Palm Beach, FL – April 4, 2019 – What has seemed to be the ‘next big step’ for infused products, has finally started to happen. Everyone would gladly bet all their chips that it was only time before the big boys would jump into the retail distribution channel. Well… it was good bet, especially since CBD for medical use is legal in 46 states and CBD derived from hemp rather than marijuana is legal in all states. Recently, this past month of March, CVS announced that it will: “… begin selling hemp-derived CBD products in eight states. The national drug store chain will be marketing the topical cannabidiol products, such as creams, sprays and roll-ons, as “an alternative source of relief,” CVS said in a statement to NBC News. CVS will also be partnering with a company to test and verify the quality of the CBD topicals sold in its drug stores.” NBC News reported that: “ CVS to sell CBD products in 800 stores in 8 states. We are carrying hemp-derived CBD products in select states to help meet consumer demand for alternative care options,” said CVS Health Spokesperson, Mike DeAngelis. The items will be sold in Alabama, California, Colorado, Illinois, Indiana, Kentucky, Maryland and Tennessee.” “It’s a way to reduce the stigma for a product that really doesn’t deserve to be stigmatized,” said a nutritionist and cannabis practitioner.” Active Companies from around the market with current developments this week include: Pyramidion Technology Group, Inc. (OTC:PYTG), Tilray, Inc. (NASDAQ: TLRY), Neptune Wellness Solutions Inc. (NASDAQ: NEPT) (TSX: NEPT), Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF), MariMed Inc. (OTCQB: MRMD).
Shortly thereafter a Fortune article headlined “Walgreens to Clear Shelf Space for CBD Products in 1500 Stores” reported that: “One week after CVS said it would start selling products with the cannabis compound CBD in some of its stores, drug-chain Walgreen Boots Alliance said it would sell CBD-based sprays, creams, and patches in 1,500 stores throughout nine states. The move, first reported by CNBC, will offer cannabis-based products in nine states that have legalized medical marijuana sales : Colorado, Illinois, Indiana, Kentucky, New Mexico, Oregon, Tennessee, South Carolina, and Vermont. Walgreens has not made clear which CBD brands its stores will carry.” The article continued: “Marijuana has been used to relieve pain, digestive and psychological disorders for more than 3,000 years—but the efficacy, safety and legality of the drug are still widely debated,” Walgreens said on a corporate blog post about medical cannabis. “Research on the health benefits of marijuana is ongoing, but current studies have proven that cannabinoid receptors play an important role in many body processes, including metabolic regulation, cravings, pain, anxiety, bone growth and immune function.”
Pyramidion Technology Group, Inc. (OTCPK:PYTG) BREAKING NEWS: NxGen Brands LLC, d/b/a: LeafyWell (LeafyWell.com), a wholly-owned subsidiary of Pyramidion Technology Group, offering a variety of non-THC hemp-derived Cannabidiol (CBD) supplements, is announcing today record-breaking sales for the month of March, 2019.
Due to strong sales during March, 2019, this has enabled revenues for Q1 2019 to have surpassed total sales for the entire last year 2018.
Leafywell (LeafyWell.com) is continuing to ramp up its marketing efforts and plans to launch both print and digital campaigns in the coming quarter.
Some of the increase in sales is due to the roll out of new product lines such as our Pet Treats, Edible Gummies, and our continued growth of Full Spectrum CBD oils, especially CBG Full Spectrum oil.
Carlos Hurtado, Chairman and CEO, explains “We are extremely pleased about our decision in acquiring LeafyWell and selecting Tom Reeves to lead his team in establishing relationships in the CBD space in order to increase our sales and build a highly profitable business. We are on course with having smart ambitious leaders in a sector that is ripe for rapid growth and the LeafyWell brand can take full advantage of the opportunities presented to them because of its implementation of policies and procedures to become a very efficient operating entity.” Read this and more news for PYTG at https://financialnewsmedia.com/news-pytg
In the industry developments and happenings in the market this week include:
Tilray, Inc. (NASDAQ: TLRY) a global leader in cannabis research and production, recently announced its support of two new clinical studies: a pilot study led by Murdoch Children’s Research Institute (MCRI) in Melbourne, to evaluate the feasibility and acceptability of a larger randomized placebo-controlled trial of cannabis extract as a form of treatment for reducing Severe Behavioral Problems (SBP) in pediatric patients with Intellectual Disabilities (ID); and a study with McGill University Health Centre’s Division of Infectious Diseases and Chronic Viral Illness, to examine the effectiveness of medical cannabis on immune activation in People Living with HIV.
Neptune Wellness Solutions Inc. (NASDAQ: NEPT) (TSX: NEPT) recently announced that it completed initial commercial production lots and is now shipping cannabis extracts from its licensed facility in Sherbrooke, Quebec, Canada.
Health Canada issued a standard processing license to Neptune earlier this year. The company completed the required testing and commissioning of its phase 1 (CO2-based) extraction installation and produced its first lots of cannabis extract. Upon successful analysis and testing, the products are now being shipped and invoiced, the company said.
Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) a leading vertically integrated cannabis operator in the United States, recently announced that it completed the acquisition of EC Investment Partners, LLC (“Eureka”). “The acquisition of Eureka cements our foundation in California and positions us well in the largest cannabis consumption market in the U.S.,” said Joseph Lusardi, CEO of Curaleaf. “The closing of this transaction marks an important milestone for Curaleaf, enabling us to enter the highly attractive California market as a vertically integrated operator with plans to expand across the state.”
Curaleaf has the largest footprint of single-branded retail stores in the U.S. and is executing on its strategy of building a national brand in highly populated states. Curaleaf will continue to explore opportunities to open additional locations throughout the state of California in 2019.
MariMed Inc. (OTCQB: MRMD) a leading multi-state cannabis and hemp operator, recently announced an agreement with Ilo™ Vapor whereby MariMed is an exclusive distributor of the company’s flagship product, DabTab™ brand dablets. The product is available now to all cannabis dispensaries in Maryland. It will be introduced to Rhode Island, Massachusetts and Delaware dispensaries later this spring.
First introduced at the MJBizCon conference in Las Vegas in November of 2018, DabTab™ is a completely new way to consume cannabis concentrate that is precision dosed, clean, and delivers vapor, not smoke. DabTab™ preserves all the flavor and effects of conventional dabbing, while also providing a new level of convenience and cleanliness for concentrate consumption.
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