Pasha Brands Announces Acquisition of CBD Therapeutics
VANCOUVER, BC (June 24, 2019) – Pasha Brands Ltd. (“Pasha”) (CSE: CRFT) (OTC:CRFTF), Canada’s largest craft cannabis brands organization, has announced the acquisition of the CBD Therapeutics brand – a leading pre-legalization manufacturer and purveyor of cannabidiol (CBD) product based in British Columbia.
Since its inception, CBD Therapeutics has supplied 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 on October 17, 2018, CBD Therapeutics has been preparing to enter the regulated framework. 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.
“Joining Pasha Brands is yet another step forward in our mission of making CBD products more accessible,” said James Whitehead, CEO of CBD Therapeutics. “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,” said Patrick Brauckmann, Executive Chairman of Pasha Brands. “This addition to the Pasha family is yet another indication of the momentum of growth that Pasha is initiating in the new legal cannabis landscape, while remaining committed to those people and brands that operated in the pre-legalization market and who helped establish the industry in Canada.”
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.