Extraction Archives - Green Market Report

StaffOctober 19, 2021
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Greenlane Holdings, Inc., (Nasdaq: GNLN) is buying vape companyDaVinci for an undisclosed amount. The deal is expected to close in the fourth quarter of 2021.

“DaVinci leads the way in innovative portable vaporizers and we are thrilled to bring them into our owned brand portfolio,” said Nick Kovacevich, CEO of Greenlane. “This acquisition perfectly illustrates our mission of elevating all elements of the consumption experience, and we look forward to building on our recent success of acquiring strategic and accretive brands. As we continue to execute on our robust pipeline of acquisition targets, we aim to ensure our customers have a best-in-class product selection, while driving profitability and shareholder value by increasing our higher-margin owned brand offerings. The team at DaVinci shares our commitment to providing curated, convenient experiences to consumers, and we look forward to welcoming them to Greenlane and to working together to bring more innovative products to our customers.”

DaVinci is an industry leading brand differentiated through its groundbreaking Clean First™ innovation, which employs medical grade materials and total quality manufacturing processes to ensure the cleanest technology goes into the development of its products. DaVinci’s product line has grown significantly since the launch of its award-winning IQ vaporizer in 2016 to include new innovative models such as the MIQRO, the world’s smallest premium loose-leaf vaporizer, IQ2, the world’s first on-device dosage control, and the IQC, equipped with a patented ShareSafe™ mouthpiece created from an FDA-approved antimicrobial polymer.

 

“At DaVinci we have been committed to approaching product development with vision and imagination, and we are thrilled to join Greenlane as strong partners in innovation. We are excited to join a team that shares our drive to harness new and changing technologies to engineer consumer experiences that align with the evolving needs of a dynamic, growing cannabis industry,” said Cortney Smith, Founder and CEO of DaVinci.

DaVinci is an industry-leading brand differentiated through its groundbreaking Clean First innovation, which employs medical-grade materials and total quality manufacturing processes to ensure the cleanest technology goes into the development of its products. DaVinci’s offerings include many award-winning vaporizers.


StaffOctober 11, 2021
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In a big “oops we goofed,”  the Food and Drug Administration (FDA)  took back its September 14 Marketing Denial Order for some of Turning Point Brands, Inc.  (NYSE: TPB) vape products. Turning Point said all of its proprietary vape products, including its Solace branded e-liquids, will continue to be marketed while they remain under review. They are currently under a pending Premarket Tobacco Product Applications (“PMTAs”) review.

Turning Point said that in its rescission letter the FDA stated, “Upon further review of the administrative record, FDA found relevant information that was not adequately assessed. Specifically, your applications did contain randomized controlled trials comparing tobacco-flavored ENDS to flavored ENDS as well as several cross-sectional surveys evaluating patterns of use, likelihood of use, and perceptions in current smokers, current ENDS users, former tobacco users, and never users, which require further review.” The letter further clarified that “at present, in light of the unusual circumstances, FDA has no intention of initiating an enforcement action against” the products.

“We are encouraged by the FDA’s decision to reconsider our product applications and look forward to engaging the agency as our PMTAs are reviewed,” said Larry Wexler, President and CEO, Turning Point Brands. “It is important that the PMTA process is transparent, purposeful, and evidence-based. Our organization dedicated significant time and resources in filing our applications in accordance with agency guidance. We remain hopeful that the depth and range of our studies and data will persuade the FDA that the continued marketing of our vapor products is appropriate for the protection of the public health and that the agency will ultimately preserve a diverse vapor market for the more than 30 million American adult smokers who may wish to transition from combustible cigarettes to lower risk alternatives.”

Turning Point had been selling vape products under the label Solace with flavors like Peach, Mango, and Marshmallow Crispy. These sugary flavors have been very popular with underage consumers and were a big selling point for the competitor Juul. Solace noted on its website that Federal law required e-liquid companies to submit a Premarket Tobacco Product Application (PMTA) to the U.S. Food and Drug Administration (FDA) in order to continue selling products in the United States. These applications require that e-liquid companies demonstrate that products are “appropriate for the protection of public health.”

