Medical Marijuana Inc. (OTCMKTS:MJNA) has announced that it has been granted authorization to sell its hemp derived CBD products in Bulgaria.
Medical Marijuana receives authorization for CBD products in Bulgaria
Blake Schroeder the CEO of Kannaway stated that they are delighted to continue paving the way for CBD acceptance in Bulgaria to follow suit with what is happening in the rest of the world. The CEO added that following the authorization they were hoping to position themselves in the Bulgarian market and become leaders in CBD education across Europe.
The authorization means that Kannaway’s goods will be freely sold in Bulgaria and they are equally approved for export. Kannaway VP Alex Grapov said that the company was looking forward to trailblazing the global CBD market as advocates of its benefits. He added that they have met with regulatory bodies to makes sure that the company’s operations are within the purview of the law thus creating an avenue for customers and brand ambassadors.
Publication of CBD research on CIPN in Molecular Sciences Journal
Last week Medical Marijuana announced that its portfolio company Kannalife Inc. (OTCMKTS: KLFE) had published its findings on Chemotherapy-Induced Peripheral Neuropathy in the Molecular Neuroscience Journal. Market Study Report LLC has indicated that the international market for CIPN treatment is expected to exceed $1.88 billion by 2024. Kannalife expects clinical trials for its CBD-like molecule KLS-13019 as a therapeutic treatment for CIPN to commence in the second quarter of 2020.
Medical Marijuana CEO Stuart Titus said that CIPN affects around 30% to 405 of patients undergoing chemotherapy adding that they were pleased to support Kannalife in its research to discover a treatment alternative for such patients.
Kannalife was funded by the National Institute on Drug Abuse to work on the research. The grant permits the research in the development of KLS-13019 in CIPN and drug dependence. Kannalife has the obligation to study important advancements that involve identification of the mechanisms that bring CIPN and the application o0f study results in designing on novel treatment approaches for neuropathic pain and use of the approaches in reducing opioid prescription and opioid abuse.
Health Canada Grants Approval For 27 Acres Of Outdoor Cultivation Facility Of WeedMD Inc (OTCMKTS:WDDMF)
Health Canada has granted approval for the low cost, outdoor cultivation facility (spans 27 acres) of WeedMD Inc (OTCMKTS:WDDMF). In early June 2019, the company expects to begin the planting of over 20,000 clones on this low-cost, Strathroy, Ontario based property. It plans to harvest in the fall. The new facility adds additional 27,000 Kgs of output.
Annual cannabis out of 150,000 Kgs
WeedMD would produce an annual cannabis output of 150,000 Kgs by next year from both outdoor and indoor production spanning an area of 5.2 million Sq. Ft. With this, WeedMD becomes one of the biggest cannabis producers in Canada.
Chief Executive Officer of WeedMD, Keith Merker said the company’s ability to scale up production together with its expertise in producing proprietary genetics in the outdoor space positions WeedMD as the first mover in the cannabis industry. The license from Health Canada is the final piece of its outdoor cultivation plan.
Cultivation/ production strategy outdoor
WeedMD intends to produce cannabis on 100 acres property as part of the phase II in 2020. It has already secured municipal approval. The company already completed the infrastructure including the building of irrigation, security, and fencing within the budget of $2 million. It has obtained amended license from Health Canada.
WeedMD has got organically certified 27 acres of soil for phase I, which is newly licensed. The company has outdoor cultivation facility just adjacent to the existing greenhouse facility. It has necessary human resources and infrastructure at the site.
The cultivation team of WeedMD has proven cannabis cultivation experience outdoor. It has already selected the suitable strains for growing outdoor in Ontario. The company has over 20,000 clones already in organic material and ready for planting.
Kona Gold Solutions Inc (OTCMKTS:KGKG) Expanding Footprints to Georgia With Savanna Distributing Company Deal
The Savanna Deal
Kona Gold Solutions Inc (OTCMKTS:KGKG) is making good on its strategic expansion plans having secured a potentially lucrative distribution agreement with Georgia’s veteran beverages distributor, Savannah Distributing Company. Over its 75 years of operation, Savannah has established a rich distribution network in Georgia that appeals to any premium beverage manufacturer.
The distributing powerhouse already placed the first order for Kona’ premium energy drinks. Savanna is famed for pushing several local and exotic brands including popular wines and world-class champagne in the Georgian market. The company is connected to the leading retailers in the region and has proven effective in launching new products to the market.
Kona’s CEO, Robert Clark expressed his excitement in the company’s largest distribution agreement to-date. Savanna is hoped to help the company establish footprints across the Southeast in line with its strategy to build a strong presence in the lucrative American market.
27 more distribution partners
Over the past 6 months, the company has managed to secure over 27 high-profile distributors including Anheuser-Busch among others. With multiple distributors pushing the company’s brands from their respective territories, Kona will be on course to meet its optimistic annual revenue outlook of $1.5 million and $2 million.
The company posted sales of $272,000 in the first quarter with projections for the second quarter set at $400,000. As of April, sales were off to a promising start of $180,000 indicating the company’s commitment to beating its quarterly projection.
Aside from securing meaningful strategic distribution partners, Kona Gold Solution is actively working on its product portfolio with new additions scheduled to be launched in the near future. The company is lining up additional flavors expected to hit the market in the course of 2019. For instance, Kona will launch its CBD-infused alkaline water the next quarter. The company’s existing distributors have agreed to launch the much-anticipated product in their respective markets.
Following demand for its products, Kona leased an additional 30,000sqft of warehouse space in South Carolina. The warehouse is expected to be the company’s distribution hub for all its products as shipping lanes out of Melbourne have proven uneconomical.
Vapor Group Inc (OTCMKTS:VPOR) Business Model Paying Off As Orders for Isolate CBD Stream In
Vapor Group Inc (OTCMKTS:VPOR) is evidently having a spectacular run following the adoption of a new business model early this year focused on the lucrative CBD industry estimated to be worth well over $16 billion. The company recently secured $80,000 order for its premium CBD isolate bringing the total tally of orders to $600,000 this year alone.
$500,000 in under 3 months
As of April this year, the company had reportedly secured orders totaling about $500,000. In its Q1 2019 earnings, VPOR reported a number of high-profile business deals from reputable names in the industry including White Label liquid and GenCanna global, Inc among others. The company’s biggest purchase order thus far came in May when industry titan, Diamond CBD owned by potNetwork holdings placed a hefty $210,000 order for its bulk CBD isolate.
Vapor bills itself as the provider of industry grade CBD isolate famed for its high potency and purity. The product is developed in the company’s state-of-art manufacturing facilities that utilize sophisticated nanotechnology to deliver a premium end product sought after by industry leaders. The trickling enormous purchase orders are testimony of the product’s unparalleled effectiveness.
The company’s products are manufactured from 100% organic hemp sourced from the best growers in the United States from the states of Colorado, Kentucky, and Oregon. VPOR is constantly researching and experimenting on new processing methods and techniques to stay at par with the industry’s dynamic trends.
VPOR’s President and CEO, David Zinger is confident that the company is on course to becoming the premium suppliers of industry-level CBD isolate. Zinger credits the company’s success to over the past few months to “smart planning and strategizing.” Further, he is optimistic that with the continued sustainable growth, the will be able to provide long-term value to their stakeholders.
Positive trends witnessed in the CBD industry points to a lucrative future for players in the sector including Vapor. Reportedly, 7% of Americans are using CBD products now with the number expected to spike by 10% come 2025.