Connect with us

Cannabis

How the CBD Industry Can Earn Trust While Awaiting FDA Regulation

Avatar

Published

on

Over the past several years, CBD has surpassed every emerging health trend to become the hottest thing since sliced bread. According to a recent Forbes article, Google searches for CBD-related queries have surpassed all searches for Kim Kardashian, Taylor Swift, the Beatles, and even Jesus.

This extreme growth spurt and attention focused on the industry has led to a complete over saturation of the CBD market. While there are many reputable CBD companies that have been committed to quality since the industry’s inception, there seems to be five times as many bad actors looking to cash in on the green rush with low-quality products sold through misleading marketing tactics.

Advertisement

vitallandscaping.com

What can the industry do about this problem?

One key challenge currently facing the CBD industry is lack of regulation from the Food and Drug Administration (FDA). Due to the passage of the 2018 Farm Bill, 2019 opened with great optimism about the FDA’s development of a path for the full regulation of hemp-derived CBD. The FDA even held its first public hearing and comment period early last year in preparation for forthcoming guidelines. However, the guidelines did not come, and the FDA closed out the year with a round of warning letters sent to CBD companies making unlawful disease claims alongside commentary restating its current concerns about CBD as a food additive.

The concerns expressed were not new and additional comments made in the warning letters were not divergent from previous guidance issued by the FDA. It also is clear the FDA realizes there is a significant market for hemp and CBD products and wants time to continue investigating its concerns so that it can properly regulate such products and ensure consumer safety.

A possible first step for the FDA would be to examine the United Kingdom’s recent moves to regulate CBD in mainstream commerce. Last month, the Food Standards Agency announced plans to establish a legal pathway for CBD in food and dietary supplements, recommending a reasonable upper limit of 70mg per day for healthy adults. Likewise, the agency will require all CBD companies to undergo annual safety evaluations in order to remain on shelves.

This would be a great starting point for the American market, which currently is being undercut by unscrupulous companies producing fake or contaminated CBD products. A November 2017 study by researchers at Johns Hopkins University found that out of eighty-four samples of CBD products purchased online, only twenty-six contained the amount of CBD advertised. Likewise, tests administered by the FDA have revealed several products with no detectable amounts of CBD at all.

Needless to say, CBD companies looking to earn a trustworthy reputation should invest in quality control and testing processes to ensure they are delivering safe and effective products. Consumers should only purchase products from companies that provide a Certificate of Analysis (COA) for every batch of product that leaves their facilities. Similarly, consumers should avoid buying from CBD companies that have received a warning letter from the FDA for violating regulations, particularly around making claims that CBD can treat, cure, or mitigate any disease or ailment.

Certifications are another great source of third-party accountability. The U.S. Hemp Authority Certification Program is the hemp industry’s initiative to provide high standards, best practices, and self-regulation, giving confidence to consumers and law enforcers that hemp products are safe and legal. The program was funded by the U.S. Hemp Roundtable and developed by a variety of industry-leading firms, top-tier testing laboratories, and quality assessors to create guidance for growers and processors of hemp.


Grace Kaucic is senior communications manager at Bluebird Botanicals, a hemp CBD manufacturer based in Louisville, Colorado. She joined the Bluebird team in 2018 and currently oversees internal and external communication strategies and execution. With a background in marketing communications, content production, and media relations, Kaucic’s responsibilities include sourcing, producing, and amplifying strategic content marketing and brand messaging across digital and traditional channels. Source: https://mgretailer.com/business/how-the-cbd-industry-can-earn-trust-while-awaiting-fda-regulation/

Cannabis

GreenheartCBD Founder Paul Walsh named to the All-Ireland Business All Star List

Avatar

Published

on


Greenheart, the leading licensed Irish sustainable producer, is delighted to announce that company co-founder and visionary Paul Walsh, has received a Thought Leadership award for innovation, technology, and sustainability, from the All-Ireland Business Foundation All-Star Ireland awards.

This prestigious accolade is given to a very small number of leading business innovators and visionaries in Ireland each year. The award follows closely on Greenheart’s own accreditation by the All Ireland Business Foundation. This accreditation is an outstanding achievement and recognizes the hard work and dedication of the Greenheart team in providing the best in class service to all our customers.

