• Skip to main content
  • Skip to footer
Eco Friendly CBD OIL

Eco Friendly CBD OIL

The Best Eco Friendly CBD Oil

  • Home
  • CBD Health
  • Cannabis News
  • Contact

CBD OIL

HEXO and 48North Announce Closing of Arrangement

September 2, 2021 by CBD OIL

OTTAWA and TORONTO, Sept. 01, 2021 (GLOBE NEWSWIRE) — PRESS RELEASE — HEXO Corp. and 48North Cannabis Corp. have announced that they have completed the previously announced arrangement, pursuant to which HEXO has acquired all of the issued and outstanding common shares of 48North by way of a court-approved plan of arrangement under the Canada Business Corporations Act.

Under the terms of the arrangement, each former shareholder of 48North is now entitled to receive 0.02366 of a common share in the capital of HEXO for each 48North Share held immediately prior to the completion of the arrangement. It is anticipated that the 48North Shares will be de-listed from the TSX Venture Exchange as of the close of trading on or about Sept. 2, 2021.

In order to receive the consideration, registered holders of 48North Shares will be required to deposit their share certificate(s) representing 48North Shares, together with a duly completed letter of transmittal, with TSX Trust Company, the depositary under the arrangement. Shareholders whose 48North Shares are registered in the name of a broker, dealer, bank, trust company or other nominee should contact their nominee regarding the receipt of the consideration.

Further information about the arrangement is set forth in the materials prepared by 48North in respect of the special meeting of 48North shareholders held on Aug. 17, 2021, which were mailed to 48North shareholders and filed under 48North’s profile on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com.

Warrants

Warrants to purchase 48North Shares, other than those exercised prior to 12:01 a.m. (Toronto time) on Sept. 1, 2021, will continue to remain outstanding as warrants of 48North, which, upon exercise, will entitle the holder thereof to receive, in lieu of the number of 48North Shares to which such holder was theretofore entitled upon exercise of such 48North warrants, the consideration in the form of HEXO Shares that such holder would have been entitled to be issued and receive if, immediately prior to the effective time, such holder had been the registered holder of the number of 48North Shares to which such holder was theretofore entitled upon exercise of such 48North warrants. All other terms governing the warrants, including, but not limited to, the expiry term, exercise price and the conditions to and the manner of exercise, will be the same as the terms that were in effect immediately prior to the effective time, and shall be governed by the terms of the applicable warrant indenture or the applicable warrant certificate.

As required by the warrant indentures in respect of the applicable warrants, HEXO has entered into supplemental warrant indentures in respect of such warrant indentures governing applicable warrants. A copy of each such supplemental warrant indenture will be available on 48North’s and HEXO’s respective SEDAR profiles at www.sedar.com.

Listed 48North Warrants 

Prior to the completion of the arrangement, 48North had outstanding one class of warrants to purchase 48North Shares listed on the TSX-V under the trading symbol ‘NRTH.WT.’ It is anticipated that the listed 48North warrants will be listed and commence trading on the Toronto Stock Exchange (TSX) under the symbol ‘HEXO.WT.A’ as of the opening of trading on Sept. 3, 2021. The listed 48North warrants will then remain listed on the TSX until the earliest to occur of their exercise, expiry or de-listing. HEXO has entered into a supplemental warrant indenture in respect of the Listed 48North warrants, a copy of which will be available on 48North’s and HEXO’s respective SEDAR profiles at www.sedar.com.

Options

Holders of 48North options have received replacement options under the arrangement, exercisable for HEXO Shares at the same conversion ratio applicable to the 48North Shares. All other terms and conditions of the replacement options, including the term of expiry, vesting, conditions to and manner of exercising, are the same as the 48North options for which they were exchanged, and any certificate or option agreement previously evidencing 48North options now evidences (and shall be deemed to evidence) such replacement options.

Other Matters 

48North has been granted exemptive relief from certain continuous disclosure and insider reporting requirements by the applicable securities regulators. Holders of Listed 48North warrants will be directed to reference, and rely on, the public disclosure filings of HEXO in lieu of those of 48North.

In connection with the completion of the arrangement, each of the officers and directors of the boards of directors of 48North and its subsidiaries resigned.

HEXO’s and 48North’s operations are subject to a variety of laws, regulations and guidelines relating to the marketing, acquisition, manufacture, management, transportation, storage, sale and disposal of cannabis but also including laws and regulations relating to health and safety, the conduct of operations and the protection of the environment. To the knowledge of HEXO’s management, HEXO and 48North have been and, following the completion of the arrangement, continue to be in compliance with all such laws. More specifically, to the knowledge of HEXO’s management, HEXO is in compliance with applicable laws in the jurisdictions in which it operates. Changes to such laws, regulations and guidelines due to matters beyond the control of HEXO and 48North may cause adverse effects to HEXO’s and 48North’ combined operations.

Advisors and Counsel

Cormark Securities Inc. acted as financial advisor to 48North. Norton Rose Fulbright Canada LLP acted as legal counsel to HEXO, and Bennett Jones LLP acted as legal counsel to 48North.

Filed Under: Cannabis News

Troubleshooting CBD: Why Doesn’t It Work For Some People?

September 2, 2021 by CBD OIL

Some are turning to cannabidiol (CBD) to reduce stress. Another population group uses it to sleep at night, while still others find relief for a growing list of other disorders. With the popularity of this safe, non-intoxicating compound rising, it can feel like the answer to any question is “CBD”.

But what if you tried it and didn’t feel anything? Are you the only one who has this supposedly miraculous connection not working?

The problem with CBD is the lack of official guidance on how to do it. While international Health organizations He hasI have confirmed Cannabidiol safe and well tolerated, there are almost no established medical protocols on the method of use, dose size, and formula.

Given this lack of official advice, it’s no wonder some people are disappointed with a personal CBD trip. That’s why we at Elevated Wellness decided it was high time we demystified some of the most common misconceptions about this hemp-based product Cannabidiol.

If you’ve tried CBD and it didn’t work, let’s fix the errors.

Choose the right method of consumption

Rubbing in a CBD-infused cream for chronic stress relief may not do what you were hoping for. The same goes for adding a few drops of CBD tincture under your tongue to soothe sore muscles.

When it comes to CBD, choosing the right product formulation and route of administration can dramatically improve the chances of feeling the positive effects.

For example, topically applied CBD penetrates the surface of the skin to work on the endocannabinoid receptors in the epidermis – but it never goes deeper.

On the flip side, CBD tinctures and oils dripped under the tongue are absorbed through the lining of the mouth (or via the digestive tract) to flow through the bloodstream and eventually to the brain.

