Hoping to cash in on the CBD oil boom is Avalon Oil & Gas Inc. (OTC:AOGN) who The Cannabist reports is changing their business model from an oil and gas company to a producer of industrial hemp CBD personal grooming and cosmetic products. The penny stock Minneapolis company is just one of a long line of oil and gas and mining firms looking to grab a piece of the green rush sweeping across North America.
As evidence continues to surface over the benefits of CBD for humans, more and more people are turning their attention to what it can do for pets. CBD for domesticated animals, most notably cats and dogs, is gaining considerably more attention from consumers, and, in turn, the cannabis industry.
Hoosier state analysts and industry insiders alike expect commercial gains following the recent passage of Senate Bill 52 in the Indiana House. The bill, if signed could legalize CBD with low THC content in the state. Legislators in the state continue to move forward with the bill following Attorney General Curtis Hill’s November opinion declaring CBD oil illegal.
Cannabidiol gained some unwanted attention recently, all of it stemming from a 2016 DEA pronouncement listing CBD as an illegal drug. With the ruling, state and local law enforcement officials began a targeted disinformation campaign targeted at disrupting the industry. In Tennessee, 23 shops were recently raided and padlocked, with store owners arrested for selling “illegal or synthetic drugs” to minors.
Too often dismissed as out of touch by dispensaries and other CBD retail outlets, senior citizens are quickly showing themselves to be an untapped demographic in the ever-growing CBD market. In fact, older Americans are an ideal target group for a product with the healing potential of CBD, and with prescription medication costs on the rise, they are ripe for suggestion as well.