NEW YORK, Oct. 29, 2019 /PRNewswire/ -- Canada made headlines in 2018 after it became the second country in the world to completely legalize adult cannabis use. The country's Prime Minister Justin Trudeau was a strong advocate for legalization and ultimately, the country decided to pass new legislation and initiate legal adult-use in late 2018. However, despite Canada's legal market, the enormous U.S. market continues to cast a cloud over its northern neighbor, even though the U.S. has not yet moved to federally legalize cannabis. Instead, the U.S. government has granted states the jurisdiction to legalize cannabis for either medical or recreational purposes. And as of June 2019, 33 states and the District of Columbia allowed the use of cannabis for medical applications. Moreover, 11 of those states, including the District of Columbia have legalized adult recreational use. Overall, the U.S. is the primary global market driver because of its early adoption, dating back to the late 1990s when states such as California, Oregon, Alaska, and Washington were the first to implement a medicinal cannabis program. However, the industry was completely reshaped when Colorado and Washington legalized recreational cannabis in 2014. However, despite Colorado and Washington's efforts, the topic of adult-use legalization is still dubious among world political leaders. Nonetheless, a handful of countries have decided to legalize medical cannabis. Specifically, most countries are using CBD-based products in their medical programs. CBD or cannabidiol is a chemical compound found within the hemp plant, which falls under the cannabis family. Regulators are more inclined to approve CBD because it does not cause any dependency or stimulate psychotropic effects, unlike THC. As a result, CBD is having prominent impact on global markets as regulators move to use it as an alternative to traditionally prescribed medications. According to data compiled by MarketsandMarkets, the global cannabis market was valued at USD 10.3 Billion in 2018. By 2023, the market is expected to reach USD 39.4 Billion while exhibiting a CAGR of 30.7% during the forecast period. Newleaf Brands Inc. /zigman2/quotes/200697398/delayed NLBIF -6.05% /zigman2/quotes/203737825/delayed CA:NLB -11.54% , General Cannabis Corp. /zigman2/quotes/200317278/delayed CANN +1.47% , The Supreme Cannabis Company, Inc. /zigman2/quotes/203819708/delayed SPRWF +8.27% /zigman2/quotes/209645734/delayed CA:FIRE +9.09% , Auxly Cannabis Group Inc. /zigman2/quotes/205690863/delayed CBWTF +0.16% /zigman2/quotes/201017685/delayed CA:XLY +1.37% , Aleafia Health Inc. /zigman2/quotes/203485112/delayed ALEAF +5.96% /zigman2/quotes/200214885/delayed CA:ALEF +9.52%
After the U.S. passed the Farm Bill in 2018, hemp-derived CBD products became the craze among consumers. Promptly, many companies decided to launch hemp grow houses throughout the country. Notably, hemp can be used for multiple purposes, including industrial manufacturing applications. However, nowadays, hemp is primarily associated with CBD-based health and wellness products. Typically, the hemp plant contains less than 0.3% THC, which is not enough to cause psychoactive effects. On the other hand, THC-dominant strains can pack as much as 30% or higher THC levels. And according to Marijuana Break, in 2018, estimates indicated that the average THC levels in strains were approximately 15%. In comparison, one of the highest CBD plants is Cannatonic, a strain with up to 12% CBD. However, Marijuana Break noted that your chances of successfully growing a high-CBD plant from a Cannatonic seed are less than 75%. Additionally, there is no way to produce more CBD content than the amount a plant genetically contains. Yet, cultivators can achieve high-CBD strains by selecting an ideal seed and treating it with optimal growing conditions. Generally, factors such as warm soil temperature, warm air temperature, and lower levels of water can potentially allow plants to unlock its full CBD capability. Moreover, positive general care and harvesting at a specific time can also result in higher CBD levels. The higher CBD content can then more effectively alleviate medical symptoms such as chronic pain, depression, stress, anxiety, and insomnia. And now, doctors throughout the U.S. are beginning to prescribe patients with CBD to treat their ailments. "It's everything people believe to be good about marijuana. Without the downside of getting stoned," said Bethany Gomez, Managing Director at Brightfield Group. "I've been doing market research for years and covered everything. This is definitely the craziest market I've ever covered."
Newleaf Brands Inc. /zigman2/quotes/200697398/delayed NLBIF -6.05% /zigman2/quotes/203737825/delayed CA:NLB -11.54% is also listed on the Canadian Securities Exchange under the ticker /zigman2/quotes/203737825/delayed CA:NLB -11.54% . Yesterday, the Company and its wholly owned subsidiaries, We Are Kured, LLC ("Kured") and ReLyfe Brand, LLC ("ReLyfe") announced that, "the Company has entered into an agreement (the "Agreement") with Herbfluence, Inc. ("Herbfluence"). Under the terms of the Agreement, Herbfluence has selected two of the Company's CBD branded products to be included in the initial launch of the Herbfluence marketing platform on Monday, October 28, 2019. Herbfluence is an influencer marketplace for the Cannabis Industry. It is a smarter, simpler approach to advertising cannabis brands through social media influencers.
Tyler Knight, Founder and CEO of Herbfluence states, 'Having worked in the cannabis industry as a Marketing Executive for over six years, I have experienced numerous problems marketing cannabis and CBD companies online. Our team developed a streamlined online platform that truly allows CBD, cannabis and ancillary companies to seamlessly find, connect, and communicate directly with social influencers in our industry. The platform will prove to successfully advertise brands online to their desired target market and will receive full analytical data on the marketing campaigns, without the barriers caused by typical digital advertising platforms. As a firm believer in NewLeaf Brands' CBD products, we are confident that we can provide an advertising service through our social influencers that will greatly increase product sales and brand awareness for NewLeaf Brands as a leader in the CBD industry.'
