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Friday, Dec 9, 2022
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.

CBD

Curaleaf expands CBD edibles portfolio aimed for relaxation and sleeping

Curaleaf currently operates in 23 states and has 130 dispensaries

Select CBD Bites

One of the top American cannabis producers Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) has launched edibles made with natural ingredients and CBD aimed to provide rest and anti-stress benefits.

On Monday, Curaleaf announced its launching its new Select CBD Bites infused with CBD to provide targeted health benefits such as sleep and stimulation but without the psychoactive effects of THC.

Select CBD Bites will be available in a 30 pack for $39.99, 10 pack for $17.50 or a two-pack for $4.99. Each bite consists of 25 milligrams of cannabinoids CBN, CBG and CBD that come from U.S.-grown hemp. Select CBD Bites are now available in three flavours, Mango, Blackberry and Watermelon.

CEO of Curaleaf Joe Bayern said in a statement that the company wants to make affordable products that perfectly fit into the lives of everyday customers and he believes Select CBD Bites will help people on their cannabis journey.

The gummies are already available across the United States both online and in-store at selectcbd.com

Curaleaf stock closed today at US$5.79 down 1.86 per cent on the OTC Exchange. Company stock closed at CDN$7.50 on the Canadian Securities Exchange.

Read more: Curaleaf to enter Caribbean market via agreement with CBD distributor

Read more: CBD market to reach US$56.2B by 2028: GMI report

A number of cannabis companies are getting into the CBD market because there is a lot of money to be made in it.

According to a financial report by Global Market Insights Inc, the CBD market value reached US$7.7 billion and is expected to reach over US$56.2 billion in global sales revenue by 2028. The sleep and insomnia CBD market was found to surpass US$1.1 billion in 2021.

According to the analytics firm Research and Markets, the leading players in the CBD gummies market include Aurora Cannabis, Inc. (TSE: ACB) (Nasdaq: ACB); Canopy Growth Corp. (TSE: WEED) (Nasdaq: CGC) and CV Sciences, Inc. (OTCMKTS: CVSI).

Edmonton-based Aurora carries CBD products via its medical branch Aurora Medical under the brands Medleaf, CanniMed and Aurora. Back in February, Aurora Cannabis launched its KG7 CBD gummies for customers with an active lifestyle.

Aurora stock went down 3.50 per cent closing at US$3.03 on the Nasdaq. Company stock closed down 4.21 per cent to CDN$3.87 on the TSX.

Canopy Growth sells CBD products in the United States under the First & Free Martha Stewart CBD brand that carries gummies, oils, softgels and CBD wellness topicals.

Canopy stock was up 0.17 per cent today closing at US$6.06 on the New York Stock Exchange. Company stock was down 0.26 per cent today to CDN$7.78 on the TSX.

Read more: Dynaleo releases high-CBN gummies to be used as sleep aid

Other companies are also developing new technologies aimed to help with sleep. Hapbee Technologies, Inc. (TSXV: HAPB) (OTCQB: HAPBF) (FSE: HA1) announced on Tuesday that its first product Hapbee Neckband has been included in this year’s Wellness Category of Fast Company’s World Changing Ideas Awards.

Hapbee is a leading wearable wellness technology platform that wants to help people improve their health through sleep technologies.

World Changing Ideas is one of Fast Company’s awards programs that focuses on new products on the market that have the potential to help society. Judges select winners based on usefulness and the impact the product has on the world.

Photo via Hapbee

The Hapbee Neckband works by using ultra-low radio frequency energy technology (ulRFE) that imitates specific magnetic fields that produce desired feelings in the body such as focus, relaxation and deep sleep. The signals mimic natural compound effects like caffeine. The product can be placed under a pillow for sleep or worn around the neck.

Hapbee stock closed at CDN$0.20 up 2.56 per cent on the Canadian Venture Exchange. On Tuesday, Hapbee stock closed at US$0.151 on the OTC.

 

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