SEATLE, WA, Jan. 16, 2018 (GLOBE NEWSWIRE) --
CFN Media Group ("CannabisFN"), the leading creative agency and media network dedicated to legal cannabis, announces publication of an article discussing the global opportunities in the market for cannabidiol (CBD) extracts and how Corix Bioscience Inc. (OTCQX: CXBS) aims to become a leader in the industry with existing hemp farming operations and extensive distribution capabilities.
CBD’s Widespread Appeal
Cannabidiol has become increasingly popular over the past couple of years. Unlike tetrahydrocannabinol (THC), its psychoactive cousin, CBD doesn’t produce the ‘high’ that concerns most regulators, but it does provide numerous potential medical benefits. CBD has demonstrated the potential to address many medical conditions, including inflammatory diseases and neurological diseases, by influencing the human endocannabinoid system.
ProjectCBD lists over 50 different medical conditions where CBD may be an effective treatment option, including everything from acne to diabetes to spinal cord injury. Meanwhile, the liberalization of cannabis laws has also opened the door for researchers: Google Scholar includes over 2,400 research papers published in 2017 that contain a mention of ‘cannabidiol’ while more than 100 have already been published this year.
While CBD-based pharmaceuticals are still in development, CBD oil has become a popular supplement. Google Trends shows a significant spike in consumer search traffic for the term ‘cbd oil’ over the past several years. While most of these searches come from the United States, Ireland, the United Kingdom, Canada, Puerto Rico, Australia, South Africa, the Netherlands, and other regions around the world have also seen a pick-up in traffic.
Research and Markets projects that the global CBD oil market will grow at a 39.19 percent compound annual growth rate between 2017 and 2021 driven by the growing awareness of possible health benefits. Similarly, the Hemp Business Journal believes that the global market for CBD will reach $2.1 billion by 2020, including $450 million from hemp-derived CBD products that are legal in most countries around the world.
Corix Looks to Capitalize
Corix Bioscience aims to become the largest tissue culture propagator of cannabidiol (CBD) and cannabis genetics. With a 160-acre hemp farm located in Nevada that Corix will farm itself, the company is also working with several other farmers to contract farm their hemp for Corix. Under the program, Corix delivers 30 day-old plantlets to the farm. The farmer then plants the plantlet and grows to harvest. The farmer is then paid by yield. “It’s a win-win for us and the farmer,” stated Michael Ogburn, CEO of Corix Bioscience Inc. “Farmers usually make about $600 per acre per year growing produce under this basic program. With us they can double or even triple their income.”
The company creates highly standardized hemp-based CBD products that are THC-free. Management expects to harvest roughly 1,500,000 pounds of dry hemp this year for extraction into CBD oil and other cannabinoid compounds at its research and development facilities.
While there are many CBD brands out there, Corix Bioscience's newly acquired global distribution platform sets it apart from the competition. The company recently acquired Pharmaceutical Development Corp., which has a manufacturing facility in Lesotho. This is significant because the landlocked country in Southern Africa has an export treaty with approximately 30 countries covering cannabis and CBD oil.
“This is a defining moment for our company,” said Michael Ogburn following the PDC acquisition. “It allows us to grow and manufacture cannabis products in Lesotho and distribute our products to dozens of other countries. It will allow us to accelerate our growth very quickly. Most U.S. cannabis companies have a hard time growing because they can't transport cannabis across state lines. That means if they are growing and manufacturing in say, California, and want to expand their product into Nevada, they would have to get licensed, build a grow and an entire laboratory to manufacture the products. In Lesotho, we can set up one facility and ship to over 30 countries. The EU alone is expected to sell 22% more cannabis than the USA. This deal will help us grow into the powerhouse company we anticipate to be in 2018.”
Please follow the link to read the full article: http://www.cannabisfn.com/global-cbd-market-yields-great-opportunities/
For more information, visit the company’s website at www.corixbioscience.com.
About CFN Media
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Disclaimer:
Except for the historical information presented herein, matters discussed in this release contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Emerging Growth LLC, which owns CFN Media and CannabisFN.com, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. Emerging Growth LLC may from time to time have a position in the securities mentioned herein and may increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice. Emerging Growth LLC may be compensated for its services in the form of cash-based compensation or equity securities in the companies it writes about, or a combination of the two. For full disclosure please visit: http://www.cannabisfn.com/legal-disclaimer/