MJNews Network

"The Voice of Legal Cannabis Since 2013"

You are here: Home / Archives for Business

ASTM Call for Presentations Issued for 2023 Cannabis and Hemp Industry Events

by Leave a Comment

PENNSYLVANIA: ASTM International has issued calls for presentations for two upcoming events organized by its cannabis committee (D37). 

The first of these, the Workshop on the Analytical Methods for Hemp Products as Animal Feed; How to Overcome Gaps in Matrices, Detectors and Quantifiable Limits for Regulators and Laboratories, will be held virtually from April 24 – 25, 2023.

The purpose of the workshop is to bring analytical chemists and regulators together to understand what analytes and levels of quantification are currently achievable for multiple matrices. Hemp as an animal feed is highly desirable by hemp producers and the pet and livestock industries. However, there are a limited number of methods approved to quantify trace amounts of cannabinoids in grain products. New methods and standards are needed as well as methods developed that can analyze the trace amounts of cannabinoids that may be transferred into animal tissues and animal by-products intended for human consumption, like meat, milk, and eggs.

For more on the workshop, including technical chair information, visit https://go.astm.org/animal-feed-workshop.

The second of these events, the Symposium on Contaminants in the Cannabis and Hemp Industry and Their Impact on Consumer Safety will be held virtually Oct. 10 – 12, 2023.

This symposium will provide a forum for evaluating the current evidence and gaps regarding the presence and measurements of contaminants that pose a risk to consumer health and safety in cannabis and hemp products with a focus on evaluating the sources of contamination (including cultivation, plant uptake, extraction, processing, manufacturing, packaging, and delivery, etc.) and how they can be mitigated.

For more on the symposium, including symposium chair information visit https://go.astm.org/D37-contaminants-symposium.

To participate in the workshop or the symposium, authors must submit a 2 to 3-page extended abstract using an appropriate template available from the Abstract Submission Portal. The deadline for the April workshop is Feb. 28, 2023, and for the October symposium, it is March 31, 2023. To ensure your abstract was received into the ASTM database, please email symposia@astm.org and let us know that you have submitted an abstract.

About ASTM International

Committed to serving global societal needs, ASTM International positively impacts public health and safety, consumer confidence, and overall quality of life. We integrate consensus standards – developed with our international membership of volunteer technical experts – and innovate services to improve lives… Helping our world work better.

Symposia Operations Contact: Tammy Schane, tel+1.610.832.9522, symposia@astm.org

POSaBIT to Acquire MJ Platform, Leaf Data Systems and Ample Organics for US$4 Million Adding 350+ Merchants and More than US$2 Billion in GMV

by Leave a Comment

POSaBIT secures up to $11 million in debt and equity financing

Conference Call Monday at 4:30 p.m. ET

WASHINGTON: POSaBIT Systems Corporation, a leading provider of payments infrastructure in the cannabis industry, today announced it has signed a definitive agreement to acquire MJ Platform, Leaf Data Systems and Ample Organics from Akerna Corp. for US$4 million in an all-cash transaction.

Strategic Rationale

  • The Acquired Companies are expected to generate approximately US$11.0 million in revenue and US$6.8 million in gross profit during the 12 months ended December 31, 2022 on a standalone basis1
  • Nearly doubles the number of merchant locations POSaBIT serves
  • Significantly expands payments pipeline with the addition of 350+ merchant locations generating approximately US$2.0 billion of annual Gross Merchandise Value (“GMV”)2
  • Adds new revenue stream from state ‘seed-to-sale’ compliance contracts with the states of Pennsylvania and Utah
  • Establishes POSaBIT as a leading, vertically integrated solutions provider with the addition of cultivation, manufacturing and distribution capabilities
  • Expands POSaBIT’s operations into Canada with the addition of Ample Organics
  • Adds experienced industry professionals

“At a purchase price of 0.4 times 2022 estimated revenue, we are acquiring high-quality software assets at an attractive valuation,” said Ryan Hamlin, CEO and Co-founder of POSaBIT. “This acquisition will increase merchant locations that we serve to nearly 900 and create a meaningful opportunity to accelerate adoption of our fully compliant PIN debit payments solution, an important driver of future revenue growth and sustainable positive EBITDA. Importantly, this transaction launches us to the top five POS providers in terms of market share and GMV. It adds valuable assets that align directly with our stated goals of adding new merchants, increasing digital payment penetration and introducing new offerings to better serve our merchants. We see a significant opportunity to further monetize the assets we are acquiring while addressing key pain points for our merchant partners and their customers.”

