PALM BEACH, Florida, June 27, 2018 /PRNewswire/ --
FN Media Group News Commentary
There's no doubt that cannabidiol or CBD has seen a remarkable increase in popularity across the globe. The popularity is sure to grow even more as the U.S. Food and Drug Administration (FDA) approved the use of a drug derived from marijuana for the first time Monday, giving the go ahead to treat two rare forms of epilepsy with the compound cannabidiol, also known as CBD, found in hemp and marijuana. The FDA approved GW Pharmaceuticals PLC-ADR 's (NASDAQ:GWPH) Epidiolex for the treatment of epilepsy, specifically for people who suffer with Lennox-Gastaut and Dravet syndromes. This milestone could spur more research into a drug that remains illegal under federal law, despite growing legalization for recreational and medical use. Active companies in the markets include: PotNetwork Holdings Inc. (OTC:POTN), Cronos Group Inc. (NASDAQ:CRON) (TSX:CRON), Hemp, Inc. (OTC:HEMP), Canopy Growth Corporation (NYSE:CGC) (TSX:WEED).
PotNetwork Holdings Inc. (OTCPK:POTN) BREAKING NEWS: PotNetwork Holdingsis announces that the Company is in the process of filing an amendment to its articles of incorporation with the state of Colorado for a name change from PotNetwork Holdings, Inc. to "BioTech Hemp, Inc. ". This name change reflects the Company's focus on Diamond CBD's sales momentum and expanding product lines, which better reflects its current and future business strategy and industry scope. Following the filing with the state of Colorado, the Company plans to file for a name listing and trading symbol change with FINRA.
As revenues year-to-date for 2018 already exceed $10 million, the Company's repositioning initiative is designed to signal to the market its mission to be a continually thriving, socially-responsible family of brands dedicated to strengthening its evolving leadership position in the distribution and marketing of CBD products. This filing follows the recent announcement that its Board of Directors has directed the Company's counsel to prepare a Form 10 to be filed with the Securities and Exchange Commission, to become a fully reporting issuer with the SEC. This action is fundamental to the Company's efforts to demonstrate heightened transparency to its investors and bring the Company greater visibility and credibility before a substantially larger group of qualified investors. In addition, once the Form 10 filing is completed, the Company plans to apply to OTC Markets for an uplisting to the OTCQB® Venture Market.
"This name change reflects our clear leadership position in the CBD industry as the market evolves. Demand continues to expand in every sector, and as we broaden the scope of our reach, our name will mirror who we are, the nature of the industry we serve, and what our exciting future holds," stated Richard Goulding, M.D., PotNetwork Holdings' CEO. This is the Company's next milestone in its long-term strategy of achieving a NASDAQ Capital Market listing in the years ahead. Read this and more news for POTN at: http://www.marketnewsupdates.com/news/potn.html
In other industry developments and market performances of note:
Cronos Group Inc. (NASDAQ:CRON) (TSX:CRON.TO) announced this week that it has entered into a strategic distribution partnership with Delfarma Sp. Zo.o ("Delfarma"). Founded in 2004, Delfarma is a privately owned pharmaceutical wholesaler and was the first company in Poland to introduce international parallel import of medicinal products from European Economic Area countries. Delfarma distributes directly to over 5,000 pharmacies and more than 200 hospitals, a distribution network that reaches approximately 40% of the Polish domestic market.
Hemp, Inc. (OTCPK:HEMP), a global leader in the industrial hemp industry with the largest multipurpose industrial hemp processing facility in the western hemisphere, late last week announced the company was featured in an article by The Denmark News regarding Wisconsin's burgeoning hemp industry. In Wisconsin, hundreds of farmers are currently planting hemp on more than 2,000 acres. This is the first time in decades that farmers in Wisconsin have been able to plant hemp following the state's passage of a law to grow industrial hemp late last year. The article, "Hemp Industry Taking Root In Wisconsin," details the many uses for hemp and how allowing the cultivation of hemp will allow farmers to diversify their portfolio of crops leading to a boost in revenue streams.
Canopy Growth Corporation (NYSE:CGC) (TSX:WEED.TO) announced this week the addition of well-respected cannabis industry leaders Kirk Tousaw and Mat Beren to its West Coast bench. Kirk and Mat will provide consulting services and collaborate with the Company as it continues to enhance quality while also supporting advocacy and community engagement. "The addition of Kirk and Mat further strengthens our team in British Columbia and we look forward to collaborating with these well-known industry leaders,'' said Mark Zekulin , President, Canopy Growth. "Advocacy and quality are central to a responsible cannabis industry and to bringing the best products to market, we welcome their combined expertise as we continue to expand our business around the country."
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