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PALM BEACH, Fla., April 7, 2021 /PRNewswire/ -- Most random recreational cannabis users would say, if asked, is having a higher level of THC give you a "better high". The answer is "Yes… and "No". Different strains and different users have their own effects. Also, does a consumer really know the level of THC in the products they buy? Marijuana Business Daily addressing the recreational market said: "A new study shows consumers are unable to identify cannabinoid levels in products they use. Further, 20-50 percent don't know the THC:CBD ratio of the products they normally use. This lack of consumer awareness could have implications for the safety and efficacy of therapeutic use and throws into question the reliance on self-reported cannabis potency in scientific studies. The research, carried out at the University of Waterloo in Ontario, aimed to gauge consumer understanding of THC and CBD levels of common cannabis products, including herbal cannabis, edibles, vaporizers and topicals. Data was collected online over a two-month period in 2018 from consumers in three jurisdictions: in Canada, prior to the legalization of recreational cannabis; in US states in which recreational cannabis was prohibited; and in US states that had legalized non-medical cannabis. Of those reporting use of dried cannabis, only 10 percent were able to report the THC level of products they usually consumed. In all three jurisdictions, less than one-third of consumers were able to identify THC and CBD levels in their products." Active Cannabis companies in the markets this week include Ikänik Farms, Inc. (CSE: IKNK.U), PharmaCielo Ltd. (OTCQX: PCLOF) (TSXV: PCLO), Khiron Life Sciences Corp. (OTCQX: KHRNF) (TSXV: KHRN), Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB), Canopy Growth Corporation (NASDAQ: CGC) (TSX: WEED)
Marijuana Business Daily continued: "While the study did not verify the accuracy of this self-reported data, many consumers said their products contained implausible amounts of THC (greater than 30 percent) or CBD (greater than 20 percent)—levels rarely seen in the market. Confusion about units of measurement was also prevalent, with consumers of dried cannabis reporting THC levels in milligrams (instead of grams) and users of edibles identifying cannabinoid levels in percentages (instead of milligrams). While users in US states where cannabis is legal were better able to report THC and CBD levels, still less than 20 percent of those using dried herb could identify THC levels. These findings are consistent with other studies of self-reported THC levels that correlated only modestly with laboratory-tested levels. Given the expansion of cannabis products in both recreational and medical markets—including high-CBD products and those with moderate and balanced THC:CBD ratios—there appears to be a need for more consumer education, especially about THC and CBD potency. More-frequent users were better able to report both THC:CBD ratios and levels, suggesting consumer awareness may (need to) improve as the industry matures."
Ikänik Farms, Inc. (CSE: IKNK.U.CNQ) BREAKING NEWS: Ikänik Farms Enters Into Three Year Supply Contract With Yura Group - Ikänik to Supply Hemp CBD and Finished Products for sale in US and LATAM markets - Ikänik Farms, Inc. ("Ikänik Farms" or the "Company") is pleased to announce Ikänik Life, Inc. ("Ikänik Life"), a wholly owned subsidiary of the Company has signed a three-year supply agreement with Yura Group ("Yura"), for the company's full line of hemp-based CBD products.
"We are excited to announce our partnership with Yura Group, whose founders have a strong reputation for distribution excellence in the LATAM marketplace," said Brian Baca, CEO of Ikänik Farms. "We look forward to growing with our partner, not only to advance the industry geographically, but also categorically."
The supply agreement with Yura is focused on the US and LATAM markets, with a minimum annual purchase quantity of 240,000 finished units. The cosmetic based product suite includes topical creams, rubs and balms. Ikänik Life is responsible for finished product formulations and will collaborate with Yura on new product development to support consumers growing demand of hemp CBD-based products. Yura services over 50 million Latin consumers annually.
"The Yura Group agreement will help expand the Company's footprint into 8 additional countries, broadening our reach to our target consumers, globally." said Borja Sanz de Madrid, President of Ikänik International, Inc.