Hamlin concluded, “Despite the challenges facing our industry, our business is growing at a steady rate. We are adding new team members and our pipeline of both organic and strategic opportunities is expanding. We welcome the talented professionals that will help convert this pipeline of opportunities and build upon our category leadership. Our strong balance sheet and ready access to capital enabled us to execute this strategic transaction quickly. We expect to close in the second quarter of 2023 at which time we plan to roll out a unified product suite to current and future merchants.”

Transaction Financial Details

  • US$4.0 million in cash to be paid at the closing of the Acquisition
  • The Acquisition will be funded with a portion of up to US$11 million of committed capital comprised of US$3.0 million of equity and up to US$8 million of debt
  • The debt portion of the financing has a three-year term that bears interest at a rate of 10% in years one and two and 12% in year three.
  • The equity portion of the financing is comprised of 4,533,333 units (the “Units”), with each Unit being comprised of one common share of the Company (a “Common Share”) and 0.95 of one Common Share purchase warrant (each whole warrant, a “Warrant”).

For more details regarding the acquisition and financing, please join the Company’s conference call at 4:30 pm ET on Monday, January 30. An investor presentation to accompany the conference call is available at: https://posabit.com

The Acquisition is expected to close in the second quarter of calendar 2023, subject to the satisfaction (or, where applicable, waiver) of certain closing conditions, including the receipt of certain regulatory approvals and the receipt of shareholder approval of Akerna Corp.

Additionally, the Company announced that it has secured up to $11 million in debt and equity financing. In connection with the equity financing, the Company announced the closing of a non-brokered private placement of 4,533,333 Units to Perga Capital Partners, LP (“Perga”) at a subscription price of C$0.90 per Unit for aggregate gross proceeds of approximately US$3 million. Each Unit consists of one Common Share and 0.95 of one Warrant. Each Warrant is exercisable for one Common Share at C$1.25 per Common Share for a period of 36 months following closing. The Common Shares and Warrants issued in connection with the equity financing are subject to a hold period of four months and one day in accordance with applicable securities laws.

In connection with the debt financing, the Company announced the entering into of a commitment letter (the “Commitment Letter”) with Perga for an up to US$8 million unsecured credit facility with an initial 3-year term, at an initial interest rate of 10% per annum for the first two years and a final interest rate of 12% per annum for the last year. The repayment of the loan would not be subject to any pre-payment penalty. Pursuant to the Commitment Letter, the Company may, subject to certain customary conditions, at its sole discretion, draw at any time and only in a single draw, an amount up to US$8 million. Concurrently with any draw, the Company shall issue to Perga one Common Share purchase warrant (a “Loan Warrant”) for each US$10 principal amount borrowed. Each Loan Warrant will be exercisable for one Common Share at C$1.50 per Common Share for a period of 36 months following the date of issuance. The transactions contemplated in the Commitment Letter are subject to the negotiation and execution of mutually agreeable definitive loan documents and the receipt of all applicable regulatory and stock exchange approvals. There can be no certainty that the debt financing will be completed on the terms set forth in the Commitment Letter or at all.

The Company will host a conference call Monday at 4:30 p.m. ET to discuss these announcements.

Conference Call Information

Date:

 January 30, 2023

Time:

 4:30pm Eastern Time

Toll Free:

 877-545-0523

International:

 973-528-0016

Participant Access Code:

 209822

Live Webcast:

 https://www.webcaster4.com/Webcast/Page/2708/47367

Conference Call Replay Information:

The replay will be available approximately one hour after the completion of the live event.

