PALM BEACH, Fla., Jan. 11, 2024 (GLOBE NEWSWIRE) -- FN Media Group News Commentary - A few years ago almost no one knew what hemp-derived CBD was. It was mainly sold by small brands online or through smoke shops as tinctures. All of a sudden, CBD is everywhere: as a staple ingredient in drinks, face creams, pet treats and is easily accessible to so many people suffering from medical conditions. CBD rides the waves of global food and health trends and natural health alternatives. A report from The Brightfield Group said: “It is no surprise to see that CBD is expected to grow to $16 billion by 2025. Especially as we see people turning to various CBD products for stress management or to promote better sleep. The wellness industry is just now picking up on the useful nature of CBD and how well it dovetails into general wellness products that are sold over the counter.” It continued: “Analyzing this market and watching it grow up has been absolutely fascinating over the last few years. In the past decade, (we have) covered a wide range of consumer markets, from foods and drinks to telecom, gaming, and even cannabis (and) have never seen anything like the explosion that we've seen in CBD, even with the bizarre legal gray area where CBD operates. What is most notable is that this market has grown almost exclusively based on word-of-mouth. Digital marketing has been heavily restricted due to the legal gray area, but the Farm Bill officially de-scheduled hemp in 2018 and has paved the way for mass retailers, CPG, ingredients, and healthcare companies to enter the space. And that is changing the game entirely.” Active companies in the markets this week include: Pressure BioSciences, Inc. (OTCQB: PBIO), Canopy Growth Corporation (NASDAQ: CGC), Tilray Brands, Inc. (NASDAQ: TLRY), Cronos Group Inc. (NASDAQ: CRON), Charlotte's Web Holdings, Inc. (OTCQX: CWBHF).
Brightfield Group continued: “CBD is effective for various conditions, while remaining natural, non-psychoactive, and provides no known serious side effects. It can be grown domestically as a substitute for tobacco and provide a much-needed cash crop for American farmers. Globally, CBD markets are popping up, with growth seen in Canada and Europe. Canada saw over $3 billion in CBD revenue in 2020 from various products ranging from prerolls, oils, edibles, brinks, and vapes. We have no rose-colored glasses in terms of the bizarre and challenging regulatory framework that surrounds this industry and it may always be two steps forward, one step back. It may come across more problematic regulations and bumps along the way, especially as delta-8 enters the scene. But there is too much momentum, too much demand, and too much potential for this industry not to continue expanding toward the forecasted $16 billion by 2025.”
Pressure BioSciences, Inc. (OTCQB: PBIO) Signs Definitive Agreement to Acquire Uncle Bud’s, Forward Integrating PBIO’s UltraShear Platform into Multiple Markets
- Strategic Merger Combines Uncle Bud’s Globally-Recognized Brand of 70 Products and 865K Member On-Line Community with PBIO’s Strong Scientific Capabilities, Technology Platforms, and Patent Estate
- Toni Braxton - Multiple Grammy Award Winner and Long-Time Uncle Bud’s Advocate - Continues as Spokesperson for the Combined Company
Pressure BioSciences, Inc., a pioneer in the development and distribution of broadly enabling pressure-based instruments, consumables, and specialty process development and testing services across global industries, including nutraceuticals, food and beverage, health and wellness, cosmetics, biotherapeutics, and more, today announced the execution of a definitive agreement to acquire globally-renowned natural health and wellness leader Uncle Bud’s. Upon the closing of the transaction, the combined company intends to become a leading provider of topicals and other consumer products, leveraging PBIO’s UltraShearTM technology platform for nanoemulsified products that deliver industry-leading speed of action and bioavailability.
Toni Braxton, multi-award-winning singer, songwriter, actress, and long-time customer and spokesperson for Uncle Buds Hemp said: “I am thrilled to be a part of this exciting acquisition of Uncle Bud's, a brand that I have loved from the beginning. Uncle Bud's has always prioritized quality and innovation, and it’s great to see them merge with a company that shares the same vision. I look forward to continuing my journey with them on this new venture and I am eager to be part of the company’s growth and other exciting things to come.”
Garrett Greller, Director of Marketing and Co-Founder of Uncle Bud’s, said: "This acquisition marks a transformative step for Uncle Bud's. With a commitment to quality, effective solutions, and an impressive lineup of celebrity partners, Uncle Bud’s has democratized Hemp & CBD wellness. Now, joined with PBIO, we are set to innovate across multiple sectors such as pain relief, sexual wellness, skin care, beverages, food, & pet care to name a few. To achieve this goal, Uncle Bud’s is leveraging PBIO’s scientifically proven UltraShear™ platform as a commitment to elevating high quality health & wellness to new heights."
Bruno Schiavi, President and Co-Founder of Uncle Bud’s, commented: "In the spirit of Uncle Bud's mission to provide trusted, affordable, and accessible wellness solutions, this merger with PBIO is a game-changer. The UltraShear platform offers a unique opportunity to develop a range of wellness products with superior bioavailability and clean-label attributes. Together, Uncle Bud's and PBIO are not only bringing innovative products to the market but also educating and leading the industry towards a brighter, healthier future."
