PALM BEACH, Florida, August 22, 2018 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
The most valuable sector of the Cannabis Industry may just be the extract of Cannabidiol (CBD), which has transformed into a wide variety of products ranging from health supplements to pet products. CBD based products have generated billions in revenue for leading Cannabis-based companies, creating a strong sense of luster as investors dissect the industry's true value. One of the emerging trends of CBD continues to be that of health supplements, especially as it relates to pets. The potential in this area is largely untapped, with Americans spending nearly $70 billion on their pets in 2017, according to the American Pet Products Association. This already strong and proven spending, combined with the revenues of CBD based products, poses a unique and powerful opportunity for those in these two spaces. Active companies in the Cannabis markets this week include Cannabis Strategic Ventures, Inc. (OTC: NUGS), Sugarmade Inc (OTC: SGMD), CV Sciences, Inc. (OTC: CVSI), Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON), Canopy Growth Corp (NYSE: CGC) (TSX: WEED).
Cannabis Strategic Ventures, Inc. (OTCPK: NUGS) BREAKING NEWS: Cannabis Strategic Ventures today announces the acquisition of The Asher House PET CBD brand from The Asher House LLC. Under the terms of the brand acquisition agreement, Cannabis Strategic Ventures will acquire controlling interest in the Asher House Pet CBD line, a line of U.S. hemp derived cannabidiol (CBD) supplements for pets, with increasing national attention.
"Through the Asher House acquisition, Cannabis Strategic continues to expand its already diverse portfolio of Cannabis focus brands and service offerings. At Cannabis Strategic, we believe that investing in people is as important as investing in industry-leading products and technologies." commented Mr. Simon Yu, CEO, of Cannabis Strategic. "Lee and Luke's passion for pet adoption and pet wellness is one of the key ingredients to Asher House's national recognition. We welcome Lee Asher and Luke Barton, the founders of Asher House, to the NUGS family.
The Agreement between the companies calls for Asher House to continue promoting the Asher House CBD brand nationwide while Cannabis Strategic provides the infrastructure to support enhanced marketing programs and the expected increases in product sales. Lee and Luke have recently obtained significant press coverage for their unique marketing strategy involving travelling throughout the United States in their motorhome with their six rescue dogs to promote pet adoption and the CBD product line. The Asher House was most recently covered by leading national outlets including the Washington Post, Playboy.com, and Fox.
"This company is our life calling and is about much more than simply profits. Our goal is to grow a healthy business while we promote pet health, safety and rescue." said Lee Asher, co-founder, of The Asher House. "We have introduced our products to thousands of pet owners throughout the United States. This is an important effort for us and we are very happy to have Cannabis Strategic as a partner that shares our ethics and goals." Read this and more news for Cannabis Strategic Ventures at: http://www.marketnewsupdates.com/news/nugs.html
Other recent developments in the cannabis industry include:
Sugarmade Inc (OTCPK: SGMD) closed Tuesday up 42.86% after more than 6 million shares were traded throughout the day. The company also announced a new corporate initiative in the booming hemp market. Sugarmade is committing up to $1,000,000 in capital over the next twelve months to invest in Hempistry, Inc. a privately held Nevada corporation, which has begun planting an ultra-high cannabidiol (CBD) industrial hemp strain in the U.S. State of Kentucky. Additionally, Sugarmade expects to sign an agreement with Hempistry for hemp cultivation supplies. Hempistry has already begun planting and has signed an agreement reserving up to 23,000 acres of prime Kentucky farmland for its exclusive use for hemp cultivation. Additionally, Sugarmade's CEO, Jimmy Chan, announces he has become an advisor to and a shareholder in Hempistry, Inc. According the Hemp Business Journal, the U.S. Hemp industry produced at least $820 million in revenues during 2017, with growth to over $1 billion for 2018, and an expected 14% compound annual growth rate through 2022. Much of the recent growth has come from the demand for hemp-derived CBD for use in health and wellness products. The strain of industrial hemp being grown by Hempistry is ultra-rich in CDB, but contains less than 0.3% of THC, the psychoactive ingredient found in marijuana. Hempistry has already begun planting and thus far has 100 acres of this high CDB strain under cultivation. In total, Hempistry has optioned 23,000 acres.
CV Sciences In c (OTCQB: CVSI) closed up 32.50% on Tuesday with a volume north of 11.6 million by the market close. The company recently announced the appointment of Joseph Maroon, MD, FACS ("Dr. Maroon"), to its Board of Directors. Dr. Maroon is a clinical professor and vice chairman of the Department of Neurological Surgery and the Heindl Scholar in Neuroscience at the University of Pittsburgh Medical Center (UPMC) and has held other positions at UPMC since 1998. He is a world-renowned neurosurgeon, and he brings his expertise in health, nutrition and wellness to expand the depth of medical and biotech leadership on the board. Dr. Maroon was previously a member of the Board of Directors and Chairman of the Scientific Committee of Mylan from 2005 to 2017. CV Sciences' Chief Executive Officer, Joseph Dowling commented, "We are pleased to have the support of Dr. Maroon as we continue the expansion and distribution of our hemp cannabidiol (CBD) brand, PlusCBD Oil™, and progress our drug development efforts. His extensive background as an expert in the field of health and wellness speaks volumes to his belief in the study of CBD as both a dietary supplement and pharmaceutical drug. Dr. Maroon's vision in alternative medicine is clearly aligned with our Company, and we are delighted to be adding his talents to our Board of Directors. His appointment also satisfies the listing requirements for an independent board majority and advances our plans for a Nasdaq uplisting."
Cronos Group Inc (NASDAQ: CRON) closed Tuesday up 13.25% with over 31.9 million shares traded by the market close. The company also announced its initial supply agreements for retail distribution, both government-operated and private, across Canada for the upcoming launch of the recreational market in October 2018. Cronos Group has secured listings and signed binding master supply agreements with both the Ontario Cannabis Retail Corporation and the BC Liquor Distribution Branch. In combination, these provinces encompass over 50% of the Canadian population and hence the potential customer base which the Company is prepared to serve. The Company has also secured listings and has accepted supplier terms with the Nova Scotia Liquor Corporation and Prince Edward Island Liquor Corporation. Cronos Group will be offering Dried Flower, Pre-Rolls and its highly rated Oils through both government-operated retail stores and online platforms across its three recreational brands.
Canopy Growth Corp (NYSE: CGC) (TSX: WEED.TO) came to a close up 3.01% with a volume north of 20.9 million. The company recently announced that through its wholly-owned subsidiary Tweed Inc., has been selected as an approved supplier by the Ontario Cannabis Store ("OCS") to supply a wide variety of cannabis products through its online store starting October 17th, 2018. Specific quantities will be disclosed once those details have been released by the province. In total, Tweed has successfully listed over 100 cannabis SKUs across multiple formats including pre-rolled joints, dried flower, oils, and softgel capsules. "Today marks another significant milestone for us as we've officially ensured Ontarians will have access to a huge variety of Tweed -branded products," said Mark Zekulin , President & Co-CEO, Canopy Growth. "With our private retail plan being rolled out in other provinces, our attention in Ontario will now turn to bricks and mortar shops in this key market."
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