Toll Free:

 877-481-4010

International:

 919-882-2331

Replay Passcode:

 47367

Replay Webcast:

 https://www.webcaster4.com/Webcast/Page/2708/47367

Related Party Disclosure

Alex Sharp is an insider of the Company and exercises control or direction over Perga. Pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”), the debt and equity financings are each a “related party transaction” by virtue of such insider participation. The Company is exempt from the formal valuation requirement of MI 61-101 in connection with the insider participation in reliance on section 5.5(b) of MI 61-101, as no securities of the Company are listed or quoted for trading on the Toronto Stock Exchange, the New York Stock Exchange, the American Stock Exchange, the NASDAQ stock market or any other stock exchange outside of Canada and the United States. Additionally, the Company is exempt from obtaining minority shareholder approval in connection with the insider participation in reliance on section 5.7(1)(a) of MI 61-101 as the aggregate value of the insider participation does not exceed 25% of the market capitalization of the Company. The Company did not file a material change report in respect of the related party transaction at least 21 days before the closing of the equity financing, which the Company deems reasonable in the circumstances in order to complete the equity financing in an expeditious manner.

Europe CBD Skincare Market Report 2022: Investment in R&D Coupled with Demand of Skin Care Products in French Market Bolsters Industry – ResearchAndMarkets.com

by

DUBLIN–()–The “Europe CBD Skincare Market: Market Size, Forecast, Insights, and Competitive Landscape” report has been added to ResearchAndMarkets.com’s offering.

The Europe CBD skin care market is expected to grow at a CAGR of around 5.5% during 2023-2030. This report on Europe CBD skin care market report provides holistic understanding of the market along with market sizing, forecast, drivers, challenges, and competitive landscape.

The report presents a clear picture of the Europe CBD skin care market by segmenting the market based on source, type, distribution channel, and country. Also, detailed profiles of companies operating in the Europe CBD skin care market are provided in this report. We believe that this report will aid the professionals and industry stakeholders in making informed decision.

Market Drivers

  • Rising awareness Regarding Healing Nature
  • Investment in R&D Coupled with Demand of Skin Care Products in French Market
  • Players like Khiron Life Sciences Corp in Spain introducing New Products in the Market

Market Challenges

  • Can Cause Skin Elongation, Tingling and Stripping
  • Complexity with Rules and Regulations Set by Government

Historical & Forecast Period

  • Base Year: 2022
  • Historical Period: 2018-2022
  • Forecast Period: 2023-2030

Market by Source

  • Hemp
  • Marijuana

Market by Type

  • Oil
  • Creams & Moisturizers
  • Masks & Serums
  • Cleansers
  • Others

Market by Distribution Channel

  • Online
  • Offline

Market by Country

  • Germany
  • Italy
  • United Kingdom
  • France
  • Russia
  • Spain
  • Others

Key Topics Covered:

1. Preface

2. Key Insights

3. Europe CBD Skincare Market

4. Europe CBD Skincare Market Analysis

5. Europe CBD Skincare Market by Source

6. Europe CBD Skincare Market by Type

7. Europe CBD Skincare Market by Distribution Channel

8. Europe CBD Skincare Market by Country

9. SWOT Analysis

10. Porter’s Five Forces

11. Market Value Chain Analysis

12. Competitive Landscape

A selection of companies mentioned in this report includes

  • Isodiol International Inc.
  • Kiehl’s LLC
  • Medical Marijuana Inc
  • Elixinol Global Limited
  • Cannuka LLC
  • Cronos Group Inc
  • Fab CBD
  • Joy Organics
  • Kapu Maku LLC (Populum)
  • Khiron Life Sciences Corp
  • Kiehl’s LLC (Acquired by L’Oreal)
  • Vertlybalm
  • Medical Marijuana Inc
  • The CBD Skincare Company
  • Endoca BV

For more information about this report visit https://www.researchandmarkets.com/r/flz05g-cbd?w=4

About ResearchAndMarkets.com

ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Ohio Board of Pharmacy Publishes Updated Patient & Caregiver Numbers for December 2022

by Leave a Comment

OHIO:  The State of Ohio Board of Pharmacy published updated patient & caregiver numbers for December 2022.
These numbers include:
  • 642,538 Recommendations
  • 330,280 Registered patients
    • 20,221 Patients with Veteran Status
    • 21,334 Patients with Indigent Status
    • 1,246 Patients with a Terminal Diagnosis

    159,057 Patients with both an active registration and an active recommendation

  • 308,217 Unique patients who purchased medical marijuana (as reported to OARRS by licensed dispensaries)
  • 32,027 Registered Caregivers

For the full list of program numbers, please visit the Program Update page.

