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CBD E-Commerce Sales are Booming with the World Battling COVID-19

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With the spread of COVID-19, CBD e-commerce sales have been explosive. In fact, a new survey from the Brightfield Group suggests up to 40% of consumers plan to use CBD far more frequently because of COVID-19, with 15% planning to use a higher dose, as highlighted by Food Navigator USA.

“There is no question that with much of the country recommending to shelter at home and a pandemic sweeping the globe, anxiety levels are skyrocketing,” says Brightfield Group’s managing director Bethany Gomez. “Anxiety is the #1 ailment of CBD users – 53% of them report it. Depression and insomnia, which likely to spike over the coming months, are #3 & 4. For those that truly need CBD and are relying on it for their health and wellbeing, consumption is expected to continue or increase.”

In addition, the analysts found that many consumers are also turning to self-care indulgences, which is likely to boost some of the CBD self-care products, as well. All of that is creating sizable opportunity for companies such as Mota Ventures Corp. (CSE:MOTA)(OTC:PEMTF), Charlotte’s Web Holdings Inc. (OTC:CWBHF) (CN:CWEB), Canopy Growth Corporation (NYSE:CGC) (TSX:WEED), Innovative Industrial Properties Inc. (NYSE:IIPR), and The Green Organic Dutchman (TSX:TGOD)(OTC:TGODF).

Mota Ventures Corp. (CSE:MOTA)(OTC:PEMTF) BREAKING NEWS: Mota Ventures Corp.  provided an update on the recent progress that is fueling the increase in sales for products under its First Class CBD brand. The Immune Support product line has been received exceptionally well by consumers since it launched on March 14, 2020 and has been a significant driver of growth in March. The total number of customers acquired by First Class CBD in March 2020 is 20,959, including 6,419 immune customers with an initial average spend of Cdn$218.40 per customer.

The Company will be launching a new brand, Nature’s Exclusive CBD on April 6, 2020. The new Nature’s Exclusive CBD brand will introduce a line of Immune Support and CBD products with a higher content of CBD. The Company also anticipates releasing March 2020 financial results for First Class CBD in the next few weeks.

“The month of March has been exceptional, with new customer signups exceeding expectations. We believe this is a testament to our ability to adapt to the fast-paced eCommerce sector and ability to identify upcoming trends in consumer demand. I am very excited with the rapid progress and look forward to releasing March results in the coming weeks” stated Ryan Hoggan, CEO of the Company. The initial average spend per customer was translated from US dollar into Canadian dollar using the Bank of Canada average exchange rate of 1.3953 for March 2020.

Other related developments from around the markets include:

Charlotte’s Web Holdings Inc. (OTC:CWBHF)(CN:CWEB) announced that David Panter has joined the Company as Chief Operating Officer, effective March 30, 2020. Mr. Panter brings over 20 years of broad global supply chain experience at leading cosmetic, agriculture, pharmaceutical, medical device and consumer packaged goods (CPG) companies, including Estée Lauder Company, Luxottica Retail, Campbell Soup Company, and Tyco Healthcare/Covidien. Most recently, at Estée Lauder Company, Mr. Panter was responsible for optimizing the global supply chain including the manufacturing locations and distribution networks in North America, Europe, Asia Pacific and Latin America. Throughout his successful career, he has led manufacturing facilities, quality, distribution and warehouse locations across multiple product categories and has been responsible for transforming operations through continuous improvement, coaching, strategy development and tactical execution.

Canopy Growth Corporation (NYSE:CGC)(TSX:WEED) announced that Ms. Terry Yanofsky and Mr. David Lazzarato have been appointed to the Company’s Board of Directors, effective immediately. “It is my pleasure to welcome both Terry and David to the board,” said Judy Schmeling, Chair of the Board of Directors, Canopy Growth. “Their leadership and experience in highly competitive industries will be instrumental as we focus the business and evolve into an execution-driven operating company. I also want to thank outgoing board members, Peter Stringham and John Bell, for their contribution and service to the board during times of rapid expansion and growth.” John Bell is the former Lead Director and Peter Stringham Chaired the Corporate Governance, Compensation and Nominating Committee. Ms. Yanofsky has extensive experience working with big-name retailers and is respected for her strategic leadership and disciplined approach to driving revenue. She most recently served as the Senior Vice-President, General Manager of Sephora Canada. Prior to joining Sephora, Ms. Yanofsky worked at L Brands where she was the country manager for Bath & Body Works Canada. She brings over 30 years of experience working with rapidly growing big-name global retailers.

Innovative Industrial Properties Inc. (NYSE:IIPR) announced that it closed on the acquisition of a property in Athol, Massachusetts, which comprises approximately 199,000 square feet of industrial space. The purchase price for the Massachusetts property was approximately $26.8 million (excluding transaction costs). Concurrent with the closing of the purchase, IIP entered into a long-term, triple-net lease agreement with a subsidiary of Ascend Wellness Holdings, LLC (AWH) for continued operation as a licensed cannabis cultivation and processing facility. AWH is expected to complete tenant improvements for the property, for which IIP has agreed to provide reimbursement of up to approximately $22.2 million. Assuming full reimbursement for the tenant improvements, IIP’s total investment in the property will be $49.0 million. The lease provides for an initial annualized aggregate base rent of 13.5% of the sum of the initial purchase price and tenant improvement allowance, subject to a phase-in of the base rent associated with the tenant improvement allowance at the beginning of the term. As the pioneering real estate investment trust (REIT) for the medical-use cannabis industry, IIP partners with experienced medical-use cannabis operators and serves as a source of capital by acquiring and leasing back their real estate assets, in addition to offering other creative real estate-based capital solutions.

The Green Organic Dutchman (TSX:TGOD)(OTC:TGODF) announced that it has received Health Canada’s approval for the licensing of the final component of its Ancaster site, the processing facility. The licence amendment includes approval of a state-of-the-art production facility designed to support processing activity including dedicated spaces for packaging of flower, oils, pre-rolls, and several Cannabis 2.0 products. This final phase of expansion at Ancaster enables TGOD to reduce its reliance on third parties, accelerating its supply chain timelines for product launches. Receiving the licence amendment for this large facility also enhances TGOD’s quality assurance capabilities and marks a key milestone in eliminating bottlenecks in its production ramp up. The licence amendment is valid until August 16, 2022 and is subject to customary terms and conditions.

Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains 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. Winning Media which has a partnership with www.MarijuanaStox.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. For making specific investment decisions, readers should seek their own advice. Winning Media, which has a partnership with www.MarijuanaStox.com, is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement between Winning Media (partners of www.MarijuanaStox.com) and Mota Ventures Corp., Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for Mota Ventures Corp. We own ZERO shares of Mota Ventures Corp.  Please click here for full disclaimer.

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Original Article: https://www.baystreet.ca/stockstowatch/7650/CBD-E-Commerce-Sales-are-Booming-with-the-World-Battling-COVID-19

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