TEAM MEMBER SPOTLIGHT / CARTE BLANCHE MAY 19, 2017

 Dooma with internationally known DJ Paul Okenfold, Troy Dayton and Liana Gilooly of the Arcview Group

Dooma with internationally known DJ Paul Okenfold, Troy Dayton and Liana Gilooly of the Arcview Group

Dooma Wendschuh

For my carte blanche, I'm sharing the full text of my keynote from the O'Cannabiz Confernce on April 21.  I don't usually print my speeches - and I write them in a hurry - so there are A LOT A LOT A LOT A LOT of typos. Please be understanding.   If you'd like to see the powerpoint which went along with it, please send me an email and I'll forward it to you.  

Here it is:

<<<SLIDE: boot camp. >>>

22.6 Billion Dollars.

<<<SLIDE: $22.6 BILLION DOLLARS>>>

According to Deloitte, that’s going to be the size of the legal Cannabis industry in Canada in the next few years.

<<<SLIDE: DELOITTE>>>

And that doesn’t take into account the fact that Canada is one of the largest exporters of medical marijuana in the world.

<<<SLIDE: cannabis export>>>

Time magazine says the cannabis industry in Canada could be larger than the alcohol industry. 

<<<SLIDE: TIME MAGAZINE>>>

So this is boot Camp. 

<<<SLIDE: Boot Camp>>>

My job in the next 23 minutes is to teach you what you need to know to survive in this industry.  To take what’s up here.  And get it all into your heads.

<<<SLIDE: Vulcan Mind Meld>>>

And 23 minutes isn’t nearly enough time.

<<<SLIDE: time >>>

We’re going to move fast.

We’re going to start more than half a billion years ago and stop with a look into the future.

<<<SLIDE: timeline >>>

I’m even going to tell you about the groundbreaking business I’ve just started here in Toronto. .

That’s a lot of ground to cover.  We will not take breaks.  I’m going to ask you questions. You need to answer them fast. I’m not going Stop to answer any of your questions. We don’t have time for that. 

If you’re gonna take notes, now is the time to get out the pen and paper.

<<<SLIDE: 600 Million years ago The Ediacaran Era >>>

600 millionears ago.  Before Dinosaurs walked the earth.  Most life was in the ocean. 

<<<SLIDE: The Ediacaran Era animals >>>

This is what it looked like.

<<<SLIDE: The Ediacaran Era animals >>>

Pretty weird, right?

Hundreds of millions of years before the cannabis plant even existed.

Can anyone tell me why this is the first stop on out tour through the modern cannabis industry?

Anyone?

Don’t be afraid to yell out answers.  I got to keep going but you’ll get another chance.

This is when those early pre-fish looking things evolved to have an endocannabinoid system. If you want to understand the cannabis industry you need to first understand the endocannabinoid system.

<<<SLIDE: The birth of the endocannabinod sytem >>>

Every animal on earth – except for insects – has an endocannabinod system – because we all had these common ancerstors.

<<<SLIDE: weird fish like thing.  >>>

It is an intracellular signaling system. It’s how cells communicate with each other – through the release of compounds called endocannabinoids. 

<<<SLIDE: list of enocannabinoids: anandamide2-Arachidonoylglycerol (2-AG) Palmitoylethanolamide  >>>

This system is extremely important:

<<<SLIDE: Memory, Neurogenesis (basically the creation of brain cells), Apetite regulation, Exploration, social behavior, depression and anxiety, Immune function, Female reproduction, Pain management, Autonomic nervous system, Thermoregulation (whether you feel hot or cold), Sleep >>

It promotes homeostasis.

<<<SLIDE: definition of homeostasis  >>>

But if you end up in pain, your endocannabinoid system might respond by causing your body to produce slightly more palmitoylethanolamide. 

<<<SLIDE: Palmitoylethanolamide fights pain & inflamation >>>

If you contract an ailment which attacks your nervous system, you’re your might produce more 2AG.

