With each passing year, the cannabis industry matures and continues to grow exponentially. The market value of the cannabis industry is projected by all industry reports to continue strong growth for several years to come. These projections comes at a time when cannabis remains federally illegal. As legalization grows, so will the size of the market, but also in the methods of production and cannabis consumer behavior. Approximately 36 states and 4 territories (District of Columbia, Guam, Puerto Rico and U.S. Virgin Islands) have enacted measures in the medical marijuana industry and recreational can’t be far behind… consumer demand is playing its part in shaping the successful product lines and brands.
Ikänik Farms, Inc. (CSE: IKNK.U.CNQ) BREAKING NEWS: Ikänik Farms Registers and Commercializes 16 Additional Cultivares From its Colombian Phytosanitary Seed Bank – Ikänik Farms, Inc. (“Ikänik Farms” or the “Company”) is pleased to announce that its wholly owned, Colombian subsidiary Pideka SAS (“Pideka”), has completed the registration and commercialization process of six cannabis-based cosmetic products through the National Institute of Drug and Food Surveillance (INVIMA), the governing body in Colombia responsible new product registrations.
“We are excited to open the door to multiple countries concurrent with our product registrations and look forward to better serving the Latin American markets in the near future.” said Brian Baca, CEO of Ikänik Farms.
The product suite is comprised of cosmetic products and offers skin care benefits, using the unique beneficial properties of cannabis derived oil. All products are designed with plant-derived oils and cultivated under strict quality and control standards, fortified with organic and natural ingredients to maximize the effect of the specific product and its purpose.
The products are medically authorized in three additional Latin American countries through the Colombian registration, opening the door for future product recognition and registration in the participating member countries of the Andean Pact, which includes Bolivia, Colombia, Ecuador and Peru. The Andean Pact accelerates the Company’s ability to open multiple markets through a singular, unified registration.
“We are proud to have completed this major milestone and have positioned ourselves to be a leader and cornerstone of product quality within the global marketplace, with an initial emphasis in Latin America and Europe.” said Borja Sanz de Madrid, President of Ikänik Farms International, Inc. Read More Details about Ikänik Farms by visiting: https://www.ikanikfarms.com/ and https://mugglehead.com/ikanik-farms-establishes-colombia-mexico-thc-export-will-list-to-cse/
Other recent developments in the cannabis industry include:
Organigram Holdings Inc. (TSX: OGI) (NASDAQ: OGI), the parent company of Organigram Inc. a leading producer of cannabis, recently announced it has acquired all of the issued and outstanding shares of The Edibles & Infusions Corporation (“EIC”) (the “EIC Acquisition”) for consideration of $22.0 million, plus up to an additional $13.0 million in shares (the “Milestone Consideration”) payable upon the EIC business achieving certain earnout milestones (the “Milestones”). The EIC Acquisition further broadens Organigram’s continuum of product offerings and provides an operational footprint in Western Canada.
EIC was co-founded by AgraFlora Organics International Inc. (CSE: AGRA) and James Fletcher, who is the Chief Executive Officer of Cavalier Candies (“Cavalier”) – one of Canada’s oldest confectionery companies. EIC constructed a purpose-built, highly-automated, 51,000-square-foot manufacturing facility located in Winnipeg, Manitoba. The facility employs state-of-the-art equipment designed to produce highly customizable, precise, and scalable cannabis-infused products, including edibles. EIC currently holds a Research License and a Standard Processing License issued under the Cannabis Act and regulations; it is in the process in of completing its application to add the activity of sale of Cannabis 2.0 products to its Standard Processing License. Until EIC receives its Sales License, it is capable of manufacturing products in bulk for further processing, review and sale by Organigram or third-party licensed producers, for which it may provide white-label services.
Green Thumb Industries Inc. (CSE: GTII) (OTCQX: GTBIF), a leading national cannabis consumer packaged goods company and owner of Rise™ Dispensaries, recently announced the launch of Cann, a leading cannabis-infused beverage brand, in Illinois. Green Thumb and Cann previously announced a partnership to bring the beverage brand to Illinois and New Jersey with plans to expand to additional markets.
Cann is now available at all Rise™ Illinois dispensary locations (excluding Mundelein), as well at Ascend, Moca and MedMen retail stores. Rise Joliet (Colorado), Rise Lake in the Hills and Rise Niles will also host a Cann pop-up store through August with an on-site Cann brand ambassador to answer questions about the newly available cannabis social tonics.
Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF), a leading and top-performing cannabis company in the United States and the largest cannabis company in Florida, recently announced that it acquired Solevo Wellness West Virginia LLC (“Solevo”) and its three West Virginiadispensary permits for $650,000. Solevo was awarded two permits in Morgantownand one in Parkersburg in January 2021 as part of the West Virginia application process.
“This acquisition enables Trulieve to broaden and solidify our position in the newly created West Virginia market. Solevo was granted three dispensaries as part of the application process entered by the Company before becoming part of the Trulieve family. Adding Solevo to our production and dispensary permits, as well as our recently announced definitive agreement to acquire Mountaineer Holdings and its cultivation and dispensary permits, will create a fully vertical presence in the state with nine dispensaries,” said Kim Rivers, CEO of Trulieve. “We look forward to providing the highest level of cannabis products and customer experience through authentic and reciprocal relationships to West Virginiapatients.”
MedMen Enterprises Inc. (CSE: MMEN) (OTCQB: MMNFF) recently announced the opening of its Emeryville location in California as it continues to expand its market leading presence in the world’s largest cannabis market. MedMen Emeryville is located at 3996 San Pablo Ave., occupying 2,284 square feet of retail space.
MedMen’s newest location will offer a robust selection of high-quality products including house brand MedMen Red. The MedMen Red line curates a rotational selection of high quality, accessible cannabis for all. Our premium flower strains include classics such as Jack Herer, and Pineapple Express, as well as exotics like Runtz and Lemon Cherry Gelato. Also offered in the collection are disposable vapes, cartridges, pre rolls and gummies.