“A brand is the set of expectations, memories, stories and relationships that, taken together, account for a consumer’s decision to choose one product or service over another.”— marketing guru, Seth Godin.
Cannabis producers, whether in Canada or the United States, are faced with a unique set of branding challenges that include confronting long-standing stigmas and a changing legal landscape. The most successful companies will be those that are able tackle these challenges in a way that sets them apart from their peers.
“Advertising is much more restricted in the cannabis space than in most other industries, and even the marketing avenues that are available to cannabis companies are almost always being crowded by an influx of competition,” said Bridget Renee, Marketing Director at KindTyme, an award-winning design and marketing strategy firm that specializes in the cannabis industry.
A company’s brand is much more than its logo, which means that establishing a strong presence in the emerging cannabis market goes beyond merely slapping a green pot leaf on the packaging.
“Creativity really is the key to cannabis branding, as businesses need to do something different— something memorable— in order to stand out,” Renee told INN. “Avoid the cliches, like a marijuana leaf logo or an oil droplet for concentrate brands, and instead look for opportunities to express who you are on a personal level, what your business values are, and what kind of customers you’re hoping to attract.”
“Authenticity, or the ability to be true to your mission and true to customers, is a key component of effective branding, “ says Trent Kitsch, CEO and Co-Founder of DOJA Cannabis Company, a licensed producer in Kelowna, B.C.
“There are so many dynamic layers to creating a brand, but ultimately a brand is a set of values shared by yourself and your customers,” explained Kitsch, who used his brand-building expertise to found SAXX Underwear, now one of the fastest growing premium men’s underwear brands in North America. “That starts with authenticity, from the leadership down. As Nick Graham, the founder of Joe Boxer told me, authenticity is just being yourself. I think Tesla is a good example of this outside of the cannabis space.”
In the cannabis space, an authentic brand is especially important, Enid Chen, Design Director and Co-owner of Connekta Design Solutions told INN. “A deeper level of vision is essential in order to effectively communicate your brand.” Chen advises cannabis companies to fully develop this vision and align their messaging early on so they then can engage with consumers in meaningful ways. Customers that really understand the brand are more likely to buy into it.
Building a positive, cultural experience
Growing your customer base is crucial for growth in any market. For cannabis companies one of the hurdles to attracting new consumers has been overcoming the social taboos associated with marijuana use and eroding the stereotype of the apathetic stoner.
Cannabis companies in both the medical and recreational markets are fighting back against the stoner stereotype by cultivating a positive life-style image built around health and wellness.
From a design perspective, advertising for cannabis–based businesses seeks to convey trust, professionalism and responsibility by featuring farmers tending organic crops and scientists in lab coats diligently studying a carefully managed strain. Images of everyday people enjoying outdoor activities with friends helps potential consumers relate to the brand.
“As the marijuana industry begins to mature, purveyors recognize the need to separate themselves with distinct branding. The hand-painted signs, bad puns, and Rastafarian flags that once defined the industry are giving way to sophisticated design that abandons aging stoners in favor of more upscale clientele,” explains Scott Kirkwood, a freelance creative director in Denver, Colorado.
For a region already steeped in marijuana culture like British Columbia, Connekta’s Enid Chen says connecting with consumers is more about cultural resonance and addressing their needs rather than eroding stigma. “I think using the phrase ‘overcoming the stigma’ actually raises a lot of eyebrows because for people that have been in this space for a while, especially in a place like B.C., stigma is not a thing to them anymore. People forget there is a deep culture surrounding cannabis in B.C., so rather than stigma, it’s important to discover what is most important to consumers.”
For medical cannabis patients that might be what strains are best for treating their particular condition. For the recreational user, who probably has been smoking for years, rather than stigma they are concerned with discovering who has the best quality flower and how to access it.
This is where “authenticity” becomes critically important, says Chen. Leveraging the region’s reputation for expert cultivation, quality flower and positive vibes means B.C.-based producers will have to remain true to those values within their brand and their product.
