Tabitha Clay, Author at Green Market Report

Tabitha ClayTabitha ClayApril 27, 2018
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7min11280

In an effort to stay ahead of regulators and encourage ethical advertising practices in the industry, the National Association of Cannabis Businesses (NACB), the only self-regulatory organization for the U.S. licensed cannabis businesses, published advertising guidelines for industry players. The NACB Advertising National Standard was published Wednesday, April 25, 2018; the organization is accepting comments from members and the public until May 25, 2018. Comments will be reviewed and considered, and it’s possible that the standard will change as a result of public comment.

“Advertising was among the first areas our members identified as critical to addressing for NACB National Standards because it’s through marketing that the industry presents itself to the world,” said Andrew Kline, President of the NACB and a former federal prosecutor. “We are extremely proud that our members took their responsibility to protect consumers so seriously, going even deeper in prohibiting certain content than regulators might expect them to.

According to NACB, the standard is “designed to help NACB members protect consumers and demonstrate to regulators, financial institutions, and the public that NACB members operate at the highest levels of ethics and responsibility.”

Taylor West, Senior Communications Director at Cohnnabis, a division of Cohn Marketing and former Deputy Director at the National Cannabis Industry Association applauded the efforts of NACB, but did express some concerns.

“Any time you’re trying to create standards for an industry it’s difficult,” said West. “I also think that it’s very smart as an industry to adopt some of these voluntary standards; recognizing that there’s going to be a time when governmental mandates are going to come in and if the industry has already agreed to responsible restrictions then they’re going to be in a better position. So I applaud them for that.”

The restrictions set forth in the standard are indeed stringent, with some key parts of the standard that restrict advertising audiences significantly more than the standards in the similar alcohol industry. Alcohol industry standards restrict advertising to mediums where at least 71.6 percent of the audience is reasonably expected to be of legal purchase age. Alternatively, the new standard from NACB limits cannabis advertisers to markets where at least 85 percent of the audience is reasonably expected to be at least age 21.

When asked about the audience limitations in the new standards, West expressed some surprise and concern as well. “These are definitely more limiting than I think some people would have expected,” said West. “Especially when you compare them, you know, like you said, to the alcohol industry, and also frankly to the restrictions that some local governments have already put in place.”

The standards also ban the consumption of cannabis from advertising, something that might place significant burdens on cannabis companies as they launch media campaigns. According to West, “The restriction on preventing advertisements from depicting the consumption of cannabis, seems a little extreme as well.”  

That’s not to say that West isn’t fully in support of the industry self-regulating to prevent advertising to children and teens, she just sees the complete ban on consumption in advertising as a solution to a problem that might not actually exist yet. “I think it’s important to adopt responsible practices,” explained West, “but I also think it’s important for the industry to be able to work in a way that doesn’t unreasonably restrict them when there’s not an indication that there’s a particular problem.”

NACB is clearly working very diligently to prevent underage cannabis use, and to ensure that marketing within the industry isn’t aimed at kids. Other key portions of the standards include eliminating any offers of gifts or prizes to incentivize purchase as well as restricting the use of toys, cartoon characters, animals or celebrity endorsements in advertising.

“The work we are doing as members of the NACB in creating sensible national standards for our industry will set the stage for the future of the legal cannabis industry in this country,” said CEO Patricia Noonan of NACB member and Colorado-based Wonderleaf. “The Advertising National Standard will one day serve as the definitive set of rules for the marketing of cannabis and  proud we took such care in making it comprehensive to best serve the public good.”

Whether or not the standards will remain as originally published or will be subject to change will depend in large part on industry feedback. According to NACB, after the feedback is considered, the standard may be revised after which time members will vote on the new standard.

 


Tabitha ClayTabitha ClayApril 20, 2018
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5min28311

As April 20th nears, stoners everywhere are preparing for a day of celebration, especially those in states where marijuana legalization is already a reality. With all the focus on getting high, there’s another way to celebrate the holiday, by getting well. CBD health and wellness products are legal across the country, and they are growing in popularity. These new products are the perfect way for everyone to celebrate, regardless of their state’s recreational marijuana laws.

The Daily Hit Brownie

Vegan hotspot by CHLOE.  is teaming up with the all-natural health wellness company CAP Beauty to celebrate 420 with their first CBD-based treat. The Daily Hit Brownie contains The Daily Hit, an ingestible CBD Adaptogenic Oil, that’s completely legal and even TSA approved. The sweet treat will be exclusively available at Sweets by CHLOE. at 185 Bleecker St. Suite B, in New York and but the window of opportunity is small. The Daily Hit Brownie will only be available Friday, April 20 through Sunday, April 22, 2018.

“We are so excited to be partnering with CAP Beauty to bring our guests something unlike anything we have done before with The Daily Hit Brownie,” says Samantha Wasser, by CHLOE. Co-Founder. “Our new vegan brownie contains a serving of CBD oil and is a delicious way for guests to try our favorite adaptogen from a brand we admire and love, packed with benefits for your body and mind.”

 

CBD Wellness Box

Lucky Box Club, the premium CBD subscription service offers a way to enjoy the holiday from the comfort of your own home with its CBD Wellness box. Featured in the Official GRAMMYs® gift bag, Lucky Box Club’s CBD Wellness Box is packed with popular CBD products like Kush Queen bath bombs, Medicine Box chocolates, and Papa & Barkley Releaf patches.  Lucky Box Club promises a “dose of effective healing and relief,” with their box of hand-selected CBD wellness products.

