Palm Beach, FL – October 24, 2019 — CBD retail sales in the U.S. are expected to soar 133% this year $1 billion, says the 2019 Hemp & CBD Industry Factbook. By 2024, sales could balloon to $10 billion. Helping to drive those potential sales are retailers that are struggling to keep supplies on the shelves. To date, Neiman Marcus, Sephora, Vitamin Shoppe, Kroger, Barney’s DSW, CVS, American Eagle, and Walgreen’s are selling CBD products. Shopify is now even offering features for U.S. retailers to establish on an online presence. Better, support for legalization of cannabis is exploding. A Gallup survey found that 66% of Americans are in favor of legalization. That’s up from just 60% in 2016 in recent months for example. As the story continues to strengthen, it’s opening a wide range of opportunity for companies including The Yield Growth Corp. (CSE:BOSS) (OTCQB:BOSQF), Aphria Inc. (NYSE:APHA)(TSX:APHA), Aurora Cannabis Inc. (NYSE:ACB)(TSX:ACB), OrganiGram Holdings Inc. (TSX-V:OGI)(NASDAQ:OGI), and Canopy Growth Corporation (TSX:WEED)(NYSE:CGC).
The Yield Growth Corp. (CSE:BOSS)(OTCQB:BOSQF) BREAKING NEWS: The Yield Growth Corp. just announced the launch of an additional online strategy for our flagship brand, Urban Juve, with a definitive agreement signed with performance marketing company Green Space Worldwide Inc. to market Urban Juve’s product bundles across all facets of digital media, leveraging their internal media buying teams and rolodex of celebrity influencers. Green Space’s technology suite includes extensive data-backed advertising campaigns that are designed to drive sales and higher conversion. The agreement allows for Green Space to provide Urban Juve with explosive customer acquisition within a performance-based model strictly focused on the online direct-to-consumer channel. Working with Green Space, Yield Growth now has a dedicated, strategic team that will build off an already successful brand in Urban Juve. “We are pleased to fit Green Space’s criteria to partner with on this model, which de-risks our online advertising strategy,” says Yield Growth CEO Penny Green. “We plan to roll out a similar marketing strategy for all of our CBD and edible mushroom lines.”
“Green Space Worldwide has a very select roster of clients exclusively in the health and wellness industry. Given our focus is on hemp and cannabis derived wellness products, we are ecstatic to have found a leading brand such as Urban Juve in the emerging luxury wellness vertical. Our team speaks the language of conversion and sales, not clicks and impressions. We look forward to a long, growth-oriented partnership with the forward thinking Yield Growth team,” says George Aizpurua, CEO of Green Space Worldwide.
Other cannabis-related developments from around the markets include:
Aphria Inc. (NYSE:APHA)(TSX:APHA) reported its results for the first quarter ended August 31, 2019. All amounts are expressed in thousands of Canadian dollars, unless otherwise noted and except for per gram, kilogram, kilogram equivalents, and per share amounts. “We are pleased to report a second consecutive quarter of profitable growth with strong contribution from our Canadian cannabis operations. Our success was also driven by our international business and the strength and growth of our brands, particularly Broken Coast, despite a small fire at our British Columbia facility at the end of the quarter. This solid start to the year keeps us on track to achieve our fiscal year 2020 financial outlook,” stated Irwin D. Simon. “Going forward, we remain focused on our highest-return priorities both in Canada and internationally as our team furthers the development of our medical and adult-use cannabis brands to drive growth through innovation and return value to shareholders.” Net revenue of $126.1 million in the first quarter, an increase of 849% from prior year quarter and decrease of 2% from prior quarter. Revenue for adult-use cannabis of $20.0 million in the first quarter, an increase of 8% from prior quarter. Net income of $16.4 million and adjusted EBITDA of $1.0 million in the first quarter. Adjusted EBITDA from cannabis operations of $1.3 million in the first quarter.
Aurora Cannabis Inc. (NYSE:ACB)(TSX:ACB) just announced plans for the roll-out of vapes, concentrates, and edibles when they are permitted for sale to consumers in December. The Company has prioritized its resources to prepare for a successful initial launch that will support an ongoing replenishment strategy to help ensure consumers across Canada will have access to a diverse portfolio of high-quality derivative products they want to buy. “Aurora’s Product Development and Insights teams have done tremendous work to formulate new products in a variety of formats that we think will exceed consumer expectations and drive category growth,” said Aurora CEO Terry Booth. “Aurora has built industry-leading cannabis capacity and scalability supported by our consumer research and retail distribution bench strength to launch this next generation of cannabis products into the Canadian market. We are ready to ship product as soon as the regulations allow and are excited for consumers and patients to finally have access to a greater selection of product forms. We are already working on expanding the range of new products beyond those that will initially launch.”
OrganiGram Holdings Inc. (TSXV:OGI)(NASDAQ:OGI) announced that the Company was recognized at the Excellence in Manufacturing Consortium Awards of Excellence ceremony in Toronto on October 9.
Organigram was honored with an Outstanding Member Contribution Award for delivering exemplary support to the EMC over the course of the Company’s membership. The award, accepted by Organigram Senior Vice President of Operational Services, Jeff Purcell, recognizes organizations which demonstrate outstanding achievement in manufacturing. “Producing high-quality cannabis in a state-of-the-art indoor environment, Organigram operates in an interesting cross-section of horticulture, consumer packaged goods and manufacturing,” Purcell said. “We are very proud to accept this award and support EMC, a group that sets the standard for manufacturing excellence in Canada.”
Canopy Growth Corporation (TSX:WEED)(NYSE:CGC) launched its 27th retail location and introduce customers in Brandon, Manitoba to its second location, conveniently located in Brandon’s Corral Centre. “Retail presence is a key driver of brand recognition in a competitive market,” said Rade Kovacevic, President, Canopy Growth. “With twenty-seven locations already open and many more in the works we are confident we’re establishing a national presence that can pay dividends for years to come.” The province of Manitoba has effectively rolled out their retail strategy and has ensured that the brands Canadians know and trust are easily accessible within each community. As we have seen, having physical retail locations has proven to be the most effective way to build brand loyalty by creating reliable educational hubs, supplied with high-quality, regulated products. Tokyo Smoke, Canada’s award-winning and design-focused cannabis retailer is now present across two provinces, while Canopy’s second retail banner, Tweed, is located across four provinces. With 27 retail stores either owned or licensed, Canopy’s retail banners represent the 4th largest cannabis retail network in Canada. The Tokyo Smoke store team looks forward to meeting its neighbors and creating a hub for adult recreational cannabis education and culture. The company is committed to building on its retail presence to drive brand awareness and continue to offer consumers convenient access to quality cannabis products, while combatting the black market through an effective retail structure.
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