Curaleaf Announces Closure of Operations in California, Colorado and Oregon

by Leave a Comment

Proactive Exit Will Generate Additional Cash and Improve Margins in Non-SAFE Banking Environment

2023 Free Cash Flow Expected to Exceed $125 Million

 

NEW YORK: Curaleaf Holdings,, a leading international provider of consumer cannabis products, today announced the proactive closure of the majority of its operations in California, Colorado and Oregon, beginning this month, as part of its continued effort to streamline its business. Additionally, in an effort to further optimize operations and reduce costs, the Company will consolidate cultivation and processing operations in Massachusetts to a single facility in Webster, resulting in the closure of its Amesbury facility. Curaleaf expects to record non-cash restructuring and impairment charges that it will detail on its fourth quarter earnings call in March. Curaleaf New Jersey Launches State’s First and Only Line of Strain Specific Pure Cannabis Vape ...

Concurrent with these actions, the Company has reduced its payroll by 10% which, when coupled with other cost savings initiatives, it expects to realize $60M in gross run-rate expense savings in 2023, exceeding its initial savings target by 50%.

The Company will exit production and cultivation facilities in California, Colorado and Oregon. While these states have contributed to the growth of Select and other Curaleaf wholesale brands, the Company acknowledges the difficult operating environment in these investment states and will instead place a laser focus on cash generation in its core revenue-driving markets moving forward.

Curaleaf began aggressive cost-cutting measures in these states in 2022 through facility closures and reductions in workforce. These adjustments were necessary for the future success and profitability of the business and were made as a result of recent legislative decisions, price compression, and lack of enforcement of the illicit market. For context, these markets contributed less than $50M in revenue to Curaleaf last year. Curaleaf expects these market closures will be immediately accretive to its adjusted EBITDA margins and positions it for robust positive free cash flow generation in excess of $125M this year as management executes on its strategic priorities.

“Today’s announcement reflects a decision that we did not arrive at lightly, and one that makes sense for our business at this time,” said CEO, Matt Darin. “We have a fiduciary responsibility to our shareholders to improve margins and fortify our balance sheet by controlling what we can in our business. We believe these states will represent opportunities in the future, but the current price compression caused by a lack of meaningful enforcement of the illicit market prevent us from generating an acceptable return on our investments. We are confident that these moves, made to improve our cashflow and margins, are the right ones to bolster the future success and profitability of Curaleaf. Optimizing the existing portfolio in this way allows us to enter 2023 in a position of strength and further enhances our visibility around continued margin expansion and highly profitable growth. We remain excited about our future growth prospects both domestically and internationally, and now can devote greater resources to tangible growth opportunities in emerging markets such as Europe.”

Global Cellulose Fibers Market Report 2022 to 2027: Industry Trends, Share, Size, Growth, Opportunity and Forecasts – ResearchAndMarkets.com

by

DUBLIN–()–The “Cellulose Fibers Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” report has been added to ResearchAndMarkets.com’s offering.

The global cellulose fibers market size reached US$ 27.6 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 45.6 Billion by 2027, exhibiting a CAGR of 8.73% during 2021-2027.

Companies Mentioned

  • CFF GmbH & Co. KG
  • China Bambro Textile (Group) Co. Ltd.
  • Daicel Corporation
  • Eastman Chemical Company
  • Fulida Group Holdings Co. Ltd.
  • Grasim Industries Ltd.
  • Kelheim Fibres
  • Lenzing AG
  • Sateri Holdings Ltd.
  • Shandong Helon Textiles Sci. & Tech. Co. Ltd.
  • Tangshan Sanyou Xingda Chemical Fiber Co. Ltd.
  • Zhejiang Fulida Co. Ltd.

Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic end use industries. These insights are included in the report as a major market contributor.

Cellulose fiber refers to a natural or artificial fiber that is manufactured using wood pulp. It can also be produced using esters of leaves, wood and barks of the plants and other plant-based materials. The other natural fibers are obtained from cotton, jute, flax, hemp and ramie, whereas artificial fibers majorly include lyocell, viscose and modal. These fibers are extremely light-weight and exhibit high moisture absorbency and strength, owing to which they are majorly used for manufacturing fabrics, home textiles, biocomposites, polymer composites and chemical filters.

