Palm Beach, FL – September 22, 2021 – FinancialNewsMedia.com News Commentary – CBD infused products have weaved their way into almost every corner of our daily lives. CBD infused products are categorized with respect to the source (hemp and marijuana), type (CBD-edibles, confectionery products, bakery products, beverages, non-alcoholic beverages and alcoholic beverages, coffee & tea products, CBD-oil and extracts, CBD-personal care products, skincare products, haircare products, deodorants and perfumes, and other personal care products, CBD-smoke & vape products, CBD-supplements, CBD-pet products, and other CBD-products that seem to emerge almost every day. The growth of this market is mainly attributed to the rising demand and increasing legalization of cannabis, growing application of cannabis in cancer, and health benefits offered by cannabis-infused products are also a few of the key factors driving the growth of the CBD-infused products market. A report from ResearchAndMarkets said that the CBD-infused Products Market is expected to reach $216.8 billion by 2028, at a CAGR of 45.6% during the forecast period, 2021-2028. The report said: “Based on source, the CBD-infused products market is mainly segmented into hemp and marijuana. The hemp segment is estimated to account for the largest share of the CBD-infused products market in 2021. The large share of this segment is mainly attributed to its lower THC concentrations, which decrease or eliminate its psychoactive effects and increase hemp-derived products for various medical applications. Also, its anti-inflammatory, anti-aging, antioxidant properties, and high effectiveness of CBD extracted from hemp is a key factor for the large share of this segment. However, it is also expected to witness significant growth, as some governments regulate the concentration of THC and permit only hemp with an especially low THC content.” Active companies in news today include: Pure Extracts Technologies Corp. (OTCPK: PRXTF) (CSE: PULL), Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI), Canopy Growth Corporation (NASDAQ: CGC) (TSX: WEED), Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB), HEXO Corp (NASDAQ: HEXO) (TSX: HEXO).
ResearchAndMarkets concluded: “Based on type, the CBD-infused products market is segmented into CBD-edibles, CBD-oil and extracts, CBD-personal care products, CBD-smoke & vape products, CBD-supplements, CBD-pet products, and other CBD-products. The CBD-edibles segment is estimated to account for the largest share of the CBD-infused products market in 2021. The large share of this segment is mainly attributed to the growing popularity of recreational cannabis, increasing demand for food infused by cannabis such as THC and CBD, rising adoption of CBD in different verticals such as confectionery, bakery, etc., and cannabis consumer are looking for alternatives to smoking cannabis. Also, the increasing use of CBD-edibles to treat psychiatric disorders, neurological disorders, and cancer, along with pain control, is expected to drive the demand for CBD-edibles. However, it is also expected to grow at the highest CAGR during the forecast period.”
Pure Extracts Technologies Corp. (OTC: PRXTF) (CSE: PULL) (PULL.CNX) BREAKING NEWS – Pure Extracts Commencing Build-Out of Extraction Facility in Michigan – Pure Extracts Technologies Corp. (“Pure Extracts” or the “Company”) a plant-based extraction company focused on cannabis, hemp, functional mushrooms and the rapidly emerging psychedelic sector, is pleased to announce that its wholly owned subsidiary, Pure Extracts USA Inc., is fast-tracking the build-out of the extraction facility it is designing with its Joint Venture (JV) partner, Golden Harvests, LLC, at their existing 80,000 sq. ft. site in Bay City, Michigan.
“The Michigan cannabis market is large and growing quickly, with sales reaching a record $171 million in July of this year, up 56% from a year ago,” said Ben Nikolaevsky, CEO of Pure Extracts. Adding that, “We plan to attack this market aggressively with a goal of reaching a run rate of $20 million in annual sales by the end of 2022.”
After a successful in-person meeting at the site between the senior executives of both companies, and a detailed study of the Michigan market, it was obvious to both parties that this is a significant opportunity without any dominant brands to compete against. When coupled with Golden Harvest’s existing brand recognition and distribution to over 100 of the 400+ dispensaries in the State, adding concentrates to the product mix is a natural next step.
