FinancialNewsMedia.com News Commentary
A growing number of North American consumers are showing more and more interest in Cannabis Based and CBD infused products which are being greeted by an explosion of new product innovations that can be purchased through many different individual products ranging from healthcare & medical products, pet products, beverage and edibles products and good ole fashion marijuana. According to a new report released recently by the Brightfield Group, the hemp-derived CBD market alone will reach sales of $22 billion by 2022, outpacing cannabis sales, and surging from $591 million in 2018 — that’s a five-year CAGR of 132 percent. In areas across the U.S. and Canada retail outlets are expecting to not be able to keep cannabis based and CBD products on the shelves as CBD can now even be found at massage spas, gyms, and through an growing number of direct sellers. Active cannabis stocks in the markets today include: CROP Infrastructure Corp. (CNSX:CROP.CN) (OTC:CRXPF), Cronos Group Inc. (NASDAQ:CRON) (TSX:CRON.TO), Canopy Growth Corporation (TSX:WEED.TO) (NYSE:CGC), Aurora Cannabis Inc. (TSX:ACB.TO) (OTC:ACBFF), Namaste Technologies Inc. (TSXV:N.VN) (OTC:NXTTF).
CROP Infrastructure Corp. (CNSX:CROP.CN) (OTCPK:CRXPF) BREAKING NEWS: CROP Infrastructure announces that further to its LOI with Naturally Splendid Enterprises (TSXV:NSP.VN)(OTCQB:NSPDF) (previously announced on August 14th 2018) CROP will utilize NSP’s proprietary HempOmega(TM) powder created from microencapsulated hemp seed oil in its “CannaDrink” functional beverage line currently being developed.
CannaDrink will now be available in all other jurisdictions containing HempOmega(TM) where CBD products are not yet approved. CROP’s new cannabis-infused line of soft drinks called CannaDrink will be a zero calorie, non-GMO, ketogenic-friendly line of soda pop, tea, and coffee variations.
HempOmega(TM) is a unique and proprietary homogenous powder created from microencapsulated hemp seed oil. It is a high-quality and sustainable omega fatty acid alternative ingredient. Due to its unique powder format, it solves the formulation challenge manufacturers face when trying to add oil to existing products and has proven to increase the bioavailability of omega fatty acids. The global carbonated soft drinks market is projected to reach USD 605.6 Billion by 2025, according to a March 2018 report by Grand View Research, Inc.
In addition to its CannaDrink beverage line, CROP is working with Naturally Splendid to develop a “Hempire” branded Hulled Hemp Seed and Protein Powder product line. CROP and Naturally Splendid are currently testing a variety of flavors and formulations created by NSP specifically for the Hempire Brand that will be enhanced with NSP’s HempOmega(TM).
Naturally Splendid CEO Mr. Douglas Mason states, “We are pleased to be working with CROP to create quality, white-labelled hemp products for the Hempire brand as well as providing our proprietary HempOmega(TM) ingredient for CROP’s innovative CannaDrink functional soft drink line. CannaDrink is formulated to deliver superior omega nutrition, by utilizing Naturally Splendid’s proprietary HempOmega(TM) it provides ‘first mover advantage’ for Naturally Splendid and CROP to formulate cannabis formulated beverages and edibles as HempOmega(TM) has been approved for product fortification without the concern or restrictions of cannabinoid formulated beverages and edibles. Read this full announcement and more news for CROP Infrastructure at: http://www.financialnewsmedia.com/news-crop/
Additional cannabis industry related developments from around the markets:
Cronos Group Inc. (NASDAQ:CRON) (TSX:CRON-TO.TO) recently announce the commencement of a joint medical cannabis study with Aleafia Health Inc. to improve the management and treatment of insomnia and daytime sleepiness. The study is funded in part by Peace Naturals Project Inc., a licensed producer of medical cannabis that is wholly owned by Cronos Group. The study will be led by physicians practicing within the Canabo Medical Clinic network, which is wholly owned by Aleafia. According to a July 2017 report from the Canadian Centre on Substance Use and Addiction, entitled Drug Summary: Prescription Sedatives, 11.4 per cent of adults aged 25 and older had used a prescription sedative in the past year. The study will aim to assist in the treatment of insomnia and the development of non-addictive, natural sleep aids.
Aurora Cannabis Cannabis Inc. (TSX:ACB-TO.TO) (OTCQX:ACBFF) recently announced it has partnered with Elevate, Canada’s Tech Week, to present a stand-out roster of panel discussions and interactive sessions with innovators and pioneers in the cannabis industry. As a gold partner of Elevate, Canada’s largest tech and innovation festival, Aurora has been instrumental in shaping the Elevate Cannabis and Elevate Health tracks that will feature leading experts in research, medicine, finance and entrepreneurship in the cannabis industry. “We are thrilled to partner with Elevate this year. This conference is about showcasing Canada as a leader in technology as well as demonstrating a diverse and inclusive society. This is precisely what Aurora stands for – innovation, community, culture,” says Paula Whitmore , Director, Partnerships and Events, Aurora. “The line-up of speakers and topics demonstrates our desire to work with different industries to develop innovative solutions and products in the recreational and medical environments.”
Namaste Technologies Inc. (TSXV:N-V.VN) (OTCQB:NXTTF) recently announced it has entered into a letter of engagement with Eight Capital, under which Eight Capital has agreed to purchase, as co-lead underwriter and joint bookrunner with Canaccord Genuity Corp., 15,000,000 units of the Company (the “Units”), on a “bought deal” basis pursuant to a filing of a short form prospectus, subject to all required regulatory approvals, at a price per Unit of $3.00 (the “Issue Price”) for gross proceeds of $45,000,000 (the “Offering”). The Company has agreed to grant the Underwriters an over-allotment option to purchase up to an additional 15% of the Units at the Issue Price, exercisable in whole or in part, at any time on or prior to the date that is 30 days following the closing of the Offering. If this option is exercised in full, an additional approximately $6,750,000 will be raised pursuant to the Offering and the aggregate proceeds of the Offering will be approximately $51,750,000.
Canopy Growth Corporation (TSX:WEED-TO.TO) (NYSE:CGC) recently responded to Ontario’s retail rollout plan. The Company is looking forward to serving customers at retail locations at the site of its production facilities and especially looks forward to initiating the process of obtaining the necessary retail licences required to operate cannabis retail at its Smiths Falls headquarters where a merchandise store is already in place at a Tweed-branded visitor centre. The Company looks forward to pursuing additional retail capabilities, taking advantage of the diversified arms of its business, including the newly acquired Tokyo Smoke platform, its multiple licensed production sites, and additional opportunities available through its affiliated investment arm, Canopy Rivers Inc. (RIV.V). The Company believes that third party private retail represents a meaningful business opportunity compared to a provincially run retail system, and Canopy Growth’s family of brands will feature prominently under any retail framework. “The future of the Ontario cannabis market is bright,” said Mark Zekulin , co-CEO and President, Canopy Growth. “As a cannabis business with multiple licenses and a variety of diverse subsidiaries, we feel we have a distinct advantage at this stage in the game. The Tweed and Tokyo Smoke retail experiences will offer unique and distinct experiences to appeal to anyone interested in cannabis. And we might even change a few minds.”
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