Point Roberts WA, Delta, BC -- May 28, 2020 -- InvestorsHub NewsWire -- Investorideas.com, a leading investor news resource covering hemp and cannabis stocks releases a special snapshot reporting on the continued growth in sales and product offerings in the US hemp industry and how this traction is beginning to attract outside investment.

Earlier this month, SinglePoint Inc. (OTCQB:SING) started their Q2 with strong numbers achieving over $1,000,000 in sales throughout Q1 a 309% increase and a focus on continued growth. After evaluating reports for Q2, SinglePoint’s Hemp vertical has been on track to double sales in its second quarter alongside the launch of 1606 Hemp six-pack counter top display. 1606 Hemp has seen a sales growth rate of 133% this quarter over the previous, a 233% growth in sales up to this point of the month compared to the previous month at the same point.  The company has placed a focus on self-generated in-store placement by hiring professional sales representatives to acquire new stores for the sales of its products over the next four weeks. 1606’s goal is to grow by more than 250 retail accounts throughout multiple states, which the Company surpassed in the first couple weeks by placing product in over 400 stores throughout 20 states.

According to management, stores are selling through product quickly and many have already reordered additional 1606 Hemp inventory.

As the company continues to see success, management believes 1606 Hemp will be able to provide approximately $2,750,000 to $5,500,000 in revenue selling to just 1,000 stores.  “As the roll out is successful and we achieve our goals over the next four weeks, 1606 Hemp will bring on additional individuals to scale up to as many as 2,500 stores as quickly as possible in order to achieve reorders from 1,000 stores. Management believes the current total addressable market is approximately 125,000 locations or more.”

“I've been trying to get friends and family to make the switch to hemp for years, your product is changing a lot of hearts. Thank you”
- Al, 1606 Hemp Customer

1606 Hemp is working to become the leading recognized brand in the combustible hemp market which is the second fastest growing market in the hemp category. The big differentiator for 1606 Hemp is the ability to place a countertop display unit at retailers across the nation. “While others are working to dominate the online market, we have a general belief this type of consumable product will continue to be bought in convenience stores, smoke shops and bodegas throughout the nation.” However, the company provides an amazing online experience for consumers to purchase 1606 Hemp and has amassed an online following through social channels reaching over 17,000 followers on Instagram and driving traffic to its online site at 1606Hemp.com

BDS Analytics and Arcview Market Research project that the collective market for CBD sales in the US will surpass $20 billion by 2024 while New York-based investment bank Cowen & Co, estimates that the market could pull in $15 billion by 2025. The combustible hemp market currently represents approximately 2% of the overall CBD market, but with a 250% growth from 2017 to 2018, Brightfield Group, a Chicago-based cannabis market research firm, identifies dried and combustible hemp flowers as one of the fastest-growing segments of the CBD market.  With the passage of the 2018 Farm Bill and the mainstreaming of CBD hemp, the market is growing rapidly. There is a significant need for reliable suppliers with the capacity to move products.

SinglePoint Inc. (OTCQB: SING) Greg Lambrecht CEO and Chairman discussed the 1606 Hemp in a new video update – watch it here: https://www.youtube.com/watch?v=D6FxKUxQo6Y

Hemp, Inc. (OTC: HEMP) has also been showing strong growth, having announced recently that sales to date from their premium hemp flower, Pre-98 OG Bubba Kush, have surpassed their $1,000,000 groundbreaking milestone.  The Company has reached $1,035,817.04 (up $55,000 from sales reported in its last press release). That’s a total of $1,035,817.04 over the past ten weeks and six days ($265,200 during the first quarter and $770,617.04, to date, in the second quarter). The Company expects to hit groundbreaking milestones each week (maybe even $1,000,000 a week) due to the explosive demand for its high quality hemp flower. The premium Pre-98 OG Bubba Kush is just one of the many bio-diverse hemp products the Company produces, among hemp for bioplastics and LCM (Lost Circulation Material).
Hemp, Inc.’s CEO, Bruce Perlowin, admits it was very frustrating and full of delays with sales for about two months due to the COVID-19 pandemic but says the Company is now ‘full speed ahead’.  “Our Pre-98 OG Bubba Kush hemp flower is exploding.  We’re in full swing and are on track to be able to sell our King of Hemp™ pre-rolls in all 50 states. We’re also beginning our mass marketing campaigns so I’m certain we will have revenue in the millions to report for the second quarter and beyond. At this point, I wouldn’t be surprised if we hit $1,000,000 weekly. It’s definitely possible.”
Hemp Inc has bi-coastal processing centers, including the 85,000 square foot multipurpose industrial hemp processing facility on 9 acres in Spring Hope, NC, a 55,000 square foot state-of the art local processing center in White City, Oregon, a 500-acre hemp growing Veteran Village Kins Community in Golden Valley, Arizona, two model “Small Family Hemp Farms” in North Carolina and Arizona, a pre-roll blending manufacturing facility in Las Vegas, NV, and a 5,000 square-foot retail store (The King of Hemp Store™) in Kingman, Arizona, Hemp, Inc. has a few more infrastructure footprints to create but other than that, it’s full speed ahead for the Company.
Charlotte's Web (TSX:CWEB) (OTCQX:CWBHF), one of the most well known CBD companies in the US, has also achieved another milestone in its continued commitment to innovation and consistency in hemp genetics. The Company has earned US utility patent U.S. 10,653,085, its second US patent for hemp genetics. This patent is for 'CW1AS1', a new hemp variety created by company co-founder Joel Stanley and Sr. Director of Cultivation R&D, Bear Reel.  The patent takes Charlotte's Web's premier proprietary genetics to the next generation, and builds a strong wall of protection around it, and the products made from it.

