Connect with us

Cannabis

Booming Demand for CBD Creating a $23.7 Billion Market Opportunity

Avatar

Published

on

Reading Time: 5 minutes

 

Since the U.S. Farm Bill became law, global demand for CBD-rich consumer products has been increasing at a rapid pace. In fact, the Brightfield Group estimates the U.S. CBD product market alone to be worth over $23.7 billion by 2023, as CBD finds its way into a variety of consumer product categories including  food and beverage, pharmaceuticals, cosmetics, and health and wellness.  Better, according to a May 2018 survey from Nielsen, analysts found that consumers are quickly embracing CBD products, particularly when it comes to medicinal purposes. In fact, according to the survey, 40% of head and migraine suffers are considering cannabis in addition to 40% of all arthritis pain suffers, and 41% of all back and neck pain sufferers. That’s opening a wide range of opportunity for companies including MYM Nutraceuticals Inc. (OTCQB:MYMMF) (CSE:MYM), Cronos Group Inc. (NASDAQ:CRON), Aphria Inc. (NYSE:APHA) (TSX:APHA), Charlotte’s Web Holdings Inc. (OTCQX:CWBHF) (CSE:CWEB) and Canopy Growth Corporation (NYSE:CGC) (TSX:WEED).

MYM Nutraceuticals Inc. (CSE:MYM)(OTC:MYMMF) BREAKING NEWS: MYM Nutraceuticals just announced the incorporation of MYM International Brands Inc. to focus on the growing global demand for CBD-rich consumer products. The passing of the Farm Bill in 2018 allowed for the cultivation of CBD-rich hemp in the United States. “As global cultivators of CBD-rich hemp, we have the expertise and network to expand our business into CBD consumer products,” said Howard Steinberg, CEO of MYM. “Erick Factor will lead this initiative as Chairman and CEO of International Brands which is an extremely important initiative for the company. The senior management team is excited about Erick taking on this tremendous opportunity. Erick is well equipped to meet the challenges of product development, branding, and distribution to help us be successful in the CBD consumer products space. In order to focus his full attention on this new role, Erick has decided to resign as Chairman of MYM Nutraceuticals.”

“Five years ago, I founded MYM Nutraceuticals with the goal of creating a fully integrated, seed to sale, global cannabis company. Now with offices in six countries and growing, we’re in a position to create a new revenue stream with unique brands. To this end, I’m extremely excited to launch MYM International Brands at a time when CBD-rich consumer products are still in their infancy”, said Erick Factor, CEO of MYM International Brands. “The team has a tremendous opportunity ahead of us to become global leaders in a burgeoning new consumer products sector. We’re eager to hit the ground running and confident our new division can add value to MYM shareholders”.  FOR MORE INFO ON MYM, PLEASE GO TO https://www.mym.ca/

Other cannabis-related developments from around the markets include:

Cronos Group Inc. (NASDAQ:CRON) just announced that it has entered into a definitive agreement to acquire four of Redwood Holding Group, LLC’s operating subsidiaries.

Redwood manufactures, markets and distributes hemp-derived cannabidiol (CBD) infused skincare and other consumer products online and through retail and hospitality partner channels in the United States under the brand, Lord Jones™. Redwood’s products use pure hemp oil that contains natural phytocannabinoids and terpenes found in the plant.  Under the terms of the agreement, Cronos Group will acquire Redwood for approximately $300 million, net of Redwood’s estimated cash and debt and subject to a customary working capital adjustment as described in the agreement. $225 million of the total consideration (subject to the foregoing adjustments) will be paid in cash with the balance paid in newly issued Cronos Group common shares. Cronos Group will fund the cash portion of the transaction with cash on hand.

Aphria Inc. (NYSE:APHA) (TSX:APHA) just reported its results for the fourth quarter and fiscal year ended May 31, 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.

“It’s a new day at Aphria. Our team’s solid execution across key areas of our business resulted in strong adult-use revenue growth and a profitable fourth quarter,” stated Irwin D. Simon. “Over the last six months, our organization identified immediate priorities to help generate substantial progress near-term and long-term. We built upon existing business fundamentals and capabilities, streamlined processes, strengthened governance, and focused on building brand awareness. Together, we have nurtured an entrepreneurial culture of accountability through data-driven decision-making for value creation in the global medical and adult-use cannabis industry.  Today’s Aphria has a stronger foundation for long-term growth and success.”  The company posted net revenue of $128.6 million in the fourth quarter, an increase of 75% from prior quarter and 969% from prior year; revenue for adult-use cannabis of $18.5 million in the fourth quarter, up 158% from prior quarter; net income of $15.8 million and adjusted EBITDA of $0.2 million in the fourth quarter; and adjusted EBITDA from cannabis operations of $1.9 million in the fourth quarter.

