The CBD story is exploding. At current pace, The Brightfield Group says CBD sales could explode to $23.7 billion by 2023. In fact, “The bulk of this growth is coming from large retailers like CVS, Walgreens, and Kroger entering the market and providing that availability to consumers,” says Brightfield Managing Director, Bethany Gomez. Already, major retailers are just beginning to embrace CBD thanks to sizable consumer demand. To date, Neiman Marcus, Sephora, Vitamin Shoppe, Kroger, Barney’s DSW, CVS, American Eagle, and Walgreen’s have all jumped at the opportunity. Even better, support for cannabis legalization is exploding. A Gallup survey found that 66% of Americans are in favor of legalization. That’s up from just 60% in 2016. That’s opening a wide range of opportunity for companies including The Yield Growth Corp. (CSE:BOSS) (OTC:BOSQF), Canopy Growth Corporation (TO:WEED) (NYSE:CGC), Green Growth Brands Inc. (CSE:GGB) (OTC:GGBXF), Charlotte’s Web Holdings Inc. (CN:CWEB)(OTC:CWBHF), and OrganiGram Holdings Inc. (TSX:OGI)(NASDAQ:OGI).
The Yield Growth Corp. (CSE:BOSS)(OTCQB:BOSQF) BREAKING NEWS: The Yield Growth Corp. just announced it has entered into an agreement with Peak Performance Products Inc., who will act as the wholesale distributor for Yield’s Urban Juve hemp products within the health retail channel across Canada. Peak Performance has more than 20 years’ experience representing global health and wellness brands in the Canadian marketplace. They provide the highest quality natural health products to reputable retailers across Canada, with access to a network of more than 3,500 brick-and-mortar and online retailers, in multiple channels, nationwide. The agreement grants Peak Performance rights to distribute and sell Urban Juve products at wholesale to health retailers across Canada. Peak Performance will actively promote the sale and distribution of the Urban Juve product line across Canada. They will maintain a complete line of products on hand to ensure prompt service of all retailers. The agreement was signed September 9, 2019 and has a two-year term.
In addition to ongoing marketing efforts, Peak Performance also will feature Urban Juve products at their booth at the Canadian Health Food Association trade show in Toronto on September 14th and 15th. This event is Canada's largest trade show dedicated to natural health, specialty and organic products, and the Peak Performance booth will showcase Urban Juve samples, demonstrations and product knowledge to local and international attendees. “Peak Performance is a top distributor in Canada and has successfully worked with the health and wellness industry for more than 20 years,” says Sandi Lesueur, President of Urban Juve. “They’ve chosen to distribute Urban Juve products because of their uniqueness: our Ayurveda-inspired, hemp-infused products are unlike anything on the market. Our booth is always the busiest when participating at trade-shows. I expect the same at this weekend’s CHFA event.”
Other cannabis-related developments from around the markets include:
Canopy Growth Corporation (TO:WEED)(NYSE:CGC) just announced that it has received a license from Health Canada for its KeyLeaf Life Sciences facility in Saskatoon, Saskatchewan. Including the Smiths Falls site and the recently licensed BC Tweed extraction site, Canopy Growth now operates three significant extraction assets to support the throughput required for large scale value-add product development. Canopy Growth recently retrofitted the now fully licensed KeyLeaf facility in Saskatchewan, a company with over 50 years of experience in the extraction industry. This facility is expected to be online in the Fall of 2019 and has the capacity to extract up to 5,000 kilograms of hemp or cannabis biomass per day. The application for the license was submitted under KeyLeaf's previous name, POS Management Corp. and will be updated in due course. The newly licensed extraction platform is located in close proximity to Canopy Growth’s large-scale outdoor hemp and cannabis grow operations. The Company looks forward to the additional capacity increasing production efficiency, augmenting output volume, and ultimately reducing operational costs for value-add products set to be rolled out in the Canadian recreational and medical markets at the end of calendar year 2019. “With this milestone, we are executing against the vision of making strategic investments today in order to deliver results over the long term,” said Mark Zekulin, CEO, Canopy Growth. “This license will ensure we have the supply of extraction inputs for the medical, CBD, and recreational markets, especially the next generation of value-add, high margin cannabis products here in Canada.”
Green Growth Brands Inc. (CSE:GGB)(OTC:GGBXF) just announced that it will open 100th Seventh Sense Botanical Therapy mall-based shop. The first Seventh Sense shop opened in early February. “This is a huge milestone for Green Growth Brands and Seventh Sense,” said Peter Horvath, CEO of Green Growth Brands. “We believe we have created the largest and most valuable network of brick and mortar CBD shops in the country.” Seventh Sense shops retail high-quality botanical therapy CBD-infused personal care and beauty products at affordable prices. The product offering includes over 100 SKUs across bath, body, face, therapeutic, and sleep categories.
Charlotte’s Web Holdings Inc. (CN:CWEB)(OTC:CWBHF) just announced that Russell Hammer has joined the Company as Chief Financial Officer, effective tomorrow, August 15, 2019. Mr. Hammer, who has most recently served as an advisor in private equity investments, brings more than 30 years of finance experience in the retail, tourism and technology sectors. With his experience leading multi-billion-dollar multinational companies, he is the latest top-tier executive to join Charlotte's Web as the Company accelerates its growth and evolution into a global consumer packaged goods ("CPG") brand. Mr. Hammer replaces Rich Mohr, who as CFO has overseen the Company's successful transition to a publicly traded company and market leader in hemp CBD products. "Russ's appointment aligns perfectly to support the Company's evolution over the past few years from an early stage organization to a leading public company, into its next phase transitioning to a global CPG company. His breadth of international finance experience across a range of industries, as well as expertise in building operational infrastructure, applying forward-looking analytics, M&A, and accessing capital markets will help us scale the business in a financially stable way," said Deanie Elsner, CEO of Charlotte's Web.
OrganiGram Holdings Inc. (TSXV:OGI)(NASDAQ:OGI) just announced it entered into an advance payment and purchase agreement with 703454 N.B. Inc. (carrying on business as 1812 Hemp) under which the Company will pre-fund hemp purchases to receive access to as much as 60,000 kilograms of dried hemp flower to be harvested in calendar 2019 for extraction into cannabidiol isolate. Organigram is already a party to a purchase agreement entered into in January 2019 with 1812 Hemp, in which Organigram was granted a right of first refusal on 1812 Hemp’s production of certain hemp cultivars. Access to CBD-rich hemp flower is being facilitated through the Payment Agreement as the Company will advance funds to 1812 Hemp for their purchase of specialized large-scale hemp harvesting and processing equipment to maximize crop yields, contribute to increased efficiency and improve preservation of harvested cannabinoids. Purchase conditions for the dried hemp flower continue to be governed by the January Purchase Agreement which secures supply and supports research and development on the genetic improvement of hemp through traditional plant breeding methods.
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