According to a Sunday (May 12) report from the New York Post, retail giants Walmart (NYSE:WMT) and Target (NYSE:TGT) are studying the potential of selling cannabidiol (CBD) products.

Since the passing of the farm bill in 2018, which legalized the US hemp market, hemp-derived CBD products have gained steam as novelty items outside traditional marijuana shops in the country.


This move would represent another set of major retailers with wide networks of stores across the US entering the CBD market.

 

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On the potential for Walmart and Target stores to start offering these products, the New York Post wrote:

The Post has learned that top executives at major chains such as Walmart and Target have been quietly meeting with makers of drinks, gummy bears, topical creams and oils that are infused with cannabidiol, or CBD.

“Like many companies, we know there is consumer interest in CBD products, and the conversation is evolving quickly,” a Target spokesperson told the New York Post, but did not expand.

Shelf space for these novelty CBD products has risen in the US thanks to the entry of established pharmacy players.

In March, Walgreens Boots Alliance (NASDAQ:WBA) announced that its pharmacy chain would begin selling these products in the US.

This announcement came on the heels of CVS Pharmacy (NYSE:CVS) also confirming the start of sales for these products. The new came during a quarterly update conference call from multi-state operator (MSO) Curaleaf Holdings (CSE:CURA,OTCQX:CURLF).

The MSO explained to investors that its line of CBD products aimed at the health and wellness market would be part of the sales launch from CVS pharmacies.

“I think that, in anticipation of the farm bill last year, many retailers were trying to come to a strategy for how they were going to address hemp,” Joseph Lusardi, CEO of Curaleaf, said in the call.

The race for CBD products seems to be adding players by the day, with burger chain Carl’s Jr. announcing it would release a CBD-infused burger for 420, and even the Oreo cookies manufacturer saying that it wants some form of CBD-infused product on shelves.

Don’t forget to follow us @INN_Cannabis for real-time news updates!

Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.

 

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Better Plant Sciences Inc. (CSE:PLNT)(OTCQB:VEGGF)(FSE:YG3) (“Better Plant” or the “Company”), a wellness company that develops and sells sustainable, plant-based products that are better for health and better for the earth, is pleased to announce that it has added The Organic Grocer to its list of retail wholesalers for Jusu Wellness and Jusu Bar products. The Organic Grocer is one of Metro Vancouver’s leading independent organic grocers, providing full service industry leading expertise in health and wellness for its community with a focus on environmental and ecological consciousness

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Gage Growth (CSE:GAGE) CEO Fabian Monaco talks about the company’s latest merger and acquisition partnership with TerrAscend (CSE:TER,OTCQX:TRSSF) and how its different streams of revenue are driving Gage’s exponential growth within the cannabis landscape. 

“In 2021, we really hit the ground running, just like we’re going to hit 2022 running even faster. We had phenomenal growth, quarter-over-quarter growth, and we’re looking to expand quite exponentially as we approach the year 2022 in Michigan,” Monaco said.

Gage entered into a US$545 million definitive arrangement agreement with TerrAscend wherein shareholders of Gage will receive 0.3001 of a common share of TerrAscend for each Gage Share.

This CEO Interview is brought to you by:

Gage Growth (CSE GAGE) is a premier cannabis cultivator, retailer and brand in Michigan that operates on the idea that “good is just not good enough.” Its core values of providing premium cannabis to market, positively shaping cannabis culture and nurturing the community primes the company for success and rapid economic growth.Send me an Investor Kit

The combined business will have operations in five states and in Canada, including seven cultivation and processing facilities and 23 operating dispensaries serving both medical and adult-use cannabis markets in the US and Canada.

Part of the company’s plan for expansion is to bring the phenomenal Cookies brand to Canada. It will be available exclusively in Ontario via the Ontario Cannabis Store, the largest purchaser of cannabis in the world.

“We’re going to bring the Cookies brand to Canada very, very soon. We plan on opening a retail store in Canada and be the first ever Cookies-branded retail store,” said Monaco. 

Watch the full interview with Gage Growth CEO Fabian Monaco above. 

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Specialist Investment Company, MMJ Group Holdings Limited (ASX: MMJ) (“MMJ”), wishes to advise that BevCanna Enterprises Inc.(CSE:BEV) (“BEV” or “BevCanna”) has announced an offer (the Offer) to acquire 100% of Embark Health Inc. (“Embark”). MMJ’s investment in Embark consists of shares and warrants with a current book value of CAD2.4m.

Subject to a review of the Offer documentation, MMJ expects that its share of the Initial Consideration (refer below) would approximate the current book value of MMJ’s investment1.

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Spyder Cannabis Inc. (TSXV:SPDR) (“Spyder” or the “Company“), an established Canadian cannabis and vape retailer, is pleased to announce that its specialty vape retail brand, 180 Smoke, has entered into a strategic supplier agreement with Yi Hao Ji (Canada) Ltd. (“Yi Hao Ji“) to offer RELX closed-pod vaping products across its corporate and franchise stores, e-commerce and wholesale channels.

The closed-pod system is one of the fastest-growing sectors in the vaping vertical. More specifically, in Canada closed vaping systems have a compounded annual growth rate of 25% between 2019 and 2024 and currently account for 44% of all vape-related sales in Canada as compared to 4% prior to 2019[1].

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New High-Tech Hardware System to Launch in 16 States by Year End

– Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) (“Curaleaf” or the “Company”), a leading U.S. provider of consumer products in cannabis, today announced the release of Cliq by Select, a breakthrough hardware system from its Select brand designed to significantly upgrade the consumer’s vaping experience. Cliq is the culmination of years of research and development to create the perfect marriage of Select’s award-winning cannabis oil with a new, intelligently designed delivery system. This new hardware will debut at Hall of Flowers today and launch in Oregon California and Arizona next week. The hardware will then continue to roll-out nationwide in states such as Massachusetts Colorado Florida Maryland Michigan Nevada New York Connecticut Maine Utah Ohio and Pennsylvania .

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