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MJOG Enters Billion Dollar CBD Market With Subsidiary MJ Biotech
MJOG Enters Billion Dollar CBD Market With Subsidiary MJ Biotech.
About this update from Mushrooms, Inc.
[{"type":"text","content":"\nPALATKA, FL, Oct. 08, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Majestic Oil & Gas, Inc. (OTC: MJOG) (the “Company\") will be entering the emerging Cannabidiol market through MJ Biotech Inc., a subsidiary focused on the cannabidiol (CBD), nutraceutical and pharmaceutical fields. MJ Biotech will explore various avenues in relation to CBD, its products, and delivery methods.  \n With the recent announcement by the  U.S. Drug Enforcement Administration, of removing cannabidiol (CBD) off the most restrictive class of controlled substances, a move that allows the sale of cannabis-derived medicine to win federal approval. The agency announced last Thursday that drugs including \"finished dosage formulations\" of CBD with THC below 0.1% will be considered Schedule 5 drugs, as long as the medications have been approved by the U.S. Food and Drug Administration. (1)  “As previously announced MJOG, through its subsidiary MJ Biotech, will look to focus on Biotech, healthcare, and the nutracuetical market. Now with the published medicinal benefits of CBD and its many helpful benefits, and we are excited for the new changes made by the DEA. We will be aggressively enter into the CBD market and are looking to explore LOI's as we speak,” said Calvin Lewis, CEO of MJOG. “We will also be attending the upcoming CBD Expo Tour in Orlando, Florida on Dec 7-8, 2018.”  The Hemp Business Journal estimated that the CBD market will grow to a $2.1 billion market in consumer sales by 2020 with $450 million of those sales coming from hemp-based sources. That's a 700% increase from 2016. In 2015, the market for consumer sales of hemp-derived CBD products was $90 million, plus another $112 million in marijuana-derived CBD products which were sold through dispensaries – bringing a total CBD market to $202 million last year. (2)  Cannabidiol (CBD) is one of the 100+ cannabinoids found in cannabis and has been the subject of much research due to its many and varied medical applications. But it’s not only its therapeutic attributes that have sparked such widespread interest in CBD in recent years. The compound is also nonpsychoactive (meaning it does not produce the ‘high’ associated with cannabis use), making it a safe and effective option for pat...