- PotNetwork’s subsidiary, Diamond CBD, reports record sales of $1.76 million in August 2017
- Acknowledged industry experts appointed to advisory board
- New line of CBD-infused honey products launched in October 2017
The hemp-derived cannabidiol (CBD) market is projected to show phenomenal growth over the next few years. The Hemp Business Journal has projected a compound annual growth rate (CAGR) of 53 percent for CBD products derived from hemp, estimating this market to be worth $1.8 billion by 2020 (http://cnw.fm/qf0A1). PotNetwork Holding, Inc. (OTC: POTN) is in a strong position to take advantage of this growth through its subsidiary, Diamond CBD, with its offerings of CBD-based oils, creams, dabs, vapes, edibles and pet food additives. On October 24, 2017, the company announced an addition to its CBD edible product line by developing a range of innovative honey products, including straws packed with CBD-infused honey. Using natural honey, these formulations combine the therapeutic properties of both honey and cannabis in appealing and tasty products. The company has an established offering of CBD edibles that includes gummies and shots.
Diamond CBD, owned by PotNetwork Holding’s subsidiary First Capital Venture Co., has established itself as a force within the CBD-based market and its products are sold in over 10,000 stores across the country. All of its cannabinoids are extracted from industrial hemp, a procedure approved by the Food and Drug Administration (FDA), unlike extraction methods based on marijuana. The FDA restricts the CBD extraction to imported sources of hemp, but it is currently legal to grow these crops in an increasing number of states, including South Carolina and Arizona. Cannabidiol (CBD) is not psychoactive and does not produce the mind-altering effect of tetrahydorcannabinol (THC) found in marijuana. The company’s research…
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