PALM BEACH, Florida, December 10, 2018
PALM BEACH, Florida, December 10, 2018 /PRNewswire/ --
FinancialNewsMedia.com News Commentary
The CBD-infused product market is continually experiencing a high growth period as demand for CBD based products continues to rise. In a recent article published on Bloomberg.com, analyst Bobby Burleson at Canaccord Genuity said he expects revenue share for cannabis-infused beverages "should expand meaningfully over the next several years," outpacing overall retail demand for marijuana by more than two times. "Interest has spiked from the beer industry on mounting evidence of a substitution relationship between cannabis and alcohol, while large soda companies increasingly view CBD as a natural fit within their strategically important wellness offerings," Burleson wrote in a recent note to clients. Drinks infused with marijuana-derived compounds could swell to become a $600 million market in the U.S. within the next four years, outpacing the growth of other categories of retail cannabis products, according to analysts at Canaccord Genuity. Active companies in the markets today include: The Alkaline Water Company Inc. (TSX-V:WTER) (NASDAQ:WTER), New Age Beverages Corporation (NASDAQ:NBEV), Cronos Group Inc. (NASDAQ:CRON) (TSX:CRON), MedMen Enterprises Inc. (CSE:MMEN.CN) (OTCQX:MMNFF), Canopy Growth Corporation (TSX:WEED.TO) (NYSE:CGC).
The Alkaline Water Company Inc. (TSX-V:WTER.V) (NASDAQ:WTER) BREAKING NEWS: The Alkaline Water Company, with products bottled under the trademark Alkaline88®, announced today that record monthly sales of more than $3.1 million have been achieved for the month ending November 30, 2018.
"Our sales during the month of November were the highest in the Company's history. We have achieved this success through our continued effort to remain at the forefront of the beverage industry by providing innovative products like Alkaline88®, and will continue to grow by executing on our strategy to add new sales channels and classes of trade, expand internationally, and extend our product lines into flavored and Hemp-infused beverages" stated Richard A. Wright, President and CEO of The Alkaline Water Company Inc. "We are well positioned to leverage the strength of our lean business model and national brand recognition to accelerate our growth into 2019. With today's listing on NASDAQ, we expect the increased visibility and liquidity will help us to continue to drive shareholders value."
The Company also announced that, as of the start of trading today, shares of its common stock have ceased trading on the OTCQB and will be listed on the NASDAQ Capital Market (NASDAQ) under the ticker symbol "WTER." The Alkaline Water Company will retain its listing on the TSX Venture Exchange (TSXV), also under the ticker symbol "WTER."
The Company fully intends to comply with all federal, state, and local laws, rules and regulations as the Company develops its hemp infused alkaline water and other nutraceutical product lines. The Company will not pursue the production or sale of hemp infused products until legally permitted and all necessary approvals have been obtained. Read this and more news for Alkaline Water Company at:http://www.financialnewsmedia.com/news-wter/
In other industry developments in the markets:
New Age Beverages Corporation (NASDAQ:NBEV) last week announced the signing of a definitive agreement to acquire Morinda Holdings, Inc., a Utah-based healthy lifestyles and beverage company with operations in more than 60 countries around the world. The newly combined global company will be headquartered in Denver, Colorado with major operations in Shanghai, Tokyo, Munich, Utah, and more than 20 other countries, and further strengthens New Age with the infrastructure to expand its portfolio of healthy beverages worldwide. Consideration for the transaction will be $85 million, comprised of $75 million in cash and $10 million in New Age restricted stock based on the 40-day volume-weighted average price from closing. The cash consideration for the transaction will be sourced from New Age's current cash balance. The transaction is expected to close in late December. At closing Morinda will be bringing a minimum of $25 million in working capital and no debt. Additional contingent consideration may be made to Morinda owners based on EBITDA performance in 2019.
Cronos Group Inc. (NASDAQ:CRON) (TSX:CRON) announced late last week it has entered into a subscription agreement with Altria Group, Inc. (MO) pursuant to which Altria has agreed to make an approximately C$2.4 billion equity investment in Cronos Group on a private placement basis in exchange for common shares in the capital of the Company. Altria will also receive Warrants of Cronos Group, that if fully exercised, would provide the Company with an additional approximately C$1.4 billion of proceeds. The Shares issuable to Altria pursuant to the Subscription Agreement will result in Altria holding an approximately 45% ownership interest in Cronos Group (calculated on a non-diluted basis), exercise of the Warrants would result in incremental ownership of 10% for a total potential ownership position of 55%. This strategic partnership provides Cronos Group with additional financial resources, product development and commercialization capabilities, and deep regulatory expertise to better position the Company to compete, scale and lead the rapidly growing global cannabis industry.
MedMen Enterprises Inc. (CSE:MMEN.CN) (OTCQX:MMNFF) last week announced the hiring of Michael W. Kramer, a veteran finance executive with a proven track record at retailers such as Apple Inc., Abercrombie & Fitch and Forever 21, as Chief Financial Officer. "Michael's extensive financial and operational experience in retail and tech, and his success in scaling high-growth businesses will be instrumental as MedMen moves to operationalize the balance of our footprint," said Adam Bierman, MedMen co-founder and chief executive. "His appointment underscores our commitment to investing in a strong management team with a track record of execution. Our industry and business continue to evolve, and it is paramount that we have the right talent to execute at each stage of our growth."
Canopy Growth Corporation (TSX:WEED.TO) (NYSE:CGC) closed Friday up 3.47% with a volume north of 3.8 million. The company recently announced it has finalized an all-cash transaction to acquire Storz & Bickel GmbH & Co. KG, related entities, and IP (collectively, "Storz & Bickel" or "S&B") for a purchase price of up to approximately €145 million. With a 22-year track record of breakthrough innovations, Storz & Bickel is widely recognized as the global leader in vaporizer design and manufacturing. Based in Tuttlingen, Germany, Storz & Bickel are designers and manufacturers of medically approved vaporizers, most notably the Volcano® Medic and the Mighty® Medic. Storz & Bickel has spent the last two decades developing an automated and internationally certified factory, achieving ISO 13485 certification in 2009. The company has exported devices to 50 markets around the world.
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