PALM BEACH, Florida, January 17, 2019 /PRNewswire/
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Posted On: 01/17/2019 11:15:52 AM
PALM BEACH, Florida, January 17, 2019 /PRNewswire/ --
Financialnewsmedia.com News Commentary
It is proving more and more that Cannabis based companies must think and act beyond the current day-to-day operations as well as focus on product development, strategic partnerships and gaining consumer trust. Especially as the rising demand of marijuana for recreational use and medical use is a key factor driving massive growth potentials. In fact, legal cannabis and the rising popularity of CBD infused products has started gaining traction worldwide due to very high demand among consumers and increasing legalization of recreational or medical marijuana in various countries. According to Grand View Research, the global legal marijuana market is expected to reach USD $146.4 billion by end of 2025. Grand View also believes that an increasing number of companies operating in the marijuana market are expected to bolster the quantity and variety of products reaching the end users. Advances in new product development are expected to enhance product adoption among consumers while the legal marijuana market is witnessing strong technological and information exchange.
MariMed Inc. (OTCQB:MRMD) closed up over 6% at $3.80 on Wednesday by the market close. The company a leading multi-state cannabis operator, yesterday announced the formation of MariMed Hemp, Inc., a wholly-owned subsidiary to be entirely focused on hemp-derived CBD products. MariMed Hemp will have a dedicated executive team, proprietary brand and product lines, and distribution and marketing relationships, all separate from MariMed's core cannabis business.
The subsidiary builds on MariMed's recent investment in GenCanna Global, a leader in high-quality, fully compliant hemp cultivation and processing which is acclaimed for its genetics, proprietary cultivation practices and best in class processing procedures that produce world class, GMP, quality CBD isolates and oils. GenCanna anticipates planting and processing over 10,000 acres of hemp in 2019, making it one of the nation's largest hemp producers and the key supplier of hemp CBD oil to MariMed Hemp.
"With the recent signing of the U.S. Farm Bill that declared hemp fully legal at the federal level, we believe the hemp CBD industry may grow even faster than the cannabis industry," said Robert Fireman, CEO of MariMed. "Consumers and retailers alike seek the highest quality, trustworthy products. While many niche players may try to compete, the reality is that only a handful of suppliers can reliably deliver top-quality CBD products at scale that can serve the needs of major retailers."
https://www.bizjournals.com/prnewswire/press_...1901174835
Financialnewsmedia.com News Commentary
It is proving more and more that Cannabis based companies must think and act beyond the current day-to-day operations as well as focus on product development, strategic partnerships and gaining consumer trust. Especially as the rising demand of marijuana for recreational use and medical use is a key factor driving massive growth potentials. In fact, legal cannabis and the rising popularity of CBD infused products has started gaining traction worldwide due to very high demand among consumers and increasing legalization of recreational or medical marijuana in various countries. According to Grand View Research, the global legal marijuana market is expected to reach USD $146.4 billion by end of 2025. Grand View also believes that an increasing number of companies operating in the marijuana market are expected to bolster the quantity and variety of products reaching the end users. Advances in new product development are expected to enhance product adoption among consumers while the legal marijuana market is witnessing strong technological and information exchange.
MariMed Inc. (OTCQB:MRMD) closed up over 6% at $3.80 on Wednesday by the market close. The company a leading multi-state cannabis operator, yesterday announced the formation of MariMed Hemp, Inc., a wholly-owned subsidiary to be entirely focused on hemp-derived CBD products. MariMed Hemp will have a dedicated executive team, proprietary brand and product lines, and distribution and marketing relationships, all separate from MariMed's core cannabis business.
The subsidiary builds on MariMed's recent investment in GenCanna Global, a leader in high-quality, fully compliant hemp cultivation and processing which is acclaimed for its genetics, proprietary cultivation practices and best in class processing procedures that produce world class, GMP, quality CBD isolates and oils. GenCanna anticipates planting and processing over 10,000 acres of hemp in 2019, making it one of the nation's largest hemp producers and the key supplier of hemp CBD oil to MariMed Hemp.
"With the recent signing of the U.S. Farm Bill that declared hemp fully legal at the federal level, we believe the hemp CBD industry may grow even faster than the cannabis industry," said Robert Fireman, CEO of MariMed. "Consumers and retailers alike seek the highest quality, trustworthy products. While many niche players may try to compete, the reality is that only a handful of suppliers can reliably deliver top-quality CBD products at scale that can serve the needs of major retailers."
https://www.bizjournals.com/prnewswire/press_...1901174835
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