Lift & Co. cannabis edibles formats, pub
The federal government just announced regulations allowing new cannabis products to come to market. Navigating what these new products may be and what the regulations mean for Canadian consumers can be challenging. Lift & Co., the company behind CannSell retail training, is here to help.
TORONTO, June 14, 2019 (GLOBE NEWSWIRE) -- 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
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.
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.