NEW YORK, November 7, 2017 /PRNewswire/ --
The CBD market is a large part of the legal cannabis market. CBD products do not have any psychotropic effects, and are usually used for medical purposes. Forbes reported that according to Matt Karnes of Greenwave Advisors, the market is estimate to reach an almost $3 billion market by 2021. Currently, 15 states that allow CBD only - this is in addition to the 28 states plus DC that have legalized medical marijuana. The report indicates that the CBD market has already been targeted by industry insiders. According to Headset Research data, in Washington state alone there are over 800 CBD products in the marketplace. Chineseinvestors.com, Inc. (OTC: CIIX), 22nd Century Group, Inc. (NYSE: XXII), Medical Marijuana, Inc. (OTC: MJNA), CV Sciences, Inc. (OTC: CVSI), Terra Tech Corp. (OTC: TRTC).
"One of the most surprising things we found during this research was how many companies are currently operating in the space, and how few of them are generating significant revenue," said Bethany Gomez, the Director of Research at Brightfield Group, according to an article by Forbes. "Essentially everyone is trying to do hemp, but only a handful are doing it well. It's seen as easy because it can be sold online but, with restrictions on traditional marketing, it is very difficult to connect with your core consumer and even communicate why they need your product."
Chineseinvestors.com, Inc. (OTCQB: CIIX) on October 2nd announced that it has appointed Skin Care Industry veteran and Shanghai beauty influencer, Fannie (Chun Fang) Tang as Marketing Director of its wholly-owned foreign enterprise, CBD Biotechnology Co., Ltd. effective immediately. Ms. Tang will report directly to CBD Biotechnology's CEO, Summer Yun, and will be responsible for developing and implementing branding strategies for CBD Biotechnology's CBD Magic Hemp Series skin care line in China. "With over twenty years of marketing and branding experience in the skin care and cosmetics industry, I believe CBD Biotechnology is extremely fortunate to be working with Ms. Tang," says Yun. "Ms. Tang's concept of 'Beauty Derives from Nature and Creation' aligns with CBD Biotechnology's vision to develop an innovative, natural skin care band. Moreover, Ms. Tang has proven success in the industry in this region. Through her efforts, we are confident that CBD Biotechnology will position itself to become a leader in China's skin care industry."
In September 2017, CBD Biotechnology completed the filing process with the China Food & Drug Administration for its first three products in the CBD Magic Hemp Series line, namely the CBDBIO TECH Brightening and Refreshing Moisturizer, the CBDBIO TECH Perfecting Shield Primer, and the CBDBIO TECH Peptide Collagen Solution, which are expected to be formally launched this month. The CBD Magic Hemp Series skin care line will be marketed through multiple sales channels, including online sales, app sales, and third party distribution relationships with online celebrities and market influencers.
"China can be a complex business culture to navigate," says ChineseInvestors.com, Inc.'s CEO Warren Wang. "As such, a company's management and leadership team is critical to its success. Ms. Tang is a proven marketing leader and beauty influencer in China. With Ms. Tang's expertise and a breakthrough hemp-infused skin care line, I believe we have the key elements for success in this market."
22nd Century Group, Inc. (NYSE: XXII), a plant biotechnology company focused on tobacco harm reduction and cannabis research, announced on October 19th, that the Company and the University of Virginia ("UVA") completed their first successful harvest of hemp plants and identified several promising hemp varieties that could form the foundation for commercial hemp production throughout the legacy tobacco belt region of the United States. "We are delighted with the results of our first industrial hemp field trials in Virginia and with the significant commercial potential these plants represent," reported Dr. Paul Rushton, Vice President of Plant Biotechnology at 22nd Century. "In 2018, we will add our proprietary zero-THC hemp plants to our hemp program with UVA and we will expand our hemp activities in New York and other areas across the United States; these projects will continue to spotlight 22nd Century as a leader in the rapidly emerging industrial hemp and medical marijuana markets."
Medical Marijuana, Inc. (OTC: MJNA) announced recently that their subsidiary Kannaway, LLC, the first hemp lifestyle network to offer cannabidiol (CBD) hemp botanical products, has introduced Kannaway® Pure Gold, a full-spectrum hemp oil that provides all the benefits of hemp without the presence of THC. Kannaway® Pure Gold is ideal for anyone who is subject to drug tests, including active and retired military, competing athletes, first-responders, or anyone concerned about THC in their daily CBD supplement. Starting with the same high-quality hemp oil used in all Kannaway products, new Kannaway® Pure Gold Liquid has been filtered down to include non-existent levels of THC to create the highest quality possible cannabinoid-dense CBD oil product.
CV Sciences, Inc. (OTCQB: CVSI) reported this September that its industry dominating brand of finished products, PlusCBD Oil™ will be exhibiting at Natural Products Expo East on September 14-16, in Baltimore, Maryland. Produced by New Hope Network, Natural Products Expo East is the leading trade show in the natural, organic and healthy products industry held on the East Coast, attracting over 28,000 industry professionals and 1400 exhibits to the Baltimore Convention Center. This brand is currently being sold in approximately 1300 health food stores and continues to grow its shelf presence in various retail outlets across the country.
Terra Tech Corp. (OTCQX: TRTC) provided an update on the planned joint venture with NuLeaf Sparks Cultivation LLC ("NuLeaf Sparks") and NuLeaf Reno Production LLC ("NuLeaf Reno"), in Nevada, which was announced on August 30, 2017. A wholly-owned subsidiary of Terra Tech has made a convertible loan to NuLeaf Sparks, and a convertible loan to NuLeaf Reno, both of which will automatically convert to 50% ownership of the NuLeaf entities upon approval by the State of Nevada. "NuLeaf's experienced and professional leadership team has over 15 years of direct cannabis experience," commented Derek Peterson, Chief Executive Officer of the Company. "NuLeaf Sparks and NuLeaf Reno are nearing the final stages of construction of their state of the art cultivation and production facilities and cannabis grown at these facilities will be harvested under the safest conditions, free of toxic pesticides, harmful molds and chemical residues in order to meet the high standards associated with our IVXX brand."
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