Hemp Oil Sales in the US are Projected to be Over Billion-dollar in the Next 3 Years
Temecula, CA , March 12, 2018 (GLOBE NEWSWIRE) -- HOP-ON, INC. (OTC:HPNN) announced today there are 3 different sites selling its Cedar Brands ( Amazon.com, Naturallycedar.com and Shop CBD.online ). Hemp-derived cannabidiol (CBD) is projected to be a billion-dollar market in just three years, according to a new report by Brightfield Group
Hop-on’s subsidiary,Re-Medical,is now successfully marketing Hemp and CBD products and finding success online with the Amazon and its own stores NaturallyCedar.com and ShopCBD.online.com despite regulatory hurdles.
There is a lot of misunderstanding surrounding the legal status of hemp and why these products are so readily available versus marijuana-based CBD products. Marijuana as defined by the Controlled Substance Act (CSA) excludes certain parts of the cannabis plant, so if CBD is extracted from those exempt parts, it would not, in fact, be classified as marijuana. Additionally, CBD, or any cannabinoids, derived from domestically produced industrial hemp under the Farm Bill are expressly excepted from the CSA. In 2014, the Farm Bill stated that hemp was different from marijuana, yet the Drug Enforcement Agency’s (DEA) position is that hemp comes from the cannabis sativa plant and as such falls under the CSA. The Hemp Industry Association won a court case against the DEA in the Ninth Circuit Court of Appeals that ruled the DEA didn’t have the authority to ban hemp under the CSA. This federal court ruling allows Re-Medical to sell online and distribute hemp and similar non-schedule I hemp food products to customers in all 50 U.S. states.
As the world awakens to the benefits of consumer products made with phytocannabinoid hemp extracts rich in cannabidiol online CBD retailers are seeing great success.
Re-Medical is serving the natural channel that is committed to quality, efficacy, and strict compliance under the Dietary Supplements Health and Education Act (DSHEA).
Since 2014, 17 States including conservative states in the South and Midwest have legalized CBD, the non-psychoactive cousin to cannabis’ active ingredient, THC. Online and various natural product retailers across the country are carrying CBD dietary supplements, CBD personal care products, hemp oil-infused beverages and snacks, and other CBD-fortified products at the request of their healthy lifestyles customers.
Today’s market where mainstream supermarkets are commanding an increasing market share of natural and organic product sales, the CBD consumer products market represents a brand-new growth category, and an opportunity for independent natural retailers to distinguish their stores from the competition.
CBD made from hemp contains less than 0.3% THC, the psychoactive ingredient associated with marijuana and is often used to treat various medical conditions. It is sometimes called hemp oil and it is sold in most states and online. This makes the product more accessible than marijuana-derived CBD, which some consumers believe is the more effective version of CBD but can only be sold where marijuana is legal.
Peter Michaels, CEO of Hop-on stated, “There is real interest and awareness with consumers in the natural channel who have heard about the benefits of CBD and what hemp products can do in terms of a therapeutic effect in dietary supplement form. Especially when applied to the skin for muscle aches and inflammation.”
Re-Medical, Inc., a wholly owned subsidiary of Hop-on, is focused on alternative ways to deliver vitamins, supplements and other healthful products such as cannabis, utilizing transdermal patches and other novel technologies. The company has developed and isolated the benefits of cannabis and other vital plant extracts for best patient care. There are an estimated 80+ cannabinoids found in cannabis, each providing distinctive neuropathic effects. The company is currently applying for patents regarding the delivery of cannabis via transdermal patches. Re-Medical patches offer cost effective, accurate and clean delivery of these unique compounds. For more information, please visit www.re-medical.com
Hop-on, Inc. (HPNN.PK) is a global ODM and OEM manufacturer of electronics, based in the United States. Over the past 20 years, Hop-on has successfully secured essential patents for mobile communications and computing technologies, and is respected for developing the world’s first disposable cell phone. Hop-on's focus on smartphones and innovative mobile device applications is bringing cost friendly solutions to today's demanding world market.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933, and are subject to Rule 3B-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and other results and further events could differ materially from those anticipated in such statements. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements.
For more information: firstname.lastname@example.org
Contact: Hop-on, Inc. Peter Michaels 949-756-9008