Companies aim to expand choices for consumers and medical patients in Canada and the U.S.
Three of Canopy Rivers Inc.'s (TSX: RIV) portfolio companies have made recent announcements as they aim to introduce new or expanded choices for cannabis consumers and medical patients in Canada and the U.S.
"We continue to be impressed with the ability of our portfolio companies to respond to shifting consumer demands in the cannabis space while executing on their long-term strategies," said Narbé Alexandrian, President and CEO, Canopy Rivers. "We still see greenfield in the Canadian brand market, and we are excited to see both Agripharm and Dynaleo taking steps to introduce Canadians to brands that have proven track records in U.S. markets."
More details on these developments are included below:
- Dynaleo Inc., an Edmonton-based manufacturer of cannabis-infused gummies, signed its first letter of intent with Pantry, a California-based edibles brand that says it has bridged the worlds of culinary arts, cannabis, and wellness. The agreement follows Dynaleo's receipt of its processing license from Health Canada and marks Pantry's first international expansion beyond the U.S. where it distributes cannabis-infused food brands for the recreational market. Dynaleo hopes that the LOI will be a first step in the company's goal to close the gap between supply and consumer demand for gummies in Canada.
- Agripharm Corp. received a license amendment from Health Canada to allow for the sale of dried cannabis, extracts, edibles, and topicals. The amendment enables Agripharm to exercise its exclusive rights to introduce brands from SLANG Worldwide Inc. and Green House Seed Co. to the Canadian market. Agripharm plans to initially launch three products from SLANG's portfolio, including the Firefly Mini vaporizer, O.penVAPE, and Bakked Dabaratus, a one-click dabbing solution that delivers a dose of extract.
- TerrAscend Corp. opened its third retail dispensary location in Pennsylvania. Jason Ackerman, TerrAscend's CEO, noted that this third Apothecarium location signals the company's commitment to local patients as the state's medical program continues to grow. The newly renovated, 5,000 square foot medical dispensary is designed to enhance patient experiences and features private consultation rooms, highly trained staff, a wide variety of products, and options for online ordering.
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