In addition to Pure Extracts’ award-winning full spectrum oil (FSO) Pure Pulls vapes and tinctures and its THC and ultra-high potency CBD Pure Chews edibles, the JV will be adding live resin concentrates and cartridges to its portfolio of branded products.
The JV plans to commence the build-out of 5,900 square feet of existing space in the 80,000 sq. ft. facility once building permits have been issued by Bay City, which should occur in October. The JV also plans to produce Golden Harvests branded concentrates, cartridges, edibles and tinctures. The JV will also consider building dedicated greenhouse production to provide cheaper processing input for house brands and available white label opportunities. CONTINUED… Read this full release and more news for Pure Extracts by visiting: https://www.financialnewsmedia.com/news-pull/
In other industry news of note:
STORZ & BICKEL GmbH (“STORZ & BICKEL”), a subsidiary of world-leading diversified cannabis, hemp, and vaporization company Canopy Growth Corporation (TSX: WEED) (NASDAQ: CGC) recently announced the release of three new vaporizer updates: the limited edition VOLCANO ONYX, the enhanced CRAFTY+, and the first-ever MIGHTY+. Engineered with cutting-edge technology, these enhancements to STORZ & BICKEL’s iconic portfolio demonstrate the brand’s continued leadership in the high-potential vaporizer industry.
“STORZ & BICKEL has spent the past 20 years developing the world’s most prestigious vaporizer models, consistently defining and refining the gold standard of consumer safety and best-in-class performance,” said Jürgen Bickel, Founder and Managing Director, STORZ & BICKEL.
Aurora Germany GmbH, a subsidiary of Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB), the Canadian company defining the future of cannabinoids worldwide, and Ethypharm, have recently successfully delivered their initial shipment of cannabis to the French medical cannabis pilot program, set to begin serving patients in the coming weeks. Aurora and Ethypharm were selected by the National Agency for the Safety of Medicines and Health Products (ANSM) to supply the entire medical cannabis dried flower range (three lots of the tender) to French patients during the pilot program.
“The first prescriptions of dried medical cannabis as part of the French pilot program are a significant step toward providing access to patients and will support the destigmatization of medical cannabis in France,” says Miguel Martin, Chief Executive Officer of Aurora Cannabis. “This accomplishment is another example of Aurora’s leadership in global cannabis, with a proven track record of supporting the advancement of international medical cannabis markets alongside government bodies. By demonstrating a deep commitment to compliance and focus on product quality, we won three of the nine available tenders. If successful, this pilot program could lead to one of the largest regulated medical cannabis markets in Europe.”
HEXO Corp (NASDAQ: HEXO) (TSX: HEXO) recently announced completion of the previously announced acquisition of all of the outstanding shares of the entities that carry on the business of Redecan, Canada’s largest privately-owned licensed producer (the “Transaction”). At closing, HEXO paid the selling shareholders of Redecan $400 million in cash (subject to certain customary closing adjustments) and delivered 69.7 million newly issued common shares of HEXO (the “Consideration Shares”).
“This is an exciting day for HEXO and Redecan employees, investors, consumers and stakeholders,” said HEXO CEO and co-founder Sebastien St-Louis. “The completion of this transaction is aligned with our corporate growth strategy and will further strengthen our position as a leader in the Canadian cannabis industry, bolstering the combined company as we look towards becoming a top three global cannabis products company and continue on the path towards positive EPS.”
Organigram Holdings Inc. (TSX: OGI) (NASDAQ: OGI), the parent company of Organigram Inc., a leading Canadian producer of cannabis, recently announced the launch of SHRED’ems, a high-quality and bold flavoured lineup of cannabis-infused gummies. SHRED’ems is an extension of the Company’s highly popular, value-priced SHRED product portfolio which includes SHRED milled flower and SHRED Jar of Joints. Since launch in early August, SHRED’ems has already demonstrated great momentum, capturing the leading market share position of the edibles category in Prince Edward Island (PEI) within 2 weeks of launch and the fourth position in New Brunswick.
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