Cannabis Global Inc (OTCPINK:CBGL) closed the last session at $0.0220 with a gain of 28.65%, bringing its market cap to $2.56M. A recent trade of 14.87M shares of CBGL stock exceeded its average daily volume of 686.89K shares. Additionally, the shares trade in a range of $0.0170 to $0.0245. In pink sheets, CBGL has 116.43M outstanding shares against 28.21M float. CBGL stock spiked after a new research initiative was announced.
What CBGL does plan to research?
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Cannabis Global is a Los Angeles-based company that is fully audited and reports to the US Securities & Exchange Commission under the symbol CBGL. Cannabis-focused CBGL is a rapidly growing force in the cannabis industry with a growing product line and intellectual property portfolio. CBGL develops and markets the hemp-based hemp you can feel brand, in addition to marketing its Comply Bag, a solution for storing, transporting and tracking cannabis.
Natural Plant Extract (NPE), a subsidiary of CBGL, is a licensed producer and distributor of cannabis-infused edibles in the Southern California market. Cannabis infusion and nanoparticle technologies have been the subject of three provisional and multiple non-provisional patents filed by CBDL. It continues to conduct research & development.
Cannabis Global released a press release this week announcing a new research initiative. In addition to other psychedelic compounds, CBGL is developing methods to include aeruginoscin and psilocybin, among others, in food and beverages. These compounds are found in some species of mushrooms.
In the program, a major goal of CNGL will be to develop new ways to incorporate psychedelic compounds as well as fungi components into products to improve both bioavailability as well as to mask the bitter tastes of the fungus and its components.
CBGL is experiencing an exciting time in relation to psychedelics with California beginning to collect signatures in order to place a legalization measure on the 2022 ballot. In the past, CBGL developed several novel methods of giving cannabinoids intravenously and translated them into patent applications. As a result, three non-provisional patents and six provisional patents have been filed.
US patent law recognizes that a provisional application at the US Patent and Trademark Office is a legal document. Despite the provision, a provisional patent filer cannot rely on this statute to become an issued patent until he files a regular non-provisional patent application within one year.
CBSL plans to establish a laboratory in a California municipality that has passed legislation allowing for such research. In order for CBGL to commence commercial activities, all efforts shall be strictly research-based with the aim of developing techniques for infusions.
What CBGL sees ahead?
Cannabis Global (CBGL) believes that the legalization of certain psychedelic substances is on the horizon within California. By leveraging the skills it has acquired regarding cannabis food/beverage infusions, CBGL aims to develop a marketable set of psychedelic technologies. In addition, CBGL believes that some of its techniques, particularly those related to polymer nanoparticles and emulsion infusions, will likely also apply to this potentially large future market.