Posted by AGORACOM-JC
at 3:03 PM on Friday, April 3rd, 2020
Company has signed a non-binding letter of intent with Heather Marianna, LLC, doing business as Beauty Kitchen
The LOI is non-binding and subject to possible change and the signing of a definitive agreement
VANCOUVER, British Columbia, April 03, 2020 — PRIMO NUTRACEUTICALS INC. (CSE: PRMO) (OTC: BUGVF) (FSE: 8BV) (DEU: 8BV) (MUN: 8BV) (STU: 8BV) (“Primo” or the “Company”)Pursuant to discussions with IIROC (Investment Industry Regulatory Organization of Canada) Primo’s board and management team are providing more clarity to its shareholders in regards to the press release issued on March 31st, 2020.
The Company has signed a non-binding letter of intent (LOI) with Heather Marianna, LLC, doing business as Beauty Kitchen, a Nevada company, (“Beauty Kitchenâ€). The LOI is non-binding and subject to possible change and the signing of a definitive agreement.
Primo and Beauty Kitchen intend to draft and execute a definitive agreement (the “Definitive Agreementâ€) with detailed terms and conditions in the near future. Beauty Kitchen intends to incorporate a Canadian corporation, Marianna, Inc., (“Marianna, Inc.â€) in which it will conduct operations in Canada. Primo will acquire an ownership interest of 25% of the common voting (TBC) shares in Marianna, Inc., for consideration to be determined in the Definitive Agreement. Primo wishes to inform its shareholders that the transaction described by the LOI is subject to change pending signing of the Definitive Agreement.
On behalf of the Board of Directors
PRIMO NUTRACEUTICALS INC.
“Andy Jagpalâ€
President and Director
For further information, please contact Zoltan, IR Representative at: 604-722-0305, or; [email protected].
To learn more about what this news means to the shareholders visit:
FORWARD LOOKING STATEMENTS: This news release contains certain forward-looking statements within the meaning of Canadian securities laws. Forward-looking statements are based on the expectations and opinions of the Company’s management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise. No regulatory authority has approved or disapproved the information contained in this news release.
Posted by AGORACOM-JC
at 9:39 AM on Tuesday, March 31st, 2020
Signed a letter of intent with Heather Marianna, LLC parent company of (“Beauty Kitchenâ€)
The Board of Directors of Primo have approved, in principle, a proposal to acquire and raise funding in respect of its interests in the “Beauty Kitchen” projects into a newly incorporated subsidiary
Beauty Kitchen is a company that manufactures fresh handmade beauty care, personal care, and cosmetics products, which was born from the hugely popular Beauty Kitchen YouTube series
VANCOUVER, British Columbia, March 31, 2020 – PRIMO NUTRACEUTICALS INC. (CSE: PRMO) (OTC: BUGVF) (FSE: 8BV) (DEU: 8BV) (MUN: 8BV) (STU: 8BV) (“Primo” or the “Company”) is pleased to announce that it has signed a letter of intent (“LOIâ€) with Heather Marianna, LLC parent company of (“Beauty Kitchenâ€) a Nevada company. The Board of Directors of Primo have approved, in principle, a proposal to acquire and raise funding in respect of its interests in the “Beauty Kitchen” projects into a newly incorporated subsidiary.
Beauty Kitchen proposes a transaction whereby its management team
(and affiliates) incorporates a Canadian corporation, tentatively called
“Marianna, Inc.†to receive exclusive Canadian distribution rights to
its CBD infused and non-CBD infused products in handmade beauty care,
personal care, and cosmetic products. Primo will acquire ownership
interest of a minimum of 25% in the newly incorporated subsidiary.
Beauty Kitchen is a company that manufactures fresh handmade beauty
care, personal care, and cosmetics products, which was born from the
hugely popular Beauty Kitchen YouTube series. Founder and CEO, Heather
Marianna, skyrocketed in popularity with the launch of her Beauty
Kitchen YouTube series in 2012 where she showcased simple,
do-it-yourself beauty recipes made with common kitchen household
ingredients. The series generated a powerful following of more than 4
million viewers.
The Company plans to reorganize its operating divisions along with
the closing of the acquisition and financing for its subsidiary. It is
proposed that the transaction may be carried within a statutory plan of
arrangement (the “Spin-Out“) pursuant to the Business Corporations Act (British Columbia) under the “reorganization exemption†under the Securities Act.
The Plan of Arrangement will be subject to the approval of Primo’s
shareholders which Primo intends to seek at a special meeting of
shareholders (the “Shareholders’ Meeting“). The date
for the Shareholders Meeting has not yet been determined. The
transaction may be subject to rules of The Canadian Stock Exchange (“CSE“) approval and any Plan of Arrangement requires approval by Court Order of the British Columbia Supreme Court.
The Parties intend to draft and execute a definitive agreement (the “Definitive Agreementâ€)
with detailed terms as soon as practicable, and complete this
Transaction on or before April 30, 2020. Terms of the LOI are subject to
change as set out in the Definitive Agreement.