<<<SLIDE: 2AG is involved in the function of the nervous system >>> 

But what about Anandamide? 

<<<SLIDE: Anandamide the bliss molecule >>> 

This is a chemical your body produces which literally gets you high – like blissed out, euphoric, high.  Why did our bodies even develop this ability to make ourselves high? 

The answer lies in the outliers – the unusual instances where our endocannabinoid systems cause our bodies produce massive amounts of anandamide.  Typically times of extreme stress or fear.   At first glance, that doesn’t seem to make any sense.  If you’re running from the bear,

<<<SLIDE: bear >>> 

 you don’t want to get high – you want to be calm, focused alert. 

But think instead about child birth

<<<SLIDE: childbirth >>> 

It’s is tremendously painful – or it would be, if it weren’t for our endocannabioind system.

In addition to producing massive amounts of Palmitoylethanolamide to help with the pain, a delivering mother’s endocannabinoid system produces a tremendous amount of anandamide.  This “bliss molecule” gives her a sense of euphoria –  promoting love and adoration for the baby. 

<<<SLIDE: happy mother >>> 

This is why the mother doesn’t hate the child for causing her so much pain.  She doesn’t hate the father for putting her through all of this.

<<<SLIDE: newborn baby family >>>

How about another example: Ever been in a life threatening car accident? 

<<<SLIDE: car accident >>> 

Afterwards did you have that moment where you were just SO happy to be alive?  The air felt a bit crisper, you could feel the breeze on your skin, the warmth of the sun on your body? That euphoric feeling – is likely anandamide in your system.

<<<SLIDE: Mouse >>> 

They did a study with mice which had been bred specifically so they would not produce anandamide.  They put a cat in the cage with these mice and they run and hid. 

<<<SLIDE: scary cat >>> 

In the control group –  normal mice which produced anandamide – once the cat was gone, the mice would come out of hiding. 

<<<SLIDE: mouse >>> 

But for those mice who could not produce anandamide, when they took the cat away, the mouse would stay in hiding.  In many cases, the mice starved to death, afraid to go out into the open to eat its food. 

<<<SLIDE: mouse skeleton >>> 

Now think of that car accident. In a world where there was no anandamide, you would likely never get in a car again.  Now do you see the important role anandamide and the other endcannabinoids play in the survival of humankind?

<<<SLIDE: Darwin: Survival of the fittest >>>

You’re probably wondering what does all this have to do with cannabis & the cannabis industry? 

<<<SLIDE: What does this have to do with the Cannabis industry >>>

Well cannabis – whether it’s marijuana or hemp – is just a plant which happens to create chemicals which just happen to fit into the same receptors in our cells which were designed to receive enodocannabinoids.  There are about 114 of these compounds in the cannabis plant they’re called “phytocannabioinds”.  

<<<SLIDE: so far 114 phytocannabinoids have been identified in marijuana & hemp >>>

And when you consume phytocannabinoids your body CAN’T TELL THEM APART from the endocannabinoids your body makes naturally.  When you consime THC, for example, it binds the cannabinoid 1 receptor which is designed to receive anandamide.  And your body can’t tell the difference – so you get that same blissful feeling you would normally get with anandamide.

Many of these phytocannabioinds appear to have unique medical benefits or create unique psychoactive sensations either on their own, or when combined with other phytocannabinoids or terpenes.

<<<SLIDE: Phytocannabinoids – wheel of medical effects >>>

These compounds and what you can do with them in a recreational or medical setting is what the cannabis industry is all about.

<<<SLIDE: Cannabis Industry >>>

Over millennia, early civilizations began to figure this out and cannabis was used medically in ancient

china,

<<<SLIDE: DATE: Cannabis in China >>>

ancient Egypt,

<<<SLIDE: DATE: Cannabis in Egypt >>>

india, and other cultures. 

<<<SLIDE: DATE: Cannabis in india >>>

By the early 1900’s

<<<SLIDE: DATE: 1900’s>>>

there were more than 2,000 so called patent medicines available in the USA containing cannabis.

