A leading independent equity research firm, Traders News Source recently released a report on India Globalization Capital, Inc. (NYSEAMERICAN:IGC). The report revealed that the company intends to develop and commercialize Hemp/CBD infused energy drink. IGC at present operates two business lines, a medical cannabis business and a legacy infrastructure firm. Its medical cannabis branch recently developed a flagship drug for the patients of Alzheimer’s.
IGC to move forward with commercialization of hemp/cbd infused energy drink
The company announced its financial results for the third quarter on October 15, 2018, and designated Californian market as a priority for the launch of its cannabis-based Hyalolex supplement. The supplement treats and manages Alzheimer’s patients. In the past few years, the cannabis market has shown stupendous growth.
ICG’s vision is to own and market leading brands for large medical conditions such as PTSD pain, Parkinson’s, Alzheimer’s, cancer, and veterinary medicine. With around eight patent applications filed, IGC now wants to make significant moves in the direction of achieving its goals. The plan to commercialize hemp/CBD infused energy drink is a part of this strategy.
New Age Beverages Corp (NASDAQ:NBEV) to launch cannabis-derived drinks
New Age Beverages Corp (NASDAQ:NBEV) is planning to launch cannabis-derived drinks containing a compound CBD on the lines of the hemp/CBD infused energy drink from IGC. A few days ago, the company disclosed that one of its board members resigned after NBEV found out that he faced disciplinary action from the Securities and Exchange Commission (SEC) previously.
In its SEC filing, the company said it, “was apprised of previously undisclosed information relating to Robert J. Evans and Pennington Capital Management LLC stemming from a November 2014 Securities and Exchange Commission Order.” As per the order, Pennington and Evans will pay $165,000 for settling the charges of buying shares during secondary offering shorted previously in a restricted period.
Companies that deal in CBD beverages like India Globalization Capital or New Age Beverages Corp have been facing the repercussions of being a part of the volatile market of cannabis after Canada legalized recreational marijuana.