PALM BEACH, Fla., May 6, 2021 /PRNewswire/ — The CBD Oil extract market is growing but what exactly is making it grow? Recent reports indicate that it is the increasing preferences of oil and tinctures extracted from cannabis which is primarily driving the market growth rate.
The Supplier will provide a high-quality economical source of hemp biomass which Nextleaf Labs will process into refined and distilled CBD oils using Nextleaf’s patented extraction and purification platform.
“We are very pleased to work with a reputable, B.C.-based partner who has a nationwide network of validated CBD rich hemp farms to meet our increasing demand,” stated Nextleaf CFO, Charles Ackerman.
Additionally, the Acquisition provides immediate entry into the US market with a trusted and leading CBD health and wellness brand with an established manufacturing and distribution platform.
Since its inception in 1998, GW has successfully navigated significant barriers to enable the development, manufacture and commercialization of regulatory approved cannabis-based medicines, leading the way in improving the lives of patients and families around the world.
“Through this groundbreaking partnership, we will leverage Southern Glazer’s established distribution network to bring our CBD beverage portfolio to retailers and consumers across the U.S.