Ric Schumacher, President and CEO of PBIO, added: “We are delighted to welcome the experience and expertise of the Uncle Bud’s team into the PBIO family, as well as their broad customer network. They bring proven skills in marrying brand creation and celebrity spokesperson superpower with planning and execution of product introductions and growth strategies. This dynamic combination is what we have been seeking to accelerate the penetration of the UltraShear technology through multiple markets. As we embrace this opportunity, we are looking at several powerful new product line opportunities that are ripe for transformative product delivery, leveraging the power of PBIO’s revolutionary UltraShear platform.”
Jeff Peterson, PBIO’s Chairman concluded: “This pivotal forward integration strategy for our UltraShear platform has been our objective for some time, and Uncle Bud’s is precisely the kind of empowering partner that we have been seeking. The integration of Uncle Bud’s into PBIO’s financials is expected to be immediately accretive and a major accelerator to PBIO’s top line revenue growth. The combined companies will be ideally positioned to attract new growth investment, rapidly strengthen the balance sheet, accelerate our path to profitability within 2024, and to catalyze our drive to uplist to NASDAQ or NYSE even earlier in 2024. Our team, and our dedicated investors, are rightfully excited over the accelerating growth opportunities now solidifying for 2024 and beyond!” CONTINUED… Read this full release and more news for Pressure BioSciences at: https://www.financialnewsmedia.com/news-pbio/
Other recent developments in the markets include:
Canopy Growth Corporation (NASDAQ: CGC) recently announced that the Company has completed the divestiture of its This Works skincare and wellness brand to Inspirit Capital, a London-based investment firm.
Headquartered in London, England, This Works offers a range of high-quality natural skincare and sleep solution products to consumers around the world. In accordance with the completed sale agreement, This Works' leadership, staff, and intellectual property will transfer to Inspirit Capital.
Tilray Brands, Inc. (NASDAQ: TLRY) recently reported financial results for its second quarter of its fiscal year 2024 ended November 30, 2023. - Irwin D. Simon, Tilray Brands’ Chairman and Chief Executive Officer, stated, “Tilray Brands is a major force at the forefront of innovation, disrupting the global CPG industry across medical and adult-use cannabis, wellness foods and snacks, and craft beverages. Our Q2 financial results demonstrate the strength of our brands, our global team, and our diversified growth strategy. We grew revenue, enhanced our capital structure, and realized operating synergies while strengthening Tilray Brands’ position as the #1 cannabis operation and brand portfolio in Canada by sales volume and market share, the European market leader in medical cannabis, and the leader in branded hemp products. We have also emerged as a disruptor in the craft beverage-alcohol industry by assembling a portfolio of highly sought-after brands that are dominating key regions across the U.S. in the Northeast, the Pacific Northwest, and the Southeast. Tilray is now uniquely positioned to become a top 12 beer and alcohol beverage company in the U.S.”
Mr. Simon continued, “Having already demonstrated success in solidifying our brands through products that connect with consumers, we will continue to deploy successful playbooks for growth across our brand portfolio and key regions in the U.S., Canada, and Europe. With each achievement and the support we have garnered from retailers, distributors, and consumers, I am confident that Tilray Brands will continue to lead and advance the global cannabis industry, disrupt the craft beer market, and fuel consumer needs in wellness foods.”
Cronos Group Inc. (NASDAQ: CRON) recently announced that it is expanding distribution into the Australian market with its first shipment of cannabis flower to Vitura Health Limited (“Vitura”) (ASX: VIT). Cronos owns approximately 10% of the common shares of Vitura, formerly known as Cronos Australia, and will supply cannabis for Vitura.
“Supplying the Australian market, which has grown significantly in the past three years, is a great milestone for Cronos as we aim to enter and expand within international markets,” said Mike Gorenstein, Chairman, President, and CEO, Cronos. “We look forward to working closely with our partners at Vitura to provide patients with high-quality cannabis products and establish our presence in Australia as a trusted cannabis partner.”
Charlotte's Web Holdings, Inc. (OTCQX: CWBHF), the market leader in full-spectrum hemp extract wellness products, and AJNA BioSciences PBC ("AJNA"), a botanical drug development company focused on mental health and neurological disorders, recently announced that DeFloria LLC ("DeFloria") commenced its First-in-Human Phase 1 clinical trial for AJA001, a full-spectrum botanical drug.
Dr. Orrin Devinsky Ph.D., the Chief Medical Advisor at AJNA Biosciences stated, "Our phase 1 entrance marks a critical milestone in AJA001's clinical timeline and advances a full-spectrum cannabinoid formulation into rigorous clinical trials that are essential to advance medical science. We are proud of our team's hard work reach this point, and I am excited to help develop the Phase 2 program for this new drug."
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