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

Hemp Cannabidiol (CBD) Industry Swells as Sales for Hemp-Derived CBD Products Reach New Levels


News provided by

MarketNewsUpdates.com

29 Aug, 2018, 12:55 GMT

Share this article

Share toX

Share this article

Share toX

PALM BEACH, Florida, August 29, 2018 /PRNewswire/ --

MarketNewsUpdates.com News Commentary

The cannabidiol (CBD)-Hemp market is estimated to grow by 700% by 2020, according to Forbes. In a recent report issued by New Frontier Data, the U.S. CBD industry grew by nearly 40% in 2017, reaching $367 Million in sales across hemp-derived and marijuana-derived markets. Astonishingly, this is first year in which sales of hemp-derived CBD products outpaced marijuana-derived products. The report also clarifies that surging demand is projected to lift both of the markets higher. Currently the current year is being view as a break-out year for CBD products, as total market expansion is expected to cross the USD 500 Million mark in sales. The CBD industry will grow to $1.2 Billion by 2020, and nearly $2 Billion by 2022. Active companies in the Cannabis markets this week include Cannabis Strategic Ventures, Inc. (OTC: NUGS), Sugarmade Inc. (OTC: SGMD), Smart Cannabis Corp. (OTC: SCNA), Hemp, Inc. (OTC: HEMP), The Supreme Cannabis Company Inc. (TSX-V: FIRE) (OTC: SPRWF).

Cannabis Strategic Ventures, Inc. (OTCPK: NUGS) BREAKING NEWS : Cannabis Strategic Ventures announces a major common share restructuring. A total of 75.6 million shares cancelled, including 20 million from Chief Executive Officer, Simon Yu. The share cancellations are designed to increase shareholder value for all shareholders and will allow Company managers, consultants, minority shareholders, and other key Cannabis Strategic Ventures stakeholders to increase corporate flexibility relative to future brand-oriented strategic acquisitions and partnerships.

"The share cancellations increase value for all shareholders and signals to minority shareholders on the management team's interest in building long-term value for all," commented Mr. Simon Yu, CEO, Cannabis Strategic Ventures. Yu is cancelling 20 million shares of his personal holdings. Additionally, Cannabis Strategic Ventures consultants and associates are canceling an additional 55.6 million shares. In total, approximately 25% of the total shares are being cancelled via this action.

The Company recently announced major partnerships with, Fitamins and Asher House Pet CBD, both premium brands in the multi-million dollar CBD products market. Through the acquisitions, the Company gained access to Fitamins' network of more than 600 wholesalers that distribute products to the Asian-American market; while The Asher House Pet CBD is gaining national attention for their cross-country road show promoting Pet Adoption and Pet CBD.  

Mr. Yu continued, "The future of Cannabis Strategic Ventures is all about acquiring and partnering with the best brands in the fast-growing cannabis marketplace. The streamlined share structure will continue to make our Company an attractive partner as we work toward signing other similar brands and distribution partnerships." Read this and more news for Cannabis Strategic Ventures at: http://www.marketnewsupdates.com/news/nugs.html

Other recent developments in the cannabis industry include:

Smart Cannabis Corp. (OTCPK: SCNA) has begun installation of greenhouse equipment at a property permitted to grow cannabis in Yolo County. The contract with CompassLeaf LLC is being fulfilled by SCNA subsidiary, Next Generation Farming, and the deposit has been received. The project involves installation and retrofitting of eight, 30'x96' (23,040 sq.ft.) pre-existing greenhouse frames and fully equipping them with an entire suite of equipment necessary for a successful cannabis cultivation site. "We were dissatisfied with the bare greenhouse structures installed by another company and their slow construction progress so we reached out to Next Generation Farming. They immediately responded with solutions to help us get our facilities up and running. Within three weeks, we've experienced a dramatic transformation in the structures, complemented by professionalism and a high level of expertise throughout the process. We are thrilled that we can finally accelerate and improve this project with Next Generation's help," stated Kyu Kim, Co-Founder and CFO of CompassLeaf LLC.

Sugarmade, Inc. (OTCPK: SGMD), one of the largest publicly traded hydroponics supply companies, yesterday announced the filing of a disclosure statement with the Securities & Exchange Commission concerning possible acquisitions by the Company. Sugarmade has begun formal acquisition negotiations with two companies that provide online and retail hydroponic and other agricultural cultivation supplies. Mr. Jimmy Chan, CEO of Sugarmade, commented, "The hydroponic supply sector is still highly fragmented with many of the larger players not likely to reach public company liquidity events for the original entrepreneurial teams. We have entered into talks with at least two of these companies for acquisition, which we believe will be highly accretive for common Sugarmade shareholders and additive to our already robust top line growth rate. We wanted to publicly disclose these discussions to ensure that all shareholders have equal access to our direction, thus our recent public filing."

Hemp, Inc. (OTCPK: HEMP), a global leader in the industrial hemp industry with the largest multipurpose industrial hemp processing facility in the western hemisphere, announced yesterday the company applauds Illinois Governor Bruce Rauner for signing Illinois' Industrial Hemp Act on Saturday, legalizing hemp in Illinois effective immediately. "Legalizing the farming of industrial hemp just makes good sense," Rauner said in a statement. "Roughly 38 states - including our neighbors in Wisconsin, Kentucky, Indiana, Missouri, and Tennessee - have allowed or are considering allowing cultivation of this crop for commercial, research or pilot programs. Our farmers should have this option as well." Illinois' Industrial Hemp Act goes into effect immediately, and according to the governor's office, allows for its use in paper, fabric, biodegradable plastics, construction materials, and health food. The Illinois Department of Agriculture will issue licenses to farmers who want to grow hemp and regulators will establish rules for THC-level testing of industrial hemp crops. The bill passed the state House of Representatives by a 106-3 vote, and the Senate passed it unanimously. Advocates of legalization say Rauner will create hundreds of jobs and up to $100 million in annual state revenue.

The Supreme Cannabis Company Inc.'s (TSX-V: FIRE) (OTCPK: SPRWF) wholly owned subsidiary, 7ACRES, has entered into supply agreements with the Nova Scotia Liquor Corp. (NSLC) and the PEI Cannabis Management Corp. (PEICMC) to supply recreational cannabis to their respective retail stores beginning Oct. 17, 2018. Nova Scotia and PEI become Supreme Cannabis's fifth and sixth provincial recreational partners alongside Ontario, British Columbia, Alberta and Manitoba. Supreme Cannabis joins a select group of leading cannabis companies that have secured supply agreements with five or more provinces to date, including: Canopy Growth, Aphria, Aurora, Tilray and Organigram.

DISCLAIMER: MarketNewsUpdates.com (MNU) is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. MNU is NOT affiliated in any manner with any company mentioned herein. MNU and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. MNU's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. MNU is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed MNU has been compensated twenty five hundred dollars for news coverage of the current press releases issued by Cannabis Strategic Ventures, Inc by a non-affiliated third party. MNU 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 MNU undertakes no obligation to update such statements.

Media Contact:
email: info@marketnewsupdates.com
+1(561)325-8757

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.