- Hemp-derived cannabidiol (CBD) sales projected to surpass $1 billion in five years
- Grey Cloak Tech has acquired Eqova Life Sciences, an established producer of a range of clinical-grade CBD products
- This acquisition strengthens Grey Cloak’s position in this market sector and is likely to accelerate its growth
On the back of several forecasts of explosive growth in the cannabidiol (CBD) market, Grey Cloak Tech, Inc. (OTCQB: GRCK) has made a strategic decision to focus its efforts in this sector. The Hemp Business Journal reports projected growth of 700 percent by 2020, to reach annual sales of $2.1 billion, according to Forbes (http://ibn.fm/7ZeLy). Cannabis-derived CBD products comprise the bulk of the market at present, but the Brightfield Group (http://ibn.fm/66BMC) predicts a phenomenal compound annual growth rate (CAGR) of 55 percent in hemp-derived CBD sales to pass the billion-dollar mark within five years.
On October 24, 2017, Grey Cloak announced that it had acquired 100 percent of Eqova Life Sciences, an established producer of a wide range of clinical-grade hemp CBD oil products supplying medical practitioners. Grey Cloak believes that these practitioners are underserved in sourcing high-quality CBD products. Eqova has developed its own high quality, branded hemp oil health products but has the capabilities to produce private labels for qualified partners.
Eqova’s products are not developed for recreational use, and the company only uses natural, standardized phytocannabinoid-rich hemp oil in its medical-grade, CBD-based products. It employs a rigorous product development cycle, where each ingredient is studied in isolation and in the context of other ingredients, use case and delivery method. Eqova has developed cutting-edge delivery methods for oral, topical, liposomal and sublingual applications. The company’s innovative products and commitment to stringent quality control ensures that medical practitioners receive high quality, consistent pharmaceutical-grade ingredients with standardized dosing to help their patients.
The products are thoroughly researched by a team of medical experts and manufactured in cGMP-compliant laboratories in the U.S. All of the company’s products contain no unnecessary or harmful fillers and no, or only trace amounts of, psychoactive ingredients like tetrahydrocannabinol (THC). Each product delivers a consistent dose of active ingredients and is exclusively distributed through qualified health practitioners to ensure maximum safety.
On October 7, 2017, Eqova exhibited its CBD products at the Integrative Medicine Summit in Denver, Colorado. The summit was attended by more than 200 medical professionals and presented the company with an opportunity to debut its new product, CannaBio Salve, a topical ointment made with several aromatic natural oils. Eqova President Patrick Stiles said, “I was overwhelmed with the interest in our product line. Clearly the practitioner space is severely underserved, and our clinical brand addresses their concerns about the CBD and Full Spectrum Hemp Oil industry very well. The topics of the show were a perfect match for the Eqova line of products. Because of our unique positioning, and serving the practitioners we opened several new accounts.”
As further evidence of Grey Cloak’s commitment to the CBD market sector, the company announced earlier this month the launch of CBD.co, a marketplace for CBD-based products. Five days later, on January 8, 2018, Grey Cloak announced the launch of its new YouTube channel, CBD TV. This is intended to serve as a platform for CBD education, product reviews and interviews with top players in the CBD and hemp space.
In short, Eqova Life Sciences provides products that combine the powerful benefits of CBD with the scientific research to validate use cases, administered only under the care of a qualified medical practitioner. This acquisition is set to strengthen Grey Cloak’s position in the CBD market and accelerate its growth.
For more information, visit the company’s website at www.GreyCloakTech.com
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