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The Brightfield group reported the hemp-derived CBD market is project to exceed $500 million this year and it may even grow 40 times to $22 billion by 2022, if and when the 2018 Farm Bill passes full legislation. The rapid growth will be supported by an anticipated explosion in distribution channels for these products in the next few years; chain retailers are expected to enter the market as soon as 2019. A RollingStone recent article stated, “Previously, CBD products have been available mostly in head shops, with a few doctors recommending it for various maladies. But in 2017 and 2018, the products spread to natural food stores, beauty aisles, cafes and doctors offices. So far the industry is on track to hit $591 million in 2018, and thanks to a number of factors – including, surprisingly, Senate Majority Leader Mitch McConnell – that could increase 40 times in the next four years.” Active companies in the Cannabis market this week include Cannabis Strategic Ventures, Inc. (OTC:NUGS), MariMed Inc. (OTCQB:MRMD), Freedom Leaf Inc. (OTCQB:FRLF), mCig, Inc. (OTCQB:MCIG), Liberty Health Sciences Inc. (CNSX:LHS-CN.CN) (OTCQX:LHSIF).
Cannabis Strategic Ventures, Inc. (OTCPK:NUGS) BREAKING NEWS: FITAMINS(TM), a wholly owned subsidiary of Cannabis Strategic Venture announced today that Art ‘One Glove’ Jimmerson, former professional boxer and Mixed Martial Arts fighter, Ultimate Fighting Championship Pioneer and coach, has partnered as a brand Ambassador FITAMINS. FITAMINS is a proprietary health and wellness formula containing 25 mg of Hemp-derived THC-free Cannabidiol (CBD) and other joint supporting vitamins that work to improve health and relieve joint and muscle pain, encouraging movement and flexibility.
“Having a UFC pioneer like Art ‘One Glove’ Jimmerson join the FITAMINS family highlights a growing trend among athletes who are discovering the natural benefits of hemp derived CBD products,” said Simon Yu, CEO, Cannabis Strategic Ventures. “More and more athletes who participate in one of the many sports regulated by the World Anti-Doping Agency (WADA) and other professional leagues worldwide are now incorporating hemp derived CBD into their training regimen without concerns for doping.”
Jimmerson, who compiled a 51-18 record over a nearly twenty-year career spanning from 1985-2002, kicked-off the FITAMINS(TM) partnership this weekend at the UFC 25th Anniversary Fight Night in Denver, Colorado, an event viewed by millions of fans. As an amateur, Jimmerson was the 1983 National Golden Gloves Middleweight champion. It was during his MMA fight at UFC 1, where he faced Royce Gracie in Gracie’s debut fight in the 16-man, “no rules” single-elimination tournament where Jimmerson entered the cage sporting only one boxing glove, earning him the nickname ‘One Glove.’
Jimmerson commented: “As a professional fighter and now trainer to the next generation of fighters, I coach my best when my mind and body are in top shape.” “FITAMINS products can help new athletes and retired athletes like me keep our bodies in the best shape possible.” Read this and more news for Cannabis Strategic Ventures at: http://www.financialnewsmedia.com/news-nugs
Other recent developments and major influences in the cannabis industry include:
MariMed Inc. (OTCQB:MRMD) and GenCanna Global Inc. jointly announced this week that the companies have entered into an agreement whereby MariMed has invested $30 million in GenCanna, and the companies have created a strategic partnership, including a long-term supply agreement. The partnership expands MariMed’s robust product development capabilities and strengthens GenCanna’s position as a global leader in the Hemp CBD industry. MariMed, a multi-state operator that develops and manages cannabis facilities and branded product lines, intends to create a product and branding business unit focused on the development and distribution of Hemp CBD-derived products.
Freedom Leaf Inc. (OTCQB:FRLF) announced recently that it will be debuting its new corporate branding structure, centered around providing natural, full-spectrum hemp CBD health and wellness products to a growing global marketplace. The Company intends to exhibit our corporate pivot towards health-focused, pharmaceutical-grade hemp products to tens of thousands of potential buyers and investors at MjBizCon 2018, November 14th to 16th. The Marijuana Business Conference, hosted each November in Las Vegas by Marijuana Business Daily, is the largest business-focused cannabis conference in North America. Freedom Leaf Inc. will be utilizing this opportunity to launch our health and wellness portfolio and branding initiative, pushing Freedom Leaf Inc. to the forefront of the professional hemp and cannabis industries.
mCig, Inc. (OTCQB:MCIG), an innovative hemp and cannabis corporation, recently announced its first hemp harvest is expected to be completed by the end of the week. Once the plants have dried, the buds will be stripped, bagged, and prepared for ethanol extraction. The development of high-output ethanol extraction equipment will allow the company to keep processing costs to a minimum. mCig will keep some of the plants to process for its own needs, including its new pet line, Artax, and its forthcoming pain cream. The remainder of the crop will be sold. CEO of mCig, Paul Rosenberg, states: “The New York farm has now proven to be a viable revenue stream for the company.
Liberty Health Sciences Inc. (CNSX:LHS-CN.CN) (OTCQX:LHSIF), a provider of high quality cannabis, announced recently the planned opening this week of three of its newest Cannabis Education Center (CEC) dispensaries in Winter Haven, FL; Palm Harbor, FL, and Merritt Island, FL featuring free 24-hour delivery service throughout Florida. Opening for the Palm Harbor and Merritt Island locations are subject to DOH approval. The new dispensaries are located at 31486 US Highway 19 North, Palm Harbor, FL; 1285 1st Street, Winter Haven, FL, and 150 East Merritt Island Causeway, Merritt Island, FL. The dispensaries are open Monday through Friday, 10 a.m. to 7p.m., Saturday, 10 a.m. to 5 p.m., and Sunday 12 p.m. to 5 p.m. Currently, Liberty operates four dispensaries and six delivery hubs with 24-hour delivery to any resident in the state.
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