PALM BEACH, Florida, November 27, 2018
PALM BEACH, Florida, November 27, 2018 /PRNewswire/ --Financialnewsmedia.com News Commentary
The cannabis industry is continuing to explode in light of favorable economic conditions including increasing legalization, rapidly rising demand and increased investment in product development. The billion dollar space has a number of appealing inroads, but one of the more attractive niches is that of the food and beverage market as cannabis-infused products rise in popularity. Edibles specifically have been the talk of the industry these days and one of the fastest growing segments of the cannabis space. Market reports continue to emphasize exponential growth in the concentrate and edible categories, and this versatile segment of the industry is capturing consumers' attention across every demographic. Active cannabis stocks in news today include: Nightfood Holdings, Inc. (OTC:NGTF), Kona Gold Solutions Inc. (OTC:KGKG), PotNetwork Holdings Inc. (OTC:POTN), Freedom Leaf Inc. (OTC:FRLF), Puration Inc. (OTC:PURA).
Nightfood Holdings, Inc. (OTCPK: NGTF) BREAKING NEWS - MJ Munchies, Inc., a wholly owned subsidiary of Nightfood Holdings, Inc., has announced a Letter of Intent has been signed with a cannabis beverage and edibles company to license the Half-Baked brand in the state of Colorado.
MJ Munchies, having registered the Half-Baked mark for federal trademark protection earlier this year, and having been granted trademark protection in the state of California, is now set to launch Half-Baked products in a second state.
The final licensing agreement is expected to be completed in the coming weeks, and to include quarterly royalty payments from the Licensee, along with an option to expand the relationship into other states. There will also be the possibility for the Licensee to acquire the national rights to the Half-Baked brand if certain operational milestones are achieved within certain specified timeframes.
The Licensee will have the rights to manufacture, market, and distribute products in Colorado under the Half-Baked brand in both beverages and edibles.The Agreement will require that a Half-Baked THC-infused beverage in a "shot" format be brought to market before March 31, 2019.
"Edibles and beverages are clearly the future of recreational cannabis consumption," commented MJ Munchies CEO Sean Folkson. "With the launch of Half-Baked edibles in California next quarter, it was important to us not only to add a second geographic market, but to launch a Half-Baked beverage. For several reasons, we have agreed that a Half-Baked THC-shot, similar in format to a 5-Hour Energy shot, be the first product brought to market under this agreement." Management envisions a future where Half-Baked is a leading brand in the national edibles market, which is beginning to take shape. "We were extremely fortunate to secure the best brand name in the space with Half-Baked," continued Folkson. "We're going to nature it and grow it. And, when the country reaches its tipping point, we believe Half-Baked will be a tremendous acquisition target for the right multi-national looking for a competitive advantage in a booming US edibles market."Read this and more news for NGTF at: https://www.financialnewsmedia.com/news-ngtf
In other cannabis industry happenings and news of note:
Kona Gold Solutions Inc. (OTCPK:KGKG) recently announced the hiring of its new Midwest Sales Manager, Chad Webb. Kona Gold has been focusing on building a top tier sales team, which is reflected by the recent hire of its V.P. of Sales, Chris Selinger, in September, and now with the hiring of Mr. Webb, who brings years of experience and industry relationships to The Company. Chad Webb comes to Kona Gold with 20 plus years of experience in the beverage industry, specifically working in the beer and energy drink markets. Mr. Webb worked 14 years as an On Premise Sales Manager and Division Manager for one of the largest beer companies in the world where he managed over 400 accounts and produced over 3 million dollars in annual sales. Mr. Webb also spent 3 years at the distribution company that distributes the largest energy drink brand in the world where he managed 12 division team members and met or exceeded annual sales goals. "I am very excited to announce to our shareholders that we have expanded our sales team with the hiring of Chad Webb, our new Midwest Sales Manager," stated Robert Clark, CEO of Kona Gold Solutions, Inc.
PotNetwork Holdings Inc. (OTCPK:POTN) recently announced it is set to launch the first edition of their all-new print magazine. PotNetwork Magazine gives the crack PotNetwork editorial team an opportunity to provide an unparalleled analysis of the untold stories of the cannabis space, while still channeling the unbiased, hard hitting style that has made PotNetwork.com such a sensation. PotNetwork Magazine will explore every sector of the cannabis industry from ancillary companies all the way up to growers who directly touch the plant. It will become an indispensable resource for industry leaders and budding entrepreneurs alike. The magazine will include detailed analysis of topics including hemp products, consumption devices, investing & finance, breaking technology and much more. "There's so many stories that don't get told when you're keeping up with the day's events," said Kevin Hagen, CEO of PotNetwork Holdings, the parent company of PotNetwork Media Group, Inc.
Freedom Leaf Inc. (OTCQB:FRLF) recently announced it has entered into an LOI to acquire Hemp2o, a brand of hemp-infused beverages co-founded by San Francisco cannabis entrepreneur and rapper Gilbert Milam Jr., better known by his stage name Berner. Hemp2o, which offers eight flavors of organic hemp-infused beverages including top selling flavors "Sunset Sherbert", "Strawberry Watermelon", and "Blueberry Apricot", expects to generate over $2.0 million of revenue in calendar 2018. Its beverages are currently sold by national retailers including selected Whole Foods on the W. Coast, 700 Safeway/Albertsons on the W. Coast and in the S. West, selected Target locations in Los Angeles and San Francisco as well as on Amazon.com. The transaction, which involves a combination of both cash and Freedom Leaf stock, is expected to close in December. The addition of Hemp2o to the Freedom Leaf family of CBD brands will expand the spectrum of Freedom Leaf products into virtually every delivery medium, adding beverages to its current SKUs of tinctures, vaporizers, and transdermal creams. The combined companies will also benefit from consolidated production operations and economies of scale on selling through both of the respective companies' sales channels.
Puration Inc. (OTCPK:PURA) opened this week by announcing an agreement with Generex Biotechnology Corporation to develop and produce NuGenerex CBD HydroHealth High Alkaline Water. The CBD used in the NuGenerex CBD HydroHealth product line will be exclusively derived from industrial hemp using a patented extraction process that yields ultra-purified and characterized CBD formulations. The agreement is anticipated to add over $1 million in new product sales in 2019 for Puration separate from the ongoing existing product sales that have generated approximately $1 million in reported trailing twelve-month revenue. Generex plans to build on Puration's track record in developing and marketing a successful line of CBD infused drinks in the sports nutrition market. Under the terms of the agreement, Puration will refine its patented extraction process to develop proprietary CBD formulations for NuGenerex CBD HydroHealth Water, which will be sold as therapeutic supplements for health maintenance in conditions in which CBD therapy has shown promise including, arthritis, epilepsy, chronic pain, generalized anxiety, diabetes, and cancer. The FDA has already approved a formulation of CBD called EpidiolexÒ for childhood epilepsy. Generex CBD HydroHealth Water is the first of a planned product line of NuGenerex CBD therapies, from alkaline water formulations to salves and creams for pain management that will be marketed through our wholly-owned subsidiary NuGenerex Distribution Solutions.
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