Chemesis International Inc. (OTCQB: CADMF) (CSE: CSI), announces its subsidiary Natural Ventures will enter the CBD market. The U.S. CBD market could surge to $845 million by 2019, and over $2 billion by 20221. With the passing of the 2018 Farm Bill the federal CBD market will allow U.S. territories such as Puerto Rico to ship its hemp derived products across state lines and into markets across the US.
Natural Ventures has begun cultivating high potency CBD strains, and anticipates full production capabilities by Q2 2019. The Company was able to crossbreed genetics which allowed for an increased CBD concentration and the seed strains have been fully registered with the Puerto Rican Health Department. Furthermore, the subsidiary holds all necessary licenses to cultivate and manufacture hemp derived finish goods.
With infrastructure already in place, Natural Ventures will be able to effectively add CBD products alongside its currently available finished goods. The Company anticipates the roll out of products into dispensaries across Puerto Rico by Q2 2019. Initial products will include tinctures, balms, vape pens and sprays.
“Patients in Puerto Rico know and trust the Natural Ventures brand,” said CEO, Edgar Montero. “The Company believes this relationship with patients will give us a head start and allow us to enter the CBD market effectively and our existing relationships will ensure we are able to quickly get our products on the shelves of dispensaries around the island.”