The CBD-infused market shows no signs of slowing. In fact, according to Meticulous Research, the market could be worth up to $165.7 billion by 2027. “The major factors driving the CBD-infused products market include the rising demand and increasing legalization of cannabis, growing application of cannabis in cancer, and health benefits offered by cannabis-infused products,” they added. That’s all great news for companies such as Pure Extracts Technologies Corp. (CSE: PULL) (OTC: PRXTF)(XFRA: A2QJAJ), Canopy Growth Corporation (NASDAQ:CGC)(TSX:WEED), Tilray Inc. (NASDAQ:TLRY), Charlotte’s Web Holdings Inc. (TSX:CWEB)(OTC:CWBHF), and cbdMD Inc. (NYSE:YCBD).
In addition, according to Hemp Industry Daily, “Considering that the market could see favorable U.S. Food and Drug Administration guidance or legislation from Congress approving CBD in ingestible products next year, Nielsen expects that by 2025, the market for hemp-derived CBD products will generate $6.9 billion, – a threefold increase over five years.”
Look at Pure Extracts Technologies Corp. for example
Pure Extracts Technologies Corp. just announced that it has commenced production on approximately 50,000 Pure Chews edible gummies packs.
Demand for these types of products is strong in the 4 provinces (British Columbia, Alberta, Saskatchewan and Ontario) that the Company is targeting for its retail launch and revenue estimates associated with this batch are approximately $200,000. All the Pure Chews SKUs including the 10 mg THC packs of Fire Burst, Strawberry and Mango utilize a proprietary manufacturing system licensed from US based Taste-T, LLC (“Taste-T”), the manufacturer of Margarita Chill and Fireball Cinnamon products, to produce and package branded cannabis gummies that come in unique blister packaging.
Additionally, in the launch the Company plans to include 3 SKUs with varying levels of ultra-high potency CBD Pure Chews non-THC gummies.
Pure Extracts CEO, Ben Nikolaevsky, remarked, “May is going to be a very exciting month for us as we commence retail sales of gummies through our distribution partner. We plan to replicate the success that our licensing partner, Taste-T, is experiencing in US states including Nevada, Massachusetts, Michigan and Oklahoma. Our exceptionally pure products are in high demand and we have a range in potencies and flavours that consumers will certainly enjoy.”
Other related developments from around the markets include:
Canopy Growth Corporation, and The Supreme Cannabis Company, Inc. announced that they have entered into a definitive arrangement agreement under which Canopy will acquire all of Supreme Cannabis’ issued and outstanding common shares in a transaction valued at approximately $435 million on a fully-diluted basis. Under the terms of the Arrangement Agreement, Supreme Cannabis shareholders will receive 0.01165872 of a Canopy common share and $0.0001 in cash in exchange for each Supreme Cannabis Share held. The Transaction provides Supreme Cannabis shareholders with a premium per Supreme Cannabis Share of approximately 66% based on the closing prices of the Supreme Cannabis Shares and Canopy common shares on the Toronto Stock Exchange as of April 7, 2021.
Tilray Inc., a global pioneer in cannabis research, cultivation, production, and distribution, announced both Institutional Shareholder Services Inc. and Glass Lewis and Co., LLC have recommended that holders of Tilray common shares vote FOR the proposals to complete the business combination between Aphria Inc. and Tilray. ISS and Glass Lewis are the world’s leading independent proxy advisory firms that provide voting recommendations to institutional shareholders. Tilray Shareholders who held Shares as of the March 12, 2021 record date are eligible to vote those Shares at the April 16, 2021 Tilray special meeting. All Shareholders are encouraged to have their voices heard in regard to this very important matter concerning their investment in Tilray, regardless of the number of Shares held.
Charlotte’s Web Holdings Inc. reported financial results for the fourth quarter and year ended December 31, 2020. "We turned a challenging start to 2020 into a strong finish, taking multiple actions and outperforming much of the competitive set to extend our brand and market share leadership," said Deanie Elsner, CEO of Charlotte's Web. "We filled product and channel gaps with competitive offerings and advanced the science of hemp CBD through CW Labs and collaborative studies with top tier institutions. We have now protected our intellectual property with 5 patents awarded for our proprietary cultivars and have defended our trademarked Charlotte's Web™ brand though a recent judgement. In 2021 we are positioning for long-term growth and shareholder value creation as we evolve towards establishing Charlotte's Web as a leading global botanicals wellness company by expanding into cannabis wellness where federally permissible. To support our international growth we have an exclusive agreement with one of Israel's largest medical cannabis producers, and in the U.S. we secured future optionality through a strategic option to acquire Stanley Brothers cannabis business pending US federal legalization of cannabis."
cbdMD Inc. announced that it has signed an exclusive CBD sponsorship with highly decorated professional golfer, and 9-time PGA TOUR winner, Patrick Reed, to become the latest high profile member of Team cbdMD. Beginning this week at the 2021 Masters Tournament in Augusta, and continuing at all 2021 PGA TOUR and European Tour events in which Reed is competing, cbdMD’s exclusive sponsorship with Patrick Reed will be on full display, with the front of Reed’s new, official headwear featuring the cbdMD logo.
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for Pure Extracts Technologies Corp. by Pure Extracts Technologies Corp. We own ZERO shares of Pure Extracts Technologies Corp. Please click here for full disclaimer.
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