Cannabis Industry is Exploding as Cannabidiol (CBD) Products Become More Mainstream
Palm Beach, FL – (September 27, 2018) – The recreational and medical marijuana “revolution” is well underway as the entire cannabis industry continues to expand at a rapid pace and sales have continued to grow steadily. Cannabis extracts such as hemp and Cannabidiol (CBD) oil are some of the more interesting, and perhaps promising, segments of the legal marijuana industry currently enjoying wild attention as it matures before the world’s eyes. The industry has seen headlines from Fortune 500 companies admitting they are pondering ways to introduce CBD into various products, including beverages such as soda and alcohol. On the other end of the spectrum, there are even uses beneficial to pets. The CBD space is pacing to become a billion-dollar market in the United States alone by the turn of the decade as relaxed legal restrictions and an increasingly open consumer base grow hand in hand. Active Companies from around the market with current developments this week include: Pyramidion Technology Group, Inc. (OTC:PYTG), CV Sciences Inc. (OTC:CVSI), Cronos Group Inc. (NASDAQ:CRON), HEXO Corp. (TSX:HEXO) (OTC:HYYDF), INSYS Therapeutics Inc. (NASDAQ: INSY).
Pyramidion Technology Group, Inc. (OTCPK:PYTG) BREAKING NEWS: Pyramidion Technology Group today announced today the signing of the definitive agreement to acquire 100% of NxGen Brands, LLC (“NxGen Brands”) – specialists in CBD (Cannabinoid) extracts and related products.
Doing business as Leafywell, a NxGen Brands company, produces CBD containing products such as CBD oils, tinctures, topical lotions, topical creams, and edible candies. Upon signing the definitive agreement, PYTG will acquire NxGen Brands and all of its assets, all domains including www.LeafyWell.com and all intellectual properties.
CEO of PYTG, Carlos Hurtado, states “These are some of the most exciting days we have had thus far – all of the work we have been doing all along including onboarding medical experts to our Board of Advisors has led us to this acquisition affording us the ability to forge ahead with the acquisition of Leafywell. Leafywell stands apart from other companies in that they organically grow, harvest, refine, and produce CBD extracts for integration into a variety of top-notch delivery methods such as oils, tinctures, lotions, and edibles. These products are of the best we have seen and they have the potential to shape the industry.”
Leafywell, a Denver, Colorado based company, is wholly responsible for producing their CBD containing products from start to finish – from plant growing to harvesting and from crop to product – all in the USA. Cannabis has been considered as one of the, if not the, largest cash crops in the United States, with a future estimated growth rate of 700% by the end of 2018. Overall, the industry has been valued at upwards of 142 billion dollars – potentially double the value of the global coffee market, according to some recent figures. Website: www.LeafyWell.com
Researchers have produced findings related to the effectiveness of CBD extract containing products and its potential use in the treatment of a variety of conditions and ailments such as rheumatoid arthritis, diabetes, alcoholism, post-traumatic stress disorder, epilepsy, antibiotic-resistant infections, neurological disorders, and muscular dystrophy. Field specific experts suggest that this is just the beginning of CBD extract related research.
Dr. Michael McKenzie, MD with a practice specialty in family medicine, in response to the question, “What is your opinion of the use of Cannabinoid containing products?”, Dr. McKenzie responded, “We are on the brink of something potentially life changing for many individuals and for our society as a whole. Research has demonstrated many positive effects of the use of CBD containing products and, as a community, we expect this research to continue.” He continues on to add, “I am truly honored to be a part of the Advisory Board for PYTG and I can foresee making contributions to the direction of product formulation based on my experience in medicine and treating patients. We have something special here with LeafyWell products and I look forward to the great things to come out of our future interactions with the highly-respected and widely-recognized board members.” Read this and more news for PYTG at https://www.financialnewsmedia.com/news-pytg
In the industry developments and happenings in the market this week include:
HEXO Corp. (TSX:HEXO.TO) (OTCPK:HYYDF) recently announced plans to establish a Eurozone processing, production and distribution centre in Greece. The partnership with Greek company Qannabos (“QNBS”) will catalyze a vertically integrated cannabis enterprise to capitalize on the current medical markets. HEXO’s plan to establish operations in Greece marks the Company’s first foray into the European cannabis market. The move will provide the company presence in Europe to supply a full suite of brands in France, the United Kingdom, and other European markets once regulations permit. “I’m excited to add European distribution capabilities for HEXO and its joint venture partners,” said Sebastien St-Louis, HEXO Corp.’s CEO and co-founder. “By bringing brands powered by HEXO, our infrastructure and our know-how to Europe, we will be well prepared to serve a burgeoning market. This new capability will allow us to bring even more value to our hub and spoke partners in the beverage, cosmetics, and food space by giving them access to licensed cannabis infrastructure and brands in Europe. Additionally, HEXO believes that we will quickly be able to leverage our joint venture partners’ networks to take significant first mover advantage and market share.”
