Wana Brands Archives - Green Market Report

Debra BorchardtDebra BorchardtDecember 12, 2018
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8min1422818

This story was updated on December 11, 2018.

The 2018 Farm Bill has passed in the U.S. Senate with a vote of 87-13. The legislation goes to the House next for a vote and if it passes there, it will head to the President’s desk to be signed. Hemp will be switched for review to the Department of Agriculture and away from the Justice Department.

Language that would ban people with felony convictions from working in the hemp industry was amended so that the ban would end 10 years after this legislation is passed.

Hemp farmers and CBD-related companies will benefit the most from the passage of the Farm Bill. CBD or cannabidiol is derived from the cannabis plant but has none of the psychotropic effects of THC. In The Farm Bill, there is language that amends the Controlled Substances Act and legalizes CBD. The passage reads as follows:

‘(B) The term ‘marihuana’ does not include— 10 ‘‘(i) hemp, as defined in section 297A of the 11 Agricultural Marketing Act of 1946; or 12 ‘‘(ii) the’’. 13 (b) TETRAHYDROCANNABINOL.—Schedule I, as set 14 forth in section 202(c) of the Controlled Substances Act 15 (21 U.S.C. 812(c)), is amended in subsection (c)(17) by 16 inserting after ‘‘Tetrahydrocannabinols’’ the following: ‘‘, 17 except for tetrahydrocannabinols in hemp (as defined 18 under section 297A of the Agricultural Marketing Act of 19 1946)’’.

It is expected to be removed from the DEA’s schedule 1 list to schedule 5, which is the lowest level and would lift the DEA’s restrictions. CBD products have already begun to explode in the marketplace in anticipation of these changes.

“The cannabis industry is closely watching the outcome of the Farm Bill. And while we are seeing a lot of startups try to move in, nobody is better suited to operate in this market than experienced licensed cannabis manufacturers,” said Nancy Whiteman, founder, and CEO of Wana Brands, makers of cannabis-infused products.” Marijuana-infused producers have been perfecting precise dosing, testing, and supply chains for the past decade, and these companies will lead the way in the next generation of CBD products.”  Wana Brands has the leading THC gummy in Colorado, but it will be producing a CBD only version in 2019.

GW Pharmaceuticals (NASDAQ: GWPH) had its drug Epidiolex approved by the FDA earlier this year and removed from the schedule 1 category. This medicine though has a very high level of CBD, unlike the mass-market versions which have fairly low levels of CBD. Plus, patients know exactly what they are getting with the prescription drug. Consumers purchasing mass market CBD products generally have no idea how much CBD is in the product or how it was manufactured.

“What is known about CBD is only the tip of the iceberg,” said Lisa Richards, co-CEO, L’eela CBD Body Care:  Consumers are just starting to understand the benefits of CBD, and when the floodgates open, they are going to need to be educated and be their own advocates. Hemp may be federally legal with the passage of the Farm Bill. However, more importantly, where is it sourced? How is it processed? The passage of the Farm Bill is only the first chapter.” All L’eela products are made with hemp that is grown and processed in the United States.

Many companies use CBD oil that is made from Chinese hemp. In 2017, the FDA issued warning letters to several CBD companies. The products didn’t contain the level of CBD that they claimed or the companies made marketing claims about health conditions for which there was no scientific proof. With these new changes, the industry has a better chance of creating standards so that consumers can make educated choices.

The Farmers

In addition to boosting the product sales of CBD brands, the Farm Bill will benefit hemp farmers. Chase Terwilliger, CEO of CBDistillery, a Balanced Health Botanicals brand said that the biggest benefit to hemp farmers is that they will be able to buy crop insurance. Most farmers have this type of insurance to protect them from weather or anything else that could hurt a harvest. Hemp has only been approved from a research standpoint and so it wasn’t eligible for crop insurance.

There is a big desire to shift some of the Chinese production of hemp back to the United States. One reason Senator McConnell has been supporting the inclusion of hemp in the Farm Bill is that it gives tobacco farmers in Kentucky a way to keep their farms productive.

“Hemp is fairly inexpensive to grow and maintain,” he said. “But we hear from farmers that harvesting is a big challenge because the farm equipment isn’t designed to handle the product which is extremely fibrous.” Terwilliger also noted that hemp is a very absorbent plant and with China’s pollution, their hemp plants tend to have heavy metal exposure. “Consumers deserve a high-quality hemp plant,” he said.

Farmers have already begun carving out small sections of their farms to begin testing hemp. 100 acres was seen as a little risk. Now, it is expected that many farmers will quickly make the switch if the plant is legal.

Options

Terwilliger also noted that like traditional agriculture, there could soon be hemp futures. Farmers like futures contracts on their crops as it locks in a price. Options traders will buy and sell these instruments like any other agricultural product. “It will turn into a commodity that futures can trade on,” he said.


Debra BorchardtDebra BorchardtJuly 23, 2018
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4min20521

A new report from High Yield Insights has determined that women are the biggest fans of cannabis edible products. The Chicago-based research firm studied the cannabis consumers in the legal status and found that when it came to edibles, consumers “more likely to be lighter users (using one time or less per month), newer to using (less than 5 years), female, college educated and high-income
earners.”

The report also learned that while many users often try their first edible in a recreational setting, many medical patients al prefer this category of consumption. The study noted that 41% of the people that responded increased their edible consumption after cannabis became legal.

