- Geyser Brands is building on its mission to help people look, feel and do their best through value-added cannabis product solutions
- The company recently closed on its acquisition of established hemp brands manufacturer Solace Management, adding two-dozen wellness products and 57 SKUs to its stable
- The acquisition adds a 7,500-square-foot, GMP-compliant facility to an existing innovation hub and manufacturing subsidiary in Coquitlam, British Columbia
- Solace recently received approval for sales of a new pain-relief roll-on product following issuance of a natural product number from Health Canada
- The global topical pain relief market is forecast to reach $13.28 billion by 2025, achieving a CAGR of 7.4 percent beginning from 2018
Consumer wellness brand cultivator Geyser Brands Inc. (TSX.V: GYSR) is rapidly building its revenue-generating operation thanks to the September completion of acquisition plans for hemp oil product manufacturer Solace Management, a company whose portfolio includes 57 SKUs of consumer wellness goods and pet care products (http://cnw.fm/f9IK2).
Solace recently moved into its new 7,500-square-foot GMP (Good Manufacturing Practices)-compliant facility in Coquitlam, British Columbia, which is expected to trigger up to a 10-fold increase in the company’s production capacity now that it has a Natural Health Product site license from Health Canada. Solace also intends to develop and license new products that are either ready for production or in various stages of development, since construction of the facility is now complete (http://cnw.fm/3cFof).
Geyser and Solace welcomed yet another marketable product to their stable with the receipt of an NPN (Natural Product Number) from Health Canada for their hemp-based pain relief roll-on, which means that the pain-relief product can now be sold as a natural health product through the company’s Apothecary Naturals line (http://cnw.fm/pSS4h). Health Canada made an assessment of the roll-on and found it to be safe, effective and of high quality when it is used as directed.
“Receiving our NPN supports our vision to develop and build brands based on trust and credibility in an emerging but heavily regulated industry,” Geyser Brands Chairman Brad Kersch stated in a news release. “We now have over 15,000 square feet of GMP-rated manufacturing space and our plans are to increase our capacity significantly in preparation for the next growth phase in the cannabis space.”
The company’s Apawthecary Pets line of products has established itself as a leading source for all-natural hemp-based pet treats, with formulations for snacks, salves and oral drops. Animals, like humans, may suffer from the insomnia, digestive difficulties, pain and inflammation that hemp products are designed to relieve. All of Apothecary’s products are made with organic, cold-pressed and unrefined hemp seed oil extract.
Other Apothecary hemp product lines include Apothecary Naturals for skin care and pain relief, WildTails pet foods and treats, and Apothecary Ink, an antibacterial skin care product for new and old tattoos.
Geyser’s technology is built on a proprietary NanoFusion formulation, which is at the heart of its topical, cream, beverage, baked goods, oil and tincture brands. The formulation, known as NanoFusion Technology, provides a biodelivery system that allows hemp and cannabis products to be rapidly absorbed into the bloodstream for maximum effectiveness (http://cnw.fm/CxYe0).
Geyser’s newest roll-on product is expected to hit store shelves and be available on a direct-to-consumer basis beginning in October. The global topical pain relief market saw $7.48 billion in sales during 2017, and, with the legalization of CBD products on an expanding scale, analysts such as those with Allied Market Research predict that it will expand exponentially, reaching $13.28 billion by 2025 and growing at a CAGR of 7.4 percent from 2018 to 2025 (http://cnw.fm/VqV8z).
For more information, visit the company’s website at www.GeyserBrands.com
NOTE TO INVESTORS: The latest news and updates relating to GYSR are available in the company’s newsroom at http://cnw.fm/GYSR
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