Europe Just Approved First CBD Oil, Paves the Way for Sizable Growth
Palm Beach, FL – September 26, 2019 – The European market is on course to grow 400% over the next four years, according to the Brightfield Group. Better, European regulators just approved GW Pharmaceuticals’ Epidyolex – the first CBD oil to gain approval in Europe. “The approval of cannabidiol oral solution is an important milestone for patients and families whose lives are significantly impacted by these rare, complex and life-long forms of epilepsy,” said Isabella Brambilla, Chairman of the Dravet Syndrome European Federation. “We are very happy that patients will now have access to a much-needed, new treatment option, and one routed through a rigorous clinical trials program and licensed by the EMA.” As Europe wakes up to the CBD opportunity, it’s opening a wide range of opportunity for cannabis companies that have already established launching cannabis products including The Yield Growth Corp. (CSE:BOSS) (OTCQB:BOSQF), Charlotte’s Web Holdings Inc. (CSE:CWEB) (OTCQX:CWBHF), Aurora Cannabis Inc. (NYSE:ACB) (TSX:ACB), Canopy Growth Corporation (TSX:WEED) (NYSE:CGC), and Aphria Inc. (NYSE:APHA) (TSX:APHA).
The Yield Growth Corp. (CSE:BOSS)(OTCQB:BOSQF) BREAKING NEWS:The Yield Growth Corp. just announced that on September 25, 2019 its wholly owned subsidiary W&W Manufacturing entered into a definitive agreement with Melorganics Hellas for the exclusive distribution of Yield’s Wright & Well brand of CBD products in Greece and Cyprus. The agreement grants exclusive distribution rights to Melorganics for an initial fee of CAD $100k for the first three years and continued exclusivity for up to 20 years with minimum annual purchases by Melorganics of CAD $100k. The initial licensing fee is payable after at least 3 Wright & Well products have been registered for sale within the European Union, which is anticipated to take 3 – 6 months. Melorganics is to submit its first order of products within 30 days after the date the 3 products have been registered. Yield’s Wright & Well brand has a line of Ayurveda-inspired CBD infused products that are supported with hemp root oil. This powerful line-up is uniquely formulated to help people move freely by helping to alleviate pain. With proprietary formulations as unique as they are powerful, these products are backed by more than 30 years of Ayurvedic study and hands-on practice with chronic pain sufferers. Each product is formulated with the purest ingredients, nano-precise ratios, and uses carefully selected strains for the most impactful result. “CBD is just starting to take hold in Europe, with both product availability and consumer awareness still quite limited. This is a great opportunity for developed brands to enter and expand through Europe with far less competition than we’re seeing in the U.S.,” says Bethany Gomez, Brightfield Managing Director.
Other related cannabis industry developments include:
Charlotte’s Web Holdings Inc. (CSE:CWEB) (OTCQX:CWBHF) announced that The Vitamin Shoppe, an omni-channel, specialty retailer of nutritional products, has commenced selling the new line of Charlotte’s Web CBD hemp extract-infused CBD gummies in 738 stores across 45 U.S. states. This expands Charlotte’s Web product offerings carried by The Vitamin Shoppe to include CBD hemp extract oil tinctures, liquid capsules, and now gummies. Charlotte’s Web gummies are a popular edible format providing measurable consumption of convenient bite-sized full-spectrum CBD hemp extract. Charlotte’s Web gummies, launched in June of this year, are made with whole-plant extract from its prized hemp genetics featuring synergistic functional ingredients to support specific health related functions including everyday stress, sleep, and recovery from exercise or active lifestyles. “This nationwide pickup of our popular new gummy line by The Vitamin Shoppe is very exciting to report,” said Charlotte’s Web CEO Deanie Elsner. “Working with a trusted retail partner that is dedicated to helping its customers become their best self, allows us to effectively expand our national footprint giving more Americans retail access to our leading CBD hemp extract wellness products. We are thrilled about The Vitamin Shoppe’s decision to expand their offering with our new chewable gummies.”
Aurora Cannabis Inc. (NYSE:ACB) (TSX:ACB) announced that it will hold its Annual General Meeting of shareholders on Friday, November 8th, 2019 at 10:00am MT. All registered shareholders are welcome to attend at the Renaissance Hotel located at 4236 36 St E, Edmonton International Airport, AB T9E 0V4. In conjunction with the Meeting, Aurora has filed its Information Circular and related proxy materials which are available for download under its profile on both SEDAR and EDGAR.
Canopy Growth Corporation (TSX:WEED) (NYSE:CGC) just announced that it has received a license from Health Canada for its KeyLeaf Life Sciences facility in Saskatoon, Saskatchewan. Including the Smiths Falls site and the recently licensed BC Tweed extraction site, Canopy Growth now operates three significant extraction assets to support the throughput required for large scale value-add product development. Canopy Growth recently retrofitted the now fully licensed KeyLeaf facility in Saskatchewan, a company with over 50 years of experience in the extraction industry. This facility is expected to be online in the Fall of 2019 and has the capacity to extract up to 5,000 kilograms of hemp or cannabis biomass per day. The application for the license was submitted under KeyLeaf’s previous name, POS Management Corp. and will be updated in due course. The newly licensed extraction platform is located in close proximity to Canopy Growth’s large-scale outdoor hemp and cannabis grow operations. The Company looks forward to the additional capacity increasing production efficiency, augmenting output volume, and ultimately reducing operational costs for value-add products set to be rolled out in the Canadian recreational and medical markets at the end of calendar year 2019. “With this milestone, we are executing against the vision of making strategic investments today in order to deliver results over the long term,” said Mark Zekulin, CEO, Canopy Growth. “This license will ensure we have the supply of extraction inputs for the medical, CBD, and recreational markets, especially the next generation of value-add, high margin cannabis products here in Canada.”
Aphria Inc. (NYSE:APHA) (TSX:APHA) just announced the launch of its cannabis education program ‘Aphria Educates’. This program is mandated to educate Canadian adults on responsible and safe use of all cannabis products legally available now and in the future. The first Aphria Educates event will be a two-city educational panel in conjunction with Drugs Free Kids Canada (DFK), a Canadian non-profit organization providing parents with evidence-informed information about youth and substance use while promoting frequent, balanced parent-youth discussions about drugs. Entitled Aphria Educates with Drug Free Kids Canada, the panels will focus on furthering awareness around the potential harms of cannabis for youth and help parents navigate the ever-evolving Canadian cannabis landscape. The Aphria Educates with Drugs Free Kids Canada initiative follows the 2018 Charter Agreement entered into by Aphria and DFK solidifying their commitment to ongoing cannabis education. “Cannabis education is a cornerstone of our Corporate Social Responsibility platform and is paramount in everything we do at Aphria Inc. We are proud to launch Aphria Educates, an engaging program that is designed to educate on the safe and responsible use of legal cannabis,” said Irwin D. Simon. “There is no better partner than Drug Free Kids Canada to help kick off this first initiative of Aphria Educates, which we believe will deliver important information and will encourage necessary dialogue among Canadian parents and their children.”
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