Palm Beach, FL – August 25, 2021 – FinancialNewsMedia.com News Commentary – CBD products derived from hemp derived have gained quite a rise in popularity over the past several years, but now, secondary or ‘minor’ cannabinoids seem to be destined to also have exceptional growth rates. The use of cannabinoids for various purposes has gained momentum in the U.S. Favorable government regulations have proved to be beneficial for the increase in the number of players entering the market. Moreover, the increase in demand for major as well as minor cannabinoids and affirmative researchers carried on for claiming their health benefits has helped in increasing the awareness regarding cannabinoid use. There is moderate competition amongst the existing players as the machinery and extraction processes are quite expensive and this poses a high entry barrier. However, the existing players are keen on diversifying their product portfolio into other cannabinoids which makes the market dynamic. It would further help in creating an environment for R&D in accordance with the growing CBD industry. A report by Grand View looked toward the potential rise of the ‘minor’ cannabinoids, saying: “Moreover, the research funding for the industry also plays an important role in promoting startups to launch novel and innovative products in the market. The growth of the market is expected to favor the entry of several new players in the future, with rising awareness regarding the health benefits of minor cannabinoids such as CBG, CBDa, CBC, and CBN in the U.S. Active companies in the markets this week include: CAN B CORP. (OTCQB: CANB), Tilray, Inc. (NASDAQ: TLRY) (TSX: TLRY), Cronos Group, Inc. (NASDAQ: CRON) (TSX: CRON), Canopy Growth Corporation (NASDAQ: CGC) (TSX: WEED), Sundial Growers Inc. (NASDAQ: SNDL).
Grand View added: “Increasing number of consumers opting for isolated cannabinoid products and rising awareness pertaining to cannabinoid products are the key factors driving the market…. CBDa products are anticipated to witness the fastest growth over the forecast period owing to potential health benefits and higher efficiency in managing health conditions. The rise in the number of players entering the market coupled with increasing awareness regarding health benefits offered by CBDa such as relieving pain, reducing inflammation, and lowering serotonin levels is further anticipated to fuel the growth of the product segment during the forecast period. Based on the above and the rest of their report, Grand View said that The U.S. cannabinoids market size2802 was valued at USD 2.3 billion in 2019 and is expected to expand at a compound annual growth rate (CAGR) of 20.4% from 2020 to 2027.”
CAN B CORP. (OTCQB: CANB) BREAKING NEWS: Can B Corp. Secures Lease for 300,000 Square Foot Facility in McMinnville, Tennessee – Can B Corp. (“Can B” or the “Company”), a diversified health and wellness company specializing in the development, production, and sale of products containing hemp-derived cannabinoids, is pleased to announce it has acquired a lease for a 300,000 square foot facility to support the operations of its recently closed acquisition of assets from Music City Botanicals, in McMinnville, Tennessee. Can B has also acquired the right of first refusal and an option to outright purchase the facility during the term of the lease.
The facility is located halfway between Nashville and Chattanooga in central Tennessee, approximately 75 miles from each city, and a former Data Center for Litewire Data Company and police headquarters for the county of Warren, Tennessee.
Currently, the facility has two sub-tenants utilizing under 20% of the building, including hemp storage and hemp drying. It also encompasses TN Botanicals’ R&D department, isomer lab, and extraction facilities. Additionally, the property is already equipped with a rail spur to its loading doors. The facility has backup generators at one-megawatt capacity.
Marco Alfonsi, Can B’s Chief Executive Officer, commented, “Securing this lease to be able operate from this facility is a huge win for our Company. Its location, footprint, and existing infrastructure will accelerate our capabilities and enable us to become among the leading producers of hemp-based cannabinoid products in America.”
The addition of assets recently acquired by the Company from Music City Botanicals within this facility adds additional expansion opportunity extraction and isomer lab production with such products a Delta-10, CBG, CBN, and CBDA. New retail products of the Company will include pharmaceutical-grade CBD and related manufactured goods. In-house labeling and packaging now available to the Company will create a chain of custody and compliance process that is uncommon in the industry. Read this full release for CANB at: https://www.financialnewsmedia.com/news-canb/
Other cannabis-related developments from around the markets include:
Tilray, Inc. (NASDAQ: TLRY) (TSX: TLRY), a global pioneer in medical cannabis research, cultivation, and production, recently announced the launch of medical cannabis edibles in THC and CBD-rich varieties of chocolates and soft chew gummies. The new Tilray-branded medical cannabis edibles are now available for patients across Canada and add to the brand’s comprehensive offering of cannabis medicines, including whole flower, oils, vapes, and pre-rolls developed with patient health and wellbeing in mind.