“To anticipate the cannabis market’s direction, companies need to understand the customer’s mindset and purchase journey. We’re finding many customers are receptive yet ill-informed or hesitant due to unsatisfactory first experiences,” said Mike Luce, co-founder of High Yield Insights. “Customer journeys may be well-worn paths in traditional consumer packaged goods but are relatively new in cannabis. By understanding how consumers make decisions, manufacturers are better able to identify ways to improve the purchase experience and, ideally, enhance their product lines.”

It’s no surprise then that the number one best selling edible product in Colorado is a gummy from a woman-owned company called Wana Brands. According to a March 2018 report from BDS Analytics, Wana recently beat other Colorado cannabis companies to become the state’s No. 1 overall cannabis brand, selling more units and dollars than any other company.

“At Wana Brands, our focus has always been on making top-quality cannabis-infused edibles that meet our customers’ needs. They can trust Wana to deliver the most flavorful and consistently effective products, and this has helped propel us as the leading Colorado cannabis brand,” said Nancy Whiteman, Founder & CEO of Wana Brands. “Every day, consumers are learning more about the benefits of CBD and are seeking out this cannabinoid, and we’ve answered the call with a new take on our popular sour gummies featuring the citrusy Yuzu.”

Edible Bans

Still, edibles have recently come under fire as some states have begun to ban such products. The California Department of Public Health’s Food and Drug Branch changed its FAQs last week and banned the use of CBD products derived from hemp. The department claims that since the Food and Drug Administration (FDA) has not approved hemp derived CBD as a safe ingredient in food, then it should not be allowed.

Just a couple of weeks ago, the Arizona Court of Appeals ruled that medical cannabis extracts called hashish did not fall under the Arizona Medical Marijuana Act and could no longer be sold in dispensaries. The ruling though could be applied to edible products made with cannabis oil which is also an extract.  The ruling is causing a great deal of confusion and it is expected to be asked to be repealed. Many edible makers in Arizona have vowed to continue producing their products.

In the meantime, brands are finding that if women are their biggest customers, then it will make sense to market their products towards them. Hopefully, that doesn’t mean pink packaging and curly script fonts.


StaffStaffMarch 27, 2018
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4min20410

Here are the cannabis news briefs for March 27, 2018:

Personnel Changes

Acreage Holdings

Acreage Holdings, has hired Glen Leibowitz as its new Chief Financial Officer, as well as promoted George Allen to President. Mr. Allen most recently served as the Acreage Holdings CFO. Leibowitz, who brings over 20 years of finance and accounting experience to his new role as CFO, will play a critical part in Acreage’s upcoming IPO. In his previous positions, Leibowitz led financial reporting and compliance efforts at Apollo Global Management LLC (NYSE: APO) and led a global IPO team at PwC LLP (PricewaterhouseCoopers). His expertise in building and scaling operations, improving controls, and managing accelerated business growth will ensure that Acreage’s existing portfolio stretching across 11 different states continues to flourish.

 True Leaf Medicine International Ltd.

True Leaf Medicine (TRLFF) announced today the formation of the True Leaf Medical Advisory Board under its Chief Scientific Officer, a team of three leading B.C. medical practitioners committed to advancing integrative healthcare with cannabis. Dr. Chris Spooner, a respected naturopathic doctor, and champion of integrative medicine will lead the MAB in his role as Chief Scientific Officer. Dr. Spooner will be joined by Dr. Caroline MacCallum and Dr. Zeid Mohamedali, two of the most progressive medical doctors advising the cannabis industry today.

UA Multimedia, Inc.

UA Multimedia (UAMM)  announced that it has accepted Lou Klein’s resignation and concurrently appointed Michael Lajtay as the Company’s President and interim Chief Executive Officer.  The transition will take effect on March 30, 2018.

Mr. Lajtay is currently a consultant for SupraAlgae, Inc., a manufacturer of unique soil conditioners targeted at the cannabis market.  He is also involved with cryptocurrencies in various capacities since 2014.  He has served as a cryptocurrency consultant, trainer, and speaker as well as participated in numerous initial coin offerings (ICOs) and has helped launch several sophisticated mining operations.

Patent Time

NanoSphere Health Sciences Inc.

NanoSphere Health Sciences (NSHSF) announced that its flagship subsidiary, NanoSphere Health Sciences, LLC, has been granted Patent No. 9,925.149—which covers the core technology behind the production of the NanoSphere Delivery System™—by the United States Patent and Trademark Office.

The patent broadly encompasses the formation and manufacturing of the NanoSphere Delivery System™ for the delivery of cannabinoids, pharmaceuticals, nutraceuticals, cosmeceuticals and other biological agents. NanoSphere’s groundbreaking NanoSphere Delivery System™ nanoencapsulates a broad range of bioactive compounds in a protective membrane, transporting them rapidly and effectively to the bloodstream and cells for greater efficacy. This delivery platform is a breakthrough in pharmaceutical, cannabinoid, nutraceutical and cosmeceutical supplement delivery. It makes the nanoencapsulated agents safer and more bioavailable, reducing adverse effects by delivering precise doses of smart nanoparticles to target sites.

Wana Run?

Wana Brands

Colorado’s No. 1 selling edibles brand Wana Brands has announced a year-long partnership with long-distance runner Flavie Dokken to help promote the health benefits of cannabis as a natural alternative for recovery and pain relief among the athletic community.



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