PALM BEACH, Florida, December 19, 2017 /PRNewswire/ --
Cannabidiol - CBD, the natural phytocannabinoid extracted from cannabis, is quickly generating worldwide interest from the investment community while becoming an exciting opportunity for angel and venture capital investments pinning hopes that projections are correct and that the CBD market will grow 700% over the next few years. In an article published by Forbes, The Hemp Business Journal estimated that the CBD market will grow to a $2.1 Billion market in consumer sales by 2020 with $450 million of those sales coming from hemp-CBD based sources. That's a 700% increase from 2016. In 2015, the market for consumer sales of hemp-derived CBD products was $90 million, plus another $112 million in marijuana-derived CBD products which were sold through dispensaries - bringing a total CBD market to $202 million last year. And as political walls across North America continue to be reduced and investment into the market increases, the sector could see an even bigger leap in growth than anticipated. Active in the cannabis industry include: PotNetwork Holding Inc. (OTC :POTN ), Elev8 Brands Inc. (OTC :VATE ), Namaste Technologies Inc. (OTC :NXTTF ) (CSE: N), Growlife Inc. (OTC :PHOT ), Cannabis Wheaton Income Corp. (OTC :CBWTF ) (TSX-V: CBW).
PotNetwork Holding Inc. (OTC :POTN ) announced today, it's wholly owned subsidiary, Diamond CBD, Inc., has reported its revenues for November. Exceeding 1.6 million, management enters the final stretch of 2017 having developed a strong and consistent trend for solid growth. With continual month over month advancement, Diamond CBD's premium quality products have bolstered in popularity throughout the year and widely captured the attention of celebrities and distinguished media sources nationwide. Read this and more news for POTN at: http://www.marketnewsupdates.com/news/potn.html
The Company announced last week that PotNetwork Holding, Inc. had been recently featured in a Huffington Post article highlighting the emergence of the CBD industry. In its coverage of PotNetwork specifically, it summarized the Company's dedication to research, development, and multi-national distribution of premium hemp extracts. The article also shed light on the Company's reach, highlighting the established control of more than 15 CBD recognizable brands marketed at thousands of retail stores around the country through its subsidiary, thus strengthening distribution for its signature edible gummies, vape pens, vape additives, pet products, and more, available in 100's of flavors and sizes.
In other industry developments and market performances of note:
Elev8 Brands Inc. (OTC :VATE ) closed up Monday over 49% with over 12.2 Million shares traded by the market close. The company recently announced it is now working with an Orlando, Florida based coffee roaster. Elev8 Hemp aims to improve efficiency and in doing so has decided to bring on a new local roaster. New Florida-based roaster has significantly decreased lead time on new inventory as well as reduced cost on shipping, thereby markedly increasing profit margins. Elev8 has worked closely with roaster in developing new packaging and labeling to better fit traditional brick and mortar. CEO of Elev8 Hemp, Ryan Medico, stated, "I couldn't be more excited to have a more hands on feel, working with a roaster on the local level. The new packaging and labeling stands out amongst other coffees which distinctly brings attention to our premium hemp brand.
Namaste Technologies Inc. (OTCQB: NXTTF) (CSE: N.CN) announced a Letter of Intent with Supreme Pharmaceuticals Inc. ("Supreme") (TSX :FIRE.V ) (OTC :SPRWF ). The LOI, signed by Supreme's wholly owned subsidiary, 7ACRES, and Namaste's wholly owned subsidiary, Cannmart Inc. ("CannMart"), provides that Supreme will supply CannMart with a premium range of high quality dried cannabis flower which will be offered in the Company's medical marketplace. Supreme is focused on producing high quality cannabis through a commitment to carefully curated genetics, quality focused cultivation practices and a post-harvest process that includes a 14-day whole plant drying process and hand finishing of each flower. Under the terms of the LOI, Namaste has committed to work with Supreme as a preferred vendor as related to possible branded partnerships, in addition to supply for Namaste's in-house branded medical cannabis.
Growlife Inc. (OTC :PHOT ) closed up over 14% on Monday with over 30.8 Million shares traded by the market close. Last week, the company announced it has added an all-in-one home cultivation system called GrowLife Cube Pro to its renowned product offering. GrowLife Cube Pro is an improved version of GrowLife Cube, one of the world's first complete home grow packages designed to make plant cultivation attainable for consumers of all backgrounds and skillsets. The Company has introduced the product as a way to service the exploding recreational cannabis markets in California and other states where adults will be permitted to cultivate up to six plants per adult under local law. Additionally, consumers will be legally able to assign out their allotted plants to other cultivators, creating a large personal market for small, mid-size home cultivation. With almost 40 million people in California alone and regulation stipulating that all growing must be done indoors, the demand for home cultivation is expected to skyrocket as the adult use legislation takes effect in January 2018.
Cannabis Wheaton Income Corp. (OTCQB: CBWTF) (TSX-V: CBW.V) announced it has entered into a binding strategic alliance and streaming agreement with Sustainable Growth Strategic Capital Corp. (SGSC), whereby SGSC, through a subsidiary, will become a significant streaming partner to the company and the newest participant in the Wheaton licensing program. Pursuant to the agreement, the company will assist SGSC in obtaining ACMPR (Access to Cannabis for Medical Purposes Regulations) licensing for its large energy-efficient facility strategically located in Scarborough, Ont., which, upon receipt of the license, will make it one of the closest licensed producers to Toronto's downtown core. The company will also assist SGSC in developing the facility which SGSC anticipates will be approximately 145,000 square feet upon completion with the capacity for a further 200,000-square-foot expansion. SGSC consists of a seasoned management team with over 100 years of combined experience in delivering on large-scale power generation and construction projects.
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