SEATTLE, June 19, 2018 (GLOBE NEWSWIRE) -- CFN Media Group (“CFN Media”), the leading agency and financial media network dedicated to the North American cannabis industry, today announced publication of an article covering 48North Cannabis Corp. (TSX-V: NRTH ) which recently began trading on the TSX Venture exchange as the first vertically-integrated house of brands focused on women’s health and wellness in the cannabis industry. As one of the only publicly-traded cannabis companies with a female CEO, the company is uniquely positioned to target this underserved demographic with innovative brands and top-shelf product.
The Canadian cannabis industry is projected to reach C$22.6 billion over the coming years, according to Deloitte, driven by the legalization of adult-use cannabis nationwide later this year. While most of the roughly 100 licensed producers in the market are focused on marketing to men, the market is starting to realize that women actually account for at least half -- and possibly a majority -- of the overall market.
Women and Cannabis
Men are more likely to use almost all types of illicit drugs, according to the National Institute on Drug Abuse , and have higher rates of dependence on drug and alcohol. Since cannabis has historically been grouped in with illicit drugs under the federal government’s Controlled Substances Act, most people assumed that men were the largest audience for cannabis following legalization, and have skewed their marketing toward that demographic.
According to the Cannabis Consumers Coalition , these assumptions are wrong and companies could be making a big mistake by only targeting men. The organization’s survey found that 53 percent of women consumed cannabis compared to only 42 percent of men. A narrowing gender gap would mirror other national trends, such as the fact that women make a majority of purchasing decisions in households.
Marijuana Business Daily also found that the percentage of women who held executive positions in the cannabis industry was sharply higher than the national average for all companies at 36 percent in 2015. These figures fell to about 27 percent in 2017, but are still higher than the national average of 23 percent across all companies. This suggests that women play an important role in the burgeoning cannabis industry.
48North’s Pure Play
48North Cannabis is an ACMPR licensed producer of medical cannabis with a 40,000 sq. ft. state-of-the-art facility in Ontario, Canada. Management believes that the facility will be capable of producing around 2,500 kilograms of cannabis each year, although it has plans to build out an additional 200,000 sq. ft. facility to boost production to 40,000 kilograms per year on its 800 acres of fully-owned land.
While there are more than 100 licensed producers in Canada, the company sets itself apart with its focus on women’s health and wellness and its high-quality genetics that have been sourced from the Netherlands. Management plans to leverage its intellectual property and proprietary formulations, as well as partnerships with existing U.S. and global brands, to bring licensed products to Canada’s upcoming recreational market -- with a focus on women.
“48North is a future-focused company on track to serve the female health and wellness cannabis market with innovative next-generation products and brands,” says CEO Alison Gordon. “As Canada’s first female CEO of a now publicly-traded licensed producer of cannabis, 48North will provide an intrinsic and authoritative view to a valuable demographic that is currently underserved in this industry.”
Looking Ahead
48North Cannabis Corp. (TSX-V: NRTH ) represents a compelling investment opportunity in Canada’s burgeoning cannabis market. With a focus on women’s health and wellness, the company is targeting a unique and underserved demographic with high-quality cannabis that’s packaged into innovative brands. Investors may want to take a closer look at the company after it recently went public on the TSX Venture exchange.
For more information, visit the company’s website at www.48nrth.com .
Please follow the link to read the full article: http://www.cannabisfn.com/48north-cannabis-co...sed-women/
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