LONDON, Feb. 12, 2020 /PRNewswire/ -- As the cannabis industry continues its evolution, competition among companies is becoming more and more ferocious. Over the past year, cannabidiol-based (CBD) products have swiftly emerged thanks to various successful legalization efforts. Specifically, in regions such as the U.S. and Canada, consumers have flocked to retailers to buy a wide range of CBD products including topicals, beverages, tinctures, and patches. In addition, major retail corporations such as Amazon, Walgreens, and CVS have all decided to sell CBD products in-store as well as on their online platforms. Overall, the rapid acceleration of the market is attributable to the passage of the U.S. Farm Bill in late 2018, which legalized the commercialization of hemp-derived products. Yet, despite the growing demand for CBD products, it has become more and more difficult for new players to compete in this market space. Generally speaking, pre-established players such as large corporations with surplus marketing budgets or known dispensaries tend to dominate the marketplace. Nonetheless, the U.S. remains the largest contributor to the global cannabis market, even as the country has yet to federally legalized the plant. And according to data compiled by GlobalInfoResearch, the global legal marijuana market was valued at USD 7.97 Billion in 2019. By 2024, it is expected to reach USD 35 Billion while registering a CAGR of 28% over the next five years. Global Payout, Inc. GOHE, The Supreme Cannabis Company, Inc. SPRWF, AXIM Biotechnologies, Inc. AXIM, Aleafia Health Inc. ALEAF, Medmen Enterprises Inc. MMNFF.
The growing popularity of CBD is largely attributed to various medical applications that are associated with the products. For example, full-spectrum CBD oil is considered a great source of Omega 3 and Omega 6; Omega 3 plays a vital role in creating hormones that regulate inflammation as well as contractions and relaxation of arteries. They also lower your triglyceride levels in the blood to reduce the chances of suffering from heart disease and stroke. Additionally, the oil is also known to contain vitamins such as A, C, E, and B complex, which can help with the growth and development of vital organs and boost the body's immune system. "The research is emerging to support the use of CBD for numerous conditions, as well as looking closely at safety, side effects, and long-term effects. There are some valid concerns about long-term use that must be tested before CBD can be recommended for other diseases. As one approach to pain management, it is seen as an alternative option to the addicting narcotics. The use of CBD oil might complement a medical approach to treating physical and mental diseases," said Debra Rose Wilson, PhD, MSN, RN, IBCLC, AHN-BC, CHT.
Global Payout, Inc. GOHE announced earlier this week that it had "executed a binding Memorandum of Understanding ("MOU") with World Innovation Technologies ("WIT") to acquire a 51% ownership of WIT, making it a majority owned subsidiary of the Company.
WIT is a manufacturer of Nutraceutical products that are ready to be deployed into the market and both companies have agreed they can benefit from Global's experience with sales and marketing of new product launches. Global will take over all sales and logistics efforts on behalf of WIT and in exchange will receive 50% of all revenue generated in the new subsidiary.
"This acquisition has been in the works for some time and represents the first step in our overall goal to diversify Global Payout's holdings," said Global Payout CEO, Vanessa Luna. "I believe WIT to be an up and coming player in the multibillion-dollar nutraceuticals market, one that many analysts believe will continue on a strong growth trajectory over the next couple of years. I have had the personal pleasure of working with the Executive Team of WIT on multiple business initiatives over the past decade. I am grateful they decided to entrust my team and I to bring these products to market and meet the current demand they are facing. We are excited to develop a strong go-to-market strategy for the company and identify the many possible revenue streams that will be derived from this partnership."
WIT comes with major products lines such as dose K-Cup, Button Blast Dosing Cap, Sports Blast Dosing Cap, Straws Dissolving Beads, Microencapsulation, Pharma Blast, and more (All products are patent protected).
"We have personally seen firsthand the success Ms. Luna and her team bring to any company they work with. We were thoroughly impressed with their most recent endeavor with MTrac and how quickly they managed to dominate a market space with a new technology launch. It is that level of expertise that ultimately brought us together in this new venture. We are currently experiencing high demand for our products in caffeine, cbd, cosmetics, nutra, and more. We are eager to finalize this acquisition and look forward to working together to bring our products to the masses," said Mr. Roy Anthony, on behalf of WIT.
As Global works with WIT to finalize the details of the acquisition the Company will keep shareholders apprised of its progresses.