You can go a step further by dialing into advanced formations. Elevated Wellness offers broad spectrum and full spectrum CBD formulas to take advantage of a variety of other cannabinoids and terpenes for synergistic benefits known as the entourage effect.

A few pointers on the correct dosage

The dosage is just as important as the method of ingestion. The effects of cannabidiol are biphasic or dose dependent. Small to moderate amounts produce a number of effects while larger amounts produce another.

This is most evident when it comes to CBD for sleep. Lower doses seem to stimulate wakefulness, while higher doses (over 300 mg) improve sleep. Other to learn Research into the anti-anxiety effects of CBD showed a significant reduction with 300 mg of CBD, but none with 100 mg or 600 mg.

With no government guidelines on dosage, it’s no wonder consumers get frustrated when they find the right dose. Of course, it’s always a good idea to “start low and go slowly,” but patience is key. It may take a few days (or even a few weeks) to reach these higher doses.

Is It Time To Try CBD Oil Again?

If you threw your CBD bottle away because you didn’t “feel” anything, it may be time to try again.

Elevated Wellness is committed to providing better guidance on method, dosage, and formulation. Take it slow and be patient as you experiment with the dose.

A couple of takeaways if you are starting your CBD journey again. First, adjust the correct method for your condition. Second, choose full or broad spectrum CBD oils with advanced bioavailability. Third, CBD is two-phase and may require a higher daily dose than you were led to believe.

Chris Adlakha, PharmD, operates compounding pharmacies in Texas, where his Increased wellness CBD line of products are manufactured in state-of-the-art, regulated laboratories with pharmaceutical science.

Filed Under: CBD Health

Ayr Wellness Enters Agreement to Acquire PA Natural Medicine, LLC

September 2, 2021 by CBD OIL

<![CDATA[

NEW YORK, September 1, 2021 – PRESS RELEASE – Ayr Wellness Inc., a vertically-integrated cannabis multi-state operator (MSO), has entered into a binding letter of intent to acquire PA Natural Medicine, LLC, an operator of three licensed retail dispensaries, deepening Ayr’s presence in the rapidly growing medical market in the Commonwealth of Pennsylvania.

"Our goal across our footprint is to develop scale and meaningful presence in each of our markets," said Jonathan Sandelman, Ayr Wellness founder, chairman and CEO. "[This] announcement builds on our already strong position in Pennsylvania, where we have built a tremendous foundation since entering the state just a few months ago. Our three Ayr Wellness stores, open an average of less than six months, are run-rating at over $7 million in annualized revenue per dispensary, and our cultivation facilities are producing some of the best-reviewed flower in the state."

"With such great momentum in this market, we are expanding our retail presence with the acquisition of PA Naturals, a three-store operation in central Pennsylvania with some of the best-operating metrics in the state and a complementary footprint to our existing six licenses. We look forward to welcoming the great people of PA Naturals to the Ayr team," he concluded.

PA Naturals has locations in the college towns of Bloomsburg and State College, as well as Selinsgrove, PA, and operates under the retail banner "Nature’s Medicine." The acquisition is expected to close in Q4 2021, and the Company expects to rebrand the dispensaries under the AYR Wellness banner shortly after completing.

Ayr intends to purchase 100% of the membership interests of PA Natural. The transaction terms include upfront consideration of $80 million, made up of $20 million in stock, $25 million in seller notes and $35 million in cash. An earn-out of up to $40 million, based on 2021 EBITDA hurdles, is payable in Q1 2022 and includes a maximum additional cash payment of $10 million, with the remainder paid in stock and notes.

The acquisition is subject to customary closing conditions and regulatory approvals. Operations of PA Naturals will remain unchanged pending the closing.

]]>

Filed Under: Cannabis News

Colorado to Bolster Hemp Testing Rules, Rollout Delayed

September 2, 2021 by CBD OIL

Earlier this year, the Colorado Department of Public Health and Environment (CDPHE) announced a plan to introduce new testing rules for the state’s growing hemp industry. Under the new regulations, hemp products must be tested for residual solvents, heavy metals and pesticides, in addition to making sure they contain less than 0.3% THC.

The CDPHE are planning on a gradual rollout to prevent any supply chain issues or a lab testing bottleneck, similar to what we’ve seen in other states launching new testing requirements in years past, such as Arizona or California. Well, the Colorado rollout appears to be hitting similar snags and because of supply chain issues related to instruments and consumables in laboratories, the implementation of those testing rules is somewhat delayed. What was originally supposed to be implemented over the summer was pushed back to an October 1 deadline, and that deadline has now been pushed back to 2022.

The pesticide testing list to be implemented January 1, 2022

As a result of supply chain shortages and the learning curve to test for such a wide range of pesticides, Colorado is opening hemp testing to out-of-state labs in an effort to stay on schedule with the rollout. Dillon Burns, lab manager at InfiniteCAL, a cannabis testing company with locations in California and Michigan, just completed an audit with the CDPHE in their work to get certified and start conducting hemp testing for businesses in Colorado.

Burns says they’re well-acquainted with the list of pesticides because of how similar the list is to California’s requirements. “For the pesticide testing rules that were supposed to go into effect on August 1st, it’s basically the same list as California just with slightly different action levels,” says Burns. “I would say these action limits are generally stricter – they have much lower LOQs [limits of quantification].”

The pesticide testing list (continued) to be implemented January 1, 2022

Come January 1, 2022, they are expecting an additional 40 pesticides to be required under the new rules. “But currently, it’s still unclear when these regulations will actually go into effect,” says Burns. The full pesticide testing list is currently slated to be implemented on April 1, 2022.

The supply chain issues referenced above have a lot to do with what the state is asking labs to test for. Previously, most of the pesticides tested for under Colorado’s adult use and medical cannabis programs could be analyzed with an LC/MS. A handful of pesticides on the new list do require GC/MS, says Burns. It’s entirely possible that a lot of labs in Colorado just don’t have a GC/MS or are in the process of training staff and developing methods for using the new instrument. “Cleanliness of these instruments is such a priority that it takes time to acquire the right skill set for it,” says Burns.

Dillon Burns, Lab Manager at InfiniteCAL

The new testing rollout isn’t just another compliance hurdle for the cannabis industry; these rules are about protecting public health. Dillon Burns said he’s seen hiccups in California with the amount of new hemp farmers getting into the space. “The hemp products we’ve tested in California often fail for pesticides,” says Burns. It’s a lot easier in most states to get a license for growing hemp than it would be for growing adult use cannabis. “You’ll see a lot more novice growers getting into hemp farming without a background in it. They’ll fail for things they just haven’t considered, like environmental drift. We see a lot of fails in CA. Hemp is bioaccumulating so it presents a lot of problems. If they’re not required to look for it, they weren’t monitoring it.”

