While FDA Advances Work Related to Cannabidiol Products CBD Usage Rates Are On The Rise
Palm Beach, FL – June 30, 2020 – Just a few years ago, not many people knew what CBD is… or does. Things have really changed so much so that now, it’s harder to find someone who does not know what it is! A recent report said that 86% of Americans know about CBD and 1 in 5 have used it, according to a new analysis by New Frontier Data. It said: “Findings in the report suggest that cannabidiol (CBD) has never been more popular in the United States… Relatively unknown only years ago, CBD has since exploded into a fast-growing market that generates as much as $1 billion in domestic sales. The now widely recognized cannabis compound is used to promote health and wellness in users. The new nationally representative survey indicates that usage rates of CBD are rising.” “Our research shows that 1 in 5 Americans have used CBD, which demonstrates a major jump in consumer interest in the sector,” said New Frontier Data Founder & CEO Giadha Aguirre de Carcer. “While this phenomena is taking root across many other regions such as Europe and Latin America, the United States continues to represent the largest CBD market; understanding its CBD consumers is therefore a priority for enterprises within both the legal cannabis industry and a multitude of mature sectors such as Food & Beverage or Health & Beauty.” Mentioned in today’s commentary include: Canopy Growth Corporation (NYSE: CGC) (TSX: WEED), Rapid Therapeutic Science Laboratories, Inc. (OTCPK: RTSL), Village Farms International, Inc. (NASDAQ: VFF) (TSX: VFF), Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON), CV Sciences, Inc. (OTCQB: CVSI).
And there is hope in the industry that once FDA approvals begin being granted, the market will have yet another infusion to even further boost the markets revenues. The FDA recently said: “The marketplace for CBD-containing products is quickly evolving and it is critical that we work together with stakeholders and industry to develop high-quality data to close the knowledge gaps about the science, safety and quality of many of these products, as well as further evaluate any potential benefits… “
Rapid Therapeutic Science Laboratories, Inc. (OTCPK: RTSL) Breaking News: Rapid Therapeutic Enters Contract for Certified Lab for Manufacturing Consistent with FDA Rules – Rapid Therapeutic Science Laboratories (the “Company” or “RTSL”), a SEC fully-reporting, growth-oriented company focused on manufacturing and marketing aerosol delivery systems based on pressurized Metered Dose Inhaler (MDI) technology, announced today that it has executed a contract leasing a new state-of-the-art laboratory. The laboratory is being certified for manufacturing under Food and Drug Administration (FDA) rules.
Rapid Therapeutic Science Laboratories, Inc. Chairman and CEO, Donal R. Schmidt, Jr. stated, “We are extremely pleased to announce the Company has leased a state-of-the-art lab tested to ISO 6 standards. This lab will allow us to immediately pursue RTSL’s stated goal of FDA registration of all RTSL products. RTSL will immediately begin manufacturing according to ISO 13485 standards for medical devices.” https://www.iso.org/iso-13485-medical-devices.html. https://www.iso.org/standard/59752.html. The FDA adopted this standard in 2018. https://www.iso.org/news/ref2318.html.
Sean Berrier, Sr. VP and Co-founder commented: “RTSL will not maintain the lab as a certified “clean room,” instead the Company maintains general facility/process controls in its environmentally filtered operations, as part of compliance with FDA Good Manufacturing Practices (GMP) related to ISO 13485. Nevertheless, RTSL will periodically perform random testing to assess initial set-up, filter functional efficacy, personnel gowning consistency, and general process stability. Under ISO 13485 the lab rooms will function as “control rooms.” The goal is to organize layout, and minimize overhead particulate matter, thereby optimizing process flow and reducing product fallout. This allows for RTSL to manufacture a class II medical device under GMP. We believe we are one of only a handful of companies manufacturing CBD consumer products with this level of sophistication. This lab gives our clients a high level of assurance that our products are safe and clean with no adulterations.” Read the full Press Release and more for RTSL at: https://www.financialnewsmedia.com/news-rtsl
In other active company news in the markets this week:
Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) recently announced that that at its Annual and Special Meeting of Shareholders held earlier today (the “Meeting”) there were 652 shareholders voting in person or by proxy holding in total 195,124,634 common shares of the Company, representing 55.94% of the total number of common shares of the Company outstanding.
