PALM BEACH, Florida, Nov. 13, 2019 /PRNewswire/ -- CBD is quickly becoming a multi-billion-dollar business. In fact, sales of products containing CBD are expected to grow 700% in 2019 year over year, says the Brightfield Group. "The CBD market has been growing rapidly, but we will see unprecedented growth in 2019," Brightfield Managing Director, Bethany Gomez, explains. "The bulk of this growth is coming from large retailers like CVS, Walgreens, and Kroger entering the market and providing that availability to consumers." Better, more Americans are supportive of cannabis legalization. In fact, according to a Gallup survey, 66% of Americans are in favor of legalization. That's up from just 60% in 2016. In addition, cannabis has become a major platform for presidential candidates, as we near the 2020 presidential election. That's leading to a wide range of opportunity for companies including CBD Global Sciences, Inc. (CSE: CBDN), Curaleaf Holdings Inc. (CSE:CURA) (OTCQX:CURLF), CV Sciences Inc. (OTCQB:CVSI), HEXO Corporation (NYSE:HEXO)(TSX:HEXO), and The Supreme Cannabis Company Inc. (TSX:FIRE) (OTCQX:SPRWF).
CBD Global Sciences, Inc. (CSE: CBDN) BREAKING NEWS: CBD Global Sciences, Inc. announced that Minute Suites, a wellness-based solution for travelers located in airports throughout the United states, has commenced selling Aethics product line, which include CBD Daily Active lotion, Muscle Rescue lotion, among others in locations nationwide. This partnership builds upon CBD Global Sciences' impressive and expanding distribution network and we anticipate that it will enable us to continue to generate significant growth during the balance of the fourth quarter of 2019 and into the start of 2020. "We are dedicated to offering the highest quality line of CBD products to Minute Suites and their customers, said Brad Wyatt, CEO CBD Global Sciences. "Working with a trusted retail partner allows us to expand our footprint in the US and Canada. We are thrilled about Minute Suites decision to expand their CBD offerings with our products." Top offerings from CBD Global Sciences include Muscle Rescue lotion, Daily Active lotion, CBD Marathon Foot rub, H2O Balance CBD water, and a wide range Performance Drops, CBD Global Sciences' whole plant CBD oil line. "We are excited for the new partnership between Aethics and Minute Suites, bringing the first retail CBD products to airports nationwide," says Chris Glass, Chief Operating Officer of Minute Suites." As we are focused on delivering the highest quality product possible, the Aethics brand is the foundation of our CBD lineup."
Other cannabis-related developments from around the markets include:
Curaleaf Holdings Inc. (CSE:CURA) (OTCQX:CURLF) announced the launch of its first Massachusetts adult-use dispensary in Oxford, Massachusetts. The retail store is now open at 425 Main Street in Oxford. Retail store hours are 9AM-8PM, Monday thru Saturday and 10AM - 5PM on Sunday. Oxford location will serve customers by appointment only for the first 30 days of operation but on-site appointments can be made schedule permitting.
CV Sciences Inc. (OTCQB:CVSI) announce its support of the U.S. Department of Agriculture's (USDA) progress on implementation of the hemp provisions of the 2018 Farm Bill. On October 29, 2019, U.S. Secretary of Agriculture Sonny Perdue announced the interim final rule for the U.S. Domestic Hemp Production Program. USDA regulation of hemp farming provides a consistent regulatory framework that supports responsible and sustainable hemp production in the United States. A strong USDA regulatory framework is needed to differentiate hemp, an agricultural commodity, from marijuana, a controlled substance, and to protect farmers and consumers. USDA announced that later this week, an interim final rule formalizing the program will be published in the Federal Register. This will allow hemp to be grown under federally-approved plans and make hemp producers eligible for agricultural programs, like crop insurance. The rule includes provisions for USDA to approve hemp production plans developed by states and Indian tribes including: requirements for maintaining information on the land where hemp is produced; testing the levels of THC to ensure compliance with the law; disposing of noncompliant plants; and licensing requirements. "We are eager to see full implementation of USDA's Hemp Production Program," said Joseph Dowling, Chief Executive Officer of CV Sciences. "The hemp industry is poised for rapid growth that will create new jobs and economic development opportunities for farmers, rural communities and the CBD industry. Regulatory clarity is critical for the hemp industry and we believe the interim final rule is another step toward the proper regulatory framework that will help unlock the true domestic growth potential of the industry. We'd like to thank the U.S. Hemp Roundtable and its hemp industry members for their tireless efforts in achieving this milestone. Now that hemp farming regulations have been established its time to focus on FDA's work to clarify the regulatory pathway for hemp-derived CBD products in dietary supplements. USDA and FDA regulation of hemp and CBD will provide a level playing field for quality and science-based CBD companies to operate, and allow consumers access to safe and beneficial products."
HEXO Corporation (NYSE:HEXO)(TSX:HEXO) just announced it has received licenses from Health Canada for its cannabis Centre of Excellence in Belleville, Ontario, for research, and for the sale of cannabis topicals, extracts, edibles and beverages from its flagship Gatineau campus. "The research license will allow us to take our innovation work to the next level, with testing on derivative products, including taste testing. Consumers have high expectations for their packaged goods experiences, and cannabis will be no different," said Sebastien St-Louis, CEO and co-founder of HEXO Corp. "We are committed to not only ensuring a quality consistent experience but to also guaranteeing that experiences powered by HEXO meet these expectations." While a Processing License provides for testing on live plants, fresh and dried plant material, seeds, and oil, a Research and Development License significantly expands the scope of work that can be conducted on cannabis and its derivatives. The Company plans to conduct research and development at its Vaughan and Montreal Innovation, Development and Engineering hubs, as well as at its Centre of Excellence in Belleville and in other facilities.
The Supreme Cannabis Company Inc. (TSX:FIRE) (OTCQX:SPRWF) announced that it will be providing its first quarter financial results for the three months ended September 30, 2019 on November 14, 2019. The Supreme Cannabis Company is a global diversified portfolio of distinct cannabis companies, products and brands. Since 2014, the Company has emerged as one of the world's fastest-growing, premium plant driven-lifestyle companies by effectively deploying capital, with an emphasis on disciplined growth and high-quality products.
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