Geyser Brands Inc. announced that its subsidiary, 0957102 B.C. Ltd. DBA Apothecary Botanicals, is preparing to commence its co-packing and manufacturing operations as a means to grow Geyser Brands’ in-house brands, as well as bolster its operations by partnering with third-party consumer-packaged goods brands, to bring cannabis to the mainstream in the health and wellness sector.
Apothecary Botanicals has signed a non-binding letter of intent (“LOI“) to enter into a co-packing agreement between Geyser Brands’ subsidiary, Apothecary Botanicals, and The Yield Growth Corp., for the production and launch of Yield Growth’s Canadian cannabis brand ‘Jack n Jane’, a line of cannabis-infused products including tinctures, topicals, and capsules.
Apothecary Botanicals has been engaged to manufacture and distribute Yield Growth’s ‘Jack n Jane’ products, combining Yield Growth’s proprietary formulations with Apothecary Botanical’s cannabis supply, services, facilities, equipment, and required Health Canada licenses for processing and sales. Yield Growth will supply all non-cannabis ingredients, packaging, and design while Apothecary Botanicals will supply cannabis containing THC and/or CBD as required for the various product formulations. The first phase of production is expected to include three tinctures containing THC and CBD, with a goal of coming to market by December 31, 2019.
“I’m very pleased that Apothecary Botanicals can leverage its manufacturing, formulation, and distribution capabilities to assist Yield Growth expand into the Canadian market,” said Apothecary Botanicals CEO, David Eto, commented, “Our in-house expertise in the food & beverage sector will add tremendous value to cannabis brands entering the Edibles market worth an estimated C$2.7 billion annually in Canada alone. Our facilities are GMP-compliant and managed by food sector specialists who understand the importance of food safety and quality. Our business principles are grounded in building a transparent, cost effective, and trusting partnership that will create long lasting business relationships and positive experiences for customers who will consume edibles.”
“The goal of Apothecary Botanicals is to deliver innovative formulations and high-quality manufacturing using cannabis as an ingredient,” said Geyser Brands CEO, Andreas Thatcher, “This LOI shows that we are delivering on both. As the new cannabis legislation comes into force, we are scaling our licensed production into beverages, edibles and cosmetics. Our experience in food and beverage, cosmetics, and GMP manufacturing provides a complete platform for brands to enter the Canadian cannabis market.”
According to a report by Deloitte, it is estimated that the Canadian market for edibles and alternative cannabis products to be worth C$2.7 billion annually. The report states that 53% of surveyed likely Canadian cannabis consumers are eager to try topicals.
This announcement coincides with Health Canada’s official legalization of the production and sale of edible cannabis, cannabis extracts and cannabis topicals effective today, marking the one-year anniversary of the legalization of recreational marijuana in Canada.
The Yield Growth Corp. owns and operates wellness brands Urban Juve, Wright & Well, Jack n Jane and Flourish Mushrooms and has a catalogue of over 200 proprietary beauty, wellness, edibles and beverage formulas at various stages of commercialization. It has filed 12 patents to protect its extraction method and formulas. Urban Juve hemp powered skin care products have been featured in British Vogue, Vanity Fair UK and Elle Canada and Urban Juve has an alliance with leading online beauty community, ipsy. Wright & Well is launching a THC/CBD line of topical products in Oregon and a CBD from hemp topicals line in California this fall. Yield Growth plans to launch a line of edible mushroom wellness products in 2020.
Geyser Brands Inc. is a consumer health and wellness company operating within the Canadian cannabis industry. Geyser’s proprietary delivery technologies include all natural nano-technology, slow-release mechanisms, and non-molecule degrading baking processes.