THC BioMed readies for Cannabis 2.0
Published on October 18, 2019 by oz. staff
Discreet and less stigmatized, edibles and drinks are just around the corner
Kelowna-based cannabis producer THC BioMed wants to capitalize on the next step in legalization.
The company’s drink — called THC Kiss — promises “to deliver where all other similar products have failed.” New cannabis products will hit the market as early as mid-December.
As cannabis 2.0 became law this week opening up the process, THC BioMed is moving forward with its beverage plan, submitting an application to Health Canada to add new products to its licence.
“THC BioMed has always been focused on producing quality products and we are entering the segment of cannabis edibles, topicals and extracts with the same approach,” said CEO John Miller.
There will be choices
Many cannabis producers are getting ready to step into this new market with vape cartridges, shatter, sweets, baked goods, cremes, and many other kinds of cannabis goods.
Big companies including Aphria, Aurora and Canopy, which is owned in large part by beverage giant Constellation Brands, are preparing to launch new products.
Fresh new faces to the game will no doubt jockey for position.
The Canadian market for cannabis edibles, topicals and extracts is worth an estimated $2.7 billion per year, with edibles representing more than half that amount, according to a report from Deloitte. This spending is expected to be in addition to the approximately $6-billion estimated domestic market for recreational and medical cannabis.
As per Health Canada regulations, edibles can contain no more than 10 milligrams of THC per package. (For example, a chocolate bar with 10 pieces cannot contain more than one milligram per piece.) There is no limit on CBD for edibles.
Extracts meant for inhaling refer to concentrated cannabis extracts (including shatter, budder, wax, rosin), and other products meant to be “dabbed” or used in a vaporizer or vape pen.
Topicals refer to any cannabis-infused product meant to be applied to the skin, hair, or nails. Health Canada has limited the amount of THC per package to 1000 milligrams.