NEW YORK, January 22, 2019
NEW YORK, January 22, 2019 /PRNewswire/ --
FinancialBuzz.com News Commentary
Cannabidiol, or CBD, has become increasingly popular due to its therapeutic and relaxing effects. CBD is the non-psychoactive component of cannabis and is widely being used to treat medical conditions such as epilepsy and arthritis without feeling the effects associated with THC. It also doesn't matter if CBD is being used for medical or recreational purposes, as there is a large demand overall. According to data compiled by Brightfield Group, the U.S. CBD market is expected to reach USD 22 Billion by 2022, outpacing the rest of the cannabis market combined. The market is expected to grow due to the versatile uses of the derivative, as CBD is commonly used for medical applications, health and wellness, beauty or simply just a relaxation stimulant. Weekend Unlimited Inc. (OTC: WKULF), Auxly Cannabis Group Inc. (OTC: CBWTF), Golden Leaf Holdings Ltd. (OTC: GLDFF), Puration, Inc (OTC: PURA), Medical Marijuana, Inc. (OTC: MJNA)
CBD is also growing in adoption among athletes within sports. Many are using CBD over other pain relievers such as ibuprofen or opioids. While these over-the-counter pain relievers may help with pain relief and reduce inflammation, they pose risks in the form of many side effects. However, unlike those pain relievers, CBD is not linked to similar deteriorating effects. Athletes are also eligible to use CBD as a treatment after The World Anti-Doping Agency and US Anti-Doping Agency removed it from its prohibited substances and methods list. "CBD is the next healthcare phenomenon. It is so effective for so many conditions, is natural, non-psychoactive and has no known serious side effects. It is the next hot, functional ingredient beauty ingredient, like collagen, shea butter or aloe," said Bethany Gomez, Managing Director at Brightfield Group.
Weekend Unlimited Inc. (OTC: WKULF) also listed on the Canadian Securities Exchange under the ticker (CSE: YOLO). Just early this morning the company announced breaking news that, "through one of its subsidiaries, Weekend Unlimited Washington LLC, announces the signing of an arms-length letter of intent to provide processing and distribution facilities to Boggy Boon branded cannabis company Seven Hills, with an option to acquire Seven Hills.
Under the agreement terms, Weekend will provide a loan of up to $750,000 USD to Seven Hills in three equal tranches over 9 months to upgrade its facilities, and will have the option to acquire 100% of Seven Hills for $1,500,000 USD.
"Boggy Boon branded cannabis is cultivated in a 28,000 sqft. facility located in Wenatchee, Washington where Weekend's wholly owned subsidiary Orchard Heights Growers is also located. As a result of this arrangement, Boggy Boon will be able to dedicate its operation entirely to cultivation with an anticipated increase efficiency of 40%, with the current year run rate of $2M growing to $2.8M," explained Paul Chu, Weekend's President and CEO.
As a result of this alliance, Orchard Heights will have more diverse products to offer its sales channel and will be able to sell Weekend brands to the existing 130 Boggy Boon retail accounts.
"The Washington market is mature and consumers are becoming more loyal to established brands like Boggy Boon. Boggy Boon is ranked in the top 5% of all brands in Washington State and we feel this is an ideal partnership where each entity was looking to develop the infrastructure that the other already has in place. By forming this alliance both will accelerate their market penetration and fully utilize existing infrastructure to grow," added Paul Chu.
• Boggy Boon is a Tier 3 producer / processor located in Wenatchee
• Boggy Boon built a custom cannabis greenhouse in 2016 for premium production
• By collaborating with Orchard Heights, it is anticipated that Boggy Boon will be able to improve its existing operations and production by 40% and diversify its product offering in Washington state
• Boggy Boon is in the top 5% of all producer / processors
• Weekend's facility in Wenatchee provides synergy and optimization to not only increase both company's revenue but also reduce operating expenses, thereby increasing profit margins"
Auxly Cannabis Group Inc. (OTCQX: CBWTF) is a vertically integrated cannabis company with diverse operations across Canada and Uruguay. Auxly Cannabis Group Inc. recently announced, further to its previous releases, that it had completed the acquisition of 80% of the outstanding common shares of Inverell S.A. The Transaction positions the Company as a leader in the global CBD economy with a highly efficient, low-cost source of cannabinoids for international distribution, including through the Company's strategic partnership with ICC International Cannabis Corporation Inc. (CSE: WRLD) which provides the Company with access to 16 markets through a network of 35,000 pharmacies. Importantly, the low cost, high purity CBD produced by Inverell gives the Company a long-term and stable supply of CBD to support the research, development and manufacturing of cannabis-derived products at Dosecann Inc., the Company's wholly-owned Licensed Processor facility located in Prince Edward Island, Canada. Hugo Alves, President and Director of Auxly Cannabis Group, commented: "We are incredibly pleased with progress that Inverell has made on the cultivation of its 2019 crop of CBD-rich hemp and on the broader development of the business as a stand-alone entity in the Auxly platform. In a very short period, Inverell has exceeded its 2018 planting target of 150 hectares of hemp plants and has made significant strides forward on the development of its world-class extraction facility located in the Parque de las Ciencias. We continue to believe that the low cost and high volume access to CBD molecules, through our ownership in Inverell, positions Auxly to be a leader in the global value-added cannabinoid-based product markets."
