PALM BEACH, Florida, March 14, 2019 /CNW/ — The big-box stores and the multi-national beverage companies have been sitting on the sidelines while the CBD/THC infused products markets have been virtually exploding. 2019 may be the year they jump in the deep end in a big way. An industry insider for Brightfield Group recently was quoted in The Rolling Stone saying: “I’ve been doing market research for years and covered everything,” says Gomez. “This is definitely the craziest market I’ve ever covered.” According to the firm’s projections, there would be increases in just about every sector that sells CBD — from dispensaries to smoke shops to medical companies. But perhaps the biggest push, according to Gomez, would be from big-box retailers and national chains who have been eager to get in on the lifestyle craze but have felt stifled by the current, muddy regulations.” Another member of Brightfield said the following in the Cannabis Business Times: ” manufacturers are headed in this direction, aiming to compete with, or be acquired by, large corporations who have their eyes on the CBD space and who are ready to pounce come commercial hemp legalization. For these reasons, drinks are expected to be a huge CBD growth area, projected to jump from a $12 millionmarket in 2018 to a $200 million-plus market in 2019 with a compound annual growth rate (CAGR) of 242 percent through 2022.”. Active companies in the cannabis industry includes: Weekend Unlimited Inc. (CSE: POT) (OTC: WKULF), Emerald Health Therapeutics Inc. (OTCQX:EMHTF) (TSXV:EMH), 1933 Industries Inc. (OTC: TGIFF) (CSE:TGIF), HEXO Corp.(NYSE: HEXO) (TSX: HEXO), Newstrike Brands Ltd. (OTC: NWKRF) (TSX-V: HIP).
An article published on BusinessInsider.com added: “The market for marijuana -infused beverages could hit $600 million in the US by 2022. CBD beverages alone could hit $260 million, with the remainder coming from THC-infused beverages. Big beverage makers have already taken notice and some are actively pursuing deals to capture the market.”
Weekend Unlimited Inc. (CSE: POT) (OTCQB: WKULF) (FSE: 0OS1) BREAKING NEWS: Weekend Unlimited is pleased to announce that Verve Beverage Company (VBC) has scheduled production for its CHAMP Energy and Verve beverage lines.
“We specifically targeted this point in time to launch our Full Spectrum Hemp products into the market as part of our activation at the HEMP TODAY experience at SXSWTM this week,” said Mr. Brad Robb, President of VBC.
– First large (60,000 bottles per sku) commercial production run of CHAMP Energy Functional RTD beverages will be ready for retail distribution beginning the week of March 18th
– First initial production run (5000 bottles per sku) of CHAMP Full Spectrum Hemp (30mg) functional RTD beverages for retail distribution March 18th
– March 12th-15th CHAMP Full Spectrum Hemp product launch at South by South West. This event will host 1000+ VIP guests over a two-day period where Weekend Unlimited LIVE and CHAMP will host high level influential people from a variety of channels as VIP sponsor to the SXSW Official HEMP TODAY educational activation
– Verve’s new 12oz can production to commence March 31st, with one additional sku called Verve Burn, a protein formulation scheduled to follow in April
“This represents a significant achievement for the Company, launching our brands with a focus on revenue generation. The VBC brand team is advancing their plan to reach market right on our schedule, the responses to the product line from distributors has allowed us to produce an aggressive first run to accelerate the build out and recognition of VBC’s product brands into the consumer marketplace,” said Weekend Unlimited President and CEO, Mr. Paul Chu. Read this full announcement and more news for Weekend Unlimited at: https://www.financialnewsmedia.com/news-pot/
Additional cannabis industry related developments from around the markets:
Emerald Health Therapeutics Inc. (OTCQX:EMHTF) (TSXV:EMH) this week announced that its 50%-owned joint venture for large-scale, low-cost, high-quality cannabis production, Pure Sunfarms Corp. (“Pure Sunfarms”), received from Health Canada its seventh amendment to its cultivation license for its 1.1 million square foot greenhouse in Delta, BC. The additional approximately 206,000 square feet of growing area in the fourth and final quadrant of the greenhouse brings Pure Sunfarms’ total licensed cannabis production area to approximately 1.03 million sq. ft. in 16 grow rooms. The newly licensed area is expected to be fully planted by the end of March.
1933 Industries Inc. (OTCQX: TGIFF) (CSE:TGIF.CN), a licensed cultivator and producer of cannabis flower and concentrates and manufacturer of hemp-derived CBD wellness products, this week announced the results of the 2019 Annual General Meeting (the “Meeting”) of its shareholders held in Vancouver. During the Meeting, the following matters put forth as outlined in the Management Information Circular were approved:
– Receiving the audited consolidated financial statements of the Company for the fiscal year ended July 31, 2018 (with comparative statements relating to the preceding fiscal period) together with the report of the auditor thereon;
– Appointing Davidson & Company LLP, Chartered Professional Accountants, as auditors of the Company for the fiscal year ending July 31, 2018 and authorizing the directors to fix the auditors’ remuneration;
– Determining the number of directors to be elected to the board at Six (6);
– and Electing directors – Messrs. Brayden Sutton, Cam Watt, Rick Skeith, Brian Farrell, Chris Rebentisch, and Andrew Richards were re-elected as directors of the Company.
HEXO Corp. (NYSE: HEXO) (TSX: HEXO) and Newstrike Brands Ltd. (OTCPK: NWKRF) (TSX-V: HIP.V) (“Newstrike”) this week announced that they have entered into a definitive arrangement agreement (the “Arrangement Agreement”) under which HEXO will acquire, by way of a plan of arrangement under the Business Corporations Act (Ontario), all of Newstrike’s issued and outstanding common shares in an all-share transaction valued at approximately $263 million (the “Transaction”).
Under the terms of the Arrangement Agreement, Newstrike shareholders will receive 0.06332 of a HEXO common share in exchange for each Newstrike common share held.
The Transaction gives HEXO the capacity to produce approximately 150,000 kg of high-quality cannabis annually. The Transaction also provides HEXO access to four cutting-edge production campuses totalling close to 1.8 million sq. ft. of near-term cultivation space and diversified growing and production techniques. This is in addition to HEXO’s 579,000 sq. ft. facility for a manufacturing and product development centre of excellence in Belleville, Ontario.
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Original Press Release: newswire.ca