PALM BEACH, Fla., Oct. 1, 2020 /PRNewswire/ -- The global CBD and CBD oil market revenues are projected to continue to rise significantly in the coming years. Increasing consumer preference for various cannabidiol infused products such as capsules, cannabis oil, beverages, beauty and skincare products, gummies, and dog treats is further anticipated to drive the CBD oil and CBD consumer health market. Cannabidiol can enter the body in several ways such as vaping, ingesting, smoking, and through the skin. Growing adoption of cannabidiol to manufacture medical drugs and personal care products in states where cannabis is legal is positively impacting the market growth. The legalization of cannabis-based products has provided a remarkable opportunity for the end-user industries to expand. The growing number of research activities, increasing awareness regarding synthetic cannabidiol, and rising strategic investments by companies are expected to contribute to the overall growth through 2027. Mentioned in today's commentary include Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB), Sativa Wellness Group Inc. (CSE: SWEL), Naturally Splendid Enterprises Ltd. (TSXV: NSP) (OTCQB: NSPDF), Aphria Inc. (NASDAQ: APHA) (TSX: APHA), Namaste Technologies Inc. (TSXV: N) (OTCQB: NXTTF).
Reports from Grand View research have addressed both the CBD and CBD oil markets in optimistic reports. One such report said that the global cannabidiol market was valued at USD 4.6 billion in 2018 and is expected to grow at a compound annual growth rate (CAGR) of 22.2% from 2019 to 2025. The demand for cannabidiol (CBD) for medical and wellness purposes is high due to its healing properties, which is the key factor driving the growth of the market. Moreover, growing product adoption and utilization owing to government approvals is a major factor anticipated to drive the demand for cannabidiol infused products. Cannabidiol has become the latest consumer trend, which is a result of the increasing number of social media influencers promoting the benefits of cannabis, marketing initiatives by the industry participants, and growing application areas. Subsequently increasing product options such as skincare, cosmetics, haircare, intimate lubricants, pharmaceuticals, gummies, pills, infused beverages, and other products are also driving the market for cannabidiol.
Sativa Wellness Group Inc. (CSE:SWEL) Breaking News: Sativa Wellness Group Inc. (previously, Stillcanna, Inc.) Announces Closing of Transaction with Sativa Group Plc. and Resumption of Trading on the Canadian Securities Exchange - Sativa Wellness Group Inc. (formerly, Stillcanna Inc.) (CSE:SWEL) ("Sativa" or the "Company") is pleased to announce that further to news releases dated September 10, 2020 and September 18, 2020, following the closing of the Company's acquisition, through a scheme of arrangement, of Sativa Group Plc (the "Transaction") the common shares of the Company will resume trading on the Canadian Securities Exchange ("CSE") at the market open on September 30, 2020. Trading will resume on the CSE under the new symbol "SWEL". The Company will be listed for trading on the AQSE Growth Market (the "AQSE") in the United Kingdom (the "UK") on Thursday, October 1, 2020 under the new symbol "SWEL" and expects to be quoted on the over-the-counter (the "OTC") market in the United States and the Frankfurt Stock Exchange (the "FSE") shortly.
The Company would like to sincerely thank shareholders for their patience and support during the trading halt. The Transaction was subject to requisite legislative and exchange regulatory approvals in both the United Kingdom and Canada.
Going forward, Sativa is now a true vertically-integrated European seed-to-consumer cannabidiol ("CBD") wellness company. The Company manages the cultivation of raw materials, owns extraction, packaging and testing facilities, and has developed and marketed leading consumer brands. This complete supply chain custody model ensures that retail and wholesale customers receive pharmaceutical grade CBD products they can trust.
"We are thrilled to have completed the process of combining our two businesses to form a leading European CBD Wellness company", stated Henry Lees-Buckley, CEO of Sativa. "Discerning consumers demand very high quality and compliant products and we believe the best way to ensure the Company is able to fulfill this demand is to have management control throughout the entire production, manufacturing and distribution process. The regulatory environment in the UK and Europe are also rightly demanding companies achieve new compliance standards such as the UK FSA Novel Foods accreditation. We expect our products will be validated by the UK FSA by the March 2021 deadline," added Henry.
