Cresco Labs announced their new partnership with a subsidiary called Well Being. What’s so great about it? That they will be selling a new wellness line comprising of hemp-based CBD products through them throughout the US some time soon.
The announcement was made on Monday 25th, where Cresco Labs (CSE:CL,OTC Pink:CRLBF) said that the line will primarily be for the health and wellness market.
Reasons for the new CBD line
And they won’t be the last to do so as market projections for hemp-derived cannabidiol (CBD) rise, we’ll probably be seeing more such collaborations.
Cresco CEO and co founder, Charlie Bachtell said that this was the ‘next obvious step’ for the company and also indicated that CBD offerings were the reason why the US cannabis market will be valued at $75 billion by 2030.
He continued that the wellness offerings can even be distributed nationwide to various grocers, retailers, online marketplaces, and nutrition stores. This would even help further the awareness of cannabinoid based products and their beneficial properties.
How Cresco will approach this
Scott Wilson will be leading this new division. Wilson seems for the job too, as he is the chief experience director at Cresco. Previous to this, he was the global creative director for Nike from 2001 till 2006.
Wilson shares a similar perspective with Bachtell on the upcoming line, saying that it will ‘demystify and build trust in CBD products’ so that consumers will know how to incorporate CBD wellness in their daily lives.
Where Investors stand
The timing of the launch seems perfect too, as Cresco shares jumped nearly 5% at the closing bell, reaching a price of C$12.
Crescp now holds the price target of C$14 Canaccord Genuity (TSX:CF) analyst Derek Dley. Dley initiated his coverage, giving the MSO company a ‘Speculative Buy’ rating.
Interested investors can look into other CBD ventures and business opportunities popping up around every corner. One big reason for this boost being seen in throughout the CBD market is the passing of a US$867 billion farm bill last December.
The bill helped legalise the market, production of the hemp plant and its derivatives. Following this legislation, the Brightfield Group issued a research report with findings indicating that this market will reach a value of US$20 billion by 2022.
Bloomberg’s report showed that Cowen & Co. (NASDAQ:COWN) projected the market at US$16 billion by 2025. They had reached these statistics through a consumer survey of 2,500 adults. The same survey showed even higher results for CBD consumption and that 6.9% respondents had actually used CBD products.
More details from the Cowen report showed that American adults will make 10% of the CBD market by 2025, approximately 25 million people.
Experts weighing in on the CBD boom
Cannabis analyst at the Haywood Securities, Neal Gilmer had told Investing News Network that anecdotal evidence is the reason why the market is bullish. He says that the evidence coupled with actual medical research will boost the market even further.
In her quote to the Investing News Network,CNS Equity Partners CEO, Jennifer Sanders said the correlation for hemp/cannabis adoption in wellness circles is actually outpacing the growth or harvesting of cannabis.
Dubious claims, anecdotal information are not making it any easier for the CBD market. Especially when this industry is still trying to make sense of the limitations of CBD products, while tying to create a solid consumer base and keep them interested.
Still, Cresco will be taking up this venture and is one of the many companies that’s eager to attract Canadian investors. Other MSOs are bring seen as potential markets, as they too being working on their expansionplans as well.
The farm bill looks like the biggest X factor here. Canadian cannabis bigwig, Canopy Growth (NYSE:CGC,TSX:WEED) is planning on pursuing the hemp market there in the US too. They plan on investing US$100 million into this new expansion, particularly in New York hemp development.
Breakfast with Martin Bester calls noted herb healer Dee Stephens on his show
Medicinal Herbology is slowly becoming a discipline that people are getting to know. Medicinal Herbology by its name implies treatment of various ailments with the help of plant-based study. It focuses on preparing the medicine based on set formulations and botanical knowledge so that it can target the ailment the way it intends to.
Medicinal herbology is the use of natural herbs and botanical wisdom to treat patients inflicted with certain illness. The discipline aims at using fresh plants and extracts from all over the natural surroundings to provide long term and less intrusive medical help for patients in need for it.
Recently, Dee Stephens, a noted herbologist and healer was invited to the Breakfast with Martin Bester show so that she could throw light on herbology and the use of cannabis oil to enrich the treatment procedure.
