CanaFarma Hemp Products Corp. (CSE: CNFA) is a full-service company operating in the hemp industry offering a full range of hemp-related products and services to the consumer wellness market.
These products and services include growing top-quality hemp, providing hemp-processing services, and offering hemp-based products to consumers utilizing a well-established direct-to-consumer marketing approach.
CanaFarma is building a fully integrated, multi-faceted hemp products brand company. From plant to finished goods, CanaFarma creates high-grade hemp-based formulations supported by science and innovation. Designed to meet consumer demand in this rapidly growing market, CanaFarma’s proprietary brand machine and its direct-to-consumer demand marketing engine poise this company to be an industry leader in the branded hemp product space.
The company independently grows, produces, promotes, sells, and ships its own products.
The company just announced that, in September, it will begin manufacturing in-house its patent-pending cannabinoid-infused center-filled chewing gum. CanaFarma has filed provisional patents in both the US and Europe for this new innovation in confectionary hemp delivery, the center-filled chewing gum.
According to the release, the Company has been working with its research and development partner, APet Holding BV, testing the product, and refining the manufacturing process. With the testing program expected to be complete in August, CanaFarma is scheduled to begin manufacturing the center-filled chewing gum in September. The two patents pending regarding the invention relate to chewing gum or lozenge composition that can be liquid filled containing high-quality hemp oil, naturally enriched with many phytocannabinoids, including hemp. The invention will serve as an extension to the widely popular YOOFORIC, hard-shelled chewing gum, currently marketed and sold by CanaFarma. The Hemp extract in the gum (or lozenge and/or in the liquid filling thereof) is in an amount of up to 100 mg per unit dose.
The invention is designed to have a high initial release rate of the hemp sourced hemp by releasing the oil from the center with the first bite. Due to the design, the long-lasting chewability of the gum encourages an extended-release. The absorption rate of the currently marketed YOOFORIC™ formula has been tested to be at an industry-leading 84% and because the actives are absorbed through the buccal cavities within the mouth, the center-filled version is expecting to test at even stronger bioavailability levels. The combination of the two technologies makes this new center-filled gum an advanced and fun way to enjoy the benefits of full-spectrum hemp oil and hemp.
David Lonsdale, CEO of CanaFarma said, “We are very pleased to be delivering this patent-pending, cannabinoid-infused, center-filled chewing gum extension to our YOOFORIC™ range of products, and expect it to be very well received by our customers.”
Just before that, the company announced that it conducted an analysis of its product sales from its first six months of sales activity (from June to November 2019). Sales of CanaFarma’s first two products, YOOFORIC™ chewing gum and YOOFORIC™ tincture, commenced in June 2019. CanaFarma has completed this review of its first six months of revenues in order to assess its marketing direct response model.
In the release, the company revealed some very interesting data points: the re-order rate of products by customers in its YOOFORIC™ brand was 68%; the daily order count was approximately 300 orders per day, which was in line with budget expectations; the cost to acquire customers or Cost Per Acquisition (“CPA”) was 10% lower than had been budgeted; the Company’s re-marketing efforts to customers achieved results which were 28% better than projections; and 65% of customers also chose to try a second product under the YOOFORIC™ brand, demonstrating a high degree of confidence in brand equity and credibility.
CEO Lonsdale said, “We are gratified by the response that our customers have shown to our marketing efforts. These results provide us a great deal of confidence in our marketing approach as we look to scale up our marketing and sales efforts in the future.”
CanaFarma Hemp Products Corp. (CSE: CNFA) shares just triggered an RSI oversold bull signal. That is significant because it corresponds with other key signals on the chart.
Specifically, the oversold bull signal from the oscillator comes in sync with multiple key support factors that form a confluence support zone just under the $1/share level, focused around the $0.90/share price point.
This is where we see the intersection of price range level support from its prior consolidation in step with the primary test of its current and driving upward-sloped trendline, which was established in mid-April and ratified in early May on a sharp hammer doji daily candle.
CanaFarma Hemp Products Corp. (CSE: CNFA) is a full-service company operating in the hemp industry offering a full range of hemp-related products and services to the consumer wellness market.
These products and services include growing top-quality hemp, providing hemp-processing services, and offering hemp-based products to consumers utilizing a well-established direct-to-consumer marketing approach.
CanaFarma is building a fully integrated, multi-faceted hemp products brand company. From plant to finished good, CanaFarma creates high grade hemp-based formulations supported by science and innovation. Designed to meet consumer demand in this rapidly growing market, CanaFarma’s proprietary brand machine and its direct-to-consumer demand marketing engine poise this company to be an industry leader in the branded hemp product space.
The company independently grows, produces, promotes, sells, and ships its own products.
The Hemp story is still in its early chapters and analysts and experts agree that the lion’s share of investment gains from the Hemp “mainstreaming” process has yet to be collected by market participants.
CanaFarma Hemp Products Corp. (CSE: CNFA) represents an interesting new model with a more aggressive focus on marketing and brand expansion. Given the growth that appears to lie ahead in the space, and the company’s successful application of its model thus far, CSE: CNFA shares appear promising, especially given the technical posture that has come together on the charts in recent action.
Symbol: CSE: CNFA
Company: CanaFarma Hemp Products Corp.
Quote: https://finance.yahoo.com/quote/CNFA.CN
Latest News: https://finance.yahoo.com/quote/CNFA.CN/press-releases
Company Website: https://www.canafarmacorp.com/Investors
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