This week, even more developments point to cannabis inevitably going global. The more the cannabis industry expands and develops the more legitimate Canada’s cannabis industry will become in the rest of the world’s gaze (and deservedly so). This past week, WeedMD entered the cannabis drink business, Organigram gets its phase 2 expansion approved, and more!
Weekly Roundup 03/04/2018 – 03/10/2018
WeedMD Enters the Pot Induced Drink Business
This week, WeedMD has signed a letter of intent to enter into a joint venture with Phivida Holdings. Phivida is a brand of prime CBD infused drinks and clinical health products. WeedMD has entered into this partnership to seize the opportunity to dominate the functional beverage market category in Canada. The joint venture will focus on producing, manufacturing, marketing, and distributing cannabis-infused drinks and will be called Cannabis Beverages Inc. or CanBev for short.
CanBev will produce in one of the first ever cannabis-infused beverage production facilities in all of Canada. The joint venture’s cannabis supply will come solely from WeedMD. It is safe to say that CanBev will be fully equipped due to WeedMD’s infrastructure. As CanBev’s supplier and distributor, WeedMD will allocate and develop space in it’s Ontario facility specifically for CanBevs’ production and operations.
WeedMD has made it clear that they will continue to focus on innovation and use their solid foundation to reach higher, build new brands, and extend their product line. The beverages will be targeted to the medicinal cannabis market as well as the future adult-use market.
Patients, specifically senior patients, have an interest in incorporating cannabis-infused drinks, due to their inherent practicality, into their medical marijuana treatment plans. Phivida will sublicense their technology in encapsulation to advance solubility to CanBev. Phivida will also focus on the creation of new consumer brands for the upcoming adult-use market.
Tetra Takes Baby-step Into European Medical Cannabis Market
PS Innovations, Tetra Bio Pharma’s partner, is looking for CE marking for it’s Rx Princeps™ Inhalation Device. CE marking assures that a product has followed all European regulations. CE marking is necessary for Tetra’s ability to distribute their products in the European markets.
The fact that PS Innovations is seeking CE marking for the Rx Princeps™ Inhalation Device is great for Tetra’s marketing in Europe. With the CE marking, the Rx Princeps™ Inhalation Device will be considered a Class 1 Medical Device under all local regulations. This is a huge step for Tetra Bio Pharma as medicinal cannabis is, in fact, legal in several European countries. PS innovations have made it clear that they are determined to meet all the standards of the European Medical Device Directive in order to go through proper registration and assure CE marking.
Canadian Cannabis Companies React to Cronos Group Listing on the Nasdaq
This week, after having joined the Nasdaq just last week, Cronos Group’s share price increased by 37%. After Cronos Group’s exciting development (being the first Canadian cannabis company to ever be listed on the Nasdaq), the company’s competitors are also eyeing a potential listing on the Nasdaq. It has been evident this week that both Canopy Growth and Aurora, presumably among others, are eager to have a Nasdaq listing. Both companies claim that their plans to get on the Nasdaq are already in progress.
Beacon Security analyst Vahan Ajamian stated that since Canopy’s partnership with Constellation Brands is now fully underway they will now have time to dedicate towards listing on the Nasdaq as their main focus. Aurora Cannabis has also made it extremely clear that they have full intentions of listing on either the Nasdaq, AIM, New York Stock Exchange, or a division of the London Stock Exchange. “Cronos broke that barrier, and good on ’em, it’s excellent for everybody,” The CEO of Aurora, Terry Booth, applauds Cronos Group’s achievement and its massive developmental impact for the cannabis industry at large. The CEO of Supreme Cannabis, John Fowler, seemingly agrees with Aurora’s CEO Terry Booth in seeing Cronos Group’s success as a positive development for all Canadian cannabis companies.
Organigram Receives Health Canada Approval
Not only was Organigram, a premier licensed medical cannabis producer based in New Brunswick, successful in receiving Health Canada’s approval but they got it an entire week before schedule. Organigram received its approval from Health Canada for the 13 rooms that were still unapproved from its 23 room Phase 2 expansion. Organigram foresee’s the expansion’s first harvest to commence by the end of April. The Phase 2 rooms will have fully automated waste destruction and irrigation systems as well as automated potting and packaging lines. The expansion enhances the efficiency of Organigram’s cultivation and decreases costs.
With developments economically, technically, and globally the cannabis industry is sizzling with innovation and there is always much to tell. Thanks for keeping up. See you next week.