PALM BEACH, Florida, Feb. 12, 2020 /PRNewswire/ — The global CBD size is projected to continue its seemingly ever accelerating growth and is expected to reach USD 23.6 billion, expanding at a CAGR of 22.2%, according to a new study by Grand View Research, Inc. Increasing adoption of cannabidiol (CBD) infused products in various industries such as pharmaceuticals, personal care and cosmetics, and nutraceuticals along with its medical applications is expected to drive the market over the forecast period. Availability of marijuana-derived CBD products in dispensaries as well as government-approved pharmacies and stores and high efficacy of marijuana-derived CBD compared to hemp-derived CBD are some of the pivotal factors for the growth of the segment according to Grand View. Ease of availability of a wide range of CBD based products to the consumers is one of the key factors driving the growth of this segment. Furthermore, increasing adoption of cannabidiol infused pharmaceuticals for various conditions such as chronic pain, epilepsy, autism, and anxiety is anticipated to support the growth of this segment over the forecast period. Active Companies from around the market with current developments this week include: Puration Inc. (OTCPK: PURA), Kona Gold Solutions, Inc. (OTCPK: KGKG), Canopy Growth Corporation (NYSE: CGC) (TSX: WEED), PotNetwork Holdings, Inc. (OTCPK:POTN), Aphria Inc. (NYSE: APHA) (TSX: APHA).
The rising Awareness of the health benefits of CBD infused products is expected to grow the market for years to come, according to several industry reports. CBD infused products offer wide-ranging health benefits with few side effects and low risk of addiction. Recently, CBD drinks are increasing in both popularity and availability as cannabis products and marijuana has become legalized in states across the country. CBD to consumable products may make it easier for consumers to incorporate it into their lifestyles and gain these benefits. Currently, cannabis-based concentrates, extracts, and edibles are becoming highly popular among consumers. It is expected that U.S. consumer sales of CBD will reach around $1.8 billion U.S. dollars by 2022. However, regulation and compliance on the use of CBD in the food and beverage industry have the potential to hampers the growth of the market. The market is expected to exhibit significant growth in the forecast period due to rising adoption of natural products over pharmaceutical products is an opportunity for this market.
Puration, Inc. (OTCPK:PURA) BREAKING NEWS: PURA Makes Bid For Hemp4mula CBD Confections Backed By $5 Million Investment – Puration today announced making a formal proposal to Kali-Extracts (KALY) to acquire KALY’s Hemp4mula CBD Infused Confections operation. On Monday, earlier this week, PURA announced closing on a $5 million investment to fund the prospective acquisition of cannabis infused beverage, edible and topical operations. The $5 million investment is structured as a debt facility whereby funds can be drawn as needed to fund acquisitions. The drawn funds would be secured by the acquired asset and the debt can be repaid in stock at $0.10 per share. Hemp4mula is the first target acquisition for PURA in an anticipated series of acquisitions.
Hemp4mula currently includes two products, Hemp4mula Gummies and Hemp4mula Gum each infused with 10mg of CBD extracted from hemp. Read this and more news for PURA at: https://www.financialnewsmedia.com/news-pura/
In the CBD/Cannabis industry developments and happenings in the market include:
Aphria Inc. (NYSE: APHA) (TSX: APHA) recently announced that it closed its previously announced strategic investment from an institutional investor for aggregate gross proceeds to the Company of C$100,000,001.
Pursuant to the Offering, the Significant Investor has agreed to purchase 14,044,944 units of the Company at a price of C$7.12 per unit. Each unit is comprised of one common share of Aphria and one-half of one common share purchase warrant of Aphria. Each warrant will entitle the Significant Investor to acquire one common share at a price of $9.26 for a period of 24 months from the closing date of the Offering. As previously disclosed, the Company intends to use the net proceeds from the Offering to finance international expansion, working capital and general corporate purposes.
PotNetwork Holdings, Inc. (OTCPK:POTN) announced this week its estimated total revenues for calendar 2019, which were recorded as more than $15 Million. Since the Company’s revenue results essentially represent those of Diamond CBD, its subsidiary, this means that since acquiring Diamond CBD in 2017, the Company has achieved aggregate gross revenues exceeding an amazing $55 Million from Diamond CBD products (2017, 2018 and 2019).
Kevin Hagen, President and CEO, stated, “Surpassing a $50 Million revenue milestone in just 3 years represents a significant achievement and attests to the strength of the Company’s brands and high levels of consumer preference for its products.”
Canopy Growth Corporation (NYSE: CGC) (TSX: WEED) leases former Concession 5 Vineyard property to Niagara College – Thanks to a new agreement, Niagara College’s Teaching Winery will take over operations at a Niagara-on-the-Lake vineyard property owned by Canopy Growth, sowing the seeds for an environmentally sustainable site and new learning opportunities for the College’s wine students.
Canopy Growth announced today that the Concession 5 Vineyard, located next to its Tweed Farms greenhouses in Niagara-on-the-Lake , will be leased to Niagara College, to be operated by the NC Learning Enterprise Corporation (NCLEC). The College – which is home to the first and only commercial Teaching Winery in Canada , as well the first Commercial Cannabis Production program in the country – is committed to maintaining the vineyard according to environmentally and socially sustainable.
Kona Gold Solutions, Inc. (OTCPK: KGKG), a hemp and CBD lifestyle brand focused on product development in the functional beverage sector, announced last month the Company has scheduled its second meeting with one of the largest supermarket chains in the Southeast, consisting of 550 locations over its portfolio of supermarkets. The Company will also be meeting with a Florida based, fourth generation run, food distributor as well, who covers the Southeast United States.
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