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.
“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.
“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.
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Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.
Company is strategically building a diverse edibles portfolio with taste-forward and effects-driven products to cater to market and consumer needs
Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco Labs” or “the Company”), a vertically integrated multistate operator and the number one U.S. wholesaler of branded cannabis products, today announced the launch of Wonder Wellness (“Wonder”) Gummies and availability in Illinois. The new low-dose edibles are enhanced with botanicals to complement the overall cannabis experience, and their simple packaging communicates desired effects so wellness-minded category newcomers can consume with confidence to add cannabis as a part of their daily lifestyles.
Reports Eighth Consecutive Quarter of Positive Adjusted EBITDA and Positive Adjusted EBITDA from Cannabis Business
Aphria Inc. (” Aphria ,” ” we ,” or the ” Company “) (TSX: APHA) (NASDAQ: APHA), a leading global cannabis-lifestyle consumer packaged goods company inspiring and empowering the worldwide community to live their very best life, today reported its financial results for the third quarter and nine months ended February 28, 2021 . All amounts are expressed in Canadian dollars, unless otherwise noted and except for per gram, kilogram, kilogram equivalents, and per share amounts.
Thoughtful Brands, Inc. (CSE:TBI)(FWB:1WZ1)(OTCQB:PEMTF) (the “Company” or “Thoughtful Brands“), an eCommerce technology company that researches, develops, markets, and distributes natural health products through various brands in North America and Europe, announces that it intends to consolidate its issued and outstanding common shares (“Shares”) at a ratio of ten (10) pre-consolidated Shares to one (1) post-consolidation Share (the “Consolidation
The Company currently has 389,274,701 Shares issued and outstanding. Following the Consolidation there will be approximately 38,927,470 Shares issued and outstanding. No fractional Shares will be issued and any fractions of a Share will be rounded down to the nearest whole number of Shares. The exercise or conversion price and the number of Shares issuable under any of the Company’s outstanding convertible securities will be proportionately adjusted upon Consolidation.
In the evolving rush of mergers and acquisitions (M&A) in the Canadian cannabis market, Canopy Growth (NASDAQ:CGC,TSX:WEED) announced it will acquire The Supreme Cannabis Company (TSX:FIRE,OTCQX:SPRWF) in a deal worth approximately C$435 million.
Meanwhile, a cannabis operator in the US confirmed this week that it will receive a financial boost from a partner to solidify its position in the burgeoning Pennsylvania state market.
The Board of Directors of Aphria Unanimously Recommends Shareholders Vote “For” the Arrangement
Aphria to Host Special Meeting of Shareholders on Wednesday, April 14, 2021 to Approve Proposed Aphria-Tilray Business Combination