The cannabis industry has drastically changed over the course of the last five years. Thanks to shifting consumer sentiments, legislative victories across several major states and the availability of new products for a wide demographic, the cannabis industry has become a major market attracting investors from all over the world. The more welcoming perception towards cannabis legalization can be attributed to, in large part, the passage of the 2018 Farm Bill, which legalized production of industrial hemp, transforming it into a mainstream agricultural product. Soon after, numerous categories of CBD products started to appear. While medical cannabis still dominates the broad cannabis marketplace, the growing awareness and legalization efforts are expected to further propel the overall industry forward. For example, in recent weeks, New York became the latest state to legalize recreational cannabis, and in doing so is expected to become one of the nation’s largest markets. Cannabix Technologies Inc. (OTC: BLOZF) (CSE: BLO), Curaleaf Hldgs Inc. (OTC: CURLF), Green Thumb Industries Inc. (OTC: GTBIF), Aphria Inc. (NASDAQ: APHA), Cresco Labs Inc. (OTC: CRLBF)
Slowly, more and more states are implementing legislation to regulate cannabis products. As sales of such products are becoming more prevalent, new and important regulations are expected to be implemented. Specifically, government regulators have voiced their concerns over the potential for cannabis abuse. Generally, law enforcement officers may conduct field tests such as sobriety tests or even sample tests. However, sobriety tests can be inaccurate, while sample tests may not receive results for days or even weeks. As a result, companies within the cannabis marketspace have begun to develop the necessary technology for law enforcement agencies to utilize in crackdowns on drivers operating a vehicle while under the influence of marijuana.
Cannabix Technologies Inc. (OTC: BLOZF) (CSE: BLO) just announced breaking news that, “it has received a notice of allowance from the Canadian Intellectual Property Office (CIPO) for its 2015 licensed patent application, No. 2887841 entitled, “Cannabis Drug Detection Device”. The Company has been pursuing this original patent application since its filing on April 16, 2015. It should be noted that a notice of allowance from the CIPO does not constitute a grant of patent. The Company will report on future material developments regarding its “Cannabis Drug Detection Device” patent application with CIPO in due course.
Cannabix Technologies is on the forefront in research and development to create point-of-care breath testing technologies for the detection of ∆9-tetrahydrocannabinol (“THC”) – the psychoactive component of marijuana that causes impairment.
About Cannabix Technologies Inc.
Cannabix Technologies Inc. is a developer of marijuana breathalyzer technologies for law enforcement and the workplace. Cannabix is working to develop drug-screening devices that will detect THC- the psychoactive component of marijuana that causes impairment using breath samples. Breath testing for THC would allow employers and law enforcement to identify recent marijuana use that better aligns with impairment. ”
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Curaleaf Hldgs Inc. (OTCQX: CURLF) announced earlier this month new Curaleaf branding for the Company’s recently acquired retail locations and the opening of two new locations in Horsham and Philadelphia. The new Curaleaf-branded stores mark the company’s 11th and 12th locations in Pennsylvania. As a vertically integrated cannabis operator known for quality, expertise and reliability, Curaleaf is the largest national cannabis retail brand in the U.S., and will have 104 locations across 23 states following the opening of the two new Pennsylvania dispensaries. “We are pleased to expand and strengthen our retail presence in Pennsylvania, offering our unparalleled patient care and education, as well as access to premium cannabis products,” said Joe Bayern, Curaleaf Chief Executive Officer. “We look forward to serving these communities and anticipate that demand will quickly surpass projected sales in this market, as cannabis continues to gain acceptance for a variety of health and wellness needs.”
Green Thumb Industries Inc. (OTCQB: GTBIF) announced last week the launch of Cann, a leading cannabis-infused beverage brand, in Illinois. Green Thumb and Cann previously announced a partnership to bring the beverage brand to Illinois and New Jersey with plans to expand to additional markets. Cann is now available at all Rise™ Illinois dispensary locations (excluding Mundelein), as well at Ascend, Moca and MedMen retail stores. Rise Joliet (Colorado), Rise Lake in the Hills and Rise Niles will also host a Cann pop-up store through August with an on-site Cann brand ambassador to answer questions about the newly available cannabis social tonics. “The cannabis beverage category is expanding as adults seek alcohol alternatives, and Cann delivers a superior experience,” said Green Thumb Founder and Chief Executive Officer Ben Kovler. “We see Cann as a substitute to seltzers, wine and beer for new cannabis consumers looking to reduce or replace alcohol but still want the familiar social interaction of sharing a drink with friends and family. If you don’t like hangovers, this is for you.”
Aphria Inc. (NASDAQ: APHA) reported last week the addition of Good Supply’s THC 30:0 and Solei Plus+ high potency oils to its award-winning adult-use brand portfolio, which join a range of other formats available, including whole dried flower, pre-rolls, oral sprays, soft gels, vapes and topicals. “At Aphria Inc. we understand the importance of offering consumers flexibility when it comes to consumption options, which is why expanding our portfolio to include high potency oils was a priority to the team,” said Irwin D. Simon, Chief Executive Officer at Aphria Inc. “We continue to make it our priority to provide Canadians with the highest quality cannabis and the addition to high potency oils is no exception.”
Cresco Labs Inc. (OTCQX: CRLBF) announced last week 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. “We’re focused on growing our share through an innovation strategy that capitalizes on both market dynamics and edibles portfolio white space,” said Greg Butler, Chief Commercial Officer at Cresco Labs. “Effect-forward, 5 mg gummies represent one of the largest market segments, and Wonder Wellness offerings address some of the most desirable consumer needs of relaxing, getting better sleep, and being happy. Wonder Wellness is built for the exact occasions when wellness-minded consumers are looking for products to enhance or improve their everyday experiences.”
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