PALM BEACH, Florida, Feb. 20, 2019
PALM BEACH, Florida, Feb. 20, 2019 /PRNewswire/ -- In 2018 the U.S. Farm bill opened the floodgates and effectively launched the CBD business to never before seen heights, and the projections reflect the consumers' acceptance of CBD infused products. It may also be that with the millennials and the growing number of seniors buying CBD infused products, the projection may actually need to be updated! A recent article in FORBES opined that: " with CBD sales in the US expected to reach $22 billion by 2022, as projected by (a) cannabis market research company. Congress' re-regulation of hemp has presented a good reason for many to celebrate." The article continued: "2018 was the year CBD was on everyone's lips, thanks to plenty of media buzz and the suddenly-ubiquitous presence of an array of CBD-infused beverages, lotions and self-care products. It was also the year "CBD gummies" reached No. 3 on Google's most popular search terms. And I'm willing to go out on a limb that a significant portion of those searches were made by Baby Boomers." Active companies in the Cannabis market this week include Cannabis Strategic Ventures, Inc. (OTC:NUGS), HEXO Corp. (TSX: HEXO) (NYSE: HEXO), CannTrust Holdings Inc. (TSX: TRST) (OTC: CNTTF), Medical Marijuana, Inc. (OTC: MJNA), Tilray, Inc. (NASDAQ: TLRY).
The article continues with: "In a historic reconsideration of cannabis' Schedule 1 classification, the FDA proved willing to acknowledge that a component of cannabis actually does have therapeutic value… (the ) passage of the Farm Bill… ultimately guarantee a steady, domestic supply of CBD sourced from hemp. Like the FDA, Congress acknowledged that not all cannabis compounds are equal, and removed hemp (cannabis sativa with THC levels under 0.3%) from the restrictions of the Controlled Substance Act. With the availability of new hemp strains specially bred for high CBD content, American farmers, processors and many others along the revenue stream are eager to produce and distribute as much of this lucrative substance as the fast-growing market can accommodate."
Cannabis Strategic Ventures, Inc. (OTCPK:NUGS) BREAKING NEWS: Cannabis Strategic Ventures today announced it has secured up to a 3 million dollar investment from TRITON FUNDS subsequent to an upcoming S1 registration statement. TRITON FUNDS is a San Diego based investment fund focused on creating a greater sense of community through investments in local companies, entrepreneurs and philanthropy. The new partnership is led by TRITON FUNDS Advisor, Mr. Robert Hymers III CPA and alumni of California State University Northridge where TRITON FUNDS was founded.
The new financing will allow Cannabis Strategic Ventures to accelerate its business priorities related to cannabis cultivation operations in California and the expansion of existing portfolio brands such as The Asher House Wellness, Fitamins and LYXR.
"Cannabis Strategic Ventures is proud to partner with TRITON FUNDS, an organization with a mission that is closely aligned with ours, and who sees the potential of the larger cannabis industry," said Simon Yu, CEO, Cannabis Strategic Ventures. "California is instrumental in setting the pace for the larger cannabis industry-both nationally and globally, and we are thrilled to have found a local partner to escalate the projects that we believe will positively impact stakeholder value to create superior, sustainable returns."
TRITON FUNDS was started by three undergraduate students from Southern California aspiring to create an investment vehicle with a millennial touch. The Firm, partners with local limited partners, an advisory board, and academic mentors to create real-world opportunities for college students to invest in growing companies. Read this and more news for Cannabis Strategic Ventures at: https://www.financialnewsmedia.com/news-nugs
Other recent developments and major influences in the cannabis industry include:
HEXO Corp. (TSX: HEXO) (NYSE-A: HEXO) recently announced that it has entered into a syndicated credit facility with Canadian Imperial Bank of Commerce ("CIBC"), as Sole Bookrunner, Co-Lead Arranger and Administrative Agent and Bank of Montreal as Co-Lead Arranger and Syndication Agent (together with CIBC, the "Lenders"). Under the terms of the credit facility, the Lenders will provide HEXO up to C$65 million of secured debt financing at a rate of interest that is expected to average in the mid-to-high 5% per annum range over its three-year term.
The credit facility consists of a C$50 million term loan and a C$15 million revolving loan, with an uncommitted option to increase the facility by up to C$135 million, subject to the satisfaction of certain customary legal and business conditions. Both loans mature in 2022. HEXO may, at its discretion, repay the balance of the loans without penalty, at any time.
CannTrust Holdings Inc. (TSX: TRST) (OTCPK: CNTTF) last week announced that it has appointed Greg Guyatt , CPA CA as Chief Financial Officer ("CFO") effective February 19, 2019 , further strengthening the Company's leadership team. Greg has a wealth of experience in mergers, acquisitions and other transactions including an IPO on the London Stock Exchange, and the spin-off of Sears Canada on the NASDAQ. In combination with his extensive experience with dual-listed issuers, this expertise will be instrumental to CannTrust's financial and strategic planning leading up to listing on the NYSE.
"We are very pleased to have Greg join CannTrust and deepen the executive leadership team as we look towards our listing on the NYSE and beyond," said Peter Aceto , Chief Executive Officer.
Medical Marijuana, Inc. (OTCPK: MJNA) yesterday announced that they have welcomed former NFL placekicker Mike Hollis as their newest spokesperson for its subsidiary Kannaway® to help spread awareness on the benefits of cannabidiol (CBD) for athletes and active consumers.
"We are excited to bring Mike Hollis on our team and look forward to seeing him spread awareness on the health benefits of our CBD products," said Kannaway® CEO Blake Schroeder. "We have added Kannaway Premium Hemp Oil to Mike's morning and nightly routines and are eager for him to share his testimonial with it."
Tilray, Inc. (NASDAQ: TLRY) this week announced the closing of a previously announced definitive agreement ("the Agreement") to acquire all of the issued and outstanding securities of Natura Naturals Holdings Inc. ("Natura"), the parent company of a licensed cultivator of cannabis. Moving forward, the Natura facility will operate under the name High Park Gardens and serve as an additional cultivation facility to serve the medical and adult-use market in Canada.
As a result of the finalized acquisition, Tilray and High Park have obtained the 662,000 square-foot greenhouse cultivation facility, of which 155,000 square feet are currently licensed. There are also options to expand the facility to further increase production capacity. Natura, through a wholly-owned subsidiary located in Leamington, Ontario, is a licensed cultivator under the Cannabis Act specializing in the greenhouse cultivation.
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