The recent news that Health Canada is beginning to grant Authorized Licensed Producers under the Marihuana for Medical Purposes Regulations the approval to produce cannabis oil is a significant step forward in the cannabis industry as regulations continue to evolve. This latest development allows patients to have access to new formulations of cannabinoid-infused products, which are viable alternatives to smoke-inhalation.
While NSE remains focused on the industrial hemp industry, this movement creates the opportunity for the company to license formulation technology acquired in an earlier transaction with Full Spectrum Laboratories Limited (FSL), to Licensed Producers and eventually, infused product manufacturers providing the platform to develop unique and innovative cannabinoid-infused products for the medical and recreational marijuana markets.
Naturally Splendid is positioned to capitalize on these emerging markets as in an earlier news release it was reported it’s 100% owned American subsidiary, Naturally Splendid Enterprises USA Limited (“Naturally Splendid USA), had secured a suite of cannabinoid extraction and formulation technologies from FSL.
FSL invested well over $10 million developing the technologies covered in the license with Naturally Splendid USA.
The license grants Naturally Splendid USA worldwide rights to a suite of advanced cannabinoid technologies, including the first issued USPTO patent for water-soluble cannabinoids, essential for the development and manufacturing of cannabinoid-based nutraceutical and pharmaceutical products and therapies. The license allows Naturally Splendid USA to create products and industrial solutions in those countries and jurisdictions that allow for the manufacture and distribution of cannabinoid based products.
The license allows Naturally Splendid USA to sub-license these cannabinoid technologies to approved third party companies in countries that allow for the production and distribution of cannabinoid-based products and solutions.
The current American market for cannabinoid-based products is estimated to exceed $300 million this year and is expected to show significant growth year after year for the foreseeable future as regulations continue to evolve and additional states amend their marijuana and industrial hemp laws.
Naturally Splendid CEO Craig Goodwin states, “We want to maximize revenue opportunities relating to cannabis sativa, which includes industrial hemp and marijuana. Through our worldwide licensing agreement with FSL we are positioned to capitalize on the exploding demand for cannabinoid-based products and solutions. Currently, we remain focused on the American market where our hemp extracted cannabinoid products supplied by our strategic partner, Medropharm GmbH, are legal in all fifty states. And we will continue to monitor and position the company to capitalize on the evolving regulatory environment in Canada.”
In Canada, NSE will continue to support the Canadian Hemp Trade Alliance (CHTA) and its continued push for deregulation of industrial hemp and de-scheduling of hemp-derived cannabidiol (CBD). In recent months, the commercial market for hemp-derived CBD products has seen significant growth in the United States despite the fact that domestic hemp cultivation remains illegal in most states. Canada was scheduled to harvest over 100,000 acres of hemp in 2015 and continues to be a global leader in this sector. The Hemp Business Journal estimates that consumer sales of CBD-infused products are projected to reach $85M in 2015.
There are in excess of 80 cannabinoids within industrial hemp and marijuana, many being associated with health benefits. Two of the more recognizable cannabinoids are Tetrahydrocannabinol (THC) and cannabidiol (CBD). The technology from FSL allows us immediate access to commercial ready CBD products.
Cannabidiol (CBD), present in both industrial hemp and marijuana, is arguably becoming the most sought-after cannabis compound due to its medicinal and nutraceutical properties:
These new market segments offer NSE new revenue opportunities both from a licensing standpoint and direct retail sales.
American cannabis sales hit US$17.5 billion in 2020, a research group’s new study shows.
Meanwhile, a Canadian cannabis producer began offering CBD beverages in the US, another move that shows how interested Canadians are in the overall US cannabis market at the moment.
Some pretty important news out of health and wellness; beverage and natural products company BevCanna Enterprises Inc. (CSE:BEV, Q:BVNNF, FSE:7BC) this week. For those of you following the Company with us, stay tuned.
As investors continue to prioritize cannabis opportunities in the US, market watchers expect mergers and acquisitions (M&A) to play a role in the future for Canadian companies.
A consolidation trend has been expected in the Canadian cannabis space for some time now based on the size of the market compared to the number of operations in the country.
BioHarvest Sciences Inc. Unveils the Unique Polyphenolic Content of Its Upcoming Olive-Based Nutraceutical
The product will include polyphenols known to have significant health benefits.
BioHarvest Sciences Inc. (CSE: BHSC) (“BioHarvest” or the “Company”) has reached an important milestone in its development program of additional Nutraceuticals. The olive-based Nutraceutical product scheduled for market availability in the second half of 2022 will contain the following unique matrix of polyphenols: hydroxytyrosol, trosol, and verbascoside. These compounds are the major polyphenols in naturally grown olives and are responsible for the high antioxidant activity of olives and olive oil. Importantly, the BioHarvest olive-based Nutraceutical product will provide all the benefits of olives and olive oil with a low calorie count per serving.
Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco” or the “Company”), one of the largest vertically integrated multistate cannabis operators in the United States, announced today that it will report financial results for the fourth quarter and full year ended December 31 st , 2020 on Thursday March 25 th , 2021 before the market opens.
The Company will host a conference call and webcast to discuss its financial results and provide investors with key business highlights on Thursday March 25 th , 2021 at 8:30am Eastern Time (7:30am Central Time).