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Billion Dollar CBD Market Revenue Projected to Climb as Sales Increase

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June 24, 2020 /PRNewswire/ — Of the more than 85 cannabinoids so far identified in the cannabis plant, CBD is the second most common after tetrahydrocannabinol (THC) but is in the news more and more every day. Global Market Insights, Inc. has recently added a new report on cannabidiol (CBD) market which estimates the global market valuation for cannabidiol will cross US$ 89 billion by 2026. Growing medical applications and increasing sales of cannabidiol derived products in retail stores are two major factors supplementing the market growth. The report said: “After passing the Farm Bill in 2018, there has been a significant demand for CBD products across the globe especially in developed countries such as the U.S., FranceCanada and Netherlands among others. The sales of CBD products are also increasing rapidly as cannabidiol-based products contain trace amounts of THC (psychoactive compound) and varied amounts of CBD. Also, many cannabidiol product manufacturing companies have partnered with big retail stores across countries which is expected to double the sales… According to this GMI report, the neurological conditions application segment is projected to grow with a considerable CAGR of 51.8% during the forecast timeframe. Cannabidiol has been proven to reduce the seizures and nausea associated with few of the neurological conditions such as Parkinson’s disease, Alzheimer’s disease, epilepsy and others. There around 5.5 million individuals in the U.S. suffering from Alzheimer’s disease and around 1.2% of the total U.S. population suffers from epilepsy. Such increasing incidences of neurological disorders will aid in augmenting the CBD market growth.”  Active companies in the Cannabis market this week include Cannabis Strategic Ventures, Inc. (OTCQB: NUGS), Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB), OrganiGram Holdings Inc. (NASDAQ: OGI) (TSX: OGI), Medical Marijuana, Inc. (OTCPK: MJNA), Puration, Inc. (OTCPK: PURA).

The report continued: “By source, the CBD market is segmented into marijuana and hemp. Hemp segment is expected to grow with a higher CAGR of 53.1% and is predicted to continue this trend throughout the forecast timeframe. Hemp consists trace amounts of THC, whereas CBD is present in huge amounts, thus CBD based products are being utilized for treating various ailments. Additionally, majority of the countries have only legalized farming of hemp instead of marijuana as it contains THC which is a psychoactive substance. Thus, owing to the aforementioned factors, the market is expected to gain traction during the coming years.

Cannabis Strategic Ventures, Inc. (OTCQB:NUGS) BREAKING NEWS:  Cannabis Strategic Ventures Announces Record $400K Sales Day, Record Month Underway – Cannabis Strategic Ventures, an emerging leader in the U.S. cannabis marketplace, is pleased to report continued robust growth in total volume of cannabis sales and revenues from cannabis sales during the month of June, which is now on pace to set a new Company record for cannabis sales performance.

This strong performance was aided by a single day (June 4) during which the Company booked $400,000 in sales – its largest ever single day of sales. Management notes that the Company booked a record $929K in sales in May (7% more than its April sales total, which was also a monthly sales record, itself). The Company had already amassed nearly $900K in June sales with 30% of the month remaining.

Simon Yu, CEO of Cannabis Strategic Ventures, stated, “We continue to benefit from our decision in March to get more aggressive rather than retrench in response to the coronavirus crisis. The cannabis shortage we have seen in California since that time has afforded us a golden opportunity to sharply expand our distribution footprint and nurture a widening network of key distributor relationships. June is on pace to be our third consecutive record sales month. Given our strong positioning and expanding production capacity, we anticipate continued robust growth ahead.”

The Company continues to invest in expanding its production capacity given highly positive pricing trends and tight supply side market conditions in the California cannabis marketplace. Management notes that the Company has increased its size of harvest by as much as 2.5x and is currently negotiating a deal through which it can be more than doubled again, as outlined in its release dated June 17.

In addition, due to strong execution on product quality and grow operations, the Company has progressed from booking sales well below industry standard pricing to selling at an 11% premium to benchmarks over recent months. Volume sold also continues to rise sharply on a week-over-week, month-over-month, and quarter-over-quarter basis.

“We are scaling up in healthy response to signals from the market telling us loud and clear that we are on the right track,” continued Yu. “We anticipate all these trends will continue to characterize our operational performance during the second half of the year.”  

