NEW YORK, December 17, 2018 /PRNewswire/ —
The cannabis market has grown substantially this year, due to more and more countries exploring opportunities within the industry. Canada’s legalization of cannabis was a major milestone for the market. Due to the major growth, cannabis players have introduced new and innovative products into the market. Specifically, cannabinoid (CBD) products have become popular due to their variability between recreational and medical uses. Primarily within the CBD segment, CBD-based oils are highly popular as well. According to data compiled by Transparency Market Research, the global CBD hemp oil market is projected to grow from USD 950 Million in 2017 to USD 2.5 Billion by 2026. The market is also expected to grow at a CAGR of 11%. The CBD market attributes most of its growth to the medical market as many countries and healthcare companies are adopting CBD oils to treat medical conditions such as chronic diseases, sleep disorder and depression among patients. The Yield Growth Corp. (CSE: BOSS), Pyxus International, Inc. (NYSE: PYX), Neptune Wellness Solutions Inc. (NASDAQ: NEPT), Zynerba Pharmaceuticals, Inc. (NASDAQ: ZYNE), Medmen Enterprises Inc. (OTC: MMNFF)
Although CBD oil is being heavily used within the medical market, there is still demand outside the segment. CBD oil is also being used for recreational purposes such as a relaxation stimulant, but its usage is also growing in the beauty and wellness industry. According to a research published by Cutis, CBD is being used to treat skin disorders such as atopic dermatitis, psoriasis and acne. Claudia Mata, Co-Founder of Vertly, says that CBD is beneficial due to its anti-inflammatory properties, vitamins A, D, and E, and essential fatty acids it makes it a popular product within the beauty and wellness market. “It’s the non-psychoactive component of the cannabis plant,” said New York City-based nutritionist and author of The Diet Detox, Brooke Alpert. “CBD is the wellness vitamin that everybody can benefit from. For someone who feels great already, it’s just gonna [sic] make you feel better.”
The Yield Growth Corp. (CSE: BOSS) earlier today, the Company announced that, “it has appointed Mr. Thomas Bond to the Yield Growth Board of Directors and appointed him as Chairman of the Board of Urban Juve Provisions Inc., which is 100% owned by Yield Growth.
Thomas Bond has over 35 years experience partnering with entrepreneur businesses to build and deliver the operational and financial infrastructure to support annual double-digit revenue growth. During that time, he has held C-level financial and operational positions with companies engaged in cosmetics, apparel, and construction including M.A.C Cosmetics, Cover FX Skin Care and Tridel.
Thomas was with M.A.C Cosmetics from 1993 until its sale to Estee Lauder in 1999. He started as the CFO and in 1994 the COO role was added to his portfolio. From 1993 to 1999, annual revenues at M.A.C Cosmetics grew from $12 million to over $300 million. His achievements included building an executive team that could support the growth objectives, opening M.A.C owned retail stores, diversifying the business geographically by expanding into the U.K., France, Italy and Hong Kong, and mitigating the retailer concentration risk in the U.S. by adding distribution agreements with a number of major department stores. He was personally responsible for leading the discussions with Estee Lauder and negotiating the final sale agreement. After the acquisition, he continued to provide full time consultant services to M.A.C Cosmetics until 2002.
M.A.C Cosmetics is named one of the top three global makeup brands, with an annual turnover of over $1 billion and 500 independent stores. M.A.C Cosmetics is headquartered in New York City and became part of the Estée Lauder Companies in 1998. The Estée Lauder Companies reported net sales of $13.68 billion for fiscal year 2018.
After M.A.C Cosmetics, Thomas joined Cover FX Skin Care Inc., a startup cosmetics company based in Toronto, as a shareholder and the CFO and COO. During his tenure, Cover FX expanded rapidly by entering into agreements with Shoppers Drug Mart, Sephora in the U.S., and Harvey Nichols in the U.K. In order to accelerate the rate of growth additional capital was required, so in 2011 a controlling interest was sold to L. Catterton, the largest and most experienced consumer-focused private equity company in the world. Today, Cover FX products are being distributed in 1875 stores in Canada, the U.S., U.K., the Middle East, Australia, India, Malaysia, Indonesia, Singapore, Thailand and Latin America. From April 2013 to the present, Thomas has consulted with the CFO Centre Canada and for four of those years provided CFO/COO consulting to a company in the apparel industry owned by Birch Hill Equity Partners. Thomas holds an MBA from the Rotman School of Business at the University of Toronto and is a CPA. C.A.
In addition to his appointment as a Director of Yield Growth, he has also been appointed to its Audit Committee and Compensation Committee effective today.
‘Thomas is an excellent addition to what is already an exceptional team with big company depth,’ says Penny Green, CEO of the Yield Growth Corp. ‘Thomas brings extensive financial, operational, and strategic experience. This, combined with his deep knowledge of the cosmetics industry and experience scaling high-growth companies, will be a huge asset to both Yield Growth and Urban Juve.’
