Demand for CBD-rich consumer products has been explosive in the U.S. In fact, right now, one in seven Americans say they use CBD products, says a recent Gallup poll. However, those numbers are likely to increase as more CBD makes its way on to many more shelves of major retailers. In fact, the Brightfield Group estimates the U.S. CBD product market alone to be worth over $23.7 billion by 2023, as CBD finds its way into more consumer product categories including food and beverage, pharmaceuticals, cosmetics, and health and wellness. That’s leading to a wide range of opportunity for companies including Veritas Farms Inc. (OTCQB:VFRM), Innovative Industrial Properties Inc. (NYSE:IIPR), Trulieve Cannabis Corp. (CSE:TRUL)(OTCQX:TCNNF), Green Thumb Industries Inc. (CSE:GTII)(OTCQX:GTBIF), and Planet 13 Holdings Inc. (CSE:PLTH)(OTCQX:PLNHF).
Veritas Farms Inc. (OTCQB:VFRM) BREAKING NEWS: Veritas Farms Inc. just announced that the company has released a full-spectrum hemp infused sports cream in a 2oz convenient squeeze tube. Veritas Farms’ Sports Cream is specially formulated by compound pharmacists to achieve with long lasting absorption designed to help minimize recovery times and support post-work out recovery. This represents Veritas Farm’s first product tailored specifically to athletes and will help the company break into a major growth area. Each 2oz tube contains 600mg of farm-to-home full spectrum hemp oil and its convenient size and tube format make it great for travel and easy to apply. “By focusing on expanding into the lucrative athletics niche, Veritas Farms is continuing to prove its credentials as an innovator in the full-spectrum-hemp field.” explained CEO and co-founder Alexander Salgado “Athletes require fast-acting and effective products in order to reach their maximum potential and our new Sports Cream provides just that. ” The Company will showcase and sample the new Sports Cream to consumers this weekend at its booth at the Malibu Marathon, which the Company is a sponsor of.
Other cannabis-related developments from around the markets include:
Innovative Industrial Properties Inc. (NYSE:IIPR) announced it will report results for its third quarter ended September 30, 2019 after the market closes on Wednesday, November 6, 2019. Alan Gold, Executive Chairman, Paul Smithers, President and Chief Executive Officer, and Catherine Hastings, Chief Financial Officer, will host an investor conference call at 10:00 a.m. Pacific Time on Thursday, November 7, 2019, to discuss the company’s financial results and operations for the third quarter 2019.
Trulieve Cannabis Corp. (CSE:TRUL)(OTCQX:TCNNF) is set to open the doors of their record 38th Florida location on Wednesday, October 30th, in Panama City Beach. Trulieve presently operates 37 other dispensaries throughout the State of Florida, including in the nearby communities of Pensacola, Destin, and Tallahassee. The storefront, located on Hutchinson Boulevard near Panama City Beach’s iconic coastline, will advance the company’s mission to expand and ensure safe, reliable patient access statewide. “We’re fortunate to have a passionate patient base in the Panhandle and are looking forward to bringing our exceptional selection of products to patients in Panama City Beach and the surrounding areas. As Florida’s registry grows and patients continue to seek natural, effective relief, we will continue to expand patient access to the safe, reliable medications they rely on,” said CEO Kim Rivers. “Our team in Panama City is looking forward to educating patients on the process, whether they’re taking their first steps with medical cannabis or exploring alternative treatment options, as well as offering direct access for those who may not have had access to a physical dispensary in the past.”
Green Thumb Industries Inc. (CSE:GTII)(OTCQX:GTBIF) announced that it will hold a conference call on Wednesday, November 20, 2019, at 5:00 pm ET following the release of its third quarter 2019 financial results after market close. The earnings conference call may be accessed by dialing 877-273-8145 (Toll-Free) or 647-689-5400 (International) with conference ID: 7085899. A live audio webcast of the call will also be available on the Investor Relations section of GTI’s website.
Planet 13 Holdings Inc. (CSE:PLTH)(OTCQX:PLNHF) announced that it has launched a new beverage brand, Elysium, a refreshing THC-infused line of low-calorie flavored sparkling water. “Elysium marks our first step into the exciting THC beverage space. We’ve created and perfected a sparkling water beverage based on both customer demand and market trends. This low-calorie refreshing drink with zero added sugar was designed to be a fast-acting alternative without the guilt, the perfect micro-dosing beverage,” said Bob Groesbeck Co-CEO of Planet 13. “Our expanded production facility will enable us to increase production of our top selling TRENDI line and begin production of Elysium and our highly anticipated edibles lines Dreamland Chocolates and HaHa Gummies. Customers will be able to watch these brands being manufactured behind glass. Increased sales of inhouse brands will drive margin expansion and ultimately shareholder value.” Elysium is a line of flavored sparkling beverages available in five flavours: Valencia Orange, Persian Lime, Eureka Lemon, Wild Berry, and Ruby Red Grapefruit. All flavors are low calorie, zero sugar using all-natural fruit flavourings and designed for an uplifting high.
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