Companies have made aggressive moves to get into position for what could be almost a billion dollar market in the U.S. by 2022, according to investment firm Canaccord Genuity, and an even larger market worldwide. What’s this significant new market? Cannabis-infused beverages. And 2020 is poised to be a pivotal year for the cannabis-infused-beverage market.
Rise in production of recreational or medical cannabis in various countries and increase in demand for cannabis-based wellness drink fuel the growth of the global cannabis food and beverage market.
The next bull run will be fueled by value-add products like beverages, edibles, medicines, and more.
Last year, statistics showed that the number of CBD infused drinks being distributed on a daily basis has increased dramatically. Molson sold more than $2 billion in beer last year to Canadian consumers.
A few companies have taken a lead in the exploding CBD infused beverage sector, namely New Age Beverages, Puration, Inc, and Kona Gold. But another company just stepped in the cannabis industry following Acquisition of Developer of Beverages, Charlestowne Premium Beverages Inc. (OTC: FPWM).
Charlestowne Premium Beverages Inc (OTC: FPWM) is a company that develops, produces, markets and distributes alcoholic beverages worldwide. The Company’s portfolio showcases several current spirit brands such as Papa Vodka, and has developed and marketed other proprietary brands for a variety of customers and clients. These include Crocodile Tears Vodka, Lord ReProprietor’s Reserve Whiskey, and Special Reserve Whiskey.
Charlestowne Premium also has Wholesaler and Import permits from the Alcohol and Tobacco Tax and Trade Bureau – the governing body for spirits in the U.S. under the Department of the Treasury.
CEO Martin Ustin just announced a new plan to steer the Company to success. Ustin outlined new short-term goals including eliminating debt, increasing investor confidence and uplisting to OTCQB later in the year.
The Company has already taken steps to enhance its public disclosure on OTC Markets by going from a “stop sign” designation back to “Current” in its filing obligations. Next, Charlestowne Premium plans to audit its financial statements and file a Form Ten (10) to become an OTCQB company this year, increasing transparency for investors and enhancing liquidity.
The next in the strategy aims to increase Net Stockholders’ Equity in the Company by investing and acquiring viable brands, businesses operations and/or assets. The Company has been actively pursuing a niche in the alcoholic beverage market by promoting natural hemp CBD-infused alcoholic beverages.