Cannabidiol (CBD) Growth Momentum Continues to Climb as Latest Products Infiltrate Mainstream Markets
PALM BEACH, Florida, September 6, 2018 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
Recent data extracted by Technavio estimates the global CBD market will grow at a CAGR of 31% through 2022, continuing the industry's trend as one of the more consistent sectors in the area of growth. As of 2017, the market was valued north of $200 billion with a significant portion of the growth due in large part to increasing adoption among mainstream consumers. Other significant factors influencing the growth include product diversification by industry leaders, as well as a turn of the tide in the realm of regulation and legalization. An extract of Cannabis, CBD has proven its versatility for a wide variety of uses and there is no denying its enormous popularity that has emerged in a short period of time. Active cannabis companies in the markets this week include Integrated Cannabis Company, Inc. (CSE:ICAN) (OTC:ICNAF), Valens GroWorks Corp. (CSE:VGW), Namaste Technologies Inc. (OTC:NXTTF) (TSX-V:N), Golden Leaf Holdings Ltd. (CSE:GLH) (OTC:GLDFF), Centric Health Corporation (TSX:CHH) (OTC:CHHHF).
Integrated Cannabis Company, Inc. (CSE:ICAN) (OTCQB:ICNAF) BREAKING NEWS:Integrated Cannabis Company is pleased to provide a corporate update. Commercial Stage Products: X-SPRAYS™ - The Company's X-SPRAYS™ product line consists of eight market ready orally ingested spray products that are highly effective for overall health and well-being as well as general lifestyle. Four products are available infused with hemp-based cannabidiol (CBD) and four products are formulated without a cannabidiol (CBD) infusion. The state of the art formulations are free from artificial flavours, artificial colours, sugar, starch, wheat, soy, gluten, eggs, salt and dairy. The sprays contain natural fruit and/or herbal flavours and are suitable for vegetarians and vegans. The products are highly bioavailable such that the active ingredients in the sprays are already fully dissolved, so the vitamins and minerals do not need to be further broken down once swallowed, but are immediately available for use by the body.
The X-SPRAYS™ product line is packaged in precise, metered dose and convenient spray tubes including a child-resistant version, both of which easily fit into a purse or pocket and are ideal for travel. The container protects the liquid from light and air, ensuring the quality and shelf life of the ingredients. The full product offering is listed below in Table 1.0.
Product Name Product Description / Use
CBD Stress relief, pain management
Sleep with CBD Sleep aid, non habit forming
Focus Mental clarity
Relief General relief
Sleep Sleep aid, non-habit forming
Recover Anti-hangover
Energy Energy boost
Libido Aphrodisiac, enhance sexual vitality
X-SPRAYS™ Test Marketing - Online sales of the X-SPRAYS™ were initiated in late 2017 and have continued up to the present. These sales have been encouraging, considering the previously limited marketing budget, and the Company has seen numerous repeat customer orders which demonstrates product uptake and consumer affinity for the X-SPRAYS™.
In addition to Internet sales, the Company has test marketed selected products in two Medical Marijuana dispensaries in Colorado. These sales began in February 2018 and continue. Proceeds from these sales have been reinvested in Colorado marketing initiatives. The Company has learned, however, that marketing combined with in-store promotions can generate minimum sales in excess of 1 product per day in the retail environment. While this number is insignificant from a revenue perspective on a small scale retail distribution, it becomes significant when considering retail distribution outlets in the hundreds of locations. A single product selling only one unit per day in 100 stores could generate wholesale revenue in excess of tens of thousands of dollars per day. The Company has four products that are CBD infused, four non-CBD infused and a soon to be launched line of THC products that will have multiple SKU's. With market testing complete, X-SPRAYS™ plans to roll out additional brick and mortar distribution throughout dispensaries, vape stores, gas stations, and convenience stores across the country. Read this and more news for ICAN at http://www.marketnewsupdates.com/news/ican.html
Other recent developments in the cannabis industry include:
Valens GroWorks Corp. (CNQ:VGW.CN), a multi-licensed, vertically integrated provider of cannabis products and services utilizing proprietary extraction processes recently announced that it has signed a letter of intent with Colombian-based licensed producer Eticann S.A.S. Zomac ("Eticann") for: > the Company to purchase cannabis materials from Eticann; > the exclusive right for the Company to provide extraction services for Eticann's premium cannabis oil product offerings; > the provision of extraction service expertise to Eticann for toll processing services in Colombia and surrounding markets; and > Option to purchase up to 50% of Eticann's issued and outstanding shares.
