The PAO Group Inc (OTCMKTS:PAOG) stock ended the previous week strongly as it rallied on Friday and clocked gains of as much as 11% following a key development. Last Friday the company provided an update with regards to the progress that it has made with regards to the launch of its CBD Nutraceuticals range of products.
It should be noted that PAO Group expects to generate revenues from this line of products in 2021 and hence, it is something that investors could keep an eye on. The company noted that it is planning to both develop and distribute its CBD Nutraceuticals products in collaboration with Alkame Holdings Inc and North American Cannabis Holdings Inc.
Alkame is going to be a copacker for the products while North American Cannabis Holdings is going to function as the distributor. The announcement was a significant one for the company and was an indication that the products are possibly not too far away from a commercial launch.
It could be a major new source of revenues for PAO Group considering the fact that back in 2020 the CBD Nutraceuticals market was worth as much as $5.3 billion. In 2027, the market projected to be worth $16.4 billion.