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Medical Hemp Use Grows in Credibility With Recent Legislative Breakthroughs
New York, March 25, 2019 /PRNewswire/ -- The voraciously expanding cannabidiol industry has become one of the fastest emerging global phenomenons. Cannabidiol, or more commonly referred to as CBD, is a relaxation stimulant derived from hemp, which is a family of the cannabis plant. Not to be confused with its counterpart, THC, CBD does not provide any psychoactive effects. Due to this lack of psychoactive effects, the U.S. Drug Enforcement Administration had delisted CBD as a Schedule 1 drug back in September of 2018, making CBD the first form of cannabis ever to be struck from the list. Several months before the DEA's decision, the U.S. Food and Drug Administration had approved Epidiolex, which is a cannabis-based drug to treat epilepsy in young children. The FDA's decision to approve Epidiolex added credibility to CBD for its use the medical setting. Furthermore, CBD is now sold in pharmacies and has been integrated into various products such as edibles, beverages, creams, tinctures, and oils. The medical and health sector for CBD is by far the biggest driver, however, there are consumers who use CBD solely for recreational purposes: to simply relax. In the future, both the medical and recreational sectors of CBD will further develop and expand the market. According to data compiled by Brightfield Group, the U.S. hemp CBD market is expected to reach USD 22 Billion by 2022, outpacing the rest of the cannabis market combined. Chineseinvestors.com Inc. (OTC: CIIX), Village Farms International, Inc. (NASDAQ: VFF) (TSX: VFF), CannTrust Holdings Inc. (NYSE: CTST) (TSX: TRST), HEXO Corp. (NYSE: HEXO) (TSX: HEXO), Harvest Health & Recreation Inc. (OTC: HRVSF) (CSE: HARV)
In late 2018, U.S. President Donald Trump signed the U.S. Farm Bill, which legalized the cultivation of hemp for specific purposes such as education and research. However, many CBD producers have grown hemp to sell commercially. Multiple states' legislative bodies are also considering CBD decriminalization, meaning consumers would be able to publicly enjoy certain products in moderate amounts, and as long as it contains less than 0.3% THC. Recent movements and trends within the CBD industry have also led to the proliferation of these products, further expanding the marketplace. "I have never seen anything like the explosion that we're seeing right now in CBD, even with the bizarre legal gray area where CBD now operates. A few years ago almost no one knew what hemp-derived CBD was, it was sold by mostly small brands of tinctures online and through head shops. All of a sudden, CBD is everywhere - it is both a trendy, new ingredient in drinks, face creams and pet treats and an answer to the prayers of so many people suffering from medical conditions ranging from epilepsy to anxiety and chronic pain," said Bethany Gomez, Managing Director at Brightfield Group, "There are sure to be some problematic regulations and bumps along the way. But there is too much momentum, too much demand and too much potential for this industry not to explode."
Chineseinvestors.com Inc. (OTCQB: CIIX) just announced breaking news this morning that, "it will add a high-end, luxury brand of full spectrum CBD oil to its product offerings.
ChineseHempOil.com, Inc.'s new product was launched on March 9, 2019, at San Francisco's KTSF-hosted Financial Carnival Event. The launch has proven successful, with sales exceeding $10,000 on the first day. Based on the initial reception and the price point for this top of the line CBD oil, the Company expects that this new addition should have a positive impact on revenues and should increase margins.
"Since the beginning of 2019, ChineseInvestors.com, Inc., and its wholly owned subsidiary ChineseHempOil.com, Inc., have been on the lookout for innovative CBD products for the global Chinese market," stated Warren Wang, Chief Executive Officer of ChineseInvestors.com. "This 100% organic product, free of pesticides, herbicides, and chemical fertilizers, will provide our most discerning, health conscious customers with one of the highest quality CBD oils available."
Products are available for purchase on the Company's new platform, www.365cwc.com, which caters to both Chinese and English-speakers and offers a wide selection of wellness products, including:
- OPT Hemp: Products include organic industrial hemp-derived CBD oil, CBD scrub and cream, with additional hemp-infused cosmetics and other industrial hemp-derived CBD products in the works.
- OPT2Mist: A ground-breaking nutritional spray product line including a wide array of daily vitamin sprays, and full-spectrum CBD-infused sprays.
- Our latest organic full spectrum CBD oil: A high-grade, organic, full spectrum hemp oil sourced from Colorado and free of pesticides, herbicides, and chemical fertilizers.
Dedicated to spreading awareness about the benefits of CBD, ChineseHempOil.com has been operating in the United States since 2017. Equipped with its strong reputation and its popular product lines, ChineseHempOil.com is constantly developing new and innovative ways to promote wellness in the Chinese community.
For more information, please visit www.365cwc.com.
About ChineseInvestors.com - Founded in 1999, ChineseInvestors.com endeavors to be an innovative company providing: (a) real-time market commentary, analysis, and educational related services in Chinese language character sets (traditional and simplified); (b) advertising and public relation related support services; and (c) retail, online and direct sales of hemp-based products and other health related products. For more information, visit ChineseInvestors.com.
