Mar 31, 2020 (Stock Market Press via COMTEX) -- Todd Davis, CEO and Chairman of CBD Unlimited, Inc. (OTC PINK: EDXC) described 2020 in the CBD industry as a 'shakeout year' predicting the strength of stronger CBD companies in the competitive landscape for survival. In a recent interview at Nasdaq MarketSite in Times Square, New York, prior to the global coronavirus pandemic, Davis described the growth domestically and internationally for the company and its aggressive goals for mass market shelf presence.
The CBD market has drawn intense interest from media companies. stockmarketpress.com features specialized coverage of CBD related stocks such as CBD Unlimited, Inc. (OTC PINK: EDXC), Canopy Growth Corp. (NYSE: CGC), New Age Beverages Corp. (NASDAQ: NBEV), GW Pharmaceuticals PLC (NASDAQ: GWPH), Neptune Wellness Solutions Inc. (NASDAQ: NEPT) (TSX: NEPT). Aurora Cannabis Inc. (NYSE:ACB) (TSX: ACB), Supreme Cannabis Co. (OTC:SPRWF) and OrganiGram Holdings Inc. (NASDAQ: OGI).
CBD Unlimited, Inc.'s (OTC PINK: EDXC) Todd Davis Projects 2020 As A CBD 'Shakeout Year'
Davis discussed the mass market shelf goal of CBD Unlimited, Inc. (OTC PINK: EDXC) and achievement last year of reaching some 5,600 mass market shelves. Long term, he said, the company is seeking to place its CBD product onto some 20,000 retail shelves.
He said that last year, in 2019, the company had many independent retail customers -- mom and pop outlets. In 2020, he said, the company grew to place on mass market retailer shelves, with a primary customer, Walgreen's. even before the coronavirus pandemic impacted all sales, he predicted correctly the changes in the CBD landscape this year -- the 'shakeout' of smaller operators -- and the growth of larger players. CBD Unlimited, Inc.'s (OTC PINK: EDXC) Todd Davis Projects 2020 As A CBD 'Shakeout Year'.
He was right about the change in the industry as consolidation in M&A impacts the CBD landscape. Yesterday (March 23, 2020) Charlotte's Web /zigman2/quotes/212650907/delayed CA:CWEB -4.76% (otcqx:CWBHF), marketer of hemp-derived CBD products, announced it will acquire Abacus Health Products, Inc.,(CSE:ABCS) ()), a leader in OTC hemp extract topicals, in a stock deal with an implied value of C$99 Million. A conference call on the transaction will be held this morning, available on Charlotte's Web website. Together, these companies will have a 35% CBD market share in the food, drug, pharmacy and mass merchant channels.
Davis of CBD Unlimited, Inc. (OTC PINK: EDXC) saw early the future of CBD omni channel marketing and the benefits of marketing to mass merchants as CBD grew into a quick-selling product classification. CBD Unlimited, Inc.'s (OTC PINK: EDXC) Todd Davis Projects 2020 As A CBD 'Shakeout Year'.
Davis of CBD Unlimited, Inc. (OTC PINK: EDXC) Documents Growth
CBD Unlimited (otc pink:EDXC) had a significant growth performance in 2019, he said. It reported a 101% annual increase in revenues and surpassed its goal of placement in 5,000 stores by three months, it said. It added that it is on track to continue its upward growth trajectory and surpass year-over-year guidance and goals.
CBD Unlimited, Inc. (OTC PINK: EDXC) achieved a lot in 2019. It recorded an 88% boost in sales for the 12 months ended December 31, 2019 compared to the previous year. Not only does it have aggressive international expansion plans for the future, it has achieved its goal of winning shelf space in greater than 5,000 mass retailers. Its product is located in big box stores, pharmacies, convenience stores and even bodegas. In wellness centers, it even has branded product in self-service CBD kiosks. CBD Unlimited, Inc.'s (OTC PINK: EDXC) Todd Davis Projects 2020 As A CBD 'Shakeout Year'.
Davis Also Discussed The Company's International Expansion.
In the NASDAQ interview, Davis talked about the company's international growth. He detailed CBD Unlimited's (otc pink:EDXC) role in Puerto Rico, Guam, Jamaica and other future. locations
CBD Unlimited (otc pink:EDXC) develops and distributes all-natural CBD products derived from hemp. Its portfolio of products includes oils, capsules, topical and pet products. Phyto-Bites are soft chews for animal use designed to reduce inflammation, pain and separation-anxiety. It also has CBD products formulated for humans. The company's CBD hemp product has premium genetics and superior quality. The extracts in its products are rich in phyto-cannabinoids and terpenoids that are non-psychoactive.
CBD Unlimited, Inc. (OTC PINK: EDXC) ensures that its CBD product is monitored every step of the way: from U.S. hemp growing, processing and marketing. The consumer can be confident of the brand and investors in the company can be assured of its attention to controlling product quality, producing CBD products from hemp sourced and grown in Colorado and Kentucky under USDA and state regulations.
Source: Stock Market Press
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