Andy Jagpal, President Comments:
“This LOI is our second step into the growing CBD and Natural
Health market. Primo’s vision and strategy is to acquire a minority
interest in companies like Beauty Kitchen and Thrive as our growth
strategy in 2020 and beyond. These two brands along with Primo’s will
enter this fledgling Natural Health & CBD market with an online
presence as well as retail one too. We are very excited about the value
this partnership will bring to the company and its shareholders.â€
About Beauty Kitchen Beauty Kitchen is a company
that manufactures fresh handmade beauty care, personal care, and
cosmetics products, which was born from the hugely popular Beauty Kitchen YouTube series.
The founder, Heather Marianna, a bubbly social media personality,
translated her passion for looking and feeling her absolute best into
the development of her all-natural beauty and skincare product line.
Beauty Kitchen’s founder and CEO, Heather Marianna, skyrocketed in
popularity with the launch of her Beauty Kitchen YouTube series in 2012
where she showcased simple, do-it-yourself beauty recipes made with
common kitchen household ingredients. The series generated a powerful
following of more than 4 million viewers. Beauty Kitchen is regularly featured in: Forbes,
The Source, MTV, Bravo, The New York Post, People, Flipsnack, Vegas,
Star Magazine, Radar Online and many more media outlets with a large
following of celebrities who use their products which include; Sean
“Puffy†Combs, Christina Milian, David Arquette, George Lopez, Larissa
Lima, Shark Tank’s Barbara Corcoran, Candace Cameron, Jen Harley, Lou
Ferrigno, The Real Housewives of Beverly Hills and others. For more information visit: www.beautykitchenonline.com
About Primo Nutraceuticals Primo Nutraceuticals
Inc. (“Primo” or the “Company”) provides strategic capital to the
thriving cannabis cultivation sector through ownership and development
of commercial real estate and farm friendly properties. Primo is
dedicated to funding the rapid growth in production, processing, retail
and branding of cannabis and cannabis related products in Canada and the
United States. Primo has invested in several brands and is pursuing
partnerships with retailers and distribution companies in Canada and the
United States. Primo’s management is in the process of building a
corporate road map to further vertically integrate the Company,
specifically by way of “Primo†branded retail outlets – offering
“Thrive,” “Primo,” and a selection of curated partner brands. The
Company possesses proprietary formulas for cannabis edibles, topical,
and tinctures. Primo is focused on building a strong presence in the
hemp industry with the objective of extracting and selling cannabinoids
(CBD) products in both Canada and the United States.
On behalf of the Board of Directors
PRIMO NUTRACEUTICALS INC.
“Andy Jagpalâ€
President and Director
For further information, please contact Zoltan, IR Representative at: 604-722-0305, or; [email protected].
To learn more about what this news means to the shareholders visit
FORWARD LOOKING STATEMENTS: This news release
contains certain forward-looking statements within the meaning of
Canadian securities laws. Forward-looking statements are based on the
expectations and opinions of the Company’s management on the date the
statements are made. The assumptions used in the preparation of such
statements, although considered reasonable at the time of preparation,
may prove to be imprecise and, as such, undue reliance should not be
placed on forward-looking statements. The Company expressly disclaims
any intention or obligation to update or revise any forward-looking
statements whether as a result of new information, future events or
otherwise.
No regulatory authority has approved or disapproved the information contained in this news release.
Tags: CBD, covid19, Hemp, Marijuana, stocks Posted in PRIMO Nutraceuticals Inc. | Comments Off on Primo Nutraceuticals Inc. $PRMO.ca Signs LOI to enter in to Funding and Share Purchase Agreement for 25% with Beauty Kitchen (Canada) $CROP.ca $VP.ca NF.ca $MCOA
Posted by AGORACOM-JC
at 4:13 PM on Tuesday, March 24th, 2020
As the impact of COVID-19 is felt across the globe, and with the reported cases of the corona virus spreading rapidly across Canada and the US, Primo proudly introduced a line of hand sanitizers in collaboration with Beauty Kitchen to help mitigate the spread of germs.
The directors of Primo are passionate about wanting to help their
local communities fight the spread of germs by manufacturing the “Primo
Clean†hand sanitizer and giving it away for free.
Posted by AGORACOM-JC
at 9:37 AM on Tuesday, March 24th, 2020
Signed a production order with Celebrity Driven Brand Beauty Kitchen to provide a free non-hydroalcoholic gel to local communities after fears of hand sanitizer shortages.
VANCOUVER, British Columbia, March 24, 2020 — PRIMO NUTRACEUTICALS INC. (CSE: PRMO) (OTC: BUGVF) (FSE: 8BV) (DEU: 8BV) (MUN: 8BV) (STU: 8BV) (“Primo” or the “Company”)Â is pleased to announce that it has signed a production order with Celebrity Driven Brand Beauty Kitchen to provide a free non-hydroalcoholic gel to local communities after fears of hand sanitizer shortages.
