NEW YORK, May 30, 2019 /PRNewswire/ -- A 2014 United Nations World Drug report highlighted that in 2012, between 125 million and 227 million people were estimated to have used cannabis, corresponding to between 2.7% and 4.9% of the population aged 15-64 years. Flower had long been what most consumers turned to when using cannabis.
Extracts and concentrates may seem broadly similar, however, the two differ in the way they are produced. The primary difference between the two product types is the way the trichomes are collected. Trichomes are the outgrowth or appendages on a plant, but they also produce hundreds of cannabinoids, terpenes, and flavonoids, which dictate the potency and effectiveness of the strain, according to Leafly. Concentrates are primarily produced through methods of a mechanical process, using CO2 without heat or pressure, or by using water, vegetable glycerin, vegetable oils, and other solubles. On the other hand, extracts are made through hydrocarbon-based solvents, according to Gabe Sutton, Budtender at Five Zero Trees. Typically, the price for a gram of flower will cost significantly less than a gram for extracted cannabis oil, but the potencies between the two vary greatly. Traditional flower maintains THC levels between 10% to 25%, while concentrates can reach levels anywhere from 50% to 90%. The initial investment may be quite hefty as opposed to purchasing flower, but extracts are expected to last much longer. For instance, a half gram of oil can last an occasional dabber a couple of weeks, but a high tolerance user can consume it in just a day or two. Dabs are concentrated doses of cannabis that are made by extracting THC and other cannabinoids and turning them into a sticky, oily substance. The substance obtained from extracting THC and other cannabinoids creates a much healthier alternative and consumer mainly heat extracts or concentrates rather than burning them. On the other hand, burning flower via joints or through paraphernalia can cause adverse effects on the consumers' lungs. "It is healthier in the sense that you're getting a purer product that's been refined off of the plant," says Darin Carpenter, Director of Cultivation for Tryke Companies, in an interview with Mike Pizzo, Marketing Content Manager at Reef Dispensaries. "The reason that flower is not as healthy is that you are not filtering it and might be getting tar build up."
WeedMD Inc. (OTCQX: WDDMF) (TSX-V: WMD) is also listed on the TSX Venture Exchange under the ticker (TSX-V: WMD). Yesterday, the Company announced that, "it is converting its fully-licensed 26,000 sq. ft. Aylmer, Ontario facility to a large-scale cannabis extraction and processing operation.
'WeedMD is optimizing its two licensed facilities to allow each to focus on a core vertical and to streamline our operations. We are transitioning the Aylmer site to produce a wide range of extracts and concentrates,' said Keith Merker, CEO of WeedMD. 'All cultivation has been consolidated to our greenhouse and outdoor Strathroy facility, which is delivering consistently improving yields at increasingly competitive costs.'
About the Aylmer Extraction Facility
WeedMD is retrofitting its Aylmer operation into a purpose-built cannabis oil extraction facility that will be operational by summer 2019. Additional details:
*GxP encompasses a broad range of compliance-related activities such as Good Laboratory Practices, Good Clinical Practices and Good Manufacturing Practices.
As recently announced, WeedMD's Strathroy cultivation facility is expected to yield more than 150,000 kgs of dried flower per year in 2020. Outdoor grow video here (https://www.youtube.com/watch?v=QnApYAnXDtw).
For more information, access WeedMD's investor presentation here (https://www.weedmd.com/investing-in-weedmd/) and recently updated corporate video here (https://www.youtube.com/watch?v=ktgJ_BQtBCs&feature=youtu.be).
About WeedMD Inc: WeedMD Inc. is the publicly-traded parent company of WeedMD Rx Inc., a federally-licensed producer and distributor of cannabis products for both the medical and adult-use markets. The Company owns and operates two facilities: a 26,000 sq. ft. indoor facility in Aylmer, Ontario and a 158-acre state-of-the-art greenhouse and outdoor facility located in Strathroy, Ontario. The Company currently has 136,000 square feet of licensed production space across its facilities and is expected to have a total footprint of more than 550,000 square feet of indoor and greenhouse production in addition to more than 25 acres of outdoor cultivation space online in the first half of 2019. WeedMD has a multi-channeled distribution strategy that includes selling directly to medical patients, strategic relationships across the seniors' market and supply agreements with Shoppers Drug Mart as well as six provincial distribution agencies."
