GMT

    • ALL CONTACT INFO
    • Contact Us

      +44 (0)20 7454 5110
      from 8 AM - 5:30 PM GMT

  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • News in Focus
    • Browse News Releases
    • Regulatory News
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
    • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • Overview
  • Distribution
  • Paid Placement
  • Multichannel Amplification
  • Disclosure Services
  • Cision Communications Cloud®
  • AI Tools
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists

Diversity Leads to Growth in Flourishing Cannabinoid Industries


News provided by

CannabisNewsWire

07 Jun, 2018, 12:30 GMT

Share this article

Share toX

Share this article

Share toX

NEW YORK, June 7, 2018 /PRNewswire/ --

CannabisNewsWire Editorial Coverage  

The cannabis industry is about more than medicine and recreational drugs. Whether selling hemp-derived textile and construction products or providing resources to support cannabis growers, companies are now accessing the market in a variety of ways. Marijuana Company of America Inc. (OTC: MCOA) (MCOA Profile) is developing hemp-based wellness products and cultivating industrial hemp on a large scale in Canada and the United States. Scotts Miracle-Gro Company (NYSE: SMG) is selling hydroponic equipment to legal cannabis growers and has recently made a significant acquisition in this area. Cronos Group, Inc. (TSX: CRON) (NASDAQ: CRON) has used its success to become the first pure play cannabis company traded on Wall Street and in Canada was uplisted to reach the Toronto Stock Exchange. PotNetwork Holding, Inc. (OTC: POTN) has fostered a range of subsidiaries whose diverse products include cannabinoid wellness products. In addition, companies such as AbbVie, Inc. (NYSE: ABBV), which already has a cannabis-based drug on the market, may be ahead of the game as the industry expands and evolves moving forward.

A Diverse Industry

A lot of attention is currently on the medical and recreational potential of the cannabis industry. The huge sums of money already spent on the life-changing promise of medical marijuana have pushed these areas to center stage. But while they are undoubtedly an important part of the sector, they do not illustrate the whole picture involving industrial hemp's nationwide come back.

Much of the growth in the hemp industry is in subsidiary services and other uses for the plant's products. Hemp - a variety of cannabis that does not contain its siblings' intoxicating potential - is being grown for use in food, fibers and even building materials, all without getting anyone high. Landlords, compost manufacturers and engineering companies are finding ways to support and profit from the changing market. Even research into active ingredients involving cannabinoids is shifting away from THC, the chemical that gets marijuana users high, and toward the potential uses of non-intoxicating cannabidiol (CBD), which can be obtained from hemp.

The result is a varied industry in which companies can flourish through variety instead of focusing on one sphere.

Careful Cultivation

Marijuana Company of America (OTC: MCOA) is making the most of this opportunity. Founded by two veterans of the cannabis industry, MCOA is building a portfolio of partnered companies working across the sector.

One of the company's important assets is hempSMART™, a wholly-owned subsidiary of MCOA. The hempSMART brand is focused on producing and marketing wellness products including CBD derived from hemp. The hempSMART team makes use of the cannabinoid chemicals to provide a range of products that are useful and appealing to consumers.

Hemp products were worth at least $688 million in 2016 and are expected to be worth $1.8 billion by 2020. Ownership of hempSMART gives MCOA a place in this significant part of the sector, meaning that it is not dependent on federally illegal THC-laden cannabis products to grow and sustain its revenue streams.

As a newly emerging industry, cannabis faces a great deal of uncertainty over sales and income potential. This uncertainty creates investor opportunities as companies outperform expectations. But it also creates risks due to fluctuations in income. A cultivation project in Washington State is providing MCOA with a buffer against these risks.

Created as part of a joint venture with Bougainville Ventures Inc., the cannabis cultivation and processing facility at Oroville, Wash., covers 10,000 square feet of state-of-the-art growing space, which will eventually be expanded to 30,000 square feet. Rather than using the site to grow its own products, MCOA is renting out the facility to a growing company, which is expected to begin work there this month. The rent from the facility ensures a stable source of income for MCOA - derived from cannabis cultivation but not prone to its uncertainties. By providing this facility, the company is also supporting the growth of the cannabis sector, creating a market for such properties and for its own related products.

