One of the biggest stories of the year is CBD, creating opportunities for companies such as Pure Extracts Technologies Corp. (CSE:PULL)(OTC:PRXTF)(XFRA:A2QJAJ), Aleafia Health Inc. (TSX:AH)(OTC:ALEAF), Canopy Growth Corporation (NASDAQ:CGC)(TSX:WEED), Tilray Inc. (NASDAQ:TLRY), and Trulieve Cannabis Corp. (CSE:TRUL)(OTC:TCNNF).
These days, we’re finding CBD in drinks, in beauty and wellness products, in gummies, in soaps, lotions, oils, even in pet stores. Legalization efforts are well underway all over the world, with many more states legalizing its use for recreational and medicinal purposes. Even better, according to Green Entrepreneur, “The statistics show that the Cannabidiol (CBD) market size exceeded $2.8 billion in 2019 and is set to grow at around 52.7% CAGR between 2020 and 2026.” All as people throughout the world wake up to the potential benefits of CBD, including pain relief, the reduction of anxiety and depression, and potential neuroprotective properties.
In addition, according to CBD-Intel market data modelling, as noted by Food Industry Executive, “The US CBD market will break the $3 billion mark in 2023, with massive growth stemming from anticipated regulatory changes. CBD-Intel predicts US Food and Drug Administration (FDA) rules providing a federal path to market are only likely to be developed later this year at the earliest. As a result, food, drink and supplement products such as CBD oils, capsules and edibles will likely be hampered through 2021 and 2022 before fully coming into their own in 2023.”
That Could Help Drive Big Interest in Companies, Such as Pure Extracts Technologies
Pure Extracts Technologies Corp. (CSE:PULL)(OTC:PRXTF)(XFRA:A2QJAJ) just announced that it has ordered a new, state-of-the-art, Cosolvent Injection System (CIS) from Vitalis Extraction Technology Inc. and will be one of the first few companies in the world to receive this innovative system.
Pure Extracts and Vitalis have a long history of collaboration and the Cosolvent Injection System has been developed to enhance the Vitalis carbon dioxide (CO2) extraction systems, like the Q90 and R200 models owned by Pure Extracts, to achieve dramatically faster throughput capacities while producing higher-quality cannabis extracts. The Vitalis CIS has been designed to achieve the optimal ethanol cosolvent flow rate ranges for both cannabis and hemp extracts (i.e., THC and CBD), balancing extract quality with efficiency while keeping ethanol usage exceptionally low.
Pure Extracts’ CEO, Ben Nikolaevsky, remarked, “We are very excited to be one of the first recipients of the Vitalis Cosolvent Injection System. It will allow us to ramp-up our production much faster than we had anticipated allowing us to offer our customers exceptional value while still producing the same high-quality oil extracts we are known for.”
Other related developments from around the markets include:
Aleafia Health Inc. (TSX:AH)(OTC:ALEAF) announced that its products are now available to consumers in Saskatchewan . The initial provincial launch includes a broad array of Aleafia Health’s cannabis product portfolio, including sublingual strips, cannabis oils, dried flower, and vape cartridges. The Company’s adult-use products are now available in four provinces representing 67 per cent of the Canadian population. “The expansion into this new market is part of a much broader adult-use strategy that we continue to accelerate through the launch of exciting new product formats,” said Aleafia Health CEO Geoffrey Benic. “We are excited to begin expanding our presence in Saskatchewan, a province which boasts a well-earned reputation for a business and consumer-friendly cannabis regulatory regime.”
Canopy Growth Corporation (NASDAQ:CGC)(TSX:WEED), a world-leading diversified cannabis, hemp, and vaporization device company, has entered the high-potential U.S. CBD beverage category with the launch of Quatreau, a premium ready-to-drink CBD-infused sparkling water. The stateside launch follows the successful 2020 rollout of Canopy Growth’s CBD-infused beverages in Canada, where Quatreau is now the top-selling ready-to-drink CBD beverage. Quatreau sparkling water contains 20 mg of premium, U.S. grown hemp-based CBD and one of four refreshing flavors. With an MSRP of $3.99 per 12-ounce can, Quatreau is a functional zero-sugar drink that delivers a natural, low calorie beverage alternative at an accessible price point.
Tilray Inc. (NASDAQ:TLRY), a global pioneer in cannabis research, cultivation, production and distribution, reported financial results for the full fiscal year and fourth quarter ended December 31, 2020. All financial information in this press release is reported in U.S. dollars, unless otherwise indicated. Brendan Kennedy, Tilray’s Chief Executive Officer, stated, “Over the course of 2020, and despite COVID-19 related challenges, we transformed and strengthened Tilray, delivered solid full year results, significantly reduced net loss, and achieved our stated goal of delivering break even or positive Adjusted EBITDA in Q4 2020. We did so by generating meaningful revenue growth across our core businesses, particularly international medical and Canadian adult-use in Q4, and reducing costs by $57 million on an annualized basis compared to Q4 of 2019. As a result, we now operate with a more focused, efficient and competitive cost structure. We also strengthened our balance sheet and positioned Tilray for growth and success in the future in combination with Aphria. These results required hard work and dedication and I sincerely appreciate everything the Tilray team has done to transform our business during 2020. We now look forward to the beginning of the next chapter in our corporate journey.”
Trulieve Cannabis Corp. (CSE:TRUL)(OTC:TCNNF), a leading and top-performing cannabis company in the United States, announced the promotion of Eric Powers to Chief Legal Officer , and the appointments of Ronda Sheffield to Chief Human Resources Officer, Zachary Kobrin to General Counsel, and Aaron Lopez to Director Government Affairs effective March 15, 2021. Building out Trulieve's legal and human resources infrastructure and government affairs practice empowers the Company to meet growth more effectively. "Eric's leadership of our legal team has been instrumental in Trulieve's continued success. With the addition of Ronda, Zack and Aaron, we are ideally positioned to drive and support Trulieve's growth initiatives and execute on our national expansion strategy as one of the largest and most trusted cannabis brands," said Kim Rivers, CEO of Trulieve. "I look forward to working with our experienced and proven leadership team as we continue to deliver the quality cannabis products and exceptional customer service that Trulieve is renowned for."
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for Pure Extracts Technologies Corp. by Pure Extracts Technologies Corp. We own ZERO shares of Pure Extracts Technologies Corp. Please click here for full disclaimer.
Contact Information:
2818047972
ty@LifeWaterMedia.com