CBD sales to grow to $23.7 Billion nationally
Cannabis has quickly become one of the fastest growing industries we’ve seen in quite some time. With Canada legalizing recreational cannabis in 2018, and a growing number of U.S. states approving its recreational and, or medicinal use, sales are just beginning to tick higher. However, within that industry, the CBD industry is just beginning to boom. In fact, a report from Brightfield Group says CBD sales could explode to $23.7 billion by 2023 – a five-year compound annual growth rate (CAGR) of 100%. “The bulk of this growth is coming from large retailers like CVS, Walgreens, and Kroger entering the market and providing that availability to consumers,” says Brightfield Managing Director, Bethany Gomez. That’s opening a wide range of opportunity for companies including The Yield Growth Corp. (CSE:BOSS) (OTCQB:BOSQF), SLANG Worldwide Inc. (CSE:SLNG)(OTCPK:SLGWF), Green Thumb Industries Inc. (CSE:GTII)(OTCQX:GTBIF), Harvest Health & Recreation Inc. (CSE:HARV)(OTCQX:HTHHF), and Origin House (CSE:OH)(OTCQX:ORHOF).
The Yield Growth Corp. (CSE:BOSS)(OTCQB:BOSQF) BREAKING NEWS: The Yield Growth Corp. announced it has formed an alliance with ParcelPal Technology Inc. for same day and on demand delivery of hemp-based cosmetics. This initiative between Yield Growth and ParcelPal will commence in Vancouver, and it is expected that additional cities will be rapidly added to this distribution network across Canada. Urban Juve’s customers will be able to purchase through Urban Juve’s website (www.urbanjuve.com) and ParcelPal will create an exclusive marketplace applications. President and CEO of The Yield Growth Corp. Penny Green states “This new agreement is part of our continued efforts to serve our customers as seamlessly as possible,” says Penny Green, CEO of Yield Growth. “ParcelPal is a great service, and our partnership will lay the groundwork for us to eventually offer same-day delivery service for pain management cannabis topicals and other cannabis products in jurisdictions where they’re legal.” For more information on BOSS, please visit: http://yieldgrowth.com/
Other cannabis-related developments from around the markets include:
SLANG Worldwide Inc. (CSE:SLNG)(OTCPK:SLGWF) announced that its RESERVE line of vaporizer cartridges is now on sale in the State of Florida through Trulieve Cannabis Corp. RESERVE is the first SLANG product to be offered in Florida under its strategic partnership with Trulieve announced in February 2019. As Florida’s largest fully integrated medical cannabis company, Trulieve is offering RESERVE at all 29 of its licensed dispensaries across the state. “Our Trulieve relationship is off to a great start. This product launch is an important milestone, and the first of many we look forward to reaching in Florida,” said Peter Miller, CEO of SLANG. “We expect RESERVE to be very well received in Florida by medical cannabis patients who are seeking a strain-specific, repeatable experience at an affordable price.” “Expanding patient access to high-quality, natural relief in safe, reliable, and innovative forms is an important factor in deciding who we partner with and what products we offer to patients. Our partnership with SLANG allows us to continue providing patients with an expanded variety of high-quality medication,” said Kim Rivers, CEO of Trulieve. “We know patients in Florida will benefit greatly from their award-winning products.”
Green Thumb Industries Inc. (CSE:GTII)(OTCQX:GTBIF), a leading national cannabis consumer packaged goods company and owner of Rise and Essence retail stores, announced it will open its fourth retail location in Florida, Rise Oviedo, the community’s first cannabis store, on July 9, 2019. This is GTI’s 26th open location in the country. Rise Deerfield Beach, Rise Pinellas Park and Rise Bonita Springs all opened earlier this year, and GTI has a retail footprint for up to 35 stores throughout Florida. The company owns and operates a manufacturing facility in Homestead where it cultivates and produces GTI’s branded cannabis products including Rhythm and The Feel Collection. “We are honored to be the first company to provide access to medical cannabis in Oviedo and to help Floridians exercise their right to wellness,” said GTI Founder and Chief Executive Officer Ben Kovler. “Our Rise™ stores provide exceptional customer care and we’re thrilled to serve the people of Oviedo and surrounding communities.”
Harvest Health & Recreation Inc. (CSE:HARV)(OTCQX:HTHHF) announced it will open its compassion center, Harvest of Williston, for qualifying patients and caregivers today. Solidifying Harvest’s presence in the state, the North Dakota Department of Health (NDDoH) Division of Medical Marijuana previously awarded Harvest two medical dispensary locations, for the Williston location and an upcoming compassion center in Bismarck. Harvest, known for top operational standards, best-in-class experiences and products and expert teams in developing trusted, quality-driven retail stores with a focus on bettering the community, received the highest score on its application in Williston. Harvest of Williston, located at 120 26th Street East, Unit #500, will operate under North Dakota Century Code and offer products direct from registered North Dakota manufacturing facilities under the Medical Marijuana Program. “We are proud to bring our expertise to North Dakota and deliver on our promise to provide patients across the country with high-quality medicinal products and expert staff,” said Harvest CEO Steve White. “We share North Dakota’s commitment and dedication to only allowing the highest standards of operations in the state. We are thrilled to partner with them to open Williston and for our upcoming Bismarck location.”
Origin House (CSE:OH)(OTCQX:ORHOF) and Trichome Financial Corp. are pleased to announce that each of 22 Capital and Trichome Financial have received unanimous approval from their respective shareholders for their announced amalgamation under the provisions of the Business Corporations Act (Ontario) that will result in a reverse take-over of 22 Capital by the shareholders of Trichome Financial. The Transaction, if completed, will constitute 22 Capital’s “Qualifying Transaction” as such term is defined in Policy 2.4 of the TSX Venture Exchange. Currently a subsidiary of CannaRoyalty Corp. d/b/a Origin House, Trichome Financial is a private corporation. Each of Trichome Financial and Origin House exists under the laws of the Province of Ontario. The Transaction is being undertaken pursuant to the terms and conditions of the amalgamation agreement between 22 Capital and Trichome Financial dated November 13, 2018, as amended January 30, 2019, April 5, 2019 and May 27, 2019. Final approval of the Transaction is subject to the fulfillment of certain conditions set out in the Exchange’s conditional listing approval letter in respect of the Transaction. Trichome Financial expects to satisfy such conditions, including the closing of its subscription receipts financing, on or before August 9, 2019.
SOURCE FNM