Greenheart was founded two years ago in Ashbourne, County Meath, and was formed two years ago by childhood friends Mark Canavan and Paul Walsh. The company produces a full range of sustainable oils – and shortly – edibles and balms for the retail market. Although Greenheart only began selling its oils in January 2020, it already has over 1,500 customers, a customer return rate three times the industry average and over seventy trusted 5-star reviews on its website. 

Before launching Greenheart, Paul and Mark spent years researching extraction methods to produce the most effective agricultural products, for the end consumer with full traceability from seed to shelf. The company is the first sustainable producer in its market to use the full scope of cutting edge technology in its cultivation and production. This includes Big Data, Artificial Intelligence (AI), Machine Learning, and Blockchain technology at each stage of the planting, harvesting, production, and retailing process.

Greenheart Punt Token

The company is launching its own product token on December 1st – the Greenheart Punt – which will trade on the LAToken exchange and allow its stakeholders to access its products at the greatest possible discounts on its new apps platform. 

The Greenheart Punt token is being backed by a real commodity – 1,000 liters of Greenheart’s oil in year 1 (with a retail value of $4 million US dollars) – allowing token holders to redeem their tokens directly for Greenheart oil.
The company also plans to continue deploying pioneering sustainability technology and cold press extraction, while also launching an Innovation Centre to teach farmers and the wilder public about the benefits of growing hemp and sustainable crops in Ireland.


 

Source: Shane Walsh GreenheartCBD.ie

Continue Reading

Cannabis

PAOG CEO Discusses 2020 Progress And PURA Dividend On MoneyTV

Avatar

Published

on

Sandusky, OH – November 25, 2020 – OTC PR WIRE — PAO Group, Inc. (OTC: PAOG) today announced an interview of CEO Jim DiPrima on MoneyTV where Mr. DiPrima discusses the company’s progress in 2020 to include the latest updates on PAOG’s coming one for one dividend of PAOG stock to Puration, Inc. (OTC: PURA) shareholders in conjunction with PAOG’s recent acquisition of PURA’s cannabis cultivation business.

PAOG made two strategic acquisitions this year transitioning the company into the cannabis neurocritical and pharmaceutical markets.  PAOG has recently executed an agreement with a Contract Research Organization (CRO) to advance the company’s hemp derived CBD extract to treat Chronic Obstructive Pulmonary Disorder (COPD) toward an FDA approval.  PAOG is also close to executing a neurocritical development agreement.  In addition to the interview published today, the company anticipates issuing substantial updates on the pharmaceutical and neurocritical developments next week.

MoneyTV is the internationally syndicated television program all about money and what makes it happen, (http://www.moneytv.net), featuring informative interviews with company CEOs and executives, providing insights into their operations and outlooks for their futures. MoneyTV is seen in over 200 million TV households in more than 75 countries.

Free information packages from the featured companies can be requested by sending an email to info@moneytv.net.

The television program can also be viewed online immediately at www.moneytv.net.

www.paogroupinc.com

Forward-Looking Statements: Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.

CONTACT INFORMATION

Contact Us:
Jim DiPrima
888-272-6472
info@pao.group

Source: https://otcprwire.com/paog-ceo-discusses-2020-progress-and-pura-dividend-on-moneytv/

Continue Reading

Cannabis

SPACs are so hot even Jay-Z is partnering with one. He’s set to be the ‘chief visionary officer’ for California’s largest cannabis firm.

Avatar

Published

on

  • Jay-Z is joining the company set to be California’s largest cannabis brand as a “chief visionary officer” as part of a SPAC deal announced on November 24.
  • The special purpose acquisition company, Subversive Capital Acquisition, agreed on the same day to acquire the cannabis brand Caliva and the hemp producer Left Coast Ventures, forming The Parent Company in January, when the deal should close.
  • Jay-Z will help the company with marketing and brand strategies, while Roc Nation artists Rihanna, Yo Gotti, and Meek Mill also invested in the newly formed company via a private placement.
  • Also, Jay-Z will lead The Parent Company Social Equity Ventures, which will seek to invest at least 2% of its net income into BIPOC-owned cannabis businesses and “contribute to the effort to rectify the wrongs of prohibition through initiatives that are working toward meaningful change in the criminal justice system.”
  • 2020 has been a breakout year for SPACs in general, and the cannabis industry is nascent but expanding, with Wall Street banks gradually becoming more involved with cannabis firms.

