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cbdMD Launches New Full Spectrum Product Line; Expansion Doubles Total Addressable Market
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cbdMD, Inc. (NYSE American: YCBD) has announced the launch of its new full spectrum product line, which includes tinctures and softgels with trace THC levels compliant with the 2018 Farm Bill. This expansion marks a significant milestone for the company, as full spectrum products account for over 50% of the total CBD market, according to the Brightfield Group. The introduction of these new offerings aims to broaden cbdMD's customer base while maintaining its commitment to THC-free options. Current available products can be found on cbdMD.com.
Positive
New full spectrum product line launched, including tinctures and softgels.
Full spectrum products make up over 50% of the CBD market, indicating strong demand potential.
Expansion aims to attract a broader consumer base while still offering THC-free options.
Negative
None.
Full Spectrum Tinctures and Softgels Now Available Alongside THC-free1 Products
CHARLOTTE, N.C.--(BUSINESS WIRE)--
cbdMD, Inc. (NYSE American: YCBD, YCBDpA), one of the leading, and most highly trusted and recognized CBD companies, announced for the first time in its history it is expanding its product offering with a new line of full spectrum products. These products offer a full plant profile containing trace amounts of THC well within the legal limit in accordance with the 2018 Farm Bill (less than 0.3% THC by dry weight basis).
cbdMD tincture and soft gels, as part of the new full spectrum product offerings. (Photo: Business Wire)
“This is a significant milestone for our Company. Full spectrum products represent over 50% of the total addressable CBD market, according to the Brightfield Groupa. We are already recognized as one of the leaders in Superior Broad Spectrum hemp extract, a THC-free1 formula. This has proved a popular option for professional athletes and others who undergo regular drug testing. Now with the expansion into the full spectrum product market, we have the opportunity to expand our consumer base and product offerings even further, allowing our customers a choice of the product that’s right for them. We are still committed to expanding our THC-free1 line of products, but we’re excited to offer customers an entire new wellness experience through the benefits of the entire hemp plant. This is an exciting time to be a part of an industry that continues to find new ways to help millions of people across the world,” said Martin Sumichrast, Chairman & co-CEO of cbdMD, Inc.
Current full spectrum product offerings on cbdMD.com include tinctures with 300, 750, or 1500 mg of CBD per 30 mL bottle, available in Chocolate Mint or unflavored Natural. Alongside the tinctures are 1000 and 2000 mg softgels available in a 30 and 60-count bottle. More products are in development as the company builds out a complete full spectrum line to match its wide array of broad spectrum offerings.
About cbdMD, Inc.
cbdMD, Inc. is one of the world’s leading, most highly trusted health & wellness CBD companies, whose current products include CBD tinctures, CBD capsules, CBD gummies, CBD topicals, CBD botanical skincare products, CBD bath bombs and CBD pet products. To learn more about cbdMD and our comprehensive line of over 100 SKUs of U.S. produced, THC-free1 CBD products, please visit www.cbdMD.com, follow cbdMD on Instagram and Facebook, or visit one of the 6,000 retail outlets that carry cbdMD products.
Forward-Looking Statements
This press release contains certain forward-looking statements that are based upon current expectations and involve certain risks and uncertainties within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements can be identified by the use of words such as ''should,'' ''may,'' ''intends,'' ''anticipates,'' ''believes,'' ''estimates,'' ''projects,'' ''forecasts,'' ''expects,'' ''plans,'' and ''proposes.'' These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements, including, without limitation, statements made with respect to the expansion of the consumer market for CBD products and our ability to increase our market share, our limited operating history, our ability to expand our business and significantly increase our revenues, our ability to effectively leverage our brand partnerships and sponsorships, our ability to effectively compete in our market, our ability to achieve our net sales guidance, and our ability to report profitable operations in the future. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading "Risk Factors" in cbdMD, Inc.'s Annual Report on Form 10-K for the fiscal year ended September 30, 2020 as filed with the Securities and Exchange Commission (the "SEC") and our other filings with the SEC. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, many of which are generally outside the control of cbdMD, Inc. and are difficult to predict. cbdMD, Inc. does not undertake any duty to update any forward-looking statements except as may be required by law. The information which appears on our websites and our social media platforms, including, but not limited to, Instagram and Facebook, is not part of this press release.
1THC-free is defined as below the level of detection using validated scientific methods.
aAccording to Brightfield Group CBD Consumer Insights, Q2’21.
