Ayurcann Holdings Corp (CSE:AYUR) has announced a partnership agreement with California-based Green Bee Botanicals to produce CBD and THC infused cannabis wellness products for the adult use market in Canada, with sales set to begin in 2021.
Green Bee Botanicals is a female-founded and owned company with an award-winning line of cannabis topicals, specifically designed to address women’s needs.
Ayurcann said the company's founder, Bridget May, a chemist and botanist, has utilized her knowledge to curate a suite of science-based organic, 100% vegan, paraben/formaldehyde/phthalate-free line of skin care serums, oils and creams.
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"This new partnership presents a great opportunity to bring a well-recognized and trusted brand to the Canadian market, and we are proud to announce another remarkable growth opportunity for Ayurcann,” chairman and CEO Igal Sudman said.
“There is currently a lack of cannabis topicals that speaks to the needs of female consumers, and I cannot think of a product line that does this better than Green Bee Botanicals,” he added.
Green Bee Botanicals products are currently sold in over 55 cannabis dispensaries across the state of California and are available online for home delivery through recognized delivery services across the state.
“Green Bee Botanicals is really a unique brand in the space because our products are designed for women’s facial skincare and there is virtually no one else doing it in the regulated cannabis space today,” May said.
While women still make up the majority of Green Bee Botanicals’ customers, men went from 10% of its customer base in 2019 to 25% in 2020 and now close to one-third in 2021 so far.
“Not only are men’s grooming and skincare the fastest-growing segments in the global beauty industry, but men still make up over 60% of cannabis customers overall,” Green Bee Botanicals co-founder Kim Howard said.
Ayurcann is focused on providing pharma-grade products for the adult use and medical cannabis industry in Canada. It provides proprietary services including ethanol extraction, formulation, product development and custom manufacturing.
The company said that it is working to expand domestic operations while simultaneously pursuing international opportunities in the cannabis industry.
Contact the author at stephen.gunnion@proactiveinvestors.com