Consumer packaging design
Some of the branding strategies cannabis companies are using to promote a more positive association with marijuana consumption include community engagement and good packaging design.
Because packaging is the closest branding element to the product, “it is a much more likely target of judgement,” says Renee. “It’s important to stray away from the expected counter-culture designs (pot leaves, tie dye, tacky art), and opt for more polished and unique packaging. After all, you can’t expect non-cannabis users to take your products seriously if it doesn’t look like you are too.”
Good packaging design is also good for increased sales. According to a recent study by Affinnova, 36 percent of customers purchased a product based on product design and 64 percent of customers chose a new product based on good packaging design.
Packaging design is crucial because it is a reflection of the brand, according to Kitsch, who is combining his expertise in branded consumer packaged goods with his passion for cannabis culture to position DOJA as a market leading lifestyle brand in the cannabis industry. “Good design is part of the paint in the final product. It supports the brand and communicates to the consumer who you are and why your product is superior to the others on the shelf.”
Most cannabis consumers’ purchasing decisions are based on first impressions and budtender recommendations which means that packaging design is one of the few opportunities that a cannabis company will have to promote their product. “Good packaging allows a product to jump off the shelves, stand out and solidify the brand’s identity. It all comes down to ‘memorability’,” says Sebastian Dean, Lead Designer at Portland, Oregon-based KindTyme.
Connekta’s design principles are founded on the importance of maintaining brand authenticity through minimalistic design. “Good packaging requires thoughtful consideration for shapes, textures, colors, materials, and visual appeal,” says the company’s website.
Advertising regulations in Canada
As Canada moves closer to legalization on July 1, 2018, there is still some uncertainty as to how the government will regulate cannabis-related advertising and marketing. Canada’s cannabis task force has recommended plain packaging that only conveys the company name, strain name, price, amounts of psychoactive ingredients and warnings.
“The Government of Canada’s legislation on cannabis legalization set out broad parameters in anticipation of developing details for the branding, marketing and advertising for recreational cannabis,” says CannabisConnect, a division of government relations firm Global Public Affairs. “Meaning that the framework governing this part of the industry will be largely determined through a regulatory framework and package developed in conjunction, but finalized after the legislation passes Parliamentary review.”
In the lead up to legalization, Canadian-based cannabis companies are lobbying the government for advertising rules that will enable them to effectively brand and market their products. Their argument is that such branding is critical to luring cannabis customers away from the multi-billion dollar black market—which is the premise behind the federal government’s move to legalize cannabis consumption in the first place.
In July 2017, sixteen of Canada’s licensed producers together with the Canadian Medical Cannabis Council and Cannabis Canada Association announced their collaboration with the Advertising Standards Canada (ASC) to develop guidelines on the branding and promotion of cannabis. The licensed producers include Canopy, The Green Organic Dutchman, Supreme Pharmaceuticals and WeedMD. “[I]t is critical that Licensed Producers can push back against Canada’s thriving illegal market, while educating adult consumers about various product strains, responsible use as well as how to differentiate between high and low-quality cannabis product,” noted the press release.
Any restrictions on marketing aren’t likely to hamstring creativity when it comes to a company’s branding power, however, note many in the design and marketing space. The key components are establishing your brand ahead of the curve, as Chen recommends, developing a high quality product that speaks for itself and developing creative alternatives to traditional forms of marketing.
Speaking to the importance of a quality product, DOJA’s Trent Kitsch says, “You can’t build a brand from the box in; you have to build a brand from the product out. Essentially, your brand can’t be built without a quality product first.”
Connekta’s Enid Chen agrees, “You don’t have to shout in order to stand out. What’s crucial is that your brand reflects the power of your product without overwhelming the consumer.”
