Growing Awareness of CBD's Multifaceted Nature Eases Pressure from Regulators
NEW YORK, Oct. 22, 2019 /PRNewswire/ -- The growing awareness of cannabidiol or CBD's health benefits has pushed the market into mainstream retail. Researchers have praised CBD for its multi-faceted uses such as its ability to alleviate minor conditions like headaches. However, CBD can also be used to treat serious symptoms associated with medical conditions such as cancer, epilepsy, and multiple sclerosis. Moreover, researchers have mentioned that CBD helps with quitting smoking and also mitigates the withdrawal symptoms. As a result, several countries are considering decriminalizing cannabis and potentially looking into legalizing it for recreational and medicinal purposes. For instance, countries such as Portugal, Canada, Ireland, Jamaica, Australia, Germany, and South Africa have all legalized cannabis for medical applications. Meanwhile, countries such as New Zealand and Mexico are possibly exploring legalizing cannabis entirely. However, the process to legalize cannabis is a tedious and lengthy process. Subsequently, more countries are inclined to legalize just the CBD aspect of the plat. To note, CBD is a derivative of cannabis, but it does not imbue its user with psychoactive effects unlike its THC counterpart. However, after extensive clinical trials, researchers have highlighted that CBD does offer similar therapeutic effects. And now, many see legalizing CBD is yet another step to potentially fully legalizing cannabis. According to data compiled by Technavio, the global CBD market is expected to accelerate at a CAGR of 31% during the forecast period from 2018 to 2022. Newleaf Brands Inc. (OTC: NLBIF) (CSE: NLB), HEXO Corp. (NYSE: HEXO) (TSX: HEXO), MariMed Inc. (OTC: MRMD), iAnthus Capital Holdings, Inc. (OTC: ITHUF) (CSE: IAN), Aleafia Health Inc. (OTC: ALEAF) (TSX: ALEF)
As the CBD industry continues to grow, the marketplace is becoming more populated and heavily concentrated with new businesses. Specifically, in the U.S. and Canada, consumers can easily purchase CBD-based products from their local convenience stores and even online e-commerce platforms. The improved accessibility of CBD has led to the exponential growth of the market in the North American region. Technavio even mentions that the Americas region is projected to account for 80% of CBD's global market growth. It is expected to witness the largest growth due to the number of businesses entering into the marketplace as well as growing consumer awareness about its health benefits. Generally, most companies advertise their products as a health and wellness solution. However, consumers can also use CBD to simply just relax after a tiring day. Nevertheless, most people are consuming CBD products for its benefits such as relieving inflammation or pain. Moreover, extracted CBD oils can also contain essential vitamins and nutrients to boost bodily functions. Notably, vitamins such as A, C, and E are heavily prevalent in CBD extracts. However, considering that the CBD industry is relatively new, researchers still need to conduct more clinical trials to fully understand the efficacy of CBD. And as research continues to deliver positive data, more and more countries will explore opportunities within the CBD industry. "There is plenty of room for growth here," believes Confident Cannabis VP of Growth & Marketing Brad Bogus, according to Civilized. "CBD is sort of stuck in between prohibition era policies and federal acceptance. Where it goes from here in the world of Big Pharma is hard to say, but the direction will be up, in some velocity. Seniors are more keen to try a CBD product over a THC product, so even on the regular non-pharmaceutical market, CBD will still snag a good portion of untapped market share. International trade of source material is another big advantage of the CBD market, to help it grow."
Newleaf Brands Inc. (OTC: NLBIF) (CSE: NLB) is also listed on the Canadian Securities Exchange under the ticker (CSE: NLB). Earlier last week, the Company's wholly owned subsidiary We Are Kured, LLC ("Kured") announced that, "it has successfully manufactured and fulfilled its first large white label 510 thread refill cartridge order for Indiana based distribution company, Must Haves, LLC ("Must Haves"). Must Haves is a well-established CBD distributor within the CBD community and has built strong relationships with CBD retailers around the greater Chicago, USA area.
As previously announced on September 5, 2019, Kured entered into a white label agreement with Must Haves, whereby Must Haves has agreed to purchase Kured's white label 510 thread CBD cartridges for distribution under Must Haves brand. The Must Haves branded 510 thread CBD cartridges include terpene profiles such as Trainwreck and Blueberry Cookies.
Benjamin Martch CEO of Kured and CMO of NewLeaf Brands Inc. commented, 'These white label agreements have proven to be a great move for Kured and the clients that we work with. Kured's white label division offers custom vaporizer products of all different types utilizing our cutting-edge processes and formulations while keeping the ability for custom terpene profiles, look and feel open to the customer's desires. We are able to fill orders of any size or liking in an incredibly short amount of time due to our large in-house manufacturing capacity. We look forward to not only working with existing clients, but also assisting a number of future clients to fulfil their CBD needs.'
