Cannvas MedTech (CSE:MTEC) (Frankfurt:3CM) (OTC:CANVF), a leading digital cannabis education and analytics company, is pleased to announce the official launch of its digital cannabis education resource for animals, Cannvas.Pet. Powered by the Cannvas.Me and Cannvas Data platforms, Cannvas.Pet explores health care through cannabis-based products to help treat a pet’s ailments with no pressure to purchase or consume.
“We understand cannabis legalization in Canada marks the beginning of a long journey for researchers, medical practitioners and pet owners here and across the world to examine the merits and potential health benefits of cannabis for animals,” said Shawn Moniz, Chief Executive Officer, Cannvas MedTech Inc. “Cannvas.Pet aims to break the stigma of cannabis-based pet therapy and provide unbiased education around its potential effectiveness in treating a variety of ailments through evidence-based articles, anecdotal testimonials from pet owners and oversight from a team of veterinary, health and cannabis experts.”
Modeled after the successful Cannvas.Me platform, Cannvas.Pet explores the use of medical cannabis to help a variety of common ailments for which pet owners treat their animals including: pain relief, induced calm, anti-inflammation, sleep aid, appetite stimulant, end-of-life care and more. While cannabis, hemp or CBD treats, food and supplements for animals are not approved or regulated by Health Canada, the FDA has placed no restrictions on the use of cannabidiol in animals, and a great deal of anecdotal evidence indicates many pet owners are using cannabis-based treatments to alleviate their pet’s symptoms and achieving positive results.
Revenue generation will be derived from lead-sharing with veterinary clinics, pet stores and dispensaries through a geo targeted ad program and from working with Cannvas Data to analyze anonymized data on user behaviour and report on industry trends within the cannabis sector and pertaining to the American pet industry. Pet owners in the United States spent more than USD $30 billion in 2016 on pet supplies, treatments and veterinary care, according to the American Pet Products Association. Cannvas.Pet also offers media and ad placement opportunities throughout the platform for organizations looking to reach an audience of cannabis-curious pet owners across North America.
“Pet owners have long heard about the potential health benefits of cannabis-based treatments but have had no reliable and unbiased source of information to help guide their decision-making when it comes to the well-being of their furry family members,” said Steve Loutskou, Chief Operating Officer, Global Markets, Cannvas MedTech Inc. “We’re proud to be the first platform in North America offering unbiased education around cannabis usage in animals and we look forward to aligning ourselves with leaders in the pet industry and the health sciences sector to engage pet owners to consider whether the potential benefits of cannabis-based therapy are right for their beloved animals.”
According to BDS Analytics, sales of cannabis-related products for pets at dispensaries in California, Colorado, Oregonand Washington was nearly $7 million in 2017. In Colorado alone, sales of pet products grew 49 per cent that year, while all other product categories only reached 15 per cent growth.
Several Canadian cannabis companies are already exploring the pet market as a space to offer cannabis-based therapeutic alternatives. Canopy has received approval from Health Canada to begin clinical trials researching the use of cannabis-based products to treat animal anxiety, while in early 2018 CannTrust signed a letter of intent with Grey Wolf Animal Health to develop cannabis products supporting the well-being of pets.
As with its free and physician-backed digital cannabis education resource Cannvas.Me, Cannvas.Pet will form an independent advisory board made up of experts in veterinary health, health sciences and cannabis to help guide the original content featured on the platform. Cannvas.Pet will also align itself with a number of strategic partners within and outside the cannabis industry including: animal associations, educational institutions, veterinary organizations, health sciences professionals, food or supplement manufacturers and more.
“Woof,” commented Atlas, mini Australian shepherd and Director of Cannvas.Pet. “Woof woof!”
About Cannvas MedTech Inc.
Cannvas MedTech is a leading digital cannabis education and business technology company within the health sciences space. We design and build patient-centric platforms that enable our partners to harness the power of data to truly understand their customers.
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Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Issuer’s future plans, objectives or goals, including words to the effect that the Issuer or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company’s Management’s Discussion and Analysis and other disclosure filings with Canadian securities regulators, which are posted on www.sedar.com.
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