FinancialBuzz.com’s latest Buzz on the Street Show: Featuring Our Corporate News Recap on “Pasha Brands introduces BC Craft Supply Co. as Solution Provider for Canada’s Supply and Quality Problems” and “Jamie Shaw Takes Reigns as Chief Communications and Culture Officer at Craft Cannabis Organization Pasha Brands” and “Pasha Brands Appoints Dr. Brigitte Simons as Chief Scientific Officer to High Value Craft Cannabis Organization.”
Prohibition-era brand house Pasha Brands Ltd. (CSE: CRFT) (OTC: CRFTF) introduced BC Craft Supply Co. Ltd. as the first in its line of nearly a dozen leading craft cannabis brands that aim to rectify Canada’s ongoing product shortage and quality issues. Through its subsidiaries, Pasha is Canada’s first licensed producer exclusively focused on assisting the original cannabis industry in Canada in gaining access to the regulated market through Health Canada’s new micro cultivation licensing regime.
Pasha Brands Ltd. Canada’s largest organization of craft cannabis brands, is pleased to announce the appointment of Jamie Shaw as its new Chief Communications and Culture Officer. The company also announced the appoint of Dr. Brigitte Simons as it’s new Chief Scientific Officer.
Cannabis decriminalization and legalization laws have swept through numerous countries across the world, as a plant that was once completely prohibited in virtually every country is now being leveraged for its medicinal benefits. Now, countries such as Argentina, Australia, Brazil, Colombia, Canada, France, Germany, Spain, the U.K, and parts of the U.S. have all adopted some form of medical cannabis legislation. However, despite the global spread of medical cannabis, the market predominantly revolves around the North American region. Primarily, Canada and the U.S. are the largest market drivers because of their early adoption as several U.S. states moved to legalize medical cannabis back in the 1990s. Currently, more than half of the U.S. states have legalized medical cannabis while 11 states and the District of Columbia have legalized its recreational use. Meanwhile, Canada legalized medical cannabis back in 2001 and then fully legalized cannabis in late 2018, allowing access to adult-use cannabis for both medical and recreational purposes. Furthermore, Mexico could potentially join parts of the U.S. and Canada if it moves to legalize cannabis as Mexico’s President Andrés Manuel López Obrador mainly wants to legalize cannabis in order to eradicate the black market scene that has ravaged the country. In Mexico, the cannabis black market has led to many casualties because of the war on drugs. Moreover, consumers typically have no clue where their cannabis is grown and what is treated with during the growing process. As a result, more regions want to create a transparent process while offering its citizens access to a medical alternative. According to data compiled by Imarc Group, the North American legal cannabis market was valued at USD 8 Billion in 2017. By 2023, the market is projected to reach USD 35 Billion while growing at a CAGR of 28% from 2018 to 2023.
The medical cannabis marketplace controls the majority of the overall cannabis market share because of its widespread availability and accessibility. However, the recreational sector is growing at a much more rapid rate due to the expanding user base in the North American region. Additionally, due to legalization efforts and changing consumer trends, cannabis-based companies have introduced new products that are much more potent and cleaner. Cannabis flower is starting to become less popular among avid consumers, however, the cannabinoids found within the flower are still required to create other products such as oils, concentrates, and edibles. Now, more and more consumers are starting to use oils and concentrates over traditional flower because of their potency and ease. However, the potency primarily depends on the strain used as well as the extraction process. Fortunately, extractors want to use the best quality strain for their products, whether it’s THC dominant or CBD dominant. And growers, some more generally known as “craft cannabis” producers, can manipulate the end result of strains based on the growing environment as well as the initial seed planting. Craft cannabis growers stress the importance of growing an all natural and premium product and tend to each individual plant to ensure the plant produces high-quality buds. Moreover, craft cannabis growers avoid using artificial byproducts such as pesticides in order to grow a more natural and healthier strain. Additionally, some growers alter the environment within indoor or greenhouse facilities to provide perfect temperatures, lighting, and humidity for optimal growing. And as a result, growers can produce a higher quality strain while obtaining a higher yield per harvest. For a large-scale facility, it is difficult to tend to each plant. On the other hand, smaller cultivators purposely grow small-scale facilities instead of producing large quantities as it allows them to spend more time per plant and cultivate with greater care. “Although there are many people who purchase cannabis on a budget, with the plethora of options available on the retail market, it’s understandable that discerning consumers are willing to spend a bit more for a better product,” said Lisa Rough, former Associate Editor at Leafly. “Remember: Craft cannabis does not necessarily require more funding to make a better product. Rather, it requires patience, care, and attention to detail.”
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