The global CBD market is on an upward trajectory, and there are no indications that the growth could be slowing down anytime soon. The market was valued at $5.18 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 16.8% from 2022 to 2030.
The positive growth projections could be good news for industry watchers and players like 1606 Corp (OTC: CBDW), which plans to accumulate a diverse portfolio of cannabidiol (CBD) products and companies nationwide by consolidating the fragmented CBD industry via acquisitions.
Due to the numerous benefits of CBD, including treating anxiety and seizures and reducing pain, there is growing demand for health and wellness purposes. This ever-increasing demand and rising acceptance and use of CBD products thanks to increasingly friendly government regulations could significantly benefit a player like 1606.
$20 Million Financing For CBD Businesses Acquisition
The company, in line with its growth plans, recently revealed on February 16 that it had secured $20 million in financing to acquire CBD businesses after entering into an Equity Financing Agreement. (8-K)
“We’re moving fast. Now that we have our feet underneath us since receiving the ticker symbol CBDW and now we’re taking definitive steps toward adding shareholder value. This $20 million …