PALM BEACH, Fla., Feb. 1, 2021 /PRNewswire/ — The cannabis industry has been fighting for legalization for decades. 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 come at a time when cannabis remains federally illegal. As legalization grows, so will the size of the market, production methods, 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. Recent reports are showing that consumers are demanding higher and higher THC levels/percentages. A recent report on recent trends by an industry insider said: “What we’ve seen over the last few years is an increasing demand for high THC strains. While we’re learning more about how the present terpenes in a strain might play a more important role in the effect or ‘high,’ consumers consider their options in a simple way: highest THC for the lowest cost. ” Active Cannabis companies in the markets this week include Tilray, Inc. (NASDAQ: TLRY), Christina Lake Cannabis Corp. (OTCPK: CLCFF) (CSE: CLC), Agrify Corporation (NASDAQ: AGFY), Sundial Growers Inc. (NASDAQ: SNDL), Canopy Growth Corporation (NASDAQ: CGC) (TSX: WEED).
The report continued saying: “Cultivators have to play the game and stay on top of the preferred strains in the market. Or better yet, one step ahead. Tastes and preferences change very frequently in this market, partly fueled by breeders’ constant production of new cannabis strains.” It concluded: “Growers who have access to a breeder or employee who can start a program would be wise to develop and name their own strains. When you’re the only producer of a certain strain, your competitive edge improves.”
Christina Lake Cannabis Corp. (OTCPK: CLCFF) (CSE: CLC.CNQ) BREAKING NEWS: “From Seed to Sale”: Fully Integrated Production Chain can Provide Unique Advantages to Christina Lake Cannabis in Commercializing Distillate Oils – Christina Lake Cannabis Corp. (the “Company” or “CLC” or “Christina Lake Cannabis”), is pleased to announce that one of its cannabis distillate oils has been certified to have a tetrahydrocannabinol (“THC”) concentration of 90.3% based on a certificate of analysis dated January 15, 2021, from a testing laboratory accredited by Health Canada. The Company recently announced its intent to primarily focus on producing cannabis distillate oils by extracting from its 2020 harvest of 32,500 kg / 71,650 lb of biomass grown under natural sunlight. Based on market demand for distillate oils, which typically contain THC concentrations in excess of 90%, the Company believes it is uniquely positioned in the cannabis marketplace to be a competitive supplier of distillate oils. Additionally, the Company plans to blend cannabis-derived terpenes with its distillate oils, a combination that has only recently been requested in the Canadian cannabis industry despite being relatively common in other markets.
As a fully integrated producer of cannabis oils, the Company is favorably situated in the Canadian cannabis industry because of its control over and visibility into the production chain. CLC has a genetic databank consisting of over 100 proprietary cannabis strains and a total inventory of over 600,000 seeds. It began cultivating outdoors last spring at its facility in Christina Lake, British Columbia, with over 950,000 square feet / 88,258 square meters of outdoor grow space. After harvesting and processing the crop, the Company then extracts oils from its dried biomass using its Vitalis R-200 CO2 extraction machine. This year, the Company has successfully produced commercial quantities of market-ready winterized cannabis oil with distinct terpene profiles, which are sought-after for use in recreational products under Cannabis 2.0 for adult consumers ( e.g., vapes, edibles, topicals) as well as in medicinal products.
In CLC’s January 13, 2021 press release, it was announced that the Company was beginning to produce ultra-high potency cannabis distillate oils, samples of which are presently undergoing independent third-party assessment of THC levels and other metrics. Distillate oils are not commonly used as a standalone product but rather as an ingredient in products that could be enhanced through the addition of concentrated THC ( e.g., food and beverage, personal care, cosmetics). Although the ability to produce cannabis distillate oils is not unique in and of itself, the Company benefits from several advantages it has as a fully integrated producer, allowing for lower risk, above-average profit margins, and greater supervision.
Cost of Raw Materials: Cultivating cannabis outdoors naturally using sunlight allows for substantially lower costs than growing in greenhouses or indoors. Given the ratio of dried biomass needed for each milliliter of cannabis oil, even small differences in the cost of biomass can significantly affect the profitability of a producer of cannabis extracts.
Robust Supply: Because the exact yield rate of distillate oil from dried biomass is not always known, producers of cannabis extracts often risk depleting their supply if yields are lower than expected. As the Company’s inaugural harvest garnered 32,500 kg / 71,650 lb of biomass, CLC possesses a sufficient supply of raw material to handle this risk without a significant profitability effect.
Extraction Costs: Extraction is a function that is typically outsourced by cannabis producers, which tends to be more costly than extracting in-house. The Company owns its Vitalis R-200 CO2 extraction machine and all ancillary equipment and has extraction personnel on staff. As such, the Company’s relatively low costs of extraction could prove advantageous in reducing CLC’s net cost of producing cannabis distillate oils.
