The cannabis industry is one of the most active markets currently, and it is hard to keep up with all that is going on. Amidst the heavy market activity, there are a few notable updates from some of the top brands in marijuana, hemp and CBD. Here’s a look at them:
INDUS Holding Company
California-based INDUS Holding Company is slowly solidifying itself as a market leader in the legal cannabis industry in the U.S. It is becoming a bigger key player in the market as well as it was recently able to raise $46 million in financing for its Series B round that ended on Oct. 25. Its most recent financing success is the best performance of the company yet since it was formed in Nov. 2014 and its launch in March 2018.
Its initial launch goal in 2018 was to raise $15 million to fund INDUS’ operations which include cultivation, extraction, manufacturing, sales, marketing and distribution. When the company continued to meet funding success, it increased its funding goal to $30 million June 2018 and to $46 million in Sept. 2018. Needless to say, the company was able to reach these goals easily.
Aside from this, the company’s distribution division INDUS Distribution was able to solve multiple supply chain challenges with a new partnership with WAVY. Its supporting partner is a one-stop compliance and distribution website that will be able to connect INDUS with trusted brands and licensed retailers in California.
INDUS is going to enter 2019 with the new goal of rapid expansion. To complete this goal, it hopes to invest heavily in human capital while adding more brands under its name. Additionally, it will also work toward increasing its distribution capacity in California and later on in the entirety of the U.S.
PotNetwork Holdings, Inc.
When it comes to seeing how far the cannabis industry has come in a span of one year, there is no better company to set as an example aside from PotNetwork Holdings, Inc. (OTCMKTS:POTN). The company is one of the leading brands when it comes to the research and development of hemp-derived CBD. This also makes POTN a living testament to CBD’s journey into market dominance.
According to a recent press release, POTN was able to garner a whopping $18.1 million in sales from the months of January through September. This amounts to an $8.6 million increase in year-over-year sales. Its massive revenue growth between 2017 and 2018 is supported by months of record breaking feats driven by the sales from its wholly owned subsidiary, Diamond CBD, Inc.
The leading CBD distributor in the U.S. continues to deliver a vast selection of products derived from premium-quality hemp. Aside from the quality and diversity of its products, Diamond CBD’s success may also be attributed to its active participation in major trade shows in the U.S. Earlier this year, it showcases its products in the premiere ASD Market Week. Then just last October, the company was present at the Champs Trade Show in Denver, Colorado.
The show is also dubbed as the World’s Most Trusted Counter-Culture trade show in the state and it was attended by an international crowd of exhibitors, vendors and consumers. At the show, distributor showcased its line of vape additives, Liquid Gold vape juice, Chill CBD Gummies, creams and more.
More companies are becoming confident about their brands as evident by the number of pot stocks on the exchange. The most recent brand to enter the fray is medical marijuana and cannabis oil product maker Aphria Inc. According to a recent press release, the company’s common shares have been approved for listing on the New York Stock Exchange (NYSE). It will begin trading on the exchange on Nov. 2 under the APHA ticker symbol.
“Listing on the NYSE provides Aphria with access to the largest equity market in the world, with increased exposure to a vast array of U.S. institutional and retail investors,” Aphria CEO Vic Neufeld said in a statement. He adds that this move allows them to move towards their growth ambitions as they are now in line with brands listed on the NYSE.
These new updates further cement that fact that the cannabis industry is only moving forward from here on out. These brands continue to show progress amidst heavy competition and that will be good for the industry as a whole.
(Featured image by DepositPhotos)
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