Cannabis Brand 1906 Raises $18 Million In Funding
Company Introduces New Product, 1906 Drops, A Major Leap Forward in Cannabis Medicine
Oct 28, 2019, 09:06 ET
DENVER, Oct. 28, 2019 /PRNewswire/ -- 1906, one of the most recognized and fastest-growing brands in cannabis today, announced that it closed $18 million in its most recent capital raise. The round was led by Navy Capital and included a range of institutions, high net worth individuals and 1906's existing investors. 1906 will use the investment to fund the company's launch in the additional states of Illinois, Massachusetts, and Michigan.
"Navy Capital's investment in 1906 reflects our belief that it is one of the best brands in the country," said Sean Stiefel, a Navy Capital portfolio manager. "We are very impressed with the company whose fast acting formulations represent the cutting edge of cannabis. Our investment will help 1906 become one of the leading brands in the new adult use markets of Illinois, Massachusetts and Michigan."
1906 has just released Drops, pressed tablets (or pills) that represent the new frontier in cannabis medicine. Developed after years of research and testing, Drops are the only pill on the market to combine medicinal cannabis with plant medicines for targeted effects. Like all 1906 products, Drops employ a patented fast acting technology that uses lipid microencapsulation for rapid onset (under 20 minutes), the fastest technology in the industry.
1906 Drops combine highly effective plant medicines with a low dose of THC plus CBD to create a suite of portable, discreet, vegan, and zero calorie medicinal formulas in a familiar user-friendly format for daily remedies—a swallow-able coated pill.
1906 Founder Peter Barsoom says, "With Drops, cannabis medicine has finally arrived. For far too long, consumers and patients have had to rely on smoking cannabis in order to get fast onset time and specific effects. After years of R&D, we have finally brought a healthier, more effective product to the cannabis marketplace. And for the first time, we've introduced a new experience for cognitive enhancement, Genius, which we believe will finally kill the Reagan-era propaganda that cannabis is brain-dulling."
1906 Drops come in six fast-acting, plant-based experiences to optimize every part of your day. Each is thoughtfully formulated with THC, CBD, and adaptogens/herbs to create enhancements for energy, arousal, relaxation, sleep, focus, and mood. Drops formulations are as follows:
- 1906 Genius, is an optimal blend of 5 plant medicines, caffeine and cannabis to promote cognitive performance. (2.5mg THC / 2.5mg CBD)
- 1906 Chill, a unique blend of high CBD, THC and plant medicine to promote relaxation. (5mg THC / 25mg CBD)
- 1906 Go, a powerful blend of cannabis, caffeine, and 3 plant medicines to promote energy. (5 THC / 5mg CBD)
- 1906 Bliss, a euphoric blend of 4 plant medicines and cannabis to promote extroverted happiness. (5mg THC / 5mg CBD)
- 1906 Love, an exquisite blend of 5 herbal aphrodisiacs and cannabis to boost arousal. (2.5mg THC / 2.5mg CBD)
- 1906 Midnight, a thoughtful blend of plant medicine and cannabis to promote sleep. (5mg THC / 5mg CBD)
For more information about Drops and all six formulations, visit: https://1906newhighs.com/.
About 1906
1906, one of the most innovative brands in cannabis edibles, creates groundbreaking functional formulations of cannabis and plant medicines. 1906's lineup delivers six unique experiences that promote sleep, energy, arousal, relaxation, cognitive focus and a happy mood, all in consistently fast-acting formulations using single-strain organic cannabis. 1906 supports medicinal cannabis research and invests a percentage of its revenue in clinical trials and educating healthcare practitioners. The company also invests in corporate social responsibility, specifically targeting employment opportunities for those formerly incarcerated individuals who have paid the heaviest price for a century of cannabis prohibition.
SOURCE 1906
