Largest Canadian Cannabis Brand Enters the US Market

After the 2018 Farm Bill legalized industrial hemp, allowing farmers in all 50 states and tribes to grow the crop under state and tribal programs, the cannabidiol (CBD) industry exploded.

With demand for the hemp extract at an all-time high, tons of CBD sellers have flooded the market looking to cash in on the insane demand. Recently, a new player entered the U.S. CBD market in a move that’s sure to rock the industry.

Canopy Growth, valued at $6.4 billion dollars, is the world’s largest legal cannabis company. The Smith Falls, Ontario-based company quietly launched a new CBD brand called First & Free in America.

The brand’s website sells capsules and tinctures, with products ranging from $14.99 to $64.99 in 31 U.S. states. According to the Canopy Vice President of Communications and Media Jordan Sinclair, the site is still in a testing phase but ‘”early signs are positive and some orders have been successfully placed.”

He added that “First & Free products are available for purchase only in states where permissible under state law in order to ensure compliance with state consumer protection mandates, and following the most stringent state laws regarding the sale of CBD to ensure customers have access to CBD products from a trusted source.”

The new U.S. brand stresses the quality of its products, stating that its products have been perfected through its state of the art technology and rigorous testing. The company has also filed 40 provisional patents, conducted 11 therapeutic trials and has more than 900 patients.

The U.S. Food and Drug Administration (FDA) has banned companies from marketing and selling CBD products as food additives or supplements. More than that, companies aren’t allowed to market their products with medical claims, most of which are unproven.

In compliance, the First & Free website has a disclaimer: “These statements have not been evaluated by the Food and Drug Administration. This product is not intended to diagnose, treat, cure or prevent any disease.”

Although this is Canopy’s first foray into the American consumer market, the company runs well known cannabis brands such as Tweed and Tokyo Smoke. Last month, it announced a new range of cannabis infused chocolates, beverages, and vapes.

In January, the world’s largest cannabis company announced that it would invest $100-150 million in a 48-acre New York Industrial hemp park. It broke ground in July, and it plans to grow over 2,000 acres if industrial hemp.

During the event, Canopy Growth’s President said, “This will really become our hub on the East Coast of the United States to do this manufacturing and really scale the business.”

Experts believe that the success of Canopy Growth is the success of the entire cannabidiol industry, so players like Willow Biosciences Inc. (CSE: WLLW) (OTCQB: CANSF) and Plus Products Inc. (CSE: PLUS) (OTCQB: PLPRF) can only tweak their game plan in order to adjust to this new player in the game.

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