Nearly 10% of Americans Will Use CBD by 2025, notes Cowen & Co.
Wednesday, March 20, 2019 9:00 AM
HOUSTON, TX / ACCESSWIRE / March 20, 2019 / Nearly 7% of Americans currently use CBD, according to Cowen & Co. analysts.
According to Cowen's January 2019 consumer survey of 2,500 adults, 6.9% of respondents are using CBD at the moment. ''This initial response piqued our interest considerably, as it was much higher than we would have suspected,'' they said, as quoted by the Press Herald.
By 2025, Cowen & Co. analysts believe CBD use will grow to 10% of Americans, which implies a potential $16 billion market opportunity.
Some of biggest beneficiaries of that potential include Crop Infrastructure Corp. (CSE: CROP) (OTC PINK: CRXPF), iAnthus Capital Holdings Inc. (CSE: IAN) (OTC: ITHUF), and Origin House (CSE: OH) (OTC: ORHOF).
Crop Infrastructure Corp. (CROP) (CRXPF) just announced updates on its Esmeralda County THC and Nye County CBD projects. Regarding the Esmerelda County THC project, trenching is underway with the first shipments of building blocks delivered on site for the construction of the 40-acre perimeter wall for the 2019 outdoor cannabis growing season.
With its Nye County Hemp CBD project, the ground development for the 50,000 square feet of propagation greenhouses is underway and is expected to be completed within the next two weeks. The Micropropagation Team, on site, has begun tissue culturing for task of completing 4,500,000 hemp starters. The company has placed a deposit on 2,000,000 hemp farm bill compliant feminized seeds with delivery expected next month. Nutrients and highly composted fertile soils have been layered over the projects entire 1,350 acres of planned 2019 cultivation. The company also received additional licensing permissions to operate a hemp nursery.
The company has also been working with a PhD in Chemistry / Post-Doctorate in molecular pharmacology and biophysics and several engineers to scale CROP's own solvent-free commercial scale extraction to handle the large amount of hemp biomass and cannabis forecast for the 2019 season. CROP has finalized designs and tender for a ~10 ton per 8-hour shift extraction equipment for its Nevada and Country wide labs.
For More Information on Crop Infrastructure Corp., Click Here.
iAnthus Capital Holdings Inc. (IAN) (ITHUF) recently announced it completed a private placement offering of $35 million of unsecured convertible notes and corresponding warrants to three investors. The proceeds from the offering will be applied to continue the build-out of facilities across the company's exposure in 11 states.
''With the closing of the transaction with MPX Bioceutical Corporation in early February, iAnthus remains driven to become a market leader across our 11-state platform. This financing allows the Company to simultaneously strengthen our balance sheet, deepen our investor base, and fund our growth capital,'' said CEO Hadley Ford.
For More Information on iAnthus Capital Holdings 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.
Except for the historical information presented herein, matters discussed in this article contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from aressed or implied by such statements. Winning Media which has a partnership with www.MarijuanaStox.com is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release.
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