Cannabis Statistics

One in Seven Americans are Now Using CBD

Financialnewsmedia.com News Commentary

PALM BEACH, Florida, Oct. 31, 2019 /PRNewswire/ -- Demand for CBD-rich consumer products has been explosive in the U.S.  In fact, right now, one in seven Americans say they use CBD products, says a recent Gallup poll. However, those numbers are likely to increase as more CBD makes its way on to many more shelves of major retailers.  In fact, the Brightfield Group estimates the U.S. CBD product market alone to be worth over $23.7 billion by 2023, as CBD finds its way into more consumer product categories including  food and beverage, pharmaceuticals, cosmetics, and health and wellness. That's leading to a wide range of opportunity for companies including Veritas Farms Inc. (OTCQB:VFRM), Innovative Industrial Properties Inc. (NYSE:IIPR), Trulieve Cannabis Corp. (CSE:TRUL)(OTCQX:TCNNF), Green Thumb Industries Inc. (CSE:GTII)(OTCQX:GTBIF), and Planet 13 Holdings Inc. (CSE:PLTH)(OTCQX:PLNHF).

Veritas Farms Inc. (OTCQB:VFRM) BREAKING NEWS: Veritas Farms Inc. just announced that the company has released a full-spectrum hemp infused sports cream in a 2oz convenient squeeze tube. Veritas Farms' Sports Cream is specially formulated by compound pharmacists to achieve with long lasting absorption designed to help minimize recovery times and support post-work out recovery. This represents Veritas Farm's first product tailored specifically to athletes and will help the company break into a major growth area. Each 2oz tube contains 600mg of farm-to-home full spectrum hemp oil and its convenient size and tube format make it great for travel and easy to apply.  "By focusing on expanding into the lucrative athletics niche, Veritas Farms is continuing to prove its credentials as an innovator in the full-spectrum-hemp field." explained CEO and co-founder Alexander Salgado "Athletes require fast-acting and effective products in order to reach their maximum potential and our new Sports Cream provides just that. "  The Company will showcase and sample the new Sports Cream to consumers this weekend at its booth at the Malibu Marathon, which the Company is a sponsor of.

Other cannabis-related developments from around the markets include:

Innovative Industrial Properties Inc. (NYSE:IIPR) announced it will report results for its third quarter ended September 30, 2019 after the market closes on Wednesday, November 6, 2019.  Alan Gold, Executive Chairman, Paul Smithers, President and Chief Executive Officer, and Catherine Hastings, Chief Financial Officer, will host an investor conference call at 10:00 a.m. Pacific Time on Thursday, November 7, 2019, to discuss the company's financial results and operations for the third quarter 2019.