There may be some challenges in communicating your message given the proposed regulations, she acknowledges, but Chen says cannabis companies with effective branding are those with a portfolio of marketing tools that step outside the traditional channels. This toolbox includes a number of strategies such as well-crafted websites, informative blog posts, conferences and sponsored events as well as branding on non-cannabis related products.
A strong online presence is important along with “building a unique brand that can creatively engage their customers and overcome competition”, advises Maxwell Duchaine, President of MMJ Hype, a Vancouver-based medical marijuana marketing agency.
“Make your company synonymous with the cannabis community.”—Nick Hilden
Another strategy for brand differentiation and consumer engagement is off-line community-building. “Cannabis is more than a product—it’s a movement,” writes Nick Hilden, a partner and creative director at Craft Cannabis Marketing. “Whether we’re talking about medicinal applications, legal issues, or simply the enjoyment value, remember that there is a larger culture around your product. Your brand needs to be a driving force in that culture.”
DOJA Cannabis, for example, is building brand awareness and providing cannabis information through its DOJA Culture Café in Kelowna, BC. While the café doesn’t yet offer cannabis products for sale, it does offer guests premium coffee and DOJA-branded clothing, and includes a cannabis education center with access to a network of doctors providing education and script for people looking to access cannabis under Canada’s Access to Cannabis for Medical Purposes Regulations.
“Cannabis companies have a critical role to play in building a more positive cultural image of cannabis,” says Kitsch. “We have a responsibility to create an environment where the community can freely engage in dialogue and access information about cannabis and its benefits.”
“Talking to real people and sticking you your core message is the key to a successful branding strategy,” believes Chen. Her work with CannaRep is a great example of how a cannabis brand can be a part of the larger culture. CannaRep is a cannabis coaching program that offers training and education to dispensaries and patients through a 6-month workshop. The idea behind CannaRep came from the Cann Help Deck, a cannabis education tool informed by years of data collected via the work of long-time cannabis patient advocate and lobbyist Adolfo Gonzales.
Designed by Connekta, the Cann Help Deck is now widely recognized by many cannabis dispensaries as an essential guide and used by medical cannabis practitioners in Canada to provide patient care. “We look forward to creating future additions with improvements to bring the deck to the next level and continue the movement of cannabis education through design.”
What’s around the corner for cannabis branding? Cannabis industry analyst Andre Bourque says it best: “Regardless of how you feel about the industry, cannabis is rebranding, and has the potential to become everything you think it’s not.”
Bourque thinks the coming years will be marked by transformation. We will see a “shift” in the symbols, colors and language associated with cannabis and a move toward “labeling that appeal[s] to new demographics.” In five-years-time, Bourque forecasts we may be living in an age where cannabis has gone entirely mainstream.
This INNspired article was written according to INN editorial standards to educate investors.
Health and wellness products company finalizes deal to co-manufacture CBD- and THC-infused beverages for St. Peter’s Drinks
Diversified health and wellness, beverage and natural products company, BevCanna Enterprises Inc . ( CSE:BEV , Q:BVNNF , FSE:7BC ) (“ BevCanna ” or the “ Company ”) announced today that it has signed a definitive agreement with St. Peter’s Drinks, to co-manufacture CBD and THC-infused beverages for its international beverage brand, Green Monké (“Green Monké”). This is the third white-label agreement that BevCanna has signed since receipt of its Standard Processing License , following on the heels of agreements recently signed with State B Beverages and Enthusiasmus .
St. Peter’s Drinks is employing BevCanna’s white-label partnership model, which allows non-licensed partners to enter the Canadian cannabis market seamlessly and compliantly. St. Peter’s Drinks will leverage BevCanna’s extensive experience in producing beverages at scale as well as its recently announced Canadian Sales License partnership for distribution to provincial buying groups. The white-label agreements, including the Green Monké contract, are subject to minimum order quantities.
St. Peter’s Drinks’ Green Monké brand is a cannabis beverage brand well-established in the United Kingdom. Launched in 2018, Green Monké became the #1 selling cannabis beverage in the U.K. by 2019 and launched in California in the spring of 2021.
