JUNE 2, 2017
The Private Investment Summit West, the leading cannabis investing educational summit exclusively targeting high net worth investors and family offices, wrapped up on May 4, 2017 featuring many different companies and entrepreneurs. With the cannabis industry expected to surpass $50 billion by 2026, according to Cowen & Co., investors may want to take note of these companies as consumer adoption continues to rise.
Watch CFN Media’s exclusive interview with Province Brands CEO Dooma Wendschuh:
What is Province Brands?
Province Brands is a Toronto-based premium adult beverage company founded by veteran entrepreneurs from the cannabis and alcohol industries. With $75 million in venture funding for previous projects and 19 Cannabis Cup wins, the team is uniquely qualified to fulfill its mission of bringing a true alcohol-alternative to the market – a potentially-healthier alcohol-free beverage that gives consumers a ‘high’ rather than getting them ‘drunk’.
The company’s flagship products are alcohol-free beers and gins that intoxicate using cannabinoids rather than alcohol. Using a patent pending process, the company brews beer using cannabis as a substitute for the barley used in traditional fermentation, which helps remove alcohol and infuse a wide array of cannabinoids, including psychoactive tetrahydrocannabinol (THC) and non-psychoactive cannabidiol (CBD).
In addition, the company is exploring ways to shorten the effects of psychoactivity to create a dose-response curve for edible cannabis that’s the same as that of alcohol. This way, users can consume beverages or products for a ‘quick hit’ or over a long period of time without the multi-hour commitment required when using existing cannabis products.
Currently, the company is raising capital from accredited investors and plans on launching its first products by the end of the year. In the meantime, the company’s management team is leveraging its expertise in the industry is engage in thought leadership and advisory services in conjunction with its fundraising efforts.
About Ryan Allway
Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist.