MarketNewsUpdates.com News Commentary
PALM BEACH, Florida, June 27, 2017 /PRNewswire/ --
The growing legal changes in the U.S. and Canada were approved at some level of marijuana operations for both medicinal and recreational use, as well as advancements into the process of extracting the cannabis compound called CBD, has fueled a quickly rising interest in legal marijuana, cannabis and CBD based products. Recent estimates put the recreational segment alone for marijuana products at a staggering $20 billion per year. Cannabis companies in the market this week include: PotNetwork Holding Inc. (POTN), Dewmar International BMC Inc. (DEWM), MYM Nutraceuticals Inc. (MYMMF) (CSE:MYM), Hemp Inc. (HEMP) and Medical Marijuana Inc. (MJNA)
PotNetwork Holding Inc. (POTN) News - Diamond CBD Chill Gummy Line Completely Sells Out, and Manufacturing Expands to Meet Consistently Increasing Demand. PotNetwork Holding announced today that the Company's subsidiary, Diamond CBD has entirely sold out of its increasingly popular proprietary Chill Gummy line. The past six months of trade show, expo, and convention attendance have demonstrated Management's determined commitment to achieve strong results, yielding in product demand requiring significant expansion of its manufacturing operations. The Company's Chill Gummy inventory is slated to be restocked within approximately two weeks. Read this and more news for PotNetwork Holding at http://www.marketnewsupdates.com/news/potn.html
Diamond CBD has projected an $8 Million annual revenue target for 2017. As a result of dominant representation at various industry trade shows and conventions combined with its ongoing strategic publicity efforts, the Company continues to build considerable momentum, clientele and brand recognition.
PotNetwork Holding's Diamond CBD's most recent attendance at the SeeThruEquity event resulted in an equity analyst setting a possible price target for the Company's shares of $0.25 per share. Other recent road show/expo attendance included a presentation at the 7th Annual LD Micro Invitational, being a featured guest on a national radio and webcast, launching new product lines at a major New York trade show, and receiving a positive reception at the Fourth Annual Cannabis World Congress & Business Exposition, '2017 CWCBExpo', the definitive business event of the cannabis industry. The Company has also recently presented at the 2017 Marcum Microcap Conference, and attended the Southeast Cannabis Conference & Expo.
CBD Chill Gummies were introduced to the market shortly after the Company's inception. These tasty CBD Chill Gummies claim center stage within Diamond CBD's premium product line, quickly becoming the Company's most popular and delectable signature treats. Diamond's CBD infused Chill Gummy line consists of a wide range of popular flavors.
In other related industry developments:
Dewmar International BMC Inc. (DEWM) closed up over 40% on Monday with over 139 million shares traded by the market close. Dewmar recently announced its Profit Reinvestment Program™ (PREP) which was formed in 2015 to earmark up to $4,000,000 in retained earnings towards a series of synergistic business opportunities with the objective of creating diversified revenue streams for the Company. PREP™ Investments focused primarily on three sectors; these are: (1) Healthcare Services/Technologies (2) Healthcare Real Estate and (3) Entertainment/Media Investments. The Company will announce investments in each sector over a three-part series. This is Part 1 of that series and focuses on investments made in Healthcare Services/Technologies. Read the full release here: https://finance.yahoo.com/news/dewmar-international-bmc-inc-dewm-161042110.html
MYM Nutraceuticals Inc. (MYMMF) (MYM.CN) closed up over 13% at $0.5411 with trading volume north of 426,000 on the OTC Markets Monday and closed up on Monday on the CSE Canadian exchange at $0.62 trading over 7.6 Million shares by the market close. MYM recently announced it has acquired the brand 'Joshua Tree', which includes the acquisition of the domains: jtree.com, jtree.ca, joshuatreecbd.com and joshuatree.life. MYM has also filed trademark applications in the USA and Canada for Joshua Tree and plans to completely re-brand MYM-owned CBD brand 'HempMed'. The new Joshua Tree product line will be launched this year in Canada, USA and Europe and will include up to 5 new innovative CBD products.
Hemp Inc. (HEMP) finished Monday up 11.82% with nearly 20 million shares traded by the market close. Hemp recently announced that the milling portion of its industrial hemp decorticator is now online for beta testing and debugging. The disconnect switch, which connects the power to feed the 200-horse power motor on the grinder, was the final piece executives were awaiting to power up the mill. With the disconnect switch now installed, the team has powered up its hemp mill to beta test and debug the equipment. So far, the team has encountered some small software communication issues, but according to David Schmitt, COO of Hemp, Inc.'s wholly-owned subsidiary, Industrial Hemp Manufacturing, LLC, those types of issues are the norm for the milling machinery and were expected.
Medical Marijuana Inc. (MJNA) closed Monday afternoon up 2.91% on over 6.3 million shares traded by the market close. The company recently announced that its major investment company AXIM Biotechnologies, Inc. (OTC QB: AXIM), a world leader in cannabinoid research and development, filed with the United States Patent and Trademark Office (USPTO) for U.S. Application Serial Number 62/410,469, a patent of invention that involves a chewing gum composition with controlled release of cannabinoids and opioid agonists and/or antagonists for addiction and/or dependence treatment. The chewing gum may also be used for treatment of chronic pain. "We are proud of AXIM Biotech on this milestone achievement that brings the Company one step closer towards entering the $100 billion market in pain management," said Medical Marijuana, Inc. CEO Dr. Stuart Titus.
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