“St. Peter’s Drinks is a perfect fit for our white-label partnership program,” said Melisa Panetta, President of BevCanna. “They’re able to fully leverage our full-service solution, including our ability to manufacture beverages at scale and our licensed manufacturing and distribution vertical. We’re excited that they’re bringing a top selling brand to Canada and have chosen BevCanna as a key partner to get them to market.”
“We’re also very pleased with the strong response to our co-manufacturing services and are continuing to build our pipeline of clients,” noted Ms. Panetta. ”This is the third Canadian cannabis deal that we’ve finalized recently, with more to come.”
“We’ve been looking for the right partner to help us produce our beverages for the Canadian market,” said Pat Gleeson, President and CEO of St. Peter’s Drinks. “After an extensive search, we found that BevCanna is a well-run organization capable of producing high-quality beverages at scale and well positioned to support us in our national distribution efforts. We’ve developed a unique brand identity that we’re eager to execute on, and BevCanna is the ideal partner to bring it to life in Canada.”
About BevCanna Enterprises Inc.
BevCanna Enterprises Inc . ( CSE:BEV , Q:BVNNF , FSE:7BC ) is a diversified health & wellness beverage and natural products company. BevCanna develops and manufactures a range of plant-based and cannabinoid beverages and supplements for both in-house brands and white-label clients.
With decades of experience creating, manufacturing and distributing iconic brands that resonate with consumers on a global scale, the team demonstrates an expertise unmatched in the nutraceutical and cannabis-infused beverage categories. Based in British Columbia, Canada, BevCanna owns a pristine alkaline spring water aquifer and a world–class 40,000–square–foot, HACCP certified manufacturing facility, with a bottling capacity of up to 210M bottles annually. BevCanna’s extensive distribution network includes more than 3,000 points of retail distribution through its market-leading TRACE brand, its Pure Therapy natural health and wellness e-commerce platform, its fully licensed Canadian cannabis manufacturing and distribution network, and a partnership with #1 U.S. cannabis beverage company Keef Brands .
About St. Peter’s Drinks
St. Peter’s Drinks is a Canadian-based craft beverage maker. They create drinks that harness the power of plants to support health and wellness. Through partnerships with beverage industry experts, they are bringing popular international brands to Canada, Mexico and the United States. In Spring 2021, St. Peter’s launched Green Monké THC “happy sodas” in California with plans to launch Green Monké across Canada, in partnership with BevCanna, in Summer 2021. St. Peter’s will also launch two other plant-powered drink lines across the U.S. this fall, being Green Monkey, the UK’s top-selling hemp extract drink, and a line of ultra-premium iced teas in partnership with internationally renowned Dilmah Teas.
On behalf of the Board of Directors:
John Campbell, Chief Financial Officer and Chief Strategy Officer
Director, BevCanna Enterprises Inc.
Disclaimer for Forward-Looking Information
This news release contains forward-looking statements. All statements, other than statements of historical fact that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future are forward-looking statements. Forward-looking statements in this news release include statements regarding: the agreement with St. Peter’s Drinks and its terms and anticipated benefits; that the Company will enter into additional similar agreements; consumer preferences for cannabis products like beverages; and other statements regarding the business plans of the Company. The forward-looking statements reflect management’s current expectations based on information currently available and are subject to a number of risks and uncertainties that may cause outcomes to differ materially from those discussed in the forward-looking statements.
Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, undue reliance should not be put on such statements due to their inherent uncertainty. Factors that could cause actual results or events to differ materially from current expectations include, among other things: general market conditions; inability to enter into additional agreements on terms favourable to the Company or at all; changes to consumer preferences; and volatility of commodity prices; and other factors beyond the control of the Company. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
For media enquiries or interviews:
Wynn Theriault, Thirty Dash Communications Inc.
