PALM BEACH, Florida, Oct. 29, 2019 /PRNewswire/ -- CBD is quickly becoming one of the most widely searched terms on Google, leading many to believe the cannabis boom is just getting underway. In fact, "CBD has become insanely popular," said Dr. John W. Ayers, vice chief of innovation at the University of California, San Diego's Division of Infectious Disease and Global Public Health, as quoted by MarketWatch. "Three years ago, there was essentially no one searching about CBD online, but now there are an estimated 6.4 million unique searches each month." That's leading to a wide range of opportunity for companies including Veritas Farms Inc. (OTCQB:VFRM), Green Growth Brands Inc.(CSE:GGB)(OTCQB:GGBXF), Curaleaf Holdings Inc. (CSE:CURA) (OTCQX:CURLF), Aurora Cannabis Inc. (NYSE:ACB)(TSX:ACB), and Cronos Group Inc. (NASDAQ:CRON).
Veritas Farms Inc. (OTCQB:VFRM) BREAKING NEWS: Veritas Farms Inc. just announced that the company is sponsoring the 2019 Malibu Marathon. As a part of the sponsorship, The Company will be included in all media and promotional campaigns and will have a large booth and multiple activations at both The Malibu Health & Fitness Expo on Saturday, November 2nd and at The Malibu Half Marathon and Beach Festival on Sunday, November 3rd at Zuma Beach in Malibu, California. The Company's tented booth is located near the finish line at the entrance to the festival. From this location, the Company will be sampling its complete line of full spectrum hemp oil products and incorporating them into various activations. Throughout the weekend, runners, their guests and other event attendees will be able to participate in and enjoy free full spectrum hemp oil massages, guided meditations, CBD Yin Yoga sessions, Acro-Yoga demonstrations and educational discussions on full spectrum hemp oil and the hemp industry. Derek Thomas, Vice President of Business Development, commented "We are excited to sponsor the Malibu Marathon. California is a major market for Veritas Farms, and this is a effective opportunity to engage with, educate and sample one of our core target demographics."
Other cannabis-related developments from around the markets include:
Green Growth Brands Inc. (CSE:GGB)(OTCQB:GGBXF) just announced that it has opened its 150th Seventh Sense Botanical Therapy CBD mall-based shop. The first Seventh Sense shop opened in early February. GGB will provide a sales update on the performance of Seventh Sense® shops and eCommerce on its earnings call for fourth quarter and fiscal year 2019 ended June 30. The call will occur on Thursday, October 24th, 2019. In the interim, the Company would like to share a progress update on the expansion of Seventh Sense.
Curaleaf Holdings Inc. (CSE:CURA)(OTCQX:CURLF) announced that on Friday, September 27, 2019 Executive Chairman Boris Jordan purchased 100,000 shares of Curaleaf stock on the open market at an average price of $8.21 per share. Executive Chairman Boris Jordan commented, "This is an exciting time for Curaleaf and our industry, and I have never been more confident in our future. Curaleaf is well positioned for long-term growth and profitability. Our industry is on the brink of tremendous growth, especially as lawmakers on both sides of the aisle are recognizing the need to advance regulation like the SAFE Banking Act. Curaleaf is in the best position to lead this industry and create value for shareholders for the long-term."
Aurora Cannabis Inc. (NYSE:ACB)(TSX:ACB) announced plans for the roll-out of vapes, concentrates, and edibles when they are permitted for sale to consumers in December. The Company has prioritized its resources to prepare for a successful initial launch that will support an ongoing replenishment strategy to help ensure consumers across Canada will have access to a diverse portfolio of high-quality derivative products they want to buy. "Aurora's Product Development and Insights teams have done tremendous work to formulate new products in a variety of formats that we think will exceed consumer expectations and drive category growth," said Aurora CEO Terry Booth. "Aurora has built industry-leading cannabis capacity and scalability supported by our consumer research and retail distribution bench strength to launch this next generation of cannabis products into the Canadian market. We are ready to ship product as soon as the regulations allow and are excited for consumers and patients to finally have access to a greater selection of product forms. We are already working on expanding the range of new products beyond those that will initially launch."
Cronos Group Inc. (NASDAQ:CRON) noted the separately announced closing of the AUD$20 million initial public offering of Cronos Australia Limited. Under the offering, Cronos Australia issued 40 million new shares at an offering price of AUD$0.50 per share (the "Cronos Australia IPO"). Cronos Australia expects to start trading on the Australian Securities Exchange on a deferred settlement basis on November 7, 2019.
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