Consumers Look for Therapeutic Alternatives During Stressful Times – PR Newswire UK

0

NEW YORK, May 12, 2020 /PRNewswire/ — The legal cannabis industry continues to grow around the world thanks to continuous legislative achievements in North America and Europe. Specifically, legalization of medical cannabis and its decriminalization in some countries has led to a noteworthy decrease in black-market activity, as people are shifting to legally purchasing cannabis for their medical as well as recreational use. Cannabidiol-based (CBD) products have also swiftly emerged and with their growing popularity, CBD is largely credited to various medical applications that are associated with these products. For example, full-spectrum CBD oil is considered to be a great source of Omega 3 and Omega 6; Omega 3 plays a vital role in creating hormones that regulate inflammation as well as contractions and relaxation of arteries. Overall, data by Grand View Research indicates that the medical segment held the dominant revenue share of the cannabis market, accounting for 71.0% in 2019. However, medical use of marijuana is strictly categorized as a medicine prescribed by a physician and the distribution of these medicines is regulated by the government. World High Life Plc (OTC: WRHLF), Pyxus International, Inc. (NYSE: PYX), 22nd Century Group, Inc. (NYSE: XXII), Auxly Cannabis Group Inc. (OTC: CBWTF) (TSX-V: XLY), Village Farms International, Inc. (NASDAQ: VFF) (TSX: VFF).

The U.S. Food and Drug Administration famously approved Epidiolex, the first FDA-backed cannabis-based drug. However, the FDA also made clear that additional research is required in order to advance with more approvals. Notably, the Administration has since held numerous public hearings in order to further understand the efficacy of CBD. And while only one cannabis-based drug has been approved, the efforts of the FDA highlight that CBD is having a significant medical progression. Additionally, many industry experts believe that CBD could potentially become a medical breakthrough that could replace dozens of different traditional drugs on the market. “While those in the industry, medical professionals and the public all seem to be in favour of CBD as a medical product, the stringent regulatory barriers in place before any product can be fully licensed require, quite rightly, extensive testing and trials,” said Dr. David Dawit, Chief Scientific Officer at Eos Scientific, according to PositiveHealthOnline. “The future of CBD looks incredibly promising.”

World High Life Plc (OTCQB: WRHLF), the AQSE and OTCQB listed investment company, announced last week breaking news that it is, “pleased to provide an update on the progress of its wholly owned subsidiary, Love Hemp, during the global Covid-19 pandemic.

Love Hemp is passionate about creating the UK’s leading range of trusted CBD products, with new product development at the heart of the brand. Love Hemp was the first company to produce functional spring water in the UK infused with CBD. Oils, sprays, vapes, chocolate, jelly domes and beauty products including its innovative CBD infused face mask and body salves have all followed. In response to current challenges, Love Hemp has shifted its focus, building on the opportunity to achieve stronger online sales, achieving a 39% increase month-on-month since January 2020, whilst expanding its offerings to meet consumer demand.

Corporate Highlights

  • The Love Hemp brand (www.love-hemp.com) has increased online sales by 39% month over month since January 2020
  • The brand has secured a number of notable listings with leading retailers including Boots, to complement its existing listings with Ocado, Holland and Barrett and Sainsbury’s
  • According to Alliance Healthcare, the UK’s leading distributor to Pharmacies and Independent Retailers, the Love Hemp brand is now its best-selling CBD brand
  • The brand is in negotiations with some of the UKs’ largest retailers for multiple new product listings from September 2020
  • To support growing demand and sales, Love Hemp’s secondary online retailer, CBDOilsUK (www.cbdoilsuk.com), is expanding its product portfolio with three new brands and a renewed web presence in the near future
  • LH Botanicals (www.lhbotanicals.com), Love Hemp’s CBD wholesale production business, is adding production capacity and new product lines with the acquisition of new machines

Having secured a number of notable listings with leading retailers including Boots, Ocado, Holland and Barrett and Sainsbury’s, as well as being recognized on the list of Best CBD Oil Brands in the UK by the Evening Standard in August 2019, Love Hemp also won the best CBD Brand in The Beauty Shortlist Awards 2020.

New product development is at the heart of the business, with Love Hemp Immune launching in April 2020, more than six-months ahead of schedule, highlighting the brand’s ability to be flexible and agile, whilst responding to consumer needs amidst the current circumstances. There is also a range of new products in development ranging from confectionary to drinks, oils and sprays. Brand renewal work carried out by external marketing partners, Propaganda, will be live in retail stores and online from October 2020.

Additionally, the company’s online retailer, CBDOilsUK, is expanding its product portfolio with the launch of three brands within the next two months, whilst its wholesale production unit, LH Botanicals, is committed to fully supporting customers through this challenging time and has increased production capacity with the acquisition of new capsule and bath bomb production machines.