Turning Point has reported spending $14 million in 2020 on the PMTA application according to the company’s annual filing. In 2019, the company spent  $2.2 million on the PMTA. Turning Point also said that as a result of the rescission letter, it withdrew both the petition for relief and motion to stay that it had filed with the 6th Circuit Court of Appeals.


Debra BorchardtOctober 7, 2021
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After the market closed on Tuesday, Humble & Fume Inc.(CSE: HMBL) reported its financial results for the fiscal 2021 fourth quarter and year ending June 30, 2021. For the quarter, Humble delivered revenue of $19.4 million an increase of 33% from last year’s $14.5 million. The company attributed the increase in revenue to strong sales in the U.S. and Canadian accessories wholesale market. Humble’s accessory lines include some of the highest-rated products like Puffco, Storz & Bickel and Ryot.

The company reported that the net loss for the quarter was $88,904, or $0.00 per diluted share, a 99.7% decrease from last year’s net loss of $4.1 million, or $0.08 per share. The company said that the net losses were primarily driven by growth in overall headcount levels primarily to support increased U.S. and Canada sales, higher sales and marketing expense to support brand partnerships and the launch of FUME, and higher freight costs included in the company’s cost of goods sold selling expenses, and higher share-based compensation expense compared to the year-ago period.

“Humble bridges the gap between cannabis brands, accessory producers and the growing retail market in North America to drive increased sales and maximize financial performance for our partners. Throughout fiscal 2021, we significantly increased our new retailer accounts, which helped drive record fiscal year revenue of $74 million. Revenue increased 71% while gross margin increased by 143% year-over-year. We achieved this strong organic growth and margin enhancement while continuing to identify new opportunities to grow profitably,” said Joel Toguri, Chief Executive Officer of Humble. Togiru was recently named the company’s CEO  and was the former Chief Revenue Officer at The Supreme Cannabis Company Inc.

Full Year Results

Humble reported that the revenue for fiscal year 2021 was $74.1 million, an increase of 71% from last year’s $43.4 million. The company attributed the increase in revenue to stronger sales in the U.S. and Canadian markets for the company’s accessories line, an increase in sales from Fume Labs, and increased service fees for Humble Cannabis Solutions. The operating loss declined by 14% as operating expenses as a percentage of revenue improved year-over-year by 50%. The net loss for the fiscal year 2021 was $13.0 million, or $0.20 per diluted share, compared to $15.7 million, or $0.26 per share, for the fiscal year 2020. The change in net losses year-over-year were driven by higher gross margins and sales in 2021 from the company’s core distribution business, as well as one-time charges related to its RTO transaction and the fair value adjustment of the derivative liability for the convertible debenture.

Mr. Toguri added, “As we look ahead to the next few quarters, we are focused on rationalization of the business further to drive profitable growth. In addition to maintaining our rapid growth, we are laser-focused on further improving margins and cash flow by managing expenses, finding efficiencies and streamlining our product procurement and inventory management systems. We believe that we have the vision and capital resources to continue executing during our rapid growth phase and as we move to generate sustainable profit and positive cash flow to deliver long-term shareholder value.”

“Fiscal 2021 resulted in significant milestones for Humble, most notably the successful closing of our go-public transaction, commencing trading on the CSE, and the introduction of new leadership, with Joel Toguri as Chief Executive Officer. As a proven leader, with strong experience in the cannabis industry, the Board is extremely pleased to have Joel at the helm as we streamline operations and continue to focus on retail distribution and sales growth over the coming year,” said Shawn Dym, Executive Chairman of the Board of Humbl


StaffSeptember 20, 2021
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Stem Holdings, Inc., also known as Driven by Stem (OTCQX: STMH) (CSE: STEM), is buying an Oregon-based extraction company called Artifact Extracts and two dispensaries. The deal is valued at $2.9 million and closed last week on September 17th.

