CBD products have gone mainstream. In fact, as CBD products make their way onto the shelves of Vitamin Shoppe, Kroger, CVS and Walgreens, analysts believe the trend could be a significant catalyst. Along the way consumer spending on cannabis-based food and drink products could reach $4.1 billion from just $1 billion in 2017, according to analysts at Arcview Market Research. Better, we’re beginning to see signs of consolidation in this industry. For example, Tilray Inc. just acquired Smith & Sinclair to create a line of edibles and will distribute product throughout North America. That’s opening a wide range of opportunity for companies including Naturally Splendid Enterprises Ltd. (TSXV:NSP)(OTCQB:NSPDF), Curaleaf Holdings Inc. (CN:CURA) (OTC:CURLF), Green Growth Brands Inc. (CSE:GGB) (OTC:GGBXF), Charlotte’s Web Holdings Inc. (CN:CWEB)(OTC:CWBHF), and Tilray Inc. (NASDAQ:TLRY).
Naturally Splendid Enterprises Ltd. (TSXV:NSP)(OTCQB:NSPDF) BREAKING NEWS: Naturally Splendid Enterprises Ltd. just announced that a Letter of Intent with Prairie Pure has now been formalized into a Definitive Agreement. Under the terms of the Agreement, a CBD (cannabidiol) Extraction System recently received from Curran Technologies Inc. has been leased to Prairie Pure in a 1-year lease agreement renewable on a yearly basis. Under the terms of the Agreement, Prairie Pure, a Canadian entity, will lease the Extraction System from Naturally Splendid and operate the equipment through Oregon Plant Processing LLC and Plant Relief, a 100% owned division of Oregon Plant Processing.
The CBD extraction system is manufactured in Canada by Curran, a wholly owned subsidiary of Wahupta. Curran’s state-of-the-art R6 Pro extraction system is capable of processing up to 250 kilograms of biomass per day. It is estimated that should the biomass contain a 7% level of CBD this single system would be capable of producing up to 17.5 kgs. of full-spectrum hemp extract with CBD per day. The full-spectrum hemp extract and CBD market has had somewhat volatile prices, with the wholesale cost of full-spectrum hemp extract containing CBD ranging from $8,000 CDN per kg up to $12,000 CDN per kg. Naturally Splendid President Mr. Craig Goodwin states, “We are pleased to be capturing value from the investment we have made in CBD extraction. Our goal is to monetize this investment in the most expeditious and efficient way to enhance shareholder value while the process to secure the required CBD processing licenses in Canada continues. During the process we stand to gain additional experience, expertise and business contacts in the fast-developing CBD extraction market.”
Other cannabis-related developments from around the markets include:
Curaleaf Holdings Inc. (CN:CURA)(OTC:CURLF) just announced that it will report its financial and operating results for the second quarter ended June 30, 2019 after market close on August 29, 2019. Management will host a conference call and audio webcast that evening at 5:00 p.m. EST consisting of prepared remarks followed by a question and answer session related to the Company's operational and financial highlights.
Green Growth Brands Inc. (CSE:GGB)(OTC:GGBXF) just announced that it expects to open its 100th Seventh Sense Botanical Therapy mall-based shop on Thursday, August 8, 2019. The first Seventh Sense shop opened in early February. “This is a huge milestone for Green Growth Brands and Seventh Sense,” said Peter Horvath, CEO of Green Growth Brands. “We believe we have created the largest and most valuable network of brick and mortar CBD shops in the country.” Seventh Sense shops retail high-quality botanical therapy CBD-infused personal care and beauty products at affordable prices. The product offering includes over 100 SKUs across bath, body, face, therapeutic, and sleep categories.
Charlotte’s Web Holdings Inc. (CN:CWEB)(OTC:CWBHF) just unveiled its newest CBD product line - hemp extract-infused CBD Gummies – made with whole-plant extract from its prized hemp genetics and featuring synergistic functional ingredients to support specific health related functions including everyday stress, sleep, and recovery from exercise or active lifestyles. Available in a variety of flavors, gummies are the latest addition to the Company's expanding line of CBD hemp-extract products. "Gummies are a very popular edible format as a result of convenience and measurable consumption," stated Kelsey Morrison, Associate Director of Product Development at Charlotte's Web. "This new delivery format from Charlotte's Web provides an easy bite-sized way to ingest full-spectrum hemp-extract CBD."
Tilray Inc. (NASDAQ:TLRY) just announced that its wholly-owned subsidiary Tilray Portugal Unipessoal Lda. has signed a Definitive Agreement with Esporão, adding 20 hectares of outdoor cultivation space in Alentejo, Portugal, in addition to its existing 5 hectares of indoor and outdoor cultivation and 6,500 square meters of manufacturing, processing and research space at its European Union (EU) Campus in Cantanhede, Portugal. “We’re proud to be expanding our capacity to produce high-quality medical cannabis products in Europe using innovative outdoor growing methods.” says Sascha Mielcarek, Tilray’s Managing Director, Europe. “We look forward to supplying patients in need in existing and new markets with Tilray’s medical cannabis products, proudly produced in Europe.”
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