Financialnewsmedia.com News Commentary
PALM BEACH, Florida, Aug. 1, 2019 /PRNewswire/ -- Major retail chains like CVS and Walgreens are expected to drive further CBD sales growth this year, according a The Brightfield Group. By year's end, the CBD industry is expected to become a $5 billion industry – a 700% year over year increase from 2018. The analysts also expect for the total U.S. CBD industry to be worth $23.7 billion in the next four years. The CBD market has been growing rapidly, but we will see unprecedented growth in 2019," Brightfield Managing Director, Bethany Gomez said. "The bulk of this growth is coming from large retailers like CVS, Walgreens, and Kroger entering the market and providing that availability to consumers." Other major retailers are jumping on board, as well, including Neiman Marcus, Sephora, Vitamin Shoppe, Kroger, Barney's, and DSW. That's opening a wide range of opportunity for companies including The Yield Growth Corp. (OTCQB: BOSQF) (CSE: BOSS), Canopy Growth Corporation (NYSE: CGC) (TSX: WEED), High Tide Inc. (OTCQB: HITIF) (CSE: HITI), SLANG Worldwide Inc. (OTCPK: SLGWF) (CSE: SLNG) and HEXO Corporation (NYSE: HEXO) (TSX: HEXO).
The Yield Growth Corp. (CSE:BOSS) (OTCQB:BOSQF) BREAKING NEWS: The Yield Growth Corp. announced it entered into a definitive agreement dated July 31, 2019 to a non-exclusive license for the worldwide rights for eight hemp product topical formulas to Antler Retail Inc. Antler intends to launch a men's line with these eight licensed formulas for hair pomade, beard oil, shaving cream, deodorant and four essential oil colognes. It has already started designing an advertising campaign to target men, who are the largest users of CBD products, according to a recent study. Antler's California subsidiary previously acquired licenses for 56 product formulas for the California market from Yield Growth. After developing testing and packaging plans with Yield Growth, Antler now wishes to expand its license for eight of the products for rights to worldwide distribution. For a fee of $800k payable to Yield Growth payable in stock of Antler, provides non-exclusive worldwide licensing rights to the following men's products developed by Yield Growth: hair pomade, beard oil, shaving cream, deodorant and 4 essential oil colognes. Yield Growth anticipates it will generate additional revenues through the license as the agreement contemplates that Yield Growth will provide packaging, marketing, manufacturing and distribution services to Antler for the men's line. The agreement contemplates that the license fee may be paid in stock but other fees are to be paid in cash on a monthly basis. FOR MORE INFORMATION ON BOSS, PLEASE VISIT: https://yieldgrowth.com/
Other cannabis-related developments from around the markets include:
Canopy Growth Corporation (NYSE: CGC) (TSX: WEED) received a new license from Health Canada permitting it to grow cannabis at an outdoor site in northern Saskatchewan. Hours after receiving the license, the first cannabis cuttings were planted at a 7 million sq. ft. (160 acres) secure cultivation field in the province, one that is patrolled by drones (kidding – no drones, promise.) The new license expands Canopy Growth's diversified Canadian footprint and complements its existing indoor and greenhouse facilities to provide a leading balance of facilities to produce low cost input materials for value-add products, while ensuring more sophisticated growing operations for in-demand flower products. "Our team has outdoor, at-scale cannabis expertise gained from over a decade of hemp farming experience, including Canopy's 4,000-acre hemp operation executed last year, the extract of which is bolstering our CBD supply for the medical and recreational markets," said Mark Zekulin, President and co-CEO, Canopy Growth. "At this stage in the summer planting season we view this as a pilot and ramp up project for outdoor cannabis cultivation, though the team will do everything it can to deliver low cost yields this year."
High Tide Inc. (OTCQB:HITIF) (CSE:HITI) just announced that the Canna Cabana retail stores located at Unit #116, 5305 Magasin Avenue in the city of Beaumont, a franchised store located at Unit #105, 330 10 Street NW in Calgary and at 5022 50 Street in Lacombe all received their first deliveries of cannabis products from Alberta Gaming, Liquor and Cannabis and have begun selling recreational cannabis for adult use. The New Alberta Stores bring the total number of Canna Cabana retail locations currently selling recreational cannabis to a total of 14 branded locations across Canada. High Tide expects its next 7 Canna Cabana locations and the first KushBar location to be licensed as retail cannabis stores by the end of August, which will bring its total number to 22 locations across Canada, barring any changes to the current rate of licensing by AGLC. "Bringing the Canna Cabana experience to the community of Kensington in Calgary and the cities of Beaumont and Lacombe not only supports the expansion of High Tide's retail segment but it also boosts the wholesale segment as these locations feature our wide range of proprietary smoking accessories," said Raj Grover, President and Chief Executive Officer of High Tide. "Our staff is excited to sell recreational cannabis products at the New Alberta Stores and we look forward to continuing the rapid rate of growth that has taken Canna Cabana from 4 to 10 Alberta locations within a month," added Mr. Grover.
SLANG Worldwide Inc. (CSE:SLNG) (OTCPK:SLGWF) just announced it is entering the European Union starting with Greece through a partnership with Global Cannabis Corp. GCC's wholly owned subsidiary, GCC Pharma S.A. is one of the first companies to receive a medical cannabis installation license from the government of Greece for cannabis cultivation, processing and manufacturing. SLANG has worked closely with GCC throughout the application process and has been instrumental in assisting GCC with the design and content of its license application. In exchange for the contribution of SLANG's specialized expertise, and continuing support, SLANG has been granted a 20% interest in GCC. SLANG intends to leverage its relationship with GCC to introduce its brand portfolio to the European Union, with products in market in 2020. The Company expects to collect licensing revenues in Greece similar to its partnerships in the United States. "The addition of GCC to SLANG's partner network is a major milestone in our global expansion strategy," said Peter Miller, CEO of SLANG. "This partnership can help lead to the awareness of our brands in new and key markets while leveraging the capital-light growth model that Slang has optimized in the United States."
HEXO Corporation (NYSE:HEXO)(TSX:HEXO) cannabis products are now available to Alberta consumers for the first time after finalizing an agreement between HEXO and Alberta Gaming, Liquor and Cannabis (AGLC). The agreement provides AGLC with HEXO's nine dried flower products and award-winning Elixir oral sprays, making them available on the Alberta Cannabis online store and to all of the nearly 200 private retail stores in the province. "This agreement marks the latest achievement in the development of HEXO's presence in Western Canada and our goal to be top two in market-share in the country," said HEXO Corp CEO and co-founder, Sebastien St-Louis. "Alberta represents one of the largest cannabis markets in Canada and we are thrilled to see our products are available to Albertans across the province." With HEXO and Up Cannabis brands, HEXO products are available in nine provinces, expanding the Company's footprint in Canada and providing more choice for consumers.
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