The U.S. may be a step closer to cannabis legalization at the federal level. At the moment, 18 states, two territories and the District of Columbia have passed legislation to allow adult recreational use of cannabis in the U.S. And 36 states and four territories have passed legislation to allow medical use, according to the National Conference of State Legislators. This increased legalization has put the legal marijuana market on track to be worth $70.6 billion globally by 2028,” as noted by CNBC. However, with Senate Majority Leader Chuck Schumer pushing for legalization, and Supreme Court Justice Clarence Thomas saying national prohibition is unnecessary, the U.S. may be nearing a turning point. According to Thomas, ““A prohibition on interstate use or cultivation of marijuana may no longer be necessary or proper to support the federal government’s piecemeal approach,” he said, as quoted by CNBC. All could be positive catalysts for companies such as Phyto Extractions Inc. (CSE:XTRX) (Frankfurt:D2EP), High Tide Inc. (TSXV:HITI)(NASDAQ:HITI), Canopy Growth Corporation (TSX:WEED)(NASDAQ:CGC), Tilray Inc. (NASDAQ:TLRY)(TSX:TLRY), and Green Thumb Industries Inc. (CSE:GTII)(OTC:GTBIF).
Phyto Extractions Inc. RV Visits Retailers in Cross-Country Tour
Phyto Extractions Inc. (CSE: XTRX)(Frankfurt: D2EP), formerly, Adastra Labs Holdings strives to continuously bring consumers new and innovative products to enhance their experience and overall enjoyment. Phyto Extractions™’ is known for its iconic concentrate product - Shatter and brand success as it was built during the legacy or “grey” market era. Shatter is Phyto’s newest product line to launch in the Canadian medical and adult-use markets, hitting shelves first in BC in D Bubba and Pink Kush varieties with single-source starting material provided by a local licensed cultivator.
Available in three high THC potency strains including: Blue Gorilla OG, Pink Kush and D Bubba, all Phyto Extractions™ shatter is extracted and processed in a controlled laboratory environment to prevent contaminants, living up to the brand’s promise of offering products that are free of additives and synthetic fillers. The initial quantities purchased by the BCLDB sold out in two days in British Columbia.
In October, 2020 Phyto Extractions™’ marketing & sales team initiated a project with the intention of building relationships and offering support to licensed cannabis retailers across the country. With successful grassroots marketing strategies and community-building during the brand’s legacy market era, and with many retailers facing lockdown restrictions impacting their businesses, the team set out on a cross-country RV tour to bring product knowledge directly to retail managers and budtenders in a safe way, respecting all provincial guidelines along the journey. During the RV’s first run, Phyto’s sales team visited 158 licensed cannabis retailers from British Columbia to Ontario.
This summer, as Phyto Extractions™’ shatter SKUs hit shelves in British Columbia, Saskatchewan, Manitoba and soon to launch in Alberta and Ontario, Phyto’s team embarked on its second RV tour, named “The Shatter Run”, this time leaving from Ontario en-route back to its home-base in BC. The tour commenced on June 21 and visited Shiny Bud retail locations from Toronto to Windsor where the team was interviewed for a podcast hosted by Mike Elkin aka TheCannaBrokr. From there, the Shatter Run continued by visiting retailers around Ontario and activating outside of Sessions locations in Waterloo, Windsor, Sarnia, Aurora, Wasaga and Timmins.
Two months will be spent on the road; connecting and building relationships with retail managers and staff, providing education and in-store visual merchandising displays to enhance brand awareness and encourage product sell-through.
The goal is to visit 250+ retailers by August, 2021. As of July 7, 160 retailers (corporate, franchise and independent) have been visited from Ontario to Manitoba. From Manitoba the team will travel to Calgary, arriving on July 10, or 7/10, the 4/20 for “dabbers” or cannabis concentrates celebration.
“As a retailer myself, I believe that brand success stems partly from in-person connection. This is imperative from brand to retailer personnel, particularly when it comes to the concentrates category. The winning formula lies in Phyto’s quality, consistent products, iconic legacy brand, passionate team and superior support.
I applaud our dedicated staff who work tirelessly to deliver this first-class experience to even the single store, in remote communities. We believe that Phyto is still the people's brand and a favourite Canadian legacy that will continue to live on." said Michael Forbes, CEO, Phyto Extractions Inc.
To learn more about the Phyto Extractions™ team, please watch the following video: https://youtu.be/mtC9QicyeuI
Other related developments from around the markets include:
High Tide Inc., a retail-focused cannabis corporation enhanced by the manufacturing and distribution of consumption accessories, announced that it has completed the acquisition of DHC Supply LLC operating as Daily High Club. The Acquisition was completed pursuant to the terms of the merger agreement previously announced by the Company on June 25, 2021, pursuant to which High Tide USA Inc., a Nevada corporation and a wholly-owned U.S. subsidiary of the Company, has acquired 100% of the issued and outstanding shares of Daily High Club.
Canopy Growth Corporation and The Supreme Cannabis Company announced the completion of the previously announced arrangement whereby Canopy has acquired all of the issued and outstanding common shares of Supreme. As Canopy continues to focus on the premium flower segment, the addition of 7ACRES and the 7ACRES Craft Collective enhances Canopy’s leading market share position and supplements its production capacity through the acquisition of Supreme’s low-cost, scalable cultivation facility in Kincardine, Ontario. This facility has a proven capability for producing high-quality flower from sought-after strains that have earned Supreme’s brands their loyal consumer followings. Additionally, the acquisition of Supreme further strengthens Canopy’s overall leadership position within the Canadian recreational market and creates a pro forma Q4 FY 2021 market share of 18.1%. Furthermore, the acquisition creates the opportunity for immediate value creation with an estimated $30 million in synergies to be captured within the next two years.
Tilray Inc. announced that its wholly-owned subsidiary in Germany, Aphria RX GmbH, has completed the first successful harvest of medical cannabis cultivated in Germany for distribution to German pharmacies. The medical cannabis harvest is the first cultivated under European Good Manufacturing Practices (EU GMP) standard at Tilray’s state-of-the-art 6,000 square meter indoor growing facility in Neumünster, Germany. The subsequent distribution, which was carried out by a distributor on behalf of the German Cannabis Agency and in accordance with all pharmaceutical and narcotic legal requirements, underscores Tilray’s strong foothold and operational excellence within Europe’s key medical cannabis market.
Green Thumb Industries Inc. announced it has closed on its acquisition of Dharma Pharmaceuticals LLC, previously announced on May 3, 2021. As one of only five licenses in the Virginia medical cannabis market, Dharma is licensed to grow, process and retail cannabis directly to patients. “In a limited-license market with a population of nearly 8.5 million people, this transaction is a major win for our shareholders, and we are ready to welcome Dharma officially to the Green Thumb team,” said Green Thumb Chief Executive Officer and Founder Ben Kovler. “Expanding into the first state to pass adult use cannabis in the Southeastern U.S. is an important milestone for Green Thumb and we are excited for the future.”
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services Phyto Extractions Inc. by Phyto Extractions Inc. We own ZERO shares of Phyto Extractions Inc. Please click here for full disclaimer.
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