FinancialBuzz.com’s latest Buzz on the Street Show: Featuring Our Corporate News Recap on “Newleaf Brands’ Wholly Owned Subsidiary We Are Kured, LLC Has Successfully Passed an Extensive Third Party Testing of Its Cannabidiol (CBD) Oil for Pesticides, Microbial and Heavy Metals.”
NewLeaf Brands Inc.’s (CSE: NLB) (OTC: NLBIF) (FSE: 0NF) wholly owned subsidiary We Are Kured, LLC (“Kured”), a Colorado based disposable vape pen and 510 cartridge company, announces that it has successfully passed an extensive testing of its CBD oil for pesticides, microbial and heavy metals completed by Botanacor Laboratories (“Botanacor”), a nationally recognized third party testing facility. Botanacor is the leading national industrial hemp and CBD testing laboratory which provides accurate, repeatable, and defensible testing data. The test results state that the following microbial were not detected in Kured’s CBD oil: aerobic plate count, coliforms, yeast and molds, Escherichia coli (E. coli) and salmonella. There was also zero detection of any pesticides or heavy metals.
NewLeaf Brands, Inc. is an innovative Cannabidiol lifestyle Company. Through the Company’s wholly-owned subsidiaries We are Kured, LLC, Drink Fresh Water, LLC, ReLyfe Brand, LLC and TeaLief Brand, LLC the Company’s main business activities encompass the development, marketing, and distribution of CBD products (including vaporizer pens/cartridges, hot/cold tea, softgel capsules and beverages) throughout North America, South America, and Europe. In addition, NewLeaf Brands, Inc. has extensive retail and cultivation land investments in Oregon, USA.
Following the emergence of the legal cannabis industry, the number of cannabis users steadily began to rise. Predominantly, most consumers are medical patients using cannabis to alleviate symptoms associated with cancer, HIV/AIDS, multiple sclerosis, and epilepsy. However, the recreational market is quickly outpacing the medical market in terms of overall revenue. Notably, U.S. states like California, Colorado, Nevada, and Washington are collectively delivering billions of dollars in annual revenue. And as the legal industry continues to expand, the four states are witnessing their sales grow. For instance, Colorado reported marijuana sales of USD 683.52 Million in 2014, which was the first year of legal recreational sales. To put that into perspective, during just the first half of 2019, Colorado reported sales of USD 984 Million. Overall, the state’s 2019 cannabis sales are already on track to surpass its 2018 total revenue of USD 1.54 Billion. The increasing sales are largely attributable to decriminalization efforts as well as research debunking common misconceptions about cannabis. And while the U.S. is the largest contributor to the global cannabis market, the country still has not yet federally legalized the plant. So far, the only two countries that have moved to legalize cannabis entirely are Canada and Uruguay. In particular, Canada’s market is positioned to become a global industry influencer as its cannabis market continues to mature. Canada’s second wave of legalization, which is expected to occur later in 2019, will legalize several types of cannabis products, including extracts, concentrates, and edibles. Overall, the second legalization is expected to draw in a large influx of new consumers, as well as drive additional sales from previously existing consumers. And as a result, the global legal marijuana market is expected to reach USD 146.4 Billion by 2025 while registering a CAGR of 34.6%, according to data compiled by Grand View Research.
The CBD market remains relatively small as opposed to the overall cannabis market. For instance, the U.S. cannabis market was valued at approximately USD 7.06 Billion in 2016 and is expected to grow at a CAGR of 24.9% throughout the forecast period from 2017 to 2025, according to Grand View Research. Nevertheless, the CBD marketplace is expected to witness exponential growth due to the recent passage of the Farm Bill. And although the CBD marketplace is still currently in its infancy stage, many large cannabis corporations and retailers are already investing into the market as it begins to take shape. Primarily, products such as tinctures, topicals, and capsules are in large demand because of their therapeutic effects, but other cannabis companies are also looking to leverage CBD for recreational purposes. In particular, the CBD edible and beverage segment is quickly gaining traction because consumers are ingesting products simply for relaxation. “On one hand, yes, it’s really surprising to see this young industry be at such huge numbers so quickly—and still kind of pulling itself together—and on the other side, I don’t think it’s a surprise at all, because it’s about time,” said Lex Pelger, Science Director at Bluebird Botanicals, said in an interview with Cannabis Dispensary. “With such a long human history of cannabis being an important plant, it makes sense that this is just exploding back onto the public consciousness like it does every couple decades.”
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