As the impact of COVID-19 is felt across the globe, and with the reported cases of the corona virus spreading rapidly across Canada and the US,
Primo Nutraceuticals feel it is our obligation, as corporate citizens,
to address every aspect of our operations with the goal of ensuring that
our workplace has proper business protocols in place for business to
continue; and that our business community, friends, family and the
public at large are safe guarded. We are proud to introduce a line of
hand sanitizers in collaboration with Beauty Kitchen to help mitigate
the spread of germs in our communities.
The directors of Primo are passionate about wanting to help their
local communities fight the spread of germs by manufacturing the “Primo
Clean†hand sanitizer and giving it away for free.
Andy Jagpal, President Comments:
“Through this initiative, Primo intends to help address the risk
of a lack of hand sanitizer products in our local communities which will
enable a greater number of people to continue to take the right action
to protect themselves from the spread of the germs.”
PRIMO’s move comes in the wake of widespread shortages of hand
sanitizer across the globe. In New York Gov. Andrew Cuomo announced that
the state would be employing inmates in order to produce its own hand sanitizer.
The CDC
recommends washing your hands with soap and water whenever possible as
it will significantly reduce the amount of all types of germs and
chemicals on hands. However, if soap and water are not available, using
hand sanitizer can help you avoid spreading germs to others. Please note
however, that hand sanitizers may not be as effective when hands are
visibly dirty or greasy.
About Beauty Kitchen
Beauty Kitchen is a company that manufactures fresh handmade beauty
care, personal care, and cosmetics products, which was born from the
hugely popular Beauty Kitchen YouTube series.
The founder, Heather Marianna, a bubbly social media personality,
translated her passion for looking and feeling her absolute best into
the development of her all-natural beauty and skincare product line.
Beauty Kitchen’s founder and CEO, Heather Marianna, skyrocketed in
popularity with the launch of her Beauty Kitchen YouTube series in 2012
where she showcased simple, do-it-yourself beauty recipes made with
common kitchen household ingredients. The series generated a powerful
following of more than 4 million viewers. Beauty Kitchen is regularly featured in: Forbes,
The Source, MTV, Bravo, The New York Post, People, Flipsnack, Vegas,
Star Magazine, Radar Online and many more media outlets with a large
following of celebrities who use their products which include; Sean
“Puffy†Combs, Christina Milian, David Arquette, George Lopez, Larissa
Lima, Shark Tank’s Barbara Corcoran, Candace Cameron, Jen Harley, Lou
Ferrigno, The Real Housewives of Beverly Hills and others. For more information visit:www.beautykitchenonline.com
About Primo Nutraceuticals
Primo Nutraceuticals Inc. (“Primo” or the “Company”) provides
strategic capital to the thriving cannabis cultivation sector through
ownership and development of commercial real estate and farm friendly
properties. Primo is dedicated to funding the rapid growth in
production, processing, retail and branding of cannabis and cannabis
related products in Canada and the United States. Primo provides fully
built out turnkey facilities equipped with state-of-the-art growing
infrastructure to cannabis growers and processors. In addition to the
Company’s flagship hemp project in Oregon State and the Greenhouse
campus in Washington State, Primo has invested in several brands and is
pursuing partnerships with retailers and distribution companies in
Canada and the United States. Primo’s management is in the process of
building a corporate road map to further vertically integrate the
Company, specifically by way of “Primo†branded retail outlets –
offering “Thrive,” “Primo,” and a selection of curated partner brands.
The Company possesses proprietary formulas for cannabis edibles,
topical, and tinctures. Primo is focused on building a strong presence
in the hemp industry with the objective of extracting and
selling cannabinoids (CBD) products in both Canada and the United
States.
On behalf of the Board of Directors
PRIMO NUTRACEUTICALS INC.
“Andy Jagpalâ€
President and Director
To learn more about what this news means to the shareholders visit https://marketnewsfirst.com/primo-nutraceuticals
For further information, please contact Zoltan, IR Representative at: 604-722-0305 [email protected].
FORWARD LOOKING STATEMENTS: This news release
contains certain forward-looking statements within the meaning of
Canadian securities laws. Forward-looking statements are based on the
expectations and opinions of the Company’s management on the date the
statements are made. The assumptions used in the preparation of such
statements, although considered reasonable at the time of preparation,
may prove to be imprecise and, as such, undue reliance should not be
placed on forward-looking statements. The Company expressly disclaims
any intention or obligation to update or revise any forward-looking
statements whether as a result of new information, future events or
otherwise.
No regulatory authority has approved or disapproved the information contained in this news release.