<<<SLIDE: DATE Cannabis became illegal across north America by the 1930’s >>>

In the 1940’s renowned chemist Roger Adams made a very important discovery. Anyone know what that is?

<<<SLIDE: DATE 1940 >>>

Anyone?

In 1940 Roger Adams discovered two compounds in the hemp plant – Canabadiol and Tetrahydrocannabinol.  He didn’t know their structure and we still hadn’t discovered the endocannabinoid system – so, and he didn’t know their medical properties, but he determined that THC was more abundant in marijuana than in hemp, and that it had a pronounced psychoactive effect. 

<<<SLIDE: DATE 1940 Roger Adams discovered THC & CBD >>>

This talk is supposed to be about the cannabis industry.  But the truth is there’ not one cannabis industry.  There are actually 4 distinct industries,

<<<SLIDE: Four distinct industries>>>

each with their own rules and opportunities. I’ll tell you about all four before we’re done here today, but Roger Adams’ discovery of cannabidiol in hemp was the beginning of one of these industries. 

<<<SLIDE: THC was already illegal in the USA by 1940, but CBD was not>>>

We’ll call this the medicinal or neutraceutical hemp industry.

<<<SLIDE: Cannabis industry #1: Hemp and Neutraceutical >>>

Of course hemp is used for all kinds of things like clothing and hemp concrete, etc.  But what we’re interested in today is the intersection of the hemp and marijuana industries.  Many of you know this but hemp and marijuana are exactly the same plant. 

<<<SLIDE: hemp and marijuana are both cannabis and any of the 114 phytocanabnoids can be found in either hemp or marijuana (even though marijuana generally has more phytocannabinoids than hemp)>>>

Plants in the species cannabis indica, cannabis sativa, and cannabis ruderalis can be either marijuana and hemp-

<<<SLIDE: each type of cannabis can be hemp or marijuana>>>

depending on how much Tetrahydrocannabinol they contain. If there’s less than .3% THC, that plant is called hemp.  That’s it.  That’s the only difference.

In most strains of what we call hemp or industrial hemp, cannabadiol is the most abundant phytocannabinoid.  Since many governments don’t regulate cannabadiol – or any cannabinoid from the cannabis plant other than THC,

<<<SLIDE: Cannainoids other than THC are not regulated by most governments.  Canada, Australia, New Zealand have regulated these compounds historically and continue to do so.  The USA began regulating just CBD in 2017>>>

a massive international industry has sprung up around the cultivation and processing of hemp for CBD, and other cannabinoids which are believed to have health & wellness benefits and which are perfectly legal to ship internationally.

<<<SLIDE: CBD products>>>

As more companies enter the industry, prices are falling.  3 year ago, purified CBD at 99.9% purity was selling for $40,000 US DOLLARS per kilogram. Now you can get the same quality product for $12,000 US Dollars per kilo.

<<<SLIDE: cbd brick>>>

CBD products, including pills and vapor pens are everywhere, available online,

<<<SLIDE: CBD>>>

Some Canadian companies are making CBD enriched protein bars

<<<SLIDE: lexaria>>>

Energy drinks

<<<SLIDE: hemplify>>>

And it won’t be just CBD for long.  We’re starting to see more and more CannaBiGerol products on the market at prices as high as $200,000 per Kilogram

<<<SLIDE: CBG is next>>>

and we’re seeing more strains of hemp which express lots of CBG. For as long as these compounds are not regulated or considered safe without a prescription, the neutraceutical or quasimedical market for nonpsychoacive, or minimally psychoactive compounds from hemp will grow.   

<<<SLIDE: DATE: 1964 >>>

Who knows what important cannabis event happened in 1964?

In 1964 Raphael Mechoulam

<<<SLIDE: Meschoulem thc >>>

first determined the actual structure of Tetrahydracannabinol or THC for short. 