When asked how the market might react to the new rules, Burns was confident that Colorado knows what they’re doing. “I don’t anticipate that [a testing bottleneck] happening here. The regulators are reasonable, supportive of the industry and opening it up to out-of-state labs should help in preventing that.”

Filed Under: Cannabis News

Greenlane and KushCo Complete Merger, Creating Leading Ancillary Cannabis Company and House of Brands

September 2, 2021 by CBD OIL

It took recently inaugurated New York Gov. Kathy Hochul less than two weeks do what former Gov. Andrew Cuomo failed to accomplish in the five months following his signing of the Marijuana Regulation and Taxation Act (MRTA).

Hochul nominated former Drug Policy Alliance staffer Chris Alexander for executive director of the new Office of Cannabis Management (OCM) and former New York Assemblywoman Tremaine Wright for chair of the Cannabis Control Board (CCB) during a special legislative session that convened Sept. 1.

Hochul, who became New York’s first female governor last week—after Cuomo resigned following months of sexual harassment allegations—called for the session the previous day.

Established within New York’s Division of Alcoholic Beverage Control, the OCM will operate as an independent entity with exclusive jurisdiction to oversee not only the adult-use cannabis regulatory structure but also the state’s existing medical cannabis and hemp programs. The five-member CCB will govern the office.

Hours after Hochul announced her picks to head the OCM and CCB, the Senate confirmed her appointees. Now, after months of being stalled, MRTA’s authoritative arm is free to move forward with oversight infrastructure for licensure, cultivation, production, distribution, sale and taxation.

Drug Policy Alliance Executive Director Kassandra Frederique said in a statement she applauded the nominations.

Frederique said, “By moving swiftly to establish the adult-use cannabis program after delays under her predecessor and nominating leaders who have long been involved in the fight for marijuana justice in New York, Gov. Hochul is sending a strong signal that the landmark racial and economic justice provisions we fought so hard for in the Marijuana Regulation and Taxation Act will be taken seriously and implemented accordingly.”

Drug Policy Alliance

Chris Alexander was confirmed as the executive director of the Office of Cannabis Management in New York. 

Alexander, a government relations and policy manager in the cannabis sector for the past year, spent 3 1/2 years as a policy coordinator at Drug Policy Alliance from 2015-2018 and was an associate counsel to the New York Senate from 2019-2020. A New York resident from Queens, he was involved in crafting MRTA to ensure it prioritized racial and economic justice.

As OCM executive director, Alexander will oversee certain powers in the industry, such as performing inspections of any premises where cannabis or hemp are manufactured, cultivated, processed, stored, distributed or sold; prescribing forms of applications for licenses, registrations and permits; coordinating across state agencies and departments; and the like.

“I worked over the last several years leading the effort, from a variety of perspectives, to end marijuana prohibition in the state and to bring about the new regulated market and diverse industry that we have jumpstarted today,” Alexander said at a Senate Finance Committee hearing Wednesday, before the full chamber approved him as the nominee.

“I have built and led the statewide campaign to end prohibition as the policy coordinator at the Drug Policy Alliance, where we assembled a coalition of advocates, educated communities across the state and pushed you all to consider what taxing and regulating cannabis could look like,” he said. “It was in that role that I began drafting what would become the Marijuana Regulation and Taxation Act and eventually the cannabis law.”

Also, in his work as a government relations and policy manager for Black-owned Village and sister-company Viola, Alexander said he’s seen first-hand the challenges experienced by entrepreneurs in the space, “particularly those of color,” who have limited access to capital and are asked to navigate a “jigsaw puzzle” of laws and regulations with little to no assistance.

Drug Policy Alliance

Tremaine Wright was confirmed as the chair for the Cannabis Control Board in New York. 

Meanwhile, Wright represented New York’s 56th District from 2017 through 2020. During that time, the Democrat from Brooklyn was the chair of the New York State Black, Puerto Rican, Hispanic and Asian Legislative Caucus. A University of Chicago Law School graduate, Wright was an associate with Paul Hastings and a staff attorney at Skadden, and she practiced as a public defender with Brooklyn Law Services.

Not to mention, Wright spent 14 years sitting on and chairing a local community planning board and 8 1/2 years as a coffee shop owner.

As CCB chairwoman, Wright will head a five-member board that has sole discretion to limit, or not to limit, the number of registrations, licenses and permits to be issued within the state in a manner that prioritizes social and economic equity applicants (with the goal of 50% awarded to such applicants), considers small business opportunities and concerns, avoids market dominance in sectors of the industry and reflects the demographics of the state. Among other functions, the board will also have discretion to issue, refuse to issue or revoke any registration, license or permit.

“This is one of those moments where we’re all coming together and we have an opportunity to create an entire industry from the bottom up, which will provide access as well as needs to people throughout this state and give them a way to participate in an industry which has the potential to be a tremendous economic engine here in our state,” Wright said during the Senate Finance Committee hearing Wednesday.

“In every single community throughout this state, cannabis has the potential to be a driver for communities to create opportunities, to create the outcomes and to shape the manner in which they want cannabis to play out in their community,” she said. “That’s what we need.”

In addition to her background as a state representative, lawyer and business owner, Wright is currently serving as New York’s first director of the Statewide Office of Financial Inclusion and Empowerment to help meet the financial services and needs of low- and middle-income New Yorkers.

Frederique said Wright and Alexander’s resumes speak from themselves.

“They both understand the deep harm that criminalization has caused to individuals and communities—especially communities of color—across the state,” Frederique said. “Their past work has reflected a commitment to working with people who have been directly impacted by prohibition and demonstrated a belief in evidence-based policies that center equity and justice.”

Democratic State Sen. Liz Krueger, the Finance Committee chair who sponsored MRTA, said in a statement she was extraordinarily pleased with the governor’s nominations.

“Their hard work, knowledge and dedication will ensure that the historic law we passed this year will be implemented the right way, with focus and equity that brings real benefits to the communities that have suffered the most under prohibition,” she said. “I am grateful to Gov. Hochul for demonstrating her seriousness of purpose and collaborative vision by moving swiftly to make such excellent nominations. The process of implementing MRTA has been delayed too long, but finally we are seeing some light at the end of the tunnel.”

Filed Under: Cannabis News

New York Governor Nominates Cannabis Regulatory Heads; Senate Confirms

September 2, 2021 by CBD OIL

It took recently inaugurated New York Gov. Kathy Hochul less than two weeks do what former Gov. Andrew Cuomo failed to accomplish in the five months following his signing of the Marijuana Regulation and Taxation Act (MRTA).