CV Sciences Inc. (OTCQB:CVSI) recently announced that it has introduced PlusCBD Oil™ Gummies at the Natural Product Expo East 2018. A new category of PlusCBD Oil™ products, PlusCBD Oil™ Gummies are offered in two tasty flavors, Cherry Mango and Citrus Punch. A line extension of our Gold Formula line with no artificial ingredients, each gummy contains 5 mg of CBD and a mere 1.5 g of sugar. Gluten free, vegan friendly, and non-GMO, these new products support healthy balance of the body and mind. “We are pleased to introduce PlusCBD Oil™ Gummies to our existing line of industry leading hemp extract products that include balms, sprays, drops, capsules, and softgels,” stated Joseph Dowling, Chief Executive Officer of CV Sciences. “We are committed to innovation of our PlusCBD Oil™ products, and as the demand for CBD infused products continues to grow, it is important to expand our wide variety of products to suit all customer preferences. We foresee PlusCBD Oil™ Gummies being a solid revenue driving category for our Company.”
Cronos Group Inc. (NASDAQ:CRON) and Aleafia Health Inc. (TSX:ALEF.TO) (OTCQX:ALEAF) recently announced the commencement of a joint medical cannabis study to improve the management and treatment of insomnia and daytime sleepiness. The study is funded in part by Peace Naturals Project Inc., a licensed producer of medical cannabis that is wholly owned by Cronos Group. The study will be led by physicians practicing within the Canabo Medical Clinic network, which is wholly owned by Aleafia. According to a July 2017 report from the Canadian Centre on Substance Use and Addiction, entitled Drug Summary: Prescription Sedatives, 11.4 per cent of adults aged 25 and older had used a prescription sedative in the past year. The study will aim to assist in the treatment of insomnia and the development of non-addictive, natural sleep aids. “Aleafia is excited to participate in a study with Cronos Group, a company with a firm commitment to patient health. For far too long, the answer to a patient’s sleeping disorder or chronic pain has been a prescription and a bottle of pills,” said Aleafia Chief Medical Officer Dr. Michael Verbora.
INSYS Therapeutics Inc. (NASDAQ:INSY) earlier this week announced it completed a human proof-of-concept study of dronabinol inhalation using a novel and patented breath-actuated device licensed exclusively from U.K.-based Senzer Ltd. “This pharmacokinetic study provides evidence of our unique drug-device combination’s viability as a mechanism to deliver dronabinol into the distal lung for rapid systemic absorption,” said Steve Sherman, senior vice president of regulatory affairs for INSYS Therapeutics. “Its completion represents the next step in our clinical development program for dronabinol inhalation as an investigational product concept, which has future potential in the treatment of a variety of conditions, including anorexia in cancer.” The study enrolled 36 subjects and compared a single 0.35 mg dose of inhaled dronabinol to a single 5.0 mg dose of oral dronabinol (Marinol capsule). The findings indicate that inhaled dronabinol has a faster absorption rate at a fraction of the oral dose. The difference in Tmax––the time to peak concentration (Cmax) of drug in blood plasma––was shorter with the test product: 2 minutes with the inhaled dronabinol compared to 1.53 hours with the oral dronabinol. In addition, Cmax with both formulations was similar, despite the considerable difference in doses.
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