PALM BEACH, Fla., March 9, 2021 /PRNewswire/ — Out of all cannabinoids, cannabidiol is most widely used for therapeutic reasons due to the lack of psychoactive effects. In many medical applications, cannabidiol oil (CBD) is used, such as anxiety and depression treatment, stress relief, diabetes prevention, pain relief, cancer symptom relief, and inflammation. Due to its healing properties, the demand for cannabidiol for health and wellness purposes is high, which is the major factor driving the market growth. In addition, the rising acceptance and use of products due to government approvals is a major factor expected to boost production for CBD-infused products. Due to the increasing adoption of CBD-based products to treat ailments, the global cannabidiol market is anticipated to grow at a lucrative rate over the forecast period. A recent report from Grand View Research projects that “The global cannabidiol market size was valued at USD 2.8 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 21.2% from 2021 to 2028.” Active Companies from around the market with current developments this week include: Marijuana Company of America, Inc. (OTCPK: MCOA), Medical Marijuana, Inc. (OTCPK: MJNA), Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI), Sundial Growers Inc. (NASDAQ: SNDL), Kona Gold Beverage, Inc. (OTCQB: KGKG).
The Grand View Research report said that: “Increasing awareness of cannabidiol’s therapeutic benefits has influenced a buyer to buy cannabidiol products, regardless of their cost. As these have a greater profit margin, commercial retailers are now focusing on selling cannabis-based products. Numerous health and wellness retailers are offering CBD-based products, such as Rite Aid, CVS Health, and Walgreens Boots Alliance. In addition, CVS Health decides to offer CBD topicals all over its 800 stores and Walgreens Boots Alliance is selling CBD-containing topicals across 1500 of its stores in the U.S.”
Marijuana Company of America, Inc. (OTCPK: MCOA) BREAKING NEWS: Marijuana Company of America Inc. Signs strategic collaboration agreement with Eco Innovation Group, Inc., to Expand its Global Cannabis Sector Offering – Marijuana Company of America, an emerging company and leader offering unique exposure to the global cannabis sector, today announced that in an ongoing effort to position itself as a leader in the marketplace by offering diversification with sophistication has entered into a strategic collaboration by signing a Share Exchange Agreement with Eco Innovation Group, Inc. (OTCPK: ECOX).
Marijuana Company of America is an emerging company and leader offering unique exposure to the global cannabis sector. The Company recently transitioned from research & development to a revenue-producing cannabis marketing company focused on sales & marketing of the Company’s line of proprietary botanical legal hemp-based CBD (cannabidiol) “hempSMART™” products.
Eco is an innovative company aggregating investments in new technologies that promote environmental and social well-being and the advancement of green energy solutions.
Under the agreement, MCOA and Eco Innovation Group, Inc. will collaborate in order to seek mutual strategic opportunities that exist to leverage both companies’ global presence. MCOA indicated that it had made this investment with ECO Innovation Group, Inc. because they offer among many inventions, a strong application for CBD and licensed marijuana extraction that utilizes a non-CO2 solvent to extract valuable bioactive compounds from plant-based materials to create a fluid output.
Jesus M. Quintero, CEO of MCOA, stated, “Our collaboration and achievements we make with Eco Innovation Group, Inc., and other corporate partners will advance our leadership position and have a positive impact on our business opportunities. Now more than ever we will be able to use our newly launched e-commerce platform to strategically distribute and market new products and technologies including Eco’s cutting-edge extraction platform. We have positioned ourselves to quickly identify and accelerate the development of new varieties of hemp based products and distribute them across the Globe.”
According to the Agreement, Marijuana Company of America issued $650k in MCOA common stock to Eco Innovation Group on March 1, 2021 in exchange for $650k in ECOX common stock, with the number of shares being determined by a reference price based on recent trading activity, as established in the Agreement. Read this and more news for MCOA at: https://www.financialnewsmedia.com/news-mcoa/
In the industry developments and happenings in the market this week include:
Organigram Holdings Inc. (TSX: OGI) (NASDAQ: OGI), the parent company of Organigram Inc., a leading producer of cannabis, recently announced the launch of two new additions to the Company’s recreational cannabis product portfolio: SHRED Tropic Thunder Jar of Joints and Trailblazer SNAX Milk Chocolate Bars.
“At Organigram, seeking out and acting upon consumer feedback is a core element of our product development program,” said Greg Engel, CEO, Organigram. “The addition of these new products to our lineup of positively reviewed and most-searched brands – one offering the decadence of world-class chocolate and the other, a launch of an exceptional value product from the brand that we believe has set a new standard in the pre-milled category – are a direct response to the preferences our consumers have shared with us.”
Medical Marijuana, Inc. (OTCPK: MJNA), the first-ever publicly traded cannabis company in the United States that launched the world’s first-ever cannabis-derived nutraceutical products, brands and supply chain, recently announced that its subsidiary Kannaway® has received Certified Drug Free approval from the Banned Substances Control Group (BSCG), a leading third-party certification and testing provider of dietary supplements and natural products, for its broad-spectrum cannabidiol (CBD) product Pure Gold.
“As pioneers in the CBD industry, we were one of the first companies to conduct third-party testing on all of our products and provide those results to our customers,” said Medical Marijuana, Inc. CEO Dr. Stuart Titus. “This certification furthers our dedication to providing athletes and general consumers alike the confidence to enjoy Pure Gold CBD without the fear of drug testing.”
Sundial Growers Inc. (NASDAQ: SNDL), a Canadian licensed producer of recreational cannabis and Indiva Limited (TSXV:NDVA) (OTCQX:NDVAF), a leading Canadian producer of cannabis edibles, recently announced the closing of the previously announced $22,000,000strategic investment into Indiva by Sundial.
The Investment was completed by way of a brokered private placement led by ATB Capital Markets Inc. of 25,000,000 common shares of Indiva at a price of $0.44 per Common Share, raising gross proceeds of $11,000,000 (the “Equity Investment”), and a secured non-revolving term loan facility to Indiva in the principal amount of $11,000,000. Sundial was the sole subscriber in the Placement and sole lender of the Term Loan. The Term Loan matures on February 23, 2024 and bears an interest rate of 9% per annum. 50% of accrued interest is payable in cash on the last day of each month and the remaining 50% of accrued interest is payable, at the option of Indiva, (i) in cash on the last day of each month, or (ii) payable in arrears on the Maturity Date. The Term Loan was issued at an original issue discount of 4% and provides that upon a change of control of Indiva, Sundial shall have the option exercisable within 60 days to require Indiva to prepay 104% of the outstanding principal amount of the Term Loan and all accrued and unpaid interest.
Kona Gold Beverage, Inc. (OTCQB: KGKG), a holding company focused on product development in the better-for-you and hemp and CBD functional beverage sector, recently announced February 2021 revenues from the Company’s subsidiaries were the highest monthly revenues when compared to the previous monthly revenues over the last 15 months.
Kona Gold LLC saw revenue of over $115,000, and Gold Leaf Distribution saw revenue of almost $60,000 in the month of February. This was the highest monthly revenue for Kona Gold LLC dating back to November of 2019, and Gold Leaf Distribution LLC’s highest monthly revenue to date. Gold Leaf Distribution continues to break monthly revenue records and is nearing profitability. Kona Gold LLC realized an increase in a gross profit margin of approximately 22% in February of 2020 to approximately 40% in February of 2021. Gold Leaf Distribution LLC continues to operate at a gross profit margin ranging from 28-30%, which is above industry standards of approximately 25%.
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