Hochul nominated former Drug Policy Alliance staffer Chris Alexander for executive director of the new Office of Cannabis Management (OCM) and former New York Assemblywoman Tremaine Wright for chair of the Cannabis Control Board (CCB) during a special legislative session that convened Sept. 1.

Hochul, who became New York’s first female governor last week—after Cuomo resigned following months of sexual harassment allegations—called for the session the previous day.

Established within New York’s Division of Alcoholic Beverage Control, the OCM will operate as an independent entity with exclusive jurisdiction to oversee not only the adult-use cannabis regulatory structure but also the state’s existing medical cannabis and hemp programs. The five-member CCB will govern the office.

Hours after Hochul announced her picks to head the OCM and CCB, the Senate confirmed her appointees. Now, after months of being stalled, MRTA’s authoritative arm is free to move forward with oversight infrastructure for licensure, cultivation, production, distribution, sale and taxation.

Drug Policy Alliance Executive Director Kassandra Frederique said in a statement she applauded the nominations.

Frederique said, “By moving swiftly to establish the adult-use cannabis program after delays under her predecessor and nominating leaders who have long been involved in the fight for marijuana justice in New York, Gov. Hochul is sending a strong signal that the landmark racial and economic justice provisions we fought so hard for in the Marijuana Regulation and Taxation Act will be taken seriously and implemented accordingly.”

Drug Policy Alliance

Chris Alexander was confirmed as the executive director of the Office of Cannabis Management in New York. 

Alexander, a government relations and policy manager in the cannabis sector for the past year, spent 3 1/2 years as a policy coordinator at Drug Policy Alliance from 2015-2018 and was an associate counsel to the New York Senate from 2019-2020. A New York resident from Queens, he was involved in crafting MRTA to ensure it prioritized racial and economic justice.

As OCM executive director, Alexander will oversee certain powers in the industry, such as performing inspections of any premises where cannabis or hemp are manufactured, cultivated, processed, stored, distributed or sold; prescribing forms of applications for licenses, registrations and permits; coordinating across state agencies and departments; and the like.

“I worked over the last several years leading the effort, from a variety of perspectives, to end marijuana prohibition in the state and to bring about the new regulated market and diverse industry that we have jumpstarted today,” Alexander said at a Senate Finance Committee hearing Wednesday, before the full chamber approved him as the nominee.

“I have built and led the statewide campaign to end prohibition as the policy coordinator at the Drug Policy Alliance, where we assembled a coalition of advocates, educated communities across the state and pushed you all to consider what taxing and regulating cannabis could look like,” he said. “It was in that role that I began drafting what would become the Marijuana Regulation and Taxation Act and eventually the cannabis law.”

Also, in his work as a government relations and policy manager for Black-owned Village and sister-company Viola, Alexander said he’s seen first-hand the challenges experienced by entrepreneurs in the space, “particularly those of color,” who have limited access to capital and are asked to navigate a “jigsaw puzzle” of laws and regulations with little to no assistance.

Drug Policy Alliance

Tremaine Wright was confirmed as the chair for the Cannabis Control Board in New York. 

Meanwhile, Wright represented New York’s 56th District from 2017 through 2020. During that time, the Democrat from Brooklyn was the chair of the New York State Black, Puerto Rican, Hispanic and Asian Legislative Caucus. A University of Chicago Law School graduate, Wright was an associate with Paul Hastings and a staff attorney at Skadden, and she practiced as a public defender with Brooklyn Law Services.

Not to mention, Wright spent 14 years sitting on and chairing a local community planning board and 8 1/2 years as a coffee shop owner.

As CCB chairwoman, Wright will head a five-member board that has sole discretion to limit, or not to limit, the number of registrations, licenses and permits to be issued within the state in a manner that prioritizes social and economic equity applicants (with the goal of 50% awarded to such applicants), considers small business opportunities and concerns, avoids market dominance in sectors of the industry and reflects the demographics of the state. Among other functions, the board will also have discretion to issue, refuse to issue or revoke any registration, license or permit.

“This is one of those moments where we’re all coming together and we have an opportunity to create an entire industry from the bottom up, which will provide access as well as needs to people throughout this state and give them a way to participate in an industry which has the potential to be a tremendous economic engine here in our state,” Wright said during the Senate Finance Committee hearing Wednesday.

“In every single community throughout this state, cannabis has the potential to be a driver for communities to create opportunities, to create the outcomes and to shape the manner in which they want cannabis to play out in their community,” she said. “That’s what we need.”

In addition to her background as a state representative, lawyer and business owner, Wright is currently serving as New York’s first director of the Statewide Office of Financial Inclusion and Empowerment to help meet the financial services and needs of low- and middle-income New Yorkers.

Frederique said Wright and Alexander’s resumes speak from themselves.

“They both understand the deep harm that criminalization has caused to individuals and communities—especially communities of color—across the state,” Frederique said. “Their past work has reflected a commitment to working with people who have been directly impacted by prohibition and demonstrated a belief in evidence-based policies that center equity and justice.”

Democratic State Sen. Liz Krueger, the Finance Committee chair who sponsored MRTA, said in a statement she was extraordinarily pleased with the governor’s nominations.

“Their hard work, knowledge and dedication will ensure that the historic law we passed this year will be implemented the right way, with focus and equity that brings real benefits to the communities that have suffered the most under prohibition,” she said. “I am grateful to Gov. Hochul for demonstrating her seriousness of purpose and collaborative vision by moving swiftly to make such excellent nominations. The process of implementing MRTA has been delayed too long, but finally we are seeing some light at the end of the tunnel.”

Filed Under: Cannabis News

Wana Brands Launches Wana Optimals Fast Asleep

September 2, 2021 by CBD OIL

<![CDATA[

BOULDER, Colo. (Sept. 1, 2021) – PRESS RELEASE – As many as 70 million people in the United States wrestle with unsatisfactory sleep. But today, sleep sufferers across Colorado have a solution—Wana Optimals Fast Asleep gummies. Fast Asleep is the first product from Wana Brands’ new line of daily wellness products, Wana Optimals, that are steeped in science and crafted to help people achieve different health goals through the power of plants.

Leveraging proprietary encapsulation technology for quick onset in 5-15 minutes, the Wana Optimals Fast Asleep custom sleep formulation—powered by Wana’s ongoing research on minor cannabinoids and terpenes—is carefully crafted to address the root causes of sleeplessness, such as stress and physical discomfort, rather than simply inducing drowsiness, as with most sleep medicines. The majority of other products on the market are designed to knock a person out to sleep, while the Fast Asleep formulation is designed to get better sleep, faster.

