CBD-based Products Generating Significant Revenues in Robust Cannabis Industry

PALM BEACH, Florida, November 2, 2017 /PRNewswire/ --

Market research analysts are projecting the global CBD oil market to grow at a projected CAGR of 39.19% over the next four years, according to HTF Market Intelligence. There are an estimated 15 states that allow CBD based products only as compared to the 28 states plus DC that have legalized medical marijuana but the industry however is pointing to CBD Products are growing a rapid pace and becoming more and more popular with consumers. Hemp-derived cannabidiol (CBD) is projected to be a billion-dollar market in just three years, according to a new report by Brightfield Group. This high growth market continues to result in increased revenue levels, as well as the increasing variety of product offerings and innovation for the Marijuana/Cannabis industry and companies such as: PotNetwork Holding Inc. (OTC: POTN), SugarMade Inc. (OTC: SGMD), Vitality Biopharma Inc. (OTC: VBIO), Rocky Mountain High Brands Inc. (OTC: RMHB), Aphria Inc. (TSX: APH) (OTC: APHQF).

PotNetwork Holding Inc. (OTC: POTN) announced today that its wholly owned subsidiary, Diamond CBD, Inc., reported third quarter revenues of nearly $4.5 Million Dollars for the third quarter of fiscal 2017, realizing a net increase of 29% when compared to the second quarter's income of $3,183,161.00. Read this and more news for POTN at: http://www.marketnewsupdates.com/news/potn.html

"We are very pleased with this quarter's results and forge ahead into the fourth quarter with strengthened anticipation once again," excitedly stated Chief Executive Officer, Dr. Richard Goulding, MD.

PotNetwork recently announced that the Company had retained the auditing services of East West Accounting Services, LLC, a Public Company Accounting Oversight Board (PCAOB) registered CPA firm, to provide a methodical review and analysis for the audited verification of the Company's recent monthly reported revenues.

In other industry developments and market performances of note:

SugarMade Inc. (OTC: SGMD) closed up 100% on Wednesday with over 8.2 million shares traded by the market close. The company recently announced a realignment of its business direction and outlines negotiations currently underway to significantly expand its business operations within the fast growing cannabis sector. The Company had entered into late stage negotiations with two companies regarding possible acquisition or merger and has entered into other discussions with potential financing sources to facilitate these transactions. "We are especially excited because the cannabis-related acquisition will be highly accretive to share value for current holders of Sugarmade. With California legalization of cannabis only about 60 days away, we are very pleased to be expanding our operations in several different ways," commented Jimmy Chan, CEO of Sugarmade. "The successful completion of this acquisition will make Sugarmade one of the largest, if not the largest, publically traded supplier to the hype-growth cannabis sector. We have already begun to make an impact on the sector through the pending introduction of BudLife™, the world's first patented storage containers for long-term cannabis storage."

Vitality Biopharma Inc. (OTC: VBIO) closed up over 4% on Wednesday at $2.15 with over 300,000 shares traded by the market close. The company also announced completion of pivotal manufacturing agreements that enable the production of clinical-grade cannabinoid pharmaceuticals at its R&D facilities in California. In early 2017, after receiving approval from the U.S. DEA for its cannabinoid pharmaceutical research, Vitality contracted with a research services provider to obtain new software and protocols to support its internal manufacturing team and to ensure GMP manufacturing compliance. The Company has implemented these protocols for initial production of cannabosides, the company's cannabinoid prodrugs that are designed to target the gastrointestinal tract and thereby avoid the intoxicating side effects of THC.

Rocky Mountain High Brands Inc. (OTC: RMHB) closed Wednesday up over 2% with over 2 million shares traded on the day. Earlier in the week, the company announced John Blackington has joined the Company as its Chief Commercialization Officer.  In this role, Blackington will direct the Company's product development, marketing, sales, and customer service to drive business growth and market share. Mr. Blackington has over thirty years of experience, both as the owner of his own company and as a senior executive for several leading food and beverage companies, including The Coca-Cola Company. He has jumpstarted a number of successful new brands in critical areas ranging from building sales and distribution systems, expanding retail availability, developing equity strategies and sourcing capital.

Aphria Inc. (TSX: APH.TO) (OTC: APHQF) closed up Wednesday at $7.80 on the TSX exchange trading over 4.1 Millions shares by the market close and closed up at $6.06 on the OTC markets. Last week, the company announced  it completed its first shipment of cannabis oil to Australian medical life science company, Medlab Clinical Limited (ASX:MDC). The shipment is part of the previously announced agreement between Aphria and Medlab, in which Aphria will produce and supply high-yield cannabis extracts for Medlab to be used in its forthcoming human trial to test management of intractable pain in oncology patients - the first trial of its kind globally. The product formulation and permits have been approved by Health Canada and the Australian Therapeutic Goods Administration ("TGA"). "The first shipment of medical cannabis to Medlab is part of our global expansion strategy to take the Aphria story to other regulated countries like Australia and create additional revenue streams," says Vic Neufeld, Chief Executive Officer of Aphria.

DISCLAIMER: MarketNewsUpdates.com (MNU) is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. MNU is NOT affiliated in any manner with any company mentioned herein. MNU and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. MNU's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material.  All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. MNU is not liable for any investment decisions by its readers or subscribers.  Investors are cautioned that they may lose all or a portion of their investment when investing in stocks.  For current services performed MNU has been compensated forty-nine hundred dollars for news coverage of the current press release issued by PotNetwork Holding Inc by a non-affiliated third party. MNU HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and MNU undertakes no obligation to update such statements.

Contact Information:
Media Contact email:
[email protected]
+1(561)325-8757

SOURCE MarketNewsUpdates.com