Tony Calamita, CEO at Love Hemp commented: ‘There’s no question that the challenges businesses across the world are facing currently are unique. Whilst bricks and mortar stores have either closed or experienced less foot traffic and reduced hours, it has highlighted the need for us to have a robust online presence in order to keep people engaged with our brands and products. We have expanded our online offerings and are committed to continuing to provide the best experience for our customers, so they are able to continue to purchase and engage with us in an efficient way, with minimal disruption. Fortunately, consumer demand for our products is growing and we have adapted, thanks to a great team effort, to be able to grow the business under new circumstances, expanding our e-commerce presence and education marketing, which will be the foundations of our model going forward.’

For our latest “Buzz on the Street” Show featuring World High Life Plc. recent corporate news, please head over to: https://www.youtube.com/watch?v=0hk5omSP1lE

Pyxus International, Inc. (NYSE: PYX) announce earlier this year that its wholly-owned indirect subsidiary, Figr Brands, Inc., had launched a line of THC vape products in the Canadian marketplace. The line includes a vaping device and pods designed exclusively for the device. The launch of the product line follows the phase two implementation of Canada’s recreational cannabis legalization process, frequently referenced as Cannabis 2.0. “The Canadian government’s green light for derivative cannabis products, including vape, presents the opportunity for Figr to progress its product diversification in order to meet the growing demand for high-quality, adult-use cannabis products,” said Pyxus President, CEO and Chairman Pieter Sikkel. “The launch of Figr’s new products is particularly timely, as the company continues to expand its footprint across Canada.”

22nd Century Group, Inc. (NYSE: XXII) announced last year, the initial closing of an investment in Panacea Life Sciences, Inc. (Panacea), a rapidly-growing, vertically-integrated, consumer-facing company operating exclusively in the legal, hemp-derived, CBD product space. 22nd Century’s investments in Panacea over the next twelve to eighteen months are expected to total USD 24 Million, in a combination of cash and 22nd Century stock in exchange for Panacea-issued debt and preferred equity. 22nd Century has also received a warrant to purchase preferred stock of Panacea, which upon full exercise will provide 22nd Century with a controlling equity position in Panacea. “After a disciplined and thorough review of the opportunities available to 22nd Century to maximize shareholder value creation, we are pleased to announce the Company’s first investment in the legal, hemp/cannabis, consumer packaged goods space,” said Cliff Fleet, President and Chief Executive Officer of 22nd Century Group. “This investment is a major milestone in 22nd Century’s on-going execution of our hemp/cannabis strategic growth plan and offers the opportunity for strong projected shareholder returns.

Auxly Cannabis Group Inc. (OTCQX: CBWTF) (TSX-V: XLY) announced recently that its wholly-owned subsidiary Dosecann LD Inc. (“Dosecann”) has entered into an agreement with Medical Cannabis by Shoppers Drug Mart Inc. (“Shoppers”), a subsidiary of Shoppers Drug Mart Inc., to become a supplier of cannabis products through its online platform. The agreement will see Auxly’s suite of products and brands, including chewables, chocolates, vapes and oil in a bottle, all developed and manufactured at Dosecann, available to consumers across Canada. Dosecann has completed its initial shipment of cannabis products to Shoppers. “Having our diverse cannabis product offering with Shoppers allows us to reach a wide group of patients across the country with our quality, science-backed products,” said Hugo Alves, CEO of Auxly. “We are proud to partner with Shoppers and look forward to bringing their customers our products, built on Dosecann’s pillars of quality, safety and efficacy.”

Village Farms International, Inc. (NASDAQ: VFF) (TSX: VFF) announced its majority-owned joint venture for large-scale, low-cost, high-quality cannabis production, Pure Sunfarms, has expanded its credit facility with its existing lender to USD 59 Million, including accordion provisions of USD 22.5 Million.  The expanded credit facility (the “Credit Facility”) consists of a USD 7.5 Million revolving operating loan (the “Revolver”) and a USD 10 Million term loan (the “New Term Loan”), in addition to its existing USD 19 Million term loan (the “Existing Term Loan”).  The New Term Loan is specifically designated for the 1.1 million sq. ft. Delta 2 greenhouse while the Existing Term Loan is specifically designated for the 1.1 million sq. ft Delta 3 greenhouse facility.  (All figures are in Canadian dollars.)

Subscribe Now! Watch us report LIVE https://www.youtube.com/FinancialBuzzMedia

Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz

Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz

Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/

About FinancialBuzz.com 

FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com  (the “site”) is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. FinancialBuzz.com has not been compensated directly by any of the companies mentioned here in this editorial unless mentioned otherwise. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For World High Life Plc financial and corporate news dissemination, FinancialBuzz.com has been compensated five thousand dollars by the company. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please visit: http://www.FinancialBuzz.com.

Media Contact:
info@financialbuzz.com

+1-877-601-1879

www.FinancialBuzz.com

SOURCE FinancialBuzz.com

This article originally appeared here in https://www.prnewswire.co.uk/news-releases/consumers-look-for-therapeutic-alternatives-during-stressful-times-817800422.html

Leave a Reply