Business
For The Earth to Add CBD Sunscreen and CBD Lip Balm Products
For The Earth to Add CBD Sunscreen and CBD Lip Balm Products.
About this update from For The Earth Corp.
[{"type":"text","content":"\nPHOENIX, AZ, April 08, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – For The Earth Corporation (the “Company” or “FTEG”) (OTCMKTS: FTEG), an emerging vertically integrated CBD producer and retailer, is proud to announce the addition of two new CBD products: CBD Sunscreen and CBD Lip Balm.\n Management believes the CBD skin care space has a faster path to mainstream adoption than most areas of the CBD market. According to hempindustrydaily.com, the demographic of sales for CBD-based skin care products has been expanding beyond the areas that one might expect, including major growth in Midwest states like Iowa, Michigan, and Oklahoma. In addition, the Company believes fewer competing products exist in the sunscreen and lip balm area of the CBD skin care market, suggesting a clear opportunity. “It’s easy to lose perspective on the stunning boom going on in the CBD space,” notes FTEG CEO Nelson Grist. “The numbers are so dramatic that I think a lot of people lose touch with the idea that this is still a very small market gradually evolving from a niche cultist following into a major mainstream goods market. That’s going to happen because your next door neighbor starts using CBD products. And we think the gateway products will be the CBD versions of other stuff most mainstream consumers are already familiar with, like skin creams, sunscreens, and lip balm. That’s the leading edge of the revolution, and we want to be aggressively positioned for that process as it plays out over coming quarters.” Management notes that, following the signing of the 2018 Farm Bill into law in December, estimates for growth in the CBD products market have been ratcheted sharply higher among analysts, pushing anticipated return on investment in CBD well above most all other consumer product niches in terms of growth, according to Brightfield analysts, who see total CBD sales expanding to $22B over the next 3 years. The Company recently acquired leading sunscreen brand, Block and Tackle (blockandtacklesunscreen.com), in a deal that included all related assets and formulas. The intellectual property included in that deal now forms the foundation for a series of new CBD-based products for FTEG, including its new sunscreen and lip balm lines. Management believes this co-product development...