- The cannabis beverage market is estimated to exceed $4 billion by 2022
- Sproutly is focused on becoming the leading supplier of water-soluble cannabis solutions and bio-natural oils to the emerging beverage and consumables market
- Company has exclusive rights to Infusion Biosciences’ APP technology in Canada, Australia, Israel, Jamaica and the European Union
Sproutly Canada Inc. (OTCQB: SRUTF) (CSE: SPR) (FRA: 38G) foresees a lucrative vertical emerging in the cannabis sector as the cannabinoid-infused beverages and edibles space continues to grow in popularity with consumers. A report from cannabis market research firm ArcView Research and BDS Analytics projects rapid growth in this arena, with sales of cannabis-derived edibles, which include beverages, expected to surpass $4 billion in the U.S. and Canada by 2022 (http://cnw.fm/0oHtV).
Sproutly’s wholly owned subsidiary, Toronto Herbal Remedies Inc. (“THR”), is already a licensed producer under Canada’s Cannabis Act, and it was recently granted a processing license from Health Canada that allows THR to produce cannabis oil and related products (http://cnw.fm/7q3jJ). Research and development efforts at Sproutly include a scientifically groundbreaking formulation for clear cannabis beverages fortified with water-soluble cannabinoids and terpenes.
Dr. Arup Sen, chief science officer of Sproutly, said in a news release that the company utilizes the proprietary Aqueous Phytorecovery Process (APP) technological platform, developed by portfolio company Infusion Biosciences Inc., to extract water-soluble forms of cannabinoids for inclusion in beverages and edibles. This patent-pending technology, a plant-to-product process that recovers oil-based cannabinoids, in addition to water soluble phytochemicals, can also be used in pharmaceutical drug development efforts (http://cnw.fm/waS40).
“We have completed a substantial amount of formulation work to date with our proprietary, naturally produced, water-soluble cannabinoids, which we have named Infuz2O,” Sen said in the release, adding that THR’s processing license is a major milestone in the company’s bid to commercialize its line of cannabis beverages and edibles. “In addition to the anticipated launch of our cannabis beverages utilizing Infuz2O, we are equally excited about commercializing products containing our Bio Natural Oils, which provide substantially different characteristics than other oil-based products on the market today.”
Bio Natural Oils deliver the full-spectrum of cannabinoids and terpenes of the strain from which they are made, thus empowering consumers to enjoy the experience of their strains of choice in an edible form. Cannabis edibles are quickly becoming a popular option for cannabis consumers, and they even broke into a list of the top 10 food trends of 2018, moving into the eighth position, according to the Specialty Food Association (http://cnw.fm/Wgx7U).
The application of water-soluble cannabis infusions has potential to be widespread in both medicinal and recreational cannabis sectors, giving Sproutly a distinctive edge in a market with untapped potential. Since Sproutly owns the exclusive rights to APP technology in Canada, Australia, Jamaica, Israel and the entire European Union, the company is looking at significant international expansion opportunities.
For more information, visit the company’s website at www.Sproutly.ca
NOTE TO INVESTORS: The latest news and updates relating to SRUTF are available in the company’s newsroom at http://cnw.fm/SRUTF
CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.
To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)
For more information please visit https://www.cannabisnewswire.com
Do you have a questions or are you interested in working with CNW? Ask our Editor