Launched in August during National Wellness Month, The Parent Company's new line of wellness focused products seek to meet consumers and their desired effects head on. The launch of the wellness line marks The Parent Company's first CBD- and THC-based line of self-branded wellness geared products under the Caliva label, Well By Caliva. The line was created with the evolving needs of consumers in mind, with recent data demonstrating that the top reasons for cannabis use overwhelmingly include relaxation, improving sleep quality and pain management1. This year alone, topicals and sublinguals have seen a 10% and 12% increase in revenue2, respectively, as consumers seek out the benefits of cannabis in form factors that they can incorporate into their overall health and wellness regimen for relief and rest.
Well lotions and tinctures have curated formulas to achieve desired states from focus to self-care to rest, with packaging that is labeled accordingly. The line of tinctures includes an option for each desired state (Well Balanced, Well Rested and Well Relieved), while the lotions fall under the brand's Well Relieved category.
"We are excited to be expanding our wellness category with the release of our line of CBD and THC lotions and tinctures" shared Dennis O'Malley, COO of The Parent Company. "As part of The Parent Company's mission to provide access and entry points into cannabis, we knew that a wellness line that uses the combination of CBD and THC for more powerful effects would be attractive to consumers. Our new line of Well by Caliva products offer the same high quality that consumers have come to trust from The Parent Company, at an affordable price."
Well by Caliva lotions are THC rich and come in two forms: Muscle & Joint Lotion and Head, Neck & Shoulder Lotion. Both offer an effective and non-psychoactive formula that consumers can trust. The brand's Well Relieved Muscle & Joint Lotion offers a blended 1:2 CBD:THC ratio with the addition of clove and frankincense essential oils for a warm, spicy aroma. The Well Relieved Head, Neck & Shoulder Lotion offers the highest THC concentration of any Well by Caliva topical with a 0:1 CBD:THC ratio and calming lavender essential oil. Every 1.7oz bottle of Well lotion contains over 300mg of cannabinoids and retails for $29.50.
Mindfully formulated to be fast-acting and approachable to new consumers on their cannabis journeys, Well by Caliva tinctures are uniquely designed to cater to consumers' desired effects. The 15mL bottles include 30 doses each and are available in three different CBD:THC ratios for $29 each. Caliva's Well Relieved CBD-rich formula, with a 20:1 CBD:THC ratio, is perfect for those seeking to enhance their whole body wellness routine. Caliva's Well Balanced Tincture features a 4:1 CBD:THC ratio to help consumers zero in on the task at hand and Caliva's Well Rested Tincture, featuring a 1:1 CBD:THC ratio, is a more potent formula designed to help consumers wind down from the day.
Well by Caliva lotions and tinctures are available at Caliva retail stores, via delivery at Caliva.com and on the Caliva app, which is available for download through the Apple App Store. For more information, visit Caliva.com.
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1SOURCE: Dr. Molly McCann and Dr. Josh Adams. 2021 U.S. Cannabis Consumer Evolution: Archetypes,
Preferences and Behaviors. Edited by John Kagia. Washington D.C.: New Frontier Data, 2021.
2SOURCE: BDSA, CA, Topicals, Sales Revenue, H1 2021 vs. H2 2020 |
ABOUT CALIVA
Caliva is a leading single-state cannabis operator in California. Founded in 2015, Caliva's industry advantage comes from its vertical integration and direct-to-consumer platform. This direct-to-consumer experience enables customers to purchase cannabis at Caliva's retail stores and place orders online for in-store pickup or same-day delivery straight to their door at Caliva.com. Caliva's plant-based solutions are designed to fit any lifestyle. Caliva's commitment to compliance and quality reinforce its position as THE MOST TRUSTED NAME IN CANNABIS™. For more information visit Caliva.com or follow along on Instagram, @GoCaliva.
ABOUT THE PARENT COMPANY
Formed in January 2021, The Parent Company is California's leading vertically integrated cannabis company. The company's three manufacturing facilities guarantee unparalleled access to high-quality, low-cost cannabis, while its vast wholesale distribution network of more than 450 California dispensaries, an unrivaled direct-to-consumer omnichannel platform, three consumer delivery hubs and five omni-channel retail locations, currently service approximately 70% of the largest legal cannabis market in the country. The Company's curated product portfolio includes eight of the most valuable and scalable brands in cannabis, including Monogram by Shawn "JAY-Z" Carter, Caliva, Deli, Fun Uncle, and Mirayo, which sets the tone for The Parent Company's industry leadership in California and beyond.
In addition to its vast manufacturing infrastructure, consumer reach and cultural influence, The Parent Company is committed to using its resources and status to play a significant role in molding a more equitable cannabis industry. Its social equity ventures initiative, established by Chief Visionary Officer Shawn "JAY-Z" Carter, was created to break down the systematic barriers Black and other minority entrepreneurs face as they endeavor to secure meaningful participation, growth and leadership in the multibillion-dollar legal cannabis industry.
Shares of The Parent Company common stock are traded on NEO Exchange under the ticker symbol "GRAM.U" and on the OTCQX under the ticker symbol "GRAMF".
For the latest news, activities, and media coverage, please visit www.theparent.co or connect with us on LinkedIn and Twitter.
FORWARD LOOKING STATEMENTS
This press release may contain forward-looking information within the meaning of applicable securities legislation which reflects The Parent Company's current expectations regarding future events. The words "will", "expects", "intends" and similar expressions are often intended to identify forward looking information, although not all forward-looking information contains these identifying words.
Specific forward-looking information contained in this press release includes, but is not limited to, statements concerning the launch of "Well by Caliva" lotions and tinctures. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond The Parent Company's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward looking information. Such risks and uncertainties include, but are not limited to: changes in general economic, business and political conditions, changes in applicable laws, the U.S. and Canadian regulatory landscapes and enforcement related to cannabis, changes in public opinion and perception of the cannabis industry, reliance on the expertise and judgment of senior management, as well as the factors discussed under the heading "Risk Factors" in The Parent Company's Annual Information Form dated March 25, 2021, which is available on SEDAR at www.sedar.com. The Parent Company undertakes no obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
Caution Regarding Cannabis Operations in the United States
Investors should note that there are significant legal restrictions and regulations that govern the cannabis industry in the United States. Cannabis remains a Schedule I drug under the U.S. Controlled Substances Act, making it illegal under federal law in the United States to, among other things, cultivate, distribute or possess cannabis in the United States. Financial transactions involving proceeds generated by, or intended to promote, cannabis-related business activities in the United States may form the basis for prosecution under applicable U.S. federal money laundering legislation.
While the approach to enforcement of such laws by the federal government in the United States has trended toward non-enforcement against individuals and businesses that comply with medical or adult-use cannabis programs in states where such programs are legal, strict compliance with state laws with respect to cannabis will neither absolve The Parent Company of liability under U.S. federal law, nor will it provide a defense to any federal proceeding which may be brought against the Company. The enforcement of federal laws in the United States is a significant risk to the business of The Parent Company and any proceedings brought against the Company thereunder may adversely affect the Company's operations and financial performance.
SOURCE TPCO Holding Corp.
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