PALM BEACH, Florida, May 11, 2020 /PRNewswire/ -- The CBD market surge in the last few years has been well documented and all reports seem to project continued growth of revenues over the coming years. CNN said, "These hemp farmers are getting rich with CBD." For farmers, growing hemp is a booming business. And it's much more profitable than growing corn or soybeans. In the U.S., sales could surge… from $591 million last year . . . to $22 billion within just three years." An article from Wyatt Research added: "Today, CBD is getting most of the attention. For growers, the next generation of hemp will be even more profitable. It's called CBG. It's the precursor cannabinoid to both CBD and THC. And it's currently being researched for a wide range of uses including psoriasis, eczema and as a cosmetic additive. CBG is essentially the next type of cannabinoid that will be researched, developed and put into thousands of mainstream products. The article continued projecting that hemp growers will be getting into CBG: "Today, production of CBG is very low. And that means prices for CBG are five times higher than CBD! Consider these numbers: One acre of farmland planted for CBD will generate $61,380 in revenue. Yet that same acre planted with hemp for CBG will earn $306,900!". Active cannabis companies in the markets this week include: SponsorsOne Inc. (OTCPK: SPONF) (CSE: SPO), The Supreme Cannabis Company, Inc. (OTCQX: SPRWF) (TSX: FIRE), Cresco Labs Inc. (OTCQB: CRLBF) (CSE: CL), Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB), Aphria Inc. (NYSE: APHA) (TSX: APHA).
An article in The Green Fund echoed those reports saying: "CBD or Cannabidiol, has taken the world by storm over the last few years, thanks to the introduction of the US Farm Bill in 2018. CBD has appeared in every product from coffee to cocktails, to even pet treats and beauty products. However, CBD isn't the only cannabinoid in town… it's time to learn about CBG." The Green Fund commentary continued: "Although CBG is just hitting the markets, it was actually first discovered by researchers in the 1960's. CBG is the main element that the other cannabinoids are created from, hence being commonly referred to as the "stem cell."
SponsorsOne Inc. (OTCPK: SPONF) (CSE: SPO) BREAKING NEWS: SponsorsOne Introduces Oral Dissolving CBG Tablet - Company Adds Another CBG Product To Its GO Nutraceutical Branded Line Of "Cannabis 2.0" Products - SponsorsOne, a company that utilizes its proprietary platform that combines digital marketing, wholesale and retail distribution, branding and operational & funding capital, giving it a competitive first mover advantage in rapidly building, launching and selling proprietary brands focused in the craft Alcohol, Functional Beverage and Cannabis Sectors, today announced that It has introduced another innovative CBG product, under the marketing management agreement with GO Nutraceutical's branded line of "Cannabis 2.0" products.
The company, which recently launched a line of flavored, chewable tablets delivering a 20mg dose of CBG, has now added a CBG sublingual dissolving tablet that delivers 10mg in a very small 6mm size also produced by GO Nutraceuticals. Sublingual dissolving tablets are placed under the tongue triggering much higher bioavailability which results in faster absorption into the body.
As with the chewable product, this will be sold direct to consumer through GO Nutraceuticals' online store and through SPO's wholesale and retail distribution channel and the company's rapidly expanding influencer network.
Myles Bartholomew, CEO of SponsorsOne, said: "Oral dissolving CBG tablets are one of the more unique offerings in our solid oral dose line. At 10mg and only 6mm round, the tiny size tablet melts perfectly in the mouth without the need for digestion. Oral dissolving tablets are new to the cannabis industry, but they are showing great potential. The product is easy and enjoyable to consume, the deliveries are small, and it tastes great. But it is not only our delivery system that is the key here, it is fact that we are utilizing CBG, which as we have said before, has been shown to possess enormous therapeutic promise, and has been called the holy grail of cannabinoids. We have taken the knowledge of the pharmaceutical industry and applied it to natural extracts to create the next innovative wave of cannabis deliveries. We believe this will help us separate the company from others in the market and will increase revenues and bring value to our shareholders." Read this and more news for SponsorsOne at: https://www.financialnewsmedia.com/news-spo/
Other recent developments in the cannabis/cbd/hemp industries:
The Supreme Cannabis Company, Inc. (OTCQX: SPRWF) (TSX: FIRE) recently announced the completion of its first international cannabis shipment from Canadainto Israel. Supreme Cannabis partnered with Breath of Life International Ltd. ("BOL Pharma"), Israel's largest and leading producer of medical cannabis and cannabis products, to offer Truverra-branded premium medical cannabis to patients in Israel.