Irwin D. Simon, Tilray’s Chairman and Chief Executive Officer, said, “Whether it’s pain management, anxiety treatment, or everything in between, patients are asking for more choices in the medical cannabis category, and Tilray remains committed to the innovations that improve patient wellbeing. As cannabis regulations evolve around the world, we look forward to offering our global patient community the highest-quality medicines they depend on for health, wellness and wellbeing.”
Cronos Group, Inc. (NASDAQ: CRON) (TSX: CRON), an innovative global cannabinoid company, and Ginko Bioworks (“Ginkgo”), which is building the leading horizontal platform for cell programming, recently announced the achievement of the first target productivity milestone in their partnership to produce eight cultured cannabinoids. Ginkgo, which recently announced a business combination with Soaring Eagle Acquisition Corp. (NASDAQ: SRNG), serves customers across industries seeking to develop new and better products using biology. Using Ginkgo’s platform for organism design and development, Cronos Group has successfully achieved the productivity target for cannabigerolic acid (CBGA), which will support the Cronos Group’s planned CBG product launch this fall.
Launched in 2018 with the goal of accessing rare molecules in the cannabis plant in order to create innovative and differentiated products that would otherwise be cost-prohibitive, the partnership between Cronos Group and Ginkgo aims to develop eight molecules. The program convenes Cronos Group’s deep understanding of the biological structure and function of cannabinoids with Ginkgo’s unparalleled experience designing microorganisms for the production of cultured products across pharmaceuticals, agriculture and more.
Canopy Growth Corporation (NASDAQ: CGC) (TSX: WEED), a world-leading diversified cannabis, hemp, and cannabis device company, recently announced two new offerings with the launch of Tweed Quickies and Ace Valley Pinners. These products showcase the continued evolution of Canopy Growth’s pre-roll portfolio in line with consumer preference – providing Canadians with smaller joints in larger pack sizes of 8 or 10. In time for summer socializing, this is the perfect way to enjoy and share cannabis in a group setting, without having to pass a single joint around.
Canopy Growth recently commissioned a study by Dig Insights that found that traditional 0.5 gram joints are too big for many consumers to enjoy in one sitting and take too long to consume, in addition to concerns around sharing in current times. Canopy Growth leveraged this insight to develop its first two product lines – Tweed Quickies in 0.35 gram and Ace Valley Pinners in 0.3 gram offerings – with research indicating this was the optimal size for a quicker session that could be enjoyed on one’s own or within a group setting without the need to share.
Sundial Growers Inc. (NASDAQ: SNDL) recently announced the completion of the previously disclosed arrangement whereby Sundial has acquired all of the issued and outstanding common shares of Inner Spirit Holdings Ltd. (ISH-INSHF) for consideration per Inner Spirit Share consisting of (i) $0.30 in cash and (ii) 0.0835 of a common share of Sundial.
TRANSACTION HIGHLIGHTS WERE: Establishes Sundial as one of Canada’s largest vertically integrated cannabis companies: Sundial is a diversified cannabis company with a strong brand portfolio and extensive consumer packaged goods experience. Acquiring Spiritleaf broadens Sundial’s business with a strategic entry into cannabis retail and enables greater access to and understanding of retail markets, product marketing insights and consumer purchasing trends; Establishes Sundial as Canada’s largest single-branded network of retail operations: The addition of well-established Spiritleaf franchised and corporate-owned stores, representing the country’s largest single-brand recreational cannabis retailer with 100-plus stores across six provinces, provides Sundial with an integration and expansion platform in current operating markets in Canada; and Strengthens Sundial’s retail expertise with cannabis advocates: Spiritleaf has earned its reputation as an industry leader for its franchise sales and support system, in-store design and experience, employee education and training, marketing creativity and customer benefits program.
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