In addition to the commercial operating activities, a wholly owned subsidiary "Sativa Cultivation and Extraction Ltd" holds a Controlled Drug License for the cultivation, production and possession of high THC content cannabis in the UK for medical research as part of the Company's partnership agreement with King's College London to research the impact of cannabinoids on inflammation and respiratory conditions. Read more news announcements for SWEL at: https://sativawellnessgroup.com/category/press-releases/
In other active company news in the markets this week:
Aurora Cannabis Inc. (NYSE :ACB) (TSX: ACB) recently announced its financial and operational results for the fourth quarter of fiscal 2020 ended June 30, 2020. "As reported in our September 8, 2020 business update, our Q4 demonstrated progress in rationalization of SG&A and cash burn along with continued leadership in both Canadian and international medical. However, Aurora has slipped from its top position in Canadian consumer, a market that continues to support material growth and opportunity," stated Miguel Martin, recently appointed Chief Executive Officer of Aurora. "My focus is therefore to re-position the Canadian consumer business immediately. We look to expand beyond the value flower segment, leverage our capabilities in science and product innovation and put our effort on a finite number of emerging growth formats. This entails prioritizing our San Rafael, Aurora and Whistler premium brands in flower, pre-rolls and vapor, which will be shortly followed by strategic marketing and innovation efforts in concentrates and edibles."
Naturally Splendid Enterprises Ltd. (TSXV: NSP) (OTCQB: NSPDF) recently announced they have signed an exclusive sales and distribution agreement for an extensive line of plant-based, meat alternative products, with one of Australia's most popular plant-based manufacturers. Naturally Splendid has come to terms with BettaLife Global Food Solutions of Australia for the exclusive sales and distribution rights for Canada, for a wide range of plant-based, meat alternative products. The Company has also been granted sales and distribution rights to access the United States market.
Additionally, Naturally Splendid has confirmed adequate line processing time with the manufacturer to meet current needs into Q2 of 2021. The companies have begun discussions on building out a manufacturing facility in Canada to meet anticipated consumer demand for these market disrupting products.
Aphria Inc. (NASDAQ: APHA) (TSX: APHA), a leading global cannabis company, recently announced it has entered into a Strategic Supply Agreement (the "Agreement") with Canndoc Ltd. ("Canndoc"), a subsidiary of InterCure Ltd., one of Israel's largest and most established medical cannabis producers. Under the terms of the Agreement, Aphria will supply Canndoc with dried bulk flower over a two-year period, with the option to extend for two additional terms of two years each, and an option for an additional year after that if the parties agree to terms. During the first two-year term and each additional term, if applicable, the Company will provide Canndoc with 3,000 kgs. of bulk dried flower, which will be processed into finished product, co-branded under the Aphria and Canndoc brand names, and sold exclusively within the Israeli market.
Namaste Technologies Inc. (TSXV: N) (OTCQB: NXTTF), a leading online platform for cannabis products, accessories, and responsible education, recently provided a corporate update with regards to a change in management and the settlement of an outstanding claim to the benefit of Company shareholders.
The Company is pleased to announce the appointment of Slava Klems, CPA, CA, as interim chief financial officer as of October 31, 2020. Ms. Klems succeeds Annie Holmes who is leaving Namaste to pursue other opportunities, concluding her role as chief financial officer on October 30, 2020.
"I would like to welcome Ms. Klems to the position of interim chief financial officer for Namaste," said Meni Morim, CEO of Namaste Technologies. "She has an impressive background in corporate finance with experience in technology and platform integration and has shown an incredible business acumen since joining the Company. I look forward to working with Ms. Klems as we seek to drive Namaste forward. Additionally, I would like to thank Ms. Holmes for her work at Namaste and her assistance with the seamless transition to Ms Klems over the next few weeks."
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