PALM BEACH, Florida, March 14, 2019 /PRNewswire/ -- Most know the difference between THC and CBD, and they are, of course, marketed differently due to their differences. But, there is one battleground where they will both be competing and each will probably win! It's the edibles market! Each should do well indeed. Most of the headlines and projections have focused on CBD, since it can now be marketed in every state, but when THC infused products become easier to reach the market, the consumers of CBD infused products will probably also buy the THC version also. A win-win! A recent Forbes article said: "As more states legalize cannabis for recreational use, edibles will become a huge market for entrepreneurs. In California alone, consumers gobbled up more than $180 million worth of marijuana-infused food and drinks last year, 10% of the state's cannabis sales, according to industry research reports. And it's not just California that's seeing a growing edibles market. Sales of pot-infused treats increased 121% last year in Washington state, where recreational marijuana is legal, according to cannabis analytics firm. Active Companies from around the market with current developments this week include: Golden Developing Solutions, Inc. (OTC: DVLP), PotNetwork Holdings, Inc (OTC: POTN), Kona Gold Solutions, Inc. (OTC: KGKG), Choom Holdings Inc. (OTC: CHOOF) (CSE: CHOO), Leafbuyer Technologies, Inc. (OTC: LBUY).
The Forbes article continues with - And since Colorado first allowed recreational marijuana use, sales tripled from $17 million in the first quarter of 2014 to $53 million in the third quarter of 2016. The reason for the explosive growth is that as the pot market expands, it's starting to reach people who don't want to smoke. Overall the smoking rate among adults is down from 20.6% in 2009 to 16.8% in 2014. Edibles provide a discrete, smoke-free experience. And since they can command higher prices, edibles often account for 25 to 60% of a dispensary's profits. That makes edibles an appealing slice of the pot pie, which was worth an estimated $7.2 billion in 2016, and is projected to grow up to 25% annually.
Golden Developing Solutions, Inc. (OTCPK: DVLP) BREAKING NEWS: Golden Developing Solutions, an emerging leader in the Cannabis, Hemp, and CBD marketplace, is pleased to provide shareholders with an update of current operations. With our latest acquisition of CBDinfusionz.com, we have created what we believe to be the largest product selection in the CBD industry. We encourage all to visit and take a look at our product line. To give an idea of the size of our operations, we are now over 30 team members in 5 states and 4 commercial locations. Combined sales for the company when we include the transaction reached a record for both companies in February totaling more than $500,000. Both DVLP and CBDinfusionz.com have doubled sales every 4-6 months. Our current market cap is approximately $13.6mil. We believe this presents tremendous value for shareholders as our growth shows no signs of slowing down. Several new machinery lines are coming online this year including our new CBD processing facilities and the full scale launch of wherescbd.com. We look forward to a profound and impactful year to our shareholders, community, and clients.
The Company also recently announced the completion of its acquisition of Infusionz, LLC (CBD Infusionz), a manufacturer of CBD based products. CBD Infusionz offers it's broad product line through it's website, https://www.cbdinfusionz.com/, retail outlets and contract manufacturing agreements.
"CBD Infusionz is a true leadership play in the CBD space, with rapidly growing sales and the best quality products in the industry. This is the company that developed and launched one of the first edibles in the legal marijuana space and now they have created the best acquisition in the CBD space. Our business is growing exponentially with massive upside with capital improvements and operational sophistication. We strongly believe this acquisition adds an enormous dose of value for DVLP and its shareholders," noted the Company's CEO, Stavros Triant. Read this and more news for Golden Developing Solutions at: https://www.financialnewsmedia.com/news-dvlp
In the industry developments and happenings in the market this week include:
PotNetwork Holdings, Inc (OTCPK: POTN) this week the company said that interest in PotNetwork Magazine is surging, as the premier issue of the cannabis industry's number one outlet for financial, political, and industry news now reaches thousands of entrepreneurs, retailers, and other B2B leaders. To date, the first issue of PotNetwork Magazine, which features an exclusive interview with former Mexican President Vicente Fox has reached a subscriber base of approximately 30,000 individuals and consumer outlets.
PotNetwork Holdings, Inc., the parent company of PotNetwork Media Group, attracted an unprecedented number of early subscribers to the magazine while adding thousands more through distribution to offices, newsstands, and magazine retail shelves worldwide. With nearly 3,000 preorders, the early buzz was warranted, as readers heaped praise on the magazine for its hard-hitting news stories and in-depth exclusives.
Kona Gold Solutions, Inc. (OTCPK: KGKG) this week announced agreements with three new distribution partners, TJ Distribution in Massachusetts, Trident Distributors LLC in New Jersey, and SeeBeeDee'z LLC in New York. Kona Gold has now partnered with 13 new distributors in 2019, putting the number of distribution partners around the country selling the Company's Hemp Energy Drinks and CBD Energy Waters well over 20. The addition of TJ Distribution, Trident Distributors, and SeeBeeDee'z will place Kona Gold's popular Hemp Energy Drinks and CBD Energy Waters into key markets as the Company continues its aggressive expansion across the United States.
Choom Holdings Inc. (OTCQB: CHOOF) (CSE: CHOO), an emerging adult and medical use cannabis company that has secured one of the largest national retail networks in Canada, this week announced it is entering the United States, starting with the state of New Jersey. Choom through its wholly owned US subsidiary, Choom Holdings USA Inc., has signed a letter of intent ("LOI") to purchase an equity interest in a New Jersey based (the "NJ Company") medical retail dispensary applicant in New Jersey's upcoming Request of Applications ("RFA") that also intends to enter into recreational cannabis retail upon legalization, which is anticipated in 2020.
The NJ Company is advancing on its retail store strategy in New Jersey with the intention of receiving licenses to operate the maximum allowable cannabis stores for medical and eventually adult use when formally approved by the State. With these licenses, the NJ Company intends to create a network of branded stores using Choom's medical brand, Clarity Medical Centres, or Choom ("Choom Brands") for its recreational retail stores in the future. Choom will assist the NJ Company in this highly regulated market for the buildout and operations of cannabis retail stores. Choom will receive a royalty from the NJ Company for the use of the Choom Brands. Choom's investment in the NJ Company includes pro rata rights to maintain its equity interest on future financings.
Leafbuyer Technologies, Inc. (OTCQB: LBUY) this week announced that the Company officially launched leading mobile application Greenlight in Colorado and Oklahoma. The statement follows a November 8, 2018, release announcing Leafbuyer's acquisition of Greenlight.
Previously a California-only order ahead and loyalty platform, Greenlight is now available to Leafbuyer dispensary customers located in Colorado and other legal cannabis markets. At time of writing, 16 Leafbuyer dispensary clients have signed up for the cutting-edge technology in Colorado and 9 additional clients in Oklahoma.
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