Each of the directors listed as a nominee in the Company’s proxy statement dated April 28, 2020 (the “Proxy Statement”) was elected as a director of the Company, with each director receiving in excess of 97.10% of the votes cast in favor of his or her election.
The Company also announced today that the shareholders have approved a special resolution authorizing the Company to make an application for the continuance of the Company from the laws of the Province of Ontario to the laws of the Province of British Columbia, as further described in the Proxy Statement (the “Continuance”). The Company believes the greater flexibility afforded by the British Columbia corporate statute by virtue of the absence of a Canadian residency requirement for members of the board of directors of the Company (the “Board”) will allow the Company to consider Board candidates from a larger pool of candidates to ensure the Board maintains the right composition, skills, expertise and diversity to drive long-term value. The completion of the Continuance remains subject to the satisfaction of the conditions described in the Proxy Statement.
Canopy Growth Corporation (NYSE: CGC) (TSX: WEED) and Acreage Holdings, Inc. (“Acreage”) recently announced they have entered into an agreement (the “New Agreement”) to amend the terms of the arrangement agreement dated April 18, 2019, as amended on May 15, 2019, between Canopy Growth and Acreage (the “Arrangement Agreement”).
Pursuant to the Arrangement Agreement, Canopy Growth agreed to acquire all of the issued and outstanding securities of Acreage pursuant to a plan of arrangement under the Business Corporations Act (British Columbia) (the “Plan of Arrangement”), contingent upon the occurrence of changes in U.S. federal law to permit the general cultivation, distribution, and possession of marijuana (the “Triggering Event”) and subject to the satisfaction or waiver of certain conditions to closing as set out in the Arrangement Agreement.
CV Sciences, Inc. (OTCQB: CVSI) recently announced the publication of two research studies demonstrating the safety and health benefits of PlusCBD™ products. Both studies were published in the Journal of Dietary Supplements. The first study adds to the growing body of literature that supports the safe use of hemp derived CBD as a dietary supplement. The data confirm a low rate of adverse effects in millions of consumers taking PlusCBD™ products over a two-year period. A noteworthy finding was the absence of any reports of liver toxicity, which has been described in studies using high doses of CBD as a prescription drug.
Lead author Stephen Schmitz, MD, MPH and co-founder of Supplement Safety Solutions, stated, “This is the first longitudinal study of a CBD dietary supplement being used in real-world conditions. This study represents two years of data and daily product use from millions of consumers and demonstrates that CV Sciences’ products are safe and well tolerated.”
Village Farms International, Inc. (NASDAQ: VFF) (TSX: VFF) recently announced its majority-owned joint venture for large-scale, low-cost, high-quality cannabis production, Pure Sunfarms, has begun shipping branded, packaged dried flower products to Saskatchewan following approval from the Saskatchewan Liquor and Gaming Authority (the “SLGA”), the provincial regulator responsible for permitting and monitoring the operation of local cannabis wholesalers and retailers in the Province. Pure Sunfarms expects its products to be available to Saskatchewanconsumers beginning next week.
Saskatchewan ranks as the fifth largest Canadian province by cannabis sales, comprising approximately 6% of the country’s total sales1 and has the second highest per capita spend on cannabis of the five largest provinces1 (behind Alberta). Saskatchewan currently has 44 licensed retailers and with the SLGA’s announcement to move towards an open market cannabis model by September of this year, there will be no cap on the number of dispensaries permitted in municipalities provincewide which is expected to give more consumers access to product.
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