<<<SLIDE: Unimed began marketing Marinol, synthetic THC in 1985 thanks to mechulem’s discovery>>>

A few companies started making prescription drugs using synthetic approximations of the THC molecule but no one really understood what they were doing or how this stuff worked until

<<<SLIDE: DATE:  Mechoulem + devane + hanus disvoered the >>>

1992 when Meschoulem along with Dr. William Martin and Dr. Lumir Hanus discovered the 600 million year old endocannabinoid system.  They named the system ‘endocannabinoid’ because it was discovered after cannabis and phytocannabinoids had been discovered.

Understading this made Cannabis a whole lot less scary and set the stage for the modern medical marijuana industry. 

So who knows what happened just four years later?  Anyone?

<<<SLIDE: DATE:  1996>>>

California’s legalization of medical marijuana was the beginning of

<<<SLIDE: DATE:  California legalizes medical marijuana>>>

the modern “medical marijuana” industry.

<<<SLIDE: The Medical Marijuana Industry>>>

Today there are around 30 countries, and 44 states in the USA which allow Medical Marijuana.

Medical marijuana markets are markets wherein a doctor can write a recommendation and the patient can go to a place like a dispensary or compassion club or an online retailer and purchase marijuana freely. 

<<<SLIDE: Perscription vs. reccomendation>>>

A recommendation is different from a prescription because it typically just gets you in the door at the dispensary or allows you to sign up to buy cannabis online.   

In most cases, it doesn’t specify exactly which marijuana-derived product you must buy and how much you must take.

<<<SLIDE: The Medical Marijuana Industry in Canada>>>

Canada actually has two medical marijuana programs.  The Medical Marijuana Access Regulations were passed in 2001

<<<SLIDE: STONER>>>

These days, the MMAR regime is basically a system which allows individuals to legally grow their own cannabis, and also serve as a designated grower for others who can’t or don’t want to grow their own.  The MMAR does not allow for the sale of cannabis for profit, although the dispensaries which are popping up all across Canada claim that they are protected by the MMAR.

<<<SLIDE: Dispensary raids>>>

The federal government views these dispensaries as illegal and has been working with provinces to raid or shut them down.  Since this is a business conference, I have to assume most of you are not here to learn about the MMAR, but are more interested in the ACMPR.

<<<SLIDE: date 2013 MMPR was enacted and soon replaced by the ACMPR >>>

The “Access to Cannabis for Medical Purposes Regulations” are the legal framework for buying and selling medical cannabis in Canada. Canopy Growth Corporation, Aphria, Aurora, Organigram and all the publically traded cannabis companies with market caps in the hundreds of millions or billions of dollars are licensed under this program.

<<<SLIDE: something about the stock market>>>

In Canada, there are three types of licenses: 

<<<SLIDE: three types of license>>>

A Licensed Producer is a company which can grow and sell cannabis. 

A “Growers License” enables you to grow and sell to LP’s but not sell to the consumers directly.

A Licensed Dealer can perform extractions and do other scientific work on cannabis, but cannot sell directly to consumers. They have to sell their product to an LP who can then sell it on to Consumers.   This license is also used by laboratories who perform analysis of cannabis products.

Licenses in Canada take a long time to obtain.  An LP license can take 2 years or more. LD licenses can take almost a year. They also cost a lot of money. 

<<<SLIDE: map of the USA>>>

South of the border, each state in the USA has it’s own rules when it comes to medical cannabis.  In most states, there are four types of licenses:  a cultivation license, a license to make products from marijuana,  a license to sell marijuana in a dispensary, and a license to operate a testing faciity.  There are also a few states that issue distribution licenses.  In some states, getting a license to work with cannabis is as easy as filling out a form and getting a background check.  In other states, they limit the number of licenses, and it is nearly impossible.