The acquisition increases the footprint of fully-owned dispensaries on the West Coast for Stem to six locations. It will expand its Oregon presence with a dispensary in Salem, to be re-named TJ’s on Broadway, and a dispensary in Eugene, to be re-named TJ’s on 7th, flanking its two existing dispensaries in the city.

“Artifact is recognized for the potency and purity of its high-quality line of concentrates that have driven its growth in the Oregon market,” stated Adam Berk, CEO of Stem. “As a result of this strategic acquisition, we will benefit from the expertise and broad capabilities that the Artifact team will provide to our existing extraction team that has specialized in tinctures and edibles, as well as in retail operations. We look forward to integrating Artifact’s operations, dispensaries, and leadership into the Stem family, and quickly expanding product distribution to our full retail customer base for rapid growth.”

The company supported its decision to buy the extractor by noting that the national market for concentrates grew 40% last year. The company said it will integrate Artifact’s premier line of concentrates including budder, badder, shatter, crumble, rosin, THC A crystals, and other popular forms into Stem’s family of brands and product lines.

Jesse Johnson, the lead extractor at Artifact, commented, “We have worked with Stem in the past and trust the quality of the cannabis grown in its facilities. The synergies of this acquisition will build value for the company as we combine our expertise to launch cutting-edge products meeting the needs of this evolving market, as well as increasing their market penetration with an expanded retail and delivery platform,” he concluded.

Last month, Stem reported third-quarter record gross sales of $12.4 million and net sales of $10.6 million, a 104% increase and 103% increase, respectively, over the prior year’s $6.1 million gross sales and $5.2 million net sales. Stem also reported a 19% increase in total dispensary sales, a significant outperform to market particularly in Oregon which grew at 7% in the same period. This effort dovetailed with the launch of the company’s Budee delivery platform in Oregon which occurred on August 9, 2021. A customized app was built from front to back for this official launch, and Budee is now anchored by Stem’s TJ’s on Powell dispensary servicing the Greater Metro Portland area. Stem said it expects that Budee will expand to cover the majority of Oregon beginning with the Eugene metro in October 2021.


StaffJuly 1, 2021
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Some people like to smoke cannabis, others like to eat it—and some like to vaporize it! As places around the world continue to legalize cannabis, businesses are realizing the opportunities to be had in this growing market. 

Each year, consumers look forward to innovations in technology. When it comes to cannabis vapes, the market is booming with new devices and tweaks to existing products. Entrepreneurs don’t want to miss the opportunity to create the next best vape.

Cannabis vape tech is taking off globally, and here are 3 reasons why:

Demand is Increasing

During the pandemic, many consumers have reported that their medical use of cannabis for mental health reasons has increased. In addition, more and more states are legalizing the medical and recreational use of cannabis. To meet the rising demand, and to accommodate new consumers, vaping technology is advancing rapidly.

Whether consumers prefer to use dry flower or oil in their vapes, there’s a device on the market designed to meet their needs. Pods, pens, and box mods—you name it, there’s a cannabis vape for it. Now that demand is increasing for cannabis vapes, new products are being designed to accommodate them.

To gain a competitive edge in the market, there are new vaporizers coming out. Some utilize technology for a more user-friendly experience, like disposable or pre-filled vapes. Others focus on sustainability to appeal to eco-conscious consumers. Features like longer battery life, self-cleaning, and the shatter-resistant casing will set cannabis vapes apart in a saturated market.

Producers are always racing to meet the needs of the market, and in 2021, the market is full of opportunities for innovative vape devices. Given how recently cannabis was legalized in many states and countries, there’s plenty of room for growth—the question is, who will capitalize on it first?

