As cannabis producers struggle to create meaningful relationships between brands and consumers, accessories may offer a solution, according to one executive.

Following a panel at the Lift & Co. (TSXV:LIFT) Cannabis Business Conference (LCBC) in Vancouver, the Investing News Network talked with Nick Kuzyk, chief strategy officer and senior vice president of capital markets for High Tide (CSE:HITI), about the power accessories will have in creating brand awareness for massive licensed producers (LPs).

“The accessory space has always been legal, but now it’s being embraced as an opportunity for branding and marketing purposes,” Kuzyk said.

High Tide, a retail-focused cannabis company with stores in Alberta, also has a division working on the development of cannabis accessories. In December 2018, High Tide obtained a C$10-million investment from Canadian firm Aurora Cannabis (NYSE:ACB,TSX:ACB).

Kuzyk said Aurora first approached High Tide with specific ideas on items; after the company completed those, more LPs with similar pursuits have been in contact. He added that thanks to the “increasing of the spotlight on the cannabis industry,” there is larger demand for the accessories and tools needed to consume these new products.

In Canada, heavy restrictions on promotion and branding from Health Canada have created roadblocks for LPs looking to popularize product brands following the legalization of cannabis on October 17.

Nick Pateras, vice president of strategy at Lift, told LCBC attendees that data from Lift indicates that consumers are not getting attached to brands from official producers as much as strains.

Pateras said that a recent survey shows 64 percent of consumers named a strain rather than a brand or company when asked about legal products.

Commenting on the Aurora investment, Raj Grover, president and CEO of High Tide, said it was a vote of confidence from the company’s fellow Alberta-based enterprise. Grover indicated that the proceeds will be used to fund retail acquisitions, store upgrades and further strategic acquisitions.

“The LPs have recognized our ability to produce products that are not related to the plant,” Kuzyk told INN. High Tide debuted publicly on the Canadian Securities Exchange on December 17.

According to Kuzyk, High Tide, which was launched originally in 2009, secured revenues of C$10 million in 2018 and its expected run-rate revenue will be close to C$25 million.

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

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

Editorial Disclosure: High Tide is a client of the Investing News Network. This article is not paid-for content.

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.

Achievements with Scalability and Compatibility Pave Way for Next Phase of Advancement

Codebase Ventures Inc. (“Codebase” or the “Company”) (CSE:CODE)(FSE:C5B)(OTCQB:BKLLF) is excited to announce that the Company’s holding, Arcology, a cluster-computing powered AI blockchain ecosystem with unlimited scalability, has updated its working roadmap in response to its Testnet 1.0 results

Keep reading... Show less

For the purposes of the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules, World High Life announces that the Company has 230,119,819 ordinary shares of 1p each in issue (“Ordinary Shares”), each share carrying the right to one vote. The figure of 230,119,819 should be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules

The Directors of the Company accept responsibility for the contents of this announcement.

Keep reading... Show less

TransCanna Holdings Inc. (CSE: TCAN) (FSE: TH8) (“TransCanna” or the “Company”) announces that it has granted an aggregate of 400,000 options at an exercise price of CDN$1.00, exercisable for a period of five years, to directors and officers of the Company. The stock options are being granted pursuant to the terms of the Company’s stock option plan, and are subject to regulatory approval.

About TransCanna Holdings Inc.

Keep reading... Show less

Donation will benefit veteran-focused organizations and nonprofits, including all TruVet Program partners

Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) (“Trulieve” or “the Company”), a United States -based leading medical cannabis company, announced today a donation for all TruVet Program partners year-to-date in honor of Veterans Day. A total of $15,000 representing a portion of the November proceeds from the Company’s limited-edition Freedom Pre-Roll product, will be shared among program partners, which are veteran-focused organizations andor nonprofits.

Keep reading... Show less

Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Aurora Cannibas, Inc. (“Aurora” or the “Company”) (NYSE:ACB) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Aurora securities between February 13, 2020, and September 4, 2020, inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.comacb

This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.

Keep reading... Show less