Global CBD sales are only expected to explode. All as consumers around the world wake up to the benefits of CBD, including the treatment of insomnia, stress, anxiety, pain, and even chronic issues. In fact, about 14% of Americans are currently using CBD products, “and the number one reason is pain,” as highlighted by Harvard Health Publishing. In addition, an Arthritis Foundation poll found that 29% of 2,900 surveyed respondents use CBD and that “nearly 80% of respondents were either using it, had used it in the past, or were considering it. Of those using it, most reported improvement in physical function, sleep, and well-being; of note, a minority reported improvement in pain or stiffness.”
That may also explain why there’s such strong consumer demand for products from retailers such as Vitamin Shoppe, Kroger’s, Barney’s, DSW, CVS, American Eagle Outfitters, Sephora, Dick’s Sporting Goods, and even Dollar General. That’s creating big opportunity for companies such as The Yield Growth Corp. (CSE:BOSS)(OTC:BOSQF), Green Growth Brands Inc. (CSE:GGB)(OTC:GGBXF), Charlotte’s Web Holdings Inc. (OTC:CWBHF)(TSX:CWEB), The Supreme Cannabis Company Inc. (TSX:FIRE)(OTC:SPRWF), and Canopy Growth Corporation (TSX:WEED)(NYSE:CGC).
The Yield Growth Corp. (CSE:BOSS)(OTCQB:BOSQF) BREAKING NEWS: The Yield Growth Corp. announced that its subsidiary Urban Juve Provisions Inc. submitted a Natural Health Product (NHP) application with Health Canada for its pain balm. "Pain is the most common reason that people seek medical attention in North America, and it is a tremendous load for our social, economic, and medical systems. Especially in times like these, when access to medical care is limited for most," said Yield Growth CEO Penny White "now, more than ever, individuals are seeking alternative, at home remedies to treat their pain."
Some studies estimate that up to 40% of the population suffers from chronic pain. Arthritis is the most prevalent health condition in Canada, and its most common form is osteoarthritis which is a leading cause of disability worldwide. Other common causes of chronic pain include gout, rheumatoid arthritis, fibromyalgia, lupus and carpal tunnel syndrome which is increasingly affecting youth, from excessive typing and texting.
The Global Topical Pain Relief Market was valued at $7.5 billion in 2017, and is projected to reach $13 billion by 2025 at a CAGR of 7.4% from 2018 to 2025, according to Allied Market Research. Yield Growth currently has 3 topical cannabis products for sale in Oregon through the line Wright & Well, a balm, a gel and a massage oil, and is planning to launch similar products in Canada. "Pain is not just something that the older population faces, excessive stress and anxiety that comes with our modern way of living is leading to chronic pain disorders in younger people as well," added White. "Our pain balms are tools to ease pain, promote relaxation and enable restful sleep."
The health claim under review for Urban Juve's pain balm is: "temporarily relieves back aches and pains of muscles and joints associated with one or more of the following: simple backache, lumbago, strains and sprains (involving muscles, tendons, and/or ligaments), and arthritis."
Many of Yield Growth's products are deeply rooted in Ayurveda, leveraging both ancient wisdom and modern science.
"Our newest pain balm is an elixir of different botanicals blended to support an everyday self-care regime for pain management. Whether for arthritis and fibromyalgia sufferers, for those with muscle and joint pain, or for those simply sore from taking a weekend hike," said Bhavna Solecki, Yield Growth Director of Product Research.
The product uses a synergetic blend of castor, hemp seed, coconut and avocado base oils mixed with the essential oils camphor, cinnamon, cloves, eucalyptus and lavender along with menthol as active ingredients. Menthol crystals act as an anti-irritant and provide a heating/cooling effect by sending a signal to the brain which interprets the feeling as cold, relieving the uncomfortable heat of inflammation.
Cinnamon oil was used as early as 2700 B.C. to soothe inflammation, stiffness, muscle knots, and back pain. Cloves have been used in dentistry for tooth aches for many centuries. Records have also shown Castor oil has been used in Ayurveda since 2000 B.C as a traditional analgesic. Camphor has been used as a remedy in both traditional Chinese and Ayurveda medicine for more than 4,000 years to treat a wide range of illnesses including nervous afflictions.