Fewer Consumers are Smoking

Given the global outbreak of respiratory illness, more consumers are moving away from smoking and gravitating towards vapes. When cannabis is vaporized, it’s consumed at a lower temperature than when it’s smoked. If cannabis is smoked, it will cause combustion, which can produce harmful byproducts. The consumer is not exposed to these chemicals when cannabis is vaporized.

As public awareness about the respiratory issues associated with smoking increases, vaping is on the rise. Not only does vaping cannabis help consumers give up smoking, but the devices are more discreet and easy to use.

Someone who’s transitioning from smoking to vaping may be unsure of where to begin. There are different vapes to start with for new users, designed for ease of use. These include pens, pods, and disposable vapes. As more and more consumers switch to vaping, we expect to see user-friendly devices become increasingly popular.

There has never been a better time to quit smoking than right now when COVID-19 is still making waves around the globe. The fate of the cannabis market seemed uncertain at the beginning, but now the trend is clear: vaping cannabis is on the rise.

Vape Tech Producers are Partnering with Cannabis Cultivators

There’s one main barrier to producing new vape technology: state regulations. With the implementation of PMTA (Premarket Tobacco Application) looming over the tobacco vaping industry, some worry that cannabis vapes will be the next target.

To counteract these issues, companies are moving away from producing cannabis and devices. Instead, they are only producing vapes and relying on partnerships with popular cannabis cultivation companies. Businesses can specialize in creating cannabis tech without being held up by the licenses and regulations associated with cultivation. 

By partnering with cannabis producers, vape manufacturers can place their sole focus on improving their products. They don’t need to worry about obtaining licenses if they partner with companies that already have them; instead, they can work on releasing the next innovative vape.

When businesses focus their resources exclusively on advancing the technology of vaporizers, advancements can be made that will transform the vaping industry.

Cannabis vape producers are trying to match the fast pace of the market in 2021. In recent years, there’s been an influx of cannabis consumers interested in vaping, and the pandemic has only accelerated that trend. 

We anticipate that as the demand for cannabis vaporizers increases, the technology will develop rapidly to appeal to new and seasoned vapers alike.

 


StaffJune 28, 2021
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Editors Note: This is a guest post.

At Green Market Report, we like to focus on finances and analytics in the cannabis industry. In this article, however, we’re going to shift our focus a little bit – to fake vape cartridges.

Fake vape cartridges are a serious problem. They’re often made to mimic well-known brands, and they can reduce consumer confidence in the industry. Worse still – they can make you very sick, or even kill you if you don’t know how to spot them.

Unfortunately, the packaging for these vape cartridges can be incredibly professional. In this article, we’ll give you some tips on how you can spot the fakes. But first, a piece of advice:

Only buy from legal vendors and trusted brands

The easiest way to avoid fake vape cartridges is to only purchase from trusted sources. You can get lab test results from legal vendors, as cannabis producers have to provide them. In those test results, you can see exactly how much THC – and other chemicals – are present in the cartridge you’re purchasing.

Getting your products from trusted producers like PAX Labs, makers of the Era Pro, Era Life, PAX 2 and 3, will significantly reduce your risk of ending up with a fake vape cartridge.

Of course, this advice is only so good when you’re purchasing your cartridges online, or if you’re living in a state where cannabis is still a black market product. In light of that, here are a few tips for spotting fake products.

Know your brands

Websites like Leafly are incredibly good at listing reliable brands and reviews for those brands. Before you purchase or vape a cartridge, look up the brand and name on Leafly or a similar resource site. There are so many different vaporizer cartridges cataloged on these sites that if yours is legitimate, you’re almost sure to find it.  

Once you find the product in question, check reviews. You should also visit the website of the brand you’ve purchased. Then, compare the packaging you find with the packaging on your vape cartridge.

This is not a foolproof method – some of the nefarious actors creating these fake cartridges go out of their way to make their packaging match the real thing. Some of them create very high-quality websites. But doing your research can seriously help reduce your risk.

