Friday Night Expands Distribution into California -- CFN Media
January 03 2018 - 9:00AM
CFN Media Group ("CannabisFN"), the leading creative agency and
media network dedicated to legal cannabis, announces publication of
an article covering Friday Night Inc. (CSE: TGIF) (CNSX:
TGIF) (TGIF.CN) (OTCQB: TGIFF) and its presence in both of the
booming Nevada and California markets for hemp-based cannabidiol
products.
California’s Hemp Industry
The hemp-based cannabidiol (CBD) market is
projected to become a billion-dollar market in just three years,
according to the Brightfield Group. After crossing the $170
million mark in 2016, the analyst projects a 55% compound annual
growth rate over the next few years. California could experience
some of the most significant growth given the legalization of both
medical and adult-use cannabis next year - a move that could
increase consumer exposure to cannabinoids.
“One of the most surprising things we found during
this research was how many companies are currently operating in the
space, and how few of them are generating significant revenue,”
said Brightfield Director of Research Bethany Gomez. “Essentially,
everyone is trying to do hemp, but only a handful are doing it
well. It’s seen as easy because it can be sold online but, with
restrictions on traditional marketing, it is very difficult to
connect with your core customer.”
The hemp-based CBD market is a highly-fragmented
space where distribution is a key bottleneck. Investors interested
in the space should therefore seek out established companies that
have existing distribution channels for their products,
particularly in states like California that are likely to see a
sharp increase demand next year. Furthermore, investors may want to
consider companies that are diversified across other areas of the
market to reduce risk.
Expanding into California
Friday Night Inc. (CSE: TGIF) is a Canadian public
company that owns both cannabis and hemp-based assets in Las Vegas,
Nevada. In addition to its 91% owned Alternative Medicine
Association - a licensed medical and adult-use cannabis cultivation
and production facility - the company owns 91% of Infused MSG,
which produced hemp-based CBD products using high quality organic
botanical ingredients that are thoughtfully crafted into premium
products.
On December 15, the company announced that its
Canna Hemp product line would be sold to cannabis dispensaries and
other retail outlets in the State of California. Management
indicated that it has already received multiple purchase orders
from several California retailers, which represents the first step
in its efforts to expand its brand into California. The state is
widely seen as becoming a hub for nationwide cannabis brands given
its large size.
Friday Night’s current distribution into existing
dispensaries across California solves a key issue facing many other
hemp-based CBD manufacturers. The exposure of its brands in these
retail locations could also increase awareness and further
differentiate its products from other companies developing
CBD-based supplements. With a cannabis cultivation arm, the company
is uniquely positioned to build upon these relationships and create
diverse revenue ahead.
Please follow the link to read the full
article: http://www.cannabisfn.com/friday-night-expands-distribution-california/
For more information, visit the company’s website
at www.fridaynightinc.com.
About CFN Media
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CFN Media
Frank Lane
206-369-7050
flane@cannabisfn.com
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