Charlotte’s Web Holdings Inc. (CSE:CWEB)(OTCQX:CWBHF) just unveiled its newest CBD product line – hemp extract-infused CBD Gummies – made with whole-plant extract from its prized hemp genetics and featuring synergistic functional ingredients to support specific health related functions including everyday stress, sleep, and recovery from exercise or active lifestyles.  Available in a variety of flavors, gummies are the latest addition to the Company’s expanding line of CBD hemp-extract products. “Gummies are a very popular edible format as a result of convenience and measurable consumption,” stated Kelsey Morrison, Associate Director of Product Development at Charlotte’s Web. “This new delivery format from Charlotte’s Web provides an easy bite-sized way to ingest full-spectrum hemp-extract CBD.”

Canopy Growth Corporation (NYSE:CGC)(TSX:WEED) will release its financial results for the first quarter fiscal 2020 ended June 30, 2019 after financial markets close on August 14, 2019.  Following the release of its first quarter 2020 financial results, Canopy Growth will host a conference call and audio webcast with Mark Zekulin, CEO and Mike Lee, EVP & CFO at 8:30 AM Eastern Time on August 15, 2019.

DISCLAIMER: FN Media Group LLC (FNM), which owns and operates Financialnewsmedia.com and MarketNewsUpdates.com, is a third- party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM expects to be compensated twenty-five hundred dollars for news coverage of the current press release issued by as MYM Nutraceuticals Inc. by a non-affiliated third party. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.

 

SOURCE FinancialNewsMedia.com

Cannabis

Nutritional High Announces Settlement of Payables and Update on Psychedelic Sciences Corp Acquisition.

Newsfile

Published

on

Toronto, Ontario–(Newsfile Corp. – August 4, 2020) – Nutritional High International Inc. (CSE: EAT) (OTC Pink: SPLIF) (“Nutritional High” or the “Company“) is pleased to announce settlement of trade payables and an update regarding the acquisition of Psychedelic Sciences Corp (“PSC“).

The Company announces that trade creditors representing CAD $1,159,936 have entered into settlement agreements with the Company to convert such amounts owed into 44,253,582 Units at a deemed price of $0.025 per Unit. Each Unit being comprised of one common share and one common share purchase warrant (a “Warrant“) with each Warrant entitling the holder to acquire one common share of the Company at any time on or before December 31, 2020 at a price of $0.05 per share The shares issuable under this conversion will be issued under National Instrument 45-106 and are subject to a 4-month hold.

The payable settlement agreements represent approximately half of the Company’s total corporate payables excluding its subsidiary Calyx Brands.

“We are pleased to have reached a settlement of these payables and would like to thank all parties for their cooperation and support” stated John Durfy, CEO of Nutritional High. This is an important part of our strategic review and helps in our effort to improve our capital structure.”

$730,547.13 of the debt being settled is held by related parties of the Company. Branson Corporate Services Ltd., a corporate services firm in which Adam Szweras, one of the directors of the Company, and his spouse own more than 10% received 2,806,120 units, bringing Branson Corporate Services Ltd.’s ownership position from nil to 0.6% on an undiluted basis and 1.2% on a partially diluted basis. L+G LLP (JRG Attorneys at Law, California) a law firm of which Aaron Johnson, a director of the Company, is one of three partners, received 14,893,580 units, bringing L+G LLP ‘s ownership position from nil to 3.2% on an undiluted basis and 6.2% on a partially diluted basis. FMI Capital Advisory Inc., a financial advisory firm of which Adam Szweras is a director, received 4,000,000 units, bringing FMI Capital Advisory Inc.’s ownership position from 1.5% to 2.2% on an undiluted basis and 3.4% on a partially diluted basis. Brian Presement, a director of the Company received 158,828 units. Unite Communications Corp., a communications company which is controlled by Brian Presement received 284,131 units. Plexus Cybermedia Inc., a data driven investor marketing firm of which Brian Presement holds one-third of the shares and is a director received 7,079,306 units, bringing Plexus Cybermedia Inc.’s ownership position from 0.12% to 1.6% on an undiluted basis and 3.1% on a partially diluted basis. The Company relied upon the exemptions in sections 5.5(b) (Issuer Not Listed on Specified Markets) and 5.7(1)(a) (Fair Market Value Not More Than 25 Per Cent of Market Capitalization) of Multilateral Instrument 61-101. The material change report will be filed less than 21 days before the closing date of the debt restructuring, but believes that this shorter period is reasonable and necessary in the circumstances as the Company wishes to improve its financial position by reducing its accrued liabilities as soon as possible.

