NEW YORK, Feb. 20, 2019 /PRNewswire/ -- Marijuana has become a global medical phenomenon due to its therapeutic effects. Primarily, many countries are looking to legalize marijuana for medical applications as it is a suitable alternative to opioids. However, one of marijuana's derivatives, hemp, is becoming widely adopted, particularly in the U.S. Hemp has gained significant popularity among state officials and consumers after the passage of the recent U.S. Farm Bill. Even with the passage of the bill, hemp itself is still not entirely legalized, but it's derivative CBD, or cannabidiol, is fully legalized in almost every state. Hemp-derived CBD products are generally more accepted because they are the non-psychoactive cannabis-related products. Due to its therapeutic and relaxing effects, the U.S. Food and Drug Administration formally delisted CBD from the list of Schedule 1 drugs last year. In combination with the FDA's decision and the passage of the Farm Bill, the CBD market is positioned for tremendous growth. According to data compiled by Brightfield Group, the U.S. CBD market is expected to reach USD 22 Billion by 2022, outpacing the rest of the cannabis market combined. Weekend Unlimited Inc. (OTC: WKULF) (CSE: POT), Terra Tech Corp. (OTC: TRTC), Lifestyle Delivery Systems Inc. (OTC: LDSYF) (CSE: LDS), Future Farm Technologies Inc. (OTC: FFRMF) (CSE: FFT), mCig, Inc. (OTC: MCIG)
CBD has many versatile uses such as medical applications, health and wellness, beauty, and even pet treats. CBD also comes in many forms such as flowers, oils, creams, and tinctures. As the CBD industry continues to grow, new products like beverages and foods are emerging. Within medical applications, consumers are using CBD to treat conditions such as insomnia, pain, and anxiety. Recreationally, consumers are simply using CBD as a relaxation stimulant. "A few years ago almost no one knew what hemp-derived CBD was, it was sold by mostly small brands of tinctures online and through head shops. All of a sudden, CBD is everywhere - it is both a trendy, new ingredient in drinks, face creams and pet treats and an answer to the prayers of so many people suffering from medical conditions ranging from epilepsy to anxiety and chronic pain. It rides the waves of so many global food and health trends, as a substitute for opioids, towards more natural health alternatives and functional ingredients," said Bethany Gomez, Managing Director at Brightfield Group.
Weekend Unlimited Inc. (OTC: WKULF) (CSE: POT) also listed on the Canadian Securities Exchange under the ticker (CSE: POT). Yesterday the company announced breaking news that, "Northern Lights Supply in Nisku, Alberta has received its initial shipment from AGLC allowing it to set a grand opening date for February 23rd.
'Having received the store's initial order, we are currently stocking the shelves and conducting our final staff training and systems checks in order to hold our grand opening next week, on February 23rd,' said Northern Lights Supply President, Derek Shields.
- Northern Lights Supply will open with approximately $200,000 worth of inventory
- Weekly shipments are anticipated from AGLC to replenish stock and serve customers reliably
- 15 Northern Lights Supply staff have been hired and trained
- Community cannabis education and training seminars for local business organizations and the hospitality industry approved by AGLC to proceed
'Derek and his team have done a tremendous amount of work to reach this point and they have done so expediently. We are thrilled for the opening next week,' said Mr. Paul Chu, Weekend Unlimited President and CEO. 'The extent to which his team has worked productively with AGLC to emphasize the importance of cannabis education and outreach programs from Northern Lights Supply as it enters this new market is of paramount importance to our long-term plans as active members of the community,' added Mr. Chu.
Weekend has previously announced an arms-length agreement to acquire 49% of Northern Lights Supply. Northern Lights Supply houses 6500 sqft. of retail space and is located adjacent to the Edmonton International Airport, along Alberta's busiest corridor, serving the cities of Leduc and Beaumont.
