NEW YORK, Oct. 9, 2019 /PRNewswire/ -- Over a dozen countries have legalized cannabis for medicinal purposes while others have decriminalized it, allowing for moderate personal consumption. Overall, as consumption spreads, communities become more aware of the various strains of the cannabis plant and the differences between them. Hemp, for example, is most commonly known as the derivative of the cannabis plant, and is one of the two main components found within the cannabis family. Compared to its counterpart, marijuana, the two are widely different in their biological makeup. Specifically, hemp's main active ingredient is CBD or cannabidiol, while marijuana's main compound is THC or tetrahydrocannabinol. THC is known to cause cerebral-altering effects on consumers, which is why marijuana is highly potent and illegal in most regions around the world. On the other hand, the hemp plant contains very minimal traces of THC, and an abundance of CBD. Generally, hemp contains less than 0.3% levels of THC, which is not enough to cause psychoactive effects. Nonetheless, CBD does provide therapeutic benefits, which many medical institutions have begun to leverage. Researchers have conducted thousands of studies to understand the efficacy of CBD, however, most studies are on a small-scale. As such, the U.S. Food and Drug Administration has explicitly noted that clinical trials must have over thousands of test subjects and deliver overwhelming positive results in order for CBD to be approved. Eventually, the FDA did pass Epidiolex, which is a CBD-based drug used to treat epilepsy. Moreover, other nations have approved the use of CBD to treat chronic conditions such as HIV/AIDS and multiple sclerosis. And now. the growing adoption of hemp-derived CBD products is ultimately driving the overall hemp industry as it continues to outpace the other segments. According to data compiled by Hemp Business Journal, a division of New Frontier Data, the total sales for the U.S. hemp industry totaled USD 820 Million in 2017. The research suggests that the industry is expected to grow to USD 1.9 Billion by 2022 and at a CAGR of 14.4% during the 5-year period. Newleaf Brands Inc. , HEXO Corp. /zigman2/quotes/206508254/composite HEXO +4.20% /zigman2/quotes/200008967/delayed CA:HEXO +3.26% , Cresco Labs Inc. /zigman2/quotes/200392306/delayed CRLBF +6.85% /zigman2/quotes/205276242/delayed CA:CL +6.89% , Acreage Holdings Inc. /zigman2/quotes/205165963/delayed ACRGF +1.37% , Sundial Growers Inc. /zigman2/quotes/213489825/composite SNDL -1.55%
The U.S. is primarily limited to the CBD industry since other aspects of the cannabis plant are still federally illegal. On the other hand, Canada has zero restrictions because it completely legalized cannabis in late 2018, joining Uruguay as the only two nations in the world to do so. Notably, during the first day of legalization, many dispensaries and online platforms experienced shortages throughout the country due to the massive amount of consumers looking to purchase cannabis products. In efforts to provide consumers with convenience and comfort, some businesses even launched delivery options where consumers can order online and then have cannabis products delivered right to their doors. Moving forward, industry experts believe that cannabis will continue to be integrated into mainstream retail as the next waves of legalization take hold. For instance, Canada's second legalization, which is expected to occur in late 2019, is focused on edibles and beverages. Furthermore, the third wave of legalization is primarily expected to be focused on a variety of products such as shampoos, lotions, and other skincare products. In particular, the third wave is expected to be heavily integrated into mainstream retail operations. "When you think about it, cannabis and e-commerce are a match made in heaven. If you're at home and looking to pick up some cannabis or cannabis-derived products, would you want to get dressed, trudge down the store, wait in line, and potentially have to talk to strangers to place an order? Or would you rather get your cannabis at the click of a button?" said Joresa Blount, Content Marketing Strategist at Early Growth Financial Services and former writer at Forbes. "As e-commerce continues to redefine retail, convenience will be the determining factor in cannabis consumer preferences."
Newleaf Brands Inc. is also listed on the Canadian Securities Exchange under the ticker . Today, the Company's wholly owned subsidiary, We Are Kured, LLC announced that, "its new CBD oil formulation, which contains high-end CBD distillate, flavorless hemp derived terpenes and flavored terpenes in Pineapple Express, Strawberry Diesel and OG Kush.
With the recent news of the harmful side-effects caused by vaping cutting agents, like MCT, VG, and Vitamin E, Kured has partnered with Floraplex Terpenes, LLC ("Floraplex") to provide a 100% plant based oil formulation. Floraplex is known throughout the industry as a leader in the hemp derived terpenes space for CBD vaporizer pens and cartridges.
Benjamin Martch, CEO Kured and CMO of NewLeaf commented, "With the recent studies coming out, our management team has decided to change our formulation to 100% plant derived oil. These hemp terpenes are flavorless and still keep the oil tasting great after adding our flavor terpenes that we source from Eybna based out of Israel. I feel great about this change in formulation to stay on the forefront of CBD industry."
ABOUT NewLeaf Brands: NewLeaf Brands, Inc. is an innovative Cannabidiol ("CBD") lifestyle Company. Through the Company's wholly-owned subsidiaries We are Kured, LLC, Drink Fresh Water, LLC, ReLyfe Brand, LLC and TeaLief Brand, LLC the Company's main business activities encompass the development, marketing, and distribution of CBD products (including vaporizer pens/cartridges, hot/cold tea, softgel capsules and beverages) throughout North America, South America, and Europe. In addition, NewLeaf Brands, Inc. has extensive retail and cultivation land investments in Oregon, USA."