Other recent developments and major influences in the cannabis industry include:

OrganiGram Holdings Inc. (NASDAQ: OGI) (TSX: OGI) the parent company of Organigram Inc. (the “Company” or “Organigram”), a leading licensed producer of cannabis, recently announced that it has entered into a multi-year agreement for supply of dried flower to one of Israel’s largest and most established medical cannabis producers, Canndoc Ltd. (“Canndoc”), a subsidiary of InterCure Ltd.

Canndoc has been a pioneer in pharmaceutical-grade cannabis for more than 12 years. Its GMP-approved medical cannabis products are sold in pharmacies in Israel, and it holds international cultivation and distribution agreements in the European Union and Canada.

Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB) the Canadian company defining the future of cannabinoids worldwide, recently provided a progress update on its Business Transformation Plan that was previously communicated February 6, 2020 . “Across our organization we continue to take decisive action and execute on our previously announced Business Transformation Plan,” stated Michael Singer , Executive Chairman and Interim CEO of Aurora. “With today’s announcement we have achieved our stated SG&A run-rate target and expect to operate at approximately $42 million for the first quarter of fiscal 2021. The further cost savings and margin improvement to be realized from our facility rationalization plan is another example of our commitment to deliver greater efficiency throughout the business.”

Puration, Inc. (OTCPK: PURA) recently released its 12th weekly Coronavirus update. The Texas economic reopening is showing signs of strain. Recently, Texas saw record new cases and local news sources were reporting a spike in hospitalization.  PURA is continuing with its efforts reported last week to begin restocking inventory of its EVERx CBD Sports Water. PURA enjoyed sustained sales through the March and April shutdowns and immediately redistributed its current inventory to support demand once the economy in Texas reopened in May. PURA reported $2.7 million in annual sales last year and $800,000 in the first quarter of 2020. To insure against the possibility of another potential shutdown, in part or whole, PURA is rushing to complete another production run of EVERx.

Medical Marijuana, Inc. (OTCPK: MJNA) the first-ever publicly traded cannabis company in the United States that launched the world’s first-ever cannabis-derived nutraceutical products, brands and supply chain, announced that its investment company AXIM® Biotechnologies, Inc.  (“AXIM® Biotech” or “AXIM”) has expanded its research division through the establishment of a state-of-the-art laboratory in the biotechnology industry hub of San Diego, Calif. Additionally, respected scientist Dr. Sergei Svarovsky will lead the oncology-focused research team as the Chief Scientific Officer and founder of AXIM’s subsidiary, Sapphire Biotech, Inc. (“Sapphire”).

“This new laboratory is a giant step forward for AXIM to bring its research completely in-house and continue its scientific discoveries at an accelerated pace,” said Dr. Stuart Titus, CEO of Medical Marijuana, Inc. “We are excited to see further innovations from the team to be led by well-recognized researcher, Dr. Svarovsky.”

DISCLAIMER:  FN Media Group LLC (FNM), which owns and operates Financialnewsmedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels.  FNM is NOT affiliated in any manner with any company mentioned herein.  FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security.  FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities.  The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material.  All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks.  All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release.  FNM is not liable for any investment decisions by its readers or subscribers.  Investors are cautioned that they may lose all or a portion of their investment when investing in stocks.  For current services performed FNM has been compensated twenty five hundred dollars for news coverage of the current press releases issued by Cannabis Strategic Ventures, Inc by a non affiliated third party.

FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.

Source: https://www.prnewswire.co.uk/news-releases/billion-dollar-cbd-market-revenue-projected-to-climb-as-sales-increase-832464481.html

Source: https://cannabislaw.report/billion-dollar-cbd-market-revenue-projected-to-climb-as-sales-increase/

Cannabis

Weed memes, explained

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It’s pretty clear why the internet and weed go hand in hand: the internet has become a virtual haven for weed-lovers to shop for cannabis and accessories, find information, and share their experiences with others. 

Funny memes are one of the many ways that weed and online culture collide, creating a communal space for tech-savvy stoners to laugh, interact, and keep up on the latest trends. From the OGs to the newest weed meme creators, members of this ever-growing community continue to push the boundaries of novelty and absurdity in the name of late-night, red-eyed giggles shared across the globe. 

With a heightened sense of anxiety and reduced social interactions due to the spread of novel coronavirus, it’s even more important to find ways to stay connected. Whether you’re organizing virtual smoke seshes or sharing an obnoxious amount of memes in your group chat, the ultimate goal is to stay sane, safe, and of course, lifted. 