Significant growth in the textile industry across the globe is one of the key factors driving the growth of the market. Furthermore, increasing environmental consciousness has facilitated the demand for biodegradable fabrics, which is acting as another major growth-inducing factor.

Cellulose fibers are primarily manufactured using wood pulp, which is skin-friendly, biodegradable and environment-friendly in nature, owing to which they are widely adopted in the textile industry.

Additionally, increasing product utilization for manufacturing industrial textiles, such as curtains and upholstery, along with advancements, such as the utilization of cellulose nanofibrils (CNFs) and cellulose nanocrystals (CNCs) to enhance the mechanical properties, biocompatibility and biodegradability of cellulose fibers, is creating a positive impact on the market growth.

Other factors, including the implementation of favorable government policies promoting the use of plant-based sources in place of petrochemicals, coupled with expanding industrial applications, easy availability of raw materials, and cost-effectiveness of these fibers, are projected to drive the market further.

Key Market Segmentation:

The publisher provides an analysis of the key trends in each sub-segment of The global cellulose fibers market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on fiber type and application.

Breakup by Fiber Type:

  • Natural Cellulose Fibers
  • Cotton Fibers
  • Jute Fibers
  • Wood Fibers
  • Others
  • Man-made Cellulose Fibers
  • Viscose Fibers
  • Lyocell Fibers
  • Modal Fibers
  • Others

Breakup by Application:

  • Apparels
  • Home Textiles
  • Medical and Hygiene
  • Others

Breakup by Region:

  • North America
  • United States
  • Canada
  • Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
  • Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
  • Latin America
  • Brazil
  • Mexico
  • Others
  • Middle East and Africa

Key Questions Answered in This Report

1. What is the expected growth rate of the global cellulose fibers market during 2022-2027?

2. What are the key factors driving the global cellulose fibers market?

3. What has been the impact of COVID-19 on the global cellulose fibers market?

4. What is the breakup of the global cellulose fibers market based on the fibre type?

5. What is the breakup of the global cellulose fibers market based on the application?

6. What are the key regions in the global cellulose fibers market?

7. Who are the key players/companies in the global cellulose fibers market?

For more information about this report visit https://www.researchandmarkets.com/r/28vp5c-fibers?w=4

Michigan: Social Equity Education Session Featuring Legacy Community Partners

by Leave a Comment

Event Date: February 23, 2023 10:00 AM

Join Inglish Reed-Jones and Evan Daugherty from LCP as they discuss how they connect businesses and community organizations. They will present on three main pillars:

  • Authentic community engagement – how to elicit genuine and ample feedback from the community.
  • Meeting the need – identifying the specific needs of a community/neighborhood and putting together the resources to meet the need.
  • Stake in the game – ensuring that the community is earnestly invested in your success and feels included in your infrastructure.

Inglish and Evan will show how these pillars are designed to produce significant results.

Date: Thursday, February 23, 2023
Time: 10:00 AM Eastern Time
Place: Zoom Webinar
Link: https://us06web.zoom.us/j/84291536455?pwd=bjFxWi9PL1g4cm9ZS01lVTJ3MEVoZz09
Passcode: 149406
Telephone:
USA 215 446 3656 US Toll
USA 888 363 4734 US Toll-free
Conference code: 3392693

The presentation will be followed by a question-and-answer session, which will allow the attendees to ask questions that may be answered in real-time.

Previous CRA Education Sessions are available on the CRA website; click here to be directed to the CRA video library.

If you or your company would like to participate in a future CRA Education Session, please email us at CRA-SocialEquity@Michigan.gov.

Switzerland Cannabis Markets Report 2023: Comprehensive Guide to the Size and Shape of this Emerging Market – Forecasts to 2027 – ResearchAndMarkets.com

by

DUBLIN–()–The “Cannabis in Switzerland” report has been added to ResearchAndMarkets.com’s offering.

The Cannabis in Switzerland market report offers a comprehensive guide to the size and shape of this emerging market opportunity at a national level. It provides the latest retail sales data (historic date range), allowing you to identify the key cannabinoid categories driving growth.

