High-flying CanaFarma Hemp Products (CAN:CNFA / GER:WKN A2P0WJ) wants to help people clear up their complexion.
Acne Vulgaris (facial acne) is a skin condition that afflicts between 79% and 95% of adolescents. Even in adults above 25 years of age, between 40% and 54% have some issues with acne.
The social and psychological costs of these complexion issues are enormous. Hence treating acne is big business.
This was already a $4.9 billion global market as far back as 2016. It is projected to grow to $7.35 billion by 2025 (source: Statista).
On May 12, 2020, CanaFarma announced a new hemp oil-infused skin cream. The product is aimed at relieving three acne-related skin symptoms:
- Oil production
CanaFarma is targeting Q2 2020 for the official launch of this product.
CEO David Lonsdale offered investors a teaser.
Indeed, the release also noted that this acne cream is “the first product” in a new line. Look for upcoming product announcements here.
This comes at a time when CanaFarma’s stock has been rising steadily. Sitting at CAD$0.84, CanaFarma is trading nearly 70% higher than its initial day closing price of CAD$0.50 on March 19, 2020.
The US$20 million private placement announced by CanaFarma earlier this week has only fueled the stock’s momentum.
CanaFarma’s results to date have been driven by its YOOFORIC™ product line of (CBD-rich) 100% organic hemp oil and hemp-oil infused consumer products. YOOFORIC™ revenues are now at approximately $1 million per month.
With CanaFarma’s new line of hemp oil-derived skin care products, the Company now has an additional revenue driver to plug into its potent direct-to-consumer marketing engine.
Cashed up, with rising revenue and new products coming to market, CanaFarma is giving investors more reasons to add this stock to their portfolio.
DISCLOSURE: CanaFarma is a client of The Seed Investor.
Published at Tue, 12 May 2020 17:43:09 +0000