What exactly is a meme? 

From the classics like Grumpy Cat to newer trends like the Spongebob Ight Imma Head Out meme, the average millennial or gen Zer could probably recognize a meme from a mile away. But what exactly makes a meme a meme, and how did they become part of stoner culture? 

While weed memes are a fairly new concept, the word “meme” was coined by Richard Dawkins in his 1976 book The Selfish Gene. Dawkins developed the pre-internet concept as part of his theory of how ideas replicate, mutate, and evolve in the context of evolutionary biology, later characterizing an internet meme as a meme deliberately altered by human creativity. He explained that Internet memes are essentially a “hijacking of the original idea,” the concept itself having mutated in this new direction. 

In a 2019 ThoughtCo article, sociology expert Nicki Lisa Cole said, “According to Dawkins, three factors lead memes to be spread, copied, or adapted from person to person: Copy-fidelity, the possibility that the thing in question can be accurately copied, fecundity, the speed at which the thing is replicated [and] longevity, or staying power.” 

Visual online content becomes a meme only if elements of it are copied and/or creatively altered and reposted on a very large scale. While there is no exact number of copies, shares, or reimaginations that signifies a post has officially reached internet memedom, we know it when we see it.

When did weed memes happen? 

The obvious answer is that we as humans love to share, laugh, and commiserate with other humans. Smoking weed is a bonding experience for many, and just like any other community it has its niche memes that unite weed-lovers far and wide. 

Though we can’t say for sure what the earliest weed meme was, some certainly paved the way for online weed culture. One of the most notable is Good Guy Greg, the antithesis to Scumbag Steve and all-around nice guy. If you haven’t seen him around the internet within the last decade (in which case I feel really old), Good Guy Greg is depicted as a happy guy with a joint in his mouth and is rumored to have started on 4chan‘s /b/ board (an internet forum where just about anything goes), but an archived thread has yet to be found. 

While the majority of Good Guy Greg memes don’t mention the joint in his mouth, they were some of the first memes we can find that relate to weed in any capacity. Think of Good Guy Greg as your ideal fictional best friend, always smoking weed and always being super courteous about it. 

Reddit’s /r/trees board, created in 2009, is home to many of the internet’s first legitimate weed memes. According to the subreddit’s FAQ, “Trees is a place where we can be free to speak our (smoked-out) minds. The community here is comfortable in our hobby, and enjoys seeing what other people think about when they’re flying high.” 

Among my personal favorites of the early memes posted to /r/trees is the prolific Really High Guy, sometimes known as Stoner Stanley. The meme came into existence in 2011 when  Redditor u/randomdave posted a photo of a red-faced young man to the subreddit titled “Being at a [10] is not always pretty.” That same day, the picture was submitted by redditor u/Ahahaha__10 with the caption “Texts the person next to them / ‘I want hospital.'”

The [10] in the original post is derived from the scoring system used by members of /r/trees to measure highness. A 10, as you may have guessed from this guy’s face, is really, really stoned. Today’s weed memes might look a bit different, but they serve essentially the same purpose — making people laugh about relatable stoner problems, like getting too high.

As the internet has expanded beyond any limits we would ever have imagined a decade ago, weed memes have evolved too. Though some purists consider memes to be funny combinations of images and text that go viral, they can also be standalone photos, videos, GIFs, and hashtags. 

The best weed memes of 2020 vary not only in form but in the topics they discuss. They can highlight social and political issues, feature relevant aspects of popular culture, and be purely silly or, at times, serious and informative. 

Where can I get my weed meme fix? 

You can find funny weed memes all over the internet nowadays, from Instagram to Twitter to Facebook. Personally, I use Instagram solely to share memes (often weed-related) with my friends and watch cooking videos. The below list includes some of the best Instagram accounts for meme hunting while stoned. 

@fourtwenty 

With nearly 4 million followers, this account is super popular among weed meme lovers. The account features a spectrum of relatable content including memes about weed-related mishaps, getting the munchies, and of course, smoking during coronavirus. 

@weedhumor 

As what might be the biggest weed meme account on the scene, Weed Humor has an impressive 5.4 million followers. Both memes and promotional content are featured on this private page, which means you have to request to follow them for hilarious weed memes that are always on-trend. 

@higherthoughts

This account isn’t dedicated entirely to weed, but rather to the kinds of thoughts you have when you’re stoned. Some of the memes are about getting stoned, others are about totally random things, but they’re always funny (especially when you just faced a bowl). 

