CBD Companies Making Moves for Warmer Weather in Mexico and South America; (CSE: $CNNA.C) (TSX: $KHRN.TO) (CSE: $SOL.C) (CSE: $CANA.C)
Point Roberts, WA and Delta, BC - March 29, 2019 (Investorideas.com Newswire) Investorideas.com, a leading investor news resource covering hemp and cannabis stocks releases a snapshot looking at how, as CBD gains momentum in the US, companies are eyeing the next potential markets; mainly south of the border in Mexico and South America.
In November 2018, Mexico announced approval for the importation and sale of cannabis products at pharmacies and retailers across the country to service the Mexican population of 130+ million. Sixty product licenses have been initially approved by the COFEPRIS thus far, and it is expected this decision will make cannabis products like hemp-derived CBD available on the shelves of general retailers across the nation.
CannaOne Technologies (CSE: CNNA), a company that develops and markets various digital tools to service various segments for the cannabis industry in Canada, with its flagship product BloomKit, is taking advantage of this new southern market potential. The company recently announced entering into a formal agreement with Manna Health Services SA de CV of Mexico City, to undertake the development, launch, and operation of an industry-leading, online CBD product purchase and delivery marketplace for the Country of Mexico. The agreement was signed on March 5, 2019, with a contract term of 36 months and an option to renew for an additional 60 months at the conclusion of the initial period.
"BloomKit, our enterprise software solution, will give Manna the capability to offer a flagship and fully operational online CBD marketplace once Mexican regulations are finalized. For example, it will offer Manna the ability to inherently monitor and track pick-up and delivery logistics, and the capability to deliver historical and current trending analytics to ensure optimal management of all CBD sales channels. It will provide this all with the benefit of a simple and easy to use built-in eCommerce solution."
Currently, Manna Health is approved by the Mexican government to buy, sell, lease, distribute, import, or export any products related to health and wellness. Once this CBD marketplace has launched, Manna has further committed to CannaOne to jointly study, analyze and utilize all market and consumer data that is collected and retained through the marketplace."
CANNAMERICA BRANDS CORP. (CSE: CANA) (OTCQB: CNNXF) is also looking into Mexico for CBD, having announced that it has entered into a binding letter of intent to create a joint venture with Sericea Labs S.A. de C.V. and CBDistribution Company Ltd., with the intention of building a facility in Mexico for importing and warehousing licensed CBD products as well as CBD oils and tinctures destined for refining.
When and if permitted under Mexican laws, the Company, SERICEA and CBDC also plan on acquiring, importing and cultivating industrial hemp biomass for extraction into CBD isolate to be used for multiple product lines which utilize CBD. Subject to Board approval from the Company and completion of satisfactory due diligence, the JV Parties intend to enter into a definitive joint venture agreement on or before April 30, 2019.
Khiron Life Sciences Corp. (TSXV: KHRN) (OTCQB: KHRNF), a vertically integrated cannabis leader is focused not only on Mexico, but all of Latin America, having recently announced participating in Cosmoprof Worldwide Bologna, which took place March 14-17 in Bologna, Italy.
Kuida®, the first consumer brand for Khiron's wellness unit, brings the benefits of cannabidiol (CBD) to a comprehensive portfolio of skin and body care products for women. Launched in Colombia in October 2018 through retail, wholesale and online channels, Kuida® will now target the global skincare market which, according to Euromonitor International is expected to reach US$131 Billion in 2019.
SOL Global Investments Corp. (CSE: SOL) (OTCQB: SOLCF) also put a focus on international CBD in February, when the company announced the formation of a new international hemp-focused subsidiary, Heavenly Rx Ltd.
From the news:
"We are launching Heavenly Rx with the aim of acquiring a portfolio of battle-tested and proven hemp/CBD companies while also acquiring certain unique brands for which we believe CBD and hemp-infused products could drastically change their growth," added SOL's chief investment officer Andy DeFrancesco. "We are more bullish than ever about the future of the hemp and CBD industries globally, and Heavenly Rx will without a doubt be the vertically integrated leader in the space. Heavenly Rx is not simply an investment company, but rather a laser-focused global Hemp and CBD company only for all operations under the Heavenly Rx banner."
CBD is already on the tip of everyone's tongue in the US at the moment and it seems this "hype" is extending outward into the Latin American community and Europe. The import/export of US CBD is expected to take off in 2019, and companies looking South and East could gain a sizeable advantage due to the massive consumer populations available.
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