ABOUT NewLeaf Brands: NewLeaf Brands, Inc. is an innovative Cannabidiol ("CBD") lifestyle Company. Through the Company's wholly-owned subsidiaries We are Kured, LLC, Drink Fresh Water, LLC, ReLyfe Brand, LLC and TeaLief Brand, LLC the Company's main business activities encompass the development, marketing, and distribution of CBD products (including vaporizer pens/cartridges, hot/cold tea, softgel capsules and beverages) throughout North America, South America, and Europe. In addition, NewLeaf Brands, Inc. has extensive retail and cultivation land investments in Oregon, USA."
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HEXO Corp. (NYSE: HEXO) (TSX: HEXO) is an award-winning consumer packaged goods cannabis company that creates and distributes prize-winning products to serve the global cannabis market. HEXO Corp. and Newstrike Brands Ltd. recently announced that they had entered into a definitive arrangement agreement under which HEXO will acquire, by way of a plan of arrangement under the Business Corporations Act (Ontario), all of Newstrike's issued and outstanding common shares in an all-share transaction valued at approximately USD 263 Million. The Transaction gives HEXO the capacity to produce approximately 150,000 kg of high-quality cannabis annually. The Transaction also provides HEXO access to four cutting-edge production campuses totalling close to 1.8 million sq. ft. of near-term cultivation space and diversified growing and production techniques. This is in addition to HEXO's 579,000 sq. ft. facility for a manufacturing and product development center of excellence in Belleville, Ontario. Combined, HEXO and Newstrike have established distribution agreements in 8 provinces including Ontario, Quebec, British Columbia, Alberta, Saskatchewan, Manitoba, Nova Scotia, and Prince Edward Island, allowing broad consumer access to HEXO's products across Canada. Newstrike's licensed indoor facility provide HEXO with access to diversified growing techniques and positions HEXO for flexibility for international exports as global cannabis markets continue to open. "We're thrilled to welcome the Newstrike team into the HEXO family. Jay Wilgar (Chief Executive Officer of Newstrike) and his team have built incredible relationships, including teaming up with The Tragically Hip, and they share HEXO's vision of bringing exceptional branded cannabis experiences to adults everywhere," said Sebastien St-Louis, Chief Executive Officer and Co-Founder of HEXO Corp. "With Newstrike, we're adding talented employees and infrastructure to take HEXO to the next level on our journey to become one of the largest cannabis companies in the world. We're extremely proud of our record of execution, and today are committing to achieving over USD 400 Million in net revenue in 2020."
MariMed Inc. (OTCQB: MRMD), a multi-state cannabis operator, is dedicated to improving the health and wellness of people through the use of cannabinoids and cannabis products. MariMed Inc. recently received a special permit to allow its Panacea Wellness(TM) dispensary in Middleborough to merchandise cannabis products under the Massachusetts adult use program. It will now proceed at the Cannabis Control Commission (CCC) for adult use final approval. The dispensary has already received town approval for medical use. The state's Cannabis Control Commission is anticipated to give the go-ahead to open Panacea Wellness under the medical use program following the inspection of the dispensary earlier this week. "This special permit brings Panacea Wellness another important step closer to participating in Massachusetts's adult-use cannabis program," said MariMed Chief Operating Officer, Tim Shaw, "and keeps us on track to becoming the first company to provide top-quality cannabis medicines to the residents of Middleborough and the surrounding area.
iAnthus Capital Holdings, Inc. (OTCQX: ITHUF) (CSE: IAN) owns and operates best-in-class licensed cannabis cultivation, processing and dispensary facilities throughout the United States, providing investors diversified exposure to the U.S. regulated cannabis industry. CBD For Life, a subsidiary of iAnthus Capital Holdings, Inc. recently announced that it is continuing to expand its retail presence with a partnership with Dillard's, Inc. "We're excited for our products to be featured on the shelves of one of the largest and most well-regarded fashion retailers in the United States," said Beth Stavola, Co-Founder of CBD For Life and Chief Strategy Officer of iAnthus. "The ability to reach an even broader audience via the well-established customer base of a great partner like Dillard's brings us another step closer to achieving our end goal of establishing CBD For Life as a household name in beauty and wellness."
Aleafia Health Inc. (OTCQX: ALEAF) (TSX: ALEF) is a leading, vertically integrated cannabis health and wellness company with four primary business units: Cannabis Cultivation & Products, Health & Wellness Clinics, Cannabis Education, and Consumer Experience with ecommerce, retail distribution and provincial supply agreements. Recently, Aleafia Health Inc. has been granted approval by Health Canada for outdoor cannabis cultivation. On June 7th, 2019, the Company's wholly-owned subsidiary Aleafia Farms Inc. was granted a new Standard Cultivation License issued under Health Canada's Cannabis Regulations at the Company's Port Perry facility. "Our promise made last year to cultivate outdoors in 2019 is now a reality," said Aleafia Health Chairman Julian Fantino. "We will continue to lead the way in low-cost production. This milestone exponentially increases our total cultivation footprint while securing product supply for our medical cannabis patient base."
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