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Booming European CBD Sales Signal a New Potentially Multi-Billion-Dollar Market

Baystreet.ca

Thanks to a trending new use as a tobacco substitute cannabidiol (CBD) sales are exploding across Europe. According to research firm Brightfield Group, European CBD sales will surge by more than five times to reach nearly US$1.7 billion in 2023, further boosting interest in CBD-producing companies, including MYM Nutraceuticals Inc. (CSE:MYM) (OTC:MYMMF), CV Sciences Inc. (OTC:CVSI), Curaleaf Holdings, Inc. (CSE:CURA) (OTC:CURLF), Tilray, Inc. (NASDAQ:TLRY), and Green Growth Brands Inc. (CSE:GGB) (OTC:GGBXF).

Globally, Brightfield Group has also projected CBD sales to hit US$22 billion by 2022. This potential gave rise to North American companies looking for global opportunities, such as MYM Nutraceuticals Inc. (CSE:MYM) (OTC:MYMMF) who announced three new international CBD-rich projects over the last 6 weeks.

Starting in late March, MYM increased its stake in Colombia Organica to 80%. The project includes 3 licenses, which involve the production of cannabis derivatives, and cultivation of both psychoactive (THC) and non-psychoactive (CBD) cannabis.

MYM followed up with another Latin ... Click here to view full article