Hemp Depot CEO and Co-Founder Andy Rodosevich quoted as a leading executive in the CBD industry on his forecast for the future growth of the CBD market, noting “Because of the tremendous range of products in which CBD is a fit, we expect to see it on shelves, literally, everywhere. Wholesale order numbers are climbing dramatically, which is one of the first signs of significant market expansion.”
Since passage of the U.S. Farm Bill in 2018, the CBD market is moving towards mainstream retailers with sales projected to be well over $20 billion by 2024, according to a report from BDS Analytics and Arcview Market Research, as noted by Forbes. “Because of the tremendous range of products in which CBD is a fit, we expect to see it on shelves, literally, everywhere. Wholesale order numbers are climbing dramatically, which is one of the first signs of significant market expansion,” said Andy Rodosevich, CEO and cofounder of Hemp Depot, as also quoted by Forbes. That’s opening a wide range of opportunity for companies including The Yield Growth Corp. (CNSX:BOSS.CN) (OTCQB:BOSQF), HEXO Corporation (NYSE:HEXO)(TSX:HEXO.TO), Curaleaf Holdings Inc. (CNSX:CURA.CN) (OTCQX:CURLF), Cresco Labs Inc. (CNSX:CL.CN)(OTCQX:CRLBF), and Zynerba Pharmaceuticals Inc. (NASDAQ:ZYNE).
The Yield Growth Corp. (CNSX:BOSS.CN)(OTCQB:BOSQF) BREAKING NEWS: The Yield Growth Corp. just announced the development of 6 innovative, new products to add to its growing catalogue of Ayurveda-inspired, hemp-powered products across a variety of categories. The new products include 2 bath body soak sachets, 1 foot bath sachet, 1 eye relief sachet, and 2 exotic body oils. Each of these products has been developed so they can easily be infused with CBD, THC and other cannabinoids. Yield Growth is developing and testing these hemp-powered products in a laboratory in Vancouver, British Columbia to expand on its catalogue of over 200 products, and may commercially launch them through some of its brands. Yield Growth’s cannabis brands include Jack n Jane, a THC and CBD product line launching in Canada, Wright & Well THC products, launching in Oregon and Wright & Well CBD products launching in California, as well as Urban Juve hemp-based skincare products, which are sold worldwide.
On October 17, 2019 cannabis topical products were legalized in Canada, with products expected to hit the shelves as early as December. A report by Jefferies states that within the cannabis sector, product forms are evolving in the U.S. While in 2014, 69% of cannabis sold in legalized states was bulk flower, today that figure is just 40% with the emergence of other cannabis derivatives, such as edibles, topicals, and beverages, which represent the most lucrative opportunities in part due to the high product margin structures. Yield Growth has sought to stay on trend with the evolving market for cannabis products by continuing to expand its catalogue of wellness formulas that address the needs of discerning consumers seeking natural, non-toxic solutions for health and wellness.
Yield Growth’s new products may present an innovative way to relieve pain and enhance relaxation with THC. Using these ready-to-go sachets, consumers will be able to steep themselves in a warm bath of cannabis, salts, clay, herbs and essential oils. The sachet/tea bags are specifically formulated to allow the body to fall into deep relaxation after simply tossing the sachet into the tub and allowing it to steep for a few minutes. Clean up is easy, as the herbs remain in the bag. Feet also need loving and Yield Growth has formulated a foot soak tea bag just for them. Tea bags have long been used for tired and aching eyes, and Yield Growth’s tea bag eye sachets contain nine healing herbs and essential oils for immediate relief. Yield Growth has also developed 2 new moisturizing and hydrating body oils featuring chia seed oil and sacha inchi oil from South America. Based on Ayurveda philosophy, both oils are extracted at low temperature without the use of chemicals or solvents to preserve the oils’ nutritional properties. Chia seed organic oil has the perfect 3:1 ratio of Omega 3 to Omega 6 essential fatty acids required for optimum skin health. It is a rich source of antioxidants and phytonutrients, which protect the skin against environmental pollution and help to reduce the appearance of skin aging. Sacha inchi, which grows in the Peruvian Amazon Rainforest, is a rich source of Vitamin E and one of the richest vegetable sources of Omega 3, Omega 6 and Omega 9.”Ayurveda provides simple scientific analysis and artistic creativity to guide us to a balanced lifestyle,” says Bhavna Solecki, Yield Growth Director of Product Development. “Yield Growth is continuously working on creating new wellness lifestyle products that are designed to be integrated into daily practices.”
