PALM BEACH, Florida, November 30, 2017 /PRNewswire/ --
Without the influence of CBD Oil and Cannabis infusion, according to Markets and Markets , the nutraceutical ingredients market alone is projected to grow at a CAGR of 7.5% from 2016 to 2022 to reach USD 445.58 Billion by 2022. Cannabidiol (CBD) is projected to be a billion-dollar market in just three years, according to a new report by Brightfield Group. The data company estimates that hemp CBD sales have already hit $170 million in 2016 and a 55% compound annual growth rate over the next five years will cause the market to crack the billion-dollar mark. Combining the two together, the infusion of nutraceuticals into the CBD - Cannabinoid space is providing new opportunities for enhanced revenues and global distribution. Active companies this week in the cannabis industry include: CNRP Mining Inc. (OTC: CRPGF) (CSE: CND), Liberty Leaf Holdings Ltd. (CSE: LIB.CN) (OTC: LIBFF), Future Farm Technologies Inc. (CSE: FFT.CN) (OTC: FFRMF), Tetra-Biopharma Inc. (TSX-V: TBP.V) (OTC: TBPMF), OrganiGram Holdings Inc. (TSX-V: OGI.V) (OTC: OGRMF)
CNRP Mining Inc. (OTCQB: CRPGF) (CSE: CND.CN) is pleased to announce that X-SPRAYS has signed an exclusive distribution agreement with a national distributor of consumer packaged goods in Europe (the "Distributor"). Under the terms of the agreement the Distributor will supply X-SPRAYS products to the following countries: Germany, Austria and Switzerland. Read this and more news for CRPGF and its X-Sprays products at http://www.marketnewsupdates.com/news/crpgf.html.
The Distributor has a 10-year history and multiple existing retail channels, including pharmacies, drug stores and a robust online presence. X-SPRAYS products will be supplied leveraging the Distributor's extensive network and this partnership provides X-SPRAYS with unique access to the European market. The Company will begin shipping products to the Distributor in early Q1-2018, pending necessary approvals. With a population exceeding 82 million people and federal insurance coverage for cannabis, Germany represents the world's largest legal cannabis market.
"We are excited to have partnered with an established and recognized leader in the European consumer packaged goods marketplace. This agreement allows us to utilize an existing network with wide reach to immediately create a presence in the world's largest federally legislated medicinal cannabis market," said Mr. John Knapp, CEO of X-SPRAYS.
In other industry development and happens around the market:
Liberty Leaf Holdings Ltd. (CSE: LIB.CN) (OTCQB: LIBFF) (CNQ: LIB) this week, the company announced the appointment of Mr. Doug Macdonell to its Board of Directors. Mr. Macdonell is a retired RCMP officer and recognized expert in the field of cannabis and cannabis cultivation. During his extensive RCMP career, he initiated and supervised legal marijuana grow facilities in Vancouver and Edmonton for the purpose of training RCMP and City Police personnel to become specialists in the cannabis industry. In addition to training law enforcement, Mr. Macdonell is recognized as an expert witness in cannabis, cannabis production and distribution at all levels of the Canadian court system. He has lectured extensively to other agencies such as the Drug Enforcement Agency in the U.S. and the Department of Justice Personnel in Canada. Since retiring from the RCMP, Mr. Macdonell has served two terms as a City Councillor for the City of Coquitlam and has sat on the Boards of several civic organizations.
Future Farm Technologies Inc. (CSE: FFT.CN) (OTCQB: FFRMF) (CNQ: FFT) announced this week that it has closed on the previously announced acquisition of a 120-acre industrial hemp farm in Amity, ME. With this acquisition, Future Farm is now strategically positioned in both the fast-growing hemp market as well as the cannabis market. Future Farm expects to harvest 1,700 plants per acre of the 120-acre farm, which translates into approximately 10-kilos of CBD distillate per acre, which further translates into $90,000 per acre in revenue, or on 120-acres projected revenue of $10,800,000.00. With Maine's current favorable economic climate for hemp in place, the Company is moving aggressively to acquire more land and is in discussion with existing farm operators to farm another 200-acres of organic hemp on existing farmland in Maine.
Tetra-Biopharma Inc. (TSX-V: TBP.V) (OTCQB: TBPMF) (CDNX: TBP) recently announced that it is partnering with a major manufacturer of controlled active pharmaceutical ingredients (APIs) in the USA for the manufacturing of Dronabinol XL AdVersa® as the Company accelerates its plans to submit a 505(b) (2) New Drug Application (NDA) for the treatment of chemotherapy-induced nausea and vomiting (CINV) and anorexia associated with weight loss in patients with AIDS. According to market research by the International Agency for Research on Cancer 2, the global chemotherapy-induced nausea and vomiting (CINV) market will reach a valuation of US$1.88 bn by 2020, rising from its 2013 valuation of US$1.28 bn. Based on the expected improved safety profile of a delayed release Dronabinol, Tetra expects that the Adversa® tablet can gain an important share of this market within three (3) years of its launch in the USA, with sales of Adversa® that could potentially reach $30,000,000 USD at the end of the third year of sales.
OrganiGram Holdings Inc. (TSX-V: OGI.V) (OTCQB: OGRMF) (CDNX: OGI) announced yesterday it launched The Edison Project. The Edison Project is an initiative designed to produce and offer Organigram patients the very highest quality flower possible using the latest in technology and industry best practices. "The Edison Project represents our very best work to date," says Ray Gracewood, Organigram's Chief Commercial Officer. "We're most proud of these strains of medicine because they're a product of our intensive research on the biology of cannabis and continuous improvement in production. We've adopted a culture of refusing to settle at Organigram; it's evolved such that we've come to discover more about the true potential in our plants and we've learned how to deliver the benefit of that potential to our patients."
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