Each fast-acting gummy contains 10mg CBD for calming and relaxing effects, and promoting REM sleep; 2mg CBN, which can lower stress, relieve tension, and alleviate physical discomfort; 2mg CBG for its relaxing and anti-inflammatory effects; 2mg THC, which works with the CBD to help regulate the body’s circadian rhythm; 1mg Melatonin, a sleep hormone to enhance the effects of these powerhouse cannabinoids; 30+ Specialized Terpenes, chosen via extensive user research for their sleep-promoting properties. 

“At Wana, we are fully committed to harnessing the power of the cannabis plant and delivering on the many promises it provides for different consumer experiences and benefits,” said Nancy Whiteman, CEO of Wana Brands. “To do this, we are looking well beyond the two most well-known cannabinoids THC and CBD, at the many other cannabinoids and terpenes produced by the plant that are known to have their own pharmacological effects. Wana Optimals Fast Asleep is our first offering meant to achieve specific results like better sleep. Why use a sledgehammer when you can use a scalpel?” 

Fast Asleep is the first product in the Wana Optimals’ line of daily wellness products that leverage the power of a variety of rare cannabinoids, including CBG and CBN, for their unique effects. As consumer education about and research into cannabinoids grows, demand for these potent and dynamic plant compounds will continue to spike. Wana is at the forefront of cannabinoid research and development, and its Optimals line stands as a leading-edge product. Wana Optimals Fast Asleep Gummies are vegan and organically sweetened. 

Fast and effective, Wana Optimals harness Thermodynamic Individual Molecular Encapsulation (TiME), a quick-onset technology from Azuca. While traditional edibles result in metabolism of the cannabinoids by the liver, Wana Optimals feature individually encapsulated cannabinoids with greater bioavailability that work at the molecular level to bypass the liver and enter the bloodstream immediately. This means onset in less than 15 mins for most and feeling sleepy faster. 

Fast Asleep gummies’ efficacy also depends in part on the suite of 30+ terpenes included in the Fast Asleep formula. Wana partnered with Abstrax and Effects Lab by Budboard to harness consumer data and AI algorithms to find correlations between strains — and their terpene profiles — that were noted by users to help with sleep. These terpene blends were replicated in the formulations used in the Fast Asleep product.

]]>

Filed Under: Cannabis News

First Set of Adult-Use Cannabis Rules Approved in New Jersey

September 1, 2021 by CBD OIL

Pacific Northwest heat waves have been challenging growers—and their plants—since June. What do these extreme heat waves mean for hemp crop harvest this fall?

Gordon Jones is an assistant professor of general agriculture based at the Southern Oregon Research and Extension Center for Oregon State University.  Jones says well established hemp plants, transplanted in good conditions with proper root growth, can withstand a fair amount of heat stress—as long as they have access to water. 

But with extreme heat come other obstacles like reduced access to water, wildfire smoke and declining worker morale.

“On some grand level, the smoke, the heat, and the drought are connected, and we could probably have a climate change discussion at the macro scale,” says Jones. These challenges make growing hemp in extreme heat a game of survival. However, there are steps farmers can take early on to prevent heat stress and still have a successful harvest.

What is an ‘Extreme Heat Wave’?

The World Meteorological Organization states that a heat wave is when the daily maximum temperature exceeds the average maximum temperature by 9 degrees Fahrenheit for more than five consecutive days. From June 24 to June 29, Pacific Northwesterners experienced a 1-in-1,000-year heat event when temperatures peaked at 116 degrees.

In extreme heat conditions, hemp leaves droop and fold up in a protective measure. If the stress is not mediated, they will yellow and become crisp. Once a plant is matured, there’s not a lot of changes growers can make, warns Cedar Grey, founder of Siskiyou Sungrown, a CBD wellness product brand in Southern Oregon.

For hemp farmers, high temperatures aren’t the only threat to crops and farmers during extreme heat events. “When it gets to that point, your plant is in trouble,” he says. “By the time the plant is mature, I don’t think there’s a lot of wholesale changes you can make other than ensuring that your irrigation is on point.”

For some hemp farmers, irrigation is exactly the problem amidst high temperatures and other heat-related challenges.

Challenges for Growing Hemp in Extreme Heat

Heat isn’t the only problem. Water shortages, reduced or adjusted labor hours and questions around the impacts of smoke from nearby wildfires have some farmers wondering if they will reach harvest with a successful yield.

Hemp Plants Are Thirsty: Water Shortage and Restrictions

Kristina Blohkin/Adobe Stock

 

The Talent Irrigation District, Rogue River Valley Irrigation District and Medford Irrigation District are part of the U.S. Bureau of Reclamation Rogue Basin Project, where Jones focuses most of his work. These districts supply water to thousands in Oregon, and Jones says water levels have never been so low. “The irrigation season usually runs from April 15 through Oct. 15 in the ideal year,” says Jones. “This year, water from those irrigation districts was shut off at the end of July and the beginning of August.”

Ideally, hemp plants go into the ground in June in Jones’ region. Harvest normally begins in September and will run through October. To have the water shut off in July, says Jones, growers will not have an adequate water supply to grow a good yielding crop of hemp, especially those that planted towards the end of the season. Where he used to see large bushy plants, this year Jones sees smaller hemp crop. “I certainly think that that water limitation and some heat stress in June … would limit the size of the size of those plants.”

Impacts of Smoke are Not as Bad as Some Assume

Siskiyou Sungrown is one of the lucky ones, with rights to a deep well that’s kept their crop watered all season long. Grey says sunny and dry weather during harvest is a good thing for the drying process. However, extreme heat and dry conditions are ripe for wildfire—and smoke. Growers and consumers alike are wondering how much impact smoke has on hemp plants.

It is known that wildfire smoke can affect the aroma and flavor of wine grapes. Near Siskiyou, grape growers have had problems with wildfires altering the quality of grapes. However, preliminary research and consumer quality reviews, have not reported any change in aroma or flavor of cannabis grown with surrounding smoke.

“Usually it’s a story of someone looking at the front page of a newspaper on the East Coast, calling and asking, ‘Are you going to send me smoky hemp?'” says Jones. “Or somebody from a competing region saying. ‘Buy my hemp because we’ve not been affected by wildfires smoke.’ The reality is that no research or customer feedback suggests smoke is affecting the quality of hemp flower.”

Smoke can block sunlight. Less light overall can impact how a plant photosynthesizes and may result in smaller plants. In addition to heat and moisture stress, prolonged exposure reduction of sunlight due to smoke can contribute to smaller plants, Jones says.