<<<SLIDE: where legal 1>>>

<<<SLIDE: where legal 2>>>

<<<SLIDE: where legal 3>>>

<<<SLIDE: where legal 4>>>

<<<SLIDE: where legal 5>>>

<<<SLIDE: where legal 6>>>

<<<SLIDE: where legal 7>>>

<<<SLIDE: where legal 8>>>

<<<SLIDE: where legal 9>>>

Internationally, there are multiple countries where medical marijuana is legal and international law allows for the transport of medical cannabis between these countries,

And we’re beginning to see a thriving export and import market develop in the medical cannabis space. 

<<<SLIDE: 1961 single convention>>>

This means the cost of medical cannabis will come down as countries with lower cost of production ship to countries with higher production costs.

<<<SLIDE: 1961 single convention part 2>>>

While the USA does not participate in the treaty allowing import and export of medical cannabis, Canada does.

In 1998 GW Pharmaceuticals was founded in the United Kindgom

<<<SLIDE: DATE 1998 the birth of the pharmaceutical cannabis industry >>>

Signifying the birth of the pharmaceutical cannabis industry.  There had been other companies making prescription medicine from synthetic cannabinoids before but GW was the first to use the actual plant.

<<<SLIDE: pharmaceutical cannabis industry >>>

So what’s the difference between the prescription and medical marijuana industries?   Medical marijuana is sold in dispensaries in most countries, or sold on-line here in Canada.  Prescription Cannabis has gone through the requisite government trials and is approved to treat an indication and is sold in an actual pharmacy.  To get this medication, your doctor doesn’t write you a recommendation like for medical cannabis.  He prescribes you a specific medication.

<<<SLIDE: Perscription vs. reccomendation>>>

There are close to 30 countries where prescription cannabis is legal.

<<<SLIDE: Countries where prescription cannabis is legal>>>

Probably the most exciting thing that’s about to happen in the prescription space is that the USA is very likely to soon allow prescription marijuana products if Sativex and Epidiolex are approved in their current trials.  

VANCE TO NEXT SLIDE:  Perscription marijuana – Growth Areas: USA

 This will open the door to the federally legal development and sale of marijuana-based pharmaceutical products across the united states and will have a huge impact the US Cannabis market.

<<<SLIDE: Licensure>>>

To participate in the prescription cannabis industry, you’re going to need a ton of money because your products will need to go through government regulated clinical trials and you’ll need to seek approval to sell your product on a country by country basis.

<<<SLIDE: Clinical trials>>>

If you’re based in Canada, you’d also need an LD license, and if you were thinking of starting one of these companies in the USA, don’t bother.  At present time, this type of research is illegal in the USA.  Some companies are operating under state laws with an intention of making a pharmaceutical product when it becomes legal to do so in the USA. 

<<<SLIDE: cannabis is schedule 1, may be schedule 2 soon>>>

This is a high risk strategy, but one which may pay off in a big way if the U.S. reschedules cannabis to schedule II which, now looks pretty likely.

Al right – Last stop on our timeline.  Who knows what happened in 2012 in the USA?

<<<SLIDE: DATE: 2012 >>>

In 2012 Colorado and Washington became the first jurisdictions in the world to legalize the sale of cannabis for recreational use. 

<<<SLIDE: usa recreational map>>>

There are now 8 US states that have legalized recreational cannabis.

<<<SLIDE: usa recreational map>>>

You’ll notice I didn’t mention the Netherlands.  That’s because cannabis has been decriminalized in the Netherlands but it has never been legalized which is why you don’t see big businesses and lots of investment flowing into that makret. 

<<<SLIDE: netherlands>>>

You can’t say the same for the US recreational industry.  recreational cannabis has received more than $1 Billion US Dollars in investment in 2016 and now generates nearly $4 Billion US Dollars per year.

<<<SLIDE: licensure>>>

Each of the 8 recreational cannabis states has its own rules when it comes to licensure of recreational cannabis, but in general, the licensure rules and requirements are the same as for the medical cannabis markets.

