CannaOne and Real Health Science Sign Contract to Operate a CBD Marketplace in the United States
Vancouver, British Columbia--(Newsfile Corp. - April 2, 2019) - CannaOne Technologies (CSE: CNNA) (FSE: 3CT) ("CannaOne" or the "Company") wishes to announce that it has entered into a formal agreement with Real Health Science ("Real Health"), to create, facilitate and operate an online CBD product purchase and delivery marketplace in the United States. The agreement was signed on March 18, 2019, with a contract term of 48 months and an option to renew for an additional 60 months at the conclusion of the initial period. The expected target date for the marketplace to be live and ready to conduct business is August 2019.
CannaOne CEO Solomon Riby-Williams stated, "Real Health has incredibly strong working relationships in place with high-quality suppliers and purveyors of CBD solutions in the US. The existing Real Health infrastructure and market positioning in the CBD market, combined with our unique and proprietary cannabis targeted technology solution offers our joint initiative a sound and superior foundation and a reasonable basis to perceive the potential it holds to be an economically lucrative long-term opportunity for our Company."
"Recent third-party reports have offered evidence that that the overall CBD market in the United States could likely eclipse $16 Billion annually by the year 2025. We feel the timing of the launch of our marketplace with Real Health could not be any better and with the recent passing of the Farm Bill provides us a legitimate foothold to potentially expand our business throughout the 50 states in the union" added Riby-Williams.
The USA CBD Market:
February 25, 2019
Nearly 7 percent of Americans are already using cannabidiol (CBD), placing the potential market opportunity for the much-hyped cannabis compound at $16 billion by 2025, according to a new analysis by Cowen & Co.
Cowen's January 2019 consumer survey of approximately 2,500 adults found 6.9 percent of respondents use CBD as a supplement. "This initial response piqued our interest considerably, as it was much higher than we would have suspected," and compared to 4.2 percent who reported use of Juul Labs Inc.'s e-cigarette devices and 19.6 percent who consider themselves current tobacco users, analyst Vivien Azer said in a note.
Based on this surprising level of consumer awareness, Cowen "conservatively" sees CBD use growing to 10 percent of U.S. adults or 25 million consumers by 2025, implying a $16 billion market opportunity, Azer said.
The Cowen survey found that CBD use is highest among consumers aged 18 to 34. Tinctures (liquid extracts) accounted for the biggest chunk of the market at 44 percent, followed by topicals at 26 percent, capsules at 22 percent and beverages at 19 percent.
About Real Health Science
Real Health is a California based company with a focus towards delivering the highest quality CBD products to its customer base covering the USA mass market in the most timely and professional services manner possible. In order to accomplish this, Real Health has established working relationships with superior providers in each vertical within the industry; U.S.A. cannabis genetics businesses, U.S.A. cannabis terpene extractors and suppliers, efficient and cost-effective hemp CBD extraction and purification labs in the USA, cGMP manufacturers of finished products, highest rated cannabis testing and certification labs & supremely effective drop shipping and logistics providers.
About CannaOne Technologies
CannaOne has developed Bloomkit, the first product in the Bloom Product Suite; a turnkey enterprise software solution that can be utilized by any B-to-C cannabis company. Inherent functionalities ensure its users the highest levels of on-going customer satisfaction while the adaptability of Bloomkit, gives clients the ability to operate and satisfy regulatory environments of any governing body around the World, truly affording CannaOne the opportunity to serve an overall base of global clientele with a software suite that sits at the forefront of the industry. The Bloom Product Suite™ is representative of complete data driven and design focused software solutions that contain diverse system architectures and provide intelligent, machine learning that will give clients detailed industry business insights and ultimately lead to the creation and management of predictive content and product recommendation engines.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES PROVIDERS HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
FORWARD-LOOKING STATEMENTS: Certain information contained herein may constitute "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, "will be", or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements are based on the Company's estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of CannaOne to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including capital expenditures and other costs. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. CannaOne will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.
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