Axim Biotechnologies Inc. (OTCMKTS:AXIM) has announced
that they have received a seventh private label purchase order for the
company’s proprietary CBD chewing gum in the past five months. The purchase
order equals products sales of chewing gum of around $900,000.
Growing reordering a result of increase in global
latest purchase orders the company has experienced a positive increase in sales
as well as growth in its nutraceutical division which has thus increased its
revenue. The CBD market is growing fast and it is estimated to be around $22
billion globally by 2022. This represents huge business opportunities for AXIM
and its CBD-based chewing within the US market and beyond.
Huemoeller II the AXIM CEO stated that the company’s patented cannabinoid based
chewing gum which is produced with full-spectrum hemp CBD oil has been received
exceptionally by consumers. There has been an increase in reordering form the
company’s customer who wants to keep up with the pace of global demand for the
The CEO further
indicated that AXIM is in the process of building out its nutraceutical
division and with increase in global demand the company is confident that its
unique product line as well as addition of other new products will enhance
consumer demand. AXIM expects that with growing consumer demand the company
will receive more purchase orders throughout 2019 and going into the future.
AXIM creating a niche in the CBD market
The company is
creating a niche market for itself with its patent on CBD chewing gums
alongside the patents for oral compositions that they acquired recently that
contain CBD and topical cream. The chewing gum that is formulated with
full-spectrum oil through the AXIM’s proprietary manufacturing technology that
creates enhances the delivery mechanism thus improving absorption and
AXIM deals with
research and development of CBD-based nutraceutical products and
pharmaceuticals. They have a strong intellectual property portfolio and
currently the company is focused on development of clinical programs that will
enhance efficacy of the products while lowering side effects.