Financialnewsmedia.com News Commentary
PALM BEACH, Florida, April 16, 2019 /PRNewswire/ --A well-respected purveyor of cannabis industry reports, the Brightfield Group, is not shy about making projections. Not only do they comment on projected revenues, they also look at where the industry is going and how it will get there. They have recently pointed to a previously closed vertical. They said: "that retailers big box retailers, are "Going after CBD" Hard! If you read their report its easy to see why a recent report said: "New Report Predicts CBD Market Will Hit $22 Billion by 2022. A new analysis estimates that the CBD market could explode — and outpace marijuana." The company also said on its website that: "CBD is growing faster than cannabis in the U.S. and will soon be a $22 billion industry. Its been flying under the radar but is set to explode having profound impacts on CPG and Pharma. We detail the category growth rates, leading brands, product innovation by segment. Big Box is ready confirms another source: "since CBD for medical use is legal in 46 states and CBD derived from hemp rather than marijuana (it, CBD) is legal in all states. Recently, this past month of March, CVS announced that it will: "begin selling hemp-derived CBD products in eight states. The national drug store chain will be marketing the topical cannabidiol products, such as creams, sprays and roll-ons, as "an alternative source of relief," CVS said in a statement to NBC News. CVS will also be partnering with a company to test and verify the quality of the CBD topicals sold in its drug stores." NBC News reported that: "CVS to sell CBD products in 800 stores in 8 states. We are carrying hemp-derived CBD products in select states to help meet consumer demand for alternative care options," said CVS Health Spokesperson, Mike DeAngelis. The items will be sold in Alabama, California, Colorado, Illinois, Indiana, Kentucky, Maryland and Tennessee." "It's a way to reduce the stigma for a product that really doesn't deserve to be stigmatized," said a nutritionist and cannabis practitioner. Active Companies from around the market with current developments this week include: The Greater Cannabis Company (OTC: GCAN), CBD Unlimited, Inc. (OTC: EDXC), Aphria Inc. (NYSE: APHA) (TSX: APHA), Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB), Valens GroWorks Corp. (CSE: VGW) (OTC: VGWCF).
Consumers are interested in CBD and that interest is growing and retailers are noticing. A recent opinion poll said: "three-fourths (of respondents) associated (CBD) with at least one health benefit." The poll went on to show: "As consumers' opinions become increasingly positive, they are exploring other compounds of the cannabis plant, including CBD. Fifty-eight percent of survey respondents said they are somewhat, very, or extremely familiar with CBD, while only 14% had never heard of it. Men are more familiar with CBD than women, with 65% reporting at least some familiarity compared to 51% of women. Adults in age cohorts 25-34 and 34-44 are the most aware, with 70-71% in each group reporting at least some familiarity. Survey members living in the Northeast reported the highest level of awareness of any region, followed by the West. Of respondents who have tried CBD, 48% used an oil extract. Vape pens was the second most popular CBD-infused product at 37%, followed by edibles (36%), and capsules/pills (29%). Among adults in age cohort 18-24, vape pens were the most popular form of CBD use, whereas oil extracts were most popular for all other age groups.
The Greater Cannabis Company, Inc. (OTCQB: GCAN) BREAKING NEWS: The Greater Cannabis Company, a market leader and innovator in the development and commercialization of cannabinoid delivery systems, today announced it has entered into a letter of agreement (LOI) with a major Brazilian retail pharmacy company, CBR Participacoes SA, to market Greater Cannabis Company's eluting patch technology for cannabis in Brazil.
As part of the agreement, CBR Participacoes will distribute the technology to its network of 300 pharmacies and more than 1,500 point-of-sale retailers in the country, serving the Brazil's growing demand and market for cannabis products. The agreement is effectively immediately through 2021.
"We continue to see explosive interest and growth for our technology in Brazil as the country's cannabis market continues to expand at an exponential rate," said Aitan Zacharin, Chief Executive Officer of Greater Cannabis Company. "Our new licensing agreement with CBR Participacoes taps into this and will represent the first of many additional agreements we are currently pursuing," concluded Mr. Zacharin.
Cannabidiol (CBD) has been legalized for therapeutic use since 2015 in Brazil, the largest country in both South America and Latin America. The country began allowing import of CBD oil in products that have potential medical benefit later that year and has continued to advance its legislation and legalization of cannabis to date. Greater Cannabis Company's eluting patch technology meets a global demand for alternative methods of cannabis administration and has demonstrated stability and bioavailability across a broad range of lab studies conducted by the Company. The Company believes it is poised for significant market growth and traction in Brazil as its government is increasingly approving the use of CBD and cannabis products by its citizens.