Generally the same sorts of products are allowed in recreational markets as medical markets in the USA and this includes flower,

<<<SLIDE: flower>>>

extracts,

<<<SLIDE: dabs>>>

edibles,

<<<SLIDE: edibles>>>

Topical

<<<SLIDE: topicals>>>

Pills, Sublingual and mucosal delivery mecanisms

<<<SLIDE: sublingual and mucosal>>>

Basically anything you can imagine.  Some states have restrictions on how recreational marijuana can be marketed.

Uraguay became the first country in the world to legalize recreational cannabis, but cannabis is only legal for citizens of the country.

<<<SLIDE: uruguay>>>

Canada has announced that it will be the first country in the world to legalize recreational cannabis for anyone who is of legal age –

<<<SLIDE: date Recreational>>>

jumpstarting an industry which could be worth 10s of billions of dollars in the next few years.

<<<SLIDE: final timeline>>>

A lot of the details are still being worked out, but the legislation – which was unveiled this month suggests that Canada’s current ACMPR Licensed Producers will maintain control of cultivation and production of marijuana products. 

<<<SLIDE: final timeline>>>

Distribution will be handled on a province by province basis.

<<<SLIDE: BRIDGE DUDE >>>

What’s happening here in Canada represents an unparallelled opportunity and a historic moment. 

<<<SLIDE: DATE: The future>>>

While the cannabis industry is still so young, it’s in the midst of a massive transformation. 

<<<SLIDE: This is cannabis 3.0>>>

Part of this transformation is the inevitable commoditization of cannabis & phytocannabinoids. 

<<<SLIDE: cannabis will become a commodity>>>

We’ve seen the price of medical cannabis flower in California fall from near 4,000 US Dollars per LB to around 1,000 US dollars per pound as the supply has been catching up to the demand. 

<<<SLIDE: prices will continue to fall. >>>

As more cultivation capacity comes on line, Cannabis prices will fall just like any other commodity.  Eventually competition from countries with lower production costs will exacerbate this effect. 

<<<SLIDE: international trade will further reduce costs. >>>

Right now these publicly traded licensed producers are trading at insane market caps for the same reason all the gold mining companies on the TSX and TSXV have high valuations – scarcity.  Gold is rare, and because it’s rare it’s valuable. 

For now, cannabis is rare – there are just a few licensed producers and they can’t produce enough to meet the demand. 

But the big difference between cannabis and gold – is that you can always grow more cannabis.

<<<SLIDE: you can always grow more cannabis >>>

We’re in a race to the bottom for commodity cannabis prices.

<<<SLIDE: raceto the bottom >>>

Whie this will hurt cultivators, it will benefit processing companies who make products from cannabis since the cost of their supply will decrease, but their brand equity will allow them to maintain healthy margins.

<<<SLIDE: When commodity prices fall, branded products can stay maintain pricing >>>

The other part of this transformation is already beginning in U.S. states with mature cannabis markets, we’re seeing the demand for marijuana flower fall as the demand for products like edibles, vapor pens, patches and beverages rises.

<<<SLIDE: rise in cannabis products sale>>>

No one likes to step outside to smoke, and while smoking cannabis is generally believed to be non carcinogenic, it can reduce immune system function, lead to lung problems and if you’re rolling a joint the paper can be harmful when burned. 

<<<SLIDE: dangers associated with cannabis.>>>

Plus, cannabis is unpredictable and unreliable. The bud from the top of a plant could be chemically different from the bud from the bottom of the same plant. As a result those two buds could have very different medical properties, or could create different sensations in the consumer.

<<<SLIDE: predictable and reliable>>>

Lastly, cannabis is far from user friendly.  There are literally thousands of strains, with strange names – each with allegedly different medical or psychoactive effects, not to mention different scents and flavours.  It’s very confusing for consumers.

<<<SLIDE: simple>>>

We’re entering a new era. 

<<<SLIDE: this is cannabis 3.0>>>

In cannabis 3.0, the licensed producers, or cultivators need to change if they want to remain industry leadersLook at the sports stadiums across the U.S.  Not one is named after a farm. They’re all named after Brands. 

