NEW YORK, Feb. 11, 2019 /CNW/ -- Chronic pain is among one of America's most commonly present medical conditions. Within the U.S., approximately 70 million suffered from moderate to high levels of chronic pain in 2016, according to data by the National Health Interview Survey. As a result, many were prescribed opioids as a treatment to mitigate the pain. However, in the long run, the mass prescription of opioids had resulted in an epidemic. In 2017, there were 47,600 cases related to opioid overdose which resulted in death out of the reported 70,200 overall overdose incidents. The rising number of cases prompted many countries to pass medical cannabis laws in order to reduce the number of people dependent on opioids. The therapeutic effects of cannabis are known to suppress pain, but are also linked to treating other medical cases such as cancer and epilepsy. Although, due to the lack of large-scale clinical trials, cannabis is not yet recognized as medicinal by the U.S. Food and Drug Administration. Now however, many companies are pouring investments in the industry to further develop the research and global expansion of cannabis. According to data compiled by Verified Market Intelligence, the global marijuana market was valued at USD 42.20 Billion in 2017 and is projected to reach USD 466.81 Billion. Additionally, the market is expected to grow at a CAGR of 35.3% throughout the forecast period from 2018 to 2025. Weekend Unlimited Inc. (OTC: WKULF) (OTCQB: MYMMF), VIVO Cannabis Inc. (OTC: VVCIF), Nightfood Holdings, Inc. (OTC: NGTF), MYM Nutraceuticals Inc. (OTC: MYMMF) (CSE:MYM), PotNetwork Holdings, Inc. (OTC: POTN)
Despite the issue of federal legality revolving around medical cannabis, there are currently 33 states and the District of Columbia that have legalized cannabis for medical use. States are also allowing the use of many cannabis derivatives, such as CBD (cannabidiol), CBN (cannabinol) and THC (delta-9-tetrahydrocannabinol). CBD is one of the fastest growing segments in the cannabis market because it is the non-psychoactive derivative of cannabis and companies involved in both the medical and recreational markets are using CBD within their products. Hemp-derived CBD's effects had even prompted government regulators to remove it from the list of Schedule 1 drugs, even though other cannabis components like THC still remain on the list. "CBD has a number of known properties beneficial to the human condition, and research is just beginning," Aster Farms President Sam Ludwig told Civilized. "There are two markets for CBD: as a supplement, mild pain reliever and relaxant, and in larger doses, as a truly beneficial remedy for a variety of serious illnesses. There is no doubt it will be dominant supplement for years to come."
Weekend Unlimited Inc. (OTC: WKULF) also listed on the Canadian Securities Exchange under the ticker (CSE: POT). Earlier this morning the company announced breaking news that, "announces the appointment of Mr. Karl Schmieder, MS/MFA., to the role of Director, Business Development and Tom Wisniewski, Vice President Sales Operations. As an executive and entrepreneur, Mr. Schmieder brings more than 25 years of business development success in biopharmaceutical and internet industries. Mr. Wisniewski brings more than 20 years of sales expertise in consumer-packaged goods, investment, real estate, telecommunications industries.
"Karl is a strategic thinker who will contribute to the development of new products, partnerships and services. Tom brings diverse leadership experience in sales and operations and will help drive our national and international growth," said Mr. Paul Chu, President and Chief Executive Officer, Weekend Unlimited. "The addition of Karl and Tom helps strengthen Weekend's management as we execute our growth strategy," added Mr. Chu.
Mr. Schmieder co-founded messagingLAB, a strategy and marketing communications firm focused on the life sciences. He has successfully launched biotechnology companies and pharmaceutical products and services. He has held executive and business development positions at emerging digital health and leading strategy communications consulting firms.
Mr. Wisniewski is seasoned sales professional with extensive experience nationally and internationally. He has served as managing director of Rocket Holdings, a private investment and real estate group. In addition, Mr. Wisniewski served as field account manager at VHA Corporation and sales manager at Abmnus. Mr. Wisniewski is a pioneer in the wireless prepaid industry and lead the national sales team at iPrepaid Master, a national wireless services distribution company.
Karl Schmieder attended the University of California, Riverside, where he received his BS and MS degrees, and an MFA from Naropa Institute. He served as founder and Chief Executive Officer of messagingLAB. He is the co-author of "What's Your Bio Strategy? How to Prepare Your Business for Synthetic Biology" and speaks regularly on the transformation of business by biotechnology. Tom Wisniewski attended Arizona State University.
