PALM BEACH, Florida, November 2, 2017 /PRNewswire/ --
Hemp based CBD, or cannabidiol, is one of the most talked about, yet misunderstood pieces of the cannabis industry. Hemp-derived cannabidiol (CBD) is projected to be a billion-dollar market in just three years, according to a new report by Brightfield Group. The data company estimates that hemp CBD sales had already hit $170 million in 2016 and a 55% compound annual growth rate over the next five years will cause the market to crack the billion-dollar mark. The market is booming because a variety of CBD concentrates are used to manufacture a variety of products including edibles, topical ointments and even treatments for medical conditions. Active Companies from around the market with current developments include: Hemp, Inc. (OTC: HEMP), Surna Inc. (OTC: SRNA), Medical Marijuana Inc. (OTC: MJNA), SinglePoint Inc. (OTC: SING), Canopy Growth Corporation (TSX: WEED) (OTC: TWMJF)
Hemp, Inc. (OTC: HEMP) a global leader in the industrial hemp industry with the largest multi-purpose industrial hemp processing facility in the western hemisphere, announced today it has received all brand new, state-of-the-art components of the cannabidiol (CBD) post processing equipment to complete the Company's hemp oil extraction infrastructure (Division 2). The latest equipment additions to the Company's extraction operation will be assembled in the coming days. Read this and more news for HEMP at http://www.marketnewsupdates.com/news/hemp.html
"We chose the most cutting edge, state-of-the-art processing equipment on the market, from Across International, to ensure our CBD extracts lead the industry in quality and consistency, allowing us to bring innovative bulk CBD products to market. We have also partnered with Across International to display this state-of-the-art equipment at our Hemp University educational symposiums in the upcoming year. This equipment allows us to 'winterize' the raw CBD crude oil. After the CBD crude oil is winterized, we are able to perform the remaining post processing so that we can make an array of products, including but not limited to tinctures and cartridges to put it in vape pens… our options are limitless with this equipment," said David Schmitt, COO of Hemp, Inc.'s wholly owned subsidiary, Industrial Hemp Manufacturing, LLC. In August, Hemp, Inc. announced the official launch of its NuAxon Tech CO2 Supercritical Extractor.
"The completion of our hemp oil extraction infrastructure will allow us to ramp up production of CBD products, creating increased Company value for the public and shareholders." said Hemp, Inc. CEO Bruce Perlowin. "The market price of CBD crystalline isolate was roughly $20,000 per kilogram at the early part of 2017. While prices have gone down this year, in some cases, to as low as $6,500 per kilo on the low end volume price, CBD full spectrum extract making customized formulas have in some cases gone up and other cases gone down. Whether the price decreases or increases, I think it's important to note and remind our shareholders that while we expect significant returns from our hemp oil extraction, it's a secondary component of our overall business plan that we added to 'enhance' our revenues. Hemp, Inc.'s primary business is focused on producing non-toxic loss circulation material (LCM) and spill absorbents for the oil and gas industries."
In the industry developments and happenings in the market this week include:
Surna Inc. (OTCQB: SRNA) closed up at $0.1483 on Wednesday on over 1.4 Million shares traded by the market close. With over 1 million shares traded. Surna, Inc. is a Boulder, Colorado-based manufacturer of a proprietary line of optimized lighting, environmental control and air sanitation systems for state-regulated cannabis cultivation facilities as well as traditional indoor agricultural facilities (http://www.surna.com ). We develop innovative technologies and products that monitor, control and or address the energy and resource intensive nature of indoor cannabis cultivation. Our goal is to provide intelligent solutions to improve the quality, the control and the overall yield and efficiency of controlled environment agriculture.
Medical Marijuana Inc. (OTC: MJNA) closed up over 3% on Wednesday trading over 8.5 million shares by the market close. The company also announced it will be launching Subscribe & Save programs for the following brands: Real Scientific Hemp Oil; Dixie Botanicals; and all Cibaderm products. The Subscribe & Save program allows customers to receive automatic shipments of their favorite Medical Marijuana, Inc. products at a discount of 20% each month. This newly announced program, gives customers total control with options to cancel, pause, or adjust their order at any time. Customers receive all of the benefits without any hassle. "We know that many of our customers rely on our CBD products every single day, and have for months or years," said Medical Marijuana, Inc. CEO Dr. Titus. "With that in mind, we're glad to bring them and all our customers a more convenient experience with this program, as well as a considerable discount."
SinglePoint Inc. (OTC: SING) closed up at $0.06 on Wednesday on over 5.6 Million shares traded by the market close. SinglePoint, Inc. is one company that has found promising applications for bitcoin as a means to help solve banking issues within the U.S. cannabis market -- another investment space that is currently blossoming with no end to its growth in sight. Despite this, companies in the cannabis industry are currently blocked from accessing traditional banking services in the U.S. due to the Controlled Substances Act, which categorizes marijuana as a schedule I controlled substance. Even in states where cannabis has been legalized, marijuana enterprises are plagued by a lack of banking options, which largely forces them to conduct cash transactions. SinglePoint's cannabis cryptocurrency solution, which is now mere weeks away from launching in beta form, could help effectively resolve this. Through its subsidiary SingleSeed, the company is providing products and services to the cannabis industry.
Canopy Growth Corporation (TSX: WEED.TO) (OTC: TWMJF) closed Wednesday at $16.49 on the TSX exchange on over 9.6 million shares traded by the market close and closed at $12.79 trading over 1.3 Million shares on the OTC markets. Yesterday, the company announced it has welcomed the founder of Stampede Management, Ted Chung , as a Strategic Advisor for Content Strategy to strengthen and leverage responsible brand opportunities for Tweed and other cannabis brands in the lead-up to the legal adult-use market in Canada. Mr. Chung has established himself as a thought leader and visionary in the cannabis media landscape as, among many notable accomplishments, a founder of MERRY JANE and an Executive Producer on the EMMY-Nominated television series Martha and Snoop's Potluck Dinner Party. Ted is also the longtime manager of cultural icon Snoop Dogg.
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