SEATTLE, March 13, 2019 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — CFN Media Group (“CFN Media”), the leading agency and financial media network dedicated to the North American cannabis industry, announces publication of an article covering Indiva Inc’s (TSX-V:NDVA) strategic position in the extracts market. As the cannabis industry matures, extraction is becoming an increasingly important part of any successful venture, as consumers have proven they are more interested in derivative products than simply smoking flower. Extracted cannabis oils, both THC and CBD, are a critical component in a wide array of products in the medical and recreational markets.
Looking to hit the ground running when Canada legalizes edibles and other derivative products as early as October 2019, London-based INDIVA Limited (TSX-V:NDVA), a licensed supplier of medical-grade cannabis, is working to diversify its brand and enable its own in-house extraction.
According to Health Canada figures, cannabis oil in Q1 2018, months before the legalization of recreational cannabis, outsold flower by 56 per cent as medicinal patients looked to concentrates to alleviate a range of symptoms from chronic pain to seizures, and health practitioners preferred concentrates which enable more accurate dosing.
A report published last year by BDS Analytics and Arcview Market Research showed cannabis concentrate sales in adult legal markets have dominated retail sales, representing the fastest growing segment of the industry, ahead of both flower and edibles due to ease of use, discretion portability, and potency. The report estimates the sale of concentrates alone will bring in $8 billion by 2020, the majority in the form of vape cartridges, which are seen to be beginner-friendly and easily branded.
The Indiva brand currently includes pre-rolls, accessories, and soon tinctures and capsules, but a range of other products has already been