Market Overview

Could Sales of CBD Infused Products Actually Surpass Legal Cannabis Sales

Share:

Could Sales of CBD Infused Products Actually Surpass Legal Cannabis Sales

PR Newswire

PALM BEACH, Florida, September 13, 2018 /PRNewswire/ --

MarketNewsUpdates.com News Commentary 

Consumers today interested in Cannabis Based and CBD infused products are being greeted by an explosion of new product innovations that can be purchased through many different individual products ranging from healthcare & medical products, pet products, beverage and edibles products and good ole fashion marijuana. According to a new report released today by the Brightfield Group, the hemp-derived CBD market alone will reach sales of $22 billion by 2022, outpacing cannabis sales, and surging from $591 million in 2018 -- that's a five-year CAGR of 132 percent. In some areas of the U.S. and Canada, natural organic food stores are expecting to not be able to keep cannabis based and CBD on the shelves and CBD can now even be found at massage spas, gyms, and through an growing number of direct sellers. But where the large-scale growth is expected over the next five years could actually be through mass market retailers. Active cannabis companies in the markets this week include Integrated Cannabis Company, Inc. (CSE:ICAN) (OTC:ICNAF), Namaste Technologies Inc. (OTC:NXTTF) (TSX-V:N), Friday Night Inc. (CSE:TGIF) (OTC:TGIFF), Ascent Industries Corp. (CSE:ASNT) (OTC:PGTMF), International Cannabrands Inc. (CSE:JUJU) (OTC:GEATF).

Integrated Cannabis Company, Inc. (CSE:ICAN) (OTCQB:ICNAF) BREAKING NEWS: Integrated Cannabis Company is pleased to announce the completion of a market ready Tetrahydrocannabinol (THC)-infused spray product and the required licensure for manufacturing of the product in Colorado.  

Over the past ten months the Company has engaged and worked with contractors, consultants and various state and municipal regulators in order to successfully gain licensing and approvals for facilities that manufacture CBD- and THC-infused products in the State of Colorado.

The THC product employs the same nanotechnology used to enhance the CBD-infused X-SPRAYS™, resulting in higher bioavailability and faster uptake versus capsules or powder.  The Company continues to enhance the flavor profiles in order to find an optimal formula.

"We are pleased to be adding THC products to our proprietary line of sprays and plan to launch via distribution in Colorado beginning in Q4 and shall pursue other legal markets thereafter," said Mr. John Knapp, CEO of Integrated Cannabis.

To best demonstrate the Company's activities in the Manufacturer of Infused Products (MIP) area, a chronological outline follows:

•    Completed the build out of a commercial kitchen adjacent to a licensed Medical and Recreational extraction lab

•    Completed Process Validation with the Colorado Marijuana Enforcement Division (MED)

•    Secured a high-quality CBD source from a supplier with Colorado Department of Public Health and Environment (CDPHE) Registration Certificate and Colorado Hemp License

•    Received Shelf Stability approval to sell X-SPRAYS™ CBD formulation in Denver

•    Received approval to sell CBD formulated products throughout all of Colorado

•    Secured a high-quality THC source from a duly licensed Colorado Medical and Recreational extraction lab

•    Received approval to sell THC formulated products throughout most of Colorado - only awaiting approval for City of Denver

•    Submitted Shelf Stability application to sell X-SPRAYS™ THC formulation in Denver  

Read this and more news for ICAN at http://www.marketnewsupdates.com/news/ican.html



Other recent developments in the cannabis industry include:



Friday Night Inc. (CSE:TGIF) (OTCQB:TGIFF) recently announced record sales for the month of July from its subsidiaries in Nevada. Alternative Medicine Association ("AMA") and Infused MFG ("Infused") reported combined sales in July of $1.6M CAD, a 362 percent increase over July 2017.  This record month of sales comes at the same time the company celebrates its first year anniversary. AMA's cannabis flower sales contributed 35 percent, while sales of concentrates generated 65 percent of AMA's revenues.  Infused's line of CBD products contributed 85 percent of sales, while 15 percent relates to its expanding hemp-based line. Sold in State-licensed dispensaries and retailers, AMA and Infused products continue to see increased sales and market share.



Ascent Industries Corp. (CSE:ASNT) (OTC:PGTMF) recently announced that through its wholly-owned subsidiary, Agrima Botanicals, the Company has entered into a supply agreement with the Ontario Cannabis Retail Corporation, operating as the Ontario Cannabis Store ("OCS"), to supply branded cannabis products to the adult-use market in the Province of Ontario. Under the terms of the agreement, Ascent will initially supply cannabis products for the OCS's online sales network, and will later supply Ontario's private retailers, once the Province implements an approved framework. In addition, Ascent recently signed an initial small-scale supply agreement with the British Columbia Liquor Distribution Branch.  Ascent continues to be engaged in advanced discussions with other provincial liquor boards and emerging private retail operators.



International Cannabrands Inc. (CSE:JUJU) (OTC:GEATF) earlier this month, the company announced it is closing on its strategic investment in Riotus SODO LLC, an operating unit of Riotus LLC ("Riotus"). Riotus provides its investors with an opportunity to capture value from facility and operations expansion, financing and consulting to the cannabis industry.  Riotus has strategic relationships in a number of important markets. The Company has chosen to invest US$600,000 to acquire 25% of Riotus SODO LLC, a limited liability company formed under the laws of Delaware. Riotus SODO has partnered with Solstice Holdings Inc., a leading brand and distribution company in Washington State.



Namaste Technologies Inc. (TSX-V:N.V) (OTCQB:NXTTF) on Wednesday announced that the Company's wholly-owned subsidiary, Namaste Bahamas Inc. ("Namaste Bahamas"), has signed a distribution agreement (the "Distribution Agreement") with BlueSky Biologicals Inc. ("BlueSky"); a private British Columbia company; whereby Namaste Bahamas will distribute BlueSky's full-spectrum, hemp-derived cannabidiol ("CBD") products in its UK and European marketplace. The UK has classified CBD as a food supplement, as such, Namaste has been focused on building a carefully curated CBD supply chain for its UK platform. Namaste's launch of CBD sales in the UK and EU are the first steps of the Company's initiative to leverage its platform, technology and consumer databases to enter into cannabis consumable sales in the UK and EU. In Canada, CBD is regulated under the Access to Cannabis for Medical Purposes Regulations ("ACMPR") program, which restricts non-ACMPR vendors from selling it. CBD is a type of cannabinoid which is present in both cannabis and industrial hemp. Most CBD products outside of Canada are produced using industrial hemp, which is naturally high in CBD and low in delta-9 tetrahydrocannabinol ("THC").



DISCLAIMER: MarketNewsUpdates.com (MNU) is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. MNU is NOT affiliated in any manner with any company mentioned herein. MNU and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. MNU's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. MNU is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed MNU has been compensated twenty five hundred dollars for news coverage of the current press releases issued by Integrated Cannabis Company, Inc. by a non-affiliated third party. MNU HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.



This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and MNU undertakes no obligation to update such statements.


Contact Information:

Email:  info@marketnewsupdates.com  

+1(561)325-8757


SOURCE MarketNewsUpdates.com

View Comments and Join the Discussion!