About The Yield Growth Corp. & Urban Juve: The Yield Growth Corp. is a diverse team of business executives dedicated to rapid, sustainable financial growth for businesses with viable models for success. The team’s experience spans across venture capital, international investor relations, licensing, intellectual property strategies, and corporate governance best practices in North America. Its directors and officers have experience at multi-billion dollar international companies including M.A.C Cosmetics, Aritzia, Skechers, Pepsi and Coca-Cola. Yield Growth owns 100% of Urban Juve Provisions Inc., which has a catalogue of over 50 wellness formulas. Urban Juve is the organic synthesis of ancient knowledge and modern techniques. Ayurvedic knowledge delineates three general categories or skin types, which Urban Juve has translated as Vitalize, Balance and Align, each with its own dedicated range of skin and body care formulations. Urban Juve has registered for sale with Health Canada 26 products containing cannabis sativa hemp oil and has filed 11 provisional patent applications in the United States. Urban Juve’s products are sold in Canada, with distribution agreements signed for the United States and Italy.”
Pyxus International Inc. (NYSE: PYX) is a global agricultural company with 145 years’ experience delivering value-added products and services to businesses and customers. Pyxus International, Inc. recently announced that its joint venture, Criticality, an integrated North Carolina-based industrial hemp company operating under North Carolina’s industrial hemp pilot program, has launched “Korent,” its new line of cannabidiol (CBD) oil products. Korent’s full-spectrum oil drops are available in Vanilla Mint and Grape flavors, in multiple sizes and concentrations. Flavors were custom designed for hemp products in partnership with Purilum, LLC, a leading flavor manufacturer and Pyxus-affiliated company. Criticality intends to continue to launch additional products from its innovation pipeline, including a CBD e-liquids line, topicals and other oral products, and expand retail distribution in the coming months. “Criticality’s science-based approach to the extraction, refinement and formulation of high-quality CBD products makes it well positioned in the market and presents a huge growth opportunity for both Criticality and Pyxus,” said Pieter Sikkel, Pyxus’ president, Chief Executive Officer and Chairman of the board.
Neptune Wellness Solutions Inc. (NASDAQ: NEPT) is a health and wellness products company, with more than 50 years of combined experience in extraction, purification and formulation of value-added differentiated science-based products. Neptune Wellness Solutions Inc. (formerly known as Neptune Technologies & Bioressources Inc.) announced earlier this year that it had entered into an agreement for the co-development, commercialization and marketing of purified cannabinoid oil-based products to address pain and inflammation relief applications for the natural health products and pet veterinary markets. ”We are excited to partner with Tetra, a biopharmaceutical leader in the development of cannabinoid-based novel drugs and treatments. The products that will be co-developed will be supported by research as well as our unique formulation and delivery system knowledge, which are key components of our mission to deliver differentiated science-based, value-added products,’’ said Jim Hamilton, President and Chief Executive Officer of Neptune.
Zynerba Pharmaceuticals (NASDAQ: ZYNE) is the leader in pharmaceutically-produced transdermal cannabinoid therapies for rare and near-rare neuropsychiatric disorders. Zynerba Pharmaceuticals, Inc. recently reported new 12-month open label clinical data describing the long-term impact of ZYN002 on emotional and behavioral symptoms of Fragile X Syndrome (FXS) in a poster presentation at the 57th Annual Meeting of the American College of Neuropsychopharmacology. ZYN002 was well tolerated, and the safety profile was consistent with previously reported clinical data, with no serious adverse events (SAEs) reported. Through month 12, patients reported 43 treatment-emergent adverse events (TEAEs), all of which were mild or moderate. Two out of 20 patients, who were siblings, discontinued during the initial three-month period; one discontinued due to worsening eczema (not considered treatment related) and the other discontinued for administrative reasons. In the ongoing open label extension, there has been one discontinuation for administrative reasons. The most common TEAEs were gastroenteritis (14%) and upper respiratory tract infection (12%). One patient developed moderate skin rash (alternate etiology reaction to antibiotics) and one patient developed mild dry skin; both resolved and the patients remained in the study. There has been no THC detected in plasma. There have been no clinically meaningful trends in vital signs, ECGs or clinical safety labs, including liver function tests. “I am encouraged to see that improvements in FXS-associated emotional and behavioral symptoms after 12 months of treatment with ZYN002 are consistent with those seen at three and nine months; these data continue to suggest the potential for sustained responses that may be conserved over extended use of the drug,” said Dr. Steven Siegel of the Keck School of Medicine. “Improvements in these behaviors may enhance the child’s capacity for interaction and engagement with their peers, families, teachers and caregivers. These data are promising, and I am enthusiastic about the potential opportunity for ZYN002 in these patients. I look forward to the results of the double blind, placebo-controlled CONNECT-FX study next year.”
MedMen Enterprises Inc. (OTCQX: MMNFF) is a leading cannabis company in the U.S. with assets and operations nationwide. MedMen Enterprises Inc. recently announced the New York Department of Health has approved MedMen’s request to manufacture and sell cannabis-infused lotions and topical pain-alleviating sprays for qualified medical marijuana patients. MedMen’s four stores in New York currently offer vaporizer pens, tinctures and gel caps in five different formulations. Earlier this year, the state also approved MedMen adding ground flower in the form of metered pods to its product selection. MedMen is one of only 10 companies licensed to manufacture and sell medical marijuana in New York. In April, MedMen opened its flagship store on Fifth Avenue, only one of three licensed dispensaries in Manhattan.