Canada’s largest craft cannabis brands organization Pasha Brands Ltd. (CSE: CRFT) (OTC: CRFTF) has acquired the CBD Therapeutics brand, a pre-legalization manufacturer and purveyor of CBD product based in British Columbia.
Financial terms of the deal were not disclosed.
Vancouver, British Columbia-based Pasha has acquired all of the brand’s trademarks, names and intellectual property and will re-launch the brand in the Canadian regulated market in the very near future.
Finding More Opportunities
CBD Therapeutics is a supplier of solvent-less full spectrum and isolated CBD formulations to the pre-legalization market throughout Canada, and increased access to both products and education. Since ceasing sales in October 2018, the company has been preparing to enter the regulated framework.
“Joining Pasha Brands is yet another step forward in our mission of making CBD products more accessible,” CBD Therapeutics CEO James Whitehead stated. “Working with a collective of smart, like minded individuals and brands will help open opportunities for CBD Therapeutics and aid our growth. It already has.”
CBD Therapeutics is one of the only companies in the CBD space that has built and offered an educational curriculum on CBD that can be accessed for free. They credit their focus on education as one of the reasons they are Canada’s largest direct-to-consumer retailers of CBD.
“We’re thrilled to have acquired one the leading CBD brands in Canada and feel Pasha will benefit from CBD Therapeutics’ established client base and brand awareness, as they’ve made a strong name for themselves in the CBD market,” Patrick Brauckmann, executive chairman of Pasha Brands, said in a statement.
What’s Next
Following the legalization of cannabis in Canada, retailers have experienced supply shortages for all cannabis, but are particularly concerned with keeping highly demanded CBD products on shelves. The popularity of CBD has captured the attention of a variety of consumers, many of whom are first-time users.
Through the acquisition of CBD Therapeutics, Pasha aims to help close the supply gap of CBD and is preparing to take advantage of Health Canada regulations on cannabis edibles, beverages, topicals and extracts, set to become legal later this year.