PALM BEACH, Florida, Sept. 5, 2019 /PRNewswire/ -- Cannabis has become the biggest story of the decade. Not only did Canada approve its use in 2018, the U.S. government has become aggressive in its attempt to legalize its use. Corporate America has just begun to jump on the bandwagon. It's even disrupted some of the biggest industries on the planet. Everything from food and beverage to health and wellness has been impacted. Even retailers are rushing to stock their shelves with cannabis products. The best part – support for cannabis legalization is exploding. A Gallup survey found that 66% of Americans are in favor of legalization. That's up from just 60% in 2016. A Pew survey found that 62% of Americans want to see cannabis legalization in the country, as compared to just 57% in 2015. Better yet, analysts are just as excited about growth. For example, the Brightfield Group says worldwide cannabis sales are expected to soar from $591 million in 2018 to as high as $22 billion by 2022. Piper Jaffray says the market could be worth up to $100 billion. All of that has been a major catalyst for cannabis investors. That's opening a wide range of opportunity for companies including The Yield Growth Corp. (OTCQB:BOSQF) (CSE:BOSS), Charlotte's Web Holdings Inc. (OTCQX:CWBHF) (CSE:CWEB), OrganiGram Holdings Inc. (NASDAQ:OGI) (TSX-V:OGI), Curaleaf Holdings Inc. (OTCQX:CURLF) (CSE:CURA), and GW Pharmaceuticals PLC (NASDAQ:GWPH).
The Yield Growth Corp. (CSE:BOSS) (OTCQB:BOSQF) BREAKING NEWS: The Yield Growth Corp. just announced it is supporting its thriving licensing and white label business, currently with $3.7 million in signed agreements in the past 14 months, with continued development of its product catalogue. 26 new products are now in stability testing with an additional 13 products on deck to start testing in the upcoming weeks. Licensing agreements announced and signed in the past 14 months include $1 million for three-year exclusive Italian rights to distribute brands and infuse products with CBD and THC, $1 million for US rights to infuse products with CBD and THC, $800,000 for international rights to products for a hemp infused men's line and $900,000 for European rights to infuse formulas with CBD. All currency references are in Canadian dollars. "We continue to negotiate more licensing and distribution agreements, and we plan on signing several new deals before year end," says Penny White, Yield Growth CEO. "Our continued development of our catalogue of hemp formulas for CBD and THC infusion supports our international licensing strategy."
Yield Growth continues development of its catalogue with 26 new products in the process of stability testing at a laboratory in British Columbia. These include six essential oil perfumes, four natural remedy blends with essential oils, foot cream and hand cream made with proprietary hemp root oil and exotic botanicals. Yield Growth has also developed eight men's products, including four essential oil colognes, shaving cream, hair balm, beard oil, and eight white label versions of men's products without hemp root oil. "Stability testing is a crucial part of the production process. It guarantees that the formulation works as intended by providing a two-year shelf life. To ensure their efficacy, we use a minimum amount of clean, plant-based preservatives in all our products." says Bhavna Solecki, Director of Product Development. "In order to create these high-quality, natural products, Yield Growth invests a lot of time in research and development. R&D is a major facet of our operations, seeking to develop and enhance the existing products, while creating new formulations." These products capitalize on the growing consumer trend to seek products with natural, pure ingredients. All of the formulas in Yield Growth's catalogue are cruelty free and made with high-quality essential oils and botanical extracts. All formulas are free from harmful substances, including sulfates, SLS, SLES, parabens, formaldehydes or formaldehyde-releasing agents, phthalates, mineral oil, artificial fragrances, dyes, retinyl palmitate, oxybenzone, coal tar, hydroquinone and triclosan.
Other cannabis-related developments from around the markets include:
Charlotte's Web Holdings Inc. (CSE:CWEB)(OTCQX:CWBHF) just announced that Russell Hammer has joined the Company as Chief Financial Officer, effective tomorrow, August 15, 2019. Mr. Hammer, who has most recently served as an advisor in private equity investments, brings more than 30 years of finance experience in the retail, tourism and technology sectors. With his experience leading multi-billion-dollar multinational companies, he is the latest top-tier executive to join Charlotte's Web as the Company accelerates its growth and evolution into a global consumer packaged goods ("CPG") brand. Mr. Hammer replaces Rich Mohr, who as CFO has overseen the Company's successful transition to a publicly traded company and market leader in hemp CBD products. "Russ's appointment aligns perfectly to support the Company's evolution over the past few years from an early stage organization to a leading public company, into its next phase transitioning to a global CPG company. His breadth of international finance experience across a range of industries, as well as expertise in building operational infrastructure, applying forward-looking analytics, M&A, and accessing capital markets will help us scale the business in a financially stable way," said Deanie Elsner, CEO of Charlotte's Web.
OrganiGram Holdings Inc. (TSX-V:OGI) (NASDAQ:OGI) just announced it entered into an advance payment and purchase agreement with 703454 N.B. Inc. (carrying on business as 1812 Hemp) under which the Company will pre-fund hemp purchases to receive access to as much as 60,000 kilograms of dried hemp flower to be harvested in calendar 2019 for extraction into cannabidiol isolate. Organigram is already a party to a purchase agreement entered into in January 2019 with 1812 Hemp, in which Organigram was granted a right of first refusal on 1812 Hemp's production of certain hemp cultivars. Access to CBD-rich hemp flower is being facilitated through the Payment Agreement as the Company will advance funds to 1812 Hemp for their purchase of specialized large-scale hemp harvesting and processing equipment to maximize crop yields, contribute to increased efficiency and improve preservation of harvested cannabinoids. Purchase conditions for the dried hemp flower continue to be governed by the January Purchase Agreement which secures supply and supports research and development on the genetic improvement of hemp through traditional plant breeding methods.
Curaleaf Holdings Inc. (CSE:CURA) (OTCQX:CURLF) just announced the opening of its 26th Florida dispensary at 1994 Kings Highway in Port Charlotte. Curaleaf has the largest cannabis dispensary footprint in the US with 49 dispensaries across the country, and continues to execute on its strategy of rapid expansion in Florida. Curaleaf's Port Charlotte medical cannabis center will celebrate its grand opening with an event in partnership with the Charlotte County Chamber of Commerce on Thursday, September 12, 2019. The 3,600 square foot location is easily accessible off I-75 to serve patients in Port Charlotte, Charlotte Harbor, Punta Gorda, Solana, Harbour Heights and Lake Suzi. "It's part of our continuing effort to expand our footprint in Florida to provide patients with access to Curaleaf's premium medical cannabis products and educational resources," said Joe Lusardi, Curaleaf CEO.
GW Pharmaceuticals PLC (NASDAQ:GWPH) ) announced that Justin Gover, GW's Chief Executive Officer will present at the Morgan Stanley 17th Annual Global Healthcare Conference on Wednesday, September 11th, 2019 at 9:55 a.m. ET in New York, NY.
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