NEW YORK, Aug. 12, 2019 /PRNewswire/ -- As the cannabis industry continues to evolve, researchers are constantly uncovering new aspects of the plants. For instance, a study by the University of Colorado suggested that cannabis can be used to increase the survivability of a heart attack. The study
Medical cannabis is already prevalent in many regions across the world such as parts of the U.S., Australia, Canada, France, Germany, Thailand, and South Korea. However, due to the lack of research and the plant's potential for abuse, government regulators have explicitly outlined the requirements patients must meet in order to be eligible for medical use. Germany's parliament allows patients to use medical cannabis for multiple sclerosis and chronic pain, but it heavily depends on the severity of their condition. On the other hand, South Korea only allows the use of medical cannabis for epilepsy, symptoms of HIV/AIDS, and cancer-related treatments. While Germany and South Korea recently adopted medical cannabis, the U.S. and Canada have had medical cannabis use for quite some time. The U.S. began adopting medical cannabis back in the 1990s when California became the first state to legalize medical use. Canada legalized medical cannabis use back in 2001, but only allowed it for two uses. Since then, both markets have drastically changed and additionally, both have implemented a recreational market. Largely, the U.S. and Canada dominate cannabis market because of their early adoption. However, the major challenge for companies is keeping up with trends. For instance, when legalization first began, dried cannabis flower was widely popular. Now ,however, oils are in high demand. Moreover, consumer preferences have changed and consumers are beginning to demand more premium and higher quality products. Specifically, in the U.S. and Canada, "craft cannabis" has become an emerging product that is quickly gaining popularity. Cultivators engaging in craft cannabis carefully nurture each individual plant to ensure its high quality and potency. Notably, craft cultivators also grow their cannabis organically, meaning they avoid the use of artificial products that may damage the strain and cannabinoid content. Overall, the meticulous care and distinct growing techniques create an eccentric strain that stands out from traditional products. "More and more consumers desire a tangible connection with the cannabis flower and care about small farm values such as sustainability, craftsmanship, organic principles and hands-on cultivation techniques," said Rose Mattio, Founder of Rosie Mattio Public Relations.
Pasha Brands Ltd. (OTC: CRFTF) (CSE: CRFT) is also listed on the Canadian Securities Exchange under the ticker (CSE: CRFT). Earlier today the company announced breaking cannabis news that, "North America's largest craft cannabis brand house, is pleased to announce that its wholly owned subsidiary, BC Craft Supply Co. Ltd ("BC Craft"), has signed a supply agreement with Canada's first licensed micro processor, North 40 Cannabis ("North 40").
Founded by Gord Nichol in Nipawin, Saskatchewan, North 40 Cannabis received its micro-cultivation and micro-processing licences from Health Canada on July 26, 2019. Under the agreement with Pasha, North 40 will supply BC Craft with North 40's annual production, to be sold as dried flower and other cannabis products in Canada.
"I'm absolutely thrilled to have signed an agreement with a company like Pasha," said Gord Nichol, founder of North 40 Cannabis. "They have shown micro cultivators like me that they are dedicated to ensuring craft producers in Canada will flourish under legalization. I'm excited to move ahead and looking forward to our first harvest this year." North 40 Cannabis will plant its first legal crop in August 2019 and harvest later in the fall.
With Canada's current licensed cannabis producers only able to supply an estimated 15 per cent of what Canadians are consuming, Pasha is optimistic that, in addition to its previously established supply agreement with Hearst Organic, this new supply agreement with a licensed micro cultivator and micro processor will help correct the cannabis supply imbalance and bring exciting new products to market. Each micro cultivator in Canada will be able to produce approximately 500 kilograms of cannabis per year, while each micro processor can process up to 600 kilograms of cannabis per year. Canada has tens of thousands of craft producers operating in the illicit cannabis market and Pasha's wholly-owned subsidiary BC Craft Supply Co. is focused on helping as many small farmers transition into the regulated market as possible.
"Signing this agreement with Canada's first micro processor is very significant as it affirms BC Craft's business model with not only the micro-cultivation market but also now with processors," said Jason Longden, CEO of Pasha Brands in reaction to the news. "North 40 has established a state-of-the-art cultivation and processing facility and we are proud to work with such an innovative team. This is simply the next step in fulfilling our goal of becoming the biggest producer of craft cannabis products in Canada and I'm confident North 40 will help us bring Canadians more of the cannabis that they're looking for.
