NEW YORK, May 4, 2021 /PRNewswire/ — While medical cannabis still dominates the broad cannabis marketplace, the growing awareness and legalization efforts are expected to further propel the overall industry forward. For example, earlier in March, New York became the latest state to legalize recreational cannabis, and in doing so is expected to become one of the nation’s largest markets. The more welcoming perception towards cannabis legalization can be attributed to, in large part, the passage of the 2018 Farm Bill, which legalized production of industrial hemp, transforming it into a mainstream agricultural product. Soon after, numerous categories of CBD products started to appear. Overall, the cannabis market value was estimated at USD 22.9 Billion in 2020. The market is projected to witness a CAGR of 18.1% during the forecast period (2021-2026), according to data published by Mordor Intelligence. Cannabix Technologies Inc. (OTC: BLOZF) (CSE: BLO), Sundial Growers Inc. (NASDAQ: SNDL), Aurora Cannabis Inc. (NYSE: ACB), Green Thumb Industries Inc. (CSE: GTII) (OTC: GTBIF), Taat Lifestyle & Wellness Ltd. (CSE: TAAT) (OTC: TOBAF)
As sales of such products are becoming more popular, so are some of the unwelcome consequences, such driving while under the influence of cannabis. As such, the need for a marijuana breathalyzer was understood. “The first commercial units of the Hound Marijuana Breathalyzer will be in the hands of customers this spring,” Dr. Mike Lynn, an emergency room physician who is CEO and co-founder of Hound Labs, told High Times. “Production will ramp up throughout the rest of 2021.”
Cannabix Technologies Inc. (OTC: BLOZF) (CSE: BLO) just announced breaking news that, “it has received a notice of allowance from the United States Patent and Trademark Office (USPTO) for patent application, No. 17/019728 entitled, “Apparatus and Methods for Detection of Molecules”. This Track 1 patent application is centered on innovations made by Cannabix with its FAIMS (field asymmetric waveform ion mobility spectrometry) based marijuana breathalyzer technology. This patent application is the culmination of research and development work conducted by Cannabix scientists and engineers in the areas of ion mobility spectrometry, non-volatile molecule sampling and fluid dynamics. These developments will provide utility in several areas related to detection of molecules in breath.
Cannabix is using its FAIMS technology to isolate and detect ∆9-tetrahydrocannabinol (“THC”), a non-volatile compound, in breath. The Cannabix FAIMS marijuana breathalyzer device uses ion mobility filtering techniques (related to mass spectrometry – the gold standard analytical technique for molecular detection). The Cannabix device has been designed and built in a series of modules that together allow for sample intake, ionization, filtering and detection – all done under atmospheric pressure. In addition, the device has the ability to couple directly to a mass spectrometer in order to validate its detector responses.
It should be noted that a notice of allowance from the USPTO does not constitute a grant of patent. The Company will report on future material developments regarding its “Apparatus and Methods for Detection of Molecules” patent application in due course.
The Company has been steadily growing its intellectual property (IP) portfolio over recent months. In April, the Company received a notice of allowance for its patent application, No. 2887841 entitled, “Cannabis Drug Detection Device” from the Canadian Intellectual Property Office (CIPO). In addition, the Company was granted a granted patent No. 14/689434 entitled, “Cannabis Drug Detection Device” from the USPTO in January 2021. The newly received notice of allowance from the USPTO for its FAIMS related patent application builds on this IP momentum.
The Company expects to ship its THCBA to a clinic in the Northwestern, U.S. for beta testing in May. The collaborating clinic has a robust drug testing operation and is one of the top drug testing providers to employers within its respective state. The beta testing is focussed on improving user experience through testing and feedback and training the device’s machine learning database.”
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Sundial Growers Inc. (NASDAQ: SNDL) reported earlier this year that it has 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 on a consistent basis. Adding bubble hash and other advanced concentrates to our product portfolio will expand Sundial’s share of this rapidly expanding market segment.”
Aurora Cannabis Inc. (NYSE: ACB) announced in November that it has entered into a strategic Supply Agreement with Cantek Holdings, one of Israel’s leaders in the medical cannabis field. Under the terms of the Agreement, Aurora will supply Cantek with dried bulk flower over a two-year period, with the option to extend. The Company intends to provide Cantek with a minimum of 4,000 kgs of bulk dried flower annually, which will be processed into finished product, and co-branded under the Aurora and Cantek brand names for the Israeli market with the potential for additional international market sales. “We are excited about our strategic relationship with Cantek, a leader in the Israeli market. This Agreement provides Aurora with a great opportunity to expand our medical cannabis brand and industry leading science in one of our key international markets of focus,” said Miguel Martin, Chief Executive Officer of Aurora. “Today’s announcement demonstrates more than just a supply agreement. It’s about the strength and quality of the Aurora medical brand being validated once again by the world’s medical cannabis markets, including countries like Israel in which we had no distribution prior to today. We consider this Agreement to be a significant step for Aurora, and we look forward to bringing our high-quality medical cannabis products to patients in Israel.”
Green Thumb Industries Inc. (CSE: GTII) (OTCQX: GTBIF), a leading national cannabis consumer packaged goods company and owner of Rise™ Dispensaries, today announced it will open Rise Meadville in Pennsylvania, its 56th retail location in the nation, on March 31. Profits from the first day of sales will be donated to Women’s Services, which strives to meet the needs of children and adults of Crawford County who are in crisis due to domestic violence, sexual violence or homelessness. “Our team is excited to introduce additional Pennsylvanians to the Rise™ retail experience and our selection of high-quality branded cannabis products,” said Green Thumb Founder and Chief Executive Officer Ben Kovler. “Women’s Services is doing incredible work on behalf of families in crisis situations who need shelter and support services and we are grateful to donate to the cause.” The company was founded in 2014 and is headquartered in Chicago, Illinois.
Taat Lifestyle & Wellness Ltd. (CSE: TAAT) (OTCQX: TOBAF) has entered into a memorandum of understanding (“MOU”) dated February 24th, 2021 with Christina Lake Cannabis Corp. (“CLC”) (CSE: CLC) to develop and distribute TAAT™ for the Canadian market. The MOU grants CLC exclusive rights to develop and distribute TAAT™ in Canada for a two-year renewable term, and provides for budgets, schedules, and contributions of both parties for each stage of product development to be agreed upon by way of written agreements to set out specific stipulations for each stage. After launching TAAT™ in Ohio in Q4 2020 as well as its U.S. online store on February 17th, 2021, the Company has captured the interest of numerous smokers aged 21+ in the United States who are now smoking TAAT™ as opposed to traditional tobacco cigarettes. The Company selected Ohio as its initial market for several strategic reasons, with a principal criterion being the state’s ideal population size for an early-stage product launch (i.e., large enough to build meaningful market share, small enough to contain). Beginning this week, a major CPG sales agency is rolling TAAT™ out to wholesaler, distributor, and retailer accounts in an effort to expand the current footprint of TAAT™.
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