Namaste Technologies Inc. (OTCQB:NXTTF) (TSX-V:N.V) came to a close up 7.68% on Wednesday with a volume north of 4.5 million. The company recently announced it has achieved a 300% month-on-month growth rate in its Canadian marketplace, in comparison with August of 2017, and 50% growth globally. In the month of August of 2018, the Company generated $1.65M in revenue which represents a 50% increase in revenue in comparison with August of 2017 after consideration of the loss of revenue due to Namaste divesting its US assets that were incorporated into its 2017 sales. The Company has also achieved over 300% growth on its Canadian websites, which now includes over 17,000 customers. The Company has been focused on developing its Canadian market by enhancing its e-commerce platform and focusing on organic growth through content production, search-engine optimization ("SEO") and in implementation of its proprietary AI technology through the Company's wholly-owned subsidiary, Findify AB ("Findify" or "Findify.io"). With increased competition in the Canadian market, Namaste is pleased to have achieved such significant growth in a key market for the Company.
Golden Leaf Holdings Ltd. (CNQ:GLH.CN) (OTCQB:GLDFF) recently announced it signed a definitive agreement (the "Agreement") to acquire a combined cultivation, production and retail license in Northern California, dubbed a "Sweet 16" license. It is one of only 16 licenses of its kind issued by the City of San Jose that allows the holder to operate in a vertically integrated fashion. "We are excited to introduce our brands and competencies to the 5th largest economy in the world. This is a natural progression given that we operate in the neighboring states of Oregon and Nevada. As part of an announcement we made August 13, 2018, we launched into the California market with our signing of the definitive agreement to purchase the assets of Tahoe Hydroponics Company, LLC and 11T Corp., which involves the acquisition of a ~28,800 ft2 facility under development in Sacramento, California. Adding production and retail licenses complements our entry into California in a meaningful way. The approval of this single, multi-faceted license is expected to swiftly position us for this market. In anticipation of this development, my team has been working diligently on a wholesale and retail deployment plan, supported by investments in production and supply chain that we expect will generate revenues in a relatively short period of time from the date of closing," said William Simpson, CEO of Golden Leaf.
Centric Health Corporation (TSX:CHH.TO) (OTCPK:CHHHF) recently announced it has entered into multi-year supply and service agreements with Canopy Growth Corporation ("Canopy Growth") (NYSE:CGC) (TSX:WEED) for the provision of medical cannabis. Under the agreements, Canopy Growth will be the preferred education partner and supplier of choice of medical cannabis primarily through its Spectrum Cannabis brand to Centric Health and the seniors that it serves both in long-term care and retirement residences, as well as seniors living in the community. Spectrum Cannabis and Centric Health will work collaboratively to educate Centric Health's clinical pharmacists, as well as other healthcare partners, residents and seniors and their families, on the benefits and potential applications of medical cannabis. Centric Health's clinical pharmacists are in an ideal position to provide guidance on the safe use of medical cannabis as they are specially trained in geriatric medicine. Many seniors face significant barriers when it comes to access and knowledge around the benefits of medical cannabis but with the support of trained pharmacists and educators, the seniors that Centric Health serves and those living within the community will have the ability to receive assessments and on-going support from a pharmacist to ensure the highest degree of safety and efficacy. Centric Health's unwavering commitment to quality care and resident outcomes through their existing pharmacy operations and focused strategy of expanding service offerings to seniors in the community makes for an ideal long-term strategic partnership.
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