Canopy Growth’s BioSteel CBD Products Begin Appearing On Store Shelves

It appears that Canopy Growth Corp (TSX: WEED) (NYSE: CGC) has quietly begun selling CBD products in the US under the BioSteel brand, a company which the firm acquired a 72% stake in last October. BioSteel is currently a leader in the sports nutrition category, and has a number of partnerships with multiple national sports organizations.

While the CBD product variants don’t appear on BioSteel’s own website, a number of third party retailers have listed the firms new CBD products online. One website, known as DirectCBDOnline, currently offers eleven different products, which includes CBD infused protein powder, CBD chewing gum, and CBD isolate sports hydration mixes, with pricing ranging from $14.99 to $69.99.

A search for CBD on the BioSteel website redirects users to a “CBD For Sport” page, which then returns a “404 not found” error.

While no official announcement has been made by the company on the matter, the timing appears to be correct based on a Forbes article, wherein the firm identified it was aiming to have CBD product on the shelves in 2020.

The use and acceptance of CBD-based products in the professional sports landscape has changed. We have witnessed the negative effects of prescription painkillers and athletes are looking for healthier alternatives. Its presence is already commonplace amongst NHL players and as a regular CBD user myself, I couldn’t be more proud to champion BioSteel’s evolution and leadership in this space.

Michael Cammalleri, Co-Founder and Co-CEO, BioSteel Sports Nutrition, October 2019

Canopy Growth Corp last traded at $21.59 on the NYSE.


Information for this briefing was found via Sedar and Canopy Growth 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.

Video Articles

Majors Don’t Want to Be Left Out of This Gold Run | Mike Bennett – Altamira Gold Corp

Gold Isn’t Slowing Down Anytime Soon!? | Terry Lynch – Power Metallic

Why Japan Could Shock the Gold Market?! | John Proust – Japan Gold

Recommended

Sage Potash Outlines US$502 Million NPV For Flagship Sage Plains Project

Ontario MPP Removed From Caucus After Assault Charges

Related News

Federal Wage Subsidies Granted to Publicly Traded Cannabis Companies Eclipses $100 Million

On June 1, 2021, total wage subsidies doled out to publicly traded cannabis companies from...

Wednesday, June 2, 2021, 02:30:00 PM

Canopy Growth, Hemp Producer Head to Court Over 1,115 Acres of Lost Production

Canopy Growth Corp (TSX: WEED) (NYSE: CGC) and its US based hemp partner Go Farm...

Thursday, October 10, 2019, 04:22:24 PM

Canopy Growth Stocks Suffer Record Low

Canopy Growth, Corp (TSX: WEED) hit a new low on Monday as stocks plummeted in...

Tuesday, June 14, 2022, 11:30:00 AM

Canaccord: Canopy USA Transaction Is An Overall Positive

Canopy Growth (TSX: WEED) earlier this week revealed that it would be restructuring its US...

Thursday, October 27, 2022, 03:06:00 PM

Canopy Growth Pushes Out CFO, President As Market Position Slides

Evidently Canopy Growth (TSX: WEED) is not satisfied with its poor performance to date. The...

Friday, November 19, 2021, 09:15:08 AM