With the passage of the U.S. Farm Bill, hemp will see a significant catalyst for growth.
In fact, it’ll allow for hemp cultivation and the transfer of hemp products across state lines for commercial and other purposes, notes Forbes. It may just create a $39.4 billion market, says Markets and Markets, a marked improvement from a $10.3 billion valuation in 2018.
In addition, according to Research and Markets, the global hemp oil market accounted for $81 million in 2017 and is expected to reach $ 1.2 billion by 2026, expanding at a compound annual growth rate of 35.8% from 2018 to 2026.
Some of the companies that are already benefiting from the story interest include The Yield Growth Corporation (CSE:BOSS) (OTCQB:BOSQF), Charlotte’s Web Holdings Inc. (CSE:CWEB) (OTC:CWBHF), and The Supreme Cannabis Company Inc. (TSXV:FIRE) (OTC:SPRWF).
The Yield Growth Corporation’s (BOSS) (BOSQF) for example, just announced that subsidiary Urban Juve has registered for sale with Health Canada 3 Lip Glosses with Tint named “LOVE”, “PLEASURE”, and “SERENITY.”
Each contains a unique blend of camelia, jojoba, avocado, castor and coconut oils designed to moisturize the lips to make them look full and supple. Cannabis sativa hemp seed oil, and hemp root oil extracted using Urban Juve’s proprietary patent pending technology, are included as ingredients intended to deeply nourish and refresh the skin.
"We are thrilled to register new products for the Urban Juve brand. This brand has been very well received in discussions with major retail chains in Canada and the United States," says Urban Juve President Sandi Lesseur, "we are now designing packaging for our new products that will be compliant with Quebec, Canada and U.S. FDA labelling regulations so we can sell our products through international retail chains."
For More Information on The Yield Growth Corporation, Click Here.
Charlotte’s Web Holdings Inc. (CWEB) (CWBHF) is currently listed on the Canadian Securities Exchange, and could pursue a listing on a major U.S. exchange now that the U.S. Farm Bill has passed, as noted by Bloomberg.
In addition, the company just reported that its 2018 harvested hemp results produced 10 times growth in harvested hemp compared to 2017.
"Charlotte’s Web is one of only a few hemp CBD producers capable of supplying large volumes of high-quality hemp extract from its own supply chain that can meet significantly increasing market demand. As the category and brand leader, our goal is to increase our market share and with this bountiful harvest we are able to satisfy our customer demands for 2019 and beyond," noted Hess Moallem, President and CEO.
For More Information on Charlotte’s Web Holdings Inc., Click Here.
The Supreme Cannabis Company Inc. (FIRE) (SPRWF) recently listed on the Toronto Stock Exchange (TSX) on February 4, 2019. Its common shares and 6% unsecured convertible debentures due 2021 will delist from the TSX Venture and will commence trading on the TSX under the symbols, “FIRE” and “FIRE.DB.”
Also, in its most recent quarter, the company reported revenue of $7.72 million, a 359% increase year over year, and a 50% increase quarter over quarter. It also posted a net loss of $1.55 million, as compared to a net loss of $2.03 million year over year. It’s also a marked improvement from a loss of $5.29 million in the last quarter.
For More Information on The Supreme Cannabis Company Inc., Click Here.
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