The global cannabis oil is seeing a wealth of demand, creating opportunity for Pure Extracts Technologies Corp. (CSE:PULL)(OTC:PRXTF), Canopy Growth Corp. (NASDAQ:CGC)(TSX:WEED), cbdMD Inc. (NYSE:YCBD), Curaleaf Holdings (CSE:CURA)(OTC:CURLF), and Cronos Group Inc. (NASDAQ:CRON).
Better, over the next 10 years, the market is expected to grow from $5.4 billion in 2019 to more than $41 billion by 2030 at a CAGR of 20%. All thanks to the increased usage of such oils in skin treatment, according to analysts at Insight Slice. “A considerable part of the population is suffering from acne problems. CBD oil is used to treat acne using its anti-inflammatory properties and minimizing sebum production. CBD oil controls the overproduction of sebum reducing the chances of skin infections and acne. The neuroprotective properties of CBD oil aid doctors to treat patients with neurological disorders such as multiple sclerosis and epilepsy.”
In addition, demand is increasing as folks use it to deal with pain, anxiety, depression, cancer, neural diseases, for example.
Global Demand is Creating Sizable Growth
Pure Extracts Technologies Corp.(CSE: PULL)(OTC: PRXTF) just announced that it has sold its first batch of cannabis oil extracts to a German pharmaceutical company. Pure Extracts purchased Canadian grown, EU-GMP certified, dry cannabis flower and extracted it into 65% pure THC full spectrum oil (FSO) and into 85% pure THC distillate. These extracts will be furthered processed in Germany into an ultra-pure form of THC for medicinal purposes.
This initial sale will pave the way for longer term supply agreements into Germany, Europe’s most important market and the Company plans to continue seeking export opportunities for its products in other European countries wherever they can be legally sold.
Pure Extracts CEO, Ben Nikolaevsky, remarked, “It is gratifying to have had our concentrates selected by a German pharmaceutical company for use in their medical products. We are excited about the entire European market opportunity for our extracts.”
Canopy Growth Corp. recently launched its CBD-infused Quatreau sparkling water line in the United States. According to Reuters, “While 36 U.S. states and four other territories have approved cannabis for medical use, 11 more have passed laws allowing the use of CBD extract, usually in oil form, with minimal or no tetrahydrocannabinol (THC), according to the National Conference of State Legislatures.”
cbdMD Inc. just recently entered the global beauty and skincare market with the brand’s launch of “cbdMD Botanicals”. “We believe that cbdMD Botanicals will be well-received in the growing multi-billion dollar global beauty and skincare market,” said Martin Sumichrast, Chairman and co-CEO of cbdMD, Inc.
Curaleaf Holdings, Inc. just announced that it has signed a definitive agreement to acquire EMMAC Life Sciences Limited, the largest vertically integrated independent cannabis company in Europe for base consideration of approximately US$286 million to be paid 85% in Curaleaf subordinate voting shares and 15% in cash. Contingent consideration of up to US$57 million will be paid in Curaleaf subordinate voting shares and cash in the same ratio based upon the successful achievement of performance milestones. The proposed transaction provides Curaleaf with a developed platform for entry into the European cannabis market.
Cronos Group Inc. just announced fourth quarter and full-year 2020 results.
“Our fourth quarter 2020 results are the summation of the hard work and perseverance the Company has put into this past year despite the challenges of 2020. As we look to 2021, I’m incredibly excited about the teams we have supporting our brands and the breakthrough research and development, innovation and exciting marketing campaigns Cronos Group plans to execute on. We are poised to build upon the growth we experienced in 2020 as we continue to push cannabinoid innovation and differentiated product offerings under our portfolio of brands,” said Kurt Schmidt, President and CEO of Cronos Group.
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