Posted by AGORACOM-JC
at 2:04 PM on Monday, March 23rd, 2020
Cease trade order has been lifted and as of March 5, 2020 the Company is once again trading on the CSE under the symbol: PRMO
The Company was not subject to any insolvency proceedings
VANCOUVER, British Columbia, March 23, 2020 — PRIMO NUTRACEUTICALS INC. (CSE: PRMO) (OTC: BUGVF) (FSE: 8BV) (DEU: 8BV) (MUN: 8BV) (STU: 8BV) (“Primo” or the “Company”) is pleased to announce that it has satisfied the provisions of the information guidelines of National Policy 12-203, by filing its annual financial statements and MD&A for the year ended July 31, 2019, and therefore its cease trade order has been lifted and as of March 5, 2020 the Company is once again trading on the CSE under the symbol: PRMO. Â The Company was not subject to any insolvency proceedings.
The Company also announces the appointment of Mr. Mark Bechtel as Corporate Secretary.
Mr. Bechtel is a securities lawyer with extensive experience in
Canadian capital markets and exchanges. Presently Mr. Bechtel operates a
law firm located in downtown Vancouver specializing in venture and
emerging markets. As Corporate Secretary of Primo Mr. Bechtel will
ensure that best practices for regulatory compliance are established and
maintained.
The Company has also entered into a consulting agreement with Sheryl
Dhillon to act as their Corporate Governance consultant. Ms. Dhillon
is a highly experienced corporate secretary with over fifteen years of
experience. She has extensive knowledge of corporate governance, as
well as strong management skills and excellent corporate
communications. Ms. Dhillon acts as Corporate Secretary for several
TSXV and CSE listed companies.
“The addition of Mr. Bechtel and Ms. Dhillon is a significant
value-add to the Primo team. Their cumulative experience in various
disciplines will further empower the Company’s growth. It is an
exciting time for our Company.†Comments from Mr. Andy Jagpal, CEO & President.
ON BEHALF OF THE BOARD OF DIRECTORS
“Andy Jagpal”
President and Director
For further information, please contact Zoltan, IR Representative at:
This news release contains certain forward-looking statements
within the meaning of Canadian securities laws. Forward-looking
statements are based on the expectations and opinions of the Company’s
management on the date the statements are made. The assumptions used in
the preparation of such statements, although considered reasonable at
the time of preparation, may prove to be imprecise and, as such, undue
reliance should not be placed on forward-looking statements. The Company
expressly disclaims any intention or obligation to update or revise any
forward-looking statements whether as a result of new information,
future events or otherwise.
No regulatory authority has approved or disapproved the information contained in this news release.
Posted by AGORACOM-JC
at 1:15 PM on Tuesday, February 11th, 2020
SPONSOR: PRIMO NUTRACEUTICALS INC.
(CSE: PRMO) (OTC: BUGVF) (FSE: 8BV) (DEU: 8BV) (MUN: 8BV) (STU: 8BV)
provides strategic capital to the thriving cannabis cultivation
sector through ownership and development of commercial real estate
properties. The company also offers fully built out turnkey facilities
equipped with state-of-the-art growing infrastructure to cannabis
growers and processors. Click here for more info.
Consumers Clamor for CBD as More Novel Uses are Purported
CBD products overall are having a major impact on the global industry because they offer a number of therapeutic benefits without the psychoactive effects of THC
Currently, this segment of the cannabis industry is also gaining prevalence for its potential to treat serious medical conditions such as cancer, multiple sclerosis, Alzheimer’s, Parkinson’s, depression, and anxiety.
NEW YORK, Feb. 11, 2020 — Earlier in 2018, the Farm Bill restored industrial hemp to nationwide legal production for the first time since World War II. Removing hemp from the Controlled Substances Act of 1970 (CSA) also helped create a financial domino effect – eventually leading to mass-market retailers CVS Health, Rite Aid, and Walgreens Boots Alliance to carry hemp-CBD brands. Notably, cannabis-based oils have become widely popular because of their potent and immediate effects.
In fact, CBD products overall are having a major impact on the global
industry because they offer a number of therapeutic benefits without
the psychoactive effects of THC. Currently, this segment of the cannabis
industry is also gaining prevalence for its potential to treat serious
medical conditions such as cancer, multiple sclerosis, Alzheimer’s,
Parkinson’s, depression, and anxiety. And as the U.S. hemp industry
matures, it is expected to transition from being a seed, textile, and
industrial product importer to a global exporter. And according to data
compiled by Hemp Business Journal, a division of New Frontier Data, the
total sales for the U.S. hemp industry totaled USD 820 Million in 2017. The research also suggests that the industry is expected to grow to USD 1.9 Billion by 2022 and at a CAGR of 14.4% during the 5-year period.
The 2018 Farm Bill, however, explicitly preserved the FDA’s authority
to regulate products containing cannabis or cannabis-derived compounds
under the FD&C Act and section 351 of the Public Health Service Act
(PHS Act). This leaves a lot of uncertainties regarding which products
can be sold legally. According to the FDA, it treats products containing
cannabis or cannabis-derived compounds as it does any other
FDA-regulated products – meaning they’re subject to the same authorities
and requirements as FDA-regulated products containing any other
substance.
