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Currently, only 28 states, plus Washington, D.C., have laws that allow for the legal sale of medicinal and/or recreational marijuana with Vermont recently passing adult recreational use and Florida, North Dakota and Arkansas passing medicinal cannabis use.
Two key parallel forces are the primary drivers behind industry growth:
-The addition of new legal markets as additional states pass laws to permit cannabis use.
-Sustained growth in demand in legal states as consumers transition from illicit to legal markets.
Increasingly high demand for legal cannabis and hemp concentrates and edibles will create buoyancy in prices as these value-added products should retain their premium pricing more so than the cannabis/hemp flower, which is typically more vulnerable to pricing pressure as supply increases.
Therefore, our products, Omega Hemp Water and CBD Pharmacy, being value-added products, should maintain stable, premium pricing.