(MENAFN - Baystreet.ca) As CBD just begins its cultural renaissance, the marketcould more than double in value to $2.5 billion by 2026 from $950 million,according to Transparency Market Research. However, we could see those numbersimprove significantly, as CBD disrupts multi-billion-dollar industries,including the $4.2 trillion wellness market. After all, "Hemp-derivedCBD has been touted in several medical studies as having a myriad ofhealth benefits ranging from treating psoriasis, atopic dermatitis andeczema to minimizing seizures, stress, and insomnia," says Forbes.That's opening a wide range of opportunity forcompanies including The YieldGrowth Corp. (CSE:BOSS) (OTC:BOSQF), CanopyGrowth Corporation (TO:WEED)(NYSE:CGC), Green Thumb Industries Inc. (CN:GTII)(OTC:GTBIF), Green Growth Brands Inc. (CSE:GGB)(OTC:GGBXF), and Charlotte's Web Holdings Inc. (CN:CWEB)(OTC:CBWHF).
The Yield Growth Corp. (CSE:BOSS)(OTCQB:BOSQF) BREAKING NEWS:The Yield Growth Corp.announced a breakthrough in its ongoing research anddevelopment of the cannabis sativa (hemp) root. Test results for the extractcreated using Yield Growth's patent pending extraction method have indicated highconcentrations of potentially therapeutic compounds. This innovation is one ofmany ongoing product development endeavors underway at the Yield Growth. Tosatisfy the burgeoning market demand for high-quality hemp-based products,Yield Growth has developed a scalable and cost-effective production modelincorporating this breakthrough in hemp root oil manufacturing. This PatentCooperation Treaty (PCT) stage technology refines the hemp root oil process bysequestering the target compounds more efficiently, while providing the volumeneeded for increasingly larger production SKU's. Data from the latest tests,which commenced in early May, allow the company to define the size andspecifications of hemp root oil plant design.
"With the hempplant supplying such a dynamic range of health benefits for the above groundportion of the plant, why should we expect anything less from the roots, thevery foundation of the plant?" asks Bhavna Solecki, Director of ProductDevelopment.
Other cannabis-related developments from around the marketsinclude:
Canopy GrowthCorporation (NYSE:CGC)(TO:WEED) received a new license fromHealth Canadapermitting it to grow cannabis at an outdoor site in northern Saskatchewan.Hours after receiving the license, the first cannabis cuttings were planted ata 7 million sq. ft. (160 acres) securecultivation field in the province, one that is patrolled by drones (kidding -no drones, promise.) The new license expands Canopy Growth's diversifiedCanadian footprint and complements its existing indoor and greenhousefacilities to provide a leading balance of facilities to produce low cost inputmaterials for value-add products, while ensuring more sophisticated growingoperations for in-demand flower products. "Our team has outdoor, at-scale cannabis expertise gainedfrom over a decade of hemp farming experience, includingCanopy's 4,000-acre hempoperation executed last year, the extract of which is bolstering our CBD supplyfor the medical and recreational markets," said Mark Zekulin, Presidentand co-CEO, Canopy Growth. "At this stage in the summer planting season weview this as a pilot and ramp up project for outdoor cannabis cultivation,though the team will do everything it can to deliver low cost yields thisyear."
Green ThumbIndustries Inc. (CN:GTII)(OTC:GTBIF), a leading national cannabis consumerpackaged goods company and owner of Rise and Essence retail stores, announcedit will open its fourth retail location in Florida,RiseOviedo , the community's first cannabis store, on July 9, 2019. This isGTI's 26th open location in the country.Rise Deerfield Beach, Rise Pinellas Park andRise Bonita Springs all opened earlier this year, and GTI has a retailfootprint for up to 35 stores throughout Florida. The company owns and operatesa manufacturing facility in Homestead where it cultivates and produces GTI'sbranded cannabis products including Rhythm and The Feel Collection. "We arehonored to be the first company to provide access to medical cannabis in Oviedoand to help Floridians exercise their right to wellness," said GTI Founder andChief Executive Officer Ben Kovler. "Our Rise stores provide exceptionalcustomer care and we're thrilled to serve the people of Oviedo and surroundingcommunities."
Green Growth BrandsInc. (CSE:GGB)(OTC:GGBXF) just announced that it has surpassed 50SeventhSense Botanical Therapyshops open in four months. The first Seventh Senseshop opening was announced mid-February, and, since that time, GGB hascontinued to roll out its Seventh Sense shops at a rapid pace. The Companyanticipates opening more than 200 such shops by the end of 2019.Seventh Sense shops retail high-qualitybotanical therapy CBD-infused personal care and beauty products at affordableprices. The product offering includes over 100 SKUs across bath, body, face,therapeutic, and sleep categories."Thisrapid rollout across the U.S. is truly unprecedented," said Peter Horvath, CEO ofGreen Growth Brands. "We expect to open over 200 shops this year and areconfident that we are building one of the largest and most valuabledistribution networks for CBD."
Charlotte's WebHoldings Inc. (CN:CWEB)(OTC:CBWHF) just unveiled its newest CBD productline -hempextract-infused CBD Gummies- made with whole-plant extract from its prizedhemp genetics and featuring synergistic functional ingredients to supportspecific health related functions including everyday stress, sleep, andrecovery from exercise or active lifestyles. Available in a variety of flavors, gummies are the latest addition tothe Company's expanding line of CBD hemp-extract products. "Gummies are avery popular edible format as a result of convenience and measurableconsumption," stated Kelsey Morrison, Associate Director of ProductDevelopment at Charlotte's Web. "This new delivery format from Charlotte'sWeb provides an easy bite-sized way to ingest full-spectrum hemp-extractCBD."
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