Salvation Botanicals, Ltd. and Medical Marijuana, Inc. have taken initial steps to form partnership that will bring our company into the Canadian medical and recreational markets.
Medical Marijuana, Inc. has signed a non-binding Letter of Intent (LOI) with Salvation Botanicals, Ltd. to bring its internationally recognized cannabis products to the quickly growing Canadian cannabis market.
“We’re excited to announce this collaboration with a company that is known for dedication to the production of trustworthy and reliable cannabis-based products,” said Medical Marijuana, Inc. CEO Stuart Titus. “We feel confident that the company’s analytics and science focus will provide us with the best products available in Canada.”
Medical Marijuana, Inc. plans to bring its popular line of CBD products to the Canadian market, potentially offering industry-leading brands like Real Scientific Hemp Oil™ (RSHO™), Dixie Botanicals®, and Cannabis Beauty Defined® in the country.
Titus continued, “We’re also excited to expand our product offerings from exclusively CBD products to now include tetrahydrocannabinol (THC) products as well, giving us the opportunity to utilize the entire cannabis plant and its many beneficial cannabinoids.”
A New Partnership
Under the terms of the LOI, Salvation Botanicals will leverage its licensing and production capabilities based near Vancouver, British Columbia, to bring Medical Marijuana, Inc.’s cannabis industry experience and leading international research to the Canadian market.
In addition to offering products from our popular CBD oil brands, Medical Marijuana, Inc. will have the opportunity to develop products that contain significant levels of THC in Canada.
Salvation Botanicals is a leader in the evolving Canadian cannabis market. The company offers high-volume production methods and an analytical lab to ensure consistent potency of their cannabinoid products and to protect their products from contamination.
Incorporated in 2011, the Salvation Botanicals operates one of the first fully licensed Analytics Laboratories in Canada, accredited by Health Canada to test cannabis and derivative products for Licensed Producers (LP’s) and Access to Cannabis for Medical Purposes Regulations growers (ACMPR), as well as approved Cannabis patients. The company is also approved as a contract extract producer, with authority to extract and produce oil, capsules and tinctures within Health Canada guidelines.
“We are honored to bring the Medical Marijuana, Inc. products and research pedigree to the Canadian market,” said Salvation Botanicals CEO Cliff Wiltshire. “Our companies have pioneered the industry on either side of the border and we welcome the opportunity to bring our common vision closer together. We share a commitment to delivering the highest-quality products and bringing the benefits of cannabis to the market.”
Medical Marijuana, Inc. Names New Director of Canadian Operations
Kenneth Smith has been hired as Medical Marijuana, Inc.’s Director of Canadian Operations. In this new role, Smith will be tasked with overseeing our expansion into the growing Canadian medical and recreational markets, including the introduction of existing Medical Marijuana, Inc. products, development of new cannabis brands, and the creation of distribution pipelines in the country.
“I’m excited to help spearhead the future of Medical Marijuana, Inc.’s presence in Canada with this new position,” said Smith. “I’ve been working closely with our Canadian partners to come up with many out-of-the-box ideas to meet the increased demand for high-quality products in Canada.”
Smith is a Harvard Business School graduate and has held executive positions in a variety of different industries throughout the U.S. Smith is also the owner of the ethically-sourced hemp clothing and accessory company Hempy’s.
Canadian Cannabis Market
Canada recently became just the second country to legalize recreational cannabis use at a national level. The Cannabis Act, also known as Bill C-45, creates a national regulatory framework and makes it legal for adults 18 years and older to purchase and possess cannabis products.
While much of the focus in recent weeks has been on recreational marijuana legalization, another effect of Canada’s Cannabis Act is that hemp farmers will be able to sell their crops to licensed producers for CBD extraction, a shift away from a previous policy that banned the creation and distribution of CBD from hemp flowers in Canada. InnoTech Alberta has predicted the overall Canadian hemp industry could be worth $1 billion a year by 2023, with a large percentage of that coming from the sale of CBD products.
The fully legalized cannabis industry in Canada, including the medical and recreational cannabis markets, is expected to break $5 billion in Canadian dollars by 2021 under the new regulation in the Cannabis Act.
There is more developments to read about Medical Marijuana, Inc. and our family of companies on our news feed.