Panacea Life Sciences, Inc. - the renamed Exactus, Inc. - has said it plans to capitalize on Denver International Airport's (DEN) popularity among travelers to market its Cannabidiol (CBD) products.
Passenger traffic at Denver airport was the third-highest in the world during the first half of 2021 with nearly 25 million passengers, offering many opportunities for travelers to see, try, and buy Panacea's CBD products at its two kiosk locations in B and C concourses at the airport, the company said.
"While some may be hesitant to purchase CBD while traveling, it's important to know that hemp-derived CBD products are legal in all 50 United States, as long as the products contain less than 0.3% THC - a rule which Panacea follows stringently," added Panacea n a statement.
The airport retail space has proven to be a big move for Panacea. In May 2021, the company began to sell its products at the airport, marking the first time that CBD products have been made available for passengers and visitors at the site.
READ: Panacea Life Sciences is an expanding company in the CBD space after Exactus name change
Several studies have found that CBD and other cannabinoids have anti-inflammatory properties, so it is suitable to alleviate the stiff and sore muscles, aches, and pains that flying can bring about, the company said.
Panacea Life carries over 18 CBD products for topical use, including pain relief patches, heating and cooling balm sticks, lotions, lip balm and more. The company is a leader in the production of legal, trace THC, hemp-derived cannabinoid products for consumers and pets that operates a 51,000 square foot cGMP certified facility in Golden, Colorado.
Exactus, Inc. acquired Panacea Life Sciences on June 30, 2021. Panacea was founded by Leslie Buttorff in 2017 and has attracted $20 million in initial investments. In 2019, these were followed up with a $14 million investment from 22nd Century Group, Inc., a leading plant biotechnology company focused on technology to decrease nicotine in tobacco plants and uses its expertise for genetic engineering of hemp plants to modify cannabinoid levels used in manufacturing, including CBD.