Since the passing of the farm bill in 2018, which legalized the US hemp market, hemp-derived CBD products have gained steam as novelty items outside traditional marijuana shops in the country.
This move would represent another set of major retailers with wide networks of stores across the US entering the CBD market.
On the potential for Walmart and Target stores to start offering these products, the New York Post wrote:
The Post has learned that top executives at major chains such as Walmart and Target have been quietly meeting with makers of drinks, gummy bears, topical creams and oils that are infused with cannabidiol, or CBD.
“Like many companies, we know there is consumer interest in CBD products, and the conversation is evolving quickly,” a Target spokesperson told the New York Post, but did not expand.
Shelf space for these novelty CBD products has risen in the US thanks to the entry of established pharmacy players.
This announcement came on the heels of CVS Pharmacy (NYSE:CVS) also confirming the start of sales for these products. The new came during a quarterly update conference call from multi-state operator (MSO) Curaleaf Holdings (CSE:CURA,OTCQX:CURLF).
The MSO explained to investors that its line of CBD products aimed at the health and wellness market would be part of the sales launch from CVS pharmacies.
“I think that, in anticipation of the farm bill last year, many retailers were trying to come to a strategy for how they were going to address hemp,” Joseph Lusardi, CEO of Curaleaf, said in the call.
The race for CBD products seems to be adding players by the day, with burger chain Carl’s Jr. announcing it would release a CBD-infused burger for 420, and even the Oreo cookies manufacturer saying that it wants some form of CBD-infused product on shelves.
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Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.
Agreement propels development of safe and effective proprietary products and formulations for the emerging psychedelic industry
Optimi Health Corp. (CSE: OPTI) (“Optimi” or the “Company”), developers of a vertically integrated functional mushroom brand focused on the health and wellness sector, is pleased to announce that effective January 4, 2021, it entered into a lab services agreement with Numinus Wellness Inc. (“Numinus“). Recognized as an early leader in developing and supporting the safe, evidence-based, accessible use of psychedelic-assisted psychotherapies (PAP), Numinus is aiding Optimi’s mission to further the research and development of Canadian-grown psilocybin-producing mushrooms and related product formulations.
Nextleaf Solutions Provides a Corporate Update and Comments on Financial Results from the First Quarter
Nextleaf Solutions Ltd. (CSE: OILS) (OTCQB: OILFF) (“Nextleaf”, “OILS”, or the “Company”), the world’s most innovative cannabis processor, is pleased to provide shareholders with the following corporate update:
Nextleaf Comments on Financial Results from Q1 Financials
Hill Street Beverage Company Inc. (TSXV: BEER) (“Hill Street” or the “Company”) reported its second quarter results for the period ended December 31, 2020. A complete set of financial statements and Management’s Discussion & Analysis has been filed at www.sedar.com. All dollar figures are quoted in Canadian dollars.
The second quarter of FY21, saw continued momentum for the Company despite ongoing pandemic related challenges. Net revenue grew 8% to $745,748 from $689,276 versus the same quarter year ago. The Company also saw significant improvement on its bottom line, reducing its net loss by 50% from ($.956) million to ($.481) million, year over year for the quarter, as a result of improved gross margin and cost management efforts. On December 9, 2020, the company announced the closing of the acquisition of substantially all of the assets of Lexaria Canpharm (“Canpharm“), the cannabis products division of Lexaria Biosciences, resulting in the addition of a new B2B Line of Business.
FinCanna Capital – The Only Publicly Traded, Royalty-Focused Company for the Licensed U.S. Cannabis Industry Provides Corporate Update
Royalty Model Provides Access to Early Stage Licenced U.S. Cannabis Companies and Leverage to High-Margin Revenues
FinCanna Capital Corp. (“FinCanna” or the “Company”) (CSE:CALI), a royalty company for the licensed U.S. cannabis industry, is pleased to provide a corporate update further to its recently announced upsized financing of $2 million
Significant progress made as Numinus-sponsored PRIME study on psilocybin-assisted psychotherapy for opioid, stimulant and/or alcohol use disorders enters pre-implementation stage
Numinus Wellness Inc. (“Numinus” or the “Company”) (TSXV: NUMI), a company creating an ecosystem of health solutions centered around developing and supporting the safe, evidence-based, accessible use of psychedelic-assisted psychotherapies (PAP), and Syreon Corporation (Syreon), a global contract research organization with expertise in conducting clinical trials across a broad range of diseases, are pleased to share that significant progress has been made in the single-arm, open-label compassionate access 1 trial of Psilocybin-Research Intervention with Motivational Enhancement (PRIME) for substance use disorders. Currently in the development stage, the PRIME study will assess the efficacy and safety of psilocybin-assisted motivational enhancement therapy.