Pure CBD Roll-On Rubs

CBD For Life will be launching a new product very soon to honor 4/20, Pure CBD Roll-On Rubs. The oils are designed to relieve body aches and pains through the anti-inflammatory properties of CBD. The rubs are certified vegan and combine coconut oil, cajuput oil, jojoba oil, cassia oils and other natural oils for rapid relief of aches and pains.  

CBD For Life produces natural Cannabidiol (CBD) pain management and beauty products using CBD extract derived from stems and stalks of industrial hemp. They combine those extracts with other nourishing essential oils and active ingredients to relieve pain, inflammation, and stress while promoting rejuvenation and vibrancy.

 

Wellness Blend CoffVee

Coffee drinkers can get in on the CBD craze this week when they try Vera Roasting Company’s new Wellness Blend CoffVee™ which is infused with CBD for wellness. Each 12 oz bag contains 120 mg of CBD, 0% THC and boasts 100% organic beans grown in the shade on small Colombian farms. The roasted beans are infused with CBD and resveratrol, the antioxidant found in red wine.  The new CBD infused CoffVee™ started shipping April 12, 2018.

 


Tabitha ClayTabitha ClayApril 18, 2018
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5min21180

Quim Rock is a “self-care line for humans with vaginas and humans without vaginas who love vaginas.” The company, co-founded by Cyo Ray Nystrom and Rachel Washtien presented this year at CNvest and has been turning heads in the cannabis industry with their unique approach and product.  

“CNvest was an amazing opportunity for us,” said Nystrom, “It allowed us to pitch to a room pretty much entirely of private investors and we had some really exciting conversations.”

Quim Rock’s Intimate Oil is infused with THC and is designed to intensify climax, enhance sensation, increase libido, and promote overall vaginal health. Nystrom started making her own vaginal health products six years ago and started including cannabis into the equation three years ago.

Cannabis Content & Media Photographer Jennifer Skog

“Really it was just a side project,” said Nystrom, “My own product for my own needs and for my friends until I started working with my co-founder Rachel [Washtien], who is head of operations and really is the one who had the longevity, and the hunger, and the aptitude, and detail-orientedness to really incorporate the business.”

Quim Rock was incorporated in October 2016 and launched its first product, Quim Rock Intimate Oil, in April 2017. The recommended usage amount contains 8-10 mg of THC, which can help ease intercourse-related pain and heighten pleasurable sensations while promoting overall vaginal health. The company focuses on vaginal health and wellness and works to promote open conversations about the quim. Already in multiple retail locations in California, Quim Rock is currently building out a new manufacturing facility and has even more products in the pipeline.

“We’ll be launching a latex-safe cannabis-infused lubricant, which is probably the biggest limitation of our current product [which is oil based]. We’re also going to launch what I call eye cream for your vagina, for your quim if you will,” said Nystrom, “and that will be our actual first THC-free product.”  

Having a THC-free product means that Quim Rock will be able to expand beyond California into other markets. Because the cannabis industry is regulated at the state level, reaching other markets with their THC infused Intimate Oil presents a lot of unique challenges.

There are a lot of uphill battles for a vaginal health and wellness company, even in the cannabis industry which is known for its proportionally high number of women executives. Quim Rock is still seeking funding, and that means meeting with investors that may not have personally experienced the problems that Quim Rock is addressing.

“I’m talking about vaginal health issues and a lot of the people that I’m talking to, they don’t have vaginas, they don’t know what it’s felt like to have a recurring yeast infection, or go in a cycle of UTI yeast infection for years and years and years on end, because these things are so coated with shame,” explained Nystrom. “We want to create products that solve these problems, solve these issues, but the real goal is that in doing so we remove the shame around such a vital part of our bodies.”

 


Tabitha ClayTabitha ClayApril 11, 2018
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3min19770

New York-based Altitude Investment Management, LLC, announced a major funding milestone today raising $18.7 million in capital from more than 50 investors for its fund Altitude Investment Partners, which invests in a range of early-stage to growth companies in the emerging legal cannabis industry. This is a major step toward the $50 million target the firm has set for the next 11 months.  

Principals at Altitude have invested more than $4 billion in the alternative investment space, and have been investing in legal cannabis for the last two years.  Led by John Brecker, Jon Trauben, Michael Goldberg, and Roderick Stephan, Altitude has already proven to be a major player in the cannabis industry.

“According to research published by Ameri Research Inc., the global legal cannabis market was valued at $14.3 billion in 2016. The market is forecast to grow at a CAGR of 21.1% between 2017 and 2024 while reaching a value of $63.5 billion in global sales in 2024,” said John Brecker. “There is a huge existing customer base for medical and adult usage, yet decades of federal prohibition have kept dominant companies and institutional capital from owning this industry. This lack of institutional capital being invested in the cannabis industry creates a tremendous opportunity for our investors. Additionally, the operators of successful companies are now migrating toward working within the cannabis industry creating an unparalleled opportunity for investors.”

The fund’s current investment portfolio includes 11 cannabis companies including BDS Analytics, Eyechronic, Flowhub, Front Range Bioscience, Green Flower Media, Privateer, The Green Organic Dutchman, Würk, and Canndescent, which recently closed a $10M series B offering. The $18.7 million announced today will be used to continue to invest in the global cannabis industry.

“We are delighted to announce this initial capital raise as we continue to invest in this exciting and opportunistic industry,” said Jon Trauben. “Over the past two years, the partners of Altitude have invested in a diverse set of companies that span the breadth of the cannabis industry. We have a unique portfolio strategy that focuses on companies with strong management teams and scalable systems that meet the highest regulatory and compliance standards that will be foundational to the industry. These companies are building recognized and leading products, brands and services that have strong customer loyalty, sticky customer relationships, niche industry expertise, and tailored solutions for a highly regulated industry.”



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The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


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