NEW YORK, May 14, 2019 /PRNewswire/ -- After the U.S. Farm Bill passed, CBD-based products have sprung up across the entire country. U.S. President Donald Trump signed the bill into effect in late 2018 after witnessing immense support pouring in from states. Shortly afterward, retailers across the country began to sell CBD products. Now, consumers can easily find CBD products such as oils, tinctures, and edibles at their local convenience stores and even pharmacies. According to the National Conference of State Legislatures, 41 states have so far set up cultivation and production programs to regulate the production of hemp. Cowen, an investment bank and financial services company, noted that in 2018, CBD retail sales were between USD 600 Million and USD 2 Billion. By 2025, Cowen projects that CBD sales will reach the USD 16 Billion mark. Major corporations such as CVS, Walgreens, Amazon, and Sephora have all began to distribute CBD products in their stores. And Cowen believes that the health and wellness category is expected to account for a majority of CBD sales. Specifically, Cowen projects that nutraceuticals will account for USD 6.4 Billion in sales while topicals are estimated to deliver USD 4 Billion in sales. Other segments such as food, beverages, beauty, and vapor are expected to generate combined sales of USD 1 to USD 1.25 Billion by 2025. Despite the CBD marketplace's rapid expansion, it is still heavily hindered by the lack of clinical trials and research. Despite this, the U.S. Food and Drug Administration still approved the first CBD-based treatment: Epidiolex, adding yet more credibility to the compound's function. Moreover, many cannabis companies have clinical trials underway in order to assess and evaluate CBD treatments for seizure disorders. NutraLife Biosciences, Inc. (OTC: NLBS), India Globalization Capital, Inc. (NYSE-A: IGC), The Supreme Cannabis Company (OTC: SPRWF) (TSX: FIRE), Terra Tech Corp. (OTC: TRTC), Invictus MD Strategies Corp. (OTC: IVITF) (TSX-V: GENE)
Generally, most consumers use CBD products for medicinal purposes. Similarly, retailers are advertising CBD products as therapeutic treatments, however, there is still a large recreational market for the industry. Primarily, most consumers intake CBD to treat a wide range of medical conditions such as chronic pain, mood disorders, neurological disorders, and diabetes. In the healthcare industry, most independent pharmacies have already begun selling CBD products. While there are many ways to consume CBD, the oils marketplace is expected to be the fastest growing segment within the overall CBD sector. Market Research Future suggests that the market is expected to reach USD 2.17 Billion by 2023 while exhibiting a CAGR of 36.36%. CBD oils are becoming popular among independent pharmacies because of their high-margin profile. Nonetheless, despite the expanding commercialization of CBD oils, major pharmaceutical chains like CVS and Walgreens do not carry oil products as of yet. However, Walgreens noted that it is monitoring and exploring opportunities within the market. "With the market set to expand to include novel form factors, and with expanded retail access, we remain encouraged at the market's potential for growth in 2019," said Cowen analyst Vivien Azer. "After passage of the Farm Bill, CBD will clearly be one of the most topical areas within cannabis over the coming year."
NutraLife Biosciences, Inc. (OTCQB: NLBS) announced earlier today that, "it's subsidiary, PhytoChem Technologies, Inc. ("PhytoChem") has entered an exclusive agreement with Owen J. Morgan, founder and CEO of Global Ecology Group (GEG) for the commercialization of the Ennea Processor ("Ennea") in the United States of America, Latin America, the Carribean, Central America, South America and Canada.
The Ennea is a unique system designed to extract bioactive compounds including cannabinoids from hemp and other plants. The Ennea process under the direction of Owen J. Morgan is a revolutionary method allowing for the extraction of components from whole plants while maintaining the cellular and fiber integrity of the plant. The Ennea's process provides for the full recovery of biomass for further applications and eliminates the necessity of secondary recovery methods.
'Ennea is revolutionary, not only because of the results it produces but most importantly, because higher yields come with higher quality than ever witnessed in the industry,' says Owen J. Morgan. 'Added to that, Ennea produces less waste, with a recovery of nearly 100% of all materials. That coupled with stunningly low energy requirements and complete extraction in one single pass makes Ennea the most environmentally responsible system ever developed for plant extraction. Ennea is highly scalable, mobile, and can be adapted to the needs of every user.'
Earlier this month, Mr. Morgan demonstrated and ran trials of the Ennea Process on a certified US grown hemp crop strain. The results, analyzed according to independent industry recognized standards for quantitative analysis (HPLC), confirm full spectrum extraction of all bioactive compounds including all terpenes. On the certified crop trials, Ennea extracted on average 30 % higher yields than was previously believed to exist in the cannabinoid group.
Edgar Ward, NutraLife's Chief Executive Officer and President, stated, 'This cooperation leverages the synergy between GEG and NutraLife Biosciences and sets a new bar for the hemp crop extraction industry. The results witnessed after the trials performed by Mr. Morgan are even beyond our expectations. We believe that the Ennea system will completely change the extraction industry itself and, more importantly, it will bring higher quality hemp products to consumers.'
Through PhytoChem, NutraLife BioSciences plans to establish several Ennea Processing Plants across the United States of America to meet the demands of its partner growers for the 2019 growing season. PhytoChem estimates that the first Ennea facilities will be functional in October 2019 starting with four 800-litre systems.
