It appears today is the day for a number of new product announcements for the Ontario cannabis market. Following the announcement of ready to drink cannabis beverages soon hitting the market by The Valens Company (TSXV: VLNS), 48North Cannabis (TSXV: NRTH) announced that they would be bringing the first cannabis topical product to the Canadian market.
The product, known as Apothecanna, has already been shipped to the Ontario Cannabis Store, and is expected to be available shortly for consumers. The first product sold will be that of an extra strength body cream that uses both non-psychoactive THC and CBD within its formulation, sourced from 48North’s outdoor cannabis crop.
Apothecanna is an established US cannabis brand that has been in operation since 2009. It focuses on organic topical formulations, and has developed a suite of products including pain relief creams, skin care products, and other cannabis based topicals.
Since the beginning 48North has been committed to selling next-generation cannabis products to Canadian consumers. In response, the company has built landmark partnerships with companies like Apothecanna and Avitas to bring some of the highest-quality products to consumers. In being first to market in this product class, 48North has the opportunity to build brand awareness and loyalty with existing and potential consumers.
Kirsten Gauthier, CMO of 48North
48North last traded at $0.26 on the TSX Venture.
Information for this briefing was found via Sedar and 48North Cannabis Corp. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
