ASX-listed Live Verdure is planning a soft launch of its new 8 Seeds hemp-based skincare range in Australia in the September quarter.
The initial rollout to existing customers will be followed by expanded distribution to select online and traditional retailers in the December quarter.
A go-to-market strategy for sales in the US will also be developed in conjunction with the company’s partner THG.
Stability and compatibility research has been completed, with testing in progress. A pre-production run of the four initial skincare products is underway, with another nine under development.
The Derma range will be targeted at common skin conditions including acne, eczema, psoriasis and rosacea while another product is under development for people with sensitive skin.
General manager of LV’s 8 Seeds skincare division Mark Tucker said: “It is exciting to see our hemp-based skincare products coming to life and I am confident that consumers will love using the products, which is key to developing brand-loyal users.”
Southern Cannabis Holdings
Southern Cannabis Holdings (SCH) made a consolidated profit in February, its first since September 2021, on the back of a ~20% rise in revenue compared to January.
SCH is predicting record revenue in March and a profitable quarter.
Roots Sustainable Agricultural Technologies
ASX-listed Roots Sustainable Agricultural Technologies has signed a deal with GroPro Hydro to launch its technology in Oklahoma’s burgeoning medicinal cannabis market.
Under the non-exclusive arrangement, hydroponics and agricultural equipment supplier GroPro will market and sell the Root Zone Temperature Optimisation system to medicinal cannabis growers in the US state.
It will also install and provide support for the technology, which optimises plant physiology for increased growth, productivity and quality by stabilising its root zone temperature.
Roots said Oklahoma has a large medicinal cannabis market and a climate ideally suited to its technology. Executive chairman and CEO Boaz Wachtel described the state as “an exciting new and emerging market equal to the agricultural market in California”.