June 24, 2020 /PRNewswire/ — Of the greater than 85 cannabinoids to this point recognized within the hashish plant, CBD is the second commonest after tetrahydrocannabinol (THC) however is within the information increasingly on daily basis. Global Market Insights, Inc. has recently added a new report on cannabidiol (CBD) market which estimates the worldwide market valuation for cannabidiol will cross US$ 89 billion by 2026. Growing medical functions and rising gross sales of cannabidiol derived merchandise in retail shops are two main elements supplementing the market progress. The report mentioned: “After passing the Farm Bill in 2018, there has been a significant demand for CBD products across the globe especially in developed countries such as the U.S., FranceCanada and Netherlands among others. The sales of CBD products are also increasing rapidly as cannabidiol-based products contain trace amounts of THC (psychoactive compound) and varied amounts of CBD. Also, many cannabidiol product manufacturing companies have partnered with big retail stores across countries which is expected to double the sales… According to this GMI report, the neurological conditions application segment is projected to grow with a considerable CAGR of 51.8% during the forecast timeframe. Cannabidiol has been proven to reduce the seizures and nausea associated with few of the neurological conditions such as Parkinson’s disease, Alzheimer’s disease, epilepsy and others. There around 5.5 million individuals in the U.S. suffering from Alzheimer’s disease and around 1.2% of the total U.S. population suffers from epilepsy. Such increasing incidences of neurological disorders will aid in augmenting the CBD market growth.”  Active corporations within the Cannabis market this week embody Cannabis Strategic Ventures, Inc. (OTCQB: NUGS), Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB), OrganiGram Holdings Inc. (NASDAQ: OGI) (TSX: OGI), Medical Marijuana, Inc. (OTCPK: MJNA), Puration, Inc. (OTCPK: PURA).

The report continued: “By source, the CBD market is segmented into marijuana and hemp. Hemp segment is expected to grow with a higher CAGR of 53.1% and is predicted to continue this trend throughout the forecast timeframe. Hemp consists trace amounts of THC, whereas CBD is present in huge amounts, thus CBD based products are being utilized for treating various ailments. Additionally, majority of the countries have only legalized farming of hemp instead of marijuana as it contains THC which is a psychoactive substance. Thus, owing to the aforementioned factors, the market is expected to gain traction during the coming years.

Cannabis Strategic Ventures, Inc. (OTCQB:NUGS) BREAKING NEWS:  Cannabis Strategic Ventures Announces Record $400K Sales Day, Record Month Underway – Cannabis Strategic Ventures, an emerging leader in the U.S. cannabis marketplace, is pleased to report continued robust growth in total volume of cannabis sales and revenues from cannabis sales during the month of June, which is now on pace to set a new Company record for cannabis sales performance.

This strong performance was aided by a single day (June 4) during which the Company booked $400,000 in sales – its largest ever single day of sales. Management notes that the Company booked a record $929K in sales in May (7% more than its April sales total, which was also a monthly sales record, itself). The Company had already amassed nearly $900K in June sales with 30% of the month remaining.

Simon Yu, CEO of Cannabis Strategic Ventures, stated, “We continue to benefit from our decision in March to get more aggressive rather than retrench in response to the coronavirus crisis. The cannabis shortage we have seen in California since that time has afforded us a golden opportunity to sharply expand our distribution footprint and nurture a widening network of key distributor relationships. June is on pace to be our third consecutive record sales month. Given our strong positioning and expanding production capacity, we anticipate continued robust growth ahead.”

The Company continues to put money into increasing its manufacturing capability given extremely constructive pricing tendencies and tight provide facet market situations within the California hashish market. Management notes that the Company has elevated its measurement of harvest by as a lot as 2.5x and is at present negotiating a deal via which it may be greater than doubled once more, as outlined in its release dated June 17.

In addition, due to robust execution on product high quality and develop operations, the Company has progressed from reserving gross sales properly under trade normal pricing to promoting at an 11% premium to benchmarks over latest months. Volume bought additionally continues to rise sharply on a week-over-week, month-over-month, and quarter-over-quarter foundation.

“We are scaling up in healthy response to signals from the market telling us loud and clear that we are on the right track,” continued Yu. “We anticipate all these trends will continue to characterize our operational performance during the second half of the year.”  

Other latest developments and main influences within the hashish trade embody:

OrganiGram Holdings Inc. (NASDAQ: OGI) (TSX: OGI) the dad or mum firm of Organigram Inc. (the “Company” or “Organigram”), a number one licensed producer of hashish, recently announced that it has entered right into a multi-year settlement for provide of dried flower to considered one of Israel’s largest and most established medical hashish producers, Canndoc Ltd. (“Canndoc”), a subsidiary of InterCure Ltd.

Canndoc has been a pioneer in pharmaceutical-grade hashish for greater than 12 years. Its GMP-approved medical hashish merchandise are bought in pharmacies in Israel, and it holds worldwide cultivation and distribution agreements within the European Union and Canada.

Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB) the Canadian firm defining the way forward for cannabinoids worldwide, recently provided a progress replace on its Business Transformation Plan that was beforehand communicated February 6, 2020 . “Across our organization we continue to take decisive action and execute on our previously announced Business Transformation Plan,” acknowledged Michael Singer , Executive Chairman and Interim CEO of Aurora. “With today’s announcement we have achieved our stated SG&A run-rate target and expect to operate at approximately $42 million for the first quarter of fiscal 2021. The further cost savings and margin improvement to be realized from our facility rationalization plan is another example of our commitment to deliver greater efficiency throughout the business.”

Puration, Inc. (OTCPK: PURA) recently released its 12th weekly Coronavirus replace. The Texas financial reopening is displaying indicators of pressure. Recently, Texas noticed file new circumstances and native information sources have been reporting a spike in hospitalization.  PURA is constant with its efforts reported final week to start restocking stock of its EVERx CBD Sports Water. PURA loved sustained gross sales via the March and April shutdowns and instantly redistributed its present stock to assist demand as soon as the economic system in Texas reopened in May. PURA reported $2.7 million in annual gross sales final 12 months and $800,000 within the first quarter of 2020. To insure in opposition to the potential for one other potential shutdown, partially or complete, PURA is speeding to full one other manufacturing run of EVERx.

Medical Marijuana, Inc. (OTCPK: MJNA) the first-ever publicly traded hashish firm in the United States that launched the world’s first-ever cannabis-derived nutraceutical merchandise, manufacturers and provide chain, announced that its funding firm AXIM® Biotechnologies, Inc.  (“AXIM® Biotech” or “AXIM”) has expanded its analysis division via the institution of a state-of-the-art laboratory within the biotechnology trade hub of San Diego, Calif. Additionally, revered scientist Dr. Sergei Svarovsky will lead the oncology-focused analysis staff as the Chief Scientific Officer and founding father of AXIM’s subsidiary, Sapphire Biotech, Inc. (“Sapphire”).

“This new laboratory is a giant step forward for AXIM to bring its research completely in-house and continue its scientific discoveries at an accelerated pace,” mentioned Dr. Stuart Titus, CEO of Medical Marijuana, Inc. “We are excited to see further innovations from the team to be led by well-recognized researcher, Dr. Svarovsky.”

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