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/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAWS/
Avicanna Inc. (“ Avicanna ” or the “ Company “) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN), a biopharmaceutical company focused on the development, manufacturing and commercialization of plant-derived cannabinoid-based products announces that Janet Giesselman has resigned from her role as an independent director of the Company to pursue other opportunities.
The Company thanks Ms. Giesselman for her service and her contributions and wishes her all the best in her future endeavours. The board of directors of the Company is actively engaged in the search for a suitable candidate to fill the vacancy.
About Avicanna Inc.
Avicanna is a diversified and vertically integrated Canadian biopharmaceutical company focused on the research, development, and commercialization of plant-derived cannabinoid-based products for the global consumer, medical, and pharmaceutical market segments.
SOURCE Avicanna Inc.
For more information about Avicanna, visit www.avicanna.com, call 1-647-243-5283, or contact Setu Purohit, President by email at firstname.lastname@example.org .
Cautionary Note Regarding Forward-Looking Information and Statements
This news release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information contained in this press release may be identified by the use of words such as, “may”, “would”, “could”, “will”, “likely”, “expect”, “anticipate”, “believe, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook” and other similar expressions, and includes statements with respect to the Company’s ability find and appoint a suitable candidate for its board of directors. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors relevant in the circumstances, including assumptions in respect of current and future market conditions, the current and future regulatory environment; and the availability of licenses, approvals and permits.
Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to current and future market conditions, including the market price of the common shares of the Company, and the risk factors set out in the Company’s annual information form dated April 15, 2020 and final short form prospectus dated November 27, 2020, filed with the Canadian securities regulators and available under the Company’s profile on SEDAR at www.sedar.com .
The statements in this press release are made as of the date of this release. The Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
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A renowned global bank with wealth management options has elected to block some cannabis trades from clients as part of its de-risking efforts after recent issues.
Also this week, a Canadian cannabis producer announced its intention to buy a retail operator managing nearly 100 stores in the country.
Keep reading to find out more cannabis highlights from the past five days.
Credit Suisse de-risking efforts leave cannabis out
Credit Suisse Group (NYSE:CS) clients have been unable to make some cannabis trades since March, a report from Reuters shows. The firm moved forward with a new risk management strategy after losing billions as a result of a blunder with Archegos Capital Management.
The initial list of cannabis companies blocked by Credit Suisse includes popular multi-state operators (MSOs) based in the US. These companies operate primarily out of the US, but are public on Canadian exchanges due to current American federal restrictions on the cannabis business.
Bloomberg reported that cannabis exchange-traded funds, and the shares of Canadian licensed producers Canopy Growth (NASDAQ:CGC,TSX:WEED), Aurora Cannabis (NASDAQ:ACB,TSX:ACB) and Tilray (NASDAQ:TLRY), were not on the list of blocked trades.
Experts have previously told the Investing News Network that US cannabis is the currently the most exciting aspect of the industry. At the same time, the federal status of the drug continues weigh down these names even as federal cannabis policy regulation in the country looks closer than ever.
So far it remains unclear whether the cannabis names already trading on senior US exchanges, mostly Canada-based operators, will be able to fully capitalize on any federal changes to cannabis rules.
Many experts do not expect sweeping cannabis legalization in the US, and are instead anticipating a piecemeal adjustment that would make it possible for MSOs to graduate to American exchanges.
Cannabis M&A keeps sizzling with producer buying retailer
Inner Spirit manages the Spiritleaf network of retail stores and currently oversees 86 stores across Canada. According to the firm, it will hold over 100 stores by the summer.
“Inner Spirit has successfully created a franchise-based retail network that has grown from coast to coast and offers a differentiated and premium in-store experience to consumers,” Sundial CEO Zach George said in a statement after the news was released.
The two companies expect to see the transaction close sometime in Q3 of this year. Per each share held, Inner Spirit investors will get a combination of $0.30 in cash and 0.0835 of a Sundial common share.
