via OTC PR WIRE — Kona Gold Solutions, Inc. (OTC Pink: KGKG), a hemp and CBD lifestyle brand focused on product development in the functional beverage sector, is pleased to announce it has beat Second Quarter protected revenue of $400,000 by over $320,000. Kona Gold had its first ever profitable quarter on revenue of over $720,000 from sales of its popular Kona Gold Hemp Energy Drinks and HighDrate CBD Energy Waters. The Company will surpass $1 million in revenue for 2019 this month.
As more jurisdictions have approved medicinal uses of cannabis, many of them have followed with approval of consumer recreational uses… and more food & other consumer CBD infused products are increasingly on the rise as well. This formula should continue the rise in both the projections and in the cannabis markets overall revenues for years to come. A report from Mordor Intelligence, forecasts that: “The cannabis market was valued at USD 14.5 billion in 2018, and it is projected to reach 89.1 billion by 2024, with a CAGR of 37% during the forecast period. The drivers identified in the market are medicinal properties of cannabis, increasing legalization of cannabis, and increasing advances in genetic development and intellectual property of cannabis. Medicinal cannabis accounts for the majority share of the cannabis market, when segmented on the basis of usage. Many countries have legalized the usage of cannabis for medicinal purposes. Many countries, where cannabis has been legalized, have a large adult population aged 50 and above. This increases the demand for medicinal cannabis, as the affinity of getting sick with chronic diseases increases after 50 years. “The growth rate can be attributed to the fact that various countries are now legalizing the usage of cannabis for medical purposes and various states in the US are legalizing the usage of cannabis for recreational purposes as well. North America accounts for more than 95% of the cannabis market, with the US alone making up more than 90% share of the North American market. In the cannabis market, companies are very active and are constantly involved in acquiring shares and developing new products to attract a larger portion of consumers toward their products. Active Companies from around the market with current developments this week include: Marijuana Company of America, Inc. (OTCQB:MCOA), Medical Marijuana, Inc. (OTCPK: MJNA), Kona Gold Solutions, Inc. (OTCPK: KGKG), HEXO Corp. (NYSE: HEXO) (TSX: HEXO), Terra Tech Corp. (OTCQX: TRTC).
via OTC PR WIRE — Kona Gold Solutions, Inc. (OTC Pink: KGKG), a hemp and CBD lifestyle brand focused on product development in the functional beverage sector, is pleased to announce it has signed a distribution agreement with H & M Wagner & Sons Foodservice. H & M Wagner & Sons Foodservice is a family owned Broadline Foodservice distributor for over 58 years. Located in the heart of Glen Burnie, Maryland, their Customer Centric attitude gives them a unique bond to build lasting relationships with their customers and employees in the Mid-Atlantic region.
Industry reports show that in the U.S. more smaller farmers are getting into the hemp cultivation business, while larger established companies are expanding their acreage and using clones and seeds with better genetic properties, for better output. The industry is growing both in size and in technological/biological efficiencies and there are lessons yet to be learned in this rapidly growing cultivation market. One recent article said: “Growers can plant feminized seeds — which are bred to maximize flower production — start plants in a greenhouse before transplanting them to the field, or use clones. Approaches vary in cost and labor requirements. (An industry source) said clones produce the most stable field results but are the most expensive option… Genetic purity and strength are critical, said (another industry source). Genetics should be selected based on heartiness for a region, market demand and overall crop viability, he said “There is not any reason to do anything without correct genetics,” he said. “I can’t stress that enough, because there were many farmers in Oregon last year who were not able to participate in sales this year because they did not buy the right seed.” Active Companies from around the market with current developments this week include: Marijuana Company of America, Inc. (OTCQB:MCOA), Kona Gold Solutions, Inc. (OTCPK: KGKG), Cresco Labs Inc. (CSE: CL.CN) (OTCQX: CRLBF), Hemp Inc. (OTCPK: HEMP), American Premium Water Corporation (OTCPK: HIPH).
via OTC PR WIRE — Kona Gold Solutions, Inc. (OTC Pink: KGKG), a hemp and CBD lifestyle brand focused on product development in the functional beverage sector, is pleased to announce it has partnered with 15 new distributors within the last 45 days. The signing of these new distribution partners places Kona Gold’s popular Hemp Energy Drinks and CBD Energy Waters in six new states and eight states the Company currently has distribution in, expanding reach and market presence in those states. Kona Gold has now partnered with 31 new distributors over the last 75 days in its aggressive push to grow the Company into a national brand. Kona Gold currently has distribution partners in 30 states.
