With the DEA Easing up Lucrative CBD Market set to Explode as Consumers Turn to CBD Medical Solutions
PALM BEACH, Florida, October 3, 2018 /PRNewswire/ --
Financialnewsmedia.com News Commentary
One of the more apparent emerging trends in the medical community is the increasing experimentation with CBD-based products and treatments as consumers are more open to alternative solutions to common diseases and ailments. The cannabis market has proven to be explosive and filled with opportunity for strong revenue streams and the CBD segment has perhaps emerged as the strongest portion of the overall market. And things are looking up as the Drug Enforcement Administration has reclassified some CBD products from Schedule I to Schedule V. CBD, or cannabidiol. The change in classification is the result of the Food and Drug Administration approving a CBD-based epilepsy which is a landmark change in the US government's stance on cannabis. After being green lighted as the first federally approved cannabis-based medication at the end of June, the drug has triggered the nation's top drug enforcer to change how it regulates marijuana. It's the first time in 46 years that the agency has shifted its stance on a marijuana compound. Active cannabis companies in the markets this week include Earth Science Tech, Inc. (OTC:ETST), KushCo Holdings Inc. (OTC:KSHB), India Globalization Capital, Inc. (NYSE:IGC), MedMen Enterprises Inc. (CSE:MMEN) (OTC:MMNFF), Chineseinvestors.com (OTC:CIIX).
Earth Science Tech, Inc. (OTCQB: ETST) BREAKING NEWS: Earth Science Tech , an innovative biotech company focused on the cannabidiol (CBD), nutraceutical and pharmaceutical fields, medical devices, and research and development, today provides an update on the progression of its cannabidiol ("CBD") patents and reacts to the U.S. Drug Enforcement Agency's ("DEA") recent decision to remove certain CBD products from its Schedule 1 list of controlled substances.
As previously announced, ETST will soon launch its two CBD-based nutraceutical formulas - a neuron protector and a breast protector - under the provisory patent. In tandem, the Company is developing a new brand for these two formula patents.
ETST further announces that the Quebec Agrifood Innovation Center ("QAIC") is finishing the standardization of the formulas. By the end of October, TransBiotech will conduct in vitro testing for the formulas' biological activities, comparing the level of protection provide by ETST's hemp oil alone versus its hemp oil with other natural ingredients. These components have been meticulously chosen for their bioactivity.
"The results obtained from TransBiotech will help us understand the mechanism of action of CBD and will open the doors for the research needed to develop revolutionary CDB-based pharmaceutical drugs," says ETST president and CEO Nickolas Tabraue. "We will provide more details on the progress of these formulas in the near future, as well as an update on the first CBD-based pharmaceutical product we are developing with Bionatus for the treatment of asthma, as announced last year."
In addition to nutraceutical formulas, ETST's pipeline also includes CBD-based pharmaceutical formulas. As legalization of cannabis and cannabis-based products continues to spread, ETST expects that its pure hemp oil and new formulas will eventually be sold worldwide. As , ETST will be a licensed distributor and will work closely with pharmacists and researchers to serve the burgeoning cannabis market.
This expectation is emboldened by the DEA's recent decision to reclassify FDA-approved drugs that contain cannabis-derived CBD and less than 0.1% tetrahydrocannabinol (THC) as schedule V, the lowest restriction classification. The decision follows the FDA's first approval of a non-synthetic CBD-based drug to treat rare types of epilepsy.
