The CBD vape market is expected to gain momentum.
In fact, according to Data Bridge Market Research, the market could be worth up to $28.05 billion by 2027 at a CAGR of 22.25%. “Increasing CBD oil usage in several medical applications such as treatment of anxiety and depression, stress relief, diabetes prevention, mitigation of pain, alleviation of cancer symptoms, and acne reduction will likely accelerate the growth of the CBD vape juice market in the forecast period of 2020-2027.”
In addition, “Thanks to the swiftly rising popularity of CBD vaping, more and more people have moved towards CBD vapes, including both regular vapers and older cigarette smokers,” reports View the Vibe. “A CBD vape pen, or a CBD vaporizer, is a small device capable of vaporizing a small quantity of CBD oil into a breathable vapor. Inhaling this vapor is a lot like smoking, except it involves absolutely no combustion, nor does it carry with it anything other than vaporized e-juice (contrasting the plant matter, paper, etc. from cigarettes).”
That Could Help Drive Big Interest in Companies, Such as Pure Extracts Technologies
Pure Extracts Technologies Corp.(CSE:PULL)(OTC:PRXTF)(XFRA:A2QJAJ) just announced that its wholly owned subsidiary, Pure Extracts Manufacturing Corp., has ordered in excess of 30,000 vape cartridges and vape pens for the Canadian market.
These vape products are produced by a global manufacturer and adhere to the highest North American standards and are expected to arrive at the Company’s British Columbia facility in the first week of April. These products were specifically chosen for the quality of their component parts, their fit and finish and their performance characteristics when paired with Pure Extracts’ oil concentrates. This timing coincides with Pure Extracts’ ramp-up for its recently announced retail distribution agreement and its submission of over 20 product SKUs to Health Canada for approval. The cartridges will be filled with a selection of some of the Company’s 30+ proprietary, full spectrum oil (FSO), formulations.
Demand for these types of concentrates is strong in the 4 provinces (British Columbia, Alberta, Saskatchewan and Ontario) that the Company is targeting for its retail launch and revenue estimates for this shipment are approximately $650,000.
Pure Extracts CEO, Ben Nikolaevsky, remarked, “We are looking forward to building our vape pen inventory in preparation for our retail launch through established provincial distribution channels. At the same time, we plan to launch our Pure Chews brand of CBD and THC edible gummie products and we have been steadily accumulating all the components from the oil extracts to the flavouring to our proprietary packages.”
Other related developments from around the markets include:
Aleafia Health Inc. (TSX:AH)(OTC:ALEAF) will announce its 2020 fourth quarter and fiscal year results on March 25, 2021 prior to market open. The Company will also host its earnings conference call the same day at 8:30 a.m. EST. The call will be hosted by CEO Geoffrey Benic and CFO Benjamin Ferdinand.
Canopy Growth Corporation (NASDAQ:CGC)(TSX:WEED), a world-leading diversified cannabis, hemp, and vaporization device company, has entered the high-potential U.S. CBD beverage category with the launch of Quatreau, a premium ready-to-drink CBD-infused sparkling water. The stateside launch follows the successful 2020 rollout of Canopy Growth’s CBD-infused beverages in Canada, where Quatreau is now the top-selling ready-to-drink CBD beverage. Quatreau sparkling water contains 20 mg of premium, U.S. grown hemp-based CBD and one of four refreshing flavors. With an MSRP of $3.99 per 12-ounce can, Quatreau is a functional zero-sugar drink that delivers a natural, low calorie beverage alternative at an accessible price point.
Tilray Inc. (NASDAQ:TLRY), a global pioneer in cannabis research, cultivation, production and distribution, reported financial results for the full fiscal year and fourth quarter ended December 31, 2020. Brendan Kennedy, Tilray’s Chief Executive Officer, stated, “Over the course of 2020, and despite COVID-19 related challenges, we transformed and strengthened Tilray, delivered solid full year results, significantly reduced net loss, and achieved our stated goal of delivering break even or positive Adjusted EBITDA in Q4 2020. We did so by generating meaningful revenue growth across our core businesses, particularly international medical and Canadian adult-use in Q4, and reducing costs by $57 million on an annualized basis compared to Q4 of 2019. As a result, we now operate with a more focused, efficient and competitive cost structure. We also strengthened our balance sheet and positioned Tilray for growth and success in the future in combination with Aphria. These results required hard work and dedication and I sincerely appreciate everything the Tilray team has done to transform our business during 2020. We now look forward to the beginning of the next chapter in our corporate journey.”
Trulieve Cannabis Corp. (CSE:TRUL)(OTC:TCNNF), a leading and top-performing cannabis company in the United States, will release its fourth quarter 2020 financial results on Tuesday, March 23, 2021, before markets open. Following the earnings release, management will host a conference call at 8:30 AM Eastern Time to review the financial results.
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 a third party. We own ZERO shares of Pure Extracts Technologies Corp. Please click here for full disclaimer.
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