CBD Edibles Companies are Struggling to Keep up With Consumer Demand - Seite 3

Green Thumb Industries Inc. (CSE:GTII)(OTCQX:GTBIF) announced the next phase of its Social Equity License Education Assistance Program (LEAP) which includes programming and one-on-one consultations for Illinois craft grower, infuser and transporter licenses. Applications are due to the state on March 16 and the Department of Agriculture is expected to issue up to 40 craft grower licenses, up to 40 infuser licenses, and an unlimited number of transporter licenses on or before July 1, 2020. Dispensary applications were due January 2 with up to 75 awardees expected to be announced by May 1. "At GTI, we believe it is our responsibility to help reduce barriers to cannabis business ownership for minorities and others most impacted by the war on drugs – and we are so humbled to have provided guidance to more than 200 applicants so far, many of whom applied for dispensary licenses," says GTI Senior Vice President of Government and Regulatory Affairs Dina Rollman. "LEAP was created to offer assistance to those looking to enter this highly competitive industry and to serve as a resource to as many applicants as possible that qualify as a social equity applicant under Illinois law. GTI has had a long history of winning licenses and our team is excited to share our lessons learned and best practices with a new generation of business owners in this burgeoning industry. We can't wait to continue our work with the new round of applicants and those who are awarded licenses."

Green Growth Brands Inc. (CSE:GGB)(OTCQB:GGBXF) shared statistics from its first full holiday season and from its second fiscal quarter ended December 28, 2019. Over 128,000 Seventh Sense Botanical Transactions were processed between Black Friday and December 28, 2019. Seventh Sense offered three holiday-exclusive items: the Pebble Lip Balm, Therapeutic Starter and the Lip and Body gift sets. Bestselling Seventh Sense products included the 1,500 mg Hyperstrength Cream, the Therapeutic Starter gift set and the Unwind Sleep Blend Roll-On. Over 85,000 consumers received a Seventh Sense direct mail piece detailing the product line and holiday offerings. The Seventh Sense customer database grew by 42% between Black Friday and December 28, 2019. As of December 28, 2019, the Company operates 195 mall-based Seventh Sense shops in 35 states, including 54 new shops that opened during second quarter fiscal 2020. "Our ability to capitalize on the holiday shopping season is a reflection of our retail and operations expertise," said Peter Horvath, CEO of Green Growth Brands. "We are pleased with the performance of both business segments and particularly excited by the consumer demand signals we saw in CBD. We have brought together high-quality CBD, high-efficacy personal care formulations, familiar packaging, top-tier retail presentations, and fair, everyday-value prices to create products that consumers from all walks of life are really responding to.