PALM BEACH, Florida, Aug. 13, 2019 /PRNewswire/ -- Since the U.S. approved the 2018 Farm Bill, consumer demand for CBD has been explosive. So much so, 14% of Americans, or roughly one in seven now use some form of CBD for anxiety, insomnia, arthritis, migraines, and even stress. The Brightfield Group estimates the market to be worth over $23.7 billion by 2023, as CBD finds its way into supermarkets, major retailers, gas stations, and big box stores, where lotions and tinctures seem to be flying off the shelves with considerable demand. Even former Kellogg North American President Paul Norman is betting big on CBD growth. "This market is going to grow four or fivefold to 20 plus billion dollars in consumer value over the next five years," he says, as quoted by Yahoo Finance. "I believe, down the road, CBD will be widely available in all kinds of consumer products." That's opening a wide range of opportunity for companies including The Yield Growth Corp. (CSE:BOSS) (OTCQB:BOSQF), Canopy Growth Corporation (TSX:WEED)(NYSE:CGC), HEXO Corporation (NYSE:HEXO)(TSX:HEXO), GW Pharmaceuticals PLC (NASDAQ:GWPH), and Aurora Cannabis Inc. (NYSE:ACB) (TSX:ACB).
The Yield Growth Corp. (CSE:BOSS)(OTCQB:BOSQF) BREAKING NEWS: The Yield Growth Corp. just announced it is launching a new initiative to cater to the $130 billion global gifting market. In fact, it's wholly owned subsidiary, Urban Juve will now offer streamline gift wrapping and delivery through its webite, urbanjuve.com. According to Forbes, the gifting market represents an exponential retail opportunity — and not just during the traditional holiday season. Gifters tend to divide their budget into two categories: gifts bought for holidays with Christmas being the most important occasion, followed by Mother's Day and Valentine's Day; and other gifting occasions, like birthdays, anniversaries and weddings, which occur anytime throughout the year. Gift shoppers can now enjoy a new, streamlined gifting experience at urbanjuve.com. When a product is added to their cart, they will see the option to 'Add Gift Wrap', before they complete their purchase. Additionally, they have the opportunity to ship their purchase directly to the recipient — and with Urban Juve's partnership with ParcelPal, customers in some cities can enjoy same-day shipping, or even shipping within the hour. "The gifting market is a massive, year-round opportunity for Urban Juve. With this new functionality, we're catering directly to gift shoppers, and creating the potential to increase our revenue as a result," says Penny Green, CEO of Yield Growth. "We know already from customer feedback that people want to share Urban Juve products with their loved ones, and now it's that much easier for them to give the gift of true rejuvenation."
Other cannabis-related developments from around the markets include:
Canopy Growth Corporation (TSX:WEED)(NYSE:CGC) entered into an agreement to acquire the global cannabinoid-based medical researcher Beckley Canopy Therapeutic. The acquisition brings together Canopy's wholly owned research program with the Beckley Canopy research platform which is partly owned by Canopy Growth in order to combine the best teams, programs and clinical work all under a single strategic plan. The research arm in turn directly supports the commercial efforts of Spectrum Therapeutics around the world. As part of the acquisition, Canopy Growth also acquires the outstanding shares in Spectrum Biomedical UK, the commercial arm of the Company in the United Kingdom, as that markets begins to develop into a commercially viable opportunity. With the acquisition of C3, and Canopy Growth's expanding research and development plans worldwide, the Company is solidifying its status as a truly global leader in cannabinoid research. Spectrum Therapeutics will leverage Beckley Canopy's intellectual property, accelerate its comprehensive research programs, build evidence around the Company's products and formulations and ultimately improve patient access to cannabinoid-based medicines globally.
HEXO Corporation's (NYSE:HEXO)(TSX:HEXO) cannabis products are now available to Alberta consumers for the first time after finalizing an agreement between HEXO and Alberta Gaming, Liquor and Cannabis (AGLC). The agreement provides AGLC with HEXO's nine dried flower products and award-winning Elixir oral sprays, making them available on the Alberta Cannabis online store and to all of the nearly 200 private retail stores in the province. "This agreement marks the latest achievement in the development of HEXO's presence in Western Canada and our goal to be top two in market-share in the country," said HEXO Corp CEO and co-founder, Sebastien St-Louis. "Alberta represents one of the largest cannabis markets in Canada and we are thrilled to see our products are available to Albertans across the province."
GW Pharmaceuticals PLC (NASDAQ:GWPH) announced that the European Medicines Agency's (EMA) Committee for Medicinal Products for Human Use (CHMP) has adopted a positive opinion recommending marketing authorization of EPIDYOLEX (cannabidiol oral solution) for use as adjunctive therapy of seizures associated with Lennox‑Gastaut syndrome (LGS) or Dravet syndrome, in conjunction with clobazam, for patients 2 years of age and older. The European Commission (EC) is expected to make a final decision on the marketing authorization application (MAA) in approximately two months. "Today's positive CHMP opinion for EPIDYOLEX™ marks a major milestone for patients, and their families, battling to control two of the most severe and life-threatening forms of childhood onset epilepsy. Cannabidiol oral solution is the first in a new class of epilepsy medicines and the first plant-derived cannabis-based medicine to be submitted for European regulatory review, representing a historic breakthrough," said Justin Gover, GW's Chief Executive Officer. "We are excited by the potential to bring patients and physicians a rigorously tested and evaluated cannabis-based medicine with a documented safety and efficacy profile, manufactured to the highest standards and approved by a medicines regulator."
Aurora Cannabis Inc. (NYSE:ACB)(TSX:ACB) provided a corporate update on selected financial metrics for the fourth quarter of the Company's Fiscal 2019 period ended June 30, 2019. This reiteration of guidance and clarification of operations is intended to update our investors as Aurora continues to demonstrate leadership in transparency and disclosure as the industry navigates throughs periods of volatility. Full results will be published prior to September 15, 2019, details for which will be provided in advance. Based on a preliminary (unaudited) review, the Company anticipates net revenues for the quarter ended June 30, 2019 of between $100 million and $107 million (net of excise taxes), compared to $19.1 million in the period ended June 30, 2018, and compared to $65.1 million for the previous quarter ended March 31, 2019. Fiscal Q4 2019 net cannabis revenue is expected to be between $90 million and $95 million, with growth anticipated across all key business segments including medical, both Canadian and international, and consumer markets. The Company anticipates total net revenues for the fiscal year ended June 30, 2019 to be between $249 million - $256 million. The Company expects to report that production available for sale for Q4 2019 will be at the upper end of the range between 25,000 kg and 30,000 kg, ahead of previous guidance of 25,000 kgs.
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