NEW YORK, April 6, 2017 /PRNewswire/ --
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Increasing demand for medical cannabis continues to boost the cannabidiol (CBD) market. CBD is one of the active cannabinoids in the cannabis plant and is considered to have significant medical benefits. According to a report published by The Hemp Business Journal, the U.S. CBD market was worth $202 million in 2015 and is expected to reach $2.1 billion by 2020. The report estimated that $450 million of the projected sales will be from hemp based sources and the rest from marijuana sources. The expanding market is also driven by growing acceptance of cannabis. 28 U.S. states have legalized cannabis for medical use. Naturally Splendid Enterprises Ltd. (OTC: NSPDF) (TSX-V: NSP), MCig Inc. (OTC: MCIG), American Cannabis Company, Inc. (OTC: AMMJ), Mountain High Acquisitions Corp. (OTC: MYHI), Surna Inc. (OTC: SRNA)
Matt Karnes from Greenwave Advisors stated, "In terms of the CBD market size, I estimate an almost $3 billion market by 2021. Right now there are 15 states that allow CBD only - this is in addition to the 28 states plus DC that have legalized medical marijuana." A report by Forbes points out there is evidence that traditional cannabis users are willing to give CBD a try. Outco, the largest licensed cultivator in Southern California published data that shows 38% of users and non-users claimed they wanted to learn more about CBD oil.
Naturally Splendid Enterprises Ltd. (OTCQB: NSPDF) (TSX-V: NSP) announced earlier today, "It has signed a definitive agreement with Canature Processing Ltd., ('Canature'), an industry leader in the freeze dried pet foods and treats market for the inclusion of Naturally Splendid's proprietary HempOmega™ into a range of products. Naturally Splendid and Canature have entered into a definitive agreement, whereas Canature will begin work to formulate Naturally Splendid's proprietary HempOmega™ into Canature's existing product lines and begin R&D on future pet food and treat products. Canature will incorporate HempOmega™ into Canature's house brands and potentially, into private label client products as well. Naturally Splendid will grant Canature exclusive rights for the application of HempOmega™ into freeze-dried pet food and treats for an initial term of two (2) years in defined categories and territories."
Naturally Splendid CEO Mr. Dave Eto states, "The pet treat/food industry is growing and expanding. Our agreement with Canature, one of Canada's largest pet food manufacturers, is indicative of the opportunities we are developing to promote the use of HempOmega™ as an ingredient in the pet food/treat industry. This is a key strategic alliance and opportunity to enter the growing premium pet food sector with an organization that values high quality and innovative products. Hemp Omega is proving to be an excellent fortification ingredient for not only humans but for those we consider our 'best friends' and we are very excited with the possibilities to enhance the health and nutrition of the entire family. As such, we will continue to explore HempOmega™ opportunities in multiple categories outside of the pet food/treat industry such as dairy, baking, beverages and cosmetics."
MCig Inc. (OTCQB: MCIG) is engaged in manufacturing, marketing and distributing electronic cigarettes, vaporizers and accessories under the mCig brand name. The Company offers electronic cigarettes and related products through its online store, mcig.org, as well as through its wholesale, distributor and retail programs. Its segments include construction, Internet sales and wholesale. The Construction segment develops, designs, engineers, and constructs modular buildings with elements that assist cannabis growers in the market. Each modular building is designed for each customer. The Company tracks various retail sales, through the Internet segment through the consolidation of all online retail sales from various websites. It provides streamlining of administrative and documentation services, consolidation of inventories and supports economy of scale. The wholesale segment works with distribution channels in electronic vaporizing cigarettes and marijuana cigarettes, among others.
American Cannabis Company, Inc. (OTCQB: AMMJ) offers end-to-end solutions to existing and aspiring participants in the cannabis industry. The company utilizes its industry expertise to provide business planning and market assessment services, assist state licensing procurement, create business infrastructure and operational best practices. On March 23rd, 2017 the company announced it has secured its first client in the Canadian province of Alberta. The company will help the client plan business operations and develop a financial model to pave the way for license acquisition. American Cannabis Company will provide the Client with cultivation and manufacturing facility conceptual design work to further advance the project build. The company expects to utilize this contract to secure additional revenues through long-term consulting agreements and potential sales of ancillary products.
Mountain High Acquisitions Corp. (OTCQB: MYHI) is a diversified holding company focused on the acquisition and development of businesses within the hemp and CBD nutraceutical sectors. The Company's wholly owned subsidiary, GreenLife BotaniX, Inc. is a California-based developer and marketer of the 'SuperCBD' brand of CBD hemp oil infused nutraceutical products. GreenLife currently features over a dozen CBD-based products on its e-commerce website, including four primary flagship products; 'Super CBD Drops' - a high-potency vanilla flavored vegan hemp oil tincture, 'Super CBD Lotion' - a CBD lotion made with a unique blend of CBD, eucalyptus oil, and vitamins and minerals, 'Super CBD Lip Balm' - a medicated ointment intended for a variety of skin problems, cuts and rashes, and 'Super CBD Pills' - a concentrated CBD dose in pill form for easy ingestion.
Surna Inc. (OTCQB: SRNA) engineers and manufactures innovative technology and products that address the energy and resource intensive nature of indoor cultivation. The company's current focus lies in supplying industrial solutions to commercial indoor cannabis cultivation facilities. Early in February, the company signed a contract with Vancouver's Sante Veritas Therapeutic to design and provide equipment for the environmental control system in its first commercial cultivation facility. Surna CEO Trent Doucet said, "Cannabis for medical use is legal throughout all of Canada, making the market an outstanding opportunity for continued growth. We now have five clients in Canada, and our sales team continues to see significant activity from both new market entrants as well as existing clients planning expansion."
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