PALM BEACH, Florida, May 28, 2019 /PRNewswire/ -- It's become tough to ignore the cannabis story. Over the last year, Canada approved its recreational use. More U.S. states are legalizing. Corporate America is using CBD and hemp oil in everything from lotions and pain balm to beverages. President Trump signed the 2018 Farm Bill into law. Congress has even submitted a cannabis bill that could legalize cannabis at the federal level. Even better, according to Arcview Market Researcher and BDS Analytics, global spending on cannabis is expected to rocket 38% this year to $16.9 billion up from $12.2 billion in 2018. Along the way, it's creating sizable sales opportunity for several companies, including The Yield Growth Corp. (CSE:BOSS) (OTC:BOSQF), Aleafia Health Inc. (TSX-V:ALEF) (OTC:ALEAF), The Green Organic Dutchman Holdings Ltd. (TSX:TGOD) (OTC:TGODF), Canopy Rivers Inc. (TSX-V:RIV)( OTC:CNPOF), and Charlotte's Web Holdings Inc. (CSE:CWEB) (OTC:CWBHF).
The Yield Growth Corp.(CSE:BOSS)(OTCQB:BOSQF) BREAKING NEWS: The Yield Growth Corp. just announced that its wholly owned subsidiary, Wright & Well, has developed a dedicated line of CBD products which are set to be manufactured in California this summer. The collection contains less than 0.3% THC, in compliance with the US Farm Bill for legal sale across the United States. The new Wright & Well CBD line includes CBD Full Spectrum Tinctures, Body Balm, Body Gel and Body Oil. Yield Growth approaches product development with uncompromising quality. The unique formulations of the balm, gel and oils are founded on Ayurvedic wellness principals, and include as a key ingredient Cannabis Sativa Root Extract, made using Yield Growth subsidiary Urban Juve's patent pending extraction technology.
The CBD products will be manufactured at an FDA registered laboratory and manufacturing facility in California which follows cGMP guidelines. Yield Growth is currently building a CBD product-specific B2C e-commerce website to take consumer orders, and a B2B portal to process retail orders as well. These orders will be routed through Yield Growth's existing enterprise resource planning system, which will then generate shipping orders to a fulfillment center in California. This development will be built using the underlying architecture of the recently launched fully functional e-commerce platform www.urbanjuve.com.
"The supply chain and manufacturing and fulfillment processes we have set up in California are scalable and will allow us to manufacture and sell many CBD products beyond our Wright & Well brand," says Penny Green, Yield Growth CEO, "Within a few months we will have product manufacturing and distribution channels set up for all 3 legal streams in the cannabis industry: non-cannabinoid hemp, hemp derived CBD, and full THC. We are now in talks with potential licensing and joint venture partners to allow us to grow our business at an accelerated rate." For more information about BOSS, please visit: https://yieldgrowth.com/investors/
Other cannabis-related developments from around the markets include:
Aleafia Health Inc. (TSX-V:ALEF)(OTCQX:ALEAF) just completed the largest adult-use cannabis order in the company's history. The Order is scheduled to depart from the Company's facility with delivery to a Canadian provincial government for distribution to online and retail consumers. It will contain the company's branded Symbl oils, oral sprays and dried flower products. The value of the Order is expected to generate proceeds from the sale of cannabis exceeding $0.7 million. In the first 38 days of Q2 2019, including the revenue to be obtained from the Order, the Company has received adult-use cannabis product orders from three Canadian provincial governments of over $1.2 million in gross revenue, representing significant growth when compared to the sale of cannabis revenues generated during 2018. "We are extremely pleased to report the largest ever cannabis sale in our Company's history," said Aleafia Health CEO Geoffrey Benic. "Furthermore, with our Niagara Greenhouse and Outdoor Grow expansion in a plant-ready state, the assets are now in place to scale our cannabis health and wellness vision exponentially and build on today's results."
The Green Organic Dutchman Holdings Ltd.(TSX:TGOD)(OTCQX:TGODF) just obtained approval from Health Canada, under the Cannabis Regulations, to expand operations into its new state-of-the-art building located in Hamilton, Ontario. The 20,000 square feet indoor facility is going to be used for cannabis cultivation; planting will start in the coming weeks. "This is yet another important milestone for our team as we continue to ramp up production with a focus on executional excellence," commented Brian Athaide, CEO of TGOD. "We have pioneered the concept of sustainably growing all-natural, certified organic cannabis at scale. The product we are able to offer Canadians is clean, pesticide-free and undeniably premium." The newly built facility is the second of three buildings at TGOD's Hamilton site, which will have a total size of 166,000 square feet when all are completed later this summer, and an annual production capacity of 17,500 kgs.
Canopy Rivers Inc.(TSX-V:RIV)(OTCPK:CNPOF) just announced that its portfolio company, Agripharm Corp.has received its outdoor cultivation license from Health Canada. Agripharm will be growing its first outdoor crop this summer at its Creemore, Ontario location using award-winning genetics. "We are pleased to see Agripharm diversify its operations and increase its growing capacity with the grant of this outdoor cultivation license," said Oliver Dufourmantelle, Chief Operating Officer of Canopy Rivers. "Agripharm's outdoor production is ahead of the curve with support from Green House Brands, which provides decades of experience in choosing, and successfully growing, the best genetics for open-air crops."
Charlotte's Web Holdings Inc. (CSE:CWEB) (OTCQX:CWBHF) just announced today that the Underwriters of its previously-announced underwritten public offering of 7,000,000 common shares of the Company sold by certain current shareholders at a price of C$20.00 per share have exercised in full their option to purchase an additional 1,050,000 common shares from the Selling Shareholders at the Offering Price. The gross proceeds to the Selling Shareholders under the exercise of this over-allotment will be C$21,000,000, and together with the gross proceeds from the initial closing on May 15, 2019 of C$140,000,000, the aggregate gross proceeds of the offering will be $161,000,000.
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