2018 was a year of milestones for the cannabis markets, including Canada becoming the first Group of Seven country to legalize recreational use and the number of U.S. states where medical or recreational marijuana is legal rising to 33 and 10, respectively, along with the District of Columbia. A watershed moment happened in the industrial hemp space too, with the passage of the U.S. Farm Bill 2018 removing the plant from the federal controlled substance list, effectively making it a legal agricultural commodity as of the start of 2019.
Hemp is a variety of the cannabis sativa plant that does not contain any meaningful levels of THC (tetrahydrocannabinol), the marijuana component responsible for the psychotropic high. What it does contain is CBD (cannabidiol), a non-intoxicating compound of cannabis that is widely trumpeted for a litany of therapeutic benefits, including reducing pain, nausea, anxiety and inflammation.
The legalization of industrial hemp will certainly make CBD one of the most active areas within the broader cannabis markets in 2019.
As noted by CBD Unlimited (OTC: EDXC) Chairman and CEO Todd Davis in a recent interview with SNNLive, sourcing is something that consumers need to be aware of because there will be a battery of companies jumping on the bandwagon to sell something that is hot. Eventually, the Farm Bill will help correct any supply/demand imbalance, at which time quality of product will again move to the foreground.
CBD Unlimited has been a pioneer in the CBD space, building its portfolio of products on science, science that shows CBD attaches to the CB2 receptor. The CB2 receptor is distributed throughout the entire body of humans and animals. By attaching to the CB2 receptor, CBD activates a channel that alleviates or stops pain without unpleasant side effects.
The company offers an array of CBD products for both people and their pets. The product lineup includes oils, concentrates, topicals, beverages and – for dogs and cats – Phyto-Bites CBD soft chews. Because the company specifically extracts and isolates only the CBD molecule from industrial hemp, their products are legal in all 50 states.
While there is a broad spectrum of applications, the company’s target market is adults over age 50 in a state of chronic inflammation and pain that are looking for a natural solution without the risks associated with pharmaceutical drugs.
Davis keeps CBD in perspective, viewing it not a miracle cure that is a replacement for everything, but as a support mechanism that is changing the quality of life for many people. His company has kept the business model simple (in a manner of speaking), taking a molecule that is known to have remarkable therapeutic benefits and turning it into something that everyday people can use and doctors can adopt into their practices.
Against the backdrop of a favorable consumer environment, the growth driver for CBD Unlimited is distribution. A pilot program pushed the company over its first target of 1,000 distribution points in 2018. To help with the initiative to reach 5,000 distribution points in 2019, Davis recruited Dustin Sullivan as Chief Operating Officer. Sullivan brings his experience from 18 years at Walgreens where he trained and work with people throughout the big box pharmacy business. Sullivan’s expertise has resulted in the company getting in front of the biggest buyers in the U.S. as part of the 2019 target and next milestone of at least 30,000 distribution points in the next one-two years.
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