About NutraLife BioSciences: Edgar Ward founded NutraLife in 2010 as NutraFuels, Inc. and since that time he has served as its Chief Executive Officer, President and Director. Under Mr Ward's direction, NutraLife's revenues increased from $225,000 in 2016 to more than $3.7 million in 2018. NutraLife's Coconut Creek manufacturing facility has been registered with the Food and Drug Administration, and its manufacturing facility has operated in accordance with the Good Manufacturing Processes Standard (GMP) for more than five years. NutraLife's products are tested by its in-house laboratory chemists for strength, purity and contaminants such as heavy metals, pesticides, and solvents. NutraLife offers thirteen different core formulations which it modifies to meet the specifications of its private label customers. NutraLife provides approximately 50 different variations of its core formulations. NutraLife's private label products include CBD infused oral sprays, tinctures, pet drops, pain balms, face creams, and nutraceutical oral spray products that support daily health and wellness uses."
India Globalization Capital, Inc. (NYSE-A: IGC) has two lines of business: infrastructure and hemp/cannabinoid derived products. India Globalization Capital, Inc. recently hosted two educational conferences in two of the largest cities in Puerto Rico on April 27, 2019 (San Juan) and April 28, 2019 (Ponce) from 9:00 a.m. to 5:00 p.m. each day. These full-day events featured presentations for physicians in the morning and provide programs tailored to technicians, patients, and caregivers in the afternoon. These events are part of a series of educational initiatives IGC is hosting in support of Hyalolex™, the Company's cannabinoid-based product designed to help improve the lives of patients suffering from Alzheimer's disease, as well as improve the lives of caregivers. By hosting these conferences, the Company obtained direct feedback from physicians, patients, caregivers, and the owners of dispensaries. The IGC formulation delivers micro doses of cannabinoids with the goal of helping to manage Alzheimer's -related symptoms such as anxiety, aggression, and sleep disorder, and it is intended to provide improvement in the quality of life for patients. One particular aspect that we hope to address is that of caregiver distress. The Company proposes to conduct clinical trials as part of its strategy to develop pharmaceutical products. "The launch of Hyalolex™ in a smaller controlled environment like Puerto Rico allows us to develop and refine a market penetration strategy and financial model for the product that can then be scaled to other parts of the country that possess significantly larger addressable Alzheimer's populations," stated Ram Mukunda, Chief Executive Officer.
The Supreme Cannabis Company (OTCQX: SPRWF) (TSX: FIRE) is a Canadian publicly traded company committed to providing premium brands and products that proudly reflect its consumers, people and uniquely innovative culture. The Supreme Cannabis Company, Inc. recently announced that the Company expects its previously announced oil products line to be introduced to adult-use consumers in select Canadian markets starting April 2019. Supreme Cannabis plans to initially ship oil products to select markets before expanding distribution of its cannabis oil line to additional provinces, which is expected by the end of June 2019. Each bottle will contain a proprietary blend of highly-purified cannabis oils and terpenes derived from plants grown by 7ACRES. "Premium oils require premium cannabis," said Navdeep Dhaliwal, Chief Executive Officer of Supreme Cannabis. "Our formulation will leverage super-critical CO2technology to produce a high quality, purified cannabis oil which we re-formulate with the naturally occurring cannabis terpenes from our 7ACRES' High-End CannabisTM. The result is a unique, plant-based cannabis oil that carries the award-winning qualities of our flower into an oil product for consumers looking for a premium cannabis oil experience."
Terra Tech Corp. (OTCQX: TRTC) operates through multiple subsidiary businesses including: Blüm, IVXX Inc., Edible Garden, and MediFarm LLC. Terra Tech Corp. recently announced that it had secured a permit to manufacture cannabis for the adult use market at its 15,000 sq. ft. extraction facility in Reno, which is 50% owned by NuLeaf, from the State of Nevada. Terra Tech commenced IVXX® production activities for the medical market at its Reno, Nevada facility, co-owned by NuLeaf, in the late in the third quarter of 2018. Securing this permit allows it to further increase the supply of its proprietary IVXX wholesale brand to meet the significant demand for cannabis products from adult users throughout Nevada. Chief Executive Officer, Derek Peterson, said, "Our IVXX brand of cannabis has proven itself to be popular with both the adult use and medical markets in Nevada. Securing this permit enables us to increase supply of our products to meet the demand from adult users that want to consume our premium branded cannabis by ramping production at our Reno facility. This will enable us to not only continue the rollout of our wholesale products in the State, but also increase the value of our assets in Nevada."
Invictus MD Strategies Corp. (OTCQX: IVITF) (TSX-V: GENE) is a global cannabis company offering a selection of products under a wide range of brands. Invictus MD Strategies Corp. recently announced that it has entered into a letter of intent to form a Joint Venture with Gene Simmons, Simmons' MoneyBag Sodas and Rock Steady Sodas, Inc. to develop a line of non-alcoholic, CBD-infused beverages for distribution in the United States and Canada. Economics of the JV will be determined over the next 60 days as the Parties finalize due diligence. Each of the Parties will contribute the following to the JV in exchange for their respective economic interest: Invictus will contribute to the procurement of CBD and contracted expertise in infusing beverages; Simmons and MoneyBag™ will contribute the license to use the trademark Simmons MoneyBag™ Sodas; and Rock will contribute expertise with existing premium soda recipes to be used with CBD and generations of bottling and distribution experience. "Based on his successes on and off the stage, we initially approached Gene to become Chief Evangelist Officer of Invictus, but his role has grown far beyond that," said George E. Kveton, Chief Executive Officer of Invictus. "Simmons' MoneyBag Sodas are exceptional, and working with Rock and their notable distribution channels, new line of CBD infused sodas will catapult our growth and position in the CBD beverage space."
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