Northsight Capital, Inc (OTCQB:NCAP) made an impressive move Thursday, obtaining an agreement to be exclusive distributor of CBD products for the seniors’ market.
The agreement in principal is aimed to establishing the first CBD product line specifically for the seniors’ market, one of the fastest growing in the industry.
A new estimate from cannabis industry analysts points out that the hemp-CBD market alone could hit $22 billion by 2022, with senior citizens taking the lead in purchasing the product. As of early this year, in Colorado, people 50 and older now made up more than 36% of patients on the medical marijuana registry.
Other researchers report that 10,000 people turn 65 each day, with more and more of them trying CBD for their health and well-being.
Northsight shares hiked one-10th of a cent, or 10%, to 1.1 cents in Thursday’s latest trading hour, on volume of 2.4 million shares.
