As CBD just begins its cultural renaissance, the market could more than double in value to $2.5 billion by 2026 from $950 million, according to Transparency Market Research. However, we could see those numbers improve significantly, as CBD disrupts multi-billion-dollar industries, including the $4.2 trillion wellness market. After all, "Hemp-derived CBD has been touted in several medical studies as having a myriad of health benefits ranging from treating psoriasis, atopic dermatitis and eczema to minimizing seizures, stress, and insomnia," says Forbes. That's opening a wide range of opportunity for companies including The Yield Growth Corp. (CSE:BOSS) (OTC:BOSQF), Canopy Growth Corporation (TO:WEED)(NYSE:CGC), Green Thumb Industries Inc. (CN:GTII)(OTC:GTBIF), Green Growth Brands Inc. (CSE:GGB)(OTC:GGBXF), and Charlotte's Web Holdings Inc. (CN:CWEB)(OTC:CBWHF).
The Yield Growth Corp. (CSE:BOSS)(OTCQB:BOSQF) BREAKING NEWS: The Yield Growth Corp. announced a breakthrough in its ongoing research and development of the cannabis sativa (hemp) root. Test results for the extract created using Yield Growth's patent pending extraction method have indicated high concentrations of potentially therapeutic compounds. This innovation is one of many ongoing product development endeavors underway at the Yield Growth. To satisfy the burgeoning market demand for high-quality hemp-based products, Yield Growth has developed a scalable and cost-effective production model incorporating this breakthrough in hemp root oil manufacturing. This Patent Cooperation Treaty (PCT) stage technology refines the hemp root oil process by sequestering the target compounds more efficiently, while providing the volume needed for increasingly larger production SKU's. Data from the latest tests, which commenced in early May, allow the company to define the size and specifications of hemp root oil plant design.
"With the hemp plant supplying such a dynamic range of health benefits for the above ground portion of the plant, why should we expect anything less from the roots, the very foundation of the plant?" asks Bhavna Solecki, Director of Product Development.
Other cannabis-related developments from around the markets include:
Canopy Growth Corporation (NYSE:CGC)(TO:WEED) received a new license from Health Canada permitting it to grow cannabis at an outdoor site in northern Saskatchewan. Hours after receiving the license, the first cannabis cuttings were planted at a 7 million sq. ft. (160 acres) secure cultivation field in the province, one that is patrolled by drones (kidding – no drones, promise.) The new license expands Canopy Growth's diversified Canadian footprint and complements its existing indoor and greenhouse facilities to provide a leading balance of facilities to produce low cost input materials for value-add products, while ensuring more sophisticated growing operations for in-demand flower products. "Our team has outdoor, at-scale cannabis expertise gained from over a decade of hemp farming experience, including Canopy's 4,000-acre hemp operation executed last year, the extract of which is bolstering our CBD supply for the medical and recreational markets," said Mark Zekulin, President and co-CEO, Canopy Growth. "At this stage in the summer planting season we view this as a pilot and ramp up project for outdoor cannabis cultivation, though the team will do everything it can to deliver low cost yields this year."
Green Thumb Industries Inc. (CN:GTII)(OTC:GTBIF), a leading national cannabis consumer packaged goods company and owner of Rise and Essence retail stores, announced it will open its fourth retail location in Florida, Rise Oviedo, the community's first cannabis store, on July 9, 2019. This is GTI's 26th open location in the country. Rise Deerfield Beach, Rise Pinellas Park and Rise Bonita Springs all opened earlier this year, and GTI has a retail footprint for up to 35 stores throughout Florida. The company owns and operates a manufacturing facility in Homestead where it cultivates and produces GTI's branded cannabis products including Rhythm and The Feel Collection. "We are honored to be the first company to provide access to medical cannabis in Oviedo and to help Floridians exercise their right to wellness," said GTI Founder and Chief Executive Officer Ben Kovler. "Our Rise stores provide exceptional customer care and we're thrilled to serve the people of Oviedo and surrounding communities."
Green Growth Brands Inc. (CSE:GGB)(OTC:GGBXF) just announced that it has surpassed 50 Seventh Sense Botanical Therapy shops open in four months. The first Seventh Sense shop opening was announced mid-February, and, since that time, GGB has continued to roll out its Seventh Sense shops at a rapid pace. The Company anticipates opening more than 200 such shops by the end of 2019. Seventh Sense shops retail high-quality botanical therapy CBD-infused personal care and beauty products at affordable prices. The product offering includes over 100 SKUs across bath, body, face, therapeutic, and sleep categories. "This rapid rollout across the U.S. is truly unprecedented," said Peter Horvath, CEO of Green Growth Brands. "We expect to open over 200 shops this year and are confident that we are building one of the largest and most valuable distribution networks for CBD."
Charlotte's Web Holdings Inc. (CN:CWEB)(OTC:CBWHF) 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."
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