In-House Visibility: Another disadvantage of outsourcing cannabis extraction to a third party is a lack of ongoing visibility into the processes. During each step of the way, observations made from initial extraction to final distillation are crucial to ensuring a consistent and high-quality finished product, especially when controlling for operational variables and unique properties of specific strains. CLC’s extraction workflows are designed to gather insights in great depth, which can be analyzed collaboratively to make cultivation and business decisions based on observations from empirical data collected during extraction.
Joel Dumaresq, Chief Executive Officer and a director of the Company commented, “Part of our vision with Christina Lake Cannabis was not just to maximize the advantages that come from growing outdoors, but also integrating as much as we can into our in-house operations so that we can do things other licensed producers cannot necessarily do. There are many moving parts to any agricultural product ranging from the seed to the setting. It is grown to techniques for cultivation, harvesting, and post-harvest activities such as extraction. We have sought to bring all of this in-house, enabling us to reduce costs and oversee every step to ensure consistent quality. As we work towards making our first sales of cannabis extracts, it is becoming clear that we have done many things right, and we are confident that market reception could reflect this and allow us to further optimize our strategies for our second year of growing and beyond.” To read this and more news for Christina Lake Cannabis Corp., please visit https://www.financialnewsmedia.com/news-clc/
Other recent developments in the markets include:
Tilray, Inc. (NASDAQ: TLRY), a global pioneer in cannabis production, research, cultivation, and distribution, recently announced that the French National Agency had selected it for the Safety of Medicines and Health Products (ANSM) to supply Good Manufacturing Processes (GMP) certified medical cannabis products for experimentation in France. Tilray will supply GMP-produced medical cannabis products to serve patients in need for the French experiment’s duration (18-24 months), due to begin in the first quarter of 2021.
Tilray products will be administered to qualifying patients in the French experiment, for whom existing treatments do not provide sufficient relief from their symptoms and therapeutic indications. Tilray has received the necessary regulatory approvals to participate in the ANSM experimentation in France and will export medical cannabis products from its GMP-certified facility in Cantanhede,
Agrify Corporation (NASDAQ: AGFY), a developer of highly advanced and proprietary precision hardware and software grow solutions for the indoor agriculture marketplace, recently announced the pricing of its upsized initial public offering of 5,400,000 shares of common stock at a price of $10.00 per share for total gross proceeds of $54 million, before deducting underwriting discounts and commissions and offering expenses payable by Agrify. The shares of common stock began trading on the Nasdaq Capital Market under the symbol “AGFY” on January 28, 2021.
Maxim Group LLC and Roth Capital Partners are acting as joint book-running managers for the offering. Agrify has granted the underwriters a 45-day option to purchase up to an additional 810,000 shares of common stock to cover over-allotments if any. The offering is expected to close on February 1, 2021, subject to customary closing conditions.
Sundial Growers Inc. (NASDAQ: SNDL) has recently launched high-quality cannabis derivative products under the Top Leaf brand in response to rising consumer demands for solventless cannabis extracts. This most recent launch is consistent with Sundial’s focus on premium inhalables, following branded retail offerings of flower, pre-roll, and vape cartridges.
“We made a strategic decision to produce these premium products based on demand for solventless, flavorful, pure, and potent cannabis concentrates from a growing group of consumers,” said Andrew Stordeur, President and Chief Operating Officer of Sundial. “Our control of the entire manufacturing process from cultivation to extraction enables us to deliver premium quality products consistently. Adding bubble hash and other advanced concentrates to our product portfolio will expand Sundial’s share of this rapidly expanding market segment.”
Canopy Growth Corporation (NASDAQ: CGC) (TSX: WEED), a world-leading diversified cannabis, hemp, and vaporization device company, recently announced the launch of Martha Stewart CBD for Pet – a new line of scientifically-backed CBD wellness solutions for canines developed by Martha Stewart with her own beloved dogs in mind.
The Martha Stewart CBD for Pet product portfolio includes oil drops and soft-baked chews in three gourmet flavor combinations and formulas – Wellness, Calm, and Mobility – designed to support pet mental and physical well-being, reduce the effects of everyday stress, and maintain joint health and mobility by harnessing the power of CBD and other ingredients. The product packaging is inspired by Stewart’s own Chow Chows and French Bulldogs.
“My dogs are not only my companions, but they are part of my family, and I prioritize their emotional and physical well-being as I do my own,” said Martha Stewart. “Just as CBD can support human wellness, it’s been shown to improve the quality of life for pets as well. With the help of the scientists and veterinarians at Canopy Animal Health, I’ve created CBD oil drops and savory soft-baked chews designed to support the health of dogs of all ages, sizes, and breeds in delicious gourmet flavors that your canines won’t be able to resist.”
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