@nowthisweed

Largely made up of short clips, the Now This Weed account is not like the others on this list. The content isn’t necessarily funny, but they are shareable memes by definition. They discuss major issues in the cannabis industry like legalization, plus lots of bizarre and cool things about weed you probably didn’t know.

Featured image by Robin Worrall/Unsplash

Source: https://weedmaps.com/news/2020/08/weed-memes-explained/

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Study Finds Consumers Have Positive Views Of Legal Cannabis

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A study of consumer attitudes released recently found that residents of states with legal cannabis have a positive view of the regulated marketplace. Results of the research, “Consumer perceptions of ‘legal’ and ‘illegal’ cannabis in US states with legal cannabis sales,” were released online last month ahead of the publication of the study in the journal Addictive Behaviors early next year.

To conduct the study, researchers with the University of Waterloo’s School of Public Health in Canada surveyed adult consumers in states with legal cannabis and asked them about their views of the regulated marketplace. Investigators surveyed 5,530 respondents residing in Alaska, California, Colorado, Nevada, Oregon, and Washington. 

The study examined consumer perceptions of quality, price, convenience, and safety of use and purchasing cannabis from legal versus illegal sources in U.S. states with legal retail sales. The study also attempted to examine associations between cannabis use, length of time since legal sales began, and perceptions of legal cannabis.

Well over half (59.2%) of the survey participants reported that, compared to an illicit supplier, cannabis was more convenient to obtain from a licensed source and 56.1% said it was a safer way to purchase cannabis. Additionally, 37.6% of consumers said that they believed the quality of the cannabis offered at licensed businesses was superior to what can be purchased from unlicensed sellers, although more than 30% of respondents said that legal cannabis is more expensive. Less than 15% of respondents in any state reported that legal cannabis was less expensive than that purchased from unlicensed sources. The study also found that 40.3% of those surveyed felt that cannabis purchased from legal sources was safer to use than unregulated products.

Better Over Time

Researchers also found that consumer perceptions varied according to the length of time since legal cannabis sales began. Respondents living in more mature legal markets that had legalized marijuana earlier were more likely to perceive legal cannabis as being of higher quality. The survey also found that consumers in mature markets were less likely to say that legal pot was more expensive.

“The current findings suggest generally positive perceptions of the legal cannabis market. Most respondents, including frequent cannabis consumers, perceived legal cannabis to be of equal or greater quality and convenience, and as safer to buy and use than cannabis from illegal sources,” the authors of the new study wrote. 

Paul Armentano, the deputy director of the National Organization for the Reform of Marijuana Laws (NORML), noted in a statement about the research that no state that has approved the medicinal use of marijuana or cannabis for use by adults has ever repealed its legalization measures.

“This data once again affirms that most voters do not experience ‘buyer’s remorse’ following marijuana legalization,” he said. “In the minds of most Americans, these laws are operating as voters intended and in a manner that is consistent with their expectations.”

The findings of the study are consistent with a poll conducted in April which found that more than half of respondents in states with legal cannabis believed that legalization was a success overall.

Source: https://hightimes.com/news/study-finds-consumers-have-positive-views-legal-cannabis/?utm_source=rss&utm_medium=rss&utm_campaign=study-finds-consumers-have-positive-views-legal-cannabis

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What Are Kamala Harris’ Current—And Past—Views On Cannabis?

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As Sen. Kamala Harris takes her place on the ticket with presumptive Democratic presidential candidate Joe Biden, voters are taking a closer look at her record on the issues of the day. And while Harris’ experience as a prosecutor in California gives some in the cannabis community pause, others point to her apparent evolution on the matter as a sign of hope for the future. Harris made history on Tuesday when Biden announced that he had selected her to become his vice-presidential candidate, the first woman of color to achieve that position on the ticket of a major U.S. political party.

While she was the district attorney for San Francisco, Harris oversaw the prosecution of marijuana offenses leading to nearly 2,000 convictions during her tenure, which lasted from 2004 to 2010. Also during that time, she co-wrote an argument against a cannabis legalization measure for a 2010 voter information pamphlet. And as California Attorney General in 2014, she laughed when a reporter asked if she would support the legalization of cannabis for recreational use.