For our latest "Buzz on the Street" Show featuring WeedMD Inc. recent corporate news, please head over to: https://www.youtube.com/watch?v=AqV5iDMOx0c
Tilray, Inc. (NASDAQ: TLRY) is a global pioneer in the research, cultivation, production and distribution of cannabis and cannabinoids currently serving tens of thousands of patients and consumers in twelve countries spanning five continents. Tilray, Inc. recently announced the closing of a previously announced definitive agreement (the "Agreement") in which Tilray has acquired all of the issued and outstanding securities of FHF Holdings Ltd. ("Manitoba Harvest"), from Compass Group Diversified Holdings, LLC ("The Compass Group") (NYSE:CODI) and other shareholders of Manitoba Harvest (the "Transaction"). Under the terms of the Agreement, Tilray has acquired Manitoba Harvest on a cash and debt-free basis, for an aggregate maximum purchase price, including cash and class 2 Common Stock in the capital of Tilray ("Tilray Shares"), of CAD 419 Million pending the achievement of certain milestones after the closing of the Transaction. Founded in 1998, Manitoba Harvest is the world's largest hemp food manufacturer and a leader in the natural foods industry. It produces, manufactures, markets and distributes a broad-based portfolio of hemp-based consumer products, which are sold in over 16,000 stores at major retailers across the U.S. and Canada. Products in the Manitoba Harvest portfolio include: Hemp Hearts™, Hemp Oil™, Hemp Yeah! ™ granola, Hemp Yeah! ™ protein powder and Hemp Bliss™ milk. Manitoba Harvest has plans to launch a line of CBD containing Broad Spectrum Hemp Extracts as well as a line-up of Hemp Yeah! wellness bars this summer. "We're proud to officially welcome Manitoba Harvest to Tilray's growing portfolio of brands and network of experts," Brendan Kennedy, Tilray President and Chief Executive Officer. "We look forward to working collaboratively to develop and distribute a diverse portfolio of branded hemp-derived CBD food and wellness products in the U.S. and Canada."
Medipharm Labs Corporation (OTCQX: MEDIF) (TSX-V: LABS), founded in 2015, has the distinction of being the first company in Canada to become a licensed producer for cannabis oil production under the ACMPR without first receiving a cannabis cultivation license. MediPharm Labs Corp. recently announced that it had entered into a multi-year supply agreement with Cronos Group Inc. MediPharm Labs will supply Cronos Group with approximately USD 30 Million of high-quality private label cannabis concentrate over 18-months, and, subject to certain renewal and purchase options, potentially up to USD 60 Million over 24-months. In addition, Cronos Group has selected MediPharm Labs' state of the art extraction facility in Barrie, Ontario, as a preferred partner to fulfill certain of its processing needs, under a separate tolling arrangement. "With the continued evolution of the Canadian cannabis industry, we are excited to partner with Cronos Group in their journey to launch new products and secure MediPharm Labs' high-quality private label supply of concentrates," said Patrick McCutcheon, Chief Executive Officer, MediPharm Labs. "We look forward to supporting the team at Cronos Group with our specialized extraction capabilities and expertise to address a rapidly expanding cannabis market and growing consumer demand."
Neptune Wellness Solutions Inc. (NASDAQ: NEPT) (TSX: NEPT) specializes in the extraction, purification and formulation of health and wellness products. Neptune Wellness Solutions Inc. recently announced the signing of a definitive agreement to acquire substantially all of the assets of SugarLeaf Labs, LLC and Forest Remedies LLC, a registered North Carolina-based commercial hemp company providing extraction services and formulated products. Through SugarLeaf, Neptune establishes a U.S.-based hemp extract supply chain, gaining a 24,000 sq. ft. facility located in the important U.S. Southeast region. SugarLeaf's cutting-edge cold ethanol processing facility with a processing capacity of 1,500,000 kg uses hemp cultivated by licensed American growers consistent with federal and state regulations to yield high-quality full and broad-spectrum hemp extracts. The U.S. market for hemp is developing rapidly and represents a significant opportunity for the consumer products industry. "With Neptune's Canada-based operations ramping up production and the cannabis industry growing exponentially around the world due to an evolving legal global framework, now is the time to establish a state-of-the-art supply chain in the U.S. marketplace," said Jim Hamilton, President and Chief Executive Officer of Neptune. "SugarLeaf's capacity, efficient production of high-quality extracts, and strong supplier relationships, combined with our existing competencies in customer relationships and science-based formulations, creates a strong value proposition to U.S. brands who want to offer differentiated products to consumers. Neptune's objective is to be a world's leader in extraction, purification and formulation of value-added cannabis and natural health products. We warmly welcome the SugarLeaf team to Neptune."
Valens GroWorks Corp. (OTCQB: VGWCF) (CSE: VGW) is a research-driven, vertically integrated Canadian cannabis company focused on downstream secondary extraction methodology, distillation and cannabinoid isolation and purification, as well as associated quality testing with three wholly-owned subsidiaries located in and around Kelowna, BC. Valens GroWorks Corp. recently announced that it had entered into an arm's length binding multi-year extraction services agreement to provide cannabis extraction services to Tantalus Labs, a leading British-Columbia-based cannabis producer. The Agreement has an initial 2-year term from the date of the first shipment from Tantalus. Valens will process the cannabis biomass provided by Tantalus on a fee for service basis into premium quality resins and distillates using the Company's leading proprietary extraction processing methods. The Agreement contains provisions under which it may be terminated with 180 days written notice after the one-year anniversary. Valens expects to receive and begin processing the first shipment from Tantalus early in fiscal Q3 of 2019 and currently holds all required licensing from Health Canada to carry out its obligations under the Agreement. "We are honored to be recognized by Tantalus, one of the industry's most respected players currently providing exceptional flower products to both medical and recreational users here in Canada," said Tyler Robson, Chief Executive Officer of Valens GroWorks. "We look forward to working closely with the team at Tantalus as they broaden their product portfolio under the anticipated new regulations this fall."
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