PALM BEACH, Florida, August 30, 2018 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
The rapidly rising demand for Cannabidiol (CBD) and Hemp based products is showing no signs of slowing down as expectations to push both markets into new territories with exploding sales value in the next coming years. The global industrial hemp market size is expected to reach USD $10.6 billion by 2025, according to a new report by Grand View Research, Inc. and the market is anticipated to expand at a CAGR of 14.0%. The North American CBD market is primed for expansive growth across its three primary sectors, hemp-derived CBD, marijuana-derived CBD and pharmaceutical CBD. With recent developments and advancements in the hemp industry, farmers across the country are turning their attention to commercialization looking for the road to profitability. Increasing R&D activities to develop perfect agronomy and new genetics of crops to obtain high yield and improved product quality are expected to have a positive impact on CBD - Hemp production. Active Companies from around the market with current developments this week include: Marijuana Company of America, Inc. (OTC:MCOA), GrowLife, Inc. (OTC:PHOT), MPX Bioceutical Corporation (CSE:MPX) (OTC:MPXEF), Kush Bottles, Inc. (OTC:KSHB), Terra Tech Corp. (OTC:TRTC).
Marijuana Company of America, Inc. (OTCPK:MCOA) BREAKING NEWS: Marijuana Company of America, an innovative hemp and cannabis corporation, and its joint venture partner Global Hemp Group Inc. (CSE: GHG) (OTC:GBHPF) (FRANKFURT: GHG) (the "Partners") are pleased to provide an update on their CBD hemp farming joint venture in New Brunswick, Canada (the "Project").
Dryer Installation - Drying of the biomass is an important first step in the extraction of the cannabinoids from the hemp plant. The partners are pleased to announce that the Project's industrial scale dryer from Cann Systems was delivered last week and has now been installed.
The dryer holds multiple bins of material, for a total processing capacity of just over one tonne of fresh hemp biomass per load. Initial testing is in progress and will be completed by the end of this week. Once the biomass has been dried from this year's harvest, it will be stored until the implementation of the Cannabis Act on Oct. 17, 2018, at which time the biomass can be legally sold for extraction. Health Canada has recently issued a new Class Exemption to the Industrial Hemp Regulations that allows hemp cultivation license holders to legally harvest, dry and store flowers, leaves and branches prior to the passage of the Cannabis Act. Management is currently in discussions with potential offtakers for selling the dried biomass in bulk, as well as exploring potential strategies for toll extraction and the marketing and distribution of processed and refined oils.
Innovation in the Hemp Industry - It is now nearing harvest time at the New Brunswick Hemp Project. To maximize profit, it is important to harvest as much of the higher CBD content flowers and leaves as possible, without undue amounts of the low to no CBD straw (the stalk). This year's drought has complicated matters as the hemp plants have tended to be shorter than usual, and the weeds are taller as they were able to get a head start before the hemp began growing, although the hemp is still displaying very healthy and weighty inflorescence. These issues that are perceived as problems at they occur, may benefit the hemp plants which tend to produce more biomass as a result of stress from competition with weeds and the effects of the drought.
In order to succeed in the hemp industry, a certain amount of ingenuity and innovation is required more often than not. Our farming group is a good example of this ingenuity. Sometimes repurposing existing equipment on hand will work to achieve the required result. To combat the higher than normal weed height and to maximize the value of the harvest by taking just the most valuable parts of the hemp plant, a small harvesting trial was conducted by one of our farmers using an OXBO bean harvester. The bean harvester is able to strip the plant of all leaves and inflorescence, while picking up very little straw, which is ideal for this year's crop. Based on the positive results of this trial, the bean harvester will be used to complete the harvest of the entire 125 acres of hemp cultivated under the joint venture project with MCOA this year.
In non-drought years, other harvesting tools will be required and the innovative farmers of our group have already begun strategizing on potential solutions that will be applicable next year when the Partners move forward with an aggressive expansion strategy to significantly increase CBD acreage as well as fully exploit the whole hemp plant and process the straw for industrial applications. Read this and more news for MCOA at http://www.marketnewsupdates.com/news/mcoa.html
In the industry developments and happenings in the market this week include:
GrowLife, Inc. (OTCQB:PHOT), one of the nation's most recognized indoor cultivation product and service providers, recently announced that it has added a new hydroponics retail outlet in Los Angeles, California that will act as the company's West Coast e-logistics fulfillment center. The market for cannabis in California will hit $3.7 billion in 2018 alone, and that's expected to increase to over $5 billion by 2019, according to industry research firm BDS Analytics. As the second largest city in the United States, Los Angeles is well positioned to serve as a cannabis hub for the rapidly emerging cannabis market in California and the greater West coast. The store and fulfillment center, located at 15721 Ventura Blvd, Encino, CA 91436, has a long-standing hydroponics customer base as it was acquired through an asset purchase of intellectual property rights and lease transfer from GoGreen Hydroponics.
MPX Bioceutical Corporation (CSE:MPX) (OTCQB:MPXEF) reports financial results for its fiscal first quarter for the three month period ended June 30, 2018 and provides a general business update. A few Operational and Financial Highlights for the Fiscal First Quarter of 2019 include: >> Total revenues of $14.5 million for the fiscal first quarter of 2019 versus $4.5 million for the fiscal first quarter of 2018 up 224% >> Quarter-Over-Quarter revenue growth of 81% to $14.5 million, up from $8.0 million in the fiscal fourth quarter of 2018 >> Opened third Health for Life dispensary in the Phoenix, Arizona metropolitan area >> Completed relocation of Mesa, Arizona processing and production facility to new location in North Mesa, Arizona >> Received final licensing approval from Maryland Medical Cannabis Commission to operate the first dispensary in Maryland under the Health for Life brand. Approval for the opening of two additional dispensaries in Maryland was received subsequent to the quarter end.
Kush Bottles, Inc. (OTCQB:KSHB), a leading provider of packaging, supplies, vaporizers, hydrocarbon gases, solvents, accessories and branding solutions for the regulated cannabis industry, announced this week that it has opened a new warehouse facility in Worcester, Massachusetts to serve as the Company's east coast hub and to support businesses entering the industry or expanding operations within the east coast market. Strategically located outside of metro Boston, in Worcester, the new warehouse represents the largest facility operated by the Company to date. The new facility positions Kush Bottles as the market leader in providing ancillary solutions for the medical and adult-use states in the region, and stands ready to scale accordingly as more states transition from medical to adult-use.
Terra Tech Corp. (OTCQX:TRTC) this month announced that its subsidiary, Edible Garden, a nationwide provider of fresh, locally-grown herbs and leafy greens, has been selected by Stop & Shop and Giant-Landover to supply organic leafy greens to their retail outlets. The first orders of Edible Garden's organic leafy greens to both new customers will be shipped in the fourth quarter of 2018. Edible Garden is a national brand grown by a co-op of local growers of fresh, hydroponic herbs and produce whose process utilizes all natural, classic Dutch hydroponic farming methods providing its customers with healthy and natural products. Edible Garden's superior-quality products are GFSI certified, Non-GMO Project Verified, Certified Kosher and free from pesticides, herbicides, residues or contaminants.
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