Following the current liberalisation of medical cannabis, the trend towards liberalisation of adult-use cannabis is also expected over the forecast period.

The consumption of products bought on the black market carries the risk of containing dangerous harmful substances or synthetic cannabinoids. For this reason, Swiss authorities will likely seek a compromise between prohibition and absolute legalisation of cannabis.

It outlines the regulatory, cultural and commercial context and offers strategic analysis of key factors influencing the market – legislative developments both current and future, economic/lifestyle influences, illicit consumption, product innovation, distribution and pricing trends. Forecasts to 2027 illustrate how the market is set to expand and change.

Product coverage: Adult-Use Cannabis, CBD, Medical Cannabis.

Data coverage: Market sizes (historic and forecasts), company shares, brand shares and distribution data.

Why buy this report?

  • Get a detailed picture of the Cannabis market;
  • Pinpoint growth sectors and identify factors driving change;
  • Understand the competitive environment, the market’s major players and leading brands;
  • Use five-year forecasts to assess how the market is predicted to develop.

Key Topics Covered:

CANNABIS IN SWITZERLAND

EXECUTIVE SUMMARY

CANNABIS BACKGROUND

COUNTRY INSIGHT

CANNABIS LEGISLATION

CANNABIS DISTRIBUTION

CANNABIS TAXATION

CANNABIS PRODUCTION

ILLICIT CANNABIS MARKET

MARKET INDICATORS

  • Cannabis User Population by Legal vs Illicit 2019-2022

MARKET DATA

  • Sales of Cannabis by Category: Value 2019-2022
  • Sales of Cannabis by Category: % Value Growth 2019-2022
  • Sales of Cannabis by Legal vs Illicit 2019-2022
  • Distribution of Cannabis by Format: % Value 2019-2022
  • Distribution of Cannabis by Format and Category: % Value 2022
  • Forecast Sales of Cannabis by Category: Value 2022-2027
  • Forecast Sales of Cannabis by Category: % Value Growth 2022-2027
  • Forecast Sales of Cannabis by Legal vs Illicit 2022-2027

MEDICAL CANNABIS

  • Market Sizes
  • Cannabinoids
  • Brands
  • Distribution

CATEGORY DATA

  • Sales of Medical Cannabis by Category: Volume 2019-2022
  • Sales of Medical Cannabis by Category: Value 2019-2022
  • Sales of Medical Cannabis by Category: % Volume Growth 2019-2022
  • Sales of Medical Cannabis by Category: % Value Growth 2019-2022
  • Sales of Medical Cannabis by CBD vs THC content: % Value 2019-2022
  • Distribution of Medical Cannabis by Format: % Value 2019-2022
  • Forecast Sales of Medical Cannabis by Category: Volume 2022-2027
  • Forecast Sales of Medical Cannabis by Category: Value 2022-2027
  • Forecast Sales of Medical Cannabis by Category: % Volume Growth 2022-2027
  • Forecast Sales of Medical Cannabis by Category: % Value Growth 2022-2027

ADULT-USE CANNABIS

  • Forecast Sales of Adult-Use Cannabis by Category: Volume 2022-2027
  • Forecast Sales of Adult-Use Cannabis by Category: Value 2022-2027
  • Forecast Sales of Adult-Use Cannabis by Category: % Volume Growth 2022-2027
  • Forecast Sales of Adult-Use Cannabis by Category: % Value Growth 2022-2027

CBD

  • Sales of CBD by Category: Volume 2019-2022
  • Sales of CBD by Category: Value 2019-2022
  • Sales of CBD by Category: % Volume Growth 2019-2022
  • Sales of CBD by Category: % Value Growth 2019-2022
  • Distribution of CBD by Format: % Value 2019-2022
  • Forecast Sales of CBD by Category: Volume 2022-2027
  • Forecast Sales of CBD by Category: Value 2022-2027
  • Forecast Sales of CBD by Category: % Volume Growth 2022-2027
  • Forecast Sales of CBD by Category: % Value Growth 2022-2027

For more information about this report visit https://www.researchandmarkets.com/r/ezqqm-in?w=4

About ResearchAndMarkets.com

ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Global Cannabis Brand Cookies Celebrates Opening of Grand Rapids Flagship Dispensary With Michigan’s NOXX

by

GRAND RAPIDS, Mich.–()–International cannabis lifestyle brand Cookies announced the grand opening of its flagship Grand Rapids dispensary on Saturday, January 28, 2023 in partnership with local cannabis retailer NOXX. Located at 330 Ann St. NW, the dispensary will host a ribbon cutting before officially opening to the public from 9 a.m. to 9 p.m.

