As 48North Cannabis (TSXV:NRTH) ramps up for October’s legalization date in Canada, the company has set its sights on the feminine side of cannabis consumption in order to hit an “undersupplied market.”
Speaking at a panel this week called RNMKR Talks: Women Trailblazers, 48North CEO Alison Gordon described her journey through the women’s health and wellness space, which eventually led her to the cannabis industry in 2013. Upon her arrival, she noticed a lack of female representation in the cannabis industry, and wanted to make a change.
“I’ve always very much felt that women were an underserved demographic in this industry, but I would only do that if I could do that authentically, so I really wasn’t interested in focusing one brand out of many on women,” Gordon told the Investing News Network (INN) after the panel.
“Women make up almost half of the current cannabis market, they’re more interested in the extracted products and brands,” she added.
48North, which became publicly listed on the TSX Venture earlier in June, and whose licensed producer, DelShen Therapeutics, recently obtained its sales license from Health Canada, has focused its entire brand around the female health and wellness market.
As it looks to develop products like food, beverages and skincare, the company is collaborating with leaders in those industries to manufacture items that give consumers the best of both worlds.
“We don’t think we need to reinvent the wheel, we think it’s really about leveraging our knowledge of cannabis, our license and our ability to work with that, and partnering with the best in class around those different categories,” Gordon said.
She explained, “I believe that cannabis will be a huge part of all aspects of the health and wellness industry, and that’s really where we want to play.” Analysts in the industry have singled out health and wellness as a new growing sector amid the overall cannabis market.
Consistency the next key step for cannabis market
Another factor the company is focusing on is not just product quality but consistency, which according to Gordon is the direction the cannabis industry needs to go in.
“When you open a box of Oreos, you know exactly what that Oreo’s going to look and taste like,” she told INN. “It’s even more important when you’re dealing with cannabis to have that level of credibility and consistency for the consumer, whether they’re a patient or just a recreational user.”
While the company is still waiting to determine what kind of cannabis infusion it can play with in terms of its products, Gordon said that with 48North being a smaller company, it has the freedom to “pivot” as regulations change and isn’t locked into being a large-scale cultivator.
“We’ll have to wait and see where the regulations go, where we’re allowed to distribute CBD products vs. THC products, and that unfortunately will dictate for the next few years as prohibition ends and the market opens up. I think our goal would very much be to use as much of the plant as makes sense to benefit women,” she said.
Canada is set to legalize adult-use cannabis smokable products on October 17. The government has indicated edibles and other infused products will take longer to permit. Industry advocates have said this slow roll out will allow the illicit market to continue thriving while legal producers stick with the law.
Since going public, 48North’s share price has dropped 22.8 percent. During Thursday’s (June 28) trading session its share price had risen 4.7 percent by 3:05 p.m. EST to reach C$0.88.
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Securities Disclosure: I, Olivia Da Silva, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
CanBud Distribution Corporation Closes 2M Second and Final Tranche of its Oversubscribed Private Placement Offering
CanBud Distribution Corporation (CSE: CBDX) (FSE: CD0) (“CanBud” or the “Corporation”) is pleased to announce that it has closed the final tranche of its oversubscribed non-brokered private placement for aggregate gross proceeds of approximately $4,730,000 (the “Offering”).
The Corporation issued a combined total of 39,409,346 units (each a “Unit“) at price of $0.12 per Unit, with each Unit comprised of one common share in the capital of the Corporation (each a “Common Share“) and one common share purchase warrant (each a “Warrant“). Each Warrant entitles the holder to purchase one additional Common Share at an exercise price of $0.22 within 24 months of the closing of the Offering (the “Warrant Term“), provided, however that if the closing price of the Common Shares on the Canadian Securities Exchange (the “CSE“) (or any such other stock exchange in Canada as the Common Shares may trade at the applicable time) is $0.25 or greater per Common Share for a period of five (5) consecutive trading days at any time after the closing date of the Offering, the Corporation may accelerate the Warrant Term such that the Warrants shall expire on the date which is 30 days following the date a press release is issued by the Corporation announcing the reduced warrant terms.
Thoughtful Brands Inc. (CSE:TBI)(FSE:1WZ1)(OTCQB:PEMTF) (the “Company” or “Thoughtful Brands) announces that the letter of intent with Franchise Cannabis Corp. (“FCC”), previously announced in January, has been terminated. The previously announced European joint venture with FCC will continue and allow the Company to launch and tailor its products to European consumer demands
In connection with termination of the merger transaction with FCC, the Company has agreed to pay FCC $100,000 in cash and to issue FCC 5,000,000 common shares of the Company at a deemed value of $0.05 per share. The common shares will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities laws.
Mergers and acquisitions (M&A) in cannabis space have helped boost the industry to new levels.
Strategic sale of non-core assets by Lobe adds non-dilutive capital and shareholder value
Lobe Sciences Ltd. (CSE: LOBE) (OTC Pink: GTSIF) (“Lobe” or the “Company”) is pleased to announce, further to its press release dated February 23, 2021, that it has completed the sale to Ionic Brands Corp. (“Ionic Brands”) of Lobe’s non-core cannabis assets relating to Washington-based Cowlitz County Cannabis Cultivation Inc. (“Cowlitz”) held by Lobe’s subsidiary vendor, Green Star Biosciences Inc. (the “Transaction”).
Seattle Area Grocery Chain Metropolitan Market to Begin Carrying KOIOS and Fit Soda on March 22, 2021
Adding to its existing presence on the west coast of the United States, all five KOIOS™ flavours and all four Fit Soda™ flavours will be carried in Metropolitan Market stores beginning on Monday, March 22, 2021. Serving the Seattle-Tacoma area (population 3.87 million), Metropolitan Market is one of five chains under its parent firm Good Food Holdings, which has a total of 51 stores in California, Oregon, and Washington State.
Koios Beverage Corp. (CSE: KBEV; OTC: KBEVF) (the “Company” or “Koios”) is pleased to announce that beginning on Monday, March 22, 2021, Koios’ entire line of canned beverage products will be sold at all locations of Metropolitan Market, an urban format supermarket chain in the Seattle-Tacoma area of Washington State. In Q1 2021, the Company announced multiple placements of its beverage products with regional grocers in markets on the west coast of the United States including Market of Choice in Oregon Jensen’s in Southern California and major natural grocery chain Sprouts Farmers Market which has a substantial west coast presence with over one third of its locations (360+ stores across 23 states) in California as well as Washington State 1 . The Company has also recently announced other developments relating to its expansion efforts being undertaken in 2021 such as an in-house beverage canning facility and distribution agreements with regional and national wholesale partners.