Some consumers have wondered what impact ash fall has on hemp products. But it’s not a concern, says Jones. It can be easily blown off and won’t clog pores long-term. Not only is ash not a major issue, but every gram of ash that falls on the ground contains nutrients like calcium and potassium. The movement of nutrients across regional ecosystems can be considered a small amount of fertilization. 

Changes to Workforce

It’s not just the plants that are getting stressed out with heat and smoke. Farmworkers have adjusted their schedules and lives around the heat. Grey says some days they started at 3  a.m. to beat the heat. In response, OSHA issued emergency rules to protect workers. Beyond physical exhaustion, Grey says, his team is mentally tired of heat and smoke. “Far and away the greatest impact of the smoke is on the health and morale of the farm team,’ says Grey. “It definitely affects our routine. When we get weeks of hazardous smoke levels, everyone’s morale plummets.”

How Growers Can Protect Their Plants in Extreme Heat

Growing hemp is a continual learning process, but there are proven ways to give plants the best shot at survival for a successful harvest. Farmers’ best bet? Get plants well-established early on.

Establish Plants Early in Good Conditions

A well established plant has a great chance of holding up against extreme heat, smoke and even temporary water shortages. “When they are well established, been in the ground, and have grown good roots, they’ll be resilient,” says Jones. “That’s what we saw for those who planted in early June, a couple weeks before the heat wave. When they had gotten through transplant shock, they did fine.”

At Siskiyou Sungrown, Grey focuses on living soil and uses organic amendments and regular soil testing to foster healthy soil. “We compost all of our on-site organic matter, all of our organic waste. The roots, the stems, the leaves, we compost all of that and put that back into the soil, too, so we’re adding lots of organic matter to the soil every year.” Grey also rotates planting rows every two years and takes a dozen or more samples across fields multiple times a season to amend appropriately.

 

Isaac/Adobe Stock

 

Keep Hemp Plants Cool

If hemp plants can keep water flowing from roots to leaves, and then evaporate it into the atmosphere, much like our own sweat process, they can keep themselves cool. Jones reiterates it all comes down to the water. “There were folks who transplanted just a few days before that heat wave came,” says Jones. “And some of those fields look really poor.”

Grey also suggests planting in native soil and using a cover crop to keep plants cool. Native soil stays cooler than raised beds and pots. Grey uses a thick layer of mulch, particularly rice straw, which breaks down quickly because of its aquatic nature. This helps keeps the roots cool and moist. Other cover crops farmers can use include clover, buckwheat or oats.

Consider Backup Water Sources

If growers are in an area with water shortages, there is not a lot that can be done.

In water emergencies, there may be possibilities for farmers to gain access to other agricultural water sources like wells or ponds. “Gaining access to new agricultural water is a reasonably challenging process,” Jones says. “They are probably some rare justifications where new wells can be drilled. In some cases, people can get permission to dig a pond on their property to hold water which is something that’s handled by our watermaster’s office.”

In some cases, farmers are choosing to water only the best sections of the crop. Jones watched a farmer sacrifice smaller, weaker plants to reserve the limited water supply he had, for his more-promising crop. “He went ahead and made the decision to cull out those weaker plants … to be able to allocate all of his water to his best-looking plants, rather than trying to keep a poor-looking section of the field limping along,” says Jones. Other farmers have tried bringing water from other sources in by truckloads, but this is a tedious and likely inefficient process for large operations.

A long-term solution would involve changing irrigation infrastructures, but leaky canals and aging irrigation systems are as much a social and political conversation as it is an agricultural one. The cost of infrastructure changes would be hundreds of millions of dollars, says Jones, and a solution that growers can think about and participate in, but not likely to happen in the next few years.

Plant Varieties with Shorter Seasons Can Help Farmers Beat the Heat

Oregon gets most of its water in the fall and winter months. Jones remembers that this year, the reservoirs were not filling properly in February and March. Paying attention to those details can help growers plan, particularly with what hemp variety they choose to plant.

Most hemp growers use a daylight-sensitive variety. It gets planted in Spring, grows vegetatively until it is cued (by daylength) to flower in late summer or fall, and is harvested in September or October. That is a long season and requires water the entire time. Jones points out, however, there are hemp varieties that are daylength neutral, or autoflowering. These plants don’t need a daylength cue. Plants go in the ground and in 50-75 days, plants grow to maturity. “There were a few growers who were able to plant their [autoflowering] crop in late May to early June and were able to harvest them by the end of July just as the water was shut off,” says Jones. The caveat is that these varieties yield smaller plants, though it is still an option for growers who are anticipating a dry season.

Researchers are still exploring which varieties can grow in shorter seasons. They hope in the future they can help growers make informed seed choices in the spring.

What Does Heat Mean for Harvest?

When it comes to heat at harvest time, Grey says heat alone is not that big of an issue. If anything, air conditioning units can be brought in if indoor drying facilities get too hot. The tough part is keeping plants watered in a hot summer. If you can get your plants to survive to harvest time during extreme heat conditions, all else equal, harvest should be smooth sailing.

The Moral of the Story: Hemp is Resilient

Growers and researchers alike are working to learn about the hemp plant while they grow it and respond simultaneously to extreme conditions. “We have a very short history of this sort of field-scale hemp growing that people are doing on tens of acres. It really is a brand-new thing for the high cannabinoid, high-CBD, CBG hemp varieties that have been around just for a handful of years,” says Jones. “People are figuring out for the first time what to do when the water gets shut off in the middle of the summer.”

If farmers can get their plants well established early on and water thoroughly (while it’s available), extreme heat conditions won’t wipe out this resilient crop. Grey became concerned when they had a two-week stretch of heat that was stagnant between 95 degrees and 112 degrees, even though their plants were well established. “I was very concerned about how the plants were going to handle [the heat]. I thought we might have seen a bunch of heat stress out there. Honestly, we didn’t,” says Grey. “I’m realizing that if the plant is healthy and if conditions are right, it can obviously survive at least 112 degrees with no issues.  It’s really changed my view of the plant.”

 

Filed Under: Cannabis News

Proposed Cannabis Regulations in Michigan Would Create New License Types, Reduce Licensing Fees

September 1, 2021 by CBD OIL

Pacific Northwest heat waves have been challenging growers—and their plants—since June. What do these extreme heat waves mean for hemp crop harvest this fall?

Gordon Jones is an assistant professor of general agriculture based at the Southern Oregon Research and Extension Center for Oregon State University.  Jones says well established hemp plants, transplanted in good conditions with proper root growth, can withstand a fair amount of heat stress—as long as they have access to water. 

But with extreme heat come other obstacles like reduced access to water, wildfire smoke and declining worker morale.

