Digital marketing agency 420MEDIA and the Marijuana Business Association (MJBA) have joined forces to create a series highlighting entrepreneurs trailblazing the cannabis scene. Each week, we’ll profile a noteworthy business pioneer, and ask each 5 questions. This week’s featured trailblazer is Keith Dolo, President and CEO of Sproutly Canada.
1. Tell us about your Company
Sproutly is a licensed producer of Cannabis in Canada and is positioning itself to develop and bring to market unique consumer products with a focus initially on beverages. We have a purpose-built facility for the production of high grade cannabis based in Ontario as well as a ground-breaking technology that will revolutionize how cannabis is formulated into a wide range of products such as alcohol replacements, functional beverages, consumables, topicals and variety of other products. Sproutly recently acquired, in a transformation acquisition, Infusion Biosciences Canada, the first company to produce a truly water-soluble natural cannabis solution. It’s revolutionary to the entire cannabis industry so we are extremely excited to bring it to market.
2. Why did you choose the cannabis/hemp business?
For me personally, the development and growth expected within the cannabis industry represented an opportunity to be part of a growth initiative that is poised to have an incredibly drastic impact on the global market. It is a rare occasion when the legalization, decriminalization, or mainstream adoption of a product such as cannabis, can have such an impact on so many different facets of life around the world. Most people only consider cannabis as something you smoke and view this a short-term play to allow people the ability legally smoke or consume cannabis recreationally, this is so much greater than that. Cannabis will be broad reaching, have massive implications and impacts on the pharmaceutical industry, the beverage industry, the pet food industry, nutritional food product markets, and beauty products amongst many others. Being part of something this exciting, not only in Canada but globally was the key driver in getting me involved.
With all the large beverage companies looking at or investing into the sector, it provides validity to what we are working on here at Sproutly. The recent announcement of Molson entering the Canadian cannabis scene, or the rumors of Coca-Cola in discussions to enter the industry, allows investors and consumers to start recognizing that Cannabis will have a large impact on existing products from alcohol to tobacco companies. The majors are looking at how to position and hedge themselves moving forward, it’s exciting.
3. What change will your firm address in the industry? Does it address an unmet need?
For Sproutly, we have positioned ourselves to stand out and provide access to what some are calling Cannabis 2.0 the ability to be produce products that bring additional consumers into the cannabis industry that have previously sat on the sidelines. Our cannabis products will be seen in everything from edibles, to beverages, to topicals, to health and wellness products both recreationally and medically. We have the ability to produce two unique products that once launched in the market will stand apart from their competitors, our Bio-Natural Oils and our Infus2O product.
The INFUS2O product is the first truly water-soluble cannabis solution that does not need massive amounts of sugar or chemicals to mask the bad tasting flavor of a chemicals currently used in cannabis beverages and the solubility of INFUS2O has also solved the rapid onset and off-set problems that currently plague cannabis consumables. People will be able to consume our liquid cannabis in any drink, that’ the idea here. Like alcohol that is processed by the body through the blood stream, the effects of our product will be felt in 5 minutes and will last as long as 45-90 minutes, like having an alcoholic beverage. The big advantage over existing oil products in edibles and beverages will be the ability to know the timeframe of the effect, as opposed to eating a product, where the person does not know when they will feel the effect or when it will wear off, it’s the answer people are searching for.
4. What has been the reaction to your product/service/technology?
At this point, it’s been extremely positive. Obviously, with any new disruptive technology, there exists a necessity to prove it out from a scientific standpoint as well as consumer response perspective…we are working hard on both fronts. With now over 200+ consumer tests completed, the response has been consistent, and the feedback of the fast onset / fast offset has been verified. For validating the products within a lab testing environment, we are currently partnering with an analytics laboratory in Washington state and a soon to be announced Canadian partnership in order to finalize the analytical testing methods on our products as well as other cannabis oils that have been diluted into beverage products. More to come on that in the next few months…
5. Are there any upcoming milestones for your company?
We are working extremely hard on a number of projects and milestones that will move the company forward on many fronts. One vertical, in our strategy, is to solidify business joint ventures with existing CPG/beverage companies that have recognized brands. We are working on selecting the right partnerships with companies that are as forward thinking as we are and can move quickly and nimbly to complete formulations and have products ready for launch when the legalization of these products commences in 2019. We feel we will advance the Sproutly brand much quicker with multiple companies than finalizing a relationship with one company. We are also in the process of determining our international expansion plans, specially the European Union and the countries that support legal cannabis within their regulatory framework. The company is very new, receiving it’s licence to cultivate Cannabis from Health Canada in June, going public in July, closing the acquisition of Infusion BioSciences Canada in August, now executing on it’s business plan through the fall months leading up to legalization in Canada. We are excited for what is to come and what we can share with our shareholders and future users of the Sproutly products in development.
Where can readers learn more?
We are working on our US OTCQB listing requirements currently which will drive more marketing activity and traction in the US over the coming months. Readers can always sign up on our website for up to date information at www.Sproutly.ca or simply stay tuned to the cannabis content platforms such as 420MEDIA for more to come.
Social media: https://twitter.com/SproutlyCanada