Once the ruling goes into effect, it could open the door for companies like ETST to develop treatments for other illnesses. The new classification will also render clinical studies with CBD easier to plan.Read this and more news for ETST at http://www.financialnewsmedia.com/news-etst
Other recent developments in the cannabis industry include:
India Globalization Capital Inc. (NYSE:IGC) came to a close up 46.34% on Tuesday with over 118.3 million shares traded by the market close. The company recently announced that it raised $1.0 million in a private placement of restricted shares. 869,565 shares of newly issued unregistered common stock were sold at $1.15 per share. After fees and expenses, the net proceeds to IGC are approximately $1.0 million. The net proceeds from the offering are for marketing and working capital associated with the commercialization of Hyalolextm. The sale is subject to customary closing conditions, including approval by the NYSE. "We are pleased to receive an investment from a strategic investor who shares IGC's vision and confidence in commercializing our flagship product, Hyalolextm, and our ability to drive long-term shareholder value. The investment is made by Bradbury Investment Fund limited, based in Hong Kong, through three of its Global Asset Funds. The investment is strategic as the fund can introduce the Company to potential acquisitions of global assets as more countries legalize hemp, cannabinoids, and cannabis. Further, the fund can also help the Company in introducing its products, including Hyalolextm, in foreign countries," said Ram Mukunda, CEO of IGC.
KushCo Holdings Inc. (OTCQB:KSHB) recently announced it is changing the name of its Kush Bottles division to Kush Supply Co., effective October 1, 2018. The updated name better reflects the platform's lateral transition to a more diversified business model, where the Company now supplies growers, extractors, infused product-makers, brands, and large multi-state operators with a range of products and services that meet and exceed the critical needs in their supply chains. In addition, with these clients experiencing hyper growth due to rapidly increased consumer demand, there is now more of a need for a one-stop supplier of core ancillary products who can scale with the market as it expands. Kush Supply Co. will be led by Jason Vegotsky, who will serve as the division's President, after formerly serving as Vice President of Sales. "This brand change will be pivotal for how we communicate to our current and potential customers. Our value proposition continues to expand on a very frequent basis. We recognize the importance for key multi-state operators and extractors who are scaling to have a partner that can support all facets of their business. As we continue our own internal effort of explosive growth, as evidenced in our recent preliminary fiscal year 2018 revenue of $51 million, Kush Supply Co. will continue innovating and focusing on what we need to do to be that premier partner," said Jason Vegotsky, President of Kush Supply Co.
MedMen Enterprises Inc. (CSE:MMEN.CN) (OTCQB:MMNFF) recently announced it has signed a definitive agreement (the "Agreement") with WhiteStar Solutions LLC ("WhiteStar") to acquire control of Monarch, a Scottsdale, Arizona-based licensed medical cannabis license holder with dispensary, cultivation and processing operations through the acquisition of Omaha Management Services, LLC. In addition, MedMen will acquire from WhiteStar their exclusive co-manufacturing and licensing agreements with Kiva, Mirth Provisions and HUXTON for the state of Arizona. "Our strategy has been to establish our brand in the primary markets of California, Nevada and New York," said Adam Bierman, MedMen chief executive and co-founder. "We have a leading presence in those primary markets and we are now ready to expand our reach. Arizona, with its robust medical marijuana program and connectivity to California and Nevada where our brand is already strong, makes this a great fit." Arizona is one the largest medical marijuana markets in the country with over 172,000 current patients. The state also represents one of the larger addressable adult-use markets in the U.S. A ballot measure to legalize adult-use narrowly missed in 2016, and is expected to return in 2020.
Chineseinvestors.com (OTCQB:CIIX) came to a close up 55.30% on Tuesday with a volume north of 4.3 million shares trading by the market close. Earlier this week, the company announced plans to launch CBD Hemp Wine, its private brand, hemp-infused, rice wine, through its wholly-owned foreign enterprise CBD Biotechnology Co. Ltd ("CBD Biotech"). Given the popularity of infused wine and liquor in recent years, CBD Biotech's new hemp-infused, rice wine was developed with the hemp enthusiast in mind. Moreover, CBD Biotech believes that there are potential long-term, functional benefits of hemp and rice wine. In Bama, a Chinese village located in Guangxi Province, the famed "longevity town of China" known for having the longest living residents, the villagers claim to have discovered the secret of long life: rice wine, which they drink throughout the day, snake wine, and a soup made from hemp seeds. Bama is also one of the world's five longevity towns in terms of distribution rate of centenarians, with a population of just over 300,000, 73 of whom are centenarians, one of the highest ratios in the world.
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