Emerald Health signs deal with Whole Foods placing non-THC, non-CBD endocannabinoid product on store shelves
Emerald Health Therapeutics (TSXV:EMH) (OTCQX:EMHTF) announced on Tuesday that the company’s line of Endo products, what they call cannabis-free endocannabinoid support supplements, would be made available in Whole Foods Markets across the United States. The deal comes through its joint venture partner, San Diego-based Emerald Health Bioceuticals and will be launched under the brand name Emerald Health Naturals.
According to a statement, Canadian retailers have not yet been named. However, Emerald Health Therapeutics received natural product numbers from Health Canada, giving the company permission to sell the product up north.
The new product is an alternative to both THC and CBD, allowing Whole Foods to take advantage of the rising popularity of such compounds even as the FDA claims that CBD remains in legal limbo — this despite the recent signing of the farm bill by President Trump which legalized hemp across the country.
.@BioEmerald announced today that it has launched its award-winning Endo products, the world’s first line of nutritional supplements formulated to support the endocannabinoid system while being completely #cannabis and #CBD-free, in @WholeFoods locations across the #USA. pic.twitter.com/hYABuBGICZ
— Emerald Health (@EmeraldHealthHQ) January 29, 2019
“Endocannabinoid health is so much more than CBD and THC; and we’re thrilled to partner with Whole Foods Market to bring consumers legal and more targeted CBD alternatives,” said Emerald Health Bioceuticals CEO, Jade Beutler in a statement. “Our CBD alternatives are the world’s first to go BEYOND CANNABIS by providing long-term wellness solutions for anxiety, sleep, inflammation, mood and brain health to keep the mind, body and spirit in nature’s perfect balance.”
An alternative to THC, CBD, and the law
Emerald Health is promoting the Endo product as both an alternative for people not ready to try even CBD but who are curious about the health benefits associated with the endocannabinoid system, as well as a product for experienced cannabis users.
In a statement, Emerald Health noted that Endo would be marketed to consumers concerned about the legality of cannabis as well as the stigma associated with using such products. From a market perspective, the company appears to believe they can attract a cross-section of consumers.
“With 60 [percent] of cannabis users also being users of natural health products, we have a two-pronged opportunity in Canada to build a stand-alone market for the Endo product line for cannabis non-users as well as achieve Emerald brand recognition among cannabis users in channels unable to carry cannabis products,” said Avtar Dhillon, President and Executive Chairman, Emerald Health Therapeutics in a statement.
“Natural health product stores, pharmacies, and even grocery stores may all be potential outlets for the Endo product line. We look forward to offering the proprietary Endo products to Canadian consumers this year,” he continued.
Emerald Health has secured several deals, both large and small, to distribute the Endo product across the United States in small natural health stores, large retail chains, and even Amazon. Upon news of the deal company stock shot up on Tuesday morning, jumping over 8 percent to $2.72 per share on the OTC markets.
Header Image: Payton Chung