Last year’s Farm Bill started a process in motion that is continuing to grow and rise like a tsunami. Removing Hemp from the Controlled Substance list created what an industry report by New Frontier called, a ‘financial domino effect”. Hemp CBD is different from marijuana CBD. Hemp CBD oil is extracted from the cannabis varieties that are naturally abundant in CBD, and low in THC. Marijuana on the other hand, is composed of a vast majority of THC and very little THC. A study by New Frontier said: “The passage of that bill started to restore industrial hemp to nationwide legal production for the first time since World War II, offering vast opportunities for the industry and investment in a market expected to triple in four years total U.S. hemp industry now looks to expand at a healthy 18.4% through a 5-year combined annual growth rate (CAGR) from 2018-2022 in leading all hemp product categories, the hemp-derived CBD market will grow from a $390 million-dollar market in 2018, to a $1.3 billion market (or 3.3x) by 2022, representing a 27.2% 5-year CAGR. Active companies in the markets this week include: Canbiola, Inc. (OTCQB: CANB), Marijuana Company of America, Inc. (OTCQB: MCOA), PotNetwork Holdings, Inc. (OTCPK: POTN), Medical Marijuana, Inc. (OTCPK: MJNA), Kona Gold Solutions, Inc. (OTCPK: KGKG).
Kona Gold Solutions, Inc. (OTC
Pink: KGKG), a hemp and CBD lifestyle brand focused on product
development in the functional beverage sector, is pleased to announce it
had a record month in May with revenue just over $200,000 from sales of
its popular Kona Gold Hemp Energy Drinks and HighDrate CBD Energy
Waters. The Company continues to exceed revenue projections and is on
track to hit $600,000 in revenue for the second quarter of 2019. Kona
Gold originally projected second quarter revenue of $400,000, which it
has already surpassed, with almost a full month remaining in the quarter.
via OTC PR WIRE — Kona Gold Solutions, Inc. (OTC: KGKG) a hemp and CBD lifestyle brand focused on product development in the functional beverage sector, is pleased to announce it has signed an LOI to lease warehouse space in Greer, South Carolina, right outside of Greenville. The warehouse encompasses 30,000 square feet, in which the Company will acquire 15,000 square feet with the option to lease the additional 15,000 square feet within two years. The new warehouse space will operate as Kona Gold’s distribution hub, where all product will be stored and shipped to distributors around the country. The location will also serve as a new Gold Leaf Distribution hub as the Company expands Gold Leaf’s distribution footprint in new markets. Gold Leaf is currently targeting potential distribution acquisitions to expand its territories and product offerings.
A couple of recent articles painted a rosy picture for hemp cultivation in the next few years. An article [https://www.marijuanamoment.net/industrial-hemp-cultivation-exploded-in-the-u-s-last-year-report-shows/] on Marijuana Moment said: “Industrial hemp production significantly increased in the U.S. in 2018, with farmers cultivating three times as many acres of the crop as compared to the previous year. Farmers grew more than 78,000 acres of legal hemp last year, the advocacy group VoteHemp reported. In 2017, they grew about 26,000 acres and in 2016, the total was just under 10,000 acres… But while those are impressive gains–the product of a growing number of state-level reform policies that expanded the pool of farmers licensed to grow hemp… expect another massive surge in 2019 thanks to hemp’s outright legalization through the new Farm Bill… The legislation is a game-changer in terms of production estimates, advocates say. And it’s not just California and Colorado and the western states that are getting into the picture. An article focusing on northeastern U.S said: “Other owners of tens of thousands of acres of preserved agricultural land are betting on a bill that’s working its way through the state Legislature that will allow them to join a business that’s expected to be worth $22 billion by 2022. The demand for CBD products is exploding. At the moment the demand is far outpacing the supply,” said Heather Darby, a hemp expert at the University of Vermont Extension who has advised agricultural officials and prospective hemp cultivators in Massachusetts. “Farmers and businesses are scaling up production quickly and moving from producing an acre to producing 50 acres… About 1,500 to 2,000 hemp plants can be grown per acre generating between $40,000 and $50,000, according to information provided by Brightfield Group, a Chicago-based cannabis research firm. Active Companies from around the market with current developments this week include: Marijuana Company of America, Inc. , VIVO Cannabis Inc. , MariMed Inc. , Kona Gold Solutions, Inc. , Terra Tech Corp. .
Over the past couple of years the increasing consumer demand for medical and legal recreational cannabis has been growing and more and more governments are steadily moving to full legalization. A report from the Green Fund stated: “The global cannabis market is thought to be worth USD$150 billion today. Barclays, in their European Consumer Staples Report in September 2018, suggests that this figure could increase to USD$272 billion by 2028. The UN estimates that approximately 3.9% of the global adult population, or 190 million people, are cannabis users (vs. 1 billion smokers). The highest prevalence of cannabis users was found to be from Europe, followed by the US and the Oceania Region. Although small, the Oceania Region is considered significant given its access to the Asia Pacific region.” The report continued: “Despite the sharp divides in support for cannabis legalization, a few things are clear: public support for marijuana legalization continues to increase, the industry is already a multibillion-dollar juggernaut that looks primed for continued expansion, and there are clear potential medical benefits of cannabis. Active Companies from around the market with current developments this week include: Marijuana Company of America, Inc. (OTC:MCOA), Medical Marijuana, Inc. (OTCPK: MJNA), Kona Gold Solutions, Inc. (OTCPK: KGKG), Aleafia Health Inc. (TSX: ALEF) (OTCQX: ALEAF), Terra Tech Corp. (OTCQX: TRTC).