$PNTV--(((BREAKING-NEWS)))-Players-Network-to-Enter-Lucrative-CBD-Market GlobeNewswire•October 25, 2018 PNTV has been working with a firm to develop “best of breed” CBD products which open up sales to all states, as well as International
LAS VEGAS, Oct. 25, 2018 (GLOBE NEWSWIRE) -- Player’s Network, Inc. (OTCQB: PNTV), a rapidly growing company in the recreational and medical marijuana industry with licensed grow operations in 2 states, announced today they are entering the CBD market to expand the Green Leaf brand into all 50 states plus DC as well as International.
PNTV is already well positioned in the cannabis industry with operations in Nevada and California. The goal of entering the CBD market is to diversify their holdings and position themselves as leaders in the CBD Space. This also enables PNTV to sell Green Leaf products throughout the United States as well as International. This move enables the company to start generating additional sales and increasing their customer base as new states (and countries) come online for cannabis sales, they already have a base of customers to sell.
Currently, the market for CBD is on track to generate more than $600 Million in 2018. Forbes reported that CBD sales will reach over $1 Billion by 2020. The CBD market has nearly doubled between 2017 and 2018 and projections over the next 5 years are significantly higher than in recent years. The anticipated exponential growth is primarily due to the expectation of the Hemp Farming Act of 2018 (Farm Bill) passing. If passed, this bill will legalize hemp as well as its byproducts which include extracts and cannabinoids, including hemp CBD. The market for CBD-derived products is expected to rapidly expand up to $22 Billion by 2022.
For the past few months, PNTV has been working with a firm to help them effectively enter into the CBD market as well as develop a plan for significant distribution. The firm has developed Green Leaf’s CBD product line, an e-commerce consumer-facing website, and a plan to distribute products to vendors, including an affiliate program and identifying influencers.
During the initial launch, all PNTV shareholders and investors who have signed up for the Investor Portal (http://playersnetwork.com/ir) will be the first to know about Green Leaf’s CBD store and will receive generous discounts and promotional codes for the first week in operations.
Brett H. Pojunis, PNTV Director, said “the CBD market is growing at a faster rate than cannabis and CBD provides a natural extension to our existing business. Consumers want the ability to use cannabinoids and its benefits without the psychoactive effects of THC. The booming CBD market consists of dozens of product lines and is surpassing the THC market with lucrative margins, without the regulations and the barrier to the market.” Pojunis adds, “I am truly excited about the brands and products we have developed thus far, we will release everything with the specific news that will be forthcoming shortly.”
About Player’s Network (PNTV) Player’s Network is a rapidly growing company in the marijuana industry with licensed grow operations in Las Vegas and California that trades on the OTC Market – stock symbol PNTV. Over the last 12 months, the Company has gone from a development stage company to a fully operational cannabis business. Their business strategy is growth by acquisitions, joint ventures, and new market opportunities. They recently entered into $5,000,000 acquisition of a California grow operation.
Cannabis is legal for medical use in 30 States plus DC. It is legal for adult recreational use in 9 States plus DC. The entire country of Canada has legalized marijuana adult use starting on October 17, 2018. The Company believes this trend of legalizing marijuana will continue and create tremendous growth opportunities for their shareholders.
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