Update on Acquisition of PSC

PSC has completed it’s financing efforts and closing of the acquisition is expected to be completed shortly following receipt of satisfaction of the remaining conditions precedent.

PSC is moving ahead with Rangsit University (“RSU”) to identify which cactai strains will grow most rapidly while maximising mescaline output. In addition, Nutritional High’s science team is working with PSC and RSU to design a whole plant trial to determine the efficacy of micro-dosing psychedelic cactai.

With regard to Psilocybin related research and development, RSU and PSC are developing a trial which will be undertaken upon a successful de-scheduling of Psilocybin in Thailand.

About Nutritional High International Inc.

Nutritional High is focused on developing and manufacturing branded products in the cannabis industry, with a specific focus on edibles and oil extracts for medical and adult recreational use. The Company works exclusively in jurisdictions where such activity is permitted and regulated by state law. Nutritional High has brought its flagship FLÏ™ edibles and vape product lines from production to market in various markets including Colorado where its award winning FLÏ™ products are manufactured by Palo Verde, LLC. The Company signed a purchase agreement for Palo Verde and is awaiting regulatory approval. In California, the Company distributes products through its wholly owned distributor Calyx Brands Inc. For updates on the Company’s activities and highlights of the Company’s press releases and other media coverage, please follow Nutritional High on Facebook, Twitter and Instagram or visit www.nutritionalhigh.com.

For further information, please contact:

Robert Wilson
Chief Financial Officer
Nutritional High International Inc.
416-666-4005
Email: rwilson@nutritionalhigh.com

NEITHER THE CANADIAN SECURITIES EXCHANGE NOR OTC MARKETS GROUP INC., NOR THEIR REGULATIONS SERVICES PROVIDERS HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

This news release may contain forward-looking statements and information based on current expectations. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Risks that may have an impact on the ability for these events to be achieved include completion of due diligence, negotiation of definitive agreements and receipt of applicable approvals. Forward looking statements in this press release include statements regarding the closing of the acquisition of PSC and the timing thereof Although such statements are based on management’s reasonable assumptions, there can be no assurance that such assumptions will prove to be correct. We assume no responsibility to update or revise them to reflect new events or circumstances.

The Company’s securities have not been registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act“), or applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or “U.S. Persons”, as such term is defined in Regulation S under the U.S. Securities Act, absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful.

Additionally, there are known and unknown risk factors which could cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law. Some of the risks and other factors that could cause actual results to differ materially from those expressed in forward-looking information expressed in this press release include, but are not limited to: obtaining and maintaining regulatory approvals including acquiring and renewing U.S. state, local or other licenses, the uncertainty of existing protection from U.S. federal or other prosecution, regulatory or political change such as changes in applicable laws and regulations, including U.S. state-law legalization, market and general economic conditions of the cannabis sector or otherwise.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/61067

Continue Reading

Cannabis

BioHarvest Sciences Inc.’s CEO to Host Zoom Video Conference Today, August 4, 2020 at 3:00 p.m. EST

Newsfile

Published

on

Vancouver, British Columbia–(Newsfile Corp. – August 4, 2020) – BioHarvest Sciences Inc. (CSE: BHSC) (the “Company”, “BioHarvest”)  would like to invite its shareholders and the general public to join Ilan Sobel, newly appointed CEO for a Zoom Video Conference TODAY August 4th, 2020 at 3:00PM Eastern Standard Time. The CEO will be unveiling publicly the Company’s Growth Strategy and will be available to answer questions with the attendance of Dr. Zaki Rakib, President and Chairman of the Board and, Dr. Yochi Hagay, CTO. Please click the following link to JOIN the conference: BHSC: Zoom Video Conference.

Ilan Sobel, CEO: “The merger of Canna-V-Cell and BioHarvest Ltd. earlier this year has created great opportunities for the Company to leverage its proprietary BioFarming Technology towards the Nutraceutical and Cannabis Verticals. I am looking forward to sharing BioHarvest’s Growth Strategy today with our shareholders and build their confidence in our ability to EXECUTE on this Strategy. I am committed to improve our communication with our shareholders and to the public in general and look forward to a quality dialogue. Please Join us!”

Cannot view this video? Visit:
https://www.youtube.com/watch?v=c7pxqAoTf5g

About BioHarvest Sciences Inc.