Golden Leaf Holdings Ltd. (OTCQB: GLDFF) is a Canadian company with operations in multiple jurisdictions including Oregon, Nevada and Canada, with cultivation, production and retail operations built around recognized brands. Golden Leaf Holdings Ltd. recently announced the launch of its edible product line of cannabis infused fruit chews to the Nevada market under the "Golden" brand. In Nevada, the Company currently sells a range of ethanol-extract distillate, oils and distillate blends under the Golden Private Stash, RSO-Go and Jackpot brands. Currently, its products are sold wholesale in approximately 40% of dispensaries in Nevada. The Company's Fruit Chews were launched in Oregon in March 2018 under the Golden brand with resounding success. Launching in Nevada is a natural extension of the Company's strategy to complement its existing offerings of extract product. Fruit chews aim to help the Company's customers to balance life's highs and lows. The four bold fruit chews being introduced feature clean cannabis distillate with real fruit and restorative ingredients. "Our launch in Oregon resonated well with our customers. We are expanding on that and offering the same consistent, wholesome line of edibles to our Nevada customers. The cannabis marketplace continues to grow and the population of cannabis consumers continues to expand. This continues to be an opportunity to engage and connect with our customers who prefer to consume cannabis through non-smoking methods," said William Simpson, Chief Executive Officer of Golden Leaf Holdings.
Puration, Inc (OTC: PURA) and Kali-Extracts, Inc. recently announced a new 25 mg CBD Extract formulation for beverage infusion. KALY owns and manages a patented cannabis extraction process. PURA has licensed the KALY patent for beverage infusion. PURA currently produces EVERx CBD Sports Water infused with 10 mg of CBD. Together KALY and PURA are designing a new private labeled CBD infused beverage for Generex Biotechnology, Inc. In response to feedback from PURA's EVERx distributors, KALY and PURA are now working together to refine a new 25 mg CBD extract formulation. "Through the retail outlets our distributors serve, we are getting feedback that there is an unserved demand for CBD infused beverages with 25 mg of CBD," said Brian Shible, Chief Executive Officer of PURA. "Not many beverages even have the 10 mg concentration we currently deliver. Next to no beverage comes with 25 mg. We believe we can deliver 25 mg and still maintain our clean refreshing taste. We are considering introducing this first 25 mg beverage exclusively under the Generex label."
Medical Marijuana, Inc. (OTC: MJNA) aims to be the premier cannabis and hemp industry innovators, leveraging its team of professionals to source, evaluate and purchase value-added companies and products while allowing them to keep their integrity and entrepreneurial spirit. Medical Marijuana, Inc., subsidiary HempMeds®, recently announced the release of its newest cannabidiol (CBD) product Real Scientific Hemp Oil™ (RSHO™) Maximum Strength. RSHO™ Maximum Strength is the Company's most potent full-spectrum product, containing 4,500 mg of CBD in each 10-gram oral applicator to support overall wellness. This product features both CBD and CBDa in a proprietary blend of the company's premium hemp oils, including its RSHO™ Green Label raw CBD oil and RSHO™ Gold filtered CBD oil. It is also available in one-gram containers. "We developed Real Scientific Hemp Oil Maximum Strength because of our promise to continuously evolve and lead the industry with quality and innovation," said HempMeds® President Todd Morrow. "This product brings consumers a new level of full spectrum concentration to assist those who can benefit most from a higher concentration oral applicator product. We will continue to drive industry innovation and offer products that stand by our promise to deliver safe, high-quality and meaningful ingestible or topical formulations that can help make a difference for those who benefit from CBD."
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