CHARLOTTE, N.C.--(BUSINESS WIRE)--cbdMD, Inc., a nationally recognized, hemp derived, consumer cannabidiol (CBD) brand (NYSE American: YCBD), announced today that it has been added to The Cannabis ETF (NYSE: THCX) (“THCX”), which trades on the New York Stock Exchange. THCX seeks to track the Innovation Labs Cannabis Index, which is a portfolio of 36 stocks expected to benefit from growth of the legal marijuana, CBD and hemp industries.
Martin Sumichrast, cbdMD, Inc. Chairman & Co-CEO, said, “We are very pleased and appreciative of the addition to The Cannabis ETF, after the latest rebalance. As a hemp derived CBD product, this is another milestone for our company that will offer us increased exposure to the US investment market and provide additional momentum in building on our brand.”
“Being a company of firsts, in a disruptive industry, it is rewarding to be validated by the investment community. Our addition to The Cannabis ETF will serve as an important conduit to this community, in the continued educational efforts of our business,” said Caryn Dunayer, President & Co-Founder of cbdMD.
Interest in CBD has surged over recent years; so much so that leading cannabis industry analyst, The Brightfield Group, expects the market could hit nearly $24 billion by 2022 after being valued at $620 million in the United States in 2018. Professional sports leagues, like the BIG3 and Bellator MMA, allow their athletes to use CBD products, specifically cbdMD, for recovery and overall wellness. Nursing homes, traditional medical practitioners, and many non-profit organizations have also embraced CBD.
cbdMD is a nationally recognized consumer cannabidiol (CBD) brand whose current products include CBD tinctures, CBD gummies, CBD topicals, CBD bath bombs, CBD vape oils, and CBD pet products.
This press release contains certain forward-looking statements that are based upon current expectations and involve certain risks and uncertainties within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements can be identified by the use of words such as ''should,'' ''may,'' ''intends,'' ''anticipates,'' ''believes,'' ''estimates,'' ''projects,'' ''forecasts,'' ''expects,'' ''plans,'' and ''proposes.'' These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading "Risk Factors" in cbdMD, Inc.'s Annual Report on Form 10-K for the fiscal year ended September 30, 2018, as filed with the Securities and Exchange Commission (the "SEC") on December 12, 2018, our Quarterly Report on Form 10-Q/A for the period ended December 31, 2018, as filed with the SEC on April 26, 2019, and our Form 10-Q for the period ended June 30, 2019, as filed with the SEC on August 14, 2019, and our other filings with the SEC. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, many of which are generally outside the control of cbdMD, Inc. and are difficult to predict. cbdMD, Inc. does not undertake any duty to update any forward-looking statements except as may be required by law.