Check for regulatory compliance

This technique isn’t flawless, but it can help when you otherwise can’t tell whether or not the cartridge is legitimate. 

Check the regulatory requirements for vape cartridge packaging in your area. In California, for example, you’re required to have:

  • Manufacturer name and contact information
  • Date of manufacture/packaging
  • Government warning statement for cannabis products
  • UID number 
  • Batch or lot number
  • Instructions for use and any preparation needed
  • List of all ingredients 
  • Allergens
  • Artificial food colorings 
  • Expiration, use-by or best-by date

 

Check state laws or federal laws (in Canada) to see what information is required on the package, then check your package to see if it complies with those regulations. A weed store in Winnipeg is going to have different packaging requirements for its products than a weed store in Denver. 

Be suspicious of overly good deals

See a cartridge that promises 99.9% THC for $10?

Be very suspicious.

Check online or at your local licensed vendor to see how much cartridges go for, what ingredients they have, and the amount of THC in the cartridge. Compare those values to the values of the cartridge you’ve purchased – if things are drastically different, you probably have a fake cartridge.

Trust your gut

If something feels like it’s too good to be true, it probably is. You might not be able to tell by taste, smell, or sight. You might just feel like something is wrong.

That’s okay. Trust that instinct. It’s better you waste a few bucks throwing out a real vape cartridge than it is to take a gamble on a fake one and lose.

We hope this brief article helps you avoid fake vapes. Stay safe out there! 

 


StaffJune 24, 2021
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Precision Extraction Solutions and Cascade Sciences have entered into a definitive merger agreement to create Sinclair Scientific, forming the largest cannabis and hemp extraction equipment and services company in the world with an unparalleled portfolio of technological offerings. the two operators have combined annual revenue of over $100 million.

The global cannabis extract market size is expected to be valued at $28.5 billion by 2027, according to a new report published by Grand View Research, Inc. It is projected to expand at a CAGR of 16.6% over the forecast period. Based on product type, cannabis extracts are classified into oils and tinctures.

The merger between Precision and Cascades is one of the first major consolidations in the cannabis extraction equipment and life sciences space. Sinclair Scientific said it plans to add more brands to its portfolio, including highly innovative and disruptive technologies to further its growth.

“This is a major milestone in the cannabis extraction equipment and life sciences space and we are thrilled about the unique opportunities this merger will create for our customers, as well as our employees, business partners, and shareholders,” said Marc Beginin, CEO of Precision Extraction Solutions. “Our combined company will have the most respected, recognized, and storied brands in the global cannabis extraction industry, and together we will create even brighter futures. This combination offers significant value to our stakeholders in a company firmly positioned for exponential growth.”

The CEOs of both Precision and Cascade are stepping down. Beginin and  Lee Kearney have each taken seats as directors on the newly formed board of Sinclair Scientific. The first act of Sinclair’s board was to unanimously appoint Doug Dowd as the Chief Executive Officer of Sinclair Scientific. Dowd brings more than 35 years of executive leadership experience with some of the largest life sciences companies in the world (including Thermo Fisher and Avantor Sciences) and a proven track record of management expertise and operational results. Most recently, Mr. Dowd served as president of Ricca Chemical Company, a leading manufacturer of analytical solutions and standards in North America.

The newly formed entity will have offices, warehousing, and production facilities throughout the United States including CaliforniaColoradoMichiganNew Jersey, and Oregon.

Lee Kearney, CEO of Cascade Sciences, added, “Through merging Precision and Cascade, we are creating an unmatched platform for both U.S. and international growth. Our combined brands and businesses mean increased scale, solidifying our position as the world’s premier provider of the most innovative equipment, robust technology, and unparalleled customer service in the extraction industries. We greatly admire the business that the Precision team has built, and we are excited to work with them to integrate our two companies and execute on the attractive growth opportunities ahead.”


StaffApril 29, 2021
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Editors Note: This is a guest post.