Billionaire Jay-Z is joining the company set to be California’s largest cannabis brand as a “chief visionary officer” as part of a SPAC deal announced on November 24.

The deal will see a special purpose acquisition company, or SPAC, called Subversive Capital Acquisition Corp., acquiring cannabis brands Caliva and Left Coast Ventures to form The Parent Company, with deal close targeted for January 2021.

The news comes shortly after Jay-Z announced a partnership with Caliva in October that will see him launch his own cannabis line, Monogram, as reported by CNN.

Jay-Z’s Roc Nation announced an exclusive partnership with The Parent Company simultaneous with its formation, while Roc Nation artists Rihanna, Yo Gotti, and Meek Mill also joined as investors in the newly formed company via a private placement.

According to a press release, the Subversive Capital Acquisition Corp already holds about $575 million in cash in trust, meaning The Parent Company is expected to become one of the best-funded cannabis companies in the US. It will combine the revenues of Caliva and Left Coast Ventures to reach $185 million in revenue in 2020, expecting to hit $334 million in 2021.

The Parent Company hopes to reach 90% of all cannabis users in California by 2022. The cannabis market has continued to grow in recent years, with sales in California reaching almost $3 billion last year, per Arcview Market Research and BDS Analytics.

A cannabis SPAC deal with a social advocacy angle

Jay-Z’s work as chief visionary will also have a major social component. The rap mogul will take the helm of the company’s Social Equity Ventures, which has pledged to invest at least 2% of its net income into BIPOC-owned cannabis businesses.

The Social Equity Ventures unit will also “contribute to the effort to rectify the wrongs of prohibition through initiatives that are working toward meaningful change in the criminal justice system,” according to the press release. Initiatives will include bail reform, industry vocational training, job placement, expungement clinics, and Social Equity application support.

“Although we know we can’t fully redeem the injustices created by the ‘war on drugs’, we can help shape a brighter and inclusive future,” Jay-Z said in the press release. “The brands we build will pave a new path forward for a legacy rooted in equity, access, and justice. We’re creating something people can trust and we’re investing in our future, our people, and our communities.”

When reached for comment, Jay-Z referred Business Insider to his comments from the press release.

SPACs are so hot right now, and cannabis keeps heating up

Using SPACs to invest in cannabis companies has become all the rave lately, as extensively reported by Business Insider’s Jeremy Berke.

Several cannabis SPACs have turned into multimillion-dollar juggernauts through deals similar to The Parent Company. In August, Credit Suisse led Silver Spike Capital’s $250 million public offering, and Citigroup’s Canadian branch helped lead the $350 million SPAC public offering of the private equity firm Bespoke Capital, Berke reported.

It’s a bit of an issue from an investment perspective that cannabis is still illegal on a federal level, although states including California have legalized it for recreational use. The cannabis industry could grow into an $80 billion industry by 2030 if it becomes legal under federal law, according to the investment bank Cowen.

This potential increasingly drawing Wall Street establishments such as Goldman Sachs and JPMorgan into assisting cannabis-related SPACs going public in the US and advising their clients on cannabis-related deals, Berke also reported. And now Jay-Z and his Roc Nation superstars are players at the table.

Source: Business Insider – SPACs are so hot even Jay-Z is partnering with one. He’s set to be the ‘chief visionary officer’ for California’s largest cannabis firm.

Source: https://spacfeed.com/spacs-are-so-hot-even-jay-z-is-partnering-with-one-hes-set-to-be-the-chief-visionary-officer-for-californias-largest-cannabis-firm?utm_source=rss&utm_medium=rss&utm_campaign=spacs-are-so-hot-even-jay-z-is-partnering-with-one-hes-set-to-be-the-chief-visionary-officer-for-californias-largest-cannabis-firm

Continue Reading

Cannabis

GREENHEART CBD NAMED IN TOP 3 CBD “PRODUCT OF THE YEAR” AT INAUGURAL CANNAVIST AWARDS

Avatar

Published

on

Greenheart CBD, the leading licensed Irish CBD producer, is delighted to announce that in its very first year of operation, it has been named in the Top 3 CBD Products of the Year by The Cannavist Magazine.

The Cannavist is the leading magazine for the CBD industry in the UK and Ireland. 2020 is the inaugural year for its CBD awards, which covered the full range of CBD related products on the market – from edibles and skincare to tinctures and petcare.
Greenheart CBD was founded two years ago in Ashbourne, County Meath, and was formed two years ago by childhood friends Mark Canavan and Paul Walsh. The company produces a full range of CBD oils – and shortly – edibles and balms to the retail market.

