The Canadian market will serve as the foundation for an upcoming public debut of a marijuana accessory distributor.

As Toronto-based marijuana accessory distributor Humble+fume prepares for a stock debut, the Investing News Network (INN) caught up with David Kelly, director of digital strategy with Humble & Fume (Humble+fume).

After his panel at the Lift & Co. (TSXV:LIFT,OTCQB:LFCOF) cannabis expo in Toronto, Kelly discussed the pressures on the company as it nears its public launch, the types of products Humble+fume looks to adopt and the products consumers are looking for right now.


Cannabis - Will The Fortune 500 Join The Party?

Our Exclusive FREE Report Contains Information You NEED To Know About Cannabis Stock Investing!

The company is gearing up for an upcoming public listing that would put a spotlight on its business model. The company has not disclosed an official target date for its public listing or which exchange the stock will be available on.

When asked about the challenges of reaching a public market, Kelly told INN the pressure on the company increases as it attempts to set up its foundation moving forward.

“We want to be able to build this business model in Canada and expand it in the US and then take that platform and take it into new markets,” he said.

On May 13, the company completed a C$20 million private placement financing of convertible debentures. These debentures will transform into common shares of the firm once its go-public transaction is completed.

At the conference, Kelly participated in a discussion about accessories in the marijuana market, dubbed the “Pot-Lovers’ Paraphernalia: Accessories Coming to a Store Near You.”

As a distributor, the firm operates by pursuing connections with retailers in legal marijuana markets to establish a presence for its accessory maker partners.

Kelly said the firm currently works with 90 percent of all Canadian cannabis retailers. Among some of the trends in the accessory space, Kelly conceded that luxury items have gained prominence, but Humble+fume still wants to target all cannabis consumers.


Cannabis - Will The Fortune 500 Join The Party?

Our Exclusive FREE Report Contains Information You NEED To Know About Cannabis Stock Investing!

“Coming to legalization, people are trying to redefine or reimagine who the new consumers are,” he said.

When dealing with potential new partners, Kelly told INN, the firm considers whether the products in question are innovative enough and are effectively pushing boundaries in the space.

In the lead-up to the Canadian recreational legalization on October 17, Humble+fume managed to secure exclusivity deals with the Nova Scotia Liquor Corporation and with the PEI Cannabis Management Corporation, making it the only supplier of cannabis accessories for the Atlantic provinces.

Robert Ritchot, CEO of Humble+fume, credited the firm’s product categorization, prepare, consume, preserve and live, as one of the leading reasons for the winning bid.

While the focus remains on the distribution aspect of the accessory industry, the company established an ongoing partnership with marijuana grower 48North Cannabis (TSXV:NRTH) that will grant Humble+fume access to the development of products of its own.

The agreement will see the construction of an extraction facility and packaging line next to the 48North’s operations in Brantford, Ontario, funded entirely by Humble+fume, according to Alison Gordon, co-CEO of 48North.

As part of the partnership, 48North is also participating in the launch of a subsidiary alongside the distributor. Debuting as Fume Labs, this new party will work on the development of marijuana concentrates products.

Ritchot said the firm will use its experience as distributors for the upcoming launch of its own concentrate vaporizers.

Don’t forget to follow us @INN_Cannabis for real-time news updates!

Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.


Cannabis - Will The Fortune 500 Join The Party?

Our Exclusive FREE Report Contains Information You NEED To Know About Cannabis Stock Investing!

Trulieve Cannabis Corp. (“Trulieve” or the “Company”) (CSE: TRUL) (OTCQX: TCNNF), a leading and top-performing cannabis company in the United States today announced the appointment of Marcum LLP (“Marcum”) as its independent registered public accounting firm, effective July 5, 2021 . Marcum was appointed following the resignation of MNP LLP (“MNP”) as the Company’s independent registered public accounting firm effective July 5, 2021 .

“We would like to thank MNP for their guidance and expertise over the past two years and we look forward to working with Marcum as the Company’s new independent registered public accounting firm,” stated Chief Financial Officer, Alex D’Amico.

Keep reading... Show less

Cannabis-infused beverages are not a new product concept, but this summer Canadian drink makers hope consumers will discover them for the first time.

Recreational cannabis beverages have beguiled Canadian producers through different avenues, and many continue to make investments. The promise of these drinks lies in the potential of a more welcoming option for new consumers who may be out of their depth with rolled-up dried flower.

Keep reading... Show less

In the news release, BioHarvest Sciences Inc.‘s First Cannabis Cell Reservoir Produces Ongoing Flowering Stage Cannabinoid Cells For 2 Years, issued 07-Jul-2021 by BioHarvest Sciences Inc. over PR Newswire, we are advised by the company that an incorrect version of the release was issued inadvertently. The complete, corrected release follows:

BioHarvest Sciences Inc.‘s First Cannabis Cell Reservoir Produces Ongoing Flowering Stage Cannabinoid Cells For 2 Years

Keep reading... Show less

Trulieve is the first medical cannabis operator to start planting in the state

Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) (“Trulieve” or “the Company”), a leading and top-performing cannabis company based in the United States announced today that it commenced operations in West Virginia . The Company has begun cultivation at their 100,000 square foot size facility in Huntington, West Virginia .

Keep reading... Show less

– The Company demonstrates the efficiency and reliability of its BioFarming technology by reducing production cycle time for Cannabis from 14-23 weeks to 3-4 weeks.

– The Company’s BioFarming technology will allow the Company to harvest 13-17 cycles per year versus 2-4 cycles per year for conventional Cannabis agriculture.

Keep reading... Show less