Based in Vancouver BC, BioHarvest Sciences Inc. is the developer and exclusive owner of the proprietary and patent protected Biofarming technology. It is the first and only industrial large-scale plant cell growth technology capable of directly and constantly producing the active plant ingredients without the necessity to grow the plant itself. The technology has been already validated by Vinia™, the red grapes cells functional food/dietary supplement produced and sold by BioHarvest. By adapting this technology to the Cannabis plant, and building adequate cells production capacity, BioHarvest Sciences Inc.’s objective is to become the leading supplier of Cannabis for both the medicinal and recreational legal use. See the following hyperlink for a visual description of our Biofarming technology: BHSC’s Biofarming Technology.

BioHarvest Sciences Inc.

Dr. Zaki Rakib
President and Chairman of the Board

For further information, please contact:

Dave Ryan, VP Investor Relations & Director
Phone: 1 (604) 622-1186
Email: dave@bioharvest.com

Forward-Looking Statements Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management’s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. The Company cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond the Company’s control. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information.

Neither Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/61016

Continue Reading

Cannabis

Osoyoos Closes Non-Brokered Private Placement

Newsfile

Published

on

Toronto, Ontario–(Newsfile Corp. – August 4, 2020) – Osoyoos Cannabis Inc. (CSE: OSO) (“Osoyoos” or the “Company”) is pleased to announce that the Company has closed its previously announced non-brokered private placement (the “Private Placement“) of up to 20,000,000 units of the Company (the “Units“), at a price of $0.05 per Unit, for gross proceeds of up to $1,000,000.

Each Unit will consist of one common share of the Company (a “Common Share“) and one-half of one common share purchase warrant of the Company (a “Warrant“). Each full Warrant will entitle the holder to acquire one additional Common Share for a period of twenty-four months from the date of issuance (the “Expiry Date“) at a price of $0.15 per Common Share. Furthermore, the Company will have the right to accelerate the Expiry Date to be thirty days following written notice to the holders, if during the term of the Warrants the Common Shares close at or above $0.20 per Common Share on each trading day for a period of ten consecutive trading days on the Canadian Securities Exchange. Proceeds from the Private Placement are expected to be used for general working capital needs.

On July 31, 2020, the Company closed a third tranche of the Private Placement and issued 10,208,340 Units of Company, at a price of $0.05 per Unit, for gross proceeds of $510,417. As of the date hereof, the Company has issued an aggregate of 20,208,340 Units pursuant to the Private Placement for total gross proceeds of $1,010,417.

All Common Shares and Warrants sold under the Private Placement will be subject to a statutory four month and one day hold period. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, and there shall be no sale or exchange of the Company’s securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under applicable securities laws.

About Osoyoos Cannabis Inc.

Osoyoos Cannabis Inc. has a joint-venture agreement with a private, vertically-integrated licensed producer under the Cannabis Act (Canada) to offer contract tolling extraction services to third-party businesses. Additionally, the Company recently acquired 1196691 B.C. Ltd. d/b/a “PCAI Pharma” (www.pcai.ca) and its wholly-owned subsidiary AI Pharmaceuticals Jamaica Limited, a private corporation incorporated and operating under the laws of Jamaica. The business of AI Pharma involves science, research, treatment, data mining and AI, focused on the development of combinatorial pharmaceuticals, nutraceuticals and cosmeceuticals utilizing compounds from cannabis (cannabinoids), psychedelic mushrooms (psilocybin), fungi and other psychedelic formulations and their related medicinal global intellectual property protection.

For further information, please contact:
Graham Simmonds

Chief Executive Officer
(416) 843-2881
jgrahamsimmonds@gmail.com

DISCLAIMER & READER ADVISORY

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “may”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the business of the Company. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the parties. The material factors and assumptions include regulatory and other third-party approvals; licensing and other risks. The forward-looking information contained in this release is made as of the date hereof and the parties are not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/61013

Continue Reading

Trending Online

Grassnews is part of PICANTE Media and Events, a leading media and boutique event organizer in the European Union with a monthly reach of +50,000 readers. The official company (PROSHIRT SRL), has been listed for 4 years in a row among the top 3 Advertising and market research agencies in the local Top Business Romania Microcompanies based on the Financial Reports. Grassnews digests / hand picks the latest news about the CBD / Legal Cannabis industry and serves them to you daily.

Contact us: sales@picante.today

Editorial / PR Submissions

© Grassnews .com 2019 - 2020 - part of PICANTE Media. All rights reserved. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania