According to data compiled by Hemp Business Journal, a division of New Frontier Data, the U.S. hemp industry totaled USD 820 Million in sales in 2017 and is projected to grow to USD 1.9 Billion by 2022, growing at a CAGR of 14.4% during the forecasted period. The U.S. hemp-based product market was mainly comprised of sales within the hemp CBD products, personal care, industrial applications and food segments. The market grew by 16% in 2017, driven by continued domestic legalization and regulatory challenges. During the forecast period, the larger market value segments of the hemp product market will continue to drive the overall industry. Hemp-derived products are expected to hold the largest market value, contributing USD 646 Million in sales, while industrial applications follow, driving in USD 527 Million in sales. The U.S. is and will remain the largest global importer of hemp-based products, which includes textiles from China, food and seed from Canada and industrial applications from Europe. American Premium Water Corporation (OTC:HIPH), VIVO Cannabis Inc. (OTC:VVCIF), mCig, Inc. (OTC:MCIG), MassRoots, Inc. (OTC:MSRT), United Cannabis Corporation (OTC:CNAB)
CBD-based products are heavily growing globally due to its versatile uses. While CBD may be commonly associated with recreational products, it is rapidly growing within other segments, such as the medical cannabis market. In mid-2018, Kentucky Republican Senator Mitch McConnell introduced a proposal that would remove hemp, including hemp-derived CBD, from the Controlled Substances Act. According to Forbes, his decision may have been prompted by the U.S. Food and Drug Administration’s pending decision to use Epidiolex (contains CBD) to treat epilepsy. “On one hand, yes, it’s really surprising to see this young industry be at such huge numbers so quickly-and still kind of pulling itself together-and on the other side, I don’t think it’s a surprise at all, because it’s about time. With such a long human history of cannabis being an important plant, it makes sense that this is just exploding back onto the public consciousness like it does every couple decades,” said Lex Pelger, Science Director at Bluebird Botanicals, said in an interview with Cannabis Dispensary published by Cannabis Business Times.
American Premium Water Corporation (OTC:HIPH) earlier this week announced that it will be outlining its national sales strategy in advance of the 2018 Marijuana Business Conference & Expo in Las Vegas, NV (MJBIZ) which will be attended by CEO and Interim Chairman Ryan Fishoff. This comes after two weeks after the launch of the Company’s CBD water collaboration with Canna Nano, which has sold over three hundred and fifty bottles since the release on Singleseed.com, the wholly owned subsidiary of Singlepoint, Inc, (OTCQB:SING).
The Company has identified four geographic markets that it will be focusing its efforts to expand its wholesale brick and mortar strategy; the New York City metropolitan area, the Los Angeles metropolitan area, the Las Vegas metropolitan area, and the Miami/South Florida metropolitan area. These four markets will be the core of a nationwide rollout strategy that will commence at MJBIZ, where Mr. Fishoff will be attending and meeting with distributors and wholesalers.
“I am really excited for the MJBIZ conference this week in Las Vegas. I already have a packed schedule of meetings and events with potential wholesalers and distributors. The meetings will be about supporting the Company’s wholesale strategy. These locations were chosen not only for their size and media presence but also the Company’s ability to successfully execute in them. Managements familiarity with these are a strategic advantage. Acquiring distribution is only part of the Company’s strategy to solidify market share; local events are being planned in coordination with social media marketing programs that will be rolling out in the coming weeks to support the ‘ground game’ efforts in growing retail distribution. Other markets, including Canada remain a focus for the Company, and we will detail our plans for those areas in coming weeks as well,” commented Mr. Fishoff.
“I love events like MJBIZ where there is so much energy in the building and you feed off it. It’s a full sprint where you try to meet as wide a spectrum of companies and try to arrange as many meetings as possible to maximize productivity. At big conferences (MJBIZ) there are always one or two meetings that happen out of the blue; they usually surprise you for what comes out of them. I generally like to keep an open mind attending these because you never know what could come out of even the most non-descript interaction. The primary goal of the week is to expand our distribution and business development activities. I look forward to reporting the Company’s progress and a full overview of the conference to our shareholders in short order,” added Mr. Fishoff.
American Premium had announced in October that it completed its first third-party distribution deal with SinglePoint, Inc (OTCQB:SING). The Company announced later in the month that it had collaborated with the CBD products brand Canna Nano (http://www.cannananocbd.com) which is being sold on Singleseed.com. These developments have further established the Company as premier player in the CBD sector, which has caught the attention of Zacks Investment Research, whom began coverage of the Company. Zacks, sporadically covers stocks in the OTC and does not provide coverage for the Company’s competitors such as Puration, Inc (PURA), Kona Gold Solutions, Inc ( KGKG) or Elev8 Brands Inc, (VATE). Zacks recently upgraded its investment outlook for the Company, along with New Age Beverage ( NBEV).
“We have been extremely happy so far with our partnership with American Premium. The Lalpina products have sold very well without advertising or any promotion. Over the next few weeks, SinglePoint plans to expand its online presence through various ad networks to increase traffic, and in turn, sales of Lalpina CBD water through the portal.” Stated Wil Ralston, President, SinglePoint, Inc.
“I have been extremely happy with our partnership with SinglePoint so far. They have been great and it’s been mutually beneficial relationship. I look forward to taking some time at MJBIZ to sit down with them (SING) and figure out more ways the two companies can work together. We are still working on our other acquisition initiatives. A lot of great things are happening with the Company, I’m glad Zacks took notice and shares the long-term view. Right now, we’re trying to stay focused on growing sales and executing the strategic acquisitions we have previously discussed. As always, as soon as there are developments, we will share those with the investment community,” added Mr. Fishoff.
VIVO Cannabis Inc. (OTCQX:VVCIF) , based in Napanee, Ontario, is recognized for trusted, high-quality products and services. VIVO Cannabis Inc. recently announced that it has entered into an agreement with Pharmascience Inc. (“Pharmascience”), a global pharmaceutical company based in Montreal that holds a Dealers License from Health Canada, to develop products containing cannabis that will make it easier for patients to use medical cannabis. The partnership reflects VIVO’s commitment to research and innovation and its goal of creating novel products which improve the safety and efficacy of medical cannabis. On behalf of VIVO, Pharmascience is creating a line of specific medical cannabis formulations that are intended to maximize therapeutic benefit to patients by using pharmaceutical quality standards. It is anticipated that health care professionals and patients will welcome the availability of precisely controlled, high-quality, standardized dosage forms of cannabis. “VIVO, through our Beacon Medical(TM) division, is committed to launching innovative precise-dosage formats for medical cannabis, with the intent of enhancing patient safety and efficacy. We are pleased to combine our strengths with those of Pharmascience for the benefit of our current and future medical patients,” commented Barry Fishman, Chief Executive Officer of VIVO.
mCig, Inc. (OTCQB:MCIG), headquartered in Jacksonville, Florida, is a diversified company servicing the legal cannabis, hemp, and CBD markets via its lifestyle brands. mCig, Inc. recently provided an update on their high yielding CBD hemp project in New York. mCig’s highly anticipated hemp harvest has begun in New York State. mCig will harvest its high yielding cannabidiol (CBD) hemp crop grown in an orchard style cultivation. mCig’s Research and Development team will carefully analyze the cannabinoid profiles of the various hemp strains grown as it continues to perfect the most efficient and effective way to cultivate cannabidiol-rich hemp. “We’re harvesting our first annual hemp crop and are already in discussions with other farmers interested in growing hemp as an alternative to traditional crops. With these partnerships, we plan to expand our operations in New York, and grow over one hundred acres of hemp there in 2019. And, we’re on the cusp of breaking into the European market,” says Paul Rosenberg, Chief Executive Officer. “It’s great to be where we’re at right now.”
MassRoots, Inc. (OTCQB:MSRT) is one of the leading technology platforms for the regulated cannabis industry. MassRoots, Inc. recently announced that its recently launched rewards program for cannabis consumers, WeedPass, has on-boarded more than 50 participating dispensaries. WeedPass customers have already earned more than 650 tickets for sporting events and festivals, such as Reggae on Rt. 66, driving more than USD 45,000 in sales to participating dispensaries. “We plan to continuously expand our dispensary footprint and consumer reach, in addition to the variety of rewards listed on our platform. We expect this to drive more consumers and purchasing volume to our dispensary clients,” stated Isaac Dietrich, MassRoots’ Chief Executive Officer. “We believe WeedPass’s unique structure can drive significant purchasing volume to the thousands of dispensaries across the United States by offering compelling rewards for mainstream cannabis consumers.”
United Cannabis Corporation (OTCQB:CNAB) is a biotechnology company dedicated to the development of phyto-therapeutic based products supported by patented technologies for the pharmaceutical, medical, and industrial markets. United Cannabis Corporation recently announced that it has signed an Agreement with Releaf Global Pty Ltd. (“Releaf”) to form and operate an Australian corporation (“NEWCO”) for the purpose of commercializing the Company’s patented Prana Bio Nutrient Medicinals, cannabis-centric products and technologies in Australia and other territories. According to the terms of the Agreement, United Cannabis will grant NEWCO an exclusive, royalty-bearing license to produce and distribute its Prana line of products and will contribute its expertise in cultivation, production and wholesale operations. The partnership also provides the opportunity for NEWCO to import United Cannabis’ products from Jamaica until NEWCO is fully operational and able to produce the Company’s products in Australia. Earnest Blackmon, United Cannabis’ Chief Executive Officer, commented, “Australia represents a substantial opportunity for United Cannabis. Our Prana line is ideally suited for new markets as it provides patients and caregivers with a guided program to develop therapies targeted to a given patient’s unique concerns.”
Subscribe Now! Watch us report LIVE https://www.youtube.com/FinancialBuzzMediaFollow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzzFollow and talk to us on Instagram: https://www.instagram.com/financialbuzzFacebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/
FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.
For further information:Media Contact: email@example.com+1-877-601-1879