NEW YORK, April 16, 2019 /PRNewswire/ -- Hemp, a derivative of the cannabis plant, has been used for centuries due to its multi-faceted nature. Hemp, for instance, is used to manufacture textiles, paper, construction materials, and fuel. Most commonly, hemp is known for being derived from the cannabis plant, which has caused it to be classified as a drug under international regulations. However, while unlike marijuana, hemp does not cause psychoactive effects, marijuana and hemp actually offer similar therapeutic benefits. The two differ heavily in the biological makeup of their THC and CBD compounds however; Marijuana contains significantly more THC, which causes the psychoactive effects. On the other hand, hemp contains minimal traces of THC, but contains more CBD. Medical institutions are now reevaluating hemp and its derivatives in order to leverage it for medical uses as CBD can be used to treat medical conditions such as chronic pain, neurological disorders and epilepsy. Furthermore, the U.S. Food and Drug Administration approved its first CBD-derived drug in 2018, Epidiolex, which is used to treat seizures in patients associated with Lennox-Gastaut syndrome or Dravet syndrome. The FDA's move to approve Epidiolex adds credibility to the cannabis industry, demonstrating that it can potentially become an alternative to traditional medications. According to data compiled by Hemp Business Journal, a division of New Frontier Data, the total sales for the U.S. hemp industry totaled USD 820 Million in 2017. The research suggests that the industry is expected to grow to USD 1.9 Billion by 2022, and at a CAGR of 14.4% during the 5-year period. NutraLife Biosciences, Inc. (OTC: NLBS), Leafbuyer Technologies, Inc. (OTC: LBUY), Liberty Health Sciences Inc. (OTC: LHSIF) (CSE: LHS), InMed Pharmaceuticals, Inc. (OTC: IMLFF) (TSX: IN), PotNetwork Holdings, Inc. (OTC: POTN).
In 2017, hemp-derived CBD products accounted for the largest market share as the segment delivered sales of USD 190 Million, accounting for 23% of the overall market in 2017. Sales from the food, personal care, and industrial applications also contributed to a significant portion of the market share. By 2022, Hemp Business Journal forecasts that hemp-derived CBD products will continue to dominate the market, driving in USD 646 Million in sales. The rapid expansion of the CBD marketplace has led to the emergence of new CBD-based products. Consumers can now more easily find CBD products in their local pharmaceutical stores or even a convenience store. The CBD market can accelerate even further if clinical trials progress and report positive data, since the FDA requires effective, large-scale trials in order to evaluate cannabis as a form of treatment. Researchers from the University of Minnesota's (U of M) College of Biological Sciences and College of Food, Agricultural, and Natural Resource Sciences are one of the handfuls of groups that are federally authorized to study cannabis. The researchers have argued they have "indisputable evidence" that hemp and marijuana should be separated, according to Mercola. "It's a plant of major economic importance that is very poorly understood scientifically. With this study, we have indisputable evidence for a genetic basis of differences among cannabis varieties, further challenging the position that all cannabis should be regulated as a drug," said George Weiblen, a professor with a joint appointment in the U of M's College of Biological Sciences and College of Food, Agricultural and Natural Resource Sciences.
NutraLife Biosciences, Inc. (OTCQB: NLBS) just announced breaking news this morning that the company, "to launch a new line of Phytocannabinoid rich (PCR) water enhancing drops under its new in-house brand PCR Pure. NutraLife's new CBD water enhancers will initially be available in four flavors, strawberry, grape, coconut and watermelon. Each 2 oz. bottle will contain 15 servings and have 20 mg per serving or 300 mg per bottle of PCR hemp extract. The new water enhancers are infused with the extract and can be added to water or other beverages to help support overall health and wellness.
NutraLife's water enhancers will be manufactured at its Coconut Creek facility in accordance with Good Manufacturing Practices (GMP) under the direction of Edgar Ward, the Company's Chief Executive Officer. NutraLife's products are tested for potency and purity by its in-house laboratory chemists. The Company's products also undergo third-party testing to ensure they do not contain contaminants such as heavy metals, pesticides, and solvents.
NutraLife manufacturers and distributes thirteen different core formulations which it modifies to meet the specifications of its private label customers. The Company provides approximately 50 different variations of its core formulations. In addition to NutraLife's CBD water enhancers, NutraLife's products include CBD infused oral sprays, tinctures, pet drops, pain balms, face creams, and nutraceutical oral spray products for daily health and wellness uses.
NutraLife's CBD water enhancers are designed to provide a convenient daily dose of Phytocannabinoid rich hemp extract for on the go. NutraLife's water enhancing drops will be coming soon to online retailers as well as the Company's website at PCRPure.com.
About the Company - Nutralife Biosciences, Inc. operates a multifaceted life sciences company. For more than 6 years the Company has manufactured and distributed private label and branded nutraceutical and wellness products. The Company launched its hemp-based CBD products in 2017. Through its subsidiaries, Precision Analytic Testing, Inc., and PhytoChem Technologies, Inc., NutraLife provides bulk material analytical, identity, potency and purity testing of raw hemp, hemp cultivation, raw bulk material extraction and processing."