Preparing for the Canadian Market

Making the most of the possibilities offered by cannabis isn't just about diverse products, it's also about diverse markets. For any company working in North America, Canada is one of the most important markets currently and MCOA is preparing to enter that market.

Canada is already a significant market for industrial hemp-derived products and medicinal cannabinoids. Legislation due to come into force later this year will legalize the extraction of cannabinoids for all potential uses which will make Canada one of the largest markets for legal cannabinoids in the world.

To make the most of this expected market growth, MCOA recently entered into a joint venture with Global Hemp Group, a Canadian company, to develop high-yield CBD hemp. Working on a 109-acre agricultural property in Scio, Oregon, the companies will use a dual-cultivation strategy with traditional outdoor cultivation alongside the year-round harvesting made possible by greenhouses. Cultivation of plants has already begun, and work has started to construct five new greenhouses to ensure substantial year-round growing capacity.

The project team will be using data collection and analysis to check the performance of growing techniques and to develop hemp rich in CBD. This will help to ensure supplies of high-grade hemp for both companies' products.

"Our evolving project in Scio, Ore., highlights the quality of the team in place as they continue to lean on their many years of experience cultivating hemp," said Donald Steinberg, the CEO of Marijuana Company of America. "Activities such as these will help to secure the raw oil that we will need for our hempSMART brand of CBD infused products."

Meeting Growing Demand

The Oregon facility is coming into play at a perfect time for MCOA. Demand for CBD is high due to the increasing number of manufacturers and products on the market. This is creating a shortage of high-quality CBD.

MCOA's new farm will provide an ample source of hemp-derived CBD. With its tie-in to the Canadian industry, the company looks to be in a strong position to profit from the shortage in both the American and Canadian markets. MCOA seems to have placed itself as the right business at the right time to make the most of a shifting market.

With its range of facilities and partnerships, MCOA has already developed a broad hemp-related portfolio. By incorporating elements that are protected from market uncertainties alongside ones better positioned to make the most of change, the company may be on track to make the most of changes in the sector.

More Companies Target Cannabis

Plenty of other companies are also building their hopes of tapping into the same markets as MCOA.

A growing interest in growing things means cannabis is creating opportunities for companies already established in the agriculture and gardening sectors. Scotts Miracle-Gro Company (NYSE: SMG) has agreed to acquire Sunlight Supply, the United States' leading distributor of hydroponics products, for $450 million in cash and stocks. The company's largest-ever transaction will double its sales to cannabis growers, turning the lawn and gardening company into an important supplier to the medical and recreational drug sectors. Though hydroponics are used for other specialist plant-growing purposes, legalized cannabis is a critical new part of the market.

The increasing importance of the cannabis industry was heralded when Cronos Group, Inc. (TSX: CRON) (NASDAQ: CRON) became the first pure-play cannabis company traded on Wall Street. A major grower and seller of cannabis products, the Canadian company is set to profit from the growth of the industry in its native country. In a further sign of its healthy prospects, its shares in Canada were recently upgraded from the Toronto Venture Exchange to the Toronto Stock Exchange. Like MCOA, it is working across North America thanks to a cross-border venture with Los Angeles-based MedMen.

Others are using a similar model to MCOA, investing in a range of cannabis companies. PotNetwork Holding, Inc. (OTC: POTN) has developed a range of subsidiaries that contribute to an increasingly diverse industry. Its Diamond CBD, Inc. subsidiary is reaching into the $110 billion global pet care industry by creating CBD-based wellness products for pets.

Finally, traditional pharma AbbVie, Inc. (NYSE: ABBV) seems to be positioning itself in the industry so it can take advantage of potential future growth and opportunities. The company already has a cannabis-based drug on the U.S. market. FDA-approved Marinol helps alleviate nausea or vomiting for chemotherapy patients, as well as helping AIDS patients who have lost their desire to eat.

