According to an article published on RollingStone.com, for years experts have predicted that if the cannabis industry expands at its current rate, the American market will reach $20 billion by 2020. But it turns out that one market is spinning off into a mega-industry of its own: according to a new estimate from cannabis industry analysts the Brightfield Group, the hemp-CBD market alone could hit $22 billion by 2022. And of the CBD industry, the pet-care industry is thought to be one of the fastest growing markets as consumers show an increased desire to spend more on their furry friends, even if it means paying a premium. According to the American Pet Products Association, Americans spent nearly $70 billion on their pets in 2017, marking an all-time high water mark for the industry. One of the largest facets of the market is health care, and this is where leaders in the CBD industry are aiming to capitalize on. Alternative medicines and treatments have been quickly gaining popularity among consumers. This has also been true when it comes to pet owners and how they treat their animals, with holistic and natural remedies quickly rising in demand. Leaders in the CBD industry are leveraging product development and research to translate this demand into new and lucrative revenue streams. Active Companies from around the market with current developments this week include: Pyramidion Technology Group, Inc. (OTC: PYTG), Canopy Growth Corporation (NYSE:CGC) (TSX:WEED), Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB), Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON), Pyxus International Inc. (NYSE: PYX).
Pyramidion Technology Group, Inc. (OTCPK:PYTG) BREAKING NEWS: Pyramidion Technology Group's, LeafyWell (http://www.LeafyWell.com) that produces a broad selection of Cannabidiol ("CBD") containing products such as tinctures, oils, creams and lotions, and edible gummy candies has announced today that they will expand its product lines to include specifically formulated sprays and treats designed for pets to address anxiety, nervousness, arthritis and inflammation, and ailments in digestion, among others.
Research investigating the effects of CBD have produced positive findings thereby supporting its use in the treatment of a variety of conditions and ailments such as rheumatoid arthritis, diabetes, post-traumatic stress disorder, epilepsy, antibiotic-resistant infections, neurological disorders, and muscular dystrophy in humans. LeafyWell http://www.LeafyWell.com is now branching out with pet specific formulations designed for a variety of health concerns in animals with delivery methods intended to be suitable for domesticated pets including both treats and sprays. Currently, dog and cat treats are offered in the following flavors: Bacon, Steak, Jerky, Pigs in a Blanket, Bones and Meatballs. The current collection line of pet designed sprays have no added flavor and are designed to be added to either food or water, or given orally directly to pets.
According to some reported statistics, the pet treat industry is a billion-dollar industry placing pet treat sales upwards of $5 billion dollars in the US alone in 2018 while pet food sales exceed $25 billion dollars. Moreover, it has also been reported that around 24% of owners seek out treats designed to address specific health issues. The LeafyWell http://www.LeafyWell.com pet collection is currently available via e-commerce and perhaps in the future we will see the entire product line on display shelves in retail brick and mortar pet stores and directly purchasable online via pet store websites.