About Weekend Unlimited Inc.: Weekend Unlimited is capitalizing on its vast industry relationships to establish a lifestyle brand featuring premium products and delivering life's highest moments. The company aggregates and scales small to medium brands, primarily in the categories of flower, extracts and edibles. Weekend Unlimited brands have best of class operations, distribution and strong revenue trajectories, making them ideal candidates for the deployment of capital and expertise through access to technologies, infrastructure and centralized systems. Learn more at www.weekendunlimited.com"
For our latest "Buzz on the Street" Show featuring Weekend Unlimited Inc. recent corporate news, please head over to: https://www.youtube.com/watch?v=VJVa_fFJQvA
Terra Tech Corp. (OTCQX: TRTC) operates through multiple subsidiary businesses including: Blüm, IVXX Inc., Edible Garden, and MediFarm LLC. Terra Tech Corp. recently announced that Mayor Pauline Cutter of San Leandro, CA spoke at Terra Tech's grand opening of its Blüm San Leandro medical cannabis dispensary. The ribbon cutting ceremony took place from 9:30 AM to 11:00 AM on January 11th, 2019 at the dispensary located at 1915 Fairway Drive San Leandro, CA, 94577. Terra Tech's Blum San Leandro dispensary made history as the first medical dispensary to open its doors in San Leandro, a prominent suburb city of San Francisco and Oakland, centered in the dynamic San Francisco Bay Area. With a vibrant community of more than 89,000 residents, San Leandro is known for its well-maintained neighborhoods, excellent public libraries, twenty-one public parks, quality local schools, and a wide range of shopping, dining, and entertainment options. The City also encompasses a large industrial area that is home to an advanced manufacturing industry. The Company is also constructing an extraction facility in San Leandro, which it expects to open in early 2019. Chief Executive Officer, Derek Peterson, said, "San Leandro will be a great location for Terra Tech's new medical cannabis dispensary as the city has proven to be an expanding hub of innovation and business. Having a dispensary up and running in San Leandro is the perfect way to start off 2019 by increasing Terra Tech's distribution channels in such a sought-after location. I will be speaking alongside Mayor Cutter at the event where I will touch upon the significance of this location and how it will help accelerate the growth of our company."
Lifestyle Delivery Systems Inc. (OTCQX: LDSYF) (CSE: LDS) is a technology company that licenses its technology to a state-of-the-art production and packaging facility located in Southern California. Lifestyle Delivery Systems Inc. recently announced that artwork has been finalized for the new CannaStrips™ packaging and has been delivered to the printer. LDS and its subsidiary, CSPA Group, Inc., have been struggling with the numerous changes to the state packaging regulations which were passed in the last fourteen months. The CannaStripsTM packaging was delayed by the continuous regulatory changes to packaging size, verbiage, warning, and informational placements. The State of California has stated that the most recent changes to the packaging guidelines will be effective until 2020. Those changes have been incorporated into what the Company hopes to be the final CannaStripsTM packaging artwork and reviewed by CSPA Group's distributors, Sacramento advisers and corporate and cannabis legal teams to ensure compliance with California law. There will be three different variations of CannaStripsTM to be printed. First is the THC 10mg version which will replace the product that is currently in stores. That packaging required stickers to incorporate the latest regulatory changes to keep the product compliant pending printing of the final packaging. CSPA Group is adding a CBD version with less than 2% THC and a version named 80/20 (80% CBD/20% THC). All versions of CannaStripsTM will have ten individual strips to a package.
Future Farm Technologies Inc. (OTCQB: FFRMF) (CSE: FFT) is a Canadian company with holdings throughout North America including California, Massachusetts, Florida, Maine, Puerto Rico and Newfoundland. Future Farm Technologies Inc. recently announced that it has entered into a new lease with Haymart, LLC to grow CBD-producing hemp on the same 100-acre parcel which the Company leased from Haymart for its inaugural 2018 season. The new lease covers the 2019 season and will also cover the 2020 and 2021 seasons, unless either the Company or Haymart opt out. Under the terms of the lease, Haymart will also provide farming services to Future Farm. Haymart has proven to be a key contributor to the success of Future Farm Maine and the Company is grateful for the willingness of Haymart to work creatively on the economic terms of the new lease. Future Farm and Haymart are also in discussions about working together in other aspects of the rapidly expanding market for CBD-producing hemp. "Now is the time to make the investments and secure additional licensing so that Future Farm can continue to build on our early success in Maine," says Zachary Lapan, manager of Future Farm Maine's cultivation and processing operations. "Haymart, the State of Maine and the farming community around us have always been very collaborative, and we will continue working with them to expand our current footprint."
mCig, Inc. (OTCQB: MCIG), headquartered in Jacksonville, Florida, is a diversified company servicing the legal cannabis, hemp, and CBD markets via its lifestyle brands. mCig, Inc. recently announced that its subsidiary, representing MCIG's expansion into providing supplies to growers, manufacturers, distributors, and retailers in cannabis, continues to see unparalleled growth and has once again exceeded its best quarterly sales ever. The highest quarterly sales since inception, with Revenues around USD 650,000, representing sales in Nevada and California, putting it on mark to exceed USD 2.5 Million in sales for the fiscal year ending April 30. "The management team of Cannabis Supply has been doing a great job to expend the business and achieve sales targets. We are winning business from other cannabis supply companies by offering our clients wide selection of quality products, competitive pricing and great customer service. We all see 2019 as a great year for our Cannabis Supply Division, " says Paul Rosenberg, Chief Executive Officer of MCIG.
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