A cannabis spray has been created by a company called X-sprays that is full of cannabidiol. The move made so much sense to CNRP Mining that they recently purchased the spray company.
Health issues associated with the smoking of cannabis has really led to a shift in thought for marijuana users. Instead, marijuana users are more focused on vaping, edibles and cannabis spray these days apparently. Sales for cannabis extracts and edibles have been skyrocketing relative to the purchase of smoke-able flower. Are you opposed to smoking marijuana?
In early August, we highlighted CNRP Mining (CND.CN) (CRPGF) as an undervalued and attractive investment opportunity after it announced the acquisition of X-Sprays.
If you acted on this development, you are feeling pretty good about your decision as the shares are up 90% following the acquisition announcement.
An Execution Story
We are favorable on this acquisition and expect to see the company continue to execute and deliver value to shareholders.
X-Sprays is a very attractive company due to its product portfolio, its management team, and its track record. The company develops and sells a life-enhancement product line that is administered through an optimal oral spray delivery system.
X-Sprays’ proprietary product line is comprised of eight health care and life enhancement nutraceutical products that include both hemp CBD and nutraceutical ingredients (4 with CBD and 4 nutraceutical).
Issues Acquisition and Financing Update
Today, CNRP provided an update on its acquisition of X-Sprays and reported to have completed its due diligence process and is ready to move forward with the transaction. The company is drafting a definitive acquisition agreement and expects to have it completed within the next two weeks.
CNRP reported that it intends to close its previously announced non-brokered private placement offering of up to 10 million common shares at $0.30 each for $3 million in gross proceeds.
The company also received approval from The Depository Trust Company (DTC) and is now DTC eligible. After this move, the U.S. symbol, CRPGF up-listed onto the OTCQB exchange.
Targeting a Multi-Billion-Dollar Opportunity
The company is targeting indications with a massive addressable market and has focused its efforts on creating a natural product line of oral sprays to deliver medicines, nutrients and vitamins.
X-Sprays’ product provides a precise dose and each one contains a 30-day supply when used as suggested (8 sprays every day). The company’s products include:
Pain relief – Fast acting and non-addictive
Awareness – Increases focus naturally
Sleep – Improves sleep without addictive additives
Libido – Enhances your libido naturally
Energy – Caffeine free and quick acting formula
Recovery – A dose of natural ingredients to help you get through any day
X-Sprays plans to expand its product line to include THC based products and expects to see the products generate significant demand with consumers. The product line is unique when compared to other products on the market and we believe this offers the company a competitive advantage.
A Low-Cost Expansion and Growth Opportunity
X-Sprays is poised to benefit from a very significant trend within the cannabis industry, smokeless products.
One of the reasons why we expect X-Sprays to see continued growth is due to a growing trend toward smokeless products. Cannabis based products have also been found to possess tremendous health benefits and this has made the products very attractive to consumers, especially the elderly.
One of the attractive aspects of X-Sprays’ fundamental story relates to the minimal capital and resources needed to enter new markets. X-Sprays is implementing a multi-faceted distribution strategy and will use traditional retail outlets, its e-commerce outlet, and non-traditional retail outlets such as spas, bars, and hotels.
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