Kelowna cannabis producer ready to lay a big THC Kiss on cus Get ready to pucker up.
THC BioMed is raising a glass to celebrate its new cannabis-infused beverage, THC Kiss, that is currently waiting on approval from Health Canada. The Kelowna-based company said the drink is processed using a unique extraction method that allows for the infusion of cannabinoids “that have not been utilized before.”
“THC Kiss is a brand new cannabis beverage that is not available in either the grey or legal cannabis markets,” said John Miller, president & CEO of THC BioMed in a release. “We remain a true cannabis company that is fully integrated with passion and understanding of cannabis.”
Although extracts and edibles are currently legal in Canada, a 60-day notice period on new products required by Health Canada means the country will have to wait until December to sample the new line of goods. The market appears ripe for their arrival.
Deloitte estimates the Canadian market for cannabis-infused beverages will be worth $529 million annually. In a recent survey of 2,000 adults, 37 per cent said they intended to try them.
The format has not proven successful in legal U.S. states so far, accounting for just one per cent of 2018 cannabis sales by both value and volume, according to Deloitte.
Very few companies have succeeded in making cannabis beverages that taste good and have the high take effect in a way that’s similar to alcohol. Many in the industry believe the key to mainstream acceptance is creating a “sessionable” beverage, where one can have two or three drinks over a few hours while enjoying a steady, moderate high.
The challenge for beverage makers will be Canada’s strict limitations on branding and advertising cannabis products, which include the stipulation that such alcohol-related terms as “beer” and “wine” can’t be used to market pot drinks and that each container contain no more than 10 milligrams of THC, the cannabis compound that induces a high.
THC BioMed, a producer of medical and recreational marijuana, is undaunted. “We are excited about the future and look forward to capturing market share and scaling up accordingly,” Miller said. “We expect our gross margins to increase and predict growth in sales this coming year.”
Kelowna cannabis producer ready to lay a big THC Kiss on customers
The company's new cannabis-infused beverage is currently waiting on approval from Health Canada
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