From hydroponics to pet health and beyond, hemp-based cannabinoids are reaching into all corners of the economy and returning corporate profits.

For more information about Marijuana Company of America, please visit Marijuana Company of America (OTC: MCOA).

About CannabisNewsWire
CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today's market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

Receive Text Alerts from CannabisNewsWire: Text "Cannabis" to 21000

For more information please visit https://www.CannabisNewsWire.com and or https://CannabisNewsWire.News

Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer

DISCLAIMER: CannabisNewsWire (CNW) is the source of the Article and content set forth above. References to any issuer other than the profiled issuer are intended solely to identify industry participants and do not constitute an endorsement of any issuer and do not constitute a comparison to the profiled issuer. FN Media Group (FNM) is a third-party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated with CNW or any company mentioned herein. The commentary, views and opinions expressed in this release by CNW are solely those of CNW and are not shared by and do not reflect in any manner the views or opinions of FNM. Readers of this Article and content agree that they cannot and will not seek to hold liable CNW and FNM for any investment decisions by their readers or subscribers. CNW and FNM and their respective affiliated companies are a news dissemination and financial marketing solutions provider and are NOT registered broker-dealers/analysts/investment advisers, hold no investment licenses and may NOT sell, offer to sell or offer to buy any security.

The Article and content related to the profiled company represent the personal and subjective views of the Author, and are subject to change at any time without notice. The information provided in the Article and the content has been obtained from sources which the Author believes to be reliable. However, the Author has not independently verified or otherwise investigated all such information. None of the Author, CNW, FNM, or any of their respective affiliates, guarantee the accuracy or completeness of any such information. This Article and content are not, and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action; readers are strongly urged to speak with their own investment advisor and review all of the profiled issuer's filings made with the Securities and Exchange Commission before making any investment decisions and should understand the risks associated with an investment in the profiled issuer's securities, including, but not limited to, the complete loss of your investment.

CNW & FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements.  The forward-looking statements in this release are made as of the date hereof and CNW and FNM undertake no obligation to update such statements.

CannabisNewsWire (CNW) & NetworkNewsWire (NNW) are proud to be affiliated partners of the Investor Brand Network (IBN)

About IBN
Over the past 10+ years we have consistently introduced new network brands, each specifically designed to fulfil the unique needs of our growing client base and services. Today, we continue to expand our branded network of highly influential properties, leveraging the knowledge and energy of specialized teams of experts to serve our increasingly diversified list of clients.

Please feel free to visit the Investor Brand Network (IBN) http://www.InvestorBrandNetwork.com

Corporate Communications Contact:
CannabisNewsWire (CNW)
Denver, Colorado
+1-303-498-7722 Office
Editor@CannabisNewsWire.net

Media Contact:
FN Media Group, LLC
NNW@FinancialNewsMedia.com 
+1-(954)345-0611

Modal title

Contact PR Newswire

  • +44 (0)20 7454 5110
    from 8 AM - 5:30 PM GMT
  • General Enquiries
  • Media Enquiries
  • Partnerships

Products

  • Content Distribution
  • Multimedia Services
  • Disclosure Services
  • Cision Communications Cloud®

About

  • About PR Newswire
  • About Cision
  • Partnering Opportunities
  • Careers
  • Accessibility Statement
  • APAC
  • APAC - Simplified Chinese
  • APAC - Traditional Chinese
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Indonesia
  • Israel
  • Japan
  • Korea
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United States
  • Vietnam

My Services

  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
  • Data Privacy

Do not sell or share my personal information:

  • Submit via Privacy@cision.com 
  • Call Privacy toll-free: 877-297-8921

Contact PR Newswire

Products

About

My Services
  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
+44 (0)20 7454 5110
from 8 AM - 5:30 PM GMT
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 PR Newswire Europe Limited. All Rights Reserved. A Cision company.