HOUSTON, TX / ACCESSWIRE / March 13, 2019 / It's only a matter of time before more retailers wake up to the CBD opportunity.
DSW has been running tests in its stores with CBD, announcing plans to expand such products to nearly 100 stores. Neiman Marcus is pushing ahead with CBD sales at some of its stores and online. Simon Property Group is partnering with Green Growth Brands to open 108 stores in its malls just in 2019. Barney's is launching ''The High End.''
Now, even the CEO of Whole Foods has indicated he's keeping a close eye on cannabis regulation, suggesting that it could show up on shelves. '' If cannabis is ever passed in Texas,'' he said, as quoted by Leafly, ''chances are good that grocery stores will be selling that, too.''
Along the way, it's creating sizable sales opportunity for several companies, including The Yield Growth Corporation (CSE:BOSS) (OTCQB:BOSQF), Harvest Health & Recreation Inc. (CN:HARV) (OTCQX:HTHHF), and Origin House (CN:OH) (OTC:ORHOF).
The Yield Growth Corporation (BOSS) (BOSQF), for example, just announced that its subsidiary Yield Botanicals Inc. entered into an agreement with Vandenbosch Trading Company Ltd. to purchase a 10-acre property.
The purchase includes over 2.5 acres (approximately 100,000 square feet) of well-equipped and automated greenhouses, currently operating as an orchid flower grow and essential oil extraction business. The total price for the land, buildings, greenhouses and equipment is $2.4 million. Yield Growth has available cash on hand to complete the purchase.
This strategic asset purchase will allow Yield Growth to grow plants and build out extraction facilities in the existing infrastructure, while providing plenty of room for future expansion. Owning a farm will give Yield Growth complete control of key proprietary ingredients for its products, including hemp root oil. The purchase will also empower Yield Growth's in-house research capabilities for growth and innovation.
''We are delighted that we are buying a property to house our extraction facilities as well as potential cultivation of industrial hemp and other plants with therapeutic benefits,'' says Penny Green, CEO of Yield Growth. ''One of our initiatives will be to work with local farmers and scientists to develop hemp strains with heavy concentrations of cannabidiol (CBD) in parts of the hemp plant that are exempt from the Cannabis Act.''
For More Information on The Yield Growth Corporation (BOSS), Click Here.
Harvest Health & Recreation Inc. (HARV) (HTHHF), which recently began trading on the OTCQX is involved in the cultivation, processing and possession, use, sale and/or distribution of cannabis specific to the medical cannabis space.
Its goal is to become one of the largest cannabis players in the world. ''Harvest is one of the fastest growing companies in one of the fastest growing industries in the world, and OTCQX will allow us to continue harnessing that momentum. Working up the investor ladder as a cannabis company is a monumental task, and we are excited to continue making strides towards becoming the biggest cannabis brand in the world.,'' said CEO Steve White.
In addition, the company just entered into an agreement to acquire Verano Holdings, one of the largest privately held multi-state, vertically integrated licensed operators of cannabis facilities, in an all-stock transaction for an estimated price of $850 million. The combined company will be one of the largest multi-state operators in the U.S. Upon completion of the transaction and regulatory approval, Harvest will hold licenses that will allow it to operate up to 200 facilities in 16 states and territories across the country, including 123 retail dispensaries.
For More Information on Harvest Health & Recreation, Inc., Click Here.
Origin House (OH)(ORHOF) is one of the top distributors of cannabis products in California, distributing more than 130 brands to more than 70% of the cannabis dispensaries on the West Coast. It's also beginning to expand its own brand offerings, expecting to generate 50% of its revenue from branded products early this year.
The company just entered into a agreement to provide strategic financing of US$704,000 to Humboldt's Finest, an alliance of heritage cannabis farms representing Humboldt County . Humboldt's Finest produces sun-grown cannabis flower on their farms in Humboldt County, California , which is processed into products including jarred flower, pre-roll flower joints, live resin dabs/jars and/or live resin cartridges.
For More Information on Origin House, Click Here.
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