Mr. Jay Garnett reports
EXPERION'S BRAND, KANAB GOODS CO., WELL POSITIONED TO TAKE ADVANTAGE OF NEW HEALTH CANADA REGULATIONS
Experion Holdings Ltd. has provided an update on the company's brands positioned to take advantage of Health Canada's final regulations for value-add products (VAPs) such as cannabis topicals, edibles and extracts as well as Health Canada's proposal to create a new category (cannabis health products) for therapeutic treatment of minor ailments such as sleeplessness or sore muscles or for use in pets, paving the way for a large new, untapped market.
Jay Garnett, chief executive officer, commented: "Experion is in continued development of our wellness-centric brand Kanabe Goods Co. for the launch of value-add products (VAPs). There are currently 50-plus existing formulations which we have the ability to produce in our facility, and we are also working with key strategic partners for large-scale commercial rollout. These health and wellness products such as non-intoxicating topicals and microdosed oils are an entry point for new consumers, broadening the market potential. The Experion management team has decades of experience in consumer-packaged goods and is well positioned to be a first mover in this category, which in turn will enable Experion to stand firm in our commitment of unlocking value for our shareholders."
The value-add product regulations come into force Oct. 17, 2019, with product availability earliest Dec. 16, 2019. Furthermore, Health Canada's proposal for cannabis health products opens the door for a bigger opportunity. The proposal looks to treat health and wellness products with cannabis, similar to natural health products, which allows the product to make health claims based on evidence but without the oversight of a practitioner.
Mr. Garnett further commented: "A Kanabe topical balm that is non-intoxicating, for example, could potentially be sold via pharmacies or on-line without the restrictions to have a medical cannabis prescription or buy through a licensed cannabis retailer. The accessibility to purchase is much easier on the consumer, as well as the use of the product much clearer. This proposal further aligns to our educational and public outreach efforts from our cannabis wellness expert and co-founder of Kanabe, Krystal Laferriere, who had created the product line to soothe side effects and other ailments suffered as a result of her Crohn's disease."
Health Canada is asking the public to submit feedback on this new category through a consultation paper until Sept. 3, 2019.
About Kanabe Goods Co.
Kanabe Goods creates therapeutic health and wellness products containing cannabis and has over 50 formulations in its portfolio, including topical salves, lotions, oils, as well as edible oils and capsules. Kanabe products were developed to target and soothe various aliments by combining cannabinoids, terpenes and aromatherapy, with a focus on discretion and ease of use by developing products that are already found in consumers everyday life.
About Experion Holdings Ltd.
Experion Holdings is the parent company of Experion Biotechnologies Inc., a Health Canada-licensed cultivator and processor of cannabis, based in Mission, B.C.; and EFX Laboratories Inc., a medical products production and clinical research company based in Calgary, Alta.
Experion Holdings is invested in a portfolio of products to address a wide spectrum of consumer needs, including medical, adult use, and wellness and therapeutic products.
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