Other cannabis-related developments from around the markets include:
HEXO Corporation (NYSE:HEXO)(TSX:HEXO.TO) just announced it has received licenses from Health Canada for its cannabis Centre of Excellence in Belleville, Ontario, for research, and for the sale of cannabis topicals, extracts, edibles and beverages from its flagship Gatineau campus. “The research license will allow us to take our innovation work to the next level, with testing on derivative products, including taste testing. Consumers have high expectations for their packaged goods experiences, and cannabis will be no different,” said Sebastien St-Louis, CEO and co-founder of HEXO Corp. “We are committed to not only ensuring a quality consistent experience but to also guaranteeing that experiences powered by HEXO meet these expectations.” While a Processing License provides for testing on live plants, fresh and dried plant material, seeds, and oil, a Research and Development License significantly expands the scope of work that can be conducted on cannabis and its derivatives. The Company plans to conduct research and development at its Vaughan and Montreal Innovation, Development and Engineering hubs, as well as at its Centre of Excellence in Belleville and in other facilities.
Curaleaf Holdings Inc. (CNSX:CURA.CN)(OTCQX:CURLF) announced that on Friday, September 27, 2019 Executive Chairman Boris Jordan purchased 100,000 shares of Curaleaf stock on the open market at an average price of $8.21 per share. Executive Chairman Boris Jordan commented, “This is an exciting time for Curaleaf and our industry, and I have never been more confident in our future. Curaleaf is well positioned for long-term growth and profitability. Our industry is on the brink of tremendous growth, especially as lawmakers on both sides of the aisle are recognizing the need to advance regulation like the SAFE Banking Act. Curaleaf is in the best position to lead this industry and create value for shareholders for the long-term.”
Cresco Labs Inc. (CNSX:CL.CN)(OTCQX:CRLBF) announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, in respect to Cresco Labs’ pending acquisition of Tryke Companies. The waiting period, during which the Transaction could not be completed, expired without the issuance of a so-called “second request” by the United States Department of Justice Antitrust Division. The Transaction is anticipated to close during the first half of 2020 and is subject to certain closing conditions, including the approval from the States of Nevada, Arizona and Utah. “At Cresco, we embrace compliance. Obtaining this milestone is indicative of the hard work Cresco and other companies in the industry have been doing to work with regulators,” said Charlie Bachtell, Cresco Labs CEO and Co-founder. “This transaction represents the final major piece of our targeted footprint. Upon the closing of the Transaction, Cresco will have cultivation, processing, and retail assets in strategic and culturally significant legal states representing 71% of the U.S. addressable cannabis market. The Company’s focus on distribution and brand building will enable it to continue to capture solid market share in each of these key states as legal markets continue to develop.”
Zynerba Pharmaceuticals Inc. (NASDAQ:ZYNE) announced positive top line results from the open label Phase 2 BELIEVE 1 (Open Label Study to Assess the Safety and Efficacy of Zygel (ZYN002) Administered as a Transdermal Gel to Children and Adolescents with Developmental and Epileptic Encephalopathy) clinical trial. The trial assessed the safety and efficacy of Zygel in developmental and epileptic encephalopathies (DEE), a heterogeneous group of rare pediatric epilepsy syndromes, including Dravet syndrome (DS) and Lennox-Gastaut syndrome (LGS). DEE is characterized by the presence of multiple focal and generalized seizure types and severe cognitive and behavioral impairment. The most common and debilitating seizure types in people with epilepsy are focal impaired-awareness and convulsive seizures. Patients who experienced these seizure types achieved 44% to 58% monthly median reductions in seizures compared to baseline from month two to month six of treatment with Zygel. Further, qualitative assessments by caregivers in the study demonstrate that use of Zygel may result in improved socio-behavioral and cognitive symptoms of DEE. Zygel was also well tolerated in this study.
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Article: CBD Market Seeing First Signs of Significant Market Expansion The Globe and Mail