Sen. Harris Espouses Reform

But following her rise to the national scene with her election as the junior Democratic senator from California in 2016, Harris’ stance on cannabis began to soften and she expressed support for several pieces of pro-cannabis legislation. In 2018, she signed on as a co-sponsor of New Jersey Democratic Sen. Cory Booker’s Marijuana Justice Act in 2018, a bill that would remove cannabis from the nation’s list of controlled substances.

“Right now in this country people are being arrested, being prosecuted, and end up spending time in jail or prison all because of their use of a drug that otherwise should be considered legal,” Harris said in a statement announcing her support for Booker’s bill. “Making marijuana legal at the federal level is the smart thing to do, it’s the right thing to do. I know this as a former prosecutor and I know it as a senator.”

A year later, as a candidate for the Democratic presidential nomination, Harris revealed that she had personal experience with cannabis. During an appearance on the popular New York City radio program “The Breakfast Club,” she told host Charlamagne Tha God that she had smoked cannabis while in college.

“I have. And I inhaled,” Harris said,” referring to Bill Clinton’s half-baked admission to using marijuana in 1992. “I did inhale. It was a long time ago, but yes.”

‘You know, I joke about it – half joke – but half my family’s from Jamaica! Are you kidding me?” she added, a remark that drew rebuke from her Jamaican father for perpetuating a stereotype “in the pursuit of identity politics.”

Her claim also drew criticism from those who noted that Harris said she had listened to Snoop Dogg and Tupac Shakur while high, although both artists did not release any recordings until years after she graduated from college in 1986.

In October 2019, Harris reiterated her support for cannabis policy reform in an op-ed for CNN, citing the racial disparity in the enforcement of the nation’s drug laws that has been documented time and time again.

“The fact is, marijuana laws have not been enforced in the same way for all people. Data show that a person of color is much more likely than a white person to be arrested for marijuana possession, despite evidence that Americans use marijuana at nearly the same rate, regardless of race,” Harris wrote.

“As public opinion of marijuana shifts toward legalization, it’s time we do the smart thing—the right thing—and ensure any marijuana reform legislation we put on the table adequately addresses the harm caused by the failed drug policies of the past,” she continued.

As a senator, Harris has also signed on to two other important pieces of cannabis legislation, including the Marijuana Opportunity, Reinvestment and Expungement (MORE) Act, which would legalize cannabis at the federal level and enact provisions to address the harms caused by the failed War on Drugs. She is also the co-sponsor of a bill known as the Secure and Fair Enforcement (SAFE) Banking Act, which would give legal cannabis businesses access to common financial services.

Progressives Offer Lukewarm Support

But some progressives including Cori Bush, who unseated a Democratic incumbent representative in St. Louis and will likely head to the House after the November election, aren’t completely comfortable with Harris’ seeming about-face on matters of cannabis policy and criminal justice reform. Although Bush said she would not “tear down another woman of color,” she was torn about Biden’s selection of Harris.

“I applaud her for the way that she has evolved, but people were hurt while she was figuring out how to evolve,” she told the New York Times, referring to the time Harris’ spent as a prosecutor in California. “And we cannot forget that those people matter. I stand with them and want them to know I will represent them as hard as I can.”

The chances for cannabis reform if Biden is elected president seem limited at best. Last month, Democratic Party delegates voted not to include the legalization of marijuana at the federal level in its platform for 2020, and Biden is cool to the idea after years of outright opposition. While some in the cannabis community view the democratic ticket with trepidation, Justin Strekal, the political director for the National Organization for the Reform of Marijuana Laws, took the announcement of Harris’ selection as an opportunity for a potential Biden administration to express a commitment to criminal justice reform.

“Passage of the MORE Act is essential in order to truly right the wrongs of federal marijuana criminalization,” Strekal said. “It is time for the Democratic Party to adopt the marijuana policy reform platform that is currently articulated by Senator Harris’s MORE Act.”

“Should the Democratic-led House take action in the coming months to pass the MORE Act, it would demonstrate to voters that they, like the super-majority of Americans, recognize that the time has come to end the failed policy of marijuana criminalization,” he added. “Federal marijuana prohibition was implemented in 1937 explicitly out of racial animus. This criminalization is not, nor has it ever been, an evidence-based public policy. It’s time for this country to do better.”

Source: https://hightimes.com/news/politics/kamala-harris-current-past-views-cannabis/?utm_source=rss&utm_medium=rss&utm_campaign=kamala-harris-current-past-views-cannabis

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