About Pasha Brands: Based in Vancouver, British Columbia, Pasha is a vertically integrated, prohibition-era brand house firmly rooted in BC's craft cannabis industry, which boasts an international reputation. With proven capabilities in cannabis cultivation, genetic research and development, product processing, and retail, Pasha is uniquely positioned in the new legal cannabis market through its network of hundreds of craft cannabis suppliers under the Pasha umbrella. Pasha subsidiary, Medcann Health Products Ltd., is a Health Canada licensed cultivator and processor with a license to sell medical cannabis products in Canada. Pasha and BC Craft are also developing a craft cannabis campus, which is dedicated to bringing craft quality into the newly legal cannabis market in Canada. BC Craft is driven to assist craft growers in obtaining security clearance and licensing to grow as micro-cultivators, specializing in education and compliance to bring growers into the regulated cannabis supply market. Pasha's common shares trade on the CSE under the symbol "CRFT" and on the FSE under the symbol "ZZD". For more information, please visit www.pashabrands.com."
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Sundial Growers Inc. (NASDAQ: SNDL) proudly crafts pioneering cannabis brands to Heal, Help and PlayTM. As part of its Canadian growth strategy, Sundial Growers Inc. recently shipped its first batch of crafted cannabis to the Ontario Cannabis Store (OCS). The Sundial brand offers five product lines named Calm, Ease, Flow, Lift and Spark. Each is focused on meeting specific needs with tailored product offerings that provide premium functional and spiritual experiences to consumers. "We are thrilled to be partnering with the OCS and the quality retailers that are establishing operations in Ontario," said Andrew Stordeur, President of Sundial's Canadian operations. "With 40% of the nation's population located in the province, we are excited to have the opportunity to satisfy Ontario consumer demand for high-quality cannabis with our portfolio of premium cannabis products."
OrganiGram Holdings Inc. (NASDAQ: OGI) (TSX-V: OGI) is a NASDAQ Global Select and TSX Venture Exchange listed company whose wholly owned subsidiary, Organigram Inc., is a licensed producer of cannabis and cannabis-derived products in Canada. Organigram Holdings Inc., the parent company of Organigram Inc., recently announced that it had entered into an advance payment and purchase agreement with 703454 N.B. Inc. under which the Company will pre-fund hemp purchases to receive access to as much as 60,000 kilograms of dried hemp flower to be harvested in calendar 2019 for extraction into cannabidiol ("CBD") isolate. "Access to a large, consistent volume of CBD-producing hemp has become increasingly important as Canadians express their demand for CBD-rich products for use in both recreational and medical capacities," said Greg Engel, Chief Executive Officer, Organigram. "We've heard the call for CBD in the market and this agreement positions Organigram to meet that 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 completed the acquisition of the assets of SugarLeaf Labs, LLC and Forest Remedies LLC. The acquisition was first announced on May 9, 2019. "The acquisition of SugarLeaf, combined with Neptune allows us to create a leading North American extraction platform with significant capacity available to serve our customers on both sides of the border. Furthermore, considering the significant growth anticipated in hemp-based products, this acquisition provides Neptune with capabilities to satisfy a wide array of clients. Finally, we anticipate a significant contribution from this acquisition, as indicated by the large earnout structure providing adequate risk sharing," said Michael Cammarata, Neptune President and Chief Executive Officer.
Harvest Health & Recreation, Inc. (OTCQX: HRVSF) (CSE: HARV), headquartered in Tempe, Arizona, is a multi-state cannabis operator (MSO) and vertically-integrated cannabis company. Harvest Health & Recreation, Inc. recently announced the opening of its sixth Florida medical marijuana dispensary. Harvest holds licenses in Florida for up to 35 medical dispensaries, one cultivation facility, one manufacturing facility, and has operational dispensaries in the Orlando and Tallahassee markets. Nationwide, pending finalization of recent acquisitions, Harvest will have rights to more than 210 facilities, approximately 135 of which being retail locations, in 18 states and territories across the country. "We're thrilled to be bringing our high-quality cannabis products to patients in Gainesville as we continue to expand our footprint in Florida, the third most populous state in the country," said Executive Chairman, Jason Vedadi. "We're looking forward to opening many more of our award-winning dispensaries in order to bring premium cannabis experiences to all Floridians."
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