Curaleaf Holdings, Inc. (CSE: CURA; OTCQX: CURLF) hit a new milestone today, officially becoming the first major licensed producer to release cannabis tablet products to the Florida medical marijuana market.
Both recreational and medical customers have been on the hunt for new product types beyond standard dried flower offerings in recent years as cannabis finds increased legalization in North American markets.
Curaleaf’s mint-flavoured tablets are now stocked in all of the company’s 26 separate medical dispensary locations in Florida, as well as select storefronts in Connecticut, Maryland, New Jersey, and New York.
Rather than inhaled as a vapour or swallowed whole as a capsule, the mint tablets come in child-resistant packaging and offer a slow-acting release schedule after dissolving on the tongue.
Commenting on the new addition to the company’s product lineup, Curaleaf Chief Executive Officer Joe Lusardi had this to say:
Tablets, capsules, and edibles are expected to see a surge in popularity in the coming months both in the U.S. and Canada. North of the border, Health Canada is due to release finalized edible and vape regulations for the legalized cannabis industry next month, and new products are due to begin hitting shelves in early 2020.
On the southern side in the United States, tablets and capsules may soon move into the space currently occupied by vape cartridges.
Flavoured vape products are gearing up to take a major hit in the U.S. in light of the Trump administration’s press conference yesterday announcing plans to ban most flavoured e-cigarettes in the near future. How far that proposed ban will go and if it will directly impact recreational or medical cannabis operations remains to be seen.
Curaleaf’s stock is currently trading at a price of $7.54 this afternoon, which is notably down from the high trading price of $11.28 back in April.