Cookies, founded in 2010 by Bay-area rapper and entrepreneur Berner, has over 57 locations around the world. As the only Cookies storefront in Grand Rapids, the 3,000-square-foot dispensary will house the region’s largest selection of Cookies’ proprietary genetics alongside world-class products from other highly acclaimed brands. The dispensary’s interior will focus on key characteristics from the local Grand Rapids community, showcasing one-of-a-kind murals, artwork and local reserve apparel and accessories, all true to the classic and iconic Cookies flagship store design.

”Witnessing the vision we had for the West Michigan community come to life with this new dispensary has been special,” said Berner, Co-Founder and CEO of Cookies. “From classic cuts to our newest Cookies strains, this will be the hub for the best selection of cannabis in West Michigan, and I look forward to paying a visit to the store soon.”

On January 28, the community is invited to celebrate the new dispensary with a grand opening event where the first 500 people in line for the opening will receive a free eighth of NOXX cannabis flower when they spend a minimum of $25. Other activations include a heated outdoor lounge and music by DJ Composition, with local Grand Rapids vendors onsite throughout the morning and afternoon giving away free food from Patty Matters food truck, coffee from Morning Ritual, body art by Grassroots Henna and Design, caricatures from David Wodarek Caricaturists, and polaroid photography from Celestreeal Endeavors, while supplies last.

Powered by NOXX’s best-in-class retail team, Cookies Grand Rapids customers can expect the same over-the-top hospitality and tailored shopping experience NOXX is known for, including a world-class website for browsing hundreds of products online for home delivery or seamless in-store pickup through a dedicated to-go window. All myNOXX rewards members can also accrue and spend loyalty points at Cookies Grand Rapids in addition to other NOXX locations, with rewards members receiving a $10 coupon each month through March 2023.

“Through our partnership with Cookies, we’re doubling down on our commitment to what our customers want: the best selection of top-quality cannabis products at the best prices. From Muskegon to Holland to Big Rapids and in between—customers will have access to a selection of Cookies products unavailable anywhere else in the region, whether they choose to shop in-store or online,” said Tommy Nafso, CEO and founder of NOXX.

With a community-focused growth plan rooted in West Michigan, NOXX has welcomed thousands of customers through its doors since opening dispensaries on 28th Street in August 2022 and Plainfield Ave in November 2022, both of which also have Cookies products available for purchase. Staying true to its commitment to creating a more inclusive world through the power of cannabis, NOXX plans to hire 25% of its employees for the Cookies Grand Rapids store from Grand Rapids Neighborhoods of Focus, 17 census tracts the city has determined suffer as a result of systemic and historic inequities.

Cookies Grand Rapids is located at 330 Ann St. NW, and is open daily from 9 a.m. to 9 p.m. To learn more about Cookies Grand Rapids, visit Cookiesgr.com.

About NOXX

NOXX is a Michigan-based vertical cannabis company providing the best brands at the best prices, through innovation, quality, and inclusivity. From an omnichannel perspective across retail, wholesale, ecommerce and delivery, NOXX offers an unmatched experience meeting customers where they want to shop. The leadership team’s extensive history in executive management combined with deep cannabis market knowledge translates to elevated consumer experiences grounded in authenticity. Named for a friendly being from another galaxy on a mission to create a more inclusive world through the power of cannabis, NOXX and its house of brands provide exceptional cannabis flower, pre-rolls, concentrates and other cannabis products at dispensaries across the state. Learn more at NOXX.com.