"We are excited to announce our newest product line offerings to include formulations and delivery methods designed specifically for dogs and cats. Our intention is to offer a staple in home pet products for consumers available for purchase in a variety of methods and in a variety of flavors and delivery methods. The pet industry appears to be ready for our products and we anticipate great things to come for our clients and our investors from our pet product line launch. We also feel that the timing of our launch is right on schedule with our company's goals as well as making our products available just in time for the holidays.", states Carlos Hurtado, CEO of PYTG. Read this and more news for PYTG at http://www.financialnewsmedia.com/news-pytg
In the industry developments and happenings in the market this week include:
Canopy Growth Corporation (NYSE:CGC) (TSX:WEED) earlier this week announced it has entered into two agreements with 48North Cannabis Corp. ("48North") (NRTH.V) a strategic investment financing ("Financing Agreement") and partnership and a supply agreement ("Supply Agreement"). Under the Supply Agreement, 48North will supply Canopy Growth with dried cannabis produced from high-grade, unique genetics, grown at 48North's wholly-owned facility, DelShen Therapeutics Corp. ("DelShen"). The total volume of the Supply Agreement is estimated to be a minimum of 1,200 kilograms and deliverable over the course of 12 months. The first 100-kilogram transfer under the Supply Agreement is expected to ship from 48North's DelShen facility to Canopy Growth by December 5, 2018. Under the Financing Agreement, Canopy will invest $3 million into 48North and receive 4,000,000 Common Units ("Units") at $0.75 per Unit. 48North will issue each Unit at $0.75 to Canopy Growth for $3 million, representing approximately 3.4% of the issued and outstanding shares. Each Unit will be comprised of one Common Share and one quarter Common Share Purchase Warrant (each whole Common Share Purchase Warrant, a "Warrant"). Each full Warrant will entitle the holder to acquire an additional Common Share of 48North for a period of 12 months from the date of issue at a strike price of $1.15, provided that, the expiry of the warrants can be accelerated if the closing price of 48North's common shares on the TSX Venture Exchange ("TSXV") is at least $1.50 for a minimum of 10 consecutive trading days and a notice of acceleration is provided, in accordance with the terms of the warrant, to a date 30 days after the date of the notice.
Aurora Cannabis Inc. (NYSE:ACB) (TSX:ACB) earlier this week announced that, further to its October 17, 2018 announcement that it had received a sales license from Health Canada permitting the sale of cannabis softgel capsules, the Company has commenced shipments for both the Canadian medical and adult-use markets. Aurora expects to commence exports to international markets in early 2019. At scale, the Company anticipates that softgel production at its state-of-the-art Aurora Vie facility in Quebec will reach at least 1.4 million capsules per week. Aurora intends to make this high-volume, high-margin, smoke-free, product available to all of its domestic and international target markets over time where legally possible. Aurora's softgel capsules are produced to pharmaceutical-grade standards at Aurora Vie, in collaboration with leading softgel manufacturer Capcium Inc. ("Capcium"), in which Aurora holds a 19.99% ownership interest. The Company will initially launch the capsules to the medical cannabis market in Canada as well as the adult-use market in British Columbia with additional provincial markets to follow.
Cronos Group Inc. (NASDAQ:CRON) (TSX:CRON) recently confirmed that it is engaged in discussions concerning a potential investment by Altria Group Inc. (MO) ("Altria Group") in Cronos Group. No agreement has been reached with respect to any such transaction and there can be no assurance such discussions will lead to an investment or other transaction involving the companies. Cronos Group is a globally diversified and vertically integrated cannabis company with a presence across five continents. Cronos Group operates two wholly-owned Canadian licensed producers: Peace Naturals Project Inc., which was the first non-incumbent medical cannabis license granted by Health Canada, and Original BC Ltd., which is based in the Okanagan Valley, British Columbia. Cronos Group has multiple international production and distribution platforms across five continents. Cronos Group intends to continue to rapidly expand its global footprint as it focuses on building an international iconic brand portfolio and developing disruptive intellectual property. Cronos Group is committed to building industry leading companies that transform the perception of cannabis and responsibly elevate the consumer experience.
Pyxus International Inc. (NYSE:PYX) recently announced that its joint venture, Criticality, an integrated North Carolina-based industrial hemp company operating under North Carolina's industrial hemp pilot program, has launched "Korent," its new line of cannabidiol (CBD) oil products. Korent's full-spectrum oil drops are available in Vanilla Mint and Grape flavors, in multiple sizes and concentrations. Flavors were custom designed for hemp products in partnership with Purilum, LLC, a leading flavor manufacturer and Pyxus-affiliated company. "Criticality's science-based approach to the extraction, refinement and formulation of high-quality CBD products makes it well positioned in the market and presents a huge growth opportunity for both Criticality and Pyxus," said Pieter Sikkel, Pyxus' president, CEO and chairman of the board.
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