Market Research Company Stands by $22 Billion by 2022 CBD Market Projection
PALM BEACH, Florida, Feb. 26, 2019 /PRNewswire/ -- When The Brightfield Group released its projections for CBD markets, the Farm Bill was yet to become law and there was some push-back by observers. Brightfield's report, released last September 2018, their headline was: "Hemp CBD Market to Reach $22 Billion By 2022: Outpacing the Rest of the Cannabis Market Combined". That was an unexpected figure given prior projections, but the company has repeatedly stood by its projections. The company publicly responded: "Many were surprised to see our team release numbers that, on their surface, appear to be very much out of step with those seen prior to the release of our 2018 CBD study. We recognize that these estimates are shocking, and we stand by them. Hemp-derived CBD has been gaining huge momentum in the shadows of its oft-spoken about cousin, marijuana, allowing its growth to be largely overlooked - both by analysts in the nutraceuticals industry, medical industry, and cannabis industry We believe the hemp CBD market is going to skyrocket and is here to stay. Readers can rest assured that our experienced analysts and a vast pool of data support these market sizes and growth figures, despite the risks, barriers, and competitors facing hemp CBD products. Active companies in the markets this week include The Yield Growth Corp. (CSE:BOSS) (OTC:BOSQF), Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB), 1933 Industries Inc. (CSE: TGIF) (OTC: TGIFF), Cannex Capital Holdings Inc. (CSE: CNNX) (OTC: CNXXF), MedMen Enterprises Inc. (CSE: MMEN) (OTC: MMNFF).
Brightfield again stood firm in another public announcement: "Our forecasts are amongst the highest and we stand behind them. We have interviewed hundreds of people in the industry, surveyed thousands of consumers, conducted market analysis across literally millions of data points. We are a team of highly conservative analysts and we did not take this lightly – (we) honestly believe that these are conservative numbers. We have no rose-colored glasses in terms of the bizarre and challenging regulatory framework that surround this industry, it will always be two steps forward, one step back. There are sure to be some problematic regulations and bumps along the way. But there is too much momentum, too much demand and too much potential for this industry not to explode."
The Yield Growth Corp. (CSE:BOSS) (OTCPK:BOSQF) BREAKING NEWS: Yield Growth Corp is pleased to announce that its wholly-owned subsidiary, Urban Juve Provisions Inc., had its products selected for inclusion in gift bags given to the Awards presenters during a pre-Oscars event at the Four Seasons Hotel Los Angeles at Beverly Hills on Saturday. The bags included Urban Juve's unisex lip balm and anti-aging serum, both of which are infused with hemp root oil extracted using the company's patent-pending method.
"The opportunity to connect with this year's awards presenters is an exciting one for Urban Juve. We've received tremendous interest in the Urban Juve product line and are pleased to have the opportunity to introduce this influential group to our Ayurvedic products," says Urban Juve president Sandi Lesueur. "This is a unique opportunity to gain exposure for our hemp-root oil infused goods, further generating interest and understanding of our unique products." Urban Juve is set to unveil as many as 50 products this year for sale online and at retailers throughout North America. Read this and more news for The Yield Growth Corp. at: https://www.financialnewsmedia.com/news-boss
Other recent developments from yesterday and major influences in the cannabis/CBD industry include:
Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB) On February 25, the company announced that both its Aurora Sky and MedReleaf Bradford facilities are now fully licensed by Health Canada for the production and sale of cannabis and cannabis derivative products.
"The rapid scale-up of our production capacity - with our Sky and Bradford facilities specifically adding over 128,000 kg per year in capacity - is resulting in significant increases in product availability across our domestic medical and consumer, as well as our international market segments, over the coming months," said Terry Booth, CEO of Aurora. "Current production at Aurora Sky, with recent harvests exceeding target yields, validates our production philosophy and our investment in high-tech, highly automated facilities. MedReleaf Bradford employs best practices identified during the integration of the Aurora and MedReleaf organizations, and is consistently delivering exceptional yields and high-quality product that has resonated well in both the medical and consumer markets."
1933 Industries Inc. (CSE: TGIF) (OTCQX: TGIFF) On February 25, the company, a licensed cultivator and producer of cannabis flower and concentrates and manufacturer of hemp-derived CBD wellness products, announced that it has engaged professional athlete and mixed martial arts fighter ("MMA"), Ms. Sarah Moras, as a Canna Hemp™ sponsored athlete for a six-month engagement, promoting the Company's Action Sports Division and representing the Canna HempX™ brand.
Infused MFG. ("Infused"), a subsidiary of the Company and manufacturer of Canna HempX™ branded products, has established a new Action Sports Division and will be working with professional athletes to market its cannabinoid ("CBD") sports recovery cream. First launched in collaboration with Grizzly Griptape LLC in 2018, the Canna Hemp™ cream has seen a surge in interest from the skateboarding community and is now branching out to attract the mixed martial arts sports division.
Cannex Capital Holdings Inc. (CSE: CNNX) (OTCQX: CNXXF) On February 25, the company announced that it has signed a binding letter agreement (the "Agreement") to acquire 100% of San Diego, California based Pure Ratios Holdings, Inc. ("Pure Ratios"), (the "Transaction") in a cash and stock transaction.
Pursuant to the Agreement, the Company will pay Pure Ratios' shareholders total consideration of up US$2,000,000 in cash, 3,500,000 shares of Cannex stock, US$2,500,000 of contingent cash consideration and the assumption of US$500,000 of Pure Ratios' existing debt for total maximum consideration of US$8,000,000. Upon closing of the Transaction Cannex will pay the Pure Ratios' shareholders US$1,4000,000 in cash with an additional US$100,000 per month for 6 months for total cash consideration of US$2,000,000 and will issue 3,500,000 shares of Cannex. All shares issued in the Transaction will be subject to a statutory Canadian hold‐ period of four months and a day from the date of issuance.
MedMen Enterprises Inc. (CSE: MMEN.CN) (OTCQX: MMNFF) On February 25, the company announced the debut of a disruptive new commercial that chronicles the American history of cannabis. Supported by the most expansive integrated marketing campaign the company has executed to date, The New Normal is directed by Academy Award-winning storyteller Spike Jonze and features actor Jesse Williams, best known for his longstanding activism and starring role in Grey's Anatomy. The ad furthers MedMen's vision where legalized and regulated cannabis creates a safer, healthier and happier world. Founded in 2010, MedMen is known for its disruptive advertising campaigns, innovative approach to cannabis retail and progressive legalization efforts.
The diverse creative team behind the project includes actor Jesse Williams, director Spike Jonze, Academy-Award nominated cinematographer Bradford Young and production designer James Chinlund, who is currently working on the upcoming Lion King movie.
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