RE:RE:Bevcanna Partnership? In Bevcanna's last management call they explicitly answerd this question stating Nextleaf would be a primary supplier of cannabinoids and that Bevcanna would be operating as a traditional agnostic bottling operation, going with client formulations while also consulting with new customers on formulation.
Everybody keeps focusing on THC but CBD health drinks will be the big boom now that they're over the counter in Europe and CBD FDA regulations upcoming for the US. In that scenario it will be an issue of economical CBD supply, which is Nextleaf's entire schtick. Bevcanna cannot sell THC drinks legally into the US [B2B or B2C] currently and THC beverages in Canada are a fraction of total market sales. However, Bevcanna's Pure Therapy e-commerce marketplace can move CBD in the US no problem.
It's interesting Bevcanna chose not to NR their license immediately. Wonder if they'll package it as an announcement Tuesday with some LOI conversions to contracts.
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The FDA and the Emerging CBD Industry
Since the legalization of CBD in the United States in 2018, the FDA has been under pressure to introduce reforms to allow for the sale, marketing and regulation of CBD and hemp products.
In 2019, the agency was pressured to provide updates on CBD regulations, which they did in March of 2020. Furthermore, the FDA released draft guidelines that were designed to help streamline approvals for oral CBD medications.
While the FDA has been grappling with CBD legalization, the US Department of Agriculture (USDA) have published their final ruling regarding the US hemp industry in January of this year, and have submitted this to Joe Biden for final approval.
https://theweedblog.com/marijuana-news/hemp-and-cbd-could-be-marketed-as-dietary-supplements-under-bipartisan-congressional-bill
Bevcanna management call: Timestamp: 31:45 - Nextleaf followed by questions about Sproutly
https://78449.choruscall.com/dataconf/productusers/bevcanna/mediaframe/42142/indexr.html