Lift & Co. cannabis experts are available to help media navigate new cannabis products and regulations coming to market
June 14 2019 - 6:41PM
Lift & Co. Corp. ("Lift & Co." or the "Company") (TSXV:
LIFT) (OTCQB: LFCOF) cannabis experts including our CEO Matei
Olaru, VP Strategy Nick Pateras and CannSell experts are available
for interview, comment or background to media covering the new
cannabis products and the regulations announced today by the
federal government.
“In terms of boosting the market, the legalization of these
product formats could be even more significant than the initial
phase of legalization,” says Nick Pateras, Vice President of
Strategy for Lift & Co. “These new formats will be the catalyst
for market acceleration and are paramount to effectively shifting
demand into regulated channels."
"These new cannabis products will bring a whole new consumer
segment into the sector. Our recent partnered study on edibles
indicates 1.5 million in new consumers in the first year,” said
Matei Olaru, CEO for Lift & Co. “There is a land grab
opportunity for brands to strategically position their edibles,
extracts and topicals products in the second year of legalization.
Lift & Co. continues to provide unique consumer data insights
by aggregating data across our proprietary consumer database at
lift.co and our budtender training platform CannSell.”
Consumers are likely to face challenges understanding what new
formats are being introduced to the legal market as well as what
new products they may see on shelves. Helping consumers understand
these new product formats is challenging because there is
variability in some of the naming conventions. For example, Lift
& Co. staff found different terminology across different
websites.
What's it called? |
Common name |
Flower / Bud |
Cannabis Oil* |
Edibles |
Beverages |
Capsules |
Concentrate (liquid) |
Concentrate (solid) |
Topicals |
Canada.ca/Cannabis |
Dried Flower |
Cannabis Oil |
Edible cannabis (solid) |
Edible cannabis (beverage) |
Cannabis Extract (injested) |
Cannabis Extract (inhaled) |
Cannabis Extract (THC concentrate) |
Cannabis Topicals |
Cannabis Act Name(Schedule 3) |
Dried Cannabis |
Cannabis Oil |
Solid containing cannabis |
non-solids containing cannabis |
non-solids containing cannabis |
cannabis non-solid concentrates |
cannabis solid concentrates |
non-solids containing cannabis |
OCS Product Category |
Dried Flower |
Cannabis Oil |
Edibles |
Beverages |
Capsules |
Concentrates |
Extracts |
Topicals |
* According to the Government of Canada's "FINAL
REGULATIONS FOR NEW CANNABIS PRODUCTS: EDIBLE CANNABIS, CANNABIS
EXTRACTS AND CANNABIS TOPICALS," Cannabis oil is scheduled to be
discontinued as its own product format 12 months after legalization
of other formats (October 17, 2020 if legalization is October 17,
2019) |
|
For new cannabis consumers who may be trying dried flower and
cannabis oil for the first time, understanding how these new
product formats compare is difficult. Schedule 3 of the Cannabis
Act lays out dried flower equivalents in terms of grams, which is
what consumers need to know to calculate their personal public
possession limits. The new regulations also set limits for licensed
producers and manufacturers for the maximum amount of THC in each
of these new product formats. The limits, and the way in which THC
is presented on the label differ widely by format making it
difficult to compare the amount of THC in a product.
An infographic accompanying this announcement is available
at
https://www.globenewswire.com/NewsRoom/AttachmentNg/4583fd9d-7466-4449-b503-97241c29ebc8
It is important for consumers to understand that the method of
consuming cannabis matters. Inhaling cannabis by smoking or vaping
is different than consuming cannabis by eating or drinking it. When
cannabis is eaten it is processed by the liver (not the lungs) and
is converted into 11-Hydroxy-THC which can have effects on the
brain that are up to 3-5 times stronger than regular THC1. This
means that edibles can have stronger effects even at lower
concentrations.
Expert commentary available
Lift & Co. CEO Matei Olaru and VP Strategy Nick Pateras are
available for commentary on what these changes will mean for
consumers and the cannabis industry (both in Canada and globally)
and can speak to what new product formats we are likely to see.
For commentary on consumer trends and how marketers might
position these new product formats our Chief Revenue Officer Jon
Kamin is available.
Our CannSell retail training experts are also available for
detailed retail and consumer awareness commentary.
About Lift & Co.Lift & Co. (TSXV: LIFT)
(OTCQB: LFCOF) is a publicly traded technology company modernizing
the cannabis industry.
Forward-looking statementsNeither TSX Venture
Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accept
responsibility for the adequacy or accuracy of this release.
Although the Company has attempted to identify important factors
that could cause actual results, performance or achievements to
differ materially from those contained in the forward-looking
statements, there can be other factors that cause results,
performance or achievements not to be as anticipated, estimated or
intended.
There can be no assurance that such forward-looking statements
will prove to be accurate or that management's expectations or
estimates of future developments, circumstances or results will
materialize. Accordingly, readers should not place undue reliance
on forward-looking statements. The forward-looking statements in
this news release are made as of the date of this release. The
Company disclaims any intention or obligation to update or revise
such information, except as required by applicable law, and the
Company does not assume any liability for disclosure relating to
any other company mentioned herein.
For further information:Lift & Co.Sara
McMillen, Director Communications and Government Relations, Lift
& Co.smcmillen@lift.co1-416-220-9536
Nikki Laoutaris, Communications Manager, Lift & Co.
nlaoutaris@lift.co1-647-464-0148
Investor Relations:Thesis CapitalPrit Singh, 905-510-7636,
psingh@thesiscapital.ca
____________1 User-friendly source:
https://sapiensoup.com/images/thc/Infographic-Human-Metabolism-THC-1300.png
Original research here:
https://www.researchgate.net/profile/Bhola_Nath_Dhawan/publication/20324783_Drug_abuse_in_India_progress_in_research/links/02e7e52a07f8f5d62b000000/Drug-abuse-in-India-progress-in-research.pdf#page=105
And here:
https://www.researchgate.net/profile/Franjo_Grotenhermen/publication/10846458_Grotenhermen_F_Pharmacokinetics_and_pharmacodynamics_of_cannabinoids_Clin_Pharmacokinet_42_327-360/links/0deec52c807847f92e000000.pdf
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