Cannabis Industry Surging as Hemp-Based CBD Products Generating Millions in Revenues

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Jul 31, 2018, 08:40 ET

PALM BEACH, Florida, July 31, 2018 /PRNewswire/ --

MarketNewsUpdates.com News Commentary

The cannabis market continues its run as a high-growth industry space as a report by ArcView Market Research projects that seven states will see north of $1 billion in cannabis revenues within the next four years. The overall cannabis industry is already a multi-billion dollar sector, but the growth at the ground and state level is becoming more apparent as the market matures and new opportunities develop. One of the more prominent opportunities is that of hemp-based CBD products, as active cannabis companies continue to diversify product offerings and target new markets. As demand rises, leaders in this space are anticipating potential growing pains but expanding operations to enhance production and meet demand without issue. Active companies in the markets this week include C21 Investments Inc. (CSE:CXXI), Aphria Inc. (TSX:APH) (OTC:APHQF), Newstrike Resources Ltd. (TSX-V:HIP) (OTC:NWKRF), Aurora Cannabis Inc. (TSX:ACB) (OTC:ACBFF), ABcann Global Corporation (TSX-V:ABCN) (OTC:ABCCF).

C21 Investments Inc. (CSE:CXXI) BREAKING NEWS : C21 Investments continues to build a strong management team with the appointment of Randy Torcom as Vice President of Marketing. C21 Investments is highly focused on building and acquiring market leading marijuana brands. C21's vertical integration is important for maintaining high margins, however, brand building is the future of the industry. The addition of Torcom to the C21 team, with his marketing and branding experience, is instrumental to the execution of the Company's brand building mission.

"Brand integrity and authenticity are critical for success in the cannabis industry," said Torcom. "C21 Investments is committed to a strong national and international brand strategy that delivers a compelling proposition of high-quality products, with life-style and value delivery that consumers can have a deep and meaningful connection with that will stand the test of time."

Torcom has more than 18 years' experience crafting innovative strategies to introduce new product lines while enhancing brand identity and consumer perception. Randy's most recent experience includes his role as Vice-President of Brand Marketing at Burton Snowboards, where he owned the brand voice and drove competitive market positioning across multiple channels. Additionally, Torcom oversaw the visual retail strategy, ensuring a premium aesthetic and elevated customer experience globally across all brick and mortar locations. Torcom will be responsible for C21 Investments products worldwide and will be based in the Company's Oregon operations. His appointment is effective immediately.

"Randy is an accomplished leader with multi-faceted creative talents and a proven track record of achieving impressive branding milestones," said Robert Cheney, President and Chief Executive Officer, C21 Investments. "His fresh perspective will be invaluable as C21 Investments continues to add new brands and products through our aggressive acquisition strategy." Read this and more news for C21 Investments at http://www.marketnewsupdates.com/news/cxxi.html

Other recent developments in the cannabis industry include:

Aphria Inc. (TSX:APH) (OTCQB:APHQF) recently completed its largest international shipment of cannabis oil to date to Australian medical life science company, Medlab Clinical Ltd. The shipment is part of the previously announced agreement between Aphria and Medlab in which Aphria produces and supplies high-yield cannabis extracts for Medlab to be used in a human trial to test the management of intractable pain in oncology patients -- the first trial of its kind globally. For the purposes of the clinical trial, Aphria has provided a high-CBD cannabis oil and a high-THC cannabis oil, both of which were designed specifically for Medlab. Once at Medlab, the products are then combined with Medlab's patented medicine delivery system, NanoCelle. Medlab's clinical trial is posited to provide an effective and efficacious pain therapy targeted to advanced cancer pain, that rivals standard opioid use. The product formulation, manufacturing and final product validation have met the TGO93 standard set by the Australian Therapeutic Goods Administration (TGA) and permits have been approved by Health Canada.

Newstrike Resources Ltd.'s (TSX-V:HIP) (OTCPK:NWKRF) wholly owned subsidiary, Up Cannabis Inc., has signed a memorandum of understanding with the British Columbia Liquor Distribution Branch (BCLDB) that will see a variety of Up Cannabis product sold through a BCLDB-approved strategic retail partners and locations. "This agreement is yet another significant achievement for Newstrike and a critical step in our strategy to position Up Cannabis as the preferred Canadian adult-use brand," said Jay Wilgar, chief executive officer of Newstrike and Up Cannabis. "British Columbia is a very important market for Up Cannabis, and we are proud to supply the BCLDB with quality cannabis that will drive our sales and revenue."

Aurora Cannabis Inc. (TSX:ACB) (OTCQX:ACBFF) has obtained a Health Canada dealer's licence under the Controlled Drugs and Substances Act for its European Union good manufacturing practices certified Aurora Mountain facility in Alberta. The new licence will allow Aurora additional opportunities to produce, assemble, and sell cannabis oils and future novel, derivative products from Aurora Mountain, Furthermore, the licence provides additional opportunities to transport cannabis products for import from and export to international markets, subject to applicable regulations. "Aurora Mountain is our third facility to be granted a dealer's licence by Health Canada, and this milestone is fundamental to bolstering our supply chain across Canada and around the world," said Terry Booth, chief executive officer of Aurora. "Being able to more freely transport and export cannabis oils, derivatives and concentrates allows us to develop new products that respond to market demand in a variety of regulatory frameworks in different countries."

Building on its industry-leading technology and proven results, ABcann Global Corporation (TSX-V:ABCN) (OTCQB:ABCCF) recently announced the introduction of FIRESIDE, its first recreational cannabis brand. "Legalization will bring a wide variety of different consumers to cannabis, and many will want a high-quality product without having to be an expert at choosing between strains. That's why we created FIRESIDE - it's a premium brand for those who want great products that are easy to understand. To ensure a superior quality experience, FIRESIDE cannabis will be grown in small batches in craft-like conditions," says Sung Kang, Chief Marketing Officer. "As well, our special long-curing process means a smoother final product.".

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