ABOUT CBD GLOBAL SCIENCES INC.
CBD Global Sciences, through its wholly owned subsidiaries, Global Sciences Holdings and Legacy Distribution Group, (www.legacydistributiongroup.com), is delivering quality CBD products from multiple vendors of CBD infused products and non CBD products throughout the Colorado and Wyoming territories, currently servicing over 400 C-store and large box retailers with expansion plans to exceed 5,000 stores in the next 12-24 months.
The financials submitted paint a picture of a company that has fought vigorously to survive through the impact of the global pandemic in 2020 and predatory litigation that led to the filing of Chapter 7 bankruptcies for two of its subsidiary companies in US Federal Bankruptcy courts in March of 2021.
Denver, Colorado, Sept. 27, 2021 (GLOBE NEWSWIRE) — via NewMediaWire — CBD Global Sciences, Inc. (OTC: CBDNF) (CSE: CBDN) (Frankfurt:GS3), (“CBD Global” or the “Company”), is pleased to share the news that, following the filing of its 2020 annual, and Q1 2021 and Q2 2021 financial statements and MD&A, the previously issued cease trade order has been revoked and the Company’s common shares have been approved by the regulators and Canadian Securities Exchange to resume trading. The Company’s common shares will resume trading at the opening of the market on September 28, 2021.
For further information, please contact, Investor Relations, (888) 401-2239, [email protected]
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAS REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Additionally, CBD Global successfully acquired both Aethics (www.aethics.com) and CannaOil (www.cannaoilshop.com) out of the bankruptcies. This purchase came with all trademarks, inventory and web URL’s related to the two brands. Until that was approved by the courts, we elected to put both brands into ‘auto pilot’ status. Leading up to and during the bankruptcies, CBD Global could not benefit from sales of products because it would be considered property of the estates in the bankruptcy. Until this matter was resolved we did not invest time or resources into the growth of sales and distribution for both brands, which directly impacted the revenue generation for the Company in the first two quarters of 2021. Now that the Company owns both brands, we are excited to initiate the relaunch.
Global Cannabidiol (CBD) Market, by Source
Pune, India, June 01, 2021 (GLOBE NEWSWIRE) — The global cannabidiol (CBD) market has been estimated to reach USD 2,740 million in 2021 and is projected to grow at a CAGR of around 51% during the forecast period till 2030. The demand for CBD-based products is growing due to their healing properties for various health conditions and medical disorders. Heart diseases, cancer, anxiety, depression, pain relief, and inflammation are some health conditions that can be potentially treated using cannabidiol products. Cannabidiol (CBD) is one of the 113 cannabinoids identified in the cannabis plant. The CBD-based products include oil, dried cannabis, capsules, and liquid solution. The products can be consumed in multiple ways like inhaling smoke or vapor and eating.
North American region is projected to dominate the market during the forecast period. The presence of various prominent players, rising number of start-ups, and growing clinical trials are expected to contribute to the regional market growth.
Global Cannabidiol (CBD) Market, by Region
The QMI team is closely monitoring the impact of COVID-19 on the global cannabidiol (CBD) industry, and it has been observed that the demand for cannabidiol (CBD) is uncertain during the pandemic. But it is projected to grow during the forecast period. To control the spread of the pandemic, many countries across the globe have enforced strict lockdowns, which is hampering business activities.
Based on distribution channel, the global cannabidiol (CBD) market is bifurcated into B2B and B2C. The B2C segment is further divided into hospital pharmacies, online and retail stores. The business to business (B2B) segment is expected to grow rapidly during the forecast period. The growing demand of CBD oil as a raw product is expected to augment market growth.