Terpenes can be found in almost all species of flora. They are chiefly responsible for the aromatic and flavor diversity in the plant kingdom.  Simple chemical compounds, terpenes are created to help plants defend themselves against threats and to attract beneficial species.  In Cannabis sativa, terpenes are produced in the resin glands along with the cannabinoids and often work together to enhance or alter the effects of one another. This list houses information about the most common and abundant terpenes found in cannabis, including their flavors and known medical benefits. For full guides and artistic visualizations, view the terpene infographics from Goldleaf.

LINALOOL

This terpene’s hallmark is its floral scent, reminiscent of sharp and sweet wildflowers. It is also found in lavender, laurel, birch and rosewood.  It has calming and sedative properties and can help relieve anxiety.

Medical value: analgesic, anti-epileptic, anti-depressant, anti-anxiety.

β- CARYOPHYLLENE

Known to have an aroma that is peppery, woody and spicy, this is the only terpene proven to interact with the endocannabinoid system (CB2) in our bodies. It is also found in basil, oregano, pepper, and cinnamon leaves.

Medical value: anti-inflammatory, analgesic, anti-spasmodic, sleep aid.

α PINENE

The most common and abundant naturally occurring terpene, it is a main contributor to cannabis’ tell-tale piney aroma. It is also found in many conifer species and herbs such as sage. It is known to enhance memory and alertness.

Medical value: anti-inflammatory, bronchodilator.

MYRCENE

Described as earthy and musky, this terpene is prevalent in most all strains of cannabis. It is known to enhance THC uptake and contributes to the sedating and calming effects often associated with indica. Myrcene is also found in mango, hops, thyme, and citrus.

Medical value: analgesic, anti-inflammatory, antibacterial, antifungal, sedative.

HUMULENE

Another strong contributor to the tell-tale “earthy” aroma of cannabis, this terpene is also present in hops and coriander. Humulene can act as an appetite suppressant and offers potent anti-inflammatory abilities.

Medical value: anti-inflammatory, anti-bacterial, analgesic.

TERPINEOL

Due to its pleasant aroma reminiscent of lilac and flower blossoms, it is often used in cosmetic products such as soaps. It is often found in higher concentrations alongside pinene, which unfortunately may mask its scent.  It is known to have relaxing effects.

Medical value: antibacterial, anti-anxiety, immunostimulant.

LIMONENE

This terpene is normally found in higher concentrations in sativa varieties and is associated with elevated mood. It can be found in the rinds of various citrus fruits, juniper, and mint. Limonene has a unique ability to quicken the absorption of other terpenes in the body.

Medical value: anti-anxiety, anti-depressant, gastroesophageal reflux, antifungal.

TERPINOLENE

Having a piney aroma with notes of herbs and wildflower, this terpene is often used in perfumes and as an insect repellant.  It is also found in rosemary, sage, and Monterey cypress. Terpinolene has been shown to exhibit antioxidant and anticancer effects and as a sedative.

Medical value: sedative, anti-tumor.

GERANIOL

Creating a delightfully sweet smell akin to roses, this terpene is present in geraniums, lemons, and tobacco and is often used in perfumes and other cosmetics. It is also an effective mosquito repellant.

Medical value: neuroprotective, anti-fungal, anti-tumor.

VALENCENE

Getting its name due to its high concentration in Valencia Oranges, this terpene has a citrusy sweet aroma.  It is also found in grapefruits, tangerines, and some herbs. It is common in many strains of cannabis and is shown to be a powerful tick and mosquito repellant.

Medical value: *still being researched.

OCIMENE

Found in a wide variety of botanicals, it is known for its sweet and woodsy scent. Plants use ocimene to defend themselves against pests in nature. It is also found in mint, parsley, pepper, basil, orchids, and kumquats.

Medical Value: antifungal.

BISABOLOL

Also carrying a distinct floral aroma, this terpene is prevalent in chamomile and likely responsible for many of its medical benefits. It can be used to heal wounds due to its antibacterial properties.