For more information on WIT please feel free to visit their website at https://www.innonutra.com/
About Global Payout, Inc. GOHE: Since the Company's inception in 2009, Global Payout, Inc. has been a leading provider of comprehensive and customized prepaid payment solutions. From 2014 to 2017 Global focused on identifying new state of the art technologies in a variety of industry sectors and successfully helped launch MoneyTrac Technology Inc. and other companies within the FinTech space. In 2018, Global completed a reverse triangular merger with MoneyTrac Technology Inc. resulting in Global retaining the wholly owned subsidiary, MTrac Tech Corporation. Global's current focus is continuing to identify new business opportunities while it reorganizes its future business endeavors.
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The Supreme Cannabis Company, Inc. SPRWF announced last December, the launch of Sugarleaf by 7AC ("Sugarleaf"). Sugarleaf is Supreme Cannabis' newest introduction of high-quality cannabis experiences to the Canadian marketplace. Sugarleaf widens the Company's product offerings and targets consumers who demand a more refined, milder consumption experience as they discover their own cannabis taste preferences and desires. Sugarleaf products are created using the sugary-looking, trichome-dense, dry-cured sugar leaves from 7ACRES' coveted strains. Made with the high-end 7ACRES strains that consumers trust, Sugarleaf offers a consistently high-quality, smooth and flavourful taste, and aroma. Sugarleaf's first product will be rolled joints made with fan-favourite strains of 7ACRES. Additional product formats, focused on offering consumers elegant, ready-to-enjoy and convenient cannabis experiences, will be introduced to the market in the new year, including cannabis 2.0 products.
AXIM Biotechnologies, Inc. AXIM, a world leader in cannabinoid research and development, announced back in October, that its nutraceutical division, AXIM® Wellness, has launched its flagship nutraceutical product line, AXIM® Wellness Gum ("Wellness Gum"), at the Benzinga Cannabis Capital Conference in Chicago, IL. AXIM has also begun accepting consumer and wholesale orders on its new Wellness Gum website. This new patented product line offers consumers with the best absorption, best bioavailability and the best way to consume cannabinoids. "We are excited for the launch of the Wellness Gum product line during the Benzinga Cannabis Capital Conference and look forward to discussing our new cannabinoid-based nutraceutical gum line with the cannabis community," said John W. Huemoeller II, Chief Executive Officer of AXIM® Biotech. "AXIM is also proud to offer retailer and practitioner wholesale programs that give business owners the opportunity to earn additional revenue while offering their customers the benefits of our full-spectrum CBD gum such as the highest bioavailability and absorbency on the market."
Aleafia Health Inc. ALEAF wholly-owned subsidiary, Emblem Cannabis Corporation, announced last month, a definitive licensing agreement (the "Agreement") with Kinstate, Inc. ("Kinstate") to bring its award-winning, cannabis-infused sublingual strips brand and underlying sublingual strip technology to the Canadian medical and adult-use cannabis market. The Agreement provides the Company with the exclusive Canadian rights to manufacture, market and sell certain Kin Slips products, along with rights to use the associated proprietary formulations, manufacturing methodology and intellectual property provided by Kinstate and options for the Company to offer the format into certain other international markets. Kin Slips, along with many new cannabis formats, will be produced in-house at the Company's Paris, Ontario processing facility. "The innovative excellence of Kinstate's Kin Slips product line has been tested in the world's largest cannabis market," said Aleafia Health CEO Geoffrey Benic. "Our approach of leveraging the formulas, branding, equipment, packaging and production know-how of tried and tested partners significantly accelerates our objective of bringing to market a portfolio of unique, premium cannabis health and wellness brands."
Medmen Enterprises Inc. MMNFF recently announced the opening of two new locations in the state of Florida: Central Orlando and Tallahassee. The Company now has seven operational stores in Florida, with five additional store openings in the state planned for the remainder of the calendar year. The Company is licensed for 35 retail locations in the state. MedMen Buds, the Company's new loyalty program will be available to all patients at these locations. In addition, MedMen's fully owned and operated, same-day delivery platform, which currently services California and Nevada, will be available to Florida patients soon. Together with loyalty and delivery, the Company's new store locations align with MedMen's national retail strategy of providing an industry-leading omni-channel experience to all consumers. In addition to expanding its retail footprint, MedMen remains one of the lead supporters of the recently launched constitutional amendment campaign to bring safe, regulated, and legal cannabis for adults 21 years and older in the state of Florida. The campaign committee "Make it Legal Florida" is chaired by MedMen's own Vice President of Government Affairs, Nick Hansen.
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