Canadian marijuana giant banking on CBD sales in the US

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But enterprise executives cautioned investors that it is “too early to speculate” on how huge the European market place for CBD will turn out to be.

The comments came as Cronos released its very first earnings report considering that the enterprise announced plans to commit $300 million in the U.S. hemp market place via acquiring 4 operating subsidiaries of Los Angeles-primarily based Redwood Holding Group.

“It’s fair to estimate that the U.S. CBD market place will probably be the biggest contributor (to sales) over the subsequent year or two,” Cronos CEO Michael Gorenstein stated.

He stated the enterprise sees “significant opportunity” for CBD in Europe, but he cautioned against producing sales projections.

European well being regulators have stated that CBD can not be added to meals, a choice the hemp business in Europe is attractive.

“It’s possibly also early to speculate on specifically how promptly the European market place will unfold for CBD,” Gorenstein stated.

 “I do not feel we have the very same clarity as we do for the Canadian market place or the U.S.”

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Categories: Briefs, Canada Hemp News, CBD Solutions &amp CBD Organization News, International News

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