SEATTLE, WA, Jan. 03, 2018 (GLOBE NEWSWIRE) -- CFN Media Group ("CannabisFN"), the leading creative agency and media network dedicated to legal cannabis, announces publication of an article covering Friday Night Inc. (CSE: TGIF) (CNSX: TGIF) (TGIF.CN) (OTCQB: TGIFF) and its presence in both of the booming Nevada and California markets for hemp-based cannabidiol products.
California’s Hemp Industry
The hemp-based cannabidiol (CBD) market is projected to become a billion-dollar market in just three years, according to the Brightfield Group. After crossing the $170 million mark in 2016, the analyst projects a 55% compound annual growth rate over the next few years. California could experience some of the most significant growth given the legalization of both medical and adult-use cannabis next year - a move that could increase consumer exposure to cannabinoids.
“One of the most surprising things we found during this research was how many companies are currently operating in the space, and how few of them are generating significant revenue,” said Brightfield Director of Research Bethany Gomez. “Essentially, everyone is trying to do hemp, but only a handful are doing it well. It’s seen as easy because it can be sold online but, with restrictions on traditional marketing, it is very difficult to connect with your core customer.”
The hemp-based CBD market is a highly-fragmented space where distribution is a key bottleneck. Investors interested in the space should therefore seek out established companies that have existing distribution channels for their products, particularly in states like California that are likely to see a sharp increase demand next year. Furthermore, investors may want to consider companies that are diversified across other areas of the market to reduce risk.
Expanding into California
Friday Night Inc. (CSE: TGIF) is a Canadian public company that owns both cannabis and hemp-based assets in Las Vegas, Nevada. In addition to its 91% owned Alternative Medicine Association - a licensed medical and adult-use cannabis cultivation and production facility - the company owns 91% of Infused MSG, which produced hemp-based CBD products using high quality organic botanical ingredients that are thoughtfully crafted into premium products.
On December 15, the company announced that its Canna Hemp product line would be sold to cannabis dispensaries and other retail outlets in the State of California. Management indicated that it has already received multiple purchase orders from several California retailers, which represents the first step in its efforts to expand its brand into California. The state is widely seen as becoming a hub for nationwide cannabis brands given its large size.
Friday Night’s current distribution into existing dispensaries across California solves a key issue facing many other hemp-based CBD manufacturers. The exposure of its brands in these retail locations could also increase awareness and further differentiate its products from other companies developing CBD-based supplements. With a cannabis cultivation arm, the company is uniquely positioned to build upon these relationships and create diverse revenue ahead.
Please follow the link to read the full article: http://www.cannabisfn.com/friday-night-expands-distribution-california/
For more information, visit the company’s website at www.fridaynightinc.com.
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Except for the historical information presented herein, matters discussed in this release contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Emerging Growth LLC, which owns CFN Media and CannabisFN.com, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. Emerging Growth LLC may from time to time have a position in the securities mentioned herein and may increase or decrease such positions without notice. For making specific investment decisions, readers should seek their own advice. Emerging Growth LLC may be compensated for its services in the form of cash-based compensation or equity securities in the companies it writes about, or a combination of the two. For full disclosure please visit: http://www.cannabisfn.com/legal-disclaimer/
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