Just as more and more humans are using hemp and cannabis products to cure what ails them, pet owners are so to treating their beloved animals with similar products. Looking to capitalize on the trend, diversified "green" product maker EnviroTechnologies International Inc. (OTCPK:ETII) said Wednesday that its subsidiary CBD Health Co. is at the end of the development phase and ready to launch of new line of hemp-based pet supplement products into the $7 billion worldwide pet market.
EnviroTech acquired CBD Health in January.
The new line of premier cannabidiol (CBD) products will include tinctures, balms, treats and food supplies designed specifically for animals. While still debated by many as purely anecdotal, medical studies show - and there is a growing choir of voices supporting - medicinal benefits of CBD products to treat chronic pain, nausea, epilepsy and anxiety, amongst other things.
CBD is one of over 110 cannabinoids found in cannabis. Unlike fellow cannabinoid tetrahydrocannabinol (THC), CBD is not accompanied by the psychoactive "high" often associated with cannabis. While hemp and cannabis are often used incorrectly as interchangeable, they come from the same species, cannabis sativa, with one big difference being that hemp only contains trace amounts of THC.
EnviroTech, whose products have target markets ranging from the oil and gas space to the wellness industry, says the plan is to work with veterinarians at trade shows and initiate marketing efforts to educate consumers on safe and natural methods to care for their pets.
The news is having a positive effect on ETII stock, which is up 2 cents, or 2.7%, at 77 cents with three hours left in the trading day.
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