World News: 11:30 GMT Friday 9th November 2018. [Cannagreed via Globe Newswire via SPi World News]
NEW YORK, Nov. 09, 2018 (GLOBE NEWSWIRE) -- News Commentary:
According to a recent report issued by New Frontier Data, the U.S. CBD industry grew by nearly 40% in 2017, reaching $367 million in sales across hemp-derived and marijuana-derived markets. This marks the first year that sales of hemp-derived CBD products outpaced marijuana-derived CBD products. Much of the recent growth has come from the demand for hemp-derived CBD for use in health and wellness products.
Missouri and Utah passed initiatives to legalize medical marijuana, joining 31 other states, Washington, D.C., Guam and Puerto Rico, which already permit medicinal use. Recreational marijuana is already legal in Washington, D.C., and nine other states: Washington, Oregon, Nevada, California, Colorado, Alaska, Vermont, Maine and Massachusetts.
Jeff Sessions' departure has signaled the fall of a major political roadblock to more widespread legalization. In response, cannabis stocks saw a surge in momentum.
NASDAQ’s Alternative Harvest Marijuana ETF, a fund that bundles tradable assets for the cannabis industry, was up sharply in the hour after the Sessions announcement.
His departure could be beneficial for publicly traded companies in the Hemp/CBD space such as Enviro Technologies International, Inc. (OTC: ETII), Kona Gold Solutions, Inc. (OTC: KGKG) and CV Sciences (OTC: CVSI).
After being acquired by Enviro Technologies International, Inc. (OTC: ETII) in January, CBD Health Co. (), a company that markets and sells high quality and proprietary hemp-based, natural CBD health products, announced the launch of a sister fitness and media company that will market fitness hemp-based products and health films.
Hemp products are now used in sports medicine to control pain, decrease inflammation and reduce stress; hemp-based products have also been found to aid in bone, nerve and tissue regeneration, which are particularly relevant and needed remedies in the amateur and professional sports arenas. As of January 2018, The World Anti-Doping Agency (WADA) has curtailed its probation for athletes using hemp-based products as health remedies and, as of 2018, amateur and professional athletes will not be disqualified from their individual sports for using hemp products.
“Phytolife Fitness will provide athletes with safe and natural pain relief, along with high quality proteins, MCT oils, and energy supplements. Our team of scientists, nutritionists, and trainers have created custom formulations to fit individual needs, such as building muscle to losing weight,” said Jo De Leon, CBD’s President. “Our health films will supplement our extraordinary products’ usage and help build awareness of hemp-based products.
“CBD’s mission is to educate and help its customers understand how to help the human body achieve its full potential by providing high-quality products and information backed by science. Phytolife Media will release weekly videos on CBD health, meal preparation, and normal incorporation of our products into their diets, daily regimen and lifestyle.”
Phytolife Fitness will work closely with and endorse athletes involved in high impact sports, such as the UFC, NFL, and boxing. To keep up with our day-to-day activity, visit CBDHEALTHCO.com and Phytolifefitness.com.
“CBD continues to be a leader in hemp products usage and Phytolife Fitness’ entry into the global sports nutrition and supplements market is another step in our quest to dominate a market that BusinessInsider.com believes will reach over $11B in revenues in the next 5-6 years,” said Randall Waters, ETI’s Vice President of Sales & Marketing.
Kona Gold Solutions, Inc. (OTC: KGKG) , a Delaware Corporation, was pleased to announce a two hundred and twenty-five percent (225%) increase in revenue from the previous month. The Company recorded its strongest month-to-date off of the signing of new distribution partners and extremely strong sales of its popular Kona Gold Hemp Energy Drinks and HighDrate CBD Energy Waters. The Company has also seen an eight-seven percent (87%) increase in sales on Amazon.com over the last 30 days and a two hundred and ninety-two percent (292%) from this time last year.
CV Sciences (OTC: CVSI), the U.S.-based company whose primary product is a chewing gum that combines CBD with nicotine, which is used in the treatment of addiction to smokeless tobacco. CSVI’s therapy product has significant upside for the legal-weed industry. The company’s product demonstrates that cannabis has uses that extend beyond its stereotypical image as a recreational drug, and the market has reacted very positively to the Company’s recent developments. CSVI posted over a 100% revenue gain from the 2016 to 2017 fiscal years, and surpassed its 2017 sales figure through the first 6 months of fiscal 2018.
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Globe Newswire: 11:30 GMT Friday 9th November 2018
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