This is true regardless of whether the cannabis or cannabis-derived
compounds are classified as hemp under the 2018 Farm Bill. And despite
the federal regulatory uncertainties, at least 70% of the 2019 U.S. hemp
harvest is intended for extract production, with Colorado leading the nation in hemp cultivation and processing land area with over 80,000 acres reported.
“The 29 U.S. states reporting licensed hemp cultivation acreage total
almost half a million acres in combined cultivation land area, which is
a massive increase compared to 2018 figures of a total land area barely
over 100,000 acres. While there continues to be uncertainty and a
healthy amount of confusion around hemp cultivation for CBD production,
it is clear that demand is nonetheless continuing to rise across the
U.S.,” noted Giadha Aguirre de Carcer, New Frontier Data CEO and
Founder. “As states issue more licenses, consumer demand increases, and
mass-market retailers such as CVS and Walgreens continue to expand their
own product offerings, we expect the FDA may be forced to provide
further regulatory clarifications sooner rather than later.”
Tags: CBD, Hemp, Marijuana, stocks, tsx Posted in PRIMO Nutraceuticals Inc. | Comments Off on PRIMO Nutraceuticals $PRMO.ca – Consumers Clamor for #CBD as More Novel Uses are Purported $CROP.ca $VP.ca NF.ca $MCOA
Posted by AGORACOM-JC
at 12:10 PM on Monday, February 10th, 2020
SPONSOR: PRIMO NUTRACEUTICALS INC.
(CSE: PRMO) (OTC: BUGVF) (FSE: 8BV) (DEU: 8BV) (MUN: 8BV) (STU: 8BV)
provides strategic capital to the thriving cannabis cultivation
sector through ownership and development of commercial real estate
properties. The company also offers fully built out turnkey facilities
equipped with state-of-the-art growing infrastructure to cannabis
growers and processors. Click here for more info.
CBD’s Touted Therapeutic Benefits Help Loosen Regulatory Constraints
Global cannabidiol market is expected to reach USD 9.69 Billion by 2025 while registering a CAGR of 32.6% during the forecast period.
NEW YORK, Feb. 10, 2020 – Most regions that have approved medical cannabis typically see doctors prescribe CBD-based medications to their patients. CBD, or cannabidiol, is a derivative of the hemp plant, yet is unlike its counterpart, THC, which is derived from the marijuana plant. Nowadays, the FDA acknowledges that CBD can possibly become a legitimate alternative medical treatment to a number of traditional therapeutics, further highlight the health benefits associated with the compound. However, the agency is requiring researchers to provide more data on the efficacy of CBD in order for CBD to become an approved medicinal treatment, prompting them to conduct large-scale clinical trials. “As legislation expands rapidly worldwide, the volume of efficacy data is growing, as are legitimate clinical trial studies,” says Liam McGreevy, Chief Executive Officer of Ethnopharm, a European cannabis company specializing in genetics and distribution, “This data will enable us to better understand the effects of the various cannabinoids and terpenes, their synergistic effect and how their impact links to the individual’s genetics or biomarkers.
This data is key to understanding the most effective combinations and
strengths for various conditions, moving towards targeted personalized
medicines.” And according to data compiled by Grand View Research, the
global cannabidiol market is expected to reach USD 9.69 Billion
by 2025 while registering a CAGR of 32.6% during the forecast period.
Global Payout, Inc. (OTC: GOHE), Auxly Cannabis Group Inc. (OTC: CBWTF),
Puration Inc. (OTC: PURA), Green Organic Dutchman Holdings Ltd. (OTC:
TGODF), Liberty Health Sciences Inc (OTC: LHSIF)
As the cannabis industry continues to develop, lawmakers and federal
agencies are actively working towards expanding the market. Recently,
the U.S. Department of Agriculture (USDA) provided an update on its
interim final rule process for hemp. According to the USDA, hemp
production in the U.S. has seen a resurgence in the last five years;
however, it remains unclear whether consumer demand will meet the
supply. High prices for hemp, driven primarily by demand for use in
producing CBD, relative to other crops, have also driven increases in
planting. As such, producer interest in hemp production is largely
driven by the potential for high returns from sales of hemp flowers to
be processed into CBD oil.
And after extensive consultation with the Attorney General, the USDA
issued the following interim final rule to establish the domestic hemp
production program and to facilitate the production of hemp, as set
forth in the 2018 Farm Bill: The USDA upholds the 0.3% threshold as out
of its jurisdictional hands as written into the law. Furthermore, the
lack of remedies for testing noncompliance raised suggestions that
farmers be allowed to ship to processors who could remove the THC to
keep the crop viable. Another subject of worry was the requirement (as
described in the Federal Register) that laboratories be certified by the
Drug Enforcement Administration (DEA), and crops tested within 15 days
prior to harvest. Yet, by the end of January, only 44 labs existed to
support more than 16,000 licensed farmers. Accordingly, the industry
expects to remain bureaucratically constrained yet again after other
fundamental supply-chain bottlenecks limited output and producers’
ability to bring their crops to market.
