Cannabis Companies Ramp Up Diversified Product Development as CBD Industry Explodes Beyond Expectations
Palm Beach, FL – (October 25, 2018) – For some time now, experts have predicted that if the cannabis industry expands at its current rate, the U.S. market alone will reach $20 Billion in revenues by 2020. But it turns out that one market is spinning off into a mega-industry of its own: according to a new estimate from cannabis industry analysts the Brightfield Group, the hemp-CBD market by itself could hit $22 billion by 2022. CBD, a non-psychoactive cannabinoid found in cannabis, has had a steady in popularity over the past couple of years and has jumped well beyond many expectations. Hemp-derived CBD is included in most products nowadays, including edibles and even treats for pets. Where it’s legal to do so, athletes use CBD oil for pain relief after a rough day at training, pet owners give CBD treats to their dogs and cats for de-stressing, and people take a swig of CBD-infused drinks for a quick energy boost. Active cannabis companies in the markets this week include PotNetwork Holdings, Inc. (OTC:POTN), Pyramidion Technology Group, Inc. (OTC:PYTG), Sipp Industries, Inc. (OTC:SIPC), Puration, Inc. (OTC:PURA), Namaste Technologies Inc. (TSX-V:N) (OTC:NXTTF).
PotNetwork Holdings, Inc. (OTCPK:POTN) BREAKING NEWS: PotNetwork Holdings announced today that Kevin Hagen, President of its subsidiary, First Capital Venture Co., owner of Diamond CBD, Inc., has been appointed as new Chief Executive Officer effective immediately.
Former CEO, Dr. Richard Goulding, assumes the new role of Chief Medical Officer, spearheading new product development and clinical testing of new proprietary products. Dr. Goulding will devote his time solely to this role, terminating any involvement with other entrepreneurial initiatives and affiliations, private or public, in the CBD industry. Dr. Goulding will focus on product development, in an effort to expand and enhance the Company’s offerings.
Kevin Hagen, new CEO, stated, “We want to thank Dr. Goulding for meeting the considerable demands in the past of being both our CEO, and Chairman of our medical advisory board. We are certain that as Chief Medical Officer, he will assist us in navigating the complexities we face with our new hemp-derived CBD product initiatives, as he works with our other advisory doctors, scientists and specialist legal counsel.” He added, “Since early 2017 we have been building our brand, consumer base, and product line. As we close 2018 and enter 2019, we plan to become a more robust company, with solid distribution and sales, upon which we can continue to build more brands and penetrate more markets. The achievement of long-term shareholder value is our goal, not short-term stock gains. We have our eyes fixed on getting to NASDAQ in the years ahead, which is a worthy goal for any early stage public company.” Read this and more news for POTN at: https://financialnewsmedia.com/news-potn
Other recent developments in the cannabis industry include:
Pyramidion Technology Group, Inc. (OTCPK:PYTG), yesterday announced the execution of the closing of the acquisition of NxGen Brands, LLC (“NxGen”) of Denver, Colorado. PYTG officially owns NxGen operations, brands, marketplace and is currently now a subsidiary of Pyramidion Technology Group, Inc. NxGen Brands, established CBD alternative medicine and natural nutraceutical products, owned, and is doing business as, LeafyWell (http://www.LeafyWell.com). PYTG’s acquisition of NxGen Brands includes the acquisition of LeafyWell and there have been reports of significant additions to the company’s advisory board to now include experienced medical professionals to serve active roles in shaping the company’s direction and product lines.
Sipp Industries, Inc. (OTCPK:SIPC), a multifaceted corporation specializing in technology, manufacturing and distribution of commercial and consumer products, is excited to announce the highly anticipated inaugural launch of its Hemp IPA beer, Major Hemp H-IPA, in cans. The Company received confirmation from the TTB yesterday that the label for its new Hemp IPA beer has been approved, completing the final step in the regulatory process which permits individual containers of beer to be sold to consumers. This milestone achievement marks the beginning of a new era for Sipp Industries, as it continues its quest to develop a diverse lineup of unique craft beers to build around its current pair of Hemp-infused Brown Ale and IPA beers.
Puration, Inc. (OTCPK:PURA) this week announced its EVERx CBD Sports Water will be available for purchase online soon. The online shopping site will include an option to purchase EVERx with cryptocurrency. The online sales will augment the current availability of EVERx at retail outlets. The company recently announced updating the EVERx packaging to include a new EVERx logo and labels. The new packaging will also include a 4-pack configuration of EVERx bottles permitting for easier and more affordable shipping in fulfillment of online sales.
Namaste Technologies Inc. (TSX-V:N) (OTCQB:NXTTF) has filed a final short-form prospectus in connection with its bought deal offering of 15 million units of the company at $3 per unit previously announced on Sept. 26, 2018. The prospectus has been filed in each of the provinces of Canada other than Quebec. The company and the underwriters have also entered into an amended and restated underwriting agreement amending the terms of the warrants issuable in connection with the units, and pursuant to the exercise of the underwriters’ compensation options, such that: 1. The units will consist of three-quarters of one common share purchase warrant (from one-half); 2. Each whole warrant will be exercisable at $3.15 per common share (from $3.50); 3. Each warrant will be exercisable for a period of 60 months (from 48 months).
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