- Received a capital distribution of approximately $186,000 from its investment in JUUL Labs
- Altria Group Inc. (NYSE: MO) invested $12.8bn in vaping company Juul Labs, a (35% stake) valuing JUUL at $38 billion
- The global e-cig and vaporizer market is one of the fastest growing consumer markets and has been recently valued at $9.0 billion and expected to grow at a CAGR of 23.6% and reach $49 billion by the end of 2024
- APPB has a market cap of $15m US & 10m S/O
LOS ANGELES, Feb. 05, 2019 (GLOBE
NEWSWIRE) — Applied BioSciences Corp. (OTCQB: APPB), a diversified
cannabinoid therapeutics company focused on the medical, bioceutical and
pet health industries, announced that has received a capital
distribution of approximately $186,000 from its investment in JUUL Labs,
Inc. (JUUL). The company has made strategic investments in select
companies they believed to be innovators in the consumer space. The
investment remains on the balance sheet under Equity Investments, but
the company has begun a strategic review of options for the remaining
equity stake.
Altria Group Inc. (NYSE: MO) on December 20, 2018 announced it had invested $12.8bn in vaping company Juul Labs, a 35% stake valuing JUUL at $38 billion. Howard Willard, Altria’s CEO said in a statement that the move was an effort to “prepare for a future where adult smokers overwhelmingly choose non-combustible products over cigarettes.â€
JUUL has become a success story and one of the fastest growing companies in the US, growing revenue to over $1 billion in a few short years. Their brand has become synonymous with vaping and the e-cigarette market.
The global e-cig and vaporizer market is one of the fastest growing consumer markets and has been recently valued at $9.0 billion and expected to grow at a CAGR of 23.6% and reach $49 billion by the end of 2024, according to Research Nestor (www.researchnester.com).
The company continues to make select investments in companies that can help shape the product roadmap and development of new products and potential partnerships.
About Applied BioSciences Corp.
Applied BioSciences Corp. (www.appliedbiocorp.com),
is a diversified company focused on multiple areas of the medical,
bioceutical and pet health industry. As a leading company in the CBD and
Pet health space, the company is currently shipping to the majority of
US states as well as to 5 International countries. The company is
focused on select investment, consumer brands, and partnership
opportunities in the recreational, health and wellness, nutraceutical,
and media industries.
About Trace Analytics Inc.
Trace
Analytics Inc. is a leading cannabis science and technology company
with significant footprints in lab testing, research and development and
licensing. Trace Analytics was started by a group of scientists who
specialized in analytical chemistry, genetics and molecular biology.
The focus of the team is to ensure compliance with public safety
standards and end user safety. Trace Analytics is in the process of
expanding throughout the United States, and globally. With the goal of
helping the rest of the world adopt “best practices” in cannabis and
hemp testing, the company also provides expert consulting services to
legislators and regulators in many countries, states and municipalities
around the world. For more information, please visit: http://traceanalytics.com.
Contact
Email: [email protected] or [email protected]
To be added to the Applied BioSciences email distribution list, please email [email protected] with APPB in the subject line.
Official Website:www.appliedbiocorp.com / www.traceanalytics.com
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