Doggy treats are starting to gain a whole different meaning now that a hemp-derived cannabidiol (CBD) producer is expanding its line of pet products.

On Tuesday (May 7), Charlotte’s Web Holdings (CSE:CWEB,OTCQX:CWBHF) announced the launch of 12 new canine-focused products for its pet lineup.


“We applied a thoughtful, scientific approach to animal health, expanding from our single oil extract offering to 12 SKUs enhanced with additional botanicals to support your dog’s mind, body and soul,” Kelsey Morrison, associate director of product development with the firm, said in a press release.

Charlotte’s Web holds an approval for its pet line from the National Animal Supplement Council (NASC) regulator. This means its products are deemed safe for animal consumption.

Hess Moallem, president and CEO of Charlotte’s Web, said that as part of adhering to the standards from NASC, every product is run through over 20 tests during the production process.

The new lineup of infused products includes chewable items, oils and a topical balm. The chewable products will be split by three different product descriptors: calming, hips and joints and cognition.

According to the firm, the balm is intended to be massaged into the animal’s skin for aid on stiff joints, tender paws or sensitive skin.

Shares of Charlotte’s Web dropped on Tuesday’s trading session by 2.76 percent for a closing price of C$25.04 per share.

Pet market potential intrigues investment

As the marijuana market has evolved to allow for more specialized plays, the interest in pet products has risen for investors.

Data from research firm Brightfield Group projects that the total CBD pet sector will be worth US$1.16 billion by 2022, according to a report from CNBC.

The same research group confirmed sales of CBD pet products in the US rose to US$32 million in 2018.

As part of its business partnership with Martha Stewart, Canopy Growth (NYSE:CGC,TSX:WEED) announced that the first line of hemp-derived CBD products from the two will be pet related.

“I’m especially looking forward to our first collaboration together, which will offer sensible products for people’s beloved pets,” Stewart said in a press release.

In March, True Leaf Medicine International (CSE:MJ,OTCQX:TRLFF) announced its pet products would gain an added distribution across 3,500 stores worldwide in addition to a partnership with retailer Pet Planet.

“As cannabis and hemp products continue to gain mainstream market momentum, our fully legal hemp-based formulas have caught the attention of pet retailers in North America and Europe,” Darcy Bomford, founder and CEO of True Leaf, said in a press release.

Don’t forget to follow us @INN_Cannabis for real-time news updates!

Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.

Canopy Growth Corporation (“Canopy Growth” or the “Company”) (TSX: WEED) (NASDAQ: CGC) will release its financial results for the third quarter fiscal 2021 ended December 31, 2020 before financial markets open on February 9, 2021.

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NYSE | TSX: ACB

Aurora Cannabis Inc. (the “Company” or “Aurora”) (NYSE: ACB) (TSX: ACB), the Canadian company defining the future of cannabinoids worldwide, announced today the closing of its previously announced bought deal public offering (the “Offering”) of units of the Company (the “Units”) for total gross proceeds of US$137,940,000 . The Company sold 13,200,000 Units at a price of US$10.45 per Unit, including 1,200,000 Units sold pursuant to the exercise in full of the underwriters’ over-allotment option.

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Aurora Cannabis Inc. (the “Company” or “Aurora”) (NYSE | TSX: ACB), the Canadian company defining the future of cannabinoids worldwide, announced today the closing of its previously announced bought deal public offering (the “Offering”) of units of the Company (the “Units”) for total gross proceeds of US$137,940,000. The Company sold 13,200,000 Units at a price of US$10.45 per Unit, including 1,200,000 Units sold pursuant to the exercise in full of the underwriters’ over-allotment option.

Each Unit is comprised of one common share of the Company (a “Common Share”) and one half of one common share purchase warrant of the Company (each full common share purchase warrant, a “Warrant”). Each Warrant is exercisable to acquire one common share of the Company (a “Warrant Share”) for a period of 36 months following the closing date of the Offering at an exercise price of US$12.60 per Warrant Share, subject to adjustment in certain events.

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AMP German Cannabis Group Inc. (” AMP “) (CSE: XCX ), ( Frankfurt : C4T ) (ISIN: CA00176G1028) and Aphria Inc.’s (” Aphria “) (TSX: APHA ) (NASDAQ: APHA) wholly-owned German subsidiary, CC Pharma GmbH (” CC Pharma “), have entered into a strategic agreement (the ” Co-Promotion Agreement “) covering joint marketing of sales for Aphria brand medical cannabis products for the German market.

The Co-Promotion Agreement is a collaboration contract between AMP and CC Pharma to sell the Aphria medical cannabis brand in Germany . In addition, AMP will organize with the support of CC Pharma, “information events” in Germany to market Aphria branded products to doctors and pharmacists.

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HempFusion Wellness Inc. ( TSX:CBD.U ) ( FWB:8OO ) (“ HempFusion ” or the “ Company ”) is pleased to announce that it has been included in two leading cannabis & hemp-derived CBD focused exchange-traded funds (“ ETFs ”), AdvisorShares Pure US Cannabis ETF ( NYSE:MSOS ) and AdvisorShares Pure Cannabis ETF ( NYSE:YOLO ).

AdvisorShares is a leading sponsor of actively managed ETFs. Pure US Cannabis ETF (MSOS) is the only US-listed ETF dedicated solely to US cannabis exposure, with over US$616,000,000 in assets under management (“ AUM ”). Pure Cannabis ETF (YOLO) was the first US-based actively managed ETF focused on the global cannabis industry. YOLO and MSOS endeavor to achieve long-term capital growth by investing in some of the largest foreign and domestic cannabis and hemp-derived CBD companies. The two AdvisorShares ETFs have a combined AUM of over US$880,000,000 as of January 22, 2021.

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