NEW YORK, August 22, 2017 /PRNewswire/ --
According to a research report published by Hemp Business Journal and Vote Hemp, the Hemp Food, Body Care, and CBD products lead the U.S. hemp retail market and are projected to grow at a five year 22% CAGR. The report estimates that the total retail value of hemp products sold in the U.S. in 2016 was $688 million, and projected to grow to $1.8 billion in sales by 2020. Several categories of products such as shelled seed, protein powder, soaps and lotions have continued to show growing sales. Hemp CBD, a segment of the market with $130 million in sales and growing at a 53% AGR, contributed significantly to the $688 million in total sales according to the research. The Hemp CBD category archived popularity thanks to successful implementation of sales channels in natural and specialty products, smoke shops, and online verticals. Global Payout, Inc. (OTC: GOHE), OWC Pharmaceutical Research Corp. (OTC: OWCP), United Cannabis Corp. (OTC: CNAB), Kush Bottles, Inc. (OTC: KSHB), Easton Pharmaceuticals, Inc. (OTC: EAPH).
Cannabidiol (CBD) is the part of the cannabis plant that is usually used for medical purposes. Growth of the medical cannabis market is expected to accelerate as the products become more popular treatments for various medical applications such as chronic pain, post-traumatic stress disorder (PTSD), sleep disorders, anxiety, nerve pain and others. "The United States constitutes 35% of the global pharmaceutical market, the largest market in the world, and a major driver of the U.S. economy. It is one of many industries that will be impacted by the growth of the legal cannabis market and we are already starting to see that trend in legal medical states where use of key prescription drugs is down by 11%. If cannabis were to be adopted nationally, we would begin to see a trend of patients turning to medical cannabis as a substitute or complement to pharmaceuticals," said Giadha Aguirre De Carcer, CEO and Founder, New Frontier Data.
Global Payout, Inc. (OTC: GOHE) announced yesterday that its majority owned subsidiary, MoneyTrac Technology, Inc. has finalized a business development agreement with Pot Saver, a Southern California-based community periodical providing listings on discounted cannabis-related products for local dispensaries and shops. As per the agreement, MTRAC will provide Pot Saver with fundamental support and guidance needed to execute its go-to-market strategy.
The Company expects that as early as Q4 2017, this agreement will enable MTRAC to generate revenue earnings from service agreements facilitated on behalf of Pot Saver, while providing both companies an opportunity to benefit from rampant market growth.
"With the medical and recreational cannabis industry growing at an unprecedented rate in California, we are determined to be conscious of the multiple opportunities that currently exist, or that we can create for MoneyTrac to further expand its brand throughout the industry as well as tap into every available revenue source possible," said MTRAC COO Vanessa Luna. "This agreement with Pot Saver is an excellent opportunity for us to offer the industry-specific business development expertise we have acquired to help further Pot Saver's go-to-market strategy, while simultaneously creating a new source of revenue for our company as we continue to expand our own brand throughout the industry."
OWC Pharmaceutical Research Corp. (OTCQB: OWCP) and mediq Innovation Partners (mediq) announced earlier this year an agreement for the introduction of OWCP's active cannabinoid-based topical psoriasis cream to the German market. Frankfurt, Germany-based mediq has extensive experience, knowledge and a successful track record in enabling Israel-based companies to penetrate the European markets. Mediq's objectives for OWCP will consist of both scientific collaboration and most importantly the development of a commercial market for OWCP's proprietary, active cannabinoid-based topical psoriasis cream in Germany.
Commenting on the collaboration with OWCP, Jan Wende, managing director of mediq stated, "We're looking forward to initiating our efforts on behalf of OWCP in Europe, starting in our home market of Germany. Since German laws and regulations allow non-smokable forms of medical cannabis, we believe that OWCP's proprietary cannabinoid-based topical psoriasis cream is the right product at the right time."
United Cannabis Corp. (OTCQB: CNAB) announced on August 15th that the United States Patent and Trademark Office (USPTO) has issued US Patent #9730911, granting exclusive rights to its proprietary formulations based on compounds extracted from cannabis plant materials; more specifically, the composition of matter pertaining to the use of phytocannabinoids, cannabinoids, and specific terpene profiles in liquid form. This composition of matter patent provides protection for United Cannabis' proprietary formulations. Earnest Blackmon, United Cannabis' Chief Executive Officer, commented on the approval, "This is a significant milestone for United Cannabis. Our primary objective has always been to develop unique and effective cannabinoid based products. This Patent is one the cornerstones of our business plan for obtaining FDA approval."
Kush Bottles, Inc. (OTCQB: KSHB) is a dynamic sales platform that provides unique products and services for both businesses and consumers in the cannabis industry. On August 1st, Kush Bottles announced that it reached an agreement with CannaKorp to develop customized packaging for the CannaCloud, the world's first single-use, pod-based vaporizing system. Nicholas Kovacevich, Chief Executive Officer of Kush Bottles, commented, "CannaKorp is one of the most innovative companies in the legal cannabis industry and we are proud to provide packaging solutions for this ground-breaking system. We look forward to working with them as they grow and roll-out products nationwide."
Easton Pharmaceuticals, Inc. (OTC: EAPH) is a diversified specialty pharmaceutical company involved in various pharmaceutical sectors and other growing industries. The company announced on August 16th, pursuant to its previously announced closing agreement with Canadian-based Alliance Group, Easton has advanced $575,000 towards its acquired interest in 45 acres of a 135-acre fully owned parcel of land for the cultivation, production and sale of medical/recreational marijuana to the cannabis industry and towards other revenue producing businesses.
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