Lucrative High-Quality CBD Market Beckons Suppliers With Best Extraction Methods
With each new market cannabidiol (CBD) expands into, an ever greater need for regulatory safeguards come into play to ensure safety and consistency of the quality of products in the market. This draws attention to the innovative extraction and production methods being developed and employed by CBD companies such as StillCanna Inc. (CSE:STIL) (OTC:SCNNF), Radient Technologies Inc. (TSX.V:RTI) (OTC:RDDTF), Valens GroWorks Corp. (CSE:VGW) (OTC:VGWCF), Neptune Wellness Solutions (NASDAQ:NEPT) (TSX:NEPT) and MediPharm Labs Corp. (OTC:MEDIF) (TSX.V:LABS).
1021916 B.C. Ltd Announces Management Changes
Vancouver, British Columbia--(Newsfile Corp. - June 4, 2019) - (the "") is pleased to announce Robert van Santen, Chris L. MacPherson and Leslie van Santen as the Company's new directors, and their appointments as Chief Executive Officer, Chief Financial Officer and Corporate Secretary respectively. These appointments replace the entire existing board of directors and officers effective immediately.
Numerous CBD and Cannabis Applications Position the Market for Worldwide Growth
As the cannabis market continues to expand around the globe, research has confirmed that cannabidiol products are growing in popularity as well. Cowen & Co. analysts noted that nearly 7% of Americans are already using CBD-based product, clarifying that most consumers are using CBD as a supplement. Primarily, legal CBD is derived from the hemp plant, which falls under the cannabis family, while marijuana-derived CBD must comply with seed-to-sale state laws, which makes it illegal to transport products across state lines. However, hemp-derived CBD products are perfectly legal throughout almost every U.S. state as CBD is generally more accepted when compared to THC as it does not provide consumers with psychoactive effects. Despite the biological difference between THC and CBD, the two compounds are linked to providing similar therapeutic benefits. Clinical trials and research have suggested that CBD can suppress consumers' illnesses or symptoms associated with cancer, anxiety, chronic pain, and depression. Moreover, clinical trials have led to the U.S. Food and Drug Administration's approval of Epidiolex to treat two forms of childhood epilepsy. As a result, Cowen projects that CBD users will grow to 10% of U.S. adults or 25 million consumers by 2025. Consumers in the U.S. can easily find CBD products at their local stores and even pharmacies now. The growth of the CBD marketplace also compliments the THC marketplace, fueling recreational cannabis sales as well. The U.S. dominates the cannabis market as it accounts for the majority of the global share due to its early adoption. Furthermore, in combination with Canada's recent legalization, the North American region is already positioned to witness exponential growth. According to data compiled by IMARC Group, the North American legal cannabis market was valued at USD 8 Billion in 2017. By 2023, the market is projected to reach USD 35 Billion while registering a CAGR of 28% from 2018 to 2023. AREV Brands International Ltd. (OTC: AREVF) (CSE: AREV), Valens Groworks Corp. (OTC: VGWCF) (CSE: VGW), The Supreme Cannabis Co Inc. (OTC: SPRWF) (TSX: FIRE), Liberty Health Sciences Inc (OTC: LHSIF) (CSE: LHS), Choom Holdings Inc. (OTC: CHOOF) (CSE: CHOO)