Blockchain
Token Naturals rewarded Standard Processing Licence for cannabis from Health Canada
Token Naturals Ltd. (“Token Naturals“, “Token”) has announced that on April 9th Health Canada issued the company a Standard Processing licence. The privately-owned company is now fully licensed to extract and process cannabis at its central Edmonton manufacturing facility. Token Naturals plans to supply extract and derivative products in wholesale to licensed cannabis producers and direct to consumers through licensed cannabis retailers. Token’s facility was built as an efficient and adaptive processing space, designed with the goal to operate at industry-leading efficiencies and margins. The company intends to submit a Sales Licence application immediately to provide more robust services to their partners.
Token offers private label manufacturing of cannabis and is currently equipped to produce