Medical value: antibacterial, anti-inflammatory.

EUCALYPTOL

Commonly associated with the Eucalyptus tree, this terpene has an iconic spicy and fresh scent. It is used in a variety of products such as cough suppressants, mouthwash, and deodorants and has many proven uses. It is a mainstay in traditional Chinese and ayurvedic medicine.

Medical value: analgesic, antibacterial, anti-inflammatory, sleep aid.

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Written by: Alfonso Colasuonno, Researcher and Writer at Goldleaf Ltd

Sources: National Center for Biotechnology Information (NCBI); SC Labs Inc; “Cannabis sativa: The Plant of the Thousand and One Molecules“, Andre CM, Hausman JF, Guerriero G.

 


Debra BorchardtDecember 9, 2020
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Looking back at 2020, the Brightfield Group determined the cannabis product shelf space winners. A review of the first three quarters provided a snapshot of which products cannabis consumers wanted most. This type of information is invaluable to producers and dispensary owners alike. The producers can make sure that they have these products in their portfolio and dispensaries can make sure they stock their shelves with the items that customers want.

Increased 2020 Shelf Space:

  1. Candy
  2. Cartridges/Pods
  3. Resin/Rosin
  4. Disposable Pens
  5. Baked Goods

Candy

Brightfield’s report found that since January 2020, the candy category has captured 12% of the shelf and in August held 14% of the shelf its largest position to date. The category has grown by 41% in 2020. The report also noted that the shelves saw a shift towards luxury and premium prices.  Consumers have also been drawn to natural marketing and like options that are vegan, non-GMO, and additive-free.

Top Candy Flavors:

  1. Raspberry
  2. Watermelon
  3. Strawberry
  4. Fruity
  5. Chocolate

Top Candy Brands

  • Cheeba Chews
  • Smokiez Edibles
  • Kiva Confections
  • Wyld

Vapes

Despite the vape crisis of 2019, vape products commanded 22% of the shelf space for 2020. The report found that cartridges and pods grew shelf space by 3% in 2020. 74% of these products were in 500mg packages and a majority were marketed for relaxation and stress relief. The price preference was the opposite of candy, but that’s probably because vapes in general are more expensive. Budget-priced products saw an increase in shelf space and premium-priced products saw shelf space declines.

Top Vape Attributes

  1. Relaxation
  2. Stress
  3. Focus & Creativity

Top Vape Brands

  • Stiiizy
  • Jetty Extracts
  • Raw Garden
  • Curaleaf
  • Pure Vape
  • Alpine

Resin & Rosin

THC concentrates continue to win over new consumers. The product packs a bigger punch than vapes or traditional flower that typically deliver 15%-35% THC. These concentrates can provide doses of 60%-90% THC. While dabbing shatter, wax, or crumble has been the predominant concentrate method, rosin and live resin are coming on strong. Rosin is made with a solventless method that relies only on heat and pressure to extract cannabinoids and delivering a “cleaner” dab. Live resin is made with more traditional extraction methods and preserves the terpenes. This category increased its shelf space by 3%, while the shatter, wax and crumble categories fell.

Disposable Pens

Brightfield found that while disposable pens only garnered 4% of the dispensary shelf space, distribution grew by 68% in 2020. Once again, stress relief was the top choice for this consumer. The smaller products having 300mg grabbed the most space within the category and tend to be the most affordable. It’s the product of choice among the price-conscious consumer.

Baked Goods

Marijuana brownies are the OG of cannabis consumers, but the inconsistent response time for consumers make these products less desirable. Customers may react quickly or slowly after consuming a cookie or brownie and this lack of consistency is an issue. Only 3% of the distribution goes to this category. Still, in 2020 there was a 40% increase in shelf space for baked goodies.