Although Greenheart only began selling its CBD oils in January 2020, it already has over 1,500 customers, a customer return rate three times the industry average and over seventy trusted 5-star reviews on its website. Before launching Greenheart, Paul and Mark spent years researching extraction methods to produce the most effective CBD products, for the end consumer with full traceability from seed to shelf. The company is the first CBD producer to use the full scope of “CBD Tech” in hemp cultivation. This includes Big Data, Artificial Intelligence (AI), Machine Learning, and Blockchain technology at each stage of the planting, harvesting, production, and retailing process.
Greenheart Punt Token

The company is launching its own product token on December 1st – the Greenheart Punt – which will trade on the LAToken exchange and allow its stakeholders to access its products at the greatest possible discounts on its new apps platform.
The Greenheart Punt token is being backed by a real commodity – 1,000 liters of Greenheart’s CBD oil in year 1 (with a retail value of $4 million US dollars) – allowing token holders to redeem their tokens directly for Greenheart CBD oil.

The company also plans to continue deploying pioneering CBD Tech and cold press extraction, while also launching an Innovation Centre to teach farmers and the wilder public about the benefits of growing hemp and sustainable crops in Ireland

Continue Reading
Cyber Security27 mins ago

Digitally Signed Bandook Trojan Reemerges in Global Spy Campaign

Amb Crypto36 mins ago

Ethereum long-term Price Analysis: 30 November

Amb Crypto1 hour ago

Bitcoin’s price could one day be $500,000: Gemini’s Winklevoss brothers

Aerospace1 hour ago

2020 SpaceNews Awards Virtual Event

Amb Crypto2 hours ago

What does Bitcoin’s Sentiment say about its future?

Amb Crypto2 hours ago

Monero, Polkadot, Compound Price Analysis: 30 November

Amb Crypto2 hours ago

Former Chief Digital Officer of Luxury brand LVMH joins Ledger 

Cleantech2 hours ago

EV Aftermarket Virtual Trade Show (Show & Tell) Is Today — Join Us!

Cyber Security2 hours ago

MacOS Users Targeted By OceanLotus Backdoor

Cleantech2 hours ago

Townie Path Go! E-Bike: A Premium, Sturdy Electric Bike For Commuters & Fun

Cyber Security2 hours ago

Pandemic, A Driving Force in 2021 Financial Crime

Aerospace2 hours ago

FCC Chairman Ajit Pai to leave agency in January

SaaS2 hours ago

Generative Media: The Future of Visual Marketing

Amb Crypto3 hours ago

Bitcoin SV long-term Price Analysis: 30 November

Automotive3 hours ago

Tesla gains permission to begin second phase of deforestation at Giga Berlin

Aerospace3 hours ago

SES to provide satellite connectivity for U.S. military ‘internet of things’

Aerospace3 hours ago

Launchspace Technologies proposes debris mitigation and collection constellations

SaaS3 hours ago

How Long It Roughly Takes to Close a Deal in SaaS. And Why.

Cleantech4 hours ago

Renewables = 70% of New US Power Capacity in 2020, Solar = 43%

Big Data4 hours ago

Capital on Tap apuesta por el software Modellica Originations de GDS Modellica para evaluar los procesos de solicitudes de tarjetas de crédito

Cleantech4 hours ago

Ford To Convert Cologne Factory For MEB Based EV Production

Aerospace4 hours ago

China pushes ahead with super-heavy-lift Long March 9

Automotive5 hours ago

GM cuts back terms of partnership with Nikola, shares drop over 24%

Cleantech5 hours ago

Top Tesla Goodies for Cyber Monday

Cleantech5 hours ago

Conference programme announced for Plastics Recycling Show Europe virtual event

Cleantech6 hours ago

Research creates hydrogen-producing living droplets, suggesting a route to possible future energy sources

Cleantech6 hours ago

Australasian water programme creates opportunities for European technology companies

SaaS6 hours ago

How to Level up Your Writing Skills for Irresistible PPC Ads

Blockchain6 hours ago

J.P. Morgan Analysts Foreshadow Further Bitcoin Declines

Blockchain7 hours ago

Chainlink (LINK) Falls Putting Bullish Structure In Doubt

Trending