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Cannabis Science Inc (OTCMKTS:CBIS) Restructuring To Exploit Market’s Full Potential

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The medicinal cannabis market of the United States is doing well and companies want to tap the benefits. In a recent press release, Cannabis Science Inc (OTCMKTS:CBIS) announced the launching of “a new corporate advisory structure.” This is in the purposes of facilitating a company strategy that seeks to sharpen the company’s competitive edge. In addition, the company announced changes in key advisory boards.

Exciting times for Cannabis Science Inc (OTCMKTS:CBIS)

As part of the strategy, the company set up research and development initiatives that would spearhead operations. According to Mr. Raymond C. Dabney, CBIS’ President, CEO, and Co-Founder, the initiatives are moving smoothly. The CEO notes that the restructuring of the advisory boards is one step in achieving strategy goals. He says: “It’s time for the Company to better align our advisory boards in support of our corporate objectives and take advantage of the many talented people we have access to.”

In addition, Cannabis Science Inc (OTCMKTS:CBIS) has taken other steps to ensure that it achieves the strategy target. In the release, CBIS reveals that it launched the Cannabis Science Global Consortium. Per the company, the consortium will provide “a platform to cooperate and collaborate with stakeholders worldwide.”

The platform brings together institutions of higher learning, business and non-profit organizations as well as government agencies. The ultimate purpose of the framework is to enable sharing and implementation of “cutting-edge research programs.” Eventually, the Cannabis Science Global Consortium seeks to achieve better “medicines and delivery mechanisms from bench-to-bedside.”

Game changer

Moreover, CBIS reveals that an iCannabinoid Marketplace will go live soon by Crown Baus Capital Corporation. The solution will provide an online platform over which CBIS can negotiate the sale of medicinal cannabis products. With real-time data transfer capabilities, users can “find and negotiate with buyers and sellers of medical marijuana products worldwide.”

Most importantly, the iCannabinoid Marketplace will be open all day long. This will enable users in different time zones to access the market and get products they desire.

The CEO believes that the marketplace is a game changer in the industry. He says, “This new and exciting platform will change how medical cannabis equipment and supplies are bought and sold worldwide.”

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WeedMD Inc (OTCMKTS:WDDMF) Signs A Pact With Fire & Flower To Manufacture CBD Cannabis Products: Will Announce Q2 2020 Revenues On September 24, 2020

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WeedMD Inc (OTCMKTS:WDDMF) will submit the financial statements for Q2 2020 on September 24, 2020, within the 45 days window offered by the regulator. The auditors of WeedMD requested additional time to prepare and submit the results because of the ongoing coronavirus pandemic.

Signs a commercial arrangement with Fire & Flower

WeedMD entered a commercial pact with Fire & Flower for the manufacture of CBD cannabis products. As per the terms of the pact, WeedMD will produce, package, and transport Revity CBD products of Fire & Flower to the Saskatchewan provinces. The new products will hit the shelves of the retailer on August 14, 2020.

WeedMD will produce Revity CBD products at its most sophisticated extraction center – CX Industries, using its biomass. CEO of WeedMD, Angelo Tsebelis, said the company is excited to bag the contract order from Fire & Flower to produce Revity CBD products. It is the first commercial arrangement in Canada, and the company looks forward to working on this prestigious contract with Fire & Flower in its endeavor to introduce new products and enter strategic markets.

Angelo said the company intends to maintain a healthy longterm relationship with Fire & Flower by producing high-quality products using trichome rich biomass at its CX extraction hub. CEO of Fire & Flower, Trevor Fencott, said the company is excited to introduce its wellness-focused products to the underserved CBD markets.

Angelo further said WeedMD has an excellent track record in the production of high-quality products and leading innovation. After the initial launch in Saskatchewan, the Revity brand will be expanded nationwide.

Exclusive license accord to manufacture wellness products

WeedMD inked an exclusive license accord to manufacture Mary’s Medicinals wellness products. Under the terms of the deal with MM Technology Holdings, LLC, which holds Mary’s Medicinals product line and Mary’s brand, WeedMD will work as an exclusive partner for the production of Mary’s Medicinals products using its biomass at CX extraction center.

WeedMD will engage in the sale and distribution of Mary’s Medicinals’ products in Canada for medical use and adult use. CEO of Mary’s Brands, Jacques Panis, said the company is excited to partner with WeedMD to expand its Medicinals brands into Canada.

WeedMD posted revenues of $12 million in Q1 2020. It is driven by customer acquisition initiatives, Color Cannabis Brand recognition, and significant sales of biomass cultivated outdoors.

