In 2023, cannabis consumer taste will become more sophisticated as brands like Wana work to educate customers on the many potentials of the plant

Boulder, Colo. (December 22, 2022) – Wana Brands leadership predicts that the legal, regulated cannabis industry will expand its consumer base by investing in product innovation, including unique cannabinoid formulations to meet specific wellness needs. Product education will receive significant emphasis in 2023 as brands such as Wana seek to engage with consumers curious about the plant’s potential. However, lack of regulatory enforcement in new markets, such as New York, will pose an ongoing challenge to the cannabis industry in 2023.

Growing the consumer base

The popularity of the innovative Wana Quick Fast-Acting Gummies – which onset in approximately 15 minutes and offset in about three hours – has demonstrated that consumers are craving true innovation in infused cannabis products. Likewise, Wana Optimals – a line showcasing calibrated cannabinoid blends to address specific use cases like better sleep – has demonstrated that the maturing cannabis consumer is looking to manage their wellness needs with increasing precision. In 2023, Wana Brands will continue expanding its Optimals line, which currently includes Optimals Fit, Fast Asleep and Stay Asleep. In addition, reaching consumers through effective education will be critical to explaining the potential of cannabinoids beyond THC.

“Consumers will increasingly recognize the value of cannabis brands that meet specific needs and enable specific experiences rather than evaluating products purely on which ones have the highest level of THC for the lowest cost,” said Nancy Whiteman, CEO of Wana Brands. “The quality of the experience will drive brand choice as consumers become more experienced and discerning when assessing their cannabis options.  Ultimately, I think we will see consumers understanding that ‘value’ is about much more than low cost, high THC products.”

A competitive market will shine a light on quality

Even as Wana Brands works to achieve national recognition – adding four additional markets for a presence in 14 states, Puerto Rico and nine Canadian provinces – lack of federal guidance will remain a challenge. The cannabis industry must tackle a litany of regulations  – from marketing to banking – unlike any other CPG sector. Most urgently, companies such as Wana continue calling on Congress to pass SAFE Banking so the sector can function like any other regulated and taxed industry. However, the calls continue to fall on deaf ears in Washington, DC, with the likelihood of any helpful federal action unlikely in the foreseeable future.

Lack of regulatory enforcement in key states, such as New York, has allowed the illicit market to flourish while handcuffing legal, tax-paying operators. From bodegas to gifting stores, anybody who wants to sell cannabis illegally is doing just that, with none of the regulation or taxation that comes with being part of the legal market.

“As states like New York allow the illicit market flourish on every street corner, they are creating a bigger issue when the legal market comes online, setting up a situation where legal, safe, regulated brands will be behind from the beginning, adding the double whammy of lack of enforcement coupled with high taxation,” Whiteman said. “New York’s potency tax could add $6 per a hundred-milligram edible at retail. And that’s before you get into the cost of actually producing it. It’s untenable and it will make it much more difficult for legally produced brands to succeed.”

Standing with Community

In 2023, the cannabis industry will continue to provide unprecedented support in communities where the sector operates. Beyond simply tax revenues, the cannabis community has committed extensive resources to address some of the most challenging social issues. One example of this work will be the continued efforts of the Wana Brands Foundation, a $50 million charitable organization working to provide people with the resources they need to live happy, healthy lives. Established in 2022 by Whiteman with the proceeds of the sale of Wana to Canopy Growth Corp., the Wana Brands Foundation’s areas of focus include Research & Education, Food Security, Shelter, Safety, Mental Health, Sustainability, Community Connection and Social Justice.

With the prospect of publishing authoritative research on the potential of plant medicine, initial gifts included a $2 million gift to Johns Hopkins University Department of Psychiatry and Behavioral Sciences in support of cannabis and cannabinoid research, as well as a $1 million gift to the Johns Hopkins Center for Psychedelic and Consciousness Research, which focuses on how psychedelics affect behavior, mood, cognition, brain function, and biological markers of health. In 2023, these funds will be used to facilitate studies including the potential use of cannabinoids to treat autism and the effectiveness of psilocybin as a new therapy for opioid addiction, Alzheimer’s disease, post-traumatic stress disorder (PTSD), post-treatment Lyme disease syndrome (formerly known as chronic Lyme disease), anorexia nervosa and alcohol use in people with major depression.

A Bright Future

Despite the challenges, there are many bright spots for the cannabis industry. New states continue to legalize adult-use cannabis, with Missouri and Maryland poised to enact their recreational programs in 2023. Winning brands will look to grow the market through education rather than joining the race to the bottom in pricing. As consumer tastes mature, according to Whiteman and other leaders at Wana, they will recognize the power of the cannabis plant goes beyond intoxication. With access to more research, such as the work being conducted by the Johns Hopkins Cannabis lab, the industry can advance the understanding of the effective use of cannabis for a wide range of health and wellness benefits. These efforts will continue to reach wider audiences with more sophisticated formulations that allow people to achieve specific effects and experiences versus solely seeking the highest intoxication for the lowest cost possible.

For more information or to schedule an interview, please contact Shawna Seldon McGregor at 917-971-7852 or [email protected].

