The demand for CBD is off the charts. To date, major malls, Neiman Marcus, Sephora, Vitamin Shoppe, Kroger, Barney’s DSW, CVS, American Eagle, and Walgreen’s have all jumped at the opportunity. Dick’s Sporting Goods announced a deal to sell CBD products in its stores nationwide. Now, even Dollar General just announced it would sell CBD products thanks to consumer demand. In fact, it will sell 20 CBD products at 1,100 of its stores in Tennessee and Kentucky. In addition, there are plans to roll out CBD products in Colorado, Florida, Indiana, Oregon, South Carolina, Texas and Vermont by 2020. As excitement builds, it’s opening a range of opportunity for cannabis companies including The Yield Growth Corp. (CSE:BOSS) (OTC:BOSQF), Canopy Growth Corporation (TO:WEED) (NYSE:CGC), Curaleaf Holdings Inc. (CN:CURA) (OTC:CURLF), Aurora Cannabis Inc. (NYSE:ACB)(TO:ACB), and Charlotte’s Web Holdings Inc. (OTC:CWBHF)(CN:CWEB).
The Yield Growth Corp. (CSE:BOSS)(OTCQB:BOSQF) BREAKING NEWS: The Yield Growth Corp. just announced that manufacturing is complete on 5 SKU’s of the Wright & Well THC and CBD product line. The products are expected to be available in retailers in Oregon in January 2020, capitalizing on the incredible opportunity presented by the U.S. market. A Statista forecast estimates a marijuana sales value of approximately 1 billion U.S. dollars annually in Oregon by 2023. Wright & Well, an Ayurveda-inspired collection of THC and CBD infused topicals and edibles, are uniquely formulated to help people move freely and live a thriving life. Using the highest-quality Cannabis Sativa (Hemp) Root Oil, crafted through an exclusive proprietary extraction process, Wright & Well’s product line has passed all regulatory requirements of the Oregon Liquor Control Commission (OLCC) and has completed control studies for five products.
Wright & Well is now available for order by retailers through licensed cannabis manufacturer and distributor Nova Paths, who has a distribution network of over 400 licensed cannabis retail stores throughout Oregon. These unique proprietary formulations are backed by years of Ayurvedic study and hands-on practice with chronic pain sufferers: “BE LOVED” Marijuana-infused Massage Oil, with Purple Hindu Kush Oil & CBD Isolate; “BE RELIEVED” Marijuana-infused Gel with Purple Hindu Kush & CBD Isolate; “BE FREE” Marijuana-infused Balm with Purple Hindu Kush and CBD Isolate; and “BE BETTER” Hemp CBD Tinctures in Regular Strength and Extra Strength. Familiar, sophisticated and thoughtful, the name Wright and Well is a homonym: when spoken, it is “Right and Well,” which evokes the idea of proper and healthy. “Wright” means “a maker of,” so Wright & Well also means “a maker of health.”
Other cannabis-related developments from around the markets include:
Canopy Growth Corporation (TO:WEED)(NYSE:CGC) just announced that effective January 14, 2020, David Klein has been appointed as the Company’s Chief Executive Officer. David brings a wealth of expertise to this role, having served in a number of senior leadership capacities over the past 14 years at Constellation Brands. His capabilities include extensive CPG and beverage alcohol industry experience, strong financial orientation, and experience operating in highly regulated markets in the U.S., Canada, Mexico and Europe. David is an experienced strategist with a deep understanding of how to build enduring consumer brands while leveraging operational scale across a dispersed production footprint. He is a strong leader with a proven track record of developing diverse and high performing teams. In his current role as executive vice president and chief financial officer at Constellation Brands, David oversees all aspects of the company’s finance operations, all mergers and acquisitions, as well as the company’s information technology function. He is widely respected among members of the U.S. investment community, earning recognition as a top CFO by Institutional Investor magazine the past three years. David serves as a member of Constellation Brands’ executive management committee. He has served on the Canopy Growth Board of Directors for over a year and is presently Canopy Growth’s Board Chair. This familiarity with the Company’s current leadership team and strategy will allow David to integrate quickly, a major benefit in the fast-moving cannabis sector.
Curaleaf Holdings Inc. (CN:CURA)(OTC:CURLF) announced that Joe Bayern will become President of Curaleaf Holdings, Inc., effective immediately. Bayern brings over 20 years of executive leadership experience in consumer packaged goods at a critically important moment in Curaleaf’s growth trajectory. He will report to Curaleaf Chief Executive Officer Joseph Lusardi. As President, Bayern will work closely with the senior executive team to lead the company and oversee its continued growth. Bayern will primarily be focused on driving operational excellence and executing on Curaleaf’s mission. Chief Executive Officer Joseph Lusardi will continue to oversee the strategic vision and operations of the company.
Aurora Cannabis Inc. (NYSE:ACB)(TO:ACB) announced that one of the Company’s oil products has now been approved for use under Ireland’s new Medical Cannabis Access Programme (MCAP). Aurora’s High CBD Oil Drops received approval from the Irish authorities and have now been added to a regulatory schedule by the Irish Minister of Health enabling importation, prescribing and supply under the scheme and is to date, one of only two products to gain such authorization. Dr. Shane Morris, Chief Product Officer at Aurora said, “Aurora is pleased to be able to assist patients who are seeking treatment with high quality EU-GMP (good manufacturing practice) certified pharmaceutical-grade medical cannabis in Ireland. We are very proud to be one of the first approved suppliers of medical cannabis under the MCAP. We want to acknowledge the efforts made by many people, especially the patients and doctors who have campaigned for access to these medicines. We look forward to more of Aurora’s high-quality medicines being approved, so that more patients can benefit from the MCAP in Ireland. We will continue to work closely with all parties and state agencies to facilitate further availability.”
Charlotte’s Web Holdings Inc. (OTC:CWBHF)(CN:CWEB) announced that it has closed its previously announced underwritten public offering for aggregate gross proceeds to the Company of C$66,250,000. A total of 5,000,000 units of the Company, at a price of C$13.25 per Unit were sold pursuant to the Offering. The Offering was led by Canaccord Genuity Corp., together with a syndicate of underwriters including Cormark Securities Inc., Eight Capital, and PI Financial Corp. Each Unit was comprised of one common share of the Company and one half of one common share purchase warrant. Each Warrant will be exercisable to acquire one common share for a period of 2 years following the closing date of the Offering at an exercise price of C$16.50 per Warrant Share, subject to adjustment in certain events. Charlottes Web has also granted the Underwriters an option to purchase up to 750,000 additional Units of the Company on the same terms as the Offering, exercisable within 30 days of the closing of the Offering. Net proceeds from the Offering will be used primarily to fund the Company’s business development and for general working capital purposes. The Units were offered in each of the provinces of Canada, other than Québec, pursuant to the Company’s base shelf prospectus dated April 8, and were also offered by way of private placement in the United States to “qualified institutional buyers”. The terms of the Offering are described in a prospectus supplement dated November 27, 2019.
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