Algae Dynamics Corp. (OTCQB: ADYNF) could be among the chief beneficiaries of a recent survey that found that 42% of respondents chose cannabidiol (CBD), derived from hemp or marijuana, and dropped traditional medicines (http://nnw.fm/6Qu2c). In addition, an “Understanding Cannabidiol” survey of some 2,400 members of HelloMD, an online CBD community, and market research firm Brightfield Group jointly found that, by an overwhelming majority, respondents favored CBD made from cannabis rather than industrial hemp (http://nnw.fm/s2m3Q).
CBD is being used instead of traditional medicines to treat anxiety (67%), insomnia (60%), joint pain and inflammation (52%) and depression (43%). A total of 61% of survey-takers said that they spend more than $50 monthly on CBD products, while more than half of respondents said they use oil cartridges and vaping. Notably, more than half (58%) of those surveyed are women.
The study found that 42% of respondents use cannabis rather than traditional medications for depression, anxiety, joint pain and anxiety, and some 80% said they find CBD products to be very or extremely effective treatments. Some 90% said they would be likely to buy marijuana-based CBD-only products.
Also, 53% of CBD users purchase CBD products from storefront dispensaries, 31% through local delivery services, and 17% online. Not only do 29% of this group find that CBD products provide the best medical relief, but, in the study’s words “about 66% of CBD users indicated that CBD products are either more effective or much more effective in relieving their medical conditions than are over-the counter (OTC) products.”
Algae Dynamics, headquartered and doing business in Ontario, Canada, is a development stage company which is publicly traded in the U.S. It maintains university collaborations to develop specific cannabis oil product lines, with the University of Waterloo and the University of Western Ontario. It specializes in cannabis oil extraction and hemp oils.
ADYNF is working with the University of Western Ontario to explore the impact of cannabis oil, its constituents and other botanical extracts that lead to development of unique products for the treatment of mental health issues, such as post-traumatic stress disorder, anxiety, depression, and schizophrenia.
With the University of Waterloo, ADYNF is performing fundamental research on cannabis oil leading to the treatment of cancers of the pancreas, breast, prostate and colorectum. ADYNF is seeking to combine the benefits of algae and cannabis oils and their role in the cancer-related potential treatment by botanical oils, specifically focusing on cannabis.
For more information, visit the company’s website at www.AlgaeDynamics.com
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