Wana Brands: Enhance Your Life

With North America’s largest distribution footprint, cannabis edibles producer Wana Brands is a top international brand available in 14 U.S. states, the U.S. territory of Puerto Rico and nine Canadian provinces and territories, generating close to $300 million in retail sales annually across more than 3,000 dispensaries. Through industry-leading innovation, Wana is developing cutting-edge use-case formulations and recipes, such as Wana Quick Fast-Acting Gummies, the top-selling quick-onset edible, and the Optimals Fast Asleep formulation. Wana is committed to the communities it serves by supporting more than 50 charitable organizations in the markets where the company operates. For more information or to subscribe to Wana’s e-newsletter, visit www.wanabrands.com. Follow Wana on LinkedIn, Twitter, YouTube and Pinterest. Subscribe to Wana’s Enhance Your Life Podcast.

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This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

REHOVOT, Israel and BETHESDA, MD, Nov. 8, 2022 /PRNewswire/ — CNBX Pharmaceuticals Inc. (OTCQB: CNBX), a global leader in the development of cancer related medicine, announced today that it has acquired a controlling interest in TaGeza Biopharmaceuticals Ltd. The TaGeza research team remains committed to the company, and co-founder Prof. Benjamin Dekel (MD, PhD) will continue to serve as the company’s Chief Scientist; CNBX Chairman, Gabriel Yariv, to assume the position of TaGeza Biopharmaceuticals CEO.

TaGeza was founded in 2014 by a medical team from Sheba Medical Center, Israel’s largest hospital, led by Prof. Benjamin Dekel (MD, PhD), and under a research collaboration agreement with the Sheba Medical Center.

TaGeza is a developer of next generation immunotherapy and cancer-targeted therapies. The company is currently developing novel Antibody Drug Conjugates (ADCs) based on novel monoclonal antibodies (mAbs), targeting specific types of cancer by way of targeting the subpopulation of highly tumorigenic cancerous cells, known as Cancer Stem Cells (CSC) or Tumor Initiating Cells (TICs). Patients undergoing more conventional therapies such as chemotherapy enjoy a reduction in tumor size but can often relapse and even develop a more aggressive disease, in part due to the residual population of chemotherapy-resistant tumor cells are enriched by CSCs or TICs. Therefore, targeting CSCs/TICs can help improve patient outcome and reduce relapse caused by their aggressive self-renewal and tumorigenic properties as well as their resistance to more conventional therapies.

The usage ADC therapies is already well established, and growing, as they become increasingly noticeable in the oncological therapeutical global market with 11 Antibody Drug Conjugate therapies already cleared for marketing globally, and with 6 of which that have been cleared for marketing during the last 3 years alone. The main usage of ADCs today is in hematology and in solid tumor therapy. A Market analysis by Nature from August 2021, shows several of the available ADCs as having annual sales of over $1B, and a forecast that the combined annual sales of the currently marketed ADCs will surpass $16B by 2026.

Prof. Dekel (MD, PhD) is the Head of the Israeli Stem Cell Society, and heads the Pediatric Nephrology Division and the Pediatric Stem Cell Research Institute at the Sheba Medical Center. He is also Associate Dean for Clinical Research Innovation and Development and Director of the Center of Regenerative Medicine, at Tel Aviv University.

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About CNBX Pharmaceuticals:

CNBX Pharmaceuticals Inc. (OTCQB: CNBX) is a U.S. public company and a global leader in the development of cancer related cannabinoid-based medicine. The Company’s R&D is based in Israel, where it is licensed by the Ministry of Health to conduct scientific and clinical research on cannabinoid formulations and cancer. For more information, please visit www.cnbxpharma.com. For the latest updates on CNBX Pharmaceuticals follow the Company on [email protected], [email protected], LinkedIn https://www.linkedin.com/company/cnbx, and on Instagram @CNBX_Pharmaceuticals.

Disclaimer:

Certain statements contained in this release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other U.S. Federal securities laws. Such statements include but are not limited to statements identified by words such as “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “targets,” “projects” and similar expressions. The statements in this release are based upon the current beliefs and expectations of our Company’s management and are subject to significant risks and uncertainties. Actual results may differ from those outlined in the forward-looking statements. Numerous factors could cause or contribute to such differences, including, but not limited to, results of clinical trials and other studies, the challenges inherent in new product development initiatives, the effect of any competitive products, our ability to license and protect our intellectual property, our ability to raise additional capital in the future that is necessary to maintain our business, changes in government policy and regulation, potential litigation by or against us, any governmental review of our products or practices, as well as other risks discussed from time to time in our filings with the Securities and Exchange Commission including, without limitation, our latest 10-Q Report filed July 14th, 2022. We undertake no duty to update any forward-looking statement or any information contained in this press release or other public disclosures at any time. Finally, the investing public is reminded that the only announcements or information about Cannabics Pharmaceuticals Inc., which are condoned by the Company, must emanate from the Company itself and bear our name as its source.

For more information about CNBX:

CNBX Pharmaceuticals Inc.
+1 (877) 424-2429
[email protected]
https://www.cnbxpharma.com

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.