Village Farms International, Inc. (NASDAQ: VFF) (TSX: VFF) is one of the largest and longest-operating vertically integrated greenhouse growers in North America and the only publicly traded greenhouse produce company in Canada. Village Farms International, Inc. recently announced that it had entered into an agreement with Nature Crisp LLC to form a joint venture for the outdoor cultivation of high-cannabidiol (CBD) hemp and CBD extraction in multiple states throughout the United States. The joint venture, Village Fields Hemp, will be 65% owned by Village Farms and 35% owned by Nature Crisp. Nature Crisp is a private, Georgia-based farming operation and part of the Jennings agricultural group of companies, which grows a diverse range of food and other crops, including hemp, on more than 6,000 acres in the U.S. and Canada. "Jennings Group is a pioneer in hemp cultivation and this joint venture establishes a new powerhouse in hemp cultivation that significantly advances Village Farms' vertically integrated CBD strategy," said Michael DeGiglio, Chief Executive Officer, Village Farms. "As 10th generation farmers since Gideon (Zanini) Jennings immigrated to South Carolina in 1736, Jennings Group brings deep knowledge in large-scale field agriculture across a vast array of crops, with a proven track record of genetic optimization and innovation. Over the past several years, they have rapidly become a leading authority on hemp cultivation, renowned for their understanding of the plant and their success applying their cultural and genetic expertise to meaningfully improve CBD content and yield. Moreover, the Jennings Group team brings extensive relationships with the farming community across the U.S., as well as with geneticists, academics and researchers, that will be invaluable to the success of this new business."
CannTrust Holdings Inc. (NYSE: CTST) (TSX: TRST) - a federally regulated licensed producer of medical and recreational cannabis - is leading the Canadian and global market in producing standardized cannabis products. CannTrust Holdings Inc. recently announced that it had shipped its standardized CBD oil capsules to Australia's Gold Coast University Hospital. The capsules will be used in a study to determine the efficacy of CannTrust CBD oil capsules in slowing the disease progression in patients with Amyotrophic Lateral Sclerosis (ALS) and Motor Neuron Disease (MND), which was first announced by the Company in July 2018. The capsules will be imported, stored and distributed by PharmaCann Pty Ltd. The shipment will include all investigational products that are required for the study. "With our medicinal cannabis experience and over 50,000 patients enrolled over the past five years, we continue to see the medical potential of the cannabis plant. We are committed to being international leaders in the generation of scientific evidence proving the medical benefits in treating a variety of indications. With hundreds of thousands of people living with ALS in Canada and globally, we continue to focus on improving peoples' lives around the world," says Peter Aceto, Chief Executive Officer of CannTrust. "We also thank PharmaCann for its expertise and assistance in importing our products to Australia, to make this study possible."
HEXO Corp. (NYSE: HEXO) (TSX: HEXO) creates and distributes innovative, easy-to-use and easy-to-understand products to serve the Canadian cannabis market. HEXO Corp. and Molson Coors Canada (MCC), the Canadian business unit of Molson Coors Brewing Company (NYSE: TAP) (TSX: TPX) recently announced that they have closed the transaction announced on August 1, 2018, to form a joint venture to pursue opportunities to develop non-alcoholic, cannabis-infused beverages for the Canadian market following legalization. The joint venture, Truss, will be led by former Molson Coors executive, Brett Vye, in the role of Chief Executive Officer. Vye will report to the Truss board of directors consisting of three members appointed by MCC and two members appointed by HEXO. "With the backing of two partners with deep Canadian roots, proven success, and market-leading experience in the respective beverage and cannabis industries in Canada, Truss will hit the ground running," said Brett Vye, Chief Executive Officer at Truss. "When consumable cannabis is legalized in Canada, Truss will be ready to make its mark as a responsible leader in providing high-quality beverages for the Canadian consumer. Why "Truss"? We are joining together the extensive experience and excellent practices of each partner to build a powerful foundation for the future."
Harvest Health & Recreation Inc. (OTCQX: HRVSF) (CSE: HARV) is one of the first consistently profitable, vertically integrated cannabis companies with one of the largest footprints in the U.S. Harvest's complete vertical solution includes industry-leading cultivation, manufacturing, and retail facilities, construction, real estate, technology, operational, and brand building expertise — leveraging in-house legal, HR and marketing teams, along with proven experts in writing and winning state-based applications. Harvest Health & Recreation Inc. recently announced the opening of its 9th medical marijuana dispensary in the third largest U.S. cannabis market: Arizona. The new Harvest retail, located at 13631 North 59th, Glendale, is now serving patients. Since 2013, Harvest's Arizona dispensaries have won numerous awards for the best medical marijuana dispensary, as well as for its proprietary medicinal cannabis products and strains. The new Glendale location will serve patients and caregivers with valid Arizona medical marijuana cards, offering the highest quality state-approved and lab-tested products, including vape products, concentrates, topicals, tinctures, flower, edibles such as infused food or beverages, patches, CBD and more. Harvest's trained staff will be onsite to answer patient questions about the various cannabis product treatment options. As one of the largest vertically integrated, multi-state operators in the U.S., Harvest currently holds licenses for 86 dispensaries, 23 cultivation facilities, and 22 processing facilities across the country. "Arizona is one of the largest medical marijuana markets in the U.S., and we are thrilled to continue our momentum building and operating award-winning dispensaries right here at home," said Harvest Founder and CEO Steve White. "As the largest operator in our home state, we hold ourselves to the highest patient, product, staff and operating standards. We look forward to continuing working with legislators and law enforcement to help lead sensible policies that protect patients' rights, brings access to life-changing medicine and benefits communities as Arizona's medical marijuana program matures into one of the premiere medical markets in the world."
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