Breakfast with Martin Bester is a popular FM show that runs every weekday morning from 6.00 am to 9.00 am. The show intends to bring to its listeners fresh content with a fun angle. Stephens was called as a guest speaker for this unique show to discuss everything about Herbology and its benefits. Many people are not aware of the benefits which the treatments have and the intention of calling her on the show was clear enough. She also talked about the medical benefits of cannabis oil.
The show also gave a platform to practitioners like her to clarify people on the various doubts surrounding the discipline. Apart from this Cannabis too has often been stigmatised by people chiefly due to lack of information.
Cannabis is a part of the Cannabis Sativa family. CBD which is an extract of the hemp plant from the same family has an acceptable and legal limit of 0.3% of THC in it. Marijuana also which hails from the same plant has higher levels of marijuana which are found on the outer portions of the plant. The THC levels in marijuana are way above the legal limit of THC that is allowable as per the law. That is primarily the reason as to why marijuana is not considered as a constituent that is fair in the eyes of law. The regular intake of marijuana results in the person getting addicted especially after smoking week or pot. CBD is a safer element of Cannabis Sativa because its consumption does not result in the person getting high, neither does it result in mind-altering activities. Due to the anti-inflammatory properties of CBD, it is often used in medicines and cosmetics.
Dee clarified on the show that herbal mixtures and cannabis oil are only about making one feel better and not making anyone feel high. This is a huge misconception which needs to be cleared. The more people read about it the clearer their minds will be concerning the mix. She compared herbs to tea and many people are regular tea drinkers. This does not imply that they are addicted to it.
CBD has become a national craze ever since the farm bill of 2018 legalised it under the act. After President Donald Trump gave a green signal to its use, many companies and plantation owners have decided to go with the trend. Many famous Hollywood personalities like Kim Kardashian and Kourtney Kardashian have sworn by the benefits they have received due to intake of CBD.
Different people have different opinions about CBD. Some people want to know more about it before making a decision. Many people who want to use it are not able to due to uneven laws governing across the country. On one hand, several states have allowed for the legal use of CBD, federal laws are yet to give their nod on it. No law allows CBD to be used as a dietary supplement yet. The need for corroborative proof to back it with the use is much required.
Many takers of CBD have experienced a different set of benefits. People use CBD for reasons like stress and to get enough sleep. But, with CBD proving its mettle in the medical field it is also effective in the treatment of seizures, easing of the situation caused due to epilepsy, joint pains especially after surgeries, cancer and Alzheimer’s.
Whatever one uses CBD for, the resultant benefits are worthy to be read about. The Martin Bester show has surely given CBD enthusiasts a chance to present their case about why CBD is the need of the hour for its medicinal values.
Truck Driver Mike Harris is worried he might lose his job after testing positive for marijuana
On one hand, when CBD is increasing its recognition due to its benefits, on the other hand, people are also facing troubles due to regulatory aspects concerning it. Mike Harris and his partner Debbie Martin are a worried lot. They now worry that CBD oil would take away everything they have and will render them jobless. All the while, they have been able to work and able to secure themselves but with the risk lurking around CBD oil, he is fearful of losing his truck.
Mike Harris owns a trailer truck and with it, they have recorded more than three million driving miles. But now his position is getting jeopardised because all the while when he had contracts of carrying hazardous materials but due to a failed drug test, he might just lose his work.
CBD or cannabinol is derived from a hemp plant and made up of two main ingredients called CBD and THC. CBD is indeed the non-psychoactive compound of the plant which implies that ingesting it will not give you any sense of euphoria. But there are different reactions to CBD and it is often compared to marijuana which has higher levels of THC. When the TCH levels are increased it causes mind-altering effects on the mind and results in a change in behaviour. Cannabis Sativa has two main species called hemp and marijuana. Both of them contain CBD but in hemp CBD is found in higher quantity. This is 0.3% THC in the hemp plant which is much higher compared to marijuana.
Both the truck drivers are extremely cagey and guarded because they want to keep their jobs. Harris has been driving a tractor for more than 20 years and he is not the type of who could do drugs. His driver-partner supports me him completely saying that had he been taking drugs, he wouldn’t have been in the job for so long. Over the period, he has undertaken several drug tests and he was not worried when he was asked to take a similar test in July. Till date, he hadn’t failed any drug test but recently when the tests came he had tested positive for marijuana.
Mike Harris has been suffering from sore muscles and knee pain after his surgery. With the help of CBD, he felt a lot of difference in the easing of pain. When Harris decided to take CBD for his pain and condition, his partner driver also asked the dealer if it would pose any problems concerning the drug test. They confidently decided because of lower THC levels in it. The distributors also assured that they will not face the issue because it was not marijuana.
