WeedMD will expand availability starting with Ontario expected in March 2021, to be followed by additional provinces. The launch will eventually expand to include new product formats, including Mary’s Medicinals transdermal gels and patches, and will become available to both medical and direct-to-consumer markets.
WeedMD is processing Mary’s Medicinals compound in-house at its Aylmer, ON-based extraction hub, using its own indoor and outdoor-input biomass. The Company’s product development and extraction teams are using Mary’s proprietary and patented technology which calls for extracting CBD, THC and CBN (cannabinol) – the active cannabinoid ingredients used to produce rich transdermal compounds. The extracts and resins are formulated together with naturally sourced mango butter, locally-sourced beeswax and menthol ingredients to produce Mary’s Medicinals topical products, which have been shown to provide targeted relief and deeper penetration than traditional cannabis topicals.
“We’re excited to be launching Mary’s Medicinals acclaimed therapeutic-based cannabis products in Canada – an important milestone as we expand our line-up with trusted Cannabis 2.0 additions,” said George Scorsis, Executive Chairman and Interim CEO, WeedMD. “We set out to produce CBD, THC and CBN-rich extracts in order to formulate new cannabis formats for an underserved patient and consumer segment looking for high-value, premium self-care products. As Mary’s Medicinals’ exclusive partner, we are proud to be introducing and delivering these high-calibre topical products to our local markets and taking a dominant position in this segment with a trusted brand.”
“Canada has long been regarded as a pioneering cannabis nation and we’re thrilled to be expanding Mary’s Medicinals’ product reach into this important market alongside our local partner WeedMD,” said Chuck Smith, CEO of BellRock. “Our collaboration comes at a time when there is a greater acceptance of diverse and novel cannabis delivery methods and an evolving consumer base. We’re looking forward to expanding into new and exciting distribution channels across the continent with such a lauded partner.”
With Mary’s Medicinals product release on the Company’s medical channel, Starseed Medicinal, WeedMD expects to gather important insights, data and consumer feedback prior to its retail release. Starseed patients with benefits coverage may be able to purchase topicals via insured benefits.
Current third-party* data suggest over 75% of Canadians new to cannabis are interested in trying cannabis topicals as a relief for certain indications including as an analgesic alternative. A recent research report from RBC Capital Markets forecasts the 2021 Canadian concentrates-topicals sales market to be valued at approximately C$227 million, as cannabis-curious Canadians look to try non-intoxicating, next-generation cannabis products.
Mary’s Medicinals Patented Formulations & More about CBN Products
Mary’s Medicinals is widely recognized in legalized U.S. states, including its home state of Colorado, as well as Nevada, Michigan, Illinois, Maryland, Oklahoma and Florida, for its innovative portfolio of cannabis brands. In August 2020, WeedMD and Mary’s announced an exclusive agreement to produce and distribute Mary’s Medicinals products in Canada.
WeedMD is now producing CBN isolates, a minor cannabinoid found in cannabis, though in trace amounts when compared to dominant cannabinoids, THC and CBD. Research suggests CBN may have potential to alter pain signals and may possess sedative properties amongst other properties.
The Company is also currently assessing CBN product applications in addition to topical compounds, such as patches and transdermal gels, tinctures and vaporizable products for its medical and adult-use portfolios under the Mary’s Medicinals brand.
WeedMD has further completed volume trials to produce CBD isolate. The refined, crystalline form of the cannabinoid boasts near-pure CBD concentrations, upwards of 99 per cent potency. The Company is exploring future product potential for CBD isolate, including high-potency oils, sprays and prepared edibles for its Starseed Medicinal and adult-use Color Cannabis and Saturday Cannabis brands.
*Source: Deloitte – Nurturing New Growth, Canada Gets Ready for Cannabis 2.0 (2019)
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