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A service for biotechnology industry professionals · Tuesday, October 23, 2018 · 465,908,961 Articles · 3+ Million Readers

MJOG Enters Billion Dollar CBD Market With Subsidiary MJ Biotech

/EIN News/ -- PALATKA, FL, Oct. 08, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Majestic Oil & Gas, Inc. (OTC: MJOG) (the “Company") will be entering the emerging Cannabidiol market through MJ Biotech Inc., a subsidiary focused on the cannabidiol (CBD), nutraceutical and pharmaceutical fields. MJ Biotech will explore various avenues in relation to CBD, its products, and delivery methods.  

With the recent announcement by the  U.S. Drug Enforcement Administration, of removing cannabidiol (CBD) off the most restrictive class of controlled substances, a move that allows the sale of cannabis-derived medicine to win federal approval. The agency announced last Thursday that drugs including "finished dosage formulations" of CBD with THC below 0.1% will be considered Schedule 5 drugs, as long as the medications have been approved by the U.S. Food and Drug Administration. (1) 

“As previously announced MJOG, through its subsidiary MJ Biotech, will look to focus on Biotech, healthcare, and the nutracuetical market. Now with the published medicinal benefits of CBD and its many helpful benefits, and we are excited for the new changes made by the DEA. We will be aggressively enter into the CBD market and are looking to explore LOI's as we speak,” said Calvin Lewis, CEO of MJOG. “We will also be attending the upcoming CBD Expo Tour in Orlando, Florida on Dec 7-8, 2018.”

 The Hemp Business Journal estimated that the CBD market will grow to a $2.1 billion market in consumer sales by 2020 with $450 million of those sales coming from hemp-based sources. That's a 700% increase from 2016. In 2015, the market for consumer sales of hemp-derived CBD products was $90 million, plus another $112 million in marijuana-derived CBD products which were sold through dispensaries – bringing a total CBD market to $202 million last year. (2)

 Cannabidiol (CBD) is one of the 100+ cannabinoids found in cannabis and has been the subject of much research due to its many and varied medical applications. But it’s not only its therapeutic attributes that have sparked such widespread interest in CBD in recent years. The compound is also nonpsychoactive (meaning it does not produce the ‘high’ associated with cannabis use), making it a safe and effective option for patients who may be concerned about the mind altering effects of other cannabinoids such as THC.

 About Majestic Group Holdings, Inc.

Majestic Group Holdings, Inc., a diversified holding company that has several operating subsidiaries in various segments, including, but not limited to, Healthcare, Cannabis, and Biotech. With the best management available to expand these companies to their maximum growth, and potential. Majestic has already acquired other companies as well, to create tremendous synergy, and to bring additional revenue, and with the greatest structure possible, the company will deliver the strongest values for their shareholders.

Safe Harbor Statement

This news release may contain "forward-looking" statements. These forward-looking statements are only predictions and are subject to certain risks, uncertainties, and assumptions that could cause actual results to differ from those in the forward-looking statements. Potential risks and uncertainties include such factors as uncertainty of consumer demand for the Company's products, as well as additional risks and uncertainties that are identified and described in the Company's SEC reports. Actual results may differ materially from the forward-looking statements in this press release. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company does not undertake, and it specifically disclaims, any obligation to update any forward-looking statements to reflect occurrences, developments, events or circumstances after the date of such statement.

Majestic Group Holdings, Inc.

info@majesticgroupholdings.com

Phone: 844-544-4014

www.majesticgroupholdings.com

Twitter:@majesticMJOG


Sources- (1) https://finance.yahoo.com/news/dea-rescheduling-makes-cbd-stocks-143000915.html

Source- (2) https://www.forbes.com/sites/debraborchardt/2016/12/12/the-cannabis-market-that-could-grow-700-by-2020/#4fccfec64be1

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