Smart Cannabis (OTCMKTS:SCNA)’s newly acquired Budding Botanicals is engaged in the retail sale of CBD hard candies, CBD 25 mg capsules, CBD salves in two versions without or with THC, CBD tinctures (in sizes ranging from 100 mg to 1,500 mg), and CBD pet treats. It has merged Budding Botanicals with its subsidiary – Next Generation Farming.
Smart Cannabis diversifies business strategies
The new executive management of Smart Cannabis has diversified business strategies with the takeover of hemp and CBD retail operations. Smart Cannabis has recruited Mark Cheung as the interim Chief Executive Officer in Q3 2019. Mark sought to embrace the promising hemp and CBD businesses to promote growth.
Smart Cannabis enters cannabis space
Smart Cannabis enters the cannabis space with the takeover of Budding Botanicals’ hemp and CBD retail sales operations. The market for cannabis surged significantly in 2019. According to an analyst, it is just the beginning. Cowen Vivien Azer, a top cannabis analyst on the Wallstreet, expects that the market for cannabis in the US will reach $80 billion by the year 2030. Interim Chief Executive Officer of Smart Cannabis, Mark Cheung, said the company is preparing to clinch a higher share of the growing CBD market.
Budding Botanicals sells 100% organic CBD products
Budding Botanicals is engaged in the cultivation, processing, packaging, and bottling of hemp and CBD products. The company only sells 100% organic CBD products. Budding Botanicals grows products indoors and organically. It uses organic processes to extract isolate from hemp. The company is committed to not add any non-organic or unnecessary things to its hemp and CBD products.
Dawn Norby will head the operations of Budding Botanicals. She founded and established the retail business for an organic niche. Though Budding Botanicals has not yet received the organic certification from the USDA, it only uses organic ingredients in the production of its products.
The new Chief Executive Officer of Next Generation Farming, Dawn Norby, said she supervises the processes to use only organic ingredients and get separated from others. Next Generation Farming manages Budding Botanicals. Commenting on the development, Norby said she has established Budding Botanicals and intends to market healthier products that are manufactured using organic ingredients only.
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