Tags: CBD, Hemp, Marijuana, stocks, tsx, tsx-v Posted in PRIMO Nutraceuticals Inc. | Comments Off on PRIMO Nutraceuticals Inc. $PRMO.ca – #CBD’s Touted Therapeutic Benefits Help Loosen Regulatory Constraints $CROP.ca $VP.ca NF.ca $MCOA
Posted by AGORACOM-JC
at 10:12 AM on Wednesday, December 18th, 2019
SPONSOR: PRIMO NUTRACEUTICALS INC.
(CSE: PRMO) (OTC: BUGVF) (FSE: 8BV) (DEU: 8BV) (MUN: 8BV) (STU: 8BV)
provides strategic capital to the thriving cannabis cultivation
sector through ownership and development of commercial real estate
properties. The company also offers fully built out turnkey facilities
equipped with state-of-the-art growing infrastructure to cannabis
growers and processors. Click here for more info.
Lawmakers pressure FDA to make clear guidelines on CBD
With the passing of the 2018 Farm Bill, farmers, manufacturers and consumers are keeping a watchful eye on the agency and how they might address compliance for the thousands of companies selling the product and the millions of consumers vying to use it.Â
June 25, 2019, Senator Ron Wyden sent a letter to the Department of Health and Human Services and the Food and Drug  Administration urging both entities to provide clarity around CBD products derived from hemp.
The FDA has been under a magnifying glass since hemp was declassified
as a schedule I drug, having formerly fallen under the thumb of the
Controlled Substances Act of 1970.
With the passing of the 2018 Farm Bill, farmers, manufacturers and
consumers are keeping a watchful eye on the agency and how they might
address compliance for the thousands of companies selling the product
and the millions of consumers vying to use it.
Yet silence and lack of clarification on a potential path towards
compliance for supplement producers has left many chomping at the bit
for the agency to come up with regulatory guidelines for selling Food
and dietary supplements containing CBD. In the interim, well-established
companies such as Next Green Wave, Inc. (Next
Green Wave, NGW:CSE | NXGWF:OTCQX) have continued to solidify their
position in the market, ready and able to serve the exponentially
growing demand of what promises to be a $20 plus billion-dollar
industry.
A Slow and Arduous Process
In Wyden’s letter, the lawmaker criticized the FDA’s indication that
it could take up to 3 to 5 years for the FDA to implement final
regulations for companies to lawfully sell CBD infused foods, calling
the suggestion “unacceptable.†Wyden wrote that he urges the FDA to
quickly implement “enforcement discretion guidelines†by August 1, then
issue an interim final rule pending a permanent rule so that companies
will have clarity on how CBD in food and dietary products will be
regulated.
This argument may have fallen on attentive ears, but as of the date
of this publication, the FDA has yet to provide any clear established
guidelines. Although the agency has wielded their powers against a
handful of “bad actorsâ€, their approach seems to be that of “wait and
see†with regards to due process.
The letter penned by Wyden also stressed the economic impact growers
in states like Oregon would benefit from by allowing CBD to be in more
products, but are halted until the FDA gives the okay that CBD in
ingestible products is lawful to sell and okay to use.
However, this isn’t the first letter Wyden
has sent to the agency regarding a regulatory pathway to CBD
commercialization. In January the lawmaker co-authored a letter with
Senator Jeff Merkley telling the FDA they must revamp current
legislation around offering CBD products. Both senators advised former
commissioner Scott Gottlieb to “immediately begin updating regulations
for hemp-derived CBD and other hemp-derived cannabinoids, and give U.S.
producers more flexibility in the production, consumption, and sale of
hemp products,†according to the letter.
FDA is listening to public demand for clear CBD regulations
The FDA has slowly but surely has been taking measures to develop
guidelines around selling CBD ingestible-products. In late May, the
agency held a public hearing allowing stakeholders the opportunity to
share their reasons why the FDA-regulation for CBD food and dietary
products is crucial, according to the Chicago Tribune.
The agency also gave a chance for the public to weigh in on CBD
regulation by opening a public docket for individuals to add comments.
The deadline to submit comments was July 16, and the agency received
over 3,000 comments, according to the Chicago Tribune. In conjunction
with the open docket, the FDA also published an article July 17 echoing the agency’s stance on CBD and concern for public safety.
“We recognize that there is significant public interest in these
products, for therapeutic purposes and otherwise,†the article said. “At
the same time, there are many unanswered questions about the science,
safety, and quality of many of these products. As we approach these
questions, we do so as a science-based regulatory agency committed to
our mission of protecting and promoting public health.â€
In the “Listening to and learning from stakeholders†section of the
article, the FDA insists that relative questions must be answered in
order to develop a clear pathway to regulate CBD products which include
the following:
How much CBD is safe to consume in a day? How does it vary depending on what form it’s taken?