About Cookies

Cookies, founded in 2010 by Billboard-charting rapper and entrepreneur Berner and Bay Area breeder and cultivator Jai, is the most globally recognized cannabis company in the world. Cookies values the power of the plant and focuses on creating game-changing genetics. The company offers a collection of over 70 proprietary cannabis cultivars and more than 2,000 products. Cookies also actively works to enrich communities disproportionately impacted by the War on Drugs through advocacy and social equity initiatives. Headquartered in San Francisco, the company opened its first retail store in 2018 in Los Angeles, and has since expanded to 58 retail locations in 18 markets across 6 countries. Cookies was named one of America’s Hottest Brands of 2021 by AdAge; the first cannabis brand to ever receive this accolade. To learn more about Cookies, visit cookies.co, and to learn more about Cookies CBD, visit shop.cookies.co

Innovative Cannabis Brand Escape Artists Expands Into Michigan, Debuts Pharmaceutical-Grade Topicals

by

KALKASKA, Mich.–()–Colorado-based cannabis brand Escape Artists, a top-selling maker of infused topicals for pain relief and recovery, today announced its expansion into the Michigan market through a partnership with 42 Degrees Processing (d/b/a Fresh Coast Extracts).

Escape Artists’ award-winning line of THC+CBD dermal topical creams—containing penetration-enhancing ingredients and featuring a smooth, luxurious feel—will be formulated with THC sourced from locally trusted Michigan purveyors.

“With superior performance in the Colorado market, the entire 42 Degrees team is elated to offer Escape Artists’ famed products to Michigan consumers,” said 42 Degrees’ COO, Elliot Swift, which operates a 20,000-square-foot product manufacturing, licensing and distribution facility in the Traverse City micropolitan area.

Escape Artists’ pharmaceutical-grade, water soluble creams are formulated with carefully selected ingredients and ultra-bioavailable cannabis extracts that enhance dermal penetration at the cellular level, providing cannabinoid-based relief in minutes. Escape Artists THC Relief Cream (2 ounces) is available in the following SKUs for recreational sale:

  • 1:1 CBD to THC

    • 800mg CBD / 800mg THC (with Rose and Bergamot)
    • 300mg CBD / 300mg THC (with Lavender)
    • 300mg CBD / 300mg THC (Unscented)
  • 20:1 CBD to THC

    • 800mg CBD / 40mg THC (with Lavender)
    • 800mg CBD / 40mg THC (with Menthol)

Escape Artists products continually rank in the top 10 of Colorado topical category sales by revenue according to industry analysts, Leaflink, Headset, and BDSA, and is set to be an exciting new player in Michigan’s cannabis and wellness markets.

“Since Escape Artists launched in 2017 in Colorado, the brand has been committed to providing premium products to consumers that are safe and effective—establishing the company as a leading brand in the topicals category in the state,” said Alison Di Spaltro, CEO of Escape Artists. “Now we are working to bring these products to new markets and are thrilled that the first one is Michigan. We have been blown away by how welcoming this cannabis community has been, and we are eager to get our products in the hands of new customers.”

Escape Artists cannabis topicals are available at select Michigan dispensaries. For more information, visit letsescape.com. Wholesalers can place orders through Leaflink.com.

About Escape Artists

Escape Artists specializes in cannabis-infused products for everyday wellness and self-care. Using proven methodologies from the pharmaceutical and food science sectors, Escape Artists develops game-changing cannabinoid delivery models including dermal topicals, premium infused pre-rolls, fast-acting edibles, and highly bioavailable tinctures. The Escape Artists team understands that giving back is not optional; the brand prioritizes donations of time, talent and treasure to organizations working in service of drug war prisoners and medical cannabis patients and underrepresented populations relying on cannabis plant medicine. Founded in 2017, the women-led company is one of the most widely distributed cannabis brands in Colorado and a category sales leader that is now expanding to markets across the United States. Escape To Now: letsescape.com

About 42 Degrees Processing

42 Degrees Processing is a brand foundry that helps clients forge ideas into finished goods for the Michigan market. Based in a 20k square foot facility in northern Michigan, 42 Degrees works with over 300+ retailers across Michigan. Their dedicated and hardworking staff take a blue-collar approach to crafting tailor-made solutions for the brands they support. 42 Degrees’ founders have operated in the Michigan marijuana market for a combined 35+ years, focusing on contract manufacturing, licensing and distribution of unique brands such as Fresh Coast Extracts. Learn more at freshcoast.io.