Retailers are Racing to Meet Sizable Worldwide Demand for CBD
Palm Beach, FL – June 19, 2019 — According to the Brightfield Group, worldwide CBD sales are expected to soar from $591 million in 2018 to as high as $22 billion by 2022 – a compound growth rate of 147%. All as consumers and retailers clamor for CBD products. Simon Property Group is partnering with Green Growth Brands. CVS will now carry CBD products across the U.S. The Vitamin Shoppe just announced it will sell CBD products. In addition, Abercrombie & Fitch just partnered with Green Growth Brands to sell CBD body care products. Some of the stocks benefiting from the cannabis market boom include Lifestyle Delivery Systems Inc. (CSE:LDS)(OTCQX:LDSYF), CV Sciences Inc. (OTCQB:CVSI), Cresco Labs Inc. (CSE:CL)(OTCQX:CRLBF), Curaleaf Holdings Inc. (CSE:CURA)(OTCQX:CURLF), and Harvest Health & Recreation Inc. (CSE:HARV)(OTCQX:HRVSF).
Lifestyle Delivery Systems Inc. (CSE:LDS)(OTCQX:LDSYF) BREAKING NEWS: Lifestyle Delivery Systems Inc. announced the delivery of its flagship product, CannaStrips to California Herbal Remedies for roll out in collaboration with California power-house brand, LA Kush.
CHR is an award-winning dispensary, located off the 710 freeway in Los Angeles California. CHR has been in business for over 11 years and is the winner of the 2016 Leafly’s dispensary list of the West Coast. The owner of both CHR and the very well-known LA Kush brand have received several awards for their flowers and vape strains in recent years. To promote and increase brand awareness of CannaStrips, CHR has taken delivery of and will include 2,500 ten-packs as a promotional offering to their customers. Each customer that purchases LA Kush product will be bundled with a ten-pack of CannaStrips. Lifestyle Delivery Systems is working with LA Kush on dual advertising campaigns that will be promoted to 82,000 LA Kush Instagram followers and other various media outlets.
President of LDS, Casey Fenwick, stated, “LA Kush’s market presence is undeniable and having CannaStrips marketed along with LA Kush gives CannaStrips instant brand recognition and exposure. It is a great pairing of two completely different products that provides a consumer with options for consuming cannabis. LA Kush sells an immense amount of product and has a huge and loyal customer base. We truly are excited to be working with CHR on this collaborative marketing effort and fully expect that the results of this marketing campaign will bolster the growth of the CannaStrips brand.” . For additional news for Lifestyle Delivery, please visit: https://www.lifestyledeliverysystems.com/lds-press-release
Other cannabis-related developments from around the markets include:
CV Sciences Inc. (OTCQB:CVSI) that a controlled clinical study has demonstrated its product can improve sleep, help reduce appetite, and enhance quality of life in humans. The groundbreaking study is the first-ever of its type, proving that high-quality, hemp CBD oil benefits human lives. Using a randomized, placebo-controlled, double-blind design, 65 overweight but otherwise healthy men and women ingested either one PlusCBD Oil Gold Formula softgel or a placebo containing olive oil every day for six weeks. Subjects followed their normal diet and a routine of low intensity physical activity. After six weeks of supplementation, the study found PlusCBD Oil supplementation can improve self-reported measures of sleep, quality of life and reduce appetite, while demonstrating no adverse effects on standard biomarkers of safety. “Collectively, these seminal findings in healthy subjects demonstrate that PlusCBD Oil supplementation can improve measures of sleep, reduce appetite, and enhance quality of life,” said Hector Lopez, MD, CMO, and co-founder of CAHS. “This study is an important contribution for all stakeholders, as it represents the first randomized clinical trial that we are aware of regarding the safety and efficacy of multi-constituent hemp CBD extract in healthy human subjects, and we hope it will serve as a template for further research into the many potential benefits of this fascinating compound.”
Cresco Labs Inc. (CSE:CL)(OTCQX:CRLBF) announced its new VidaCann medical cannabis dispensaries in the cities of Pensacola and Jacksonville, Florida. With the opening of the new dispensaries, VidaCann now has 12 operating dispensaries throughout the state of Florida. Cresco Labs has entered into an agreement to acquire the ownership interests of VidaCann, one of the largest and most advanced providers of medical cannabis in Florida. The acquisition of VidaCann is expected to close within the next 30 to 90 days, subject to the satisfaction of customary closing conditions including approval by the Florida Department of Health. “Since announcing the acquisition in March, VidaCann has continued to execute on the expansion of its retail footprint,” said Cresco Labs CEO and Co-founder Charlie Bachtell. “The new dispensaries in Pensacola and Jacksonville provide a retail presence in two of the largest cities in Florida, which will improve our ability to capitalize on the very strong growth in the Florida market with more than 10,000 new patients being registered each week. Upon the closing of the acquisition, we project that Cresco Labs will have the fifth largest network of retail dispensaries in the state of Florida, which will provide us with an immediate meaningful presence in this market and an excellent platform for driving future growth. By the end of 2019, we expect to have up to 20 dispensaries operating in Florida, and that number will grow significantly in 2020 when our license converts to an unlimited number of dispensaries.”
Curaleaf Holdings Inc. (CSE:CURA)(OTCQX:CURLF) announced that it completed the acquisition of the Emerald dispensary in Gilbert, Arizona, whose license is held by Absolute Healthcare, Inc., an Arizona non-profit corporation. The signing was announced earlier on May 21, 2019 and the transaction was closed on May 29, 2019. Emerald is the only dispensary licensed to operate in the Town of Gilbert which is located in the Metro Phoenix area. It is one of Arizona’s largest and longest standing medical cannabis retailers, serving over 44,000 unique patients since 2014. 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 Arizona in 2019.
Harvest Health & Recreation Inc. (CSE:HARV)(OTCQX:HRVSF) was awarded a dispensary license to operate in Pasadena (subject to the local Conditional Use Permit process and state regulatory requirements), marking the seventh California license for the fast-growing company. Harvest was among the top-scoring applicants from a pool of 128 applications to obtain licenses in the city, receiving top recognition for its high-level of sophistication, best-in-class experience, and world-renowned team of experts in operating quality-driven retail stores with a focus on bettering the community. “Pasadena’s affluent community and close proximity to the world’s largest cannabis market of Los Angeles, makes it an ideal destination for Harvest’s growing retail operations that focus on high-quality and safe cannabis experiences and education,” said Steve White, Harvest’s CEO. “Pasadena’s extensive application process and rigorous requirements show the city’s commitment to only allowing operations that appeal to the community’s prestigious standards. This is a big win for Harvest as we continue to grow our presence in California and drive premiere retail environments that are safe for consumers introducing the people of Pasadena to our leading products, award-winning storefronts and knowledgeable staff.”
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