PALM BEACH, Florida, May 23, 2017 /PRNewswire/ --
The growingpopularity of CBD, Cannabiol, Cannabis and other marijuana products with Consumers around the world is leading to higher revenue potential more than ever in the cannabis market as the whole sector remains hot for companies such as PotNetwork Holding,
PotNetwork Holding, Inc. (OTC: POTN) is pleased to announce today that its wholly-owned subsidiary, Diamond CBD , after achieving a record-breaking first quarter revenues, has achieved sales results in excess of $235,000 for the Company's premium Cannabidiol (CBD) hemp oil and other products that it featured at the CHAMPS Trade Show in Atlantic City from May 16th-18th. The CHAMPS Trade Show is widely recognized as the largest and most trusted counter-culture trade show in the world. Read this and more news for POTN at: http://www.marketnewsupdates.com/news/potn.html
Overall, the Company continues to experience a powerful upward trend in sales, as the team wraps up after a very successful 3-day exhibition. "We are ecstatic with our results. We have learned to set our expectations high. As a result of the timing of CBD's growing popularity and the quality of our products, our products are consistently met with reseller and consumer enthusiasm resulting in continuous escalating sales," stated Maria Gomez, Regional Vice President of Sales for Diamond CBD, Inc.
Diamond CBD recently had disclosed that for the month of April 2017 the Company had accomplished a massive boost in revenues year over year. The Company's revenues in April 2016 were just under $40,000, a reflection of the Company's infancy. With record breaking April 2017 sales of over $1 Million Dollars, the Company has achieved exponential growth of over 25 times.
Having recently surpassed the milestone of distributing 1 million Chill Gummy edibles, and having its CBD products distributed in approximately 10,000 retail locations nationwide, the Company continues to report ongoing heavy order flow. Moreover, as a result of the Company's strategic publicity efforts and high profile presence at major trade shows and conventions, the Company anticipates continued strong growth in clientele, brand recognition and preference for its products. PotNetwork Holding recently announced that Diamond CBD, Inc. had reported first quarter 2017 revenue of $1,858,347.48 which exceeded total revenue of $1,663,081.78 for all of calendar year 2016.
In other industry market performance and developments of note include:
MyDx, Inc. (OTCQB: MYDX) closed up just under 5% on Monday trading over 17.6 Million shares by the market close. MyDx, a rapidly growing science and technology company that has developed MyDx®, the first multi-use handheld chemical analyzer for consumers, announced 1Q 2017 results and management analysis yesterday. Read the full report at https://finance.yahoo.com/news/mydx-reports-first-quarter-results-135842783.html
Hemp Inc. (OTC: HEMP) also closed up over 5% on Monday trading over 21 Million shares by the market close. With recent activity of the Arizona House Committee passing Industrial Hemp, Hemp, Inc.'s 70,000 square-foot multi-purpose industrial hemp decortication facility, in Spring Hope, North Carolina, is set to be fully operational any day now and will be the largest hemp processing plant of its kind in the western hemisphere. To date, HEMP's CEO, Bruce Perlowin has seven 'master hemp growers' from Oregon, Colorado, California, Kentucky, North Carolina, Nevada and, of course, Arizona who have expressed a strong interest in pursuing a joint venture with Hemp, Inc. to each grow industrial hemp on 50 acres in Arizona. Perlowin is calling it 'The Great United Hemp Demonstration' which will encompass a total of 350 acres.
GB Sciences, Inc. (OTCQB: GBLX) closed up over 6% on Monday at $0.2849 by the market close. GB Sciences, Inc. yesderday announced the appointment of Mr. Leslie Bocskor as Vice Chairman, effective April 28, 2017. John Poss remains Chairman of the Board and CEO. Bocskor has been a director of GB Sciences ('the Company') since May 2016, and in this role has been instrumental in the Company's capital formation process and in the Company's relationship with its investment bank, Network 1. Network 1 has raised over $14 million to fund GB Sciences' further growth and investments.
Medical Marijuana, Inc. (OTC: MJNA) closed up slightly on Monday at $0.1173 trading over 6.4 Million shares by the market close. Medical Marijuana yesterday announced hat it has appointed Alex Grapov as its International Vice President. Grapov's first priority will be to open Medical Marijuana Inc. subsidiary Kannaway LLC's Kannaway® Europe operation. Kannaway®, the first hemp lifestyle network to offer phyto-cannabinoid botanical products, recently announced its expansion into Europe with the establishment of Kannaway® Europe, which is expected to be fully operational by Q4 2017.
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This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and MNU undertakes no obligation to update such statements.
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