Brightfield’s Top ten Product Launches of 2020:

  1. Care by Design – 8:1 Vape Cartridge
  2. Claybourne Co. – 501St OG Bud
  3. Kiva Confections – Midnight Blueberry Camino Gummies
  4. Stiiizy – wedding Cake Live Resin Pod
  5. Raw Garden Sleeroy G Pod
  6. Yummi Karma – YK Drops – Draft Away
  7. West Coast Cure – Venom Og Live Resin Sauce
  8. Pacific Stone – 505 Sour Hybrid Bud
  9. Heavy Hitters – Forbidden Fruit Cartridge
  10. Connected Cannabis Co. – 100% Live Resin Disposable

 

 


StaffAugust 18, 2020
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Under the coverage of a Health Canada Schedule 1 Controlled Drugs and Substances Dealer’s License, Mydecine Innovations Group, Inc., (CSE:MYCO) (OTC:MYCOF) (FSE:0NFA) (“Mydecine™” or the “Company”) announced that it is the first organization to exercise its cGMP capabilities under a special license to legally produce, transfer, sell, and export pharmaceutical-grade psilocybin, naturally derived from whole-mushroom extraction.

Mydecine™ has the full range of capabilities to extract fungi’s natural psychedelic compounds, such as psilocybin and psilocin from certain species of fruiting body mushrooms all the way through to distribution. Mydecine™ also has the ability to conduct the most advanced techniques to produce purified pharmaceutical-grade extract, then legally export its finished byproducts to its various research partners throughout the world, including but not limited to the Imperial College of London and Johns Hopkins University.

The Company is also capable of supporting commercial research institutions with product donations, including charitable contributions to provide its purified extracts and formulations to end-of-life distressed patients. The announcement comes on the heels of a recent landmark decision by Health Canada to permit four terminally ill patients to consume psilocybin mushrooms to ease their distress. This historic decision establishes a precedent that will pave the way for a wider adoption of psilocybin-based therapies.

“Mydecine’s breakthrough to legally supply naturally-sourced psilocybin within our spore-to-sale™ process will be a major advancement for mental therapeutics, due to the fact that these unique psychedelic compounds are both safe and effective for afflictions, such as depression, anxiety, and PTSD,” quoted Damon Michaels, COO and Co-Founder of Mydecine™.

There is still debate as to which is more successful in psychedelic-based treatments between naturally derived psilocybin or the use of a synthetic form. Given Mydecine’s full legal ability to access both types of active compounds, the Company is poised to internally answer that question as well as aid various qualified groups also conducting this type of research. In theory, there are a plethora of added benefits in regard to the entourage effect of naturally-sourced psilocybin versus the synthetic route. Additionally, Mydecine™ is developing a number of unique API’s from their naturally-sourced cGMP psychedelic extracts. Mydecine™ will also be conducting R&D to produce novel proprietary formulations by synergizing psychedelic fungi compounds with other various API’s; Mydecine™ will then attach their formulations to their exclusive delivery mechanisms. Mydecine™ plans to utilize these psychedelic medicinal formulations in various clinical environments around the world in aspiration to better the lives of many.

The Company notes that although several international companies and research institutions are permitted to utilize synthesized psilocybin, the process is extremely challenging and cost prohibitive with a single gram having the price tag of thousands of dollars. Being able to legally extract psilocybin from its natural source, Mydecine™ will hope to reduce these significant costs and improve the scalability of world-class research initiatives and novel therapies.

CEO and Director of Mydecine™, Joshua Bartch stated, “We are extremely grateful to have the ability to provide cGMP psychedelic API’s to qualified organizations, research partners, nonprofits, and clinical groups throughout the globe. We believe the reason current psilocybin-based research initiatives come with a very high cost using inefficiently produced synthetic psilocybin is simply due to a lack of capabilities and legal restraints. Mydecine’s legal capabilities through the dealer’s license will incorporate our range of abilities, which will be valuable for naturally-sourced medicine paired with new-age technology. We believe our achievement is the first-of-its-kind.”


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