Preparing for the Next Big Industrial Boom
RISE Life Science Corp. (CSE:RLSC) is a Canadian-based consumer products company developing cannabis-based health and wellness products.
There’s a growing consensus that the legalization of cannabis is paving the way for the largest new industry to emerge since the tech boom.
The economic arguments are powerful. A study done by New Frontier Data revealed that legal marijuana alone in the US would create at least $132 billion in tax revenue and more than a million jobs. According to the Arcview Group, the value of the industry will reach $24.5 billion by 2021 creating a sector that is on track to become one of the most important in a very long time.
The industry is developing on two levels. One pool of companies is driven by the cultivation and sale of cannabis flower and oil. These companies are focused on optimizing growth capacity, yields, and lowering the cost per gram. The other pool of companies is focused on offering new experiences to an emerging cannabis consumer.
To date, much of the industry has been primarily focused on grow operations, but now excitement is building around the entry of new entities dedicated to creating value-added businesses using cannabis as an ingredient.
One such organization emerging as a pioneer is RISE Life Science, a Canadian-based company that started looking ahead to cannabis consumer product development four years ago.
Their corporate objective is to build a suite of value-added products for the health and wellness category with an initial focus on sexual health.
RISE Life Science knows that their ability to create products that deliver heightened experiences is also synonymous with their ability to raise the value of their products.
Leaving nothing to chance in this regard, the company recently announced that it has commissioned a longitudinal study to investigate sexual health and wellness with a particular focus on how cannabis products designed for sexual enhancement and health affect sexual behaviors and performance.
RISE products will launch in California – the largest and most sophisticated cannabis market in the world – in early summer, with products on the shelf in 70 Los Angeles dispensaries. By the end of the summer, RISE expects to have products in 150 premium store locations across the California dispensary retail market in addition to consumer-direct online sales. Another 100 stores will be added to the distribution network in less than 12 months.
To support their roll out, the company recently closed a non-brokered equity financing worth $2.2 million.
After all, California is just the start. RISE is intent on selling its products across the world in all jurisdictions that have legal regulatory frameworks in place regarding cannabis.