"After a thorough and diligent search and testing process, we found that Greater Cannabis Company would be the ideal partner for us due to its combined technology, knowledge and expertise in cannabis business and products," said Rogerio P. Rabello, Chief Executive Officer of CBR Participacoes SA. "Although there are many innovative and promising solutions in the market, we believe GCANRx's technological advantages are far advanced and will prove to be critical to ensuring the success of a mutually beneficial and long-term relationship," concluded Mr. Rabello. Read this and more news for GCAN at: https://www.financialnewsmedia.com/news-gcan/
In the industry developments and happenings in the market this week include:
CBD Unlimited, Inc. (OTCPK: EDXC) formerly known as Endexx Corporation (EDXC), a provider of innovative phytonutrient-based food and nutritional products, recently announced that the company has completed the production of 7.5 million wholesale products to meet initial demand requirements.
CBD Unlimited recently completed another record-breaking quarter with company projections to hit greater milestones this year. CBD Unlimited has illustrated its ability to produce product at full-scale levels and will continue to expand its full-scale production capabilities as demand continues to increase. The company expects demand to accelerate every quarter over the next 2 years.
"Last year, we grew CBD Unlimited's distribution to over 1,000 distribution channels. With full-scale production capabilities, we are confident that we will reach at least 5,000 by 2020," commented CEO & Chairman Todd Davis. "With the recent passage of the Farm Bill in December 2018, we are seeing an increase in our national product reach and will be able to deliver to meet these high demand levels."
Aphria Inc. (NYSE: APHA) (TSX: APHA) recently reported its results, for the third quarter and nine months ended February 28, 2019 . All amounts are expressed in thousands of Canadian dollars, unless otherwise noted and except for per gram, kilogram, kilogram equivalents, and per share amounts.
"I am proud of the efforts of our over 1,000 employees worldwide as we continue to position Aphria for future growth and success in the global medical and adult-use cannabis industry," stated Irwin D. Simon, Aphria's Chairman and Interim Chief Executive Officer. "Our organization has experienced significant change in a very short period of time which was necessary to propel the Company forward. Our Board of Directors and executive team will remain focused on the advancement of Aphria's leadership position in the global cannabis industry and we are pleased to have announced today the appointment of two new independent directors. Aphria will continue to drive sustainable long-term shareholder value by leveraging its strong brand positioning, superior distribution model, product innovation, industrial scale cultivation and automation, medical-use leadership and strategic global platform."
Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB:TO) recently announced an update on the status of Aurora Sun, the Company's latest and largest Sky Class facility, which is currently under construction in Medicine Hat, Alberta. To support rapidly growing global demand for high-quality medical cannabis in Canada and abroad, the facility will be expanded to 1.62 million square feet, representing a 33% increase from its originally planned 1.2 million square feet. With the Sky Class production philosophy proven at Aurora Sky, the Company is confident in projecting an expected production capacity at Aurora Sun in excess of 230,000 kg of high-quality cannabis per annum.
Aurora's Sky Class facilities are the most technologically advanced in the world. They are not greenhouses, but purpose-built, indoor cannabis grow facilities that create the most optimal growing conditions for cannabis. A sophisticated glass roof, rainwater and snow melt recapture system, and a high-level of technology and automation give Aurora full control over all anticipated environmental and harvest conditions, resulting in the production of consistently high yielding, high-quality cannabis at low-cost.
Valens GroWorks Corp. (CSE: VGW) (OTCQB: VGWCF), a multi-licensed provider of cannabis products and services focused on various proprietary extraction methodologies, distillation, cannabinoid isolation and purification, as well as associated quality testing, recently announced that it had closed its previously announced bought-deal prospectus offering (the "Offering"). The Offering was led by AltaCorp Capital Inc. as lead underwriter and sole bookrunner, along with a syndicate of underwriters, including GMP Securities L.P., Raymond James Ltd., Haywood Securities Inc., and Mackie Research Capital Corp., (together with AltaCorp Capital Inc. the "Underwriters"), pursuant to which the Company issued an aggregate of 14,618,644 units of the Company (the "Units") at a price of $2.95 per Unit (the "Offering Price"), which included the full exercise of the Underwriters' over-allotment option for aggregate gross proceeds to the Company of $43,125,000.
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