On June 28, 2021, CBDual Biotechnology Corp's parent company, THC Farmaceuticals, Inc (OTC: CBDG), announced the passing of its Chairman and CEO, Senator Mike Gravel. Known for his political activism, Gravel contributed significantly to cannabis legalization efforts. His departure raises concerns about leadership stability in CBDG, which specializes in CBD and THC-based products. The company also focuses on clinical trials for cannabis and psilocybin innovations. As CBDG navigates these changes, it faces challenges in maintaining market confidence and investor relations.
CBDual Biotechnology Corp (OTC: CBDG) announced a binding agreement to acquire a controlling stake in G.K. Manufacturing from Cannabis Sativa, Inc. (OTCQB: CBDS). This acquisition aims to boost CBD product production, leveraging G.K.'s capacity to manufacture up to 12 million units monthly in Anaheim, California. The deal enhances CBDG's market position by expanding its product range and entering the U.S. market with established brands like Ganja Juice. The global CBD market, valued at USD 20.3 billion in 2019, is projected to grow at a CAGR of 25.6% through 2027.