We are an industry-leading cannabis brand, known for its pure, potent THC concentrate products. Why did we decide to branch into the CBD market?
We’ve spent five years building our THC product line. It wasn’t a difficult decision to bring The Clear into the cannabidiol, or CBD marketplace.
The Clear already holds a significant percentage of the vape cartridge market in the cannabis concentrates industry. But, CBD products give us even more options and flexibility. That’s what is fueling our expansion into America’s robust CBD market.
First, clinical data on the positive effects of CBD on various medical conditions continue to roll in. In December 2018, the World Health Organization issued an important report stating CBD is not harmful. The report also claims that it has health benefits and does not have abuse potential, among other findings. There have been years of anecdotal evidence supporting these claims. It’s promising for us to have important reports like this being published at this point in time.
The Legality of it All
Second, the U.S. Food and Drug Administration, or FDA, is beginning to open the door to cannabidiol products. Recently, GW Pharma was approve to create an advisory panel in April. This panel unanimously voted in favor of approving a cannabis-derived CBD medication. Epidiolex is for treatment of certain forms of epilepsy.
Third, more states are legalizing cannabis in various forms. Low-THC or CBD-only laws have been enacted in at least 15 states, according to the National Conference of State Legislatures. The Senate, meanwhile, has fast-tracked Sen. Mitch McConnell’s bill that would nationally legalize hemp, which would vastly improve the domestic economics of hemp-derived CBD. Awareness of CBD products and their benefits will only continue to grow. More people are encountering legalized medical marijuana, medical hemp and patients using these products.
Modern cannabis is consumed in a number of different ways, including edibles and tinctures. Non-smokable cannabis products are a key component of state medical marijuana laws. Particularly in places like Minnesota, Texas, Florida and New York.
Vaporized cannabidiol fits the bill nicely.
We are encouraged by the 29 states that allow medical marijuana and the nine that have legalized adult-use cannabis. We believe consumers in every state should have access to potent, pure cannabis extracts now. So, we extract our CBD from US-grown hemp that is certified compliant with the 2018 Farm Bill.
The terpenes that give our products flavors like Orange Creme and Potent Pineapple are not cannabis-derived. So, we can send products that incorporate them in most states and many countries.
We believe The Clear will become a CBD market leader, just as it has been in state-regulated THC marketplaces. Initial sales figures in these Arizona, Colorado and California tell us that our move to CBD is the right one. In Colorado and California, we exceeded our THC sales in just a matter of months. Thi was without marketing, simply making these federally-legal products available. As we start to market these products, the potential grows larger.
As the volume of CBD sales rises, it augments the THC side of our business. Ergo, boosting brand awareness. As consumers become familiar with the superior technology and unique flavors of our CBD products, they can easily move over to our THC offerings in state-regulated dispensaries. It’s a force multiplier for our business.
There is powerful potential in distribution to unregulated vendors where CBD products are selling. Places like pharmacies, smoke shops, retail health-and-wellness businesses, spas, and more. The cannabis product trend is not just domestic.Our partners are planning to bring our products to Europe and Japan, and then to other markets in Asia.
Consumers are also hungry for science-based, lab-tested CBD products. This provides positive experiences for those who have not found success with inconsistent off-the-shelf CBD products. Reliability, efficacy and quality are key for consumers. With products like The Clear, consumers know how much CBD they are consuming with each puff of the vaporizer.
There are so many potential benefits, applications and avenues for these products. Such as, providing relief for those suffering from chronic pain or terminal illnesses, to killing a craving for nicotine. In the coming years as we continue to expand cannabinoid research and develop new methodologies for producing extracts, we believe the market has limitless potential. We are bringing a better CBD product to the market for these customers and patients.