NEW YORK, April 20, 2017 /PRNewswire/ --
According to a report published by Grand View Research, Inc. the global medical cannabis market is expected to reach a value of USD 55.8 billion by 2025. The projection is largely based on the success the industry has made in recent years. By the end of 2016, Washington D.C., along with 28 states chose to legalize cannabis for medical uses. In 2016, states such as Arkansas, Florida, North Dakota, Ohio, and Pennsylvania passed legislations for legalizing the use of cannabis for medical purposes such as chemotherapies and pain management. The growing number of states and countries around the world, where the industry is gaining popularity, is getting legalized is one of the crucial factors driving the demand over the coming few years. Naturally Splendid Enterprises Ltd. (OTC: NSPDF) (TSX-V: NSP), Vitality Biopharma, Inc. (OTC: VBIO), Mentor Capital, Inc. (OTC: MNTR), Mountain High Acquisitions Corp. (OTC: MYHI), GB Sciences, Inc. (OTC: GBLX)
A major share of the legal cannabis is based on Cannabidiol (CBD) products. This is the part of the cannabis plant that is typically used for health reasons and not for recreational purposes. The Hemp Business Journal estimates that the CBD market will grow to a $2.1 billion market in consumer sales by 2020 with $450 million of those sales coming from hemp-based sources. That's a 700% increase from 2016. Forbes reported, that in 2015, the market for consumer sales of hemp-derived CBD products was $90 million, plus another $112 million in marijuana-derived CBD products which were sold through dispensaries - bringing a total CBD market to $202 million last year.
Naturally Splendid Enterprises Ltd. (OTCQB: NSPDF) (TSX-V: NSP) earlier this morning it was announced, "They have begun shipments of bulk hemp seeds to South Korea with the first container having left Vancouver on April 14, 2017. Additionally, the Company has entered into an Exclusive Sales Agreement with Laguna Blends to market and distribute a complete line of CBD formulated, cosmeteutical products that will be launched at Seoul Food & Hotel 2017 where the Company is an official delegate in the Canadian Pavilion."
Naturally Splendid CEO, Mr. Dave Eto states, "We are pleased to be resuming shipments of bulk hemp seed to South Korea. The Company had robust export sales in the first two quarters of 2016 before encountering a production interruption in Q3. I am pleased to report, the production issues have been resolved and we will be looking to re-establish our presence for bulk hemp products into South Korea with this shipment being evidence of that. Additionally, I am pleased to announce an Exclusive Sales Agreement with Laguna Blends to market and distribute a CBD formulated cosmeceutical line. These additional CBD formulated products will augment the CBD formulated products Naturally Splendid launched at FOODEX JAPAN this past March. Naturally Splendid President, Mr. Craig Goodwin will be meeting with our clients to discuss further business opportunities as well as seeking new business opportunities while attending the Seoul Food & Hotel tradeshow".
The Company will be launching the entire roster of CBD formulated products at Seoul Food & Hotel 2017 May 15-19. In addition, the Company will be presenting HempOmega™, bulk hemp seeds, a Korean branded NATERA® hemp seed line, as well as an array of formulated powdered fruit and vegetable ingredients."
Exclusive Sales Agreement - The details of the Exclusive Sales Agreement with Laguna Blends is as follows. Naturally Splendid's wholly owned U.S. subsidiary has signed an exclusive sales agreement with Laguna Blends for a complete suite of CBD formulated cosmeceutical products. The product line is comprised of seven custom formulated, CBD infused products that include anti-aging formulations. The Exclusive Sales Agreement is for a term of three (3) years, provided Naturally Splendid reaches certain cumulative sales volumes, and covers the territories of Japan and South Korea, as well as additional countries. The additional countries will be announced on a timely basis as the strategic marketing plan is implemented to cover these multiple territories.
Vitality Biopharma, Inc. (OTCQB: VBIO) is dedicated to unlocking the power of cannabinoids for the treatment of serious neurological and inflammatory disorders. On March 30th, 2017, the company announced that it has positive results indicating a new use for the Company's proprietary prodrug cannabinoid delivery platform. The company found that cannabidiol (CBD) universally inhibited cell growth at concentrations similar to established chemotherapeutics. Vitality also found that its cannabidiol prodrug was not toxic to the human cells at the concentrations tested, demonstrating the relative safety of its prodrug delivery system.
Mentor Capital, Inc. (OTCQB: MNTR) is a public operating company that acquires and provides liquidity for medical and social use cannabis companies. Recently, the company announced it has initiated funding for its GlauCanna venture for the use of medical marijuana in the treatment of glaucoma patients. Mentor will provide funding and business management for any commercial development and holds an 80% interest. "One of GlauCanna's first steps will be the completion of its dose response curve study which Mentor Capital is now funding," said Chet Billingsley, CEO Mentor Capital.
Mountain High Acquisitions Corp. (OTCQB: MYHI) is a holding company focused on the commercial hemp and CBD products industries. The company's first acquisition in this sector is GreenLife BotaniX, Inc. GreenLife is focused on the development and sale of products containing and featuring non-psychoactive CBD (cannabidiol) derived from hemp oil and sold under the retail brand name 'SuperCBD'. GreenLife currently features over a dozen CBD-based products on its e-commerce website, including four primary flagship products; 'Super CBD Drops' - a high-potency vanilla flavored vegan hemp oil tincture, 'Super CBD Lotion' - a CBD lotion made with a unique blend of CBD, eucalyptus oil, and vitamins and minerals, 'Super CBD Lip Balm' - a medicated ointment intended for a variety of skin problems, cuts and rashes, and 'Super CBD Pills' - a concentrated CBD dose in pill form for easy ingestion.
GB Sciences, Inc. (OTCQB: GBLX) is a diverse cannabis company, focused on standardized cultivation and production methods; as well as biopharmaceutical research and development. Recently, GB Sciences and Arizona-based Kush Cups signed an agreement to produce cannabis-infused products in the state of Nevada. GB Sciences utilizes advanced propagation technology, raw tissue, and grows in medical-grade clean rooms, so that the venture is ensured of consistent cannabis ingredients for its infused products. The company will grow the cannabis in their state-of-the-art Cultivation Labs facility in Las Vegas and distribute cannabis-infused Keurig-compatible K-Cups, hot and cold brew coffees as well as infused teas.
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