"We are very excited to partner with Ikänik Farms and apply Yura's commercial capabilities and decades of success in direct sales to US and Latin American markets. With the rapid regulatory changes occurring throughout LATAM, we anticipate having products available for sale in LATAM countries by Q3, 2021" said Mariano Cariola, CEO of Yura Group.
Ikänik Farms is traded on the Canadian Securities Exchange under the ticker symbol (IKNK.U). Read More Details about Ikänik Farms by visiting: https://mugglehead.com/ikanik-farms-establishes-colombia-mexico-thc-export-will-list-to-cse/
Other recent developments in the cannabis industry include:
PharmaCielo Ltd. (TSXV: PCLO) (OTCQX: PCLOF), the Canadian parent of Colombia's premier cultivator and producer of medicinal-grade cannabis extracts, PharmaCielo Colombia Holdings S.A.S., recently provided an update on its operations in Mexico, in light of the country's continued advancement of legislation to legalize the use of recreational cannabis in the country. On March 10th, Mexico's Chamber of Deputies voted 316 to 129 to advance a bill that would legalize recreational cannabis use in the country (the "Bill"). This follows the move by Mexico's health ministry in January, to publish a much-anticipated legal framework for the medical cannabis space, including a provision for the import of medicinal extracts and products. Through PharmaCielo S.A. de C.V. ("PharmaCielo Mexico"), a joint venture with MINO Labs S.A. de C.V. ("MINO Labs"), a specialty pharmaceutical company and medical supply distributor based in Mexico, the Company is well-positioned to become a preferred supplier in the country.
Khiron Life Sciences Corp. (TSXV: KHRN) (OTCQX: KHRNF), a vertically integrated cannabis leader with core operations in Latin America and Europe, recently announced that the Company has successfully delivered EU-GMP medical cannabis product to Germany. In collaboration with Nimbus Health, a leading medical cannabis distributor in Germany, Khiron is now positioned for imminent first sales in Germany. Khiron products are currently in inventory in the Nimbus warehouse, ready to be prescribed to patients and distributed through a vast network of 300 pharmacies across Germany.
This major milestone represents a new revenue stream for the Company and positions Khiron's European team to execute on its German medical strategy. Leveraging its partner's large distribution network and Khiron's ongoing investments in physician education, the Company has secured immediate access to the German market. Khiron 1/14 will focus on indications such as anxiety, substance use disorder, and migraines, addressing patient needs and improving access to medical cannabis.
Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB), the Canadian company defining the future of cannabinoids worldwide, recently announced its financial and operational results for the second quarter of fiscal 2021 ended December 31, 2020.
"Aurora had an excellent second quarter, and I'm pleased that we're advancing nicely against the plan we laid out in September of 2020," stated Miguel Martin, Chief Executive Officer of Aurora Cannabis. "For the period, our core revenue strength in medical and consumer was complemented by initial rollouts in vape products and concentrates. Combined, these elements are part of the proven, regulated CPG strategy we've adopted. Adjusted EBITDA for the quarter, while vastly improved year over year, was impacted by several decisions that we believe will clear a path for our premium product focus and more variable cost model. We are confident that this will give Aurora maximum flexibility and position the organization to drive significant cashflow in the coming quarters."
Canopy Growth Corporation (TSX: WEED) (NASDAQ: CGC) recently announced that it has completed the acquisition of AV Cannabis Inc. ("Ace Valley") - one of Ontario's leading cannabis brands. With a strong focus on ready-to-enjoy ("RTE") products and a loyal following of millennial and Gen-Z consumers, the acquisition will strengthen Canopy's industry leading house of brands.
Through this acquisition, Canopy Growth will acquire 100 percent of Ace Valley with the intention of leveraging the Company's best-in-class national sales, marketing and distribution capabilities to expand the product portfolio and scale the brand across Canada.
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