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The Top Reasons Why the CBD Market has Only Started to Boom
PALM BEACH, Florida, Aug. 1, 2019 /PRNewswire/ -- Hemp-derived CBD is quickly becoming a multi-billion-dollar business, with plenty of mainstream support. Already, sales of products containing CBD are expected to grow 700% in 2019 year over year, says the Brightfield Group . "The CBD market has been growing rapidly, but we will see unprecedented growth in 2019," Brightfield Managing Director, Bethany Gomez, explains. "The bulk of this growth is coming from large retailers like CVS, Walgreens, and Kroger entering the market and providing that availability to consumers." Better, more Americans are supportive of cannabis legalization. In fact, according to a Gallup survey, 66% of Americans are in favor of legalization. That's up from just 60% in 2016. In addition, cannabis has become a major talking point as we near the 2020 presidential election. Plus, globally, Brightfield Group has also projected CBD sales to hit $22 billion by 2022 , handing sizable opportunities to North American companies such as MYM Nutraceuticals Inc. (OTCQB: MYMMF) (CSE: MYM), Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB), Agraflora Organics International Inc. (OTCPK: PUFXF) (CSE: AGRA), Charlotte's Web Holdings Inc. (OTCQX: CWBHF) (CSE: CWEB), and Aphria Inc. (NYSE: APHA) (TSX: APHA).
MYM Nutraceuticals Inc. (CSE: MYM) (OTCQB: MYMMF) BREAKING NEWS: MYM Nutraceuticals just announced it closed a $5.5 million debt financing commitment with Trichome Financial Corp., which will allow the Company to fully fund its strategic plan through 2020. "After considerable due diligence, MYM and Trichome Financial have closed on a debt financing of $5.5 million," said Howard Steinberg, CEO of MYM. "The commitment is an incredible vote of confidence for our plans to become global leaders in the cultivation, extraction, and distribution of CBD-rich hemp. The capital raise is a significant milestone that allows the Company to fully fund our strategic plan through 2020." MYM currently has three CBD-rich hemp cultivation and extraction projects, two medical cannabis cultivation projects, and three CBD isolate distribution offices in Mexico, Australia, and Europe. Through 2020, the plan forecasts cultivating over 5 million pounds of CBD rich biomass that if converted into isolate, as per the plan, will produce 108,800 kilograms of CBD isolate. Visit mym.ca for more details on the 2019 Strategic Plan.
"We have been thoroughly impressed with the level of expertise and sophistication that MYM's new senior leadership team has displayed as they execute a pivot towards becoming leaders in all aspects of CBD-rich hemp" said Michael Ruscetta, CEO of Trichome. "This transaction is another example of Trichome providing flexible and timely capital fully secured against all the assets and licenses of MYM, which we expect will deliver extremely attractive returns." FOR MORE INFO ON MYM, PLEASE GO TO https://www.mym.ca/
Other cannabis-related developments from around the markets include:
Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB) just received Health Canada licenses for outdoor cultivation at two Canadian sites. The new sites in Quebec and British Columbia will be used for cultivation research to develop new technology, genetics and intellectual property in order to drive sustainable, high-quality outdoor production. Aurora purposefully chose the outdoor sites because they represent two different growing environments. The company will conduct research on cultivation techniques to further excel at growing cannabis in varying climate conditions and will examine approaches to environmentally sustainable cannabis agriculture. The newly-named Western facility will be called Aurora Valley and is a 207-acre operation in Westwold, British Columbia. The Eastern facility, a 21,000 square foot operation at the Aurora Eau facility in Lachute, is the first approved outdoor grow operation for cannabis in Quebec. Aurora Valley is expected to be planted shortly and Aurora Eau has already been planted.
The two sites are an extension of the scientific research Aurora will be conducting at its new Comox facility, which will be ready in the fall of 2019. The Comox facility consists of a 21,000 square foot indoor grow facility and a 10,500 square foot laboratory. This unique research centre will be home for Aurora's plant breeding team designed to create new cannabis cultivars with improved growing characteristics for both indoor and outdoor cultivation. "Aurora believes in innovative operations and intensive research and we're applying our approach to outdoor grown cannabis," said Aurora CEO Terry Booth. "Our team plans to use these areas to ensure we are able to consistently grow the high-quality cannabis Aurora has become known for around the world. We're proud to be a Canadian company and this is a further commitment to research and job creation in Canada."
Agraflora Organics International Inc. (CSE: AGRA) (OTCPK:PUFXF) just provided operational guidance and corporate development updates pertaining to its wholly-owned vertically integrated cannabinoid-infused cosmetics/topicals subsidiary Canutra Naturals Ltd., including the U.S. expansion of Canutra's trusted consumer brand suite including its Whole Hemp Health line of all-natural skin care products derived from 100% Organic Canadian hemp seed oil; Introduction of its vertically integrated "farm-to-face" cultivation manufacturing and distribution model across all 50 U.S. States; Exclusive partnership with leading digital marketing firm Covault Technologies Inc. By way of its wholly-owned cannabinoid-infused cosmetics/topicals subsidiary Canutra AgraFlora is equipped with robust cultivation extraction manufacturing and distribution capabilities from the Company's flagship facility in Kent County New Brunswick. Canutra' owns and operates 76 acres of unzoned arid agricultural land including 1000 feet of river frontage.
Charlotte's Web Holdings Inc. (CSE: CWEB) (OTCQX: 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."
Aphria Inc. (NYSE: APHA) (TSX: APHA) announced the launch of its new social impact platform, Plant Positivity. Championing the incredible power that plants have in overall well-being and providing greater access to green spaces for communities, Plant Positivity will be a new component of Aphria's existing Corporate Social Responsibility strategy, which will continue to deliver on the Company's commitment to give back to both people and the planet. The platform will be brought to life through three interconnected pillars – Plant Education, Plant Access, and Plant Impact. In 2019, Plant Positivity is partnering with the national not-for-profit Evergreen to create six new garden spaces this summer – the Plant Positivity Gardens – at the national headquarters, Evergreen Brick Works in Toronto. Aphria's investment will add more than 50 varieties of native plant species to the existing 8,000-square-metres of gardens across the site, a global showcase for sustainability and urban innovation that opened in 2010. Plans are also underway to develop a Plant Positivity Garden in Leamington, Ontario with a local community partner. "Finding ways to give back and fostering stronger, healthier communities everywhere Aphria operates is the core of who we are," said Irwin D. Simon, Interim CEO, Aphria Inc. "Countless studies have shown that increased exposure to plants and green spaces contributes to overall well-being. Through our Plant Positivity Gardens at the Evergreen Brick Works, we hope to make a meaningful impact on people's lives."
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