Financialnewsmedia.com News Commentary
PALM BEACH, Florida, Feb. 21, 2019 /PRNewswire/ -- U.S. and Canadian cannabis companies, witnessing the CBD-rush, have started developing their own strategies to tap the plant's potential. Just recently, Canopy Growth Corp. announced it would spend $150 million to set up a hemp facility in New York state, where hemp-derived CBD would be extracted and sold to consumers there. If CBD becomes one of the biggest priorities for a cannabis company in North America, then many believe going the hemp route could just be the cheaper option. An increasing number of wellness products are now promoting CBD, a part of the cannabis plant proponents say is rich in medical benefits as an anti-inflammatory and anxiety reducer. Emboldened by the federal legalization of hemp — from which many CBD products are based — oils and CBD-infused waters have started showing up in local stores and even restaurants. Active companies in the markets this week include The Yield Growth Corp. (CSE:BOSS) (OTC:BOSQF), VIVO Cannabis Inc. (TSX-V: VIVO) (OTC: VVCIF), Emerald Health Therapeutics, Inc. (TSX-V: EMH) (OTC: EMHTF), iAnthus Capital Holdings, Inc. (CSE: IAN) (OTC: ITHUF), CV Sciences, Inc. (OTC: CVSI).
In a recent Motley Fool article it was reported China led all countries in 2018 with almost $1.2 billion in hemp sales, followed by the U.S. at $1 billion, all of Europe at $980 million, and the combination of Central and South America at $220 million. However, by 2022, New Frontier Data's report estimates U.S. hemp sales will have jumped to $2.6 billion, representing a compound annual growth rate of 27%. Of this $2.6 billion in hemp sales, half ($1.3 billion) will be generated from hemp-derived CBD products.
The Yield Growth Corp. (CSE:BOSS) (OTCPK:BOSQF) BREAKING NEWS: Yield Growth Corp is pleased to announce that it has completed formulations and initial testing for 10 new products to be infused with cannabinoids: 4 facial skin care products, 4 essential oil wellness blends and 2 foot creams.
Yield Growth subsidiary Urban Juve has developed 4 new products that it intends to add to the Urban Juve product line later this year. These include an eye cream, a cream cleanser, a liquid face cleanser and facial cleanser pads. Each of these products has been created using the highest quality natural ingredients.
Further, Urban Juve has developed 4 exotic essential oil wellness blends for everyday use. These blends contain Urban Juve's patent pending hemp root oil which promotes superior transdermal absorption. They are tentatively entitled "Energy Boost", "Headache", "Sleep" and "Stress". All are designed to easily be blended with THC or CBD oils… … Yield Growth subsidiary UJ Topicals has developed two foot creams that are intended to be infused with cannabinoids. The first is intended to relieve pain and provide moisturizing for dry, cracked feet. The second cream is intended to contain a higher concentration of THC to relieve pain from blisters, bruises, inflammation, sore heels, bunions, corns or calluses. UJ Topicals next steps are to infuse the creams with THC through licensed cannabis manufacturers so that the products can be brought to market. Read this and more news for The Yield Growth Corp. at: https://www.financialnewsmedia.com/news-boss
Other recent developments and major influences in the healthcare/biotech industry include:
Pyramidion Technology Group, Inc. (OTCPK:PYTG) On February 20, the company announced that during the final quarter of 2018, Pyramidion Technology Group, Inc. (PYTG) (PYTG) acquired NxGen Brands, LLC and became the proud owner of LeafyWell (LeafyWell.com), and shortly thereafter announced the finalization of a contractual agreement to provide custom cannabidiol (CBD)-product formulations to Emergent Health, Corp., including the first product of its kind for both companies consisting of an ingredient trifecta designed to aid in sleep, anxiety, and mood: CBD, Melatonin, and GABA. Additionally, during the final quarter of 2018, PYTG announced the execution of a binding letter of intent to acquire Renaissance Health Publishing, LLC. – a private Florida-based company specializing in health and wellness supplements.
Carlos Hurtado, CEO of PYTG, stated, "We anticipate that our current shareholders will be equally elated to learn the news that we are on target to successfully surpass our final-quarter 2018 revenues of our CBD hemp-derived supplements, including those manufactured by LeafyWell, solely during this short period of time in 2019. As a company, we expect to continue to move forward on many fronts, and we expect that this news is just the tip of the iceberg of what is ahead in a big way."
VIVO Cannabis Inc. (TSX-V: VIVO) (OTCQX: VVCIF) On February 11, the company, a licensed cannabis producer offering premium medical and adult-use products and services, announced that the Company's subsidiary, ABcann Medicinals Inc. ("ABcann"), has received approval from Health Canada for its most recent license amendment request allowing for the sale of cannabis oil.
The cannabis oil sales license allows the Company to significantly expand its product lines for medical cannabis patients and adult-use consumers. ABcann's high-quality oil products are expected to be a core component of the Beacon Medical™ and Lumina™ brands, in addition to the cannabis oil already offered by the Company's Canna Farms™ brand.
Emerald Health Therapeutics, Inc. (TSX-V: EMH) (OTCQX: EMHTF) On February 20, the company announced the launch of Verdélite Sciences Inc. ("Verdélite"), a wholly-owned, Québec-based production subsidiary licensed by Health Canada. Formerly known as Agro-Biotech, Verdélite currently produces high-grade dried cannabis for medical and adult-use purposes.
Emerald is nearing completion of its over $100 million investment to secure and expand its multi-purpose facility to 88,000 square feet and enable the complete cycle of indoor cultivation, product development and automated packaging of cannabis products. Upon reaching full production levels in mid-2019, Verdélite projects it will have created approximately 140 jobs.
iAnthus Capital Holdings, Inc. (CSE: IAN) (OTCQX: ITHUF) On February 20, the company, which owns, operates, and partners with best-in-class regulated cannabis operations across the United States, announced that it has opened its second New York dispensary, located in the Dutchess County town of Wappingers Falls. The dispensary will operate as "Citiva Hudson Valley" under iAnthus' "Citiva" New York dispensary brand.
The 2,600 sq. ft. dispensary is located at 1147 Route 9 in Wappingers Falls, a short drive from Beacon Train Station on the Metro-North Railroad, Marist College, Vassar College, and a collection of New York historical sites. The retail location initially will offer more than 30 locally-sourced, lab-tested products, including vape cartridges, tinctures, capsules, and powders, dispensed by highly-knowledgeable patient care representatives.
CV Sciences, Inc. (OTCQB: CVSI) On February 20, the company, a preeminent supplier and manufacturer of industry-dominating hemp CBD brand, PlusCBD Oil™, announced that its best-selling product, PlusCBD Oil™ Gold Softgels, has been named a "Top Pick" by ConsumerLab.com, LLC (CL), a leading provider of independent test results for the supplement industry. PlusCBD Oil™ Gold Softgels received this recognition based on the product's industry-leading purity and value, as well as its label accuracy.
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