(MENAFN - Baystreet.ca) The CBD vape market is only expected to gain momentum. According to Data Bridge Market Research, the market could be worth up to $28.05 billion by 2027 at a CAGR of 22.25%. "Increasing CBD oil usage in several medical applications such as treatment of anxiety and depression, stress relief, diabetes prevention, mitigation of pain, alleviation of cancer symptoms, and acne reduction will likely accelerate the growth of the CBD vape juice market in the forecast period of 2020-2027." That's a strong catalyst for companies, such as Pure Extracts Technologies Corp. (CSE:PULL)(OTC:PRXTF)(XFRA:A2QJAJ), Aleafia Health Inc. (TSX:AH)(OTC:ALEAF), Canopy Growth Corporation (NASDAQ:CGC)(TSX:WEED), Tilray Inc. (NASDAQ:TLRY), and Trulieve Cannabis Corp. (CSE:TRUL)(OTC:TCNNF).
Look at Pure Extracts Technologies, for example
Pure Extracts Technologies Corp. (CSE:PULL)(OTC:PRXTF)(XFRA:A2QJAJ) just announced announce that its wholly owned subsidiary, Pure Extracts Manufacturing Corp., has begun production of 25,000 vape cartridges and for the Canadian retail market.
Demand for Pure Extracts' Pure Pulls branded 510 Vape cartridges is strong within the provincial markets. The Company estimates retail sales revenue for this production run will be approximately $750,000. The cartridges will be filled with a selection of some of the Company's 30+ proprietary, full spectrum oil (FSO), formulations including Super Lemon Haze, Grand Daddy Purple and Girl Scout Cookies/GSK.
These vape 510 cartridges are produced by a global manufacturer and adhere to the highest North American test standards. These products were specifically chosen for the quality of their component parts, their fit and finish and their performance characteristics when paired with Pure Extracts' oil concentrates.
Pure Extracts CEO, Ben Nikolaevsky, remarked, "We are excited about preparing to ship our first vape cart orders to the provincial distribution channels. We have created the high quality FSO vape products that consumers now demand and believe that we will quickly build brand loyalty with both legacy and new entrants in the vape space."
Other related developments from around the markets include:
Aleafia Health Inc. will announce its 2021 first quarter results on May 11, 2021 prior to market open. The Company will also host its earnings conference call the same day at 8:30 a.m. EDT. The call will be hosted by CEO Geoffrey Benic and CFO Benjamin Ferdinand.
Canopy Growth Corporation
, a world-leading diversified cannabis, hemp, and vaporization device company, is announcing the https://www.canopygrowth.com/investors/news-releases/canopy-growth-introduces-vert quebec-exclusive-cannabis-brand/,launch of Vert , the Company's first Quebec-exclusive brand. The first two strains to launch under the Vert brand are ‘Green Cush' and ‘Sour Kush', which will be sold via the Société québécoise du cannabis (SQDC) in dried flower and pre-roll joint formats. Vert Green Cush is a sativa-dominant strain and Sour Kush is an indica-dominant strain. "At Canopy Growth, we understand the importance of providing the Quebec market with a regionally-exclusive brand," said Kelly Olsen, Vice President of Global Flower Business at Canopy Growth. "Vert cannabis is grown by an experienced community of Quebecois cultivators. We're excited to bring a new offering of local cannabis flower to SQDC shelves."
Tilray Inc., a global pioneer in cannabis research, cultivation, production, and distribution, announced that the Tilray board of directors approved an amendment to the Company's bylaws to reduce the quorum requirement for shareholder meetings from shareholders representing a majority of the voting power of the outstanding shares entitled to vote to one-third of the voting power of the outstanding shares entitled to vote.
Trulieve Cannabis Corp., a leading and top-performing cannabis company based in the United States, announced the opening of two new stores , the Company's 85th and 86th nationwide to commemorate the 50th anniversary of 4/20, the holiday recognizing cannabis culture. The new Florida dispensaries, the Company's 80th and 81st in the state, located in Eustis and Palm Beach Gardens, further demonstrate Trulieve's goal of ensuring direct, reliable access to medical cannabis across its home state.
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