This is Why CBD Companies are Just Beginning to Expand to International Markets
Financialnewsmedia.com News Commentary
PALM BEACH, Florida, Nov. 14, 2019 /PRNewswire/ -- By 2026, the global cannabis market is expected to hit $57 billion, says Adroit Market Research. In addition, according to BDS Analytics, as legalization spreads, the global market is expected to reach $40.6 billion by 2024. Granted, estimates vary, but it's very clear the cannabis has plenty of growth in store. Better, the European market is on course to grow 400% over the next four years, according to the Brightfield Group. As the global community wakes up to the cannabis opportunity, it's opening a wide range of opportunity for cannabis companies that have already established launching cannabis products including The Yield Growth Corp. (CSE:BOSS)(OTCQ:BOSQF), CannTrust Holdings Inc. (NASDAQ:CTST), Zenabis Global Inc. (OTCPK:ZBISF)(TSX:ZENA), Harborside Inc. (CSE:HBOR)(OTC:HSDEF) and Valens GoWorks Corp. (TSX-V:VGW)(OTCQX:VGWCF).
The Yield Growth Corp. (CSE:BOSS)(OTCQB:BOSQF) BREAKING NEWS:The Yield Growth Corp. just announced that pursuant to its previously announced distribution agreement with Melorganics it has shipped thousands of Urban Juve products to Greece this week, marking its first export of products to Europe. Further, Yield Growth subsidiary Urban Juve has agreed to expand the exclusive distribution territory granted to Melorganics to include Bulgaria, Romania and Serbia, in addition to Greece and Cypress. "We are impressed with the speed that Melorganics was able to get all our products approved for sale in Greece," says Yield Growth CEO Penny White, "We are excited to begin selling our Urban Juve products in pharmacies throughout Greece, Cypress, Bulgaria, Romania and Serbia as we work with Melorganics to introduce hemp products in these countries." Yield Growth subsidiary Urban Juve has received compliance certificates registering 11 of its products with the European Union. On November 10, 2019 Yield Growth subsidiary Urban Juve Provisions entered into a definitive agreement with 699598 Ontario Corp. O/A Melorganics Hellas "Melorganics" for exclusive distribution of the Urban Juve brand of hemp powered skin care products granting exclusive distribution rights to Melorganics for a 3 year term provided certain minimum annual sales are met. Pursuant to the agreement, Melorganics has agreed to place its first purchase order for these territories by December 31, 2019. As proposed legislation across the European Union continues to bring cannabis closer to the mainstream, high-end cannabis products are gaining popularity. With a total population over 508 million, the EU represents massive market potential for Urban Juve products.
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