For our latest "Buzz on the Street" Show featuring Newleaf Brands Inc. recent corporate news, please head over to: https://youtu.be/fZkXaFbCnr8
HEXO Corp. /zigman2/quotes/206508254/composite HEXO +4.20% /zigman2/quotes/200008967/delayed CA:HEXO +3.26% creates and distributes innovative, easy-to-use and easy-to-understand products to serve the Canadian cannabis market. HEXO Corp. and Molson Coors Canada (MCC), the Canadian business unit of Molson Coors Brewing Company recently announced that they had closed the transaction announced on August 1st, 2018, to form a joint venture to pursue opportunities to develop non-alcoholic, cannabis-infused beverages for the Canadian market following legalization. The joint venture, Truss, will be led by former Molson Coors executive, Brett Vye, in the role of Chief Executive Officer. Vye will report to the Truss board of directors consisting of three members appointed by MCC and two members appointed by HEXO. "With the backing of two partners with deep Canadian roots, proven success, and market-leading experience in the respective beverage and cannabis industries in Canada, Truss will hit the ground running," said Brett Vye, Chief Executive Officer at Truss. "When consumable cannabis is legalized in Canada, Truss will be ready to make its mark as a responsible leader in providing high-quality beverages for the Canadian consumer. Why "Truss"? We are joining together the extensive experience and excellent practices of each partner to build a powerful foundation for the future."
Cresco Labs Inc. (otcqx:CRLBF) /zigman2/quotes/205276242/delayed CA:CL +6.89% , based in Chicago, is a leading U.S. cannabis company with experienced management, access to capital and a demonstrated growth strategy. Cresco Labs Inc. recently announced that it has received regulatory approval for its acquisition of 100% of the membership interests of Gloucester Street Capital, LLC, the parent entity of Valley Agriceuticals, LLC via a merger between Gloucester and an indirect subsidiary of Cresco Labs. Valley Ag holds one of the 10 vertically integrated cannabis business licenses granted in the State of New York by the New York State Department of Health. Each license gives the operator the right to operate one cultivation facility and four dispensaries in New York. Valley Ag's license was recently renewed for a two-year period. The acquisition is expected to close by the end of August. "We are very pleased to take the next step in building the most strategic and valuable geographic footprint in the cannabis industry," said Charles Bachtell, Chief Executive Officer and Co-Founder of Cresco Labs. "As the holder of one of only 10 vertically integrated businesses licenses in New York, we believe that Cresco Labs will make a significant impact in this large and influential market that is projected to grow to USD 500 Million by 2022, according to Arcview/BDS Analytics. In virtually all consumer-related sectors and industries, New York is viewed as the most important market in the world, which made it a critical component of our strategic geographic expansion plan. Having the opportunity to establish Cresco Labs in New York will significantly advance our goal to build the first national brand in the cannabis industry."
Acreage Holdings Inc. (otcqx:ACRGF) , headquartered in New York City, is the largest vertically integrated, multi-state owner of cannabis licenses and assets in the U.S. with respect to the number of states with cannabis-related licenses, according to the publicly available information. Acreage Holdings, Inc. recently announced that on April 17th, its subsidiary, High Street Capital Partners, LLC entered into an agreement to acquire 100% of Deep Roots Medical LLC, a vertically integrated cannabis operator in Nevada, for a total deal value of USD 120 Million to be paid in common units and cash. Deep Roots marks Acreage's entry into Nevada, increasing the company's total state footprint to 20 (including pending acquisitions) - the largest in the US cannabis industry. With a population of three million, and tourism that attracts 43 million visitors per year, Nevada is estimated to generate nearly USD 800 Million in legal cannabis sales by 2022, according to Arcview Market Research. Kevin Murphy, Founder, Chairman, and Chief Executive Officer of Acreage Holdings, Inc., commented, "We continue to deliver on our shareholder commitments to aggressively expand our presence in the West. We could not be more excited for what we believe will become a leading operation in the state of Nevada, one of the most important states in the cannabis industry."
Sundial Growers Inc. /zigman2/quotes/213489825/composite SNDL -1.55% proudly crafts pioneering cannabis brands to Heal, Help and PlayTM. Sundial Growers Inc. recently announced that it had received amendments to its Standard Cultivation and Standard Processing licenses from Health Canada for an additional 115,000 sq. ft. of cannabis cultivation at its flagship facility in Olds, Alberta. The newly licensed space includes 34 additional purpose-built modular rooms for the cultivation of premium cannabis, almost doubling the total number of flowering rooms to 74 in Olds. "Our master growers and expert staff have successfully completed more than 150 harvests. We are very excited about the premium quality and industry leading yields our state-of-the-art facility in Olds is producing," said Torsten Kuenzlen, Chief Executive Officer of Sundial. "The additional flowering rooms will further accelerate our production capacity, allowing us to expand into more provinces and provide our high-quality cannabis to a wider consumer base."
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