The CBD infused product market could balloon to $165.7 billion, according to Meticulous Research at a CAGR of 48.1%. That’s already creating sizable opportunity for companies such as Pure Extracts Technologies Corp. (CSE:PULL)(OTC:PRXTF)(XFRA:A2QJAJ), Canopy Growth Corporation (NASDAQ:CGC)(TSX:WEED), Tilray Inc. (NASDAQ:TLRY), Charlotte’s Web Holdings Inc. (TSX:CWEB)(OTC:CWBHF), and cbdMD Inc. (NYSE:YCBD).
“CBD-infused products are becoming increasingly popular. The therapeutic properties of CBD-infused products are being tested and confirmed by scientists and doctors around the world. CBD-infused products are non-intoxicating and used to treat several medical conditions, including epilepsy, psychosis, and anxiety disorders,” they note. “As researchers understand more about the potential benefits, more manufacturers are infusing their products with CBD.”
Helping, more states are legalizing the use of cannabis, including New York. Congress may push ahead with reform. In addition, 91% of Americans now say cannabis should be legal, according to Pew Research. In fact, Pew says, “As more states, including Virginia and New York, continue to legalize marijuana, an overwhelming share of U.S. adults (91%) say either that marijuana should be legal for medical and recreational use (60%) or that it should be legal for medical use only (31%). Fewer than one-in-ten (8%) say marijuana should not be legal for use by adults.”
Its Already Driving Big Interest in Companies Like Pure Extracts Technologies
Pure Extracts Technologies Corp.(CSE:PULL)(OTC:PRXTF)(XFRA:A2QJAJ) just announced that its wholly owned subsidiary, Pure Extracts Manufacturing Corp., has signed a tolling agreement for the extraction of 80-85% pure CBD distillate from an initial 500 kgs. of hemp biomass. The biomass was sourced from one of Pure Extracts’ preferred suppliers and has a CBD potency of just over 10%. This biomass, with its specific particulate mill size, runs very efficiently on the Company’s Vitalis R200 sub/super-critical CO2 extraction system.
The high level of purity in the extracted CBD distillate makes it an ideal ingredient for vape cartridges, topicals, beverages and edible gummies and chocolates.
Pure Extracts CEO, Ben Nikolaevsky, remarked, “We are pleased to have entered into this tolling agreement and to have taken delivery of the first 500 kg of milled hemp biomass. We are very familiar with this particular biomass having used it before in the manufacturing of our in-house, branded products, so we know it extracts very well.”
Other related developments from around the markets include:
Canopy Growth Corporation, a world-leading diversified cannabis, CBD and vaporization device company, announced Southern Glazer’s Wine & Spirits, the world’s pre-eminent distributor of beverage alcohol, as the distribution partner for its U.S. portfolio of CBD-infused beverages. This partnership announcement follows the recent launch of Quatreau – Canopy’s first line of CBD-infused beverages sold in the U.S. market.
Tilray Inc., a global pioneer in cannabis research, cultivation, production, and distribution, today announced that the Tilray board of directors approved an amendment to the Company’s bylaws to reduce the quorum requirement for shareholder meetings from shareholders representing a majority of the voting power of the outstanding shares entitled to vote to one-third of the voting power of the outstanding shares entitled to vote. In connection with the proposed business combination between Aphria Inc. and Tilray, Aphria and Tilray have each agreed to waive the mutual condition precedent to the consummation of the Transaction that Tilray amend its amended and restated certificate of incorporation in the event that the Charter Amendment Proposal is not approved by the Tilray stockholders at the Tilray special meeting scheduled for April 30 at 11:00 a.m. Eastern time.
Charlotte’s Web Holdings Inc., a certified B Corporation and the market leader in hemp CBD extract products, announced that three of its proprietary hemp cultivars were approved for registration on Health Canada's List of Approved Cultivars for outdoor cultivation in Canada. These are among the first hemp CBD cultivars on the LOAC that are early flowering and early maturing for outdoor cultivation and harvesting within the shorter Canadian growing season. The approved cultivars include the Company's original "CW1AS1" U.S. patented genetics, clearing the way for Charlotte's Web to cultivate its leading CBD wellness products in Canada in 2021. Currently, Charlotte's Web Products are not easily available in Canada because laws do not allow for bulk importing of USA grown hemp CBD or related products into Canada.
cbdMD Inc., one of the leading and most highly trusted and recognized cannabidiol (CBD) brands, announced that its Spring 2021 product launch will include a line extension of the cbdMD award-winning and best-selling Gummies, as well as the first ever, and highly anticipated, cbdMD Drink Mixes. “cbdMD has always been at the forefront of product innovation in the growing CBD industry. Our customers know that when they buy a cbdMD branded product, it is made with the highest possible industry standards and with our patented pending formulated blends. We are excited to get these new products out to our customers and onto the shelves of our retail partners,” said Martin A. Sumichrast, Chairman and co-CEO.
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for Pure Extracts Technologies Corp. by a third party. We own ZERO shares of Pure Extracts Technologies Corp. Please click here for full disclaimer.
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