About Weekend Unlimited Inc. - Weekend Unlimited is capitalizing on its vast industry relationships to establish a lifestyle brand featuring premium products and delivering life's highest moments. The company aggregates and scales small to medium brands, primarily in the categories of flower, extracts and edibles. Weekend Unlimited brands have best of class operations, distribution and strong revenue trajectories, making them ideal candidates for the deployment of capital and expertise through access to technologies, infrastructure and centralized systems. Learn more at www.weekendunlimited.com
For our latest "Buzz on the Street" Show featuring Weekend Unlimited Inc. recent corporate news, please head over to: https://www.youtube.com/watch?v=-WUlX79gIQE
VIVO Cannabis Inc. (OTCQX: VVCIF), based in Napanee, Ontario, is recognized for trusted, high-quality products and services. VIVO Cannabis Inc. recently announced that its wholly-owned subsidiary, Harvest Medicine Inc., one of Canada's fastest growing specialty medical cannabis clinic networks, is launching a free telemedicine service for medical cannabis care and education via an app. The service, known as HMED Connect, will allow patients from across Canada to access Harvest Medicine's class leading education and patient-centric model at any time, from the comfort of their homes via mobile phone, tablet or computer. "HMED has been recognized for its unique approach and dedication to providing exceptional care at its physical clinics and we are now bringing that model into the virtual telemedicine space," stated Shekhar Parmar, Chief Executive Officer of HMED. "Our belief is that HMED Connect will transform the medical cannabis experience for patients and physicians and open the door to unique partnership opportunities with pharmacies, insurance companies, primary care physicians, and other healthcare organizations."
Nightfood Holdings, Inc. (OTC: NGTF), owns Nightfood, Inc. and MJ Munchies, Inc. MJ Munchies, Inc., a subsidiary of Nightfood Holdings, Inc. and Global Consortium, Inc., recently announced that the parties have entered into a Letter of Intent whereby Global Consortium subsidiary Infused Edibles would receive an exclusive license to manufacture and distribute marijuana and CBD-infused products under the Half-Baked™ mark owned by MJ Munchies. With commercial brands in the marijuana space increasingly frustrated by restrictive government advertising policies, both companies believe having the right brand name provides a distinct competitive advantage at retail in this rapidly-growing market. "We're excited to work with a company that shares our vision for national awareness and distribution," added MJ Munchies Chief Executive Officer Sean Folkson. "They have a track record of success in manufacturing and distributing a varied line of products that succeed at retail. We've been working on this for some time, which is why we have not been commenting publicly about the MJ Munchies side of our company. Now, the broad strokes are in place, and we're going to work together to quickly finalize the agreement."
MYM Nutraceuticals Inc. (OTCQB: MYMMF) (CSE:MYM) is an innovative company focused on the global growth of cannabis and hemp. MYM Nutraceuticals Inc. recently announced that the Company is exploring other potential partnerships and will not be proceeding with the project with Australia-based Solaris Nutraceuticals and the proposed Casino, New South Wales, production facility. In furtherance of this, Solaris is in the process of deregistering the company. The shareholders of Solaris, including MYM, determined that deregistration was the best way to move forward allowing MYM and others to pursue other exciting projects and opportunities in Australia. "MYM determined based on the structure of the transaction and our minority interest in the Solaris deal, that it was not in our best interest to proceed with our current partners", said Rob Gietl, Chief Executive Officer of MYM. "We are committed to becoming a global player and expanding our business into Australia. Our recent announcement stating we've entered into a conditional agreement with Sunmark Growth speaks to this fact. We believe that legalization barriers will be softened around the globe with Australia being a prime candidate for reform. MYM will be there when these changes occur to take full advantage of new business opportunities".
PotNetwork Holdings, Inc. (OTC: POTN) is a publicly traded company that acts as a holding company for its principal subsidiaries, First Capital Venture Co., the owner of Diamond CBD, Inc., the maker of Diamond CBD products. Diamond CBD Inc., wholly owned subsidiary of PotNetwork Holdings, Inc., recently announced that it is presenting its popular line of Diamond CBD oils, edibles, and creams to several large pharmacy chains. "Our array of CBD products already play an active role in the wellness routine of thousands of Americans," said Kevin Hagen, Chief Executive Officer of Diamond CBD parent company PotNetwork Holdings, Inc. "That's why we are happy to present the benefits of CBD and our popular oils, edibles and beauty products to several large pharmacy chains in the days ahead."
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