Global CBD Sales Expected to Grow to $22 Billion by 2022

Financialnewsmedia.com News Commentary

PALM BEACH, Florida, July 29, 2019 /PRNewswire/ -- It's no secret the cannabis market is booming globally. By 2023, The Marijuana Business Factbook projects that total retail cannabis sales in the U.S. could reach between $25 billion and $30 billion annually. In addition, according to the Brightfield Group, worldwide CBD sales are expected to soar from $591 million in 2018 to as high as $22 billion by 2022 – a compound growth rate of 147%. Better, many more Americans are becoming very comfortable with cannabis and CBD legalization, which could fuel a sizable, multi-year boom. That's opening a wide range of opportunity for companies including Naturally Splendid Enterprises Ltd. (TSX-V: NSP) (OTCQB: NSPDF), Charlotte's Web Holdings Inc. (CSE: CWEB) (OTCQX: CWBHF), The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (OTCQX: TGODF), Aphria Inc. (NYSE: APHA) (TSX: APHA), and Canopy Growth Corporation (NYSE: CGC) (TSX: WEED).

Naturally Splendid Enterprises Ltd. (TSX-V: NSP) (OTCQB: NSPDF) BREAKING NEWS: Naturally Splendid Enterprises Ltd. just announced the most recent upgrades to the Company's manufacturing and distribution facility are completed and the designation of Safe Quality Food (SQF) Level 2 Certification has been successfully attained. Earlier, the Company announced being 'SQF Level 2 Compliant' while awaiting on-site, independent, third-party evaluation. Naturally Splendid is pleased to now report, that after passing their independent, on site third-party audit, the Company has reached the prestigious designation of Safe Quality Food Level 2 Certification. In 2018, the Company allocated essential investment capital to acquire additional manufacturing equipment to upgrade its facility to SQF Level 2 Certification and build an R&D test kitchen, thus expanding production capabilities. The purpose of securing SQF Level 2 Certification links directly to the expanded opportunities afforded the Company that unaccredited facilities are not compliant to produce for.

Naturally Splendid Executive VP of Operations Mr. Bryan Carson reports, "Attaining SQF Level 2 Certification announces to the food industry, that Naturally Splendid has invested in the necessary infrastructure to ensure our clients are receiving the best and safest products possible. We are already benefitting from attaining this certification by attracting additional contract manufacturing clients and are now manufacturing seven days a week at our facility with plans to add a second shift to keep up with purchase orders."

Other cannabis-related developments from around the markets include:

Charlotte's Web Holdings Inc. (CSE: CWEB) (OTCQX: CWBHF) entered into a research initiative with Rodale Institute and Natural Care to pioneer regenerative organic hemp farming. The research will be conducted at Pocono Organics, a start-up regenerative organic farm in Long Pond, Pennsylvania. In alignment with its corporate social responsibility values, Charlotte's Web has been active in responsible farming practices since 2016. As people become increasingly aware of the benefits of organic and regenerative agriculture for their own health and the health of the planet, Charlotte's Web is partnering with Rodale Institute, the global leader in regenerative organic agriculture, to advance the development of healthy agriculture practices for the burgeoning hemp industry. Natural Care, one of the largest and only regenerative organic hemp research and cultivation operations in the country, is funding the multi-year research initiative. In collaboration with Rodale Institute, Natural Care will oversee and host the research at the Pocono Organics farm. "We're very proud to be an active partner supporting this research, which aims to bring regenerative agriculture to hemp in this region of the country, through our collaboration with Rodale Institute, Natural Care, and Pocono Organics," said Deanie Elsner, CEO of Charlotte's Web. "As the industry leader, Charlotte's Web aims to continually raise the bar for responsible hemp farming practices. It is our intent that the data from this research will support furthering sustainability for hemp farming."

The Green Organic Dutchman Holdings Ltd. (TSX: TGOD) (OTCQX: TGODF) announced that its flagship Valleyfield, QC facility has received its organic certification from Pro-Cert, an internationally recognized leader in organic certification. Once completed, TGOD's Valleyfield facility is going to be the world's largest organic cannabis facility at over 1.3 million square feet. This Pro-Cert recognition adds another certification to the Company's portfolio, in addition to TGOD's already certified organic growing facilities in Canada and Europe, and shows TGOD's commitment to cement its position as the leading organic cannabis brand globally. "It's exciting to reach new milestones as we begin commercial production. Growing certified organic cannabis at scale is a highly complex process which has taken time, great care and extensive research to refine. Each of our facilities goes through a robust certification process, in line with the high standards we have set, ensuring operational excellence at all stages," commented Brian Athaide, CEO of TGOD. "The proprietary methods our team has developed leverage the benefits of growing in living soil and guarantees the organic integrity of the products throughout the entire production chain."

Aphria Inc. (NYSE: APHA) (TSX: APHA) announced the launch of its new social impact platform, Plant Positivity. Championing the incredible power that plants have in overall well-being and providing greater access to green spaces for communities, Plant Positivity will be a new component of Aphria's existing Corporate Social Responsibility strategy, which will continue to deliver on the Company's commitment to give back to both people and the planet. The platform will be brought to life through three interconnected pillars – Plant Education, Plant Access, and Plant Impact. In 2019, Plant Positivity is partnering with the national not-for-profit Evergreen to create six new garden spaces this summer – the Plant Positivity Gardens – at the national headquarters, Evergreen Brick Works in Toronto. Aphria's investment will add more than 50 varieties of native plant species to the existing 8,000-square-metres of gardens across the site, a global showcase for sustainability and urban innovation that opened in 2010. Plans are also underway to develop a Plant Positivity Garden in Leamington, Ontario with a local community partner. "Finding ways to give back and fostering stronger, healthier communities everywhere Aphria operates is the core of who we are," said Irwin D. Simon, Interim CEO, Aphria Inc. "Countless studies have shown that increased exposure to plants and green spaces contributes to overall well-being. Through our Plant Positivity Gardens at the Evergreen Brick Works, we hope to make a meaningful impact on people's lives."

Canopy Growth Corporation (NYSE: CGC) (TSX: WEED) will publicly unveil its Hemp Industrial Park on Pine Camp Drive in Kirkwood, Broome County on Monday, July 29th at 10:30 AM. To mark the occasion, we are hosting an event with Canopy Growth executives and Government Officials.  Media are invited to join Canopy Growth President Rade Kovacevic, Canopy Growth Chief Advocacy Officer Hilary Black, Senate Minority Leader Chuck Schumer (NY), Department of Agriculture and Markets Commissioner, Richard Ball (NY), New York State Senator Fred Akshar, State Assemblywoman Donna Lupardo, Broome County Executive Jason Garnar, Kirkwood Town Supervisor Gordon Kniffen, and a representative from Congressman Brindisi's staff as they deliver remarks and take questions from media and guests.

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