Hemp Cannabidiol (CBD) Industry Swells as Sales for Hemp-Derived CBD Products Reach New Levels

Wednesday, August 29, 2018 Drug News
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PALM BEACH, Florida, August 29, 2018 /PRNewswire/ --

MarketNewsUpdates.com News Commentary

The cannabidiol

(CBD)-Hemp market is estimated to grow by 700% by 2020, according to Forbes. In a recent report issued by New Frontier Data, the U.S. CBD industry grew by nearly 40% in 2017, reaching $367 Million in sales across hemp-derived
and marijuana-derived markets. Astonishingly, this is first year in which sales of hemp-derived CBD products outpaced marijuana-derived products. The report also clarifies that surging demand is projected to lift both of the markets higher. Currently the current year is being view as a break-out year for CBD products, as total market expansion is expected to cross the USD 500 Million mark in sales. The CBD industry will grow to $1.2 Billion by 2020, and nearly $2 Billion by 2022. Active companies in the Cannabis markets this week include Cannabis Strategic Ventures, Inc. (OTC: NUGS), Sugarmade Inc. (OTC: SGMD), Smart Cannabis Corp. (OTC: SCNA), Hemp, Inc. (OTC: HEMP), The Supreme Cannabis Company Inc. (TSX-V: FIRE) (OTC: SPRWF). Cannabis Strategic Ventures, Inc. (OTCPK: NUGS) BREAKING NEWS : Cannabis Strategic Ventures announces a major common share restructuring. A total of 75.6 million shares cancelled, including 20 million from Chief Executive Officer, Simon Yu. The share cancellations are designed to increase shareholder value for all shareholders and will allow Company managers, consultants, minority shareholders, and other key Cannabis Strategic Ventures stakeholders to increase corporate flexibility relative to future brand-oriented strategic acquisitions and partnerships. "The share cancellations increase value for all shareholders and signals to minority shareholders on the management team's interest in building long-term value for all," commented Mr. Simon Yu, CEO, Cannabis Strategic Ventures. Yu is cancelling 20 million shares of his personal holdings. Additionally, Cannabis Strategic Ventures consultants and associates are canceling an additional 55.6 million shares. In total, approximately 25% of the total shares are being cancelled via this action. The Company recently announced major partnerships with, Fitamins and Asher House Pet CBD, both premium brands in the multi-million dollar CBD products market. Through the acquisitions, the Company gained access to Fitamins' network of more than 600 wholesalers that distribute products to the Asian-American market; while The Asher House Pet CBD is gaining national attention for their cross-country road show promoting Pet Adoption and Pet CBD.   Mr. Yu continued, "The future of Cannabis Strategic Ventures is all about acquiring and partnering with the best brands in the fast-growing cannabis marketplace. The streamlined share structure will continue to make our Company an attractive partner as we work toward signing other similar brands and distribution partnerships." Read this and more news for Cannabis Strategic Ventures at: http://www.marketnewsupdates.com/news/nugs.html Other recent developments in the cannabis industry include: Smart Cannabis Corp. (OTCPK: SCNA) has begun installation of greenhouse equipment at a property permitted to grow cannabis in Yolo County. The contract with CompassLeaf LLC is being fulfilled by SCNA subsidiary, Next Generation Farming, and the deposit has been received. The project involves installation and retrofitting of eight, 30'x96' (23,040 sq.ft.) pre-existing greenhouse frames and fully equipping them with an entire suite of equipment necessary for a successful cannabis cultivation site. "We were dissatisfied with the bare greenhouse structures installed by another company and their slow construction progress so we reached out to Next Generation Farming. They immediately responded with solutions to help us get our facilities up and running. Within three weeks, we've experienced a dramatic transformation in the structures, complemented by professionalism and a high level of expertise throughout the process. We are thrilled that we can finally accelerate and improve this project with Next Generation's help," stated Kyu Kim, Co-Founder and CFO of CompassLeaf LLC. Sugarmade, Inc. (OTCPK: SGMD), one of the largest publicly traded hydroponics supply companies, yesterday announced the filing of a disclosure statement with the Securities & Exchange Commission concerning possible acquisitions by the Company. Sugarmade has begun formal acquisition negotiations with two companies that provide online and retail hydroponic and other agricultural cultivation supplies. Mr. Jimmy Chan, CEO of Sugarmade, commented, "The hydroponic supply sector is still highly fragmented with many of the larger players not likely to reach public company liquidity events for the original entrepreneurial teams. We have entered into talks with at least two of these companies for acquisition, which we believe will be highly accretive for common Sugarmade shareholders and additive to our already robust top line growth rate. We wanted to publicly disclose these discussions to ensure that all shareholders have equal access to our direction, thus our recent public filing." Hemp, Inc. (OTCPK: HEMP), a global leader in the industrial hemp industry with the largest multipurpose industrial hemp processing facility in the western hemisphere, announced yesterday the company applauds Illinois Governor Bruce Rauner for signing Illinois' Industrial Hemp Act on Saturday, legalizing hemp in Illinois effective immediately. "Legalizing the farming of industrial hemp just makes good sense," Rauner said in a statement. "Roughly 38 states - including our neighbors in Wisconsin, Kentucky, Indiana, Missouri, and Tennessee - have allowed or are considering allowing cultivation of this crop for commercial, research or pilot programs. Our farmers should have this option as well." Illinois' Industrial Hemp Act goes into effect immediately, and according to the governor's office, allows for its use in paper, fabric, biodegradable plastics, construction materials, and health food. The Illinois Department of Agriculture will issue licenses to farmers who want to grow hemp and regulators will establish rules for THC-level testing of industrial hemp crops. The bill passed the state House of Representatives by a 106-3 vote, and the Senate passed it unanimously. Advocates of legalization say Rauner will create hundreds of jobs and up to $100 million in annual state revenue. The Supreme Cannabis Company Inc.'s (TSX-V: FIRE) (OTCPK: SPRWF) wholly owned subsidiary, 7ACRES, has entered into supply agreements with the Nova Scotia Liquor Corp. (NSLC) and the PEI Cannabis Management Corp. (PEICMC) to supply recreational cannabis to their respective retail stores beginning Oct. 17, 2018. Nova Scotia and PEI become Supreme Cannabis's fifth and sixth provincial recreational partners alongside Ontario, British Columbia, Alberta and Manitoba. Supreme Cannabis joins a select group of leading cannabis companies that have secured supply agreements with five or more provinces to date, including: Canopy Growth, Aphria, Aurora, Tilray and Organigram. DISCLAIMER: MarketNewsUpdates.com (MNU) is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. MNU is NOT affiliated in any manner with any company mentioned herein. MNU and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. MNU's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. MNU is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed MNU has been compensated twenty five hundred dollars for news coverage of the current press releases issued by Cannabis Strategic Ventures, Inc by a non-affiliated third party. MNU HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE. 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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SOURCE MarketNewsUpdates.com

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