SACRAMENTO, CA / ACCESSWIRE / April 17, 2019 / Falcon Technologies, Inc. (OTC PINK: FLCN), a company focusing on the marketing, sale, and distribution of CBD products and products derived from industrial hemp such as protein powder, hemp seeds and hemp oil has commented on the recent news that CVS began selling topical CBD products.
Universally known as CBD, Cannabidiol (the scientific name for CBD) is one of at least 80 active cannabinoids identified in both cannabis and industrial hemp. It is a major constituent of both plants, although the percentages of total composition can vary greatly from strain to strain. Unlike THC (the other prevalent cannabinoid), CBD is non-psychoactive while having the potential to possess a variety of therapeutic properties.
The 2018 Farm Bill legalized industrial hemp, removing this plant rich in CBD and nutritional supplements from the Controlled Substance Act and categorizing it as an agricultural commodity. This bill will allow states to regulate hemp farming while moving the industrialization of the hemp plant forward. As industrial hemp once again becomes one of America's most popular agricultural crops, the amount of CBD processed from the plant will grow exponentially. The hemp-CBD market is projected to grow from $600 million in 2018 to $22 billion by 2022.
Over the past week, CVS, one of North America's largest drug store chains began selling topical CBD products. In an interview with CNBC's Jim Cramer, CVS CEO Larry Merlo commented on CVS now selling CBD products, "We're going to be carrying them in 8 states. We're going to be carrying the topical products only. " Merlo added, "Anecdotally, we've heard from our customers that have used those products, it's helped for pain relief, arthritis and other ailments. We're going to walk slowly but we think this is something the customers are going to be looking for as part of the health offering."
William Delgado, Chairman and Chief Executive Officer of Falcon Technologies commented, "We applaud CVS's entry into the CBD market. Several weeks ago, we announced that we filed a provisional patent application titled "CBD Formulations to Treat Acne". We are also working diligently behind the scenes to create CBD formulations for other skin conditions."
Delgado added, "It is critically important that our shareholders and investors understand we are one step ahead. The whole world is focusing on CBD topical formulations for pain. We believe it goes well beyond that and we will be announcing additional progress and CBD topical formulations over the next few weeks and months."
About Falcon Technologies, Inc. (a/k/a Eco-Growth Strategies, Inc.)
Falcon Technologies, Inc. (a/k/a Eco-Growth Strategies, Inc.) is a nutraceutical company developing a range of CBD-based products. The company's mission is to employ best practice science to source, manufacture and package all of its CBD products from within the United States. The company performs farm site visits and manufacturing site visits and sources its products from only the highest quality hemp farms and processors in North America. The company also aims to launch a line of CBD products specially formulated for animals by the end of 2019.
The statements made regarding CBD products including our future products have not been evaluated by the Food and Drug Administration. The efficacy of these products and the testimonials made have not been confirmed by FDA- approved research. These products are not intended to diagnose, treat, cure or prevent any disease. All information presented here is not meant as a substitute for or alternative to information from health care practitioners. Please consult your healthcare professional about potential interactions or other possible complications before using any product. The Federal Food, Drug, and Cosmetic Act requires this notice.
SAFE HARBOR ACT
Forward-Looking Statements are included within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.
William J. Delgado
SOURCE: Falcon Technologies, Inc.
View source version on accesswire.com: