Scientific Breakthroughs Help Establish CBD as a Medical Alternative
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s the cannabis industry continues its evolution, competition among companies is becoming more and more ferocious. Over the past year, cannabidiol-based (CBD) products have swiftly emerged thanks to various successful legalization efforts.
Specifically, in regions such as the U.S. and Canada, consumers have flocked to retailers to buy a wide range of CBD products including topicals, beverages, tinctures, and patches. In addition, major retail corporations such as Amazon, Walgreens, and CVS have all decided to sell CBD products in-store as well as on their online platforms.
Overall, the rapid acceleration of the market is attributable to the passage of the U.S. Farm Bill in late 2018, which legalized the commercialization of hemp-derived products. Yet, despite the growing demand for CBD products, it has become more and more difficult for new players to compete in this market space.
Generally speaking, pre-established players such as large corporations with surplus marketing budgets or known dispensaries tend to dominate the marketplace. Nonetheless, the U.S. remains the largest contributor to the global cannabis market, even as the country has yet to federally legalized the plant.
And according to data compiled by GlobalInfoResearch, the global legal marijuana market was valued at USD 7.97 Billion in 2019. By 2024, it is expected to reach USD 35 Billion while registering a CAGR of 28% over the next five years. Global Payout, Inc. (OTC GOHE), The Supreme Cannabis Company, Inc. (OTC SPRWF), AXIM Biotechnologies, Inc. (OTC AXIM), Aleafia Health Inc. (OTC ALEAF), Medmen Enterprises Inc. (OTC MMNFF).
The growing popularity of CBD is largely attributed to various medical applications that are associated with the products. For example, full-spectrum CBD oil is considered a great source of Omega 3 and Omega 6; Omega 3 plays a vital role in creating hormones that regulate inflammation as well as contractions and relaxation of arteries. They also lower your triglyceride levels in the blood to reduce the chances of suffering from heart disease and stroke.
Additionally, the oil is also known to contain vitamins such as A, C, E, and B complex, which can help with the growth and development of vital organs and boost the body's immune system. The research is emerging to support the use of CBD for numerous conditions, as well as looking closely at safety, side effects, and long-term effects. There are some valid concerns about long-term use that must be tested before CBD can be recommended for other diseases. As one approach to pain management, it is seen as an alternative option to the addicting narcotics. The use of CBD oil might complement a medical approach to treating physical and mental diseases, said Debra Rose Wilson, PhD, MSN, RN, IBCLC, AHN-BC, CHT.
Global Payout, Inc. (OTC GOHE) announced earlier this week that it had executed a binding Memorandum of Understanding (MOU) with World Innovation Technologies (WIT) to acquire a 51% ownership of WIT, making it a majority owned subsidiary of the Company.
WIT is a manufacturer of Nutraceutical products that are ready to be deployed into the market and both companies have agreed they can benefit from Global's experience with sales and marketing of new product launches. Global will take over all sales and logistics efforts on behalf of WIT and in exchange will receive 50% of all revenue generated in the new subsidiary.
This acquisition has been in the works for some time and represents the first step in our overall goal to diversify Global Payout's holdings, said Global Payout CEO, Vanessa Luna. I believe WIT to be an up and coming player in the multibillion-dollar nutraceuticals market, one that many analysts believe will continue on a strong growth trajectory over the next couple of years. I have had the personal pleasure of working with the Executive Team of WIT on multiple business initiatives over the past decade. I am grateful they decided to entrust my team and I to bring these products to market and meet the current demand they are facing. We are excited to develop a strong go-to-market strategy for the company and identify the many possible revenue streams that will be derived from this partnership.
WIT comes with major products lines such as dose K-Cup, Button Blast Dosing Cap, Sports Blast Dosing Cap, Straws Dissolving Beads, Microencapsulation, Pharma Blast, and more (All products are patent protected).
We have personally seen firsthand the success Ms. Luna and her team bring to any company they work with. We were thoroughly impressed with their most recent endeavor with MTrac and how quickly they managed to dominate a market space with a new technology launch. It is that level of expertise that ultimately brought us together in this new venture. We are currently experiencing high demand for our products in caffeine, cbd, cosmetics, nutra, and more. We are eager to finalize this acquisition and look forward to working together to bring our products to the masses, said Mr. Roy Anthony, on behalf of WIT.
As Global works with WIT to finalize the details of the acquisition the Company will keep shareholders apprised of its progresses.
For more information on WIT please feel free to visit their website at https//www.innonutra.com/
✔️ Scientific Breakthroughs Help Establish CBD as a Medical Alternative
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