<<<SLIDE: sports stadiums this is the era of the brands >>>

IN cannabis 3.0, cannabis companies will have to compete not just with each other but with other industries – like the alcohol industry, tobacco, or caffeine. 

<<<SLIDE: compete with other industries>>>

Whenever Province Brands – my company meets with these licensed producers I always use the same metaphor. 

<<<SLIDEL: logo>>>

I sit right across the table from them, look them in the eyes and say:  You know what you are?  You’re a barley farmer.  A long time ago, the primary way people interacted barley grains was as something they would cook and eat.

But these days most of the barley that’s produce is processed to make a beer.

Similarly the era of consumers primarily interacting with cannabis flower directly is drawing to a close.  To use our metaphor, the power is shifting from the farmers who grow the barley to the brands which make the beer.

<<<SLIDE:we make the beer >>>

And if those LPs are the barley growers of the cannabis industry, My company, Province Brands makes the beer.

<<<SLIDE:introducing: Province Brands >>>

This opportunity is what brought me back to Canada after years in the US Cannabis industry

<<<SLIDE:Now is the part where I tell you about my company. This should give you some insight into where the industry is headed >>>

The opportunities associated with this new era is what allowed

<<<SLIDE: we are team province >>>

 me to attract a world class team of

<<<SLIDE: $75 Million raised * for previous projects >>>

Entrepreneurs and early employees

<<<SLIDE: 4 succesful exits>>>

 who have been tremendously successful in other industries.

<<<SLIDE: 14 years in the alcohol industry>>>

And in this industry

<<<SLIDE: 13 years experience in the cannabis industry>>>

to build a next generation cannabis business

<<<SLIDE: 19 cannabis cups>>>

To take on the 1.2 trillion dollar alcohol industry.  I know that’s a bold thing to say

<<<SLIDE: the alcohol killer>>>

but we think we can give them a run for their money. After all alcohol is an industry which hasn’t seen a lot of innovation in the past several… centuries

<<<SLIDE: bartender>>>

If you went to a bar in the year 1800, what you would get is pretty much what you would get when you order a drink today.    

<<<SLIDE: days o the two martini lunch>>

And with per capita consumption of alcohol declining across the developed world

<<<SLIDE: alcohol decline>>>

 it’s time for a change.

<<<SLIDE: Province beverages>>

This is an opportunity which couldn’t have existed before Cannabis 3.0.

<<<SLIDE: ready, set, sativa>>

We’re using cutting edge chemistry and tried and tested psychopharmachological discovery techniques

<<<SLIDE: gin and beer>>

To create an entirely new kind of cannabis beverage.

<<<SLIDE: a beer unlike any other>>

One with a dose response curve similar to that of alcohol

<<<SLIDE: bottles>>

And which will create a sensation like the pleasant sensation of drinking alcohol

<<<SLIDE: you can have it all>>

It will hit the same neurologic systems, to cause your brain to release the same neurotransmitters

<<<SLIDE: BRAIN AND NEUROTRANSMITTERS>>>

and deliver a sensation as close as possible to alcohol

<<<SLIDE: BEER WITH IQ>>>

To deliver a fully legal way - wherever cannabis is legal.

<<<SLIDE: LEGAL WHEREVER CANNABIS IS LEGAL>>>

Toget that liquid courage so you’re not afraid to talk to the hot girl at the bar.

<<<SLIDE: LIQUID COURAGE>>>

You’ll get the social lubricant to help you close your business deal or be your best on your first date.

<<<SLIDE: SOCIAL LUBRICANT>>>

You’ll get that fun, social, energetic feeling like with alcohol.

<<<SLIDE: NO COUCH LOCK. NOT ANTISOCIAL. NO HANGOVER.>>>

But its what you won’t get that matters most. 

<<<SLIDE: NEGATIVE IMPACTS>>>

Imagine what that world looks like.

<<<SLIDE: Province is currently raising funding. contact inustry>>>

That’s the power of cannabis 3.0.  Products like ours are what this industry is trending towards.  Now it’s your turn to change the world.