Jason Freidman who is an expert on CBD runs a store called Ohio CBD guy. He believes that people are not fairly educated about CBD and mislead the customer. The dealers fail to educate people that any product containing even the slightest level of CBD in it likes gummies and oils will end up the person having a failed drug test. Harris also told WLWT investigator Todd Dykes that he had taken CBD out of lack of knowledge for his cause. After the results came out, he passed another home drug test and a subsequent scheduled test which he took a week later.
The product that Harris is taking has no mention of THC anywhere in its packaging and that is the reason why they are warning everyone to be cautious about taking CBD products. Martin tells people that any such situation causes a lot of emotional trauma let alone financial losses.
CBD oil is used in several products but ever since hemp became legal under the farm bill, it has truly been a talk of the town. Just about everyone is talking about CBD and new businesses are mushrooming everywhere. People are researching on CBD and its benefits. CBD has had a great impact on the health and well-being of people who are suffering from different problems like seizures, pains, join pains, knee ailments, cancer and even Alzheimer’s. The regulations regarding CBD are currently in a very confusing situation. There are many states which have made it legal to use yet Federal law still hasn’t given CBD the clean chit. Only time will tell whether CBD will become a federally legal product or not.
Two men producing and selling class B Cannabis jailed
On September 10th, two men from Penyrheol were found guilty and sentenced for growing 54 varieties of cannabis plants in May 2018. David Michael Beckett aged 51 and Liam Beckett aged 51 and 23 were found guilty of producing a controlled class B drug. David Michael was sentenced for four years whereas Liam was given four years in jailed custody. The two guilty were also accused of involving in a plot to supply these class B Drug products further after production on profit.
Hemp plant is a part of Cannabis Sativa from which marijuana and Cannabis is set to be derived. While marijuana is found on those parts of the plant that contain a high level of THC and psychoactive elements whereas in the seeds and fibers lower levels of THC and higher levels of CBD is found. CBD unlike marijuana is low on THC and also has anti-inflammatory substance. CBD is also a form of weed but it does not give results like marijuana. The over-addiction of marijuana gives a high whereas CBD does not produce that effect as people believe it to do. In fact CBD has been found to be medically very effective and useful. Due to this many professionals are researching more on the plant to acquire new information on more uses.
Possession and production of class B drugs is strictly prohibited because of its apparent dangers. Drugs are usually put into three categories based on the level of dangers we are exposed to. Different types of drugs affect different types of people in a different manner. That information kept aside drugs usually are considered exceptionally dangerous. The three categories of drugs are Class A that includes heroin, cocaine, ecstasy and LSD. They are extremely dangerous to use and are hazardous. Class B drugs include cannabis (restricted varieties), speed and Ketamine which are also dangerous but not to the extent of Class A. Class C drugs are considered least dangerous yet risky and include drugs like anabolic steroids, GHB and tranquillisers.
The Newport Crown Court presented the case on August 14th. Gwent Police is extremely wary of such crimes and selling them is a major offense. These sellers do it for profit but forget that any exposure that people have to such substances will make them vulnerable and addicted.
A few categories of Cannabis have yet not found acceptability despite legalizing hemp plant in 2018. They were caught growing the restricted varieties of cannabis. Although in recent years people have begun to understand the benefits of CBD people have to understand the difference between what is right and what is not. CBD industry is growing like never before with many industries quick to resort to CBD based ventures. In the medical field too CBD has been touted as the life saver drug that has saved and eased the lives of many people. CBD has been a miraculous drug in treating extreme levels of seizures which had no cure earlier. Apart from this people suffering from depression, anxiety of all forms, cancer and joint pains have benefitted majorly from the CBD drug.
The police who have reportedly tightened their seat belts to condense drug related and other forms of organized crime have pleaded people to refrain from using these class B drugs. They have devastating impacts on the health and well-being and in most of the cases they are irreversible. Such dealings are only harming the local community and people who take it. The police have requested people to be more vigilant and report every single thing they label as suspicious. They have asked people to be more observant especially about the activities that take place in their local areas. The Police have also told people to divulge even the smallest of details they might possess and not shun it away considering it as minute. They believe every little piece of information can be useful to them for solving a larger crime.