Are there drug interactions that need to be monitored?
What are the impacts on special populations, like children, the elderly, and pregnant or lactating women?
What are the risks of long-term exposure?
In a second article published on the same day, the FDA stressed it has not approved any CBD products besides Epidiolex,
a drug which treats seizures caused by epilepsy. And is currently
working to figure out how CBD will affect body parts, special
populations and pets.
Since both the public hearing and window to submit comments to the
FDA have both passed, the agency says it will review submitted
information and intends to follow up with its findings “around the end
of summer/early fall,†according to the Chicago Tribune.
It is unclear if the FDA will tentatively meet this deadline, but the
agency will most likely continue to be pressured by lawmakers and the
public to provide a regulatory framework around the selling and
obtaining CBD food and dietary supplements.
Posted by AGORACOM-JC
at 10:27 AM on Tuesday, December 17th, 2019
SPONSOR: PRIMO NUTRACEUTICALS INC.
(CSE: PRMO) (OTC: BUGVF) (FSE: 8BV) (DEU: 8BV) (MUN: 8BV) (STU: 8BV)
provides strategic capital to the thriving cannabis cultivation
sector through ownership and development of commercial real estate
properties. The company also offers fully built out turnkey facilities
equipped with state-of-the-art growing infrastructure to cannabis
growers and processors. Click here for more info.
Here’s Why Dollar General Has High Hopes for CBD
By: Rich Duprey
Dollar General (NYSE: DG) is jumping on the CBD bandwagon, announcing it intends to start selling products infused with cannabidiol in 1,100 stores across seven states by spring 2020
Limiting its selection of goods to topical products such as creams, ointments, bath bombs, bath salts, and face masks. Edibles are not part of the plan.
Yet where grocery stores, shoe stores, pharmacies, and wellness stores
have all previously said they, too, were joining the conga line of
retailers selling CBD products, the dollar store chain’s entry has a
greater chance of boosting its bottom line.
Image source: Getty Images.
Business is growing like a weed
Unlike many other retailers and even rival Dollar Tree, Dollar General is on fire, giving a master class in discount retailing
in the third quarter. Sales rose 9% to $7 billion on a near-5% increase
in comparable-store sales, generating a 13% rise in earnings per share.
Management also raised top- and bottom line guidance for the year.
It was tough to pick out a category that was best, as it saw
across-the-board sales increases, but it was enough for the discount
chain to know it needed to pick up the pace of expansion. Where it
expects to open 975 new stores this year, it plans on opening another
1,000 in 2020. In all, Dollar General will be involved in 20% more real
estate projects next year than it was this year.
That’s important because as it continues to reach further into all
regions of the country, getting closer to its target customer, CBD
products afford it the opportunity to accelerate that growth.
The madness of cannabis
Marijuana,
cannabis, and cannabidiol all live in a legal purgatory. Although a
number of states have legalized marijuana for personal use, it
officially remains a controlled dangerous substance at the federal
level.
Cannabis, on the other hand, essentially comprises two categories,
marijuana and hemp, with the major difference being the presence of
tetrahydrocannabinol, or THC, the psychoactive compound that gets a user
high. While hemp does contain THC, it is at very low levels and not
enough to get someone high. The 2018 Farm Bill removed hemp and hemp-derived products from its list of controlled dangerous substances.
CBD is one of over 100 compounds found in cannabis, but unlike THC,
it doesn’t get you high. Also, where marijuana has very little CBD, hemp
has a lot. Many also believe CBD has a variety of therapeutic
properties, and though some studies have seemingly backed up the claim,
there haven’t been very many studies, and the long-term implications
from its use are still unknown.
A green business
The Food and Drug Administration is slow-walking the
formulation of a coherent policy on CBD, which has put many retailers
in limbo on just how best to proceed. What the FDA was clear about in
its recent policy update, however, was that it is illegal to add CBD to
food or supplements. That’s why you see retailers opting for topical
applications of the compound.
Cannabidiol has another benefit for the retail industry in that it
enjoys over dried cannabis, or so-called legal weed. Consumers have
demonstrated willingness to pay up for the compound, and there is a
plentiful supply of CBD, suggesting profits will remain stable.
That’s an attractive feature for low-margin businesses like grocery
stores. But Dollar General, which sells merchandise at many different
price points, tends to make up in volume what it loses out in product
markups. Driving down the cost of CBD-infused products could cause
consumers to flock to its stores.
And for a discount chain, Dollar General is a relatively
high-profit-margin business. Over the past five years, its operating
margins stand at almost 9% and net margins are 6%. But compare that with
other retailers that have announced they will be selling CBD products.
Retailer
5-Year Operating Margin
5-Year Net Margin
Dollar General
8.9%
6%
Dollar Tree
8.4%
2.5%
CVS Health
5.6%
2.6%
Rite Aid
1.6%
2.1%
Walgreens
4.6%
3.5%
Kroger
2.6%
1.9%
Data source: Morningstar.
