Neutra Corp (OTCMKTS:NTRR) is planning to support its vertical integration campaign with the fresh round of private equity. It will use the funds to become a vertically integrated producer and distributor of the hemp-derived CBD health products.
Private equity to support accomplishments in 2020
Chief Executive Officer of Neutra, Sydney Jim, said the private equity received on January 1, 2020, is a welcome sign for the company to strengthen its long term position and compete and achieve success. The company will use the funds to pursue its goals and strategies. It enjoyed successful 2019 and hopes to maintain better accomplishments in 2020 with the fresh round of private equity.
CBD offers a variety of medical benefits
The multi-purpose and natural hemp compound offers a variety of medical benefits. According to the feedback from users, it offers relief from reduced effects of seizures, anxiety, and slows down in neurodegenerative disorders. It also provides relief from pain and alleviates the side effects of certain cancer treatments. Users do not suffer from any form of addiction.
The market for hemp-derived products expects to touch $22 billion by the year 2022. It is on the backdrop of improved health benefits enjoyed by the users of CBD. The sales of CBD last year are $390 million.
Neutra gets a boost from TDA’s administrative rules
Neutra is almost closer to realize its dream of becoming a vertically integrated company because the administrative rules framed by the Texas administration regarding the production of hemp are public comments stage. On adoption of these rules, the Texas Administration (TDA) still needs to get the nod of USDA (the US Department of Agriculture) to issue licenses for growing hemp.
TDA expects to process the license applications in H1 2020. Neutra will grow its hemp on receipt of the license. The company will use the grown hemp for the production of CBD products and distribute them under one roof. Sydney said it is a big development. The demand for hemp-derived CBD products in Texas is huge. It is economical to produce hemp in the state. The company will also benefit from logistics. Combined gives Neutra a solid footprint in the southern US.
WeedMD Inc (OTCMKTS:WDDMF) Signs A Pact With Fire & Flower To Manufacture CBD Cannabis Products: Will Announce Q2 2020 Revenues On September 24, 2020
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.
Planet 13 Holdings Inc (OTCMKTS:PLNHF) Reports A Drop Of 34.9% In Q2 2020 Revenues
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.
Medical Marijuana Inc (OTCMKTS:MJNA) Sells Over 1.6 Billion Hemp Derived Cannabidiol As Consumers Prefer CBD Oil
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.