PALM BEACH, Florida, August 22, 2018 /PRNewswire/ —
MarketNewsUpdates.com News Commentary
The most valuable sector of the Cannabis Industry may just be the extract of Cannabidiol (CBD), which has transformed into a wide variety of products ranging from health supplements to pet products. CBD based products have generated billions in revenue for leading Cannabis-based companies, creating a strong sense of luster as investors dissect the industry’s true value. One of the emerging trends of CBD continues to be that of health supplements, especially as it relates to pets. The potential in this area is largely untapped, with Americans spending nearly $70 billion on their pets in 2017, according to the American Pet Products Association. This already strong and proven spending, combined with the revenues of CBD based products, poses a unique and powerful opportunity for those in these two spaces. Active companies in the Cannabis markets this week include Cannabis Strategic Ventures, Inc. (OTC: NUGS), Sugarmade Inc (OTC: SGMD), CV Sciences, Inc. (OTC: CVSI), Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON), Canopy Growth Corp (NYSE: CGC) (TSX: WEED).
Recent developments in the cannabis industry include:
Sugarmade Inc (OTCPK: SGMD) closed Tuesday up 42.86% after more than 6 million shares were traded throughout the day. The company also announced a new corporate initiative in the booming hemp market. Sugarmade is committing up to $1,000,000 in capital over the next twelve months to invest in Hempistry, Inc. a privately held Nevada corporation, which has begun planting an ultra-high cannabidiol (CBD) industrial hemp strain in the U.S. State of Kentucky. Additionally, Sugarmade expects to sign an agreement with Hempistry for hemp cultivation supplies. Hempistry has already begun planting and has signed an agreement reserving up to 23,000 acres of prime Kentucky farmland for its exclusive use for hemp cultivation.
Additionally, Sugarmade’s CEO, Jimmy Chan, announces he has become an advisor to and a shareholder in Hempistry, Inc. According the Hemp Business Journal, the U.S. Hemp industry produced at least $820 million in revenues during 2017, with growth to over $1 billion for 2018, and an expected 14% compound annual growth rate through 2022. Much of the recent growth has come from the demand for hemp-derived CBD for use in health and wellness products. The strain of industrial hemp being grown by Hempistry is ultra-rich in CDB, but contains less than 0.3% of THC, the psychoactive ingredient found in marijuana. Hempistry has already begun planting and thus far has 100 acres of this high CDB strain under cultivation. In total, Hempistry has optioned 23,000 acres.
DISCLAIMER: MarketNewsUpdates.com (MNU) is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. MNU is NOT affiliated in any manner with any company mentioned herein. MNU 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. MNU’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. MNU 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 MNU 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. MNU 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 MNU undertakes no obligation to update such statements.