PALM BEACH, Florida, November 8, 2017 /PRNewswire/ --
Published in a recent report released by Freedonia Group , World demand for nutraceutical ingredients is forecast to increase 6.4 percent annually to $28.8 billion in 2017. The best growth prospects will exist in substances with clinically supported health benefits and broad applications in foods, beverages, dietary supplements, and adult and pediatric nutritional preparations. More and more individuals are now recognizing that Cannabinoid-Cannabidiol (CBD) is a unique nutraceutical that offers an unprecedented range of usefulness. The CBD oil industry believes pure CBD isolates are the future. Active companies this week in the cannabis industry include: CNRP Mining Inc. (OTC: CRPGF) (CSE: CND), Cannabix Technologies Inc. (CSE: BLO) (OTC: BLOZF), Canopy Growth Corporation (TSX: WEED) (OTC: TWMJF), Supreme Pharmaceuticals Inc. (TSX-V: FIRE) (OTC: SPRWF), SugarMade Inc. (OTC: SGMD)
CNRP Mining Inc. (OTCQB: CRPGF) (CSE: CND.CN) is pleased to announce that X-SPRAYS has launched a test market for two of its products with a group of Denver, Colorado based medical and recreational marijuana dispensaries. The test market is expected to last three months, after which the Company will provide an update on the sales and performance of the products. The products that will be subject to the test market are: 300mg CBD and Sleep with CBD. Read this and more news for CRPGF and its X-Sprays products athttp://www.marketnewsupdates.com/news/crpgf.html
About X-SPRAYS - X-SPRAYS is comprised of dedicated scientists and product engineers who are passionate about health and creating the ultimate delivery system for optimal nutrition. The company has focused its efforts in creating a product line of oral sprays to deliver medicines, nutrients and vitamins. To date, X-SPRAYS has developed a novel line of 8 health care and life enhancement nutraceutical products focused on enhancing pain relief, awareness, sleep, libido, energy and recovery. The Company's product line is ready for commercialization with 8 novel sprays that include both hemp cannabidiol (CBD) and nutraceutical ingredients (4 with CBD and 4 nutraceutical). X-SPRAYS intends to expand its product line to include cannabis Tetrahydrocannabinol (THC) and CBD sprays.
In other industry development and happens around the market:
Cannabix Technologies Inc. (CSE: BLO.CN) (OTC: BLOZF) recently announced it has filed several Patent Cooperation Treaty ("PCT") applications related to product development innovations over the last several months. Some of the PCT applications are for a marijuana focused Ignition Interlock device. An Ignition Interlock Device ("IID") requires a driver to blow into an installed device confirming the driver is not impaired before the vehicle will start. Many countries are requiring an IID as a condition for drivers convicted of driving under the influence of alcohol and drugs, especially repeat offenders. Courts typically mandate drivers who have received multiple alcohol impaired driving convictions to install IIDs and drivers are required to provide a breath sample before a vehicle can be started, in addition to intermittent re-sampling during longer trips. In the U.S. and Canada, most states and provinces have approved some form of IID use. Additionally, families are voluntarily choosing to install ignition interlock systems in their vehicles to help guard against new or young drivers from driving under the influence of alcohol and drugs.
Canopy Growth Corporation (TSX: WEED.TO) (OTC: TWMJF) this week announced it has signed a definitive licensing agreement with Farm to Farma Inc. (FTF) for FTF's innovative Trokie lozenges. Under this licensing agreement, Canopy Growth will have the exclusive right to manufacture and distribute FTF's Trokie lozenges through its subsidiaries in Canada, as permitted by federal regulations, and shall have a first right of offer for all other countries where federally lawful, and excluding the United States. Developed by a doctor of pharmacy, Trokie lozenges have been developed to deliver a consistent and repeatable dose of cannabis to its users. Trokie features the most used polymer-based drug delivery system which allows for a zero-calorie product that avoids most common food allergies. There are no gluten, nuts, artificial flavours or colours, and the product meets vegan standards, utilizing many organic/natural ingredients.
Supreme Pharmaceuticals Inc. (TSX-V: FIRE.V) (OTC: SPRWF) announced this week its 7Acres has commenced production in the newly constructed flowering rooms recently approved by Health Canada. Yesterday, over 3,000 plants of a specially selected phenotype of cannabis called Wappa were hand-transplanted into the first of three 10,000-square-foot flowering rooms. Wappa was selected for the inaugural planting due to its favourable early-stage market feedback, growth characteristics and terpene content. The transplanting was completed in a single-day process, required to ensure the uniformity of the end product. The remaining 20,000 square feet will be fully planted over the balance of November, 2017, increasing 7Acres' anticipated annual output capacity to over 5,000 kilograms per year.
SugarMade Inc. (OTC: SGMD) closed up over 34% on Tuesday with over 5.4 million shares traded on the day. Last week, the company announced a realignment of its business direction and outlines negotiations currently underway to significantly expand its business operations within the fast growing cannabis sector. The Company had entered into late stage negotiations with two companies regarding possible acquisition or merger and has entered into other discussions with potential financing sources to facilitate these transactions. "We are especially excited because the cannabis-related acquisition will be highly accretive to share value for current holders of Sugarmade. With California legalization of cannabis only about 60 days away, we are very pleased to be expanding our operations in several different ways," commented Jimmy Chan, CEO of Sugarmade. "The successful completion of this acquisition will make Sugarmade one of the largest, if not the largest, publically traded supplier to the hype-growth cannabis sector. We have already begun to make an impact on the sector through the pending introduction of BudLife™, the world's first patented storage containers for long-term cannabis storage."
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