"This 'CW1AS1' patent gives Charlotte's Web the highest level of protection for our proprietary genetics and ensures that Charlotte's Web products will continue to be available to the thousands who use them in a form that is consistent and provides the same user experience time and time again," said Deanie Elsner, Charlotte's Web CEO and President.

Patents on hemp genetics are a new frontier, and very few patents in this sector have been issued to date.  Charlotte's Web, the world's largest vertically integrated hemp company, has been at the forefront of this new frontier in hemp patents and will continue to invest in its breeding program and in the science of hemp to ensure a consistent and high-quality supply is available. 

"This patent recognizes the progress our breeding program has made to assure our farmer partners that the plants they grow will yield better and have a high level of phytocannabinoids," said Reel.

Charlotte's Web's flagship Original Formula was the first CBD wellness product to be sold nationally to consumers. Before Charlotte's Web was officially founded in 2013, there was a waiting list of more than 15,000 individuals for Original Formula, which uses the same proprietary phytochemical profiles produced by the now patented 'CW1AS1' hemp variety.

Aurora Cannabis (TSX: ACB)(NYSE: ACB) has seen a massive stock jump in the last few weeks, climbing more than 30 per cent last Thursday following the announcement of a deal to expand the company’s reach south of the border.
The Edmonton-based company is set to acquire all issued and outstanding membership interests of the Massachusetts-based CBD brand Reliva for US$40 million. The deal also includes a potential earn-out of up to US$45 million in cash or stock based on performance.
Aurora Cannabis Inc. and Reliva, LLC announced that they have entered into an agreement pursuant to which Aurora will acquire all of the issued and outstanding membership interests of Reliva. Under the terms of the agreement, members of Reliva will receive approximately US$40 million of Aurora common shares.  The transaction also includes a potential earn-out of up to a maximum of US$45 million payable in Aurora shares, cash or a combination thereof, over the next two years contingent upon Reliva achieving certain financial targets. The structure of the earn-out is designed to align risk and reward between Aurora shareholders and Reliva management to focus on continued strong operational and financial execution. The transaction is expected to close, subject to customary closing conditions, in June 2020. It is anticipated that the transaction will be immediately accretive to Aurora on an Adjusted EBITDA basis, consistent with

Aurora's objective is to drive towards Adjusted EBITDA profitability in its fiscal first quarter of 2021. The transaction will combine Aurora's leading Canadian recreational brands, and Canadian and European medical market position with the leading U.S. hemp-derived CBD brand in retail stores. Consistent with the announcement of Aurora's business transformation plan in February 2020, the Company has aligned its US investment strategy with the goals of the transformation plan, namely: financial discipline, operational focus, and strong execution. The transaction represents the culmination of a multi-month strategic evaluation of the US hemp-derived CBD industry. Reliva stood out among a lengthy list of potential partners for its: (1) focus on regulatory, testing and compliance protocols; (2) proven management team with extensive experience selling and marketing regulated consumer packaged goods; (3) deep relationships with critical trade partners that provide a US national distribution footprint; and (4) financial discipline and track record of growth and profitability. Together with Reliva, Aurora is expected to be positioned as a meaningful player in the United States, the world's largest cannabinoid market.

Aurora said it expects the American CBD market could reach US$24B by 2025. However, the company’s move south comes at a time of regulatory uncertainty following the federal decision to loosen restrictions on hemp production two years ago.
The US Food and Drug Administration is treading a cautious path. Currently companies are not allowed to add CBD to food, drinks or cosmetics. The agency has been cracking down on companies that do so. That hasn’t stopped a wide range of edible and beverage products targeting wellness-minded consumers from gaining mass popularity. 
“The consumer CBD industry faces temporary challenges in the U.S., but the industry has long-term upside, valuations have pulled back, and we think Reliva has a unique channel and price positioning that allowed it to perform quite well pre-COVID,” Cantor Fitzgerald analyst Pablo Zuanic wrote in a note to clients on Thursday.
“Aurora has the ability to start building its infrastructure out to capitalize on the potential for a more benign FDA environment on CBD and THC legislation that makes it federally permissible to operate domestically,” Cowen analyst Viven Azer wrote in a research note.
As more companies continue to see strong sales, high consumer demand and focus more on premium high quality products, there is no doubt that CBD/hemp will continue to flourish, even amidst regulatory uncertainty.
 
About Investorideas.com - News that Inspires Big Investing Ideas https://www.investorideas.com/About/

Follow us on Twitter https://twitter.com/Investorideas
Follow us on Facebook https://www.facebook.com/Investorideas
Follow us on YouTube https://www.youtube.com/c/Investorideas
Download our Mobile App for iPhone and Android 
Join our Investor Club https://www.investorideas.com/membership/

Disclaimer/Disclosure: Investorideas.com Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses.  Disclosure: this news article featuring SING is a paid for news release on Investorideas.com – (two thousand four hundred) More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com Global investors must adhere to regulations of each country.

Contact Investorideas.com
800-665-0411






 

Aurora Cannabis (NYSE:ACB)
Historical Stock Chart
From Sep 2020 to Oct 2020 Click Here for more Aurora Cannabis Charts.
Aurora Cannabis (NYSE:ACB)
Historical Stock Chart
From Oct 2019 to Oct 2020 Click Here for more Aurora Cannabis Charts.