PALM BEACH, Florida, March 26, 2019
PALM BEACH, Florida, March 26, 2019 /PRNewswire/ -- Over the previous few years, CBD has slowly grown in both consumer awareness and acceptance… but it has hit a point where there's no going back and the momentum has retailers of all stripes wanting to get their own seat at the table. A February 2019 article on the CNN Business site, titled "America's stores are taking the leap into cannabis products" commented on this surge: "Retailers are racing to grab a piece of the booming CBD market. Stores like DSW, Neiman Marcus, and Barney's all recently began selling beauty products that feature (CBD). Barney's upped the stakes (recently) when it revealed plans for a small, cannabis-themed shop at its Beverly Hills store that showcases CBD beauty products, along with glass pipes, gold rolling papers, and grinder necklaces. "There is a demand for high-end CBD products," Kim D'Angelo, Neiman Marcus' beauty buyer, told CNN Business. "CBD products are the next big thing in beauty." The moves by these companies are a clear signal that CBD, the non-psychoactive cousin of THC, is hitting retail's mainstream. The industry is expected to grow to $22 billion over the next three years, according to cannabis research firm Brightfield Group. The market for hemp-based CBD products reached $619 million in the United States (in 2018), Brightfield estimated. But changing consumer attitudes will drive up sales in the coming years, analysts say. Active Companies from around the market with current developments this week include: Marijuana Company of America, Inc. (OTC:MCOA), Kona Gold Solutions, Inc. (OTC: KGKG), Terra Tech Corp. (OTC: TRTC), PotNetwork Holdings, Inc (OTC: POTN), Liberty Health Sciences Inc. (CSE: LHS) (OTC: LHSIF).
According to an article published on Fortune.com, CVS Pharmacy is jumping on the CBD bandwagon. The company said in a statement to CNBC on Wednesday that it's now selling cannabidiol (CBD) products at locations across eight states, including Alabama, California, Colorado, and Maryland, among others. The company is selling everything from lotions to sprays and said that it's only working with CBD companies "that are complying with applicable laws and that meet CVS's high standards for quality."
Marijuana Company of America, Inc. (OTCQB:MCOA) BREAKING NEWS: Marijuana Company of America, an innovative hemp and cannabis corporation, is pleased to announce that the Company's wholly owned subsidiary hempSMART™ has entered into a strategic marketing agreement with MassRoots, Inc. (OTCQB: MSRT) to promote its hemp CBD formulated product line.
Under the terms of the agreement, MassRoots agreed to participate as an associate in the Company's associate marketing platform, to help promote and sell hempSMART™ products on www.massroots.com, as well as MassRoots' app and other social media outlets.
"We're excited to begin educating MassRoots' community of over a million cannabis consumers about hempSMART's™ innovative line of CBD products," stated MassRoots' Chief Executive Officer Isaac Dietrich. "We look forward to driving our audience to a company that focuses on providing consumers with the highest-quality of ingredients and products, which is ultimately why we're partnering with MCOA."
CEO of MCOA, Donald Steinberg, stated, "We are very proud to have the hempSMART™ CBD product line accepted by MassRoots as part of their marketing campaign. We are anticipating increased visibility for our product line by utilizing such a widely recognized media platform involved in the cannabis industry." Read this and more news for MCOA at: https://www.financialnewsmedia.com/news-mcoa/
In the industry developments and happenings in the market this week include:
Terra Tech Corp. (OTCQX: TRTC) a vertically integrated cannabis-focused agriculture company, recently announced that the City Council of San Leandro, CA voted last night to approve an ordinance for adult-use cannabis sales in the City of San Leandro. The ordinance is subject to a second reading which is scheduled to occur on April 1, 2019 and will go into effect on May 1, 2019. The ordinance would allow for existing medical dispensaries to sell cannabis to recreational users 21 years of age or older, starting May 1, 2019. The Company currently operates the only licensed medical cannabis dispensary open in the City at 1915 Fairway Drive San Leandro, CA, 94577.
PotNetwork Holdings, Inc. (OTCPK: POTN) Diamond CBD Inc., a wholly owned subsidiary of Pot network Holdings, Inc. and a leader in hemp extraction and innovative CBD products for the wellness market, hailed the return to the ring Saturday night (5/23/2019) of their widely celebrated prizefighter Jessie "El Peligroso" Magdaleno, who won the NABF Featherweight Title. Magdaleno, a former WBO super bantamweight titleholder bested Rico Ramos, winning a unanimous decision while sporting the Diamond CBD logo on his trunks to improve his already impressive record to 26-1-0, with 18 KOs.
The boxing sponsorships are a part of a series of strategic moves by Diamond CBD to maximize the reach of their brands and to ensure that their popular CBD edible, oil, and vape products are accessible beyond traditional e-commerce platforms.
Kona Gold Solutions, Inc.
(OTCPK: KGKG) a hemp and CBD lifestyle brand focused on product development in the functional beverage sector, has positioned itself to be the fastest growing beverage company in the Hemp sector with its popular Kona Gold Hemp Energy Drinks and HighDrate CBD Energy Waters. The Company has had exceptional growth over the last six months, signing 27 distribution partners across 16 states. Those distribution partners include four Anheuser-Busch distributors, large independent beverage distributors, and several boutique distributors.
The Company continues to execute on its 2019 forecast of $1.5 - $2 million annual revenue by having a record setting first quarter in 2019 with revenue currently over two hundred and fifty thousand dollars ($250,000) and a little more than a week left in the quarter. Kona Gold's conservative 2019 forecast does not take into account the product line extensions for Kona Gold Hemp Energy Drinks and HighDrate CBD Waters, with plans to add 4 additional and 2 additional flavors respectively this year.
Liberty Health Sciences Inc. (CSE: LHS.CN) (OTCQX: LHSIF) a provider of high quality cannabis, recently announced that it has received Florida Department of Health (DOH) approval to sell whole flower smokable products to patients in Florida, making it one of the first companies in the state to provide smokable medical marijuana in all of its dispensaries. The Company is awaiting DOH approval to provide pre-rolls to patients.
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