A smoking hot opportunity
The retail market is expected to be the biggest contributor
to CBD’s growth, accounting for 60% of the forecast $20 billion in
annual sales. Dollar General has the potential to bring CBD products to
more people and attract a bigger share of the market because of its
value proposition.
While there may be questions about the viability and efficacy of the
CBD in the products it offers (a question that looms over all retailers
selling CBD products), CBD has a higher chance of moving the needle for
Dollar General than it does for anyone else.
Source: https://www.nasdaq.com/articles/heres-why-dollar-general-has-high-hopes-for-cbd-2019-12-17
Posted by AGORACOM-JC
at 11:08 AM on Wednesday, December 4th, 2019
SPONSOR: PRIMO NUTRACEUTICALS INC.
(CSE: PRMO) (OTC: BUGVF) (FSE: 8BV) (DEU: 8BV) (MUN: 8BV) (STU: 8BV)
provides strategic capital to the thriving cannabis cultivation
sector through ownership and development of commercial real estate
properties. The company also offers fully built out turnkey facilities
equipped with state-of-the-art growing infrastructure to cannabis
growers and processors. Click here for more info.
Demand For Hemp, CBD Oil Could Result In A Christmas Tree Shortage
The festive season has already begun! The US market is filled with Black Friday sales and it’s the merriest time of the year.Â
But what’s interesting is the recent
news that came from Texas about Christmas trees. Retailers are claiming
Christmas trees might get sold out early in December as farmers are
inclining towards cash-growing crops like hemp that is used to derive
CBD oil- a potent and promising substance.
Hemp has been trending in the US
consumer market since December 2018 when the federal government
legalized hemp. Companies have joined the CBD bandwagon offering
numerous products ranging from CBD topicals, oils, creams, tincture, bath bombs, gummies, isolate, and what not!
According to the retailers, the most
healthy and big trees usually get sold out early in the festive season,
right around Thanksgiving. With the shortage of Christmas trees this
year, it is recommended for Texans to book their trees as soon as
possible.
With the inception of legal hemp
farming, more and more farmers are exploring the CBD industry and
investing their time in growing a cash crop with higher returns.
Companies and big cooperation firms scout hemp for their CBD products
from such farmers. Hemp is being considered as one of the most
profitable crops of the year, as it is sold off at a much higher price
as compared to other crops.
The hemp industry has grown multifold
over the past one year with CBD oil as one of its main products.
Cannabidiol is a popular ingredient now available in skincare products
with promises of increasing elasticity, promoting cell renewal and
acting as an anti-aging compound. The cannabis-based beauty products are
predicted to grab a piece of the $167 billion market.
Celebrities
are touting CBD for its benefits, including Jennifer Aniston, Olivia
Wilde, Busy Phillips, and the beauty mogul Kim Kardashian West. Even
famous athletes
such as Mike Tyson, David Wells, and KC Deane are endorsing CBD brands
with products that promise faster recovery from accidents and a good
healthy lifestyle overall.
What Makes CBD So Popular?
CBD or cannabidiol is a hemp-derived
substance that has anti-inflammatory, anti-oxidant and stress-relieving
properties. Many people have touted CBD for its health benefits such as relieving stress, anxiety, depression, insomnia, back pain, acute ache, muscle injuries, ligament ruptures, arthritis, etc. It is also a potent drug in alleviating the symptoms of life-threatening ailments like cancer, epilepsy, Alzheimer’s and Tourettes.
The US Food and Drug Administration
has approved a cannabis-based medicine named Epidiolex, an oral solution
that is used to treat two rare and severe forms of epilepsy- Dravet
syndrome and Lennox Gastaut syndrome. These forms of epilepsy are most
commonly found in children and experience numerous seizures that affect
their overall growth.
Cannabidiol is non-psychoactive in
nature which means it does not produce any harmful mind-altering
chemicals, like THC. THC or tetrahydro cannabidiol is the psychoactive
component found in marijuana and its derivate plants that is responsible
for the ‘high’ that people experience while smoking weed or hemp. It
tends to produce a euphoric feeling which can dramatically affect mental
health and might even cause permanent mental disorders.
According to federal regulations, the
maximum amount of THC per unit is 0.3%. This limit determines whether a
cannabis-based product is safe for consumption or not. Any product
containing higher than 0.3% per unit is marked as illegal and can be
confiscated by enforcement officials.
Recently, the FDA started sending out
warning letters to companies that promote their cannabis-based products
with medicinal promises or as an alternative to licensed medication.
The FDA says that there’s a lot of research and background work that
needs to be done in the field of cannabis, and promoting cannabis-based
products without any relevant study or information is plainly misleading
consumers.
The agency warns customers to
thoroughly read and be aware of the effects a cannabis-based product
might have before they buy one. Also, it is recommended to buy only from
licensed stores as their products are clinically tested, approved and
safe for use.