Cannabis company news
- Organigram Holdings (NASDAQ:OGI,TSX:OGI) confirmed a change in management, saying Greg Engel will stop being CEO of the company. Chairman Peter Amirault will now serve as executive chairman and will oversee the company while the search for a new CEO goes on.
- PharmaCielo (TSXV:PCLO,OTCQX:PCLOF) issued its financial results for Q4 2020 as well as the full 2020 year. CEO Henning von Koss highlighted that the company has streamlined operations after a tumultuous 2020, alongside completing an extraction center.
- High Tide (TSXV:HITI,OTCQB:HITIF) announced the purchase of an 80 percent stake in hemp-derived CBD product manufacturer FABCBD. The firm touts an ecommerce platform with direct sales to consumers representing approximately 124,000 orders in 2020.
- Bhang (CSE:BHNG,OTCQX:BHNGF) obtained a management cease trade order as the firm anticipates a delay to its year-end financial filings.
Don’t forget to follow us @INN_Cannabis for real-time updates!
Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.
– Lexaria recently announced favorable data on its first animal study, as well as the commencement of its first human clinical study, under its 2021 hypertension R&D program
Kelowna, British Columbia TheNewswire – May 7, 2021 Lexaria Bioscience Corp. (Nasdaq:LEXX) (Nasdaq:LEXXW) (CSE:LXX) (CNSX:LXX.CN) (the “Company” or “Lexaria”), a global innovator in drug delivery platforms, today announced that CEO Chris Bunka is presenting at the Benzinga Global Small Cap Conference to be held on May 13-14, 2021. Complimentary investor registration can be accessed through the conference link below.
Presentation date: Thursday, May 13, 2021
Presentation time: 3:50 p.m. ET / 12:50 p.m. PT
Event registration link: Benzinga Global Small Cap Conference
Mr. Bunka will provide an overview of the Company, including its DehydraTECH™ drug delivery technology that improves the way active pharmaceutical ingredients enter the bloodstream. He will also discuss Lexaria’s applied R&D programs that are evaluating the delivery effectiveness of DehydraTECH-processed cannabidiol (CBD) for hypertension, antiviral applications for SARS diseases and other infectious diseases, and multiple new markets, as well as provide updates on the progress of these studies.
The Benzinga Global Small Cap Conference, a showcase for small-cap investing, will be held in an entirely virtual setting. Designed to bridge the gap between small-cap companies, investors and traders, the Conference will enable executive leadership of companies to network and communicate with a broad and diverse global investor audience.
About Lexaria Bioscience Corp.
Lexaria Bioscience Corp.’s proprietary drug delivery technology, DehydraTECH™, improves the way active pharmaceutical ingredients (APIs) enter the bloodstream by promoting healthier oral ingestion methods and increasing the effectiveness of fat-soluble active molecules, thereby lowering overall dosing. The Company’s technology can be applied to many different ingestible product formats, including foods, beverages, oral suspensions, tablets, and capsules. DehydraTECH has repeatedly demonstrated since 2016 with cannabinoids and nicotine the ability to increase bio-absorption by up to 5-10x, reduce time of onset from 1 – 2 hours to minutes, and mask unwanted tastes; and is planned to be further evaluated for orally administered bioactive molecules, including anti-virals, cannabinoids, vitamins, non-steroidal anti-inflammatory drugs (NSAIDs), and nicotine. Lexaria has licensed DehydraTECH to multiple companies including a world-leading tobacco producer for the development of smokeless, oral-based nicotine products and for use in industries that produce cannabinoid beverages, edibles, and oral products. Lexaria operates a licensed in-house research laboratory and holds a robust intellectual property portfolio with 18 patents granted and approximately 60 patents pending worldwide. For more information, please visit www.lexariabioscience.com .