Leafbuyer Technologies, Inc. (OTCQB: LBUY) is a multi-platform cannabis technology company connecting consumers with dispensaries and product companies through online, loyalty, print, and in-person initiatives. Leafbuyer Technologies, Inc. recently announced that the Company officially launched leading mobile application Greenlight in Colorado and Oklahoma. The statement follows a November 8, 2018, release announcing Leafbuyer's acquisition of Greenlight. Previously a California-only order ahead and loyalty platform, Greenlight is now available to Leafbuyer dispensary customers located in Colorado and other legal cannabis markets. At time of writing, 16 Leafbuyer dispensary clients have signed up for the cutting-edge technology in Colorado and 9 additional clients in Oklahoma. Through the Greenlight app, consumers can preorder their favorite cannabis products from participating dispensaries and skip the line when they go to pay and pick them up. "Greenlight is one more way we provide industry-leading technology for our customers," said Mark Breen, Chief Operating Officer of Leafbuyer. "The Greenlight initiative in Colorado provides more value to current and potential Leafbuyer clients."
Liberty Health Sciences Inc. (OTCQX: LHSIF) (CSE: LHS) is the cannabis provider committed to providing a trusted, high quality cannabis experience based on our genuine care for all cannabis users and a focus on operational excellence from seed to sale and beyond. Liberty Health Sciences Inc. recently announced the launch of Zentient Labs, a line of premium hemp-based CBD products made from a proprietary formula of ultra-high quality CBD, nutraceuticals and vitamins that promote energy and focus for wellness seekers. Zentient Labs will include a line of products across numerous categories including propriety brands and partner brands. These categories will include an athletic line, a wellness line, beauty and premium pet products. Liberty carefully selected the brand name Zentient Labs to deliver on a promise to provide high-quality CBD products to customers who seek out creative pursuits, the deepest of relaxation and the most aggressive sports activities. The Company did extensive consumer research to define what this brand will represent. "Liberty Health Sciences is quickly becoming a leading cultivator and distributor of premium cannabis products through low-cost production techniques and high-end dispensary design and intends to apply the same techniques to the cultivation and distribution of hemp-derived products," said George Scorsis, Chief Executive Officer of Liberty Health Sciences. "We currently operate two facilities in Florida with a total cultivation capacity of over 41,000 square feet.
InMed Pharmaceuticals, Inc. (OTCQX: IMLFF) (TSX: IN) is a biopharmaceutical company developing a proprietary biosynthesis system for the manufacturing of pharmaceutical-grade cannabinoids, as well as a pipeline of cannabinoid-based medications that target diseases with high unmet medical needs. InMed Pharmaceuticals Inc. recently provided an update on its drug development program for the treatment of Epidermolysis Bullosa ("EB"). The Company has determined that the clinical development path forward with its investigational drug candidate for the treatment of EB, previously referred to as INM-750, will be optimized by transitioning to an alternative formulation, now designated as INM-755. INM-755 is formulated based on one of the two cannabinoids that comprised INM-750. The Company remains on track to file a Clinical Trial Application with Health Canada in the second half of 2019, with the initiation of a Phase I clinical trial beginning before the end of the year. Alexandra D.J. Mancini, MSc, InMed's Senior Vice President, Clinical and Regulatory Affairs, commented, "Our decision to move forward in clinical development with INM-755 is data-driven. Moreover, we believe that pursuing a single-agent formulation, rather than a combination product, will ultimately improve the probability of development and regulatory success in this complex and rare disease," Ms. Mancini continued, "INM-755 will be developed based on its potential to provide symptomatic benefit for all EB patients, and possibly improve skin integrity in a subset of EB Simplex patients through keratin up-regulation."
PotNetwork Holdings, Inc. (OTC: POTN) is a publicly-traded company that acts as a holding company for its principal subsidiaries, First Capital Venture Co., the owner of Diamond CBD, Inc., the maker of Diamond CBD products. Diamond CBD Inc., a wholly-owned subsidiary of PotNetwork Holdings, Inc., and a leader in cutting-edge, hemp-derived CBD products for the wellness market, recently announced that it had its sights set on the booming pet industry, a market worth an estimated USD 72 Billion according to the American Pet Products Association (APPA). The Company's award-winning MediPets line of pet CBD products was on showcase for three days at the influential Global Pet Expo in Orlando, Florida from March 20 - 22. Diamond CBD's MediPets line of hemp-derived CBD-infused oils, pet treats, and pet sprays are specially formulated to let cat and dog owners share the health benefits of CBD with their favorite furry friends. The Company's pet products have drawn rave reviews, with MediPets Dog Treats winning a 2018 Pet Business Industry Recognition Award by Pet Business Magazine. "We recognize that our consumers love their pets as much as any member of their family. That's why our MediPets team is dedicated to creating a range of CBD-infused products in different flavors and categories that will help keep pets healthy and happy," said Kevin Hagen, Chief Executive Officer of PotNetwork Holdings, Inc. "It was great to be a part of another amazing Global Pet Expo and give retailers, wholesalers, and market buyers an opportunity to get to know and experience our great brand."
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