- 3Q2018 launch is planned for three more flavors in company’s CBD raw dark chocolate edibles line, prepared in conjunction with partner Karmavore Superfoods
- Edibles segment of CBD market is growing in states where marijuana is legal, such as Colorado, Oregon and Maine, with cannabis chocolate sales soaring
- Extension of ETST’s raw dark chocolate CBD line will boost total to five flavors
Earth Science Tech, Inc. (OTC: ETST) has revamped its line of CBD products and will extend its line of raw dark chocolates in conjunction with joint venture partner Karmavore Superfoods. Research shows that, in several states where marijuana is legalized, such as Colorado, Oregon and Maine, both edibles and chocolates are growing.
ETST has extended its unique full spectrum cannabinoid CBD raw dark chocolate line to five products, with new flavors including Covered Mangoes, Coconut Peppermint Cups and Caramelized Quinoa Crunch. All were formulated with ETST’s joint venture partner, Karmavore Superfoods, a health foods company. Launch is expected in the third quarter of 2018 (http://cnw.fm/qiT1v).
Chocolates are a growing segment of the CBD market. According to research firm BDS Analytics, gummies are first, and chocolate pieces are second in growth. Candies accounted for 38 percent of all cannabis edibles industry sales, with chocolate pieces exhibiting 166 percent expansion in Colorado and Oregon in the first quarter of 2018 (http://cnw.fm/Nst27).
ETST, a biotech company based in Doral, Florida, is focused on developing medical devices for the pharmaceutical and nutraceutical fields and marketing its high-grade line of hemp cannabidiol. It also manufactures, markets and distributes its own cannabinoid products, including capsules and oils, to the nutraceutical and pharmaceutical markets.
According to Cannabis Business Executive, Colorado cannabis edibles sales grew by 10 percent in January and February of 2018 versus the same period of 2017, outpacing the seven percent broader cannabis marketplace growth in the state (http://cnw.fm/XaJ5z). During that same period, edibles in Oregon grew by 87 percent.
In Maine, edibles are gaining a larger share of medical marijuana sales. In 2016, some 7.4 percent of its medical marijuana taxes came from edibles, as reported by the state’s Department of Administrative and Financial Services. In the prior year, the Portland Press Herald had the number as 5.4 percent (http://cnw.fm/yTU2J).
ETST holds several wholly-owned subsidiaries. Cannabis Therapeutics is an emerging biotechnology company. KannaBidioiD manufactures and distributes in the recreational sector. Earth Science Foundation is becoming a non-profit and accepts grants and donations to conduct additional studies. Earth Science Pharmaceutical develops medical diagnostic tools and vaccines. Earth Science also has the subsidiary Canno Inno Laboratories Inc., a strategic Montreal, Canada-based company formed to provide ETST with access to government grants.
For more information, visit the company’s website at www.EarthScienceTech.com
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