As many social media platforms restrict paid cannabis and CBD advertising, Herbfluence has developed a marketing platform where the cannabis and CBD brands can communicate with social media influencers to negotiate online promotions. Herbfluence currently has hundreds of social media influencers, whom have over 20,000,000+ followers on Instagram online.
"After meeting Tyler Knight, I immediately wanted to get our CBD brands involved. I have been in the cannabis and CBD industry for over seven years now, and I know how hard it is to market CBD and cannabis brands online. The Herbfluence platform is truly an industry game-changer, and I couldn't be more excited about the opportunity to work with Tyler and the Herbfluence team," said Benjamin Martch, CMO of NewLeaf Brands.
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."
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General Cannabis Corp. (otcqx:CANN) is the comprehensive national resource for the highest quality service providers available to the regulated cannabis industry. General Cannabis Corp recently announced that it had entered into a non-binding term sheet to acquire substantially all of the assets of a licensed recreational cannabis retailer in Boulder, Colorado. "We are pleased to announce our plans to acquire a fourth licensed Colorado cannabis operator," said Michael Feinsod, Executive Chairman and Chief Executive Officer of General Cannabis. "This planned acquisition would expand our retail business to Boulder. The Business we plan to acquire would provide another strong piece to our expansion strategy. This facility would pair us with a premier retailer and expand our customer base, allowing us to leverage our skill set as HB-1090 is implemented. We look forward to completing the transaction and integrating this facility, and its employee team, into the General Cannabis family. This acquisition would bring our anticipated cultivation space to approximately 45,000 sq. ft., our anticipated owned dispensaries to three, and one infused products manufacturer license within the state of Colorado.
The Supreme Cannabis Company, Inc. (otcqx:SPRWF) /zigman2/quotes/209645734/delayed CA:FIRE +9.09% is a global diversified portfolio of distinct cannabis companies, products and brands. The Supreme Cannabis Company, Inc. recently announced that Blissco Cannabis Corp., Supreme Cannabis' premium wellness brand and a multi-licensed processor and distributor, had received licensing approval from Health Canada for the sale of cannabis oils from its facility in Langley, British Columbia. The cannabis oil sales license granted by Health Canada allows Blissco to sell full spectrum cannabidiol (CBD) oil products. As previously announced, Supreme Cannabis closed its acquisition of Blissco in the first quarter of fiscal 2020. The Company has since integrated, focused and advanced Blissco's business, initiating construction on a large-scale ethanol based extraction lab to expand upon Blissco's existing CO2-based extraction capability. By the end of calendar year 2019, Supreme Cannabis expects that the Facility will have the capacity to produce over 7,000,000 tincture bottles annually. Supreme Cannabis also expects the Blissco brand to meaningfully contribute to projected revenue in fiscal 2020. "With the receipt of the License and expanded extraction capacity, Blissco will be positioned to address the growing unmet demand for high-quality CBD oil products across Canada," said Navdeep Dhaliwal, Chief Executive Officer of Supreme Cannabis. "Blissco's legacy of premium whole flower products established a brand that represents quality and authenticity to wellness consumers. For over a year, Blissco's team developed advanced oil processing and formulation capabilities based on the same ethos. Consumers will soon be able to experience high-quality CBD oil products from a premium wellness brand they have come to trust. The team at Blissco has developed sophisticated expertise and diligently executed against ambitious business objectives, their hard work and vision has led to this significant milestone."
Auxly Cannabis Group Inc. (otcqx:CBWTF) /zigman2/quotes/201017685/delayed CA:XLY +1.37% is an international cannabis company dedicated to bringing innovative, effective, and high-quality cannabis products to the medical, wellness and adult-use markets. Auxly Cannabis Group Inc. recently announced that its wholly-owned subsidiaries, Dosecann Inc. and Kolab Project Inc. had both been authorized by Health Canada to sell cannabis oil under the Cannabis Regulations. The issuance of these sales licenses marks a significant milestone for Auxly in furthering its strategy to deliver branded derivative cannabis products to market when such products become legal later this year. The licenses enable each of Dosecann and Kolab to commence initial sales of cannabis oil products to provincial and territorial purchasers; through Kolab's flagship retail store in Saskatchewan. Hugo Alves, Chief Executive Officer of Auxly, commented: "These sales licences are key regulatory milestone for Auxly in executing our business plan of launching derivative products later this year. I applaud the tremendous efforts of our teams at Kolab, Dosecann and Auxly's regulatory affairs department in securing these critical licences. We are firmly on track for our broader derivative product launch and look forward to bringing our portfolio of innovative derivative products to Canadian consumers later this year."
Aleafia Health Inc. (otcqx:ALEAF) /zigman2/quotes/200214885/delayed CA:ALEF +9.52% is a leading, vertically integrated cannabis health and wellness company with four primary business units: Cannabis Cultivation & Products, Health & Wellness Clinics, Cannabis Education, and Consumer Experience with ecommerce, retail distribution and provincial supply agreements. Recently, Aleafia Health Inc. had been granted approval by Health Canada for outdoor cannabis cultivation. On June 7th, 2019, the Company's wholly-owned subsidiary Aleafia Farms Inc. was granted a new Standard Cultivation License issued under Health Canada's Cannabis Regulations at the Company's Port Perry facility. "Our promise made last year to cultivate outdoors in 2019 is now a reality," said Aleafia Health Chairman Julian Fantino. "We will continue to lead the way in low-cost production. This milestone exponentially increases our total cultivation footprint while securing product supply for our medical cannabis patient base."
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