“On some grand level, the smoke, the heat, and the drought are connected, and we could probably have a climate change discussion at the macro scale,” says Jones. These challenges make growing hemp in extreme heat a game of survival. However, there are steps farmers can take early on to prevent heat stress and still have a successful harvest.

What is an ‘Extreme Heat Wave’?

The World Meteorological Organization states that a heat wave is when the daily maximum temperature exceeds the average maximum temperature by 9 degrees Fahrenheit for more than five consecutive days. From June 24 to June 29, Pacific Northwesterners experienced a 1-in-1,000-year heat event when temperatures peaked at 116 degrees.

In extreme heat conditions, hemp leaves droop and fold up in a protective measure. If the stress is not mediated, they will yellow and become crisp. Once a plant is matured, there’s not a lot of changes growers can make, warns Cedar Grey, founder of Siskiyou Sungrown, a CBD wellness product brand in Southern Oregon.

For hemp farmers, high temperatures aren’t the only threat to crops and farmers during extreme heat events. “When it gets to that point, your plant is in trouble,” he says. “By the time the plant is mature, I don’t think there’s a lot of wholesale changes you can make other than ensuring that your irrigation is on point.”

For some hemp farmers, irrigation is exactly the problem amidst high temperatures and other heat-related challenges.

Challenges for Growing Hemp in Extreme Heat

Heat isn’t the only problem. Water shortages, reduced or adjusted labor hours and questions around the impacts of smoke from nearby wildfires have some farmers wondering if they will reach harvest with a successful yield.

Hemp Plants Are Thirsty: Water Shortage and Restrictions

Kristina Blohkin/Adobe Stock

 

The Talent Irrigation District, Rogue River Valley Irrigation District and Medford Irrigation District are part of the U.S. Bureau of Reclamation Rogue Basin Project, where Jones focuses most of his work. These districts supply water to thousands in Oregon, and Jones says water levels have never been so low. “The irrigation season usually runs from April 15 through Oct. 15 in the ideal year,” says Jones. “This year, water from those irrigation districts was shut off at the end of July and the beginning of August.”

Ideally, hemp plants go into the ground in June in Jones’ region. Harvest normally begins in September and will run through October. To have the water shut off in July, says Jones, growers will not have an adequate water supply to grow a good yielding crop of hemp, especially those that planted towards the end of the season. Where he used to see large bushy plants, this year Jones sees smaller hemp crop. “I certainly think that that water limitation and some heat stress in June … would limit the size of the size of those plants.”

Impacts of Smoke are Not as Bad as Some Assume

Siskiyou Sungrown is one of the lucky ones, with rights to a deep well that’s kept their crop watered all season long. Grey says sunny and dry weather during harvest is a good thing for the drying process. However, extreme heat and dry conditions are ripe for wildfire—and smoke. Growers and consumers alike are wondering how much impact smoke has on hemp plants.

It is known that wildfire smoke can affect the aroma and flavor of wine grapes. Near Siskiyou, grape growers have had problems with wildfires altering the quality of grapes. However, preliminary research and consumer quality reviews, have not reported any change in aroma or flavor of cannabis grown with surrounding smoke.

“Usually it’s a story of someone looking at the front page of a newspaper on the East Coast, calling and asking, ‘Are you going to send me smoky hemp?'” says Jones. “Or somebody from a competing region saying. ‘Buy my hemp because we’ve not been affected by wildfires smoke.’ The reality is that no research or customer feedback suggests smoke is affecting the quality of hemp flower.”

Smoke can block sunlight. Less light overall can impact how a plant photosynthesizes and may result in smaller plants. In addition to heat and moisture stress, prolonged exposure reduction of sunlight due to smoke can contribute to smaller plants, Jones says.

Some consumers have wondered what impact ash fall has on hemp products. But it’s not a concern, says Jones. It can be easily blown off and won’t clog pores long-term. Not only is ash not a major issue, but every gram of ash that falls on the ground contains nutrients like calcium and potassium. The movement of nutrients across regional ecosystems can be considered a small amount of fertilization. 

Changes to Workforce

It’s not just the plants that are getting stressed out with heat and smoke. Farmworkers have adjusted their schedules and lives around the heat. Grey says some days they started at 3  a.m. to beat the heat. In response, OSHA issued emergency rules to protect workers. Beyond physical exhaustion, Grey says, his team is mentally tired of heat and smoke. “Far and away the greatest impact of the smoke is on the health and morale of the farm team,’ says Grey. “It definitely affects our routine. When we get weeks of hazardous smoke levels, everyone’s morale plummets.”

How Growers Can Protect Their Plants in Extreme Heat

Growing hemp is a continual learning process, but there are proven ways to give plants the best shot at survival for a successful harvest. Farmers’ best bet? Get plants well-established early on.

Establish Plants Early in Good Conditions

A well established plant has a great chance of holding up against extreme heat, smoke and even temporary water shortages. “When they are well established, been in the ground, and have grown good roots, they’ll be resilient,” says Jones. “That’s what we saw for those who planted in early June, a couple weeks before the heat wave. When they had gotten through transplant shock, they did fine.”

At Siskiyou Sungrown, Grey focuses on living soil and uses organic amendments and regular soil testing to foster healthy soil. “We compost all of our on-site organic matter, all of our organic waste. The roots, the stems, the leaves, we compost all of that and put that back into the soil, too, so we’re adding lots of organic matter to the soil every year.” Grey also rotates planting rows every two years and takes a dozen or more samples across fields multiple times a season to amend appropriately.

 

Isaac/Adobe Stock

 

Keep Hemp Plants Cool

If hemp plants can keep water flowing from roots to leaves, and then evaporate it into the atmosphere, much like our own sweat process, they can keep themselves cool. Jones reiterates it all comes down to the water. “There were folks who transplanted just a few days before that heat wave came,” says Jones. “And some of those fields look really poor.”

Grey also suggests planting in native soil and using a cover crop to keep plants cool. Native soil stays cooler than raised beds and pots. Grey uses a thick layer of mulch, particularly rice straw, which breaks down quickly because of its aquatic nature. This helps keeps the roots cool and moist. Other cover crops farmers can use include clover, buckwheat or oats.

Consider Backup Water Sources

If growers are in an area with water shortages, there is not a lot that can be done.

In water emergencies, there may be possibilities for farmers to gain access to other agricultural water sources like wells or ponds. “Gaining access to new agricultural water is a reasonably challenging process,” Jones says. “They are probably some rare justifications where new wells can be drilled. In some cases, people can get permission to dig a pond on their property to hold water which is something that’s handled by our watermaster’s office.”