"Pain is inevitable, but at the same time suffering is optional," added Solecki. "We are passionate about creating natural remedies that leverage modern science and ancient wisdom to help people to live their most healthy and whole lives."
Other related developments from around the markets include:
Green Growth Brands Inc. (CSE:GGB)(OTC:GGBXF) reported its results for the period ended December 28, 2019. Revenues for the period totaled $21.1M. “The results this quarter are a reflection of our ability to create products and experiences that consumers want,” said Peter Horvath, CEO of Green Growth Brands. “We are pleased with the consumer demand signals we saw in the CBD segment during the quarter, and we remain confident in its future potential. However, overhead costs, near-term obligations and constraints on liquidity have posed significant challenges that have hindered us from growing the CBD business in the timeframes we anticipated to its full-potential. “The initiatives we announced today to sell the CBD segment, restructure debt and raise equity financing improves the financial infrastructure we need to scale our MSO segment. We believe focusing our expertise on the MSO segment will yield the highest long-term value for our shareholders and customers.”
Charlotte’s Web Holdings Inc. (OTC:CWBHF)(TSX:CWEB) announced that David Panter has joined the Company as Chief Operating Officer, effective March 30, 2020. Mr. Panter brings over 20 years of broad global supply chain experience at leading cosmetic, agriculture, pharmaceutical, medical device and consumer packaged goods (CPG) companies, including Estée Lauder Company, Luxottica Retail, Campbell Soup Company, and Tyco Healthcare/Covidien. Most recently, at Estée Lauder Company, Mr. Panter was responsible for optimizing the global supply chain including the manufacturing locations and distribution networks in North America, Europe, Asia Pacific and Latin America. Throughout his successful career, he has led manufacturing facilities, quality, distribution and warehouse locations across multiple product categories and has been responsible for transforming operations through continuous improvement, coaching, strategy development and tactical execution.
The Supreme Cannabis Company Inc. (TSX:FIRE)(OTC:SPRWF) announced the completion of its first international cannabis shipment from Canada into Israel. Supreme Cannabis partnered with Breath of Life International Ltd., Israel’s largest and leading producer of medical cannabis and cannabis products, to offer Truverra-branded premium medical cannabis to patients in Israel. “This transaction represents a new international revenue opportunity for Supreme Cannabis and builds Truverra’s global medical brand in one of the most sophisticated medical cannabis markets in the world,” said Colin Moore, Interim President and CEO of Supreme Cannabis. “With the support of BOL Pharma, we navigated both Canada and Israel’s complex regulatory landscapes to achieve compliance with regulatory authorities in both countries, including Health Canada, the Canadian Food Inspection Agency and Israel’s Ministry of Health and Ministry of Agriculture and Rural Development. We benefitted from BOL Pharma’s skilled team, international experience and solidified position as a leading medical cannabis company in Israel. As we pursue capital-light international opportunities, we will continue to look to Jeff Adams, Truverra’s CEO, and his exceptional team to build Truverra’s medical brand globally.”
Canopy Growth Corporation (TSX:WEED)(NYSE:CGC) announced that Ms. Terry Yanofsky and Mr. David Lazzarato have been appointed to the Company’s Board of Directors, effective immediately. It is my pleasure to welcome both Terry and David to the board,” said Judy Schmeling, Chair of the Board of Directors, Canopy Growth. “Their leadership and experience in highly competitive industries will be instrumental as we focus the business and evolve into an execution-driven operating company. I also want to thank outgoing board members, Peter Stringham and John Bell, for their contribution and service to the board during times of rapid expansion and growth.” John Bell is the former Lead Director and Peter Stringham Chaired the Corporate Governance, Compensation and Nominating Committee. Ms. Yanofsky has extensive experience working with big-name retailers and is respected for her strategic leadership and disciplined approach to driving revenue. She most recently served as the Senior Vice-President, General Manager of Sephora Canada. Prior to joining Sephora, Ms. Yanofsky worked at L Brands where she was the country manager for Bath & Body Works Canada. She brings over 30 years of experience working with rapidly growing big-name global retailers.
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