This press release includes forward-looking statements. Statements as such term is defined under applicable securities laws. These statements may be identified by words such as “anticipate,” “if,” “believe,” “plan,” “estimate,” “expect,” “intend,” “may,” “could,” “should,” “will,” and other similar expressions. Such forward-looking statements in this press release include, but are not limited to, statements by the company relating the Company’s ability to carry out research initiatives, receive regulatory approvals or grants or experience positive effects or results from any research or study. Such forward-looking statements are estimates reflecting the Company’s best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that the Company will actually achieve the plans, intentions, or expectations disclosed in these forward-looking statements. As such, you should not place undue reliance on these forward-looking statements. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation and regulatory approvals, managing and maintaining growth, the effect of adverse publicity, litigation, competition, scientific discovery, the patent application and approval process, potential adverse effects arising from the testing or use of products utilizing the DehydraTECH technology, the Company’s ability to maintain existing collaborations and realize the benefits thereof, delays or cancellations of planned R&D that could occur related to pandemics, and other factors which may be identified from time to time in the Company’s public announcements and periodic filings with the US Securities and Exchange Commission on EDGAR. There is no assurance that any of Lexaria’s postulated uses, benefits, or advantages for the patented and patent-pending technology will in fact be realized in any manner or in any part. No statement herein has been evaluated by the Food and Drug Administration (FDA). Lexaria-associated products are not intended to diagnose, treat, cure or prevent any disease. Any forward-looking statements contained in this release speak only as of the date hereof, and the Company expressly disclaims any obligation to update any forward-looking statements contained herein, whether as a result of any new information, future events, changed circumstances or otherwise, except as otherwise required by law.
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Harvest Announces Settlement with Pennsylvania Department of Health Regarding Grower Processor Permittee AGRiMED Industries LLC
Harvest Health & Recreation Inc. (“Harvest”) ( CSE: HARV OTCQX: HRVSF ), a vertically integrated cannabis company and multi-state operator in the U.S., today announced a settlement agreement has been reached for Agrimed Industries of PA, LLC (“AGRiMED”). The membership interests of AGRiMED are owned by Harvest Health and Recreation Inc.
On May 6, 2021 , the Pennsylvania Department of Health, Office of Medical Marijuana and AGRiMED reached a settlement agreement concerning the operation of AGRiMED, a medical marijuana grower processor facility in Southwestern Pennsylvania. The settlement agreement allows for the conditional renewal of AGRiMED’s permit and will allow for the increased production of medical marijuana in Southwestern Pennsylvania , which will help serve patients across the Commonwealth.
About Harvest Health & Recreation Inc.
Headquartered in Tempe, Arizona , Harvest Health & Recreation Inc. is a vertically integrated cannabis company and multi-state operator. Since 2011, Harvest has been committed to expanding its retail and wholesale presence throughout the U.S., acquiring, manufacturing, and selling cannabis products for patients and consumers in addition to providing services to retail dispensaries. Through organic license wins, service agreements, and targeted acquisitions, Harvest has assembled an operational footprint spanning multiple states in the U.S. Harvest’s mission is to improve lives through the goodness of cannabis. We hope you’ll join us on our journey: https://harvesthoc.com
This press release may contain “forward-looking statements” regarding Harvest’s business strategies or prospects, which may be identified by the use of words such as, “may”, “would”, “could”, “will”, “likely”, “expect”, “anticipate”, “believe, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook” and other similar expressions. Such statements include, but are not limited to, the following: our ability to resolve existing and future litigation, regulatory actions and arbitrations on acceptable terms; our growth potential in our core cannabis markets and the sustainability of such growth; our ability to successfully and timely execute our business and operational plans; the development of favorable federal and state cannabis regulatory frameworks in the United States applicable to multi-state cannabis operators; and adverse changes in the public perception of cannabis. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, including assumptions in respect of current and future market conditions. Actual results, performance or achievement could differ materially from that expressed in, or implied.
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SOURCE Harvest Health & Recreation Inc.
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