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Planet 13 Holdings Inc (OTCMKTS:PLNHF) Reports A Drop Of 34.9% In Q2 2020 Revenues

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Planet 13 Holdings Inc (OTCMKTS:PLNHF) posted a decline of 34.9% YoY to $10.8 million in Q2 2020. It also reported a drop of 51.54% in gross profits to $4.7 million in Q2 2020. The company reduced the operational expenses by 18.5% to $5.8 million.

Preserves capital and adds new customers

Co-CEO of Planet 13, Larry Scheffler, said all the Nevada businesses faced challenges in Q2 2020. Despite the challenges, the Planet 13 put in significant efforts to preserve the capital and add new clients in Q2 2020.  After the states are reopened, Planet 13 gained momentum and reported better sales in July and August 2020.

Brands sales at superstores

Co-CEO of Planet 13, Bob Groesbeck, said its brands are performing well and posted a 28.5% increase in sales at superstores in Q2 2020 compared to 14% in Q2 2019. The company expects to post higher sales of brands going forward because it has expanded the cultivation to supply its popular Medizin line.

Planet 13 is also enjoying success in the wholesale space after it commenced the supply in June 2020. The customers can buy its products across 33 Nevada based dispensaries. Its top-performing SKUs include concentrates, edibles, and beverages.

Begins upward journey

Planet 13 posted monthly revenues of $7 million in July and August 2020. The company will soon inaugurate Medizin dispensary and Santa Ana next year.

Planet 13 implemented operational enhancement in Las Vegas. It is helping the company for higher conversion of visitors into potential customers. The company also made improvements at the Superstore to attract residents in Las Vegas.

Planet 13 generated revenues of $1.7 million in July 2020 from curbside pickup and delivery. It represents 17% of the overall sales.

Planet 13 also strengthened its cash balance to $22.7 million. Its total assets also increased to $81.9 million. The company acquired Santa Ana on May 21, 2020. It also mobilized CAD 11.5 million through bought deal offering on July 13, 2020.

Planet 13 took over 45,000 Sq.Ft. indoor cultivation on July 17, 2020. It also received a dispensary license in Nevada on August 10, 2020.

The vertically integrated cannabis company based in Nevada – Planet 13 engages in manufacturing, cultivation, and dispensary operations, mainly in Las Vegas.

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Medical Marijuana Inc (OTCMKTS:MJNA) Sells Over 1.6 Billion Hemp Derived Cannabidiol As Consumers Prefer CBD Oil

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Medical Marijuana Inc (OTCMKTS:MJNA) achieved a significant milestone of selling over $1.6 billion mg of CBD. It is on the backdrop of an increased percentage of consumers preferring CBD oil during the ongoing coronavirus. Around 15% of consumers intend to use a higher dosage of cannabidiol.

Real Scientific Hemp Oil

Dr. Stuart Titus, CEO of Medical Marijuana, said the company supplied Real Scientific Hemp Oil, an oral version of high potency cannabidiol, for 10 years. According to the global media coverage, several customers across the world demonstrated positive experiences in using its products for almost 5 years.

Satisfies high consumer demand for CBD oil

Stuart further said several other products that are sold as hemp-based products do not contain cannabidiol. They are just a CBD isolate. Medical Marijuana is committed to delivering high-quality cannabidiol oil and satisfying consumer demand.

CBD products are popular among Americans. Around 33% of people in the US have used cannabidiol products at least once in their life. Blake Schroeder, COO of Medical Marijuana, said CBD derived products and cannabidiol products are now part of everyone’s life in the US to maintain wellness.

Stuart features in Reuters

Stuart featured in Reuters, a global financial news hub, on August 11, 2020, and discussed the present landscape of M&A (mergers and acquisitions) in the cannabis space.

An article in Reuters provided an insight into how the cannabis companies fare after the coronavirus, which boosted demand for cannabis. According to Stuart, the cannabis industries celebrate financial success at these difficult times. The same trend expects to continue for some more months before M&A takes place in the industry.

On the expectation of legalization of cannabis in the US after November 2020, the presidential election, the cannabis retailers are busy finalizing the deals. A cautious approach is expected in spending the funds in the aftermath.

Stuart further stated the company engages in developing sales strategies to maintain profitability and exploring new opportunities for enhancing its product line.

Promotions of top-level executives

Medical Marijuana promoted Todd Morrow as CFIO (Chief Financial and Information Officer). It also improved morale by promoting Michelle Sides, Esq. as CLO.

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