In some cases, farmers are choosing to water only the best sections of the crop. Jones watched a farmer sacrifice smaller, weaker plants to reserve the limited water supply he had, for his more-promising crop. “He went ahead and made the decision to cull out those weaker plants … to be able to allocate all of his water to his best-looking plants, rather than trying to keep a poor-looking section of the field limping along,” says Jones. Other farmers have tried bringing water from other sources in by truckloads, but this is a tedious and likely inefficient process for large operations.

A long-term solution would involve changing irrigation infrastructures, but leaky canals and aging irrigation systems are as much a social and political conversation as it is an agricultural one. The cost of infrastructure changes would be hundreds of millions of dollars, says Jones, and a solution that growers can think about and participate in, but not likely to happen in the next few years.

Plant Varieties with Shorter Seasons Can Help Farmers Beat the Heat

Oregon gets most of its water in the fall and winter months. Jones remembers that this year, the reservoirs were not filling properly in February and March. Paying attention to those details can help growers plan, particularly with what hemp variety they choose to plant.

Most hemp growers use a daylight-sensitive variety. It gets planted in Spring, grows vegetatively until it is cued (by daylength) to flower in late summer or fall, and is harvested in September or October. That is a long season and requires water the entire time. Jones points out, however, there are hemp varieties that are daylength neutral, or autoflowering. These plants don’t need a daylength cue. Plants go in the ground and in 50-75 days, plants grow to maturity. “There were a few growers who were able to plant their [autoflowering] crop in late May to early June and were able to harvest them by the end of July just as the water was shut off,” says Jones. The caveat is that these varieties yield smaller plants, though it is still an option for growers who are anticipating a dry season.

Researchers are still exploring which varieties can grow in shorter seasons. They hope in the future they can help growers make informed seed choices in the spring.

What Does Heat Mean for Harvest?

When it comes to heat at harvest time, Grey says heat alone is not that big of an issue. If anything, air conditioning units can be brought in if indoor drying facilities get too hot. The tough part is keeping plants watered in a hot summer. If you can get your plants to survive to harvest time during extreme heat conditions, all else equal, harvest should be smooth sailing.

The Moral of the Story: Hemp is Resilient

Growers and researchers alike are working to learn about the hemp plant while they grow it and respond simultaneously to extreme conditions. “We have a very short history of this sort of field-scale hemp growing that people are doing on tens of acres. It really is a brand-new thing for the high cannabinoid, high-CBD, CBG hemp varieties that have been around just for a handful of years,” says Jones. “People are figuring out for the first time what to do when the water gets shut off in the middle of the summer.”

If farmers can get their plants well established early on and water thoroughly (while it’s available), extreme heat conditions won’t wipe out this resilient crop. Grey became concerned when they had a two-week stretch of heat that was stagnant between 95 degrees and 112 degrees, even though their plants were well established. “I was very concerned about how the plants were going to handle [the heat]. I thought we might have seen a bunch of heat stress out there. Honestly, we didn’t,” says Grey. “I’m realizing that if the plant is healthy and if conditions are right, it can obviously survive at least 112 degrees with no issues.  It’s really changed my view of the plant.”

 

Filed Under: Cannabis News

6 Trends Influencing the Cannabidiol (CBD) Market Forecast Through 2027

September 1, 2021 by CBD OIL

The rise in the number of optimistic regulatory frameworks instigated by various regional governments will positively anchor the forecast for the cannabidiol (CBD) market. The growing awareness regarding the benefits and effects of the product as an alternative treatment method has accelerated its preference among consumers and suppliers. Moreover, the continued advancements in the approval processes by various authorities worldwide have also made way for numerous opportunities supporting CBD market growth.

According to a report by Global Market Insights, Inc, the global CBD market size could exceed $108.8 billion by 2027.

Growing presence in cosmetics

The overall industry share from creams and roll-on products is poised to hit a 35.8% CAGR up to 2027. This is owing to the increasing scope of CBD in cosmetic applications as it is highly effective in treating skin conditions. This, as well as its anti-inflammatory characteristics from a medicinal perspective, are leading to increased demand for CBD products like creams and roll-ons.

Scope in the treatment of mental health

Some of the many infused products on the market today.

CBD market value from anxiety/stress applications exceeded USD 1.5 billion in 2020 due to the growing need for helping mental health. The World Health Organization reported that over 4.5% of the total population in Europe suffers from depression. This escalating anxiety and stress rate has encouraged healthcare practitioners to increasingly make use of CBD-based medications.

Higher demand for oral administration

Demand for oral cannabidiol administration held nearly 45% of the industry proportion in 2020 due to its growing preference considering the gradual relief of pain compared to other disorders. The increasing dependency on the oral administration route for product development by several manufacturers will add positive impetus to market growth.

Medical benefits of cannabis

Annual revenue of the CBD market from the segment of the market dealing with THC (and CBD) products is expected to cross USD 30.1 billion by 2027. This is largely due to its increasing penetration across various countries and regions on account of its legal status. Furthermore, the relatively higher THC content of the compound has led to its growing usage to combat medical conditions, including Alzheimer’s and Parkinson’s disease, among others.

Online distribution to see a considerable footprint

Ads for CBD products online regularly perform very well

The online CBD industry was responsible for more than 46% of the market in 2020. This is mainly due to the numerous advantages of online channels, like on-time delivery and adequate inventory, compared to their offline counterparts. Besides, this distribution platform minimizes the operational costs related to the maintenance of brick and mortar retail.

Australia to lead the regional landscape

Australia dominated the Asia Pacific CBD market by holding over 25% of the market share owing to the expanding geriatric population and the liberal stance of the regulating bodies in the region. The permittance to the medicinal and cosmetic use of CBD products is likely to spur regional adoption. The rising amendments in regulatory scenarios have also triggered awareness regarding the potential benefits of the product in the country. For instance, in April 2020, the Australian government released a new proposal for over-the-counter CBD in a bid to relax its narcotic scheduling whilst making it a Schedule 3 substance.

Providers of various CBD products are actively indulging in numerous growth strategies, like acquisitions and partnerships, to reinforce their market presence. For example, Mota Ventures Corp., in January 2020, acquired Spanish producer and online retailer, Sativida OU in a USD 2.2 million deal. The acquisition expanded the company’s presence in Europe and Latin America.

Although the demand for CBD is likely to experience certain hesitation from consumers in the short term, the market will witness lucrative growth in the long run. However, counterfeit and substandard quality products may potentially restrain industry expansion to some extent.

Filed Under: Cannabis News

  • « Go to Previous Page
  • Go to page 1
  • Go to page 2
  • Go to page 3
  • Go to page 4
  • Go to page 5
  • Go to page 6
  • Interim pages omitted …
  • Go to page 116
  • Go to Next Page »

Footer

  • Home
  • Privacy Policy
  • Terms of Service