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$SING SinglePoint Launches Wholly Owned Brand 1606 Original Hemp


https://www.otcmarkets.com/stock/SING/news/SinglePoint-Launches-Wholly-Owned-Brand-1606-Original-Hemp?id=244861


PHOENIX, Oct. 31, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE – SinglePoint Inc. (OTCQB: SING) has launched into the smokable hemp market, releasing its wholly owned brand, 1606 Original Hemp. The brand will carry a variety of smokable hemp products. Recently, the company presented at NACS 2019 and had a phenomenal response driving the creation of 1606. To date, the company has shipped orders to convenience store owners with a collective 250 doors and has interest from over 100 parties that collectively have over 15,000 doors.

The name derives from the first hemp crop planted in 1606 in North America. SinglePoint has planned to expand the brand quickly through retail, distribution, and a new ecommerce site currently in development.

In today’s world, hemp is becoming very popular. The use of hemp has evolved into diverse products such as lotions, oils, food, beverages, and cigarettes. Smokable hemp is a developing trend, but is it a good way to consume the cannabinoid? Here’s what you need to know:

Hemp vs. Marijuana
Hemp and marijuana are both part of the cannabis family. However, hemp will not get you high unlike marijuana, which is known for its psychoactive effects. Marijuana has high levels of THC, containing anywhere from 5%-35%, whereas hemp has less than 0.3% THC. Hemp contains high cannabidiol (CBD) content which is not psychoactive. Smoking hemp is a positive alternative to marijuana. ”You get the same taste, the same psychological feeling of smoking a joint, but without the high.”

Replacing Tobacco
Pure American Hemp cigarettes are nicotine and tobacco free. Some research suggests that smoking hemp cigarettes could be a potential tool to replace tobacco and nicotine addictions. According to a Brightfield Group survey of more than 5,000 CBD users in the U.S.:

24% have used it to help quit smoking.
Quitters are often replacing cigarettes with
either smokable hemp or vaping.
41% of quitters have entirely replaced
tobacco with hemp CBD.
Google trends reveals over the last year that hemp was researched more often than tobacco and nicotine.

Initial Research
Initial research has shown CBD's ability to reduce cigarette consumption. Researchers at University College London conducted a study of 24 smokers. Each were given an inhaler with CBD or a placebo. For one week, they were to use the inhaler when they had the urge to smoke. Those with the placebo had no difference in cigarettes smoked; those with the CBD inhaler significantly reduced the number of cigarettes smoked by 40%.

The Alternative Market
The Alternative Market has continued to grow drastically, 35% from 2018 to 2019, while cigarettes stayed steady at 3.1%. With the addition of hemp cigarettes and the recent vape scare, many assume the alternative market will continue growing as people look for a “healthier for you” alternative to cigarettes.

The Future
BDS Analytics and Arcview Market Research projects that the collective market for CBD sales in the U.S. will surpass $20 billion by 2024 while New York-based investment bank Cowen & Co, estimates that the market could pull in $15 billion by 2025. The smokable hemp market currently represents approximately 2% of the overall CBD market, but with a 250% growth from 2017 to 2018, Brightfield Group, a Chicago-based cannabis market research firm, identifies dried and smokable hemp flowers as one of the fastest-growing segments of the CBD market.