"This transaction represents a new international revenue opportunity for Supreme Cannabis and builds Truverra's global medical brand in one of the most sophisticated medical cannabis markets in the world," said Colin Moore, Interim President and CEO of Supreme Cannabis. "With the support of BOL Pharma, we navigated both Canada and Israel's complex regulatory landscapes to achieve compliance with regulatory authorities in both countries, including Health Canada, the Canadian Food Inspection Agency and Israel's Ministry of Health and Ministry of Agriculture and Rural Development. We benefitted from BOL Pharma's skilled team, international experience and solidified position as a leading medical cannabis company in Israel. As we pursue capital-light international opportunities, we will continue to look to Jeff Adams, Truverra's CEO, and his exceptional team to build Truverra's medical brand globally."
Cresco Labs Inc. (OTCQB: CRLBF) (CSE: CL) one of the largest vertically integrated multistate cannabis operators in the United States, recently announced that it has completed the expansion project for its cultivation and manufacturing facility located in Brookville, PA. The expansion project provides an additional 66,000 square feet of indoor and greenhouse cultivation area, bringing the total cultivation space1 in the facility to 88,000 square feet. The Brookville site supplies Cresco's house of brands to 100% of the licensed dispensaries in Pennsylvania and the Company currently maintains one of the largest wholesale market shares.
The Company also concluded a significant expansion of its manufacturing capabilities with new and advanced extraction booths and integrated safety systems. The expansion project provides a 300% increase in capacity for butane extraction and a 90% increase in ethanol extraction which enables Cresco to efficiently process its increased biomass to manufacture its full portfolio of brands, including Cresco, Remedi and Reserve, with new brands launching soon. As a result of tripling the site's capacity in a phased approach, the Company expects products from the third, 22,000-square-foot phase to enter the market this month, with production from the fourth, 22,000-square-foot phase starting in July 2020 and gradually increasing throughout the remainder of the year.
Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB) the Canadian company defining the future of cannabis worldwide, recently provided an update related to its balance sheet flexibility, business transformation initiatives and COVID-19 operational response plans.
As of March 31, 2020, the Company had approximately $205 million of cash. This includes all amounts raised under the existing, and now completed, US$400 millionAt-the-Market Offering program ("ATM"), initially announced in May 2019. To support the strength of the Company's balance sheet and provide continued access to equity capital, the Company today stated that it intends to file a new prospectus supplement for a renewed ATM program, to enable Aurora to raise additional equity capital pursuant to its outstanding base shelf prospectus dated May 14, 2019 under which approximately US$350 million remains available. The Company intends to use a portion of this available capacity to provide further balance sheet strength and preserve flexibility given macroeconomic uncertainty caused by COVID-19.
Aphria Inc. (NYSE: APHA) (TSX: APHA) recently announced that its subsidiary, ASG Pharma Ltd. ("ASG"), has received its European Union Good Manufacturing Practices ("EU GMP") certification from the Malta Medicines Authority ("MMA") in respect of production of cannabis for medicinal and research purposes. Following receipt of its first medical cannabis import license for analytical testing and research in 2018 and the subsequent ASG facility upgrade, the certification provides Aphria with the ability to ship finished dried flower and finished oil for medicinal and research use in permitted jurisdictions throughout the European Union.
"We are pleased to receive EU GMP certification for ASG in Malta, our third facility to achieve this milestone, which really speaks to the Company's commitment to quality," said Irwin D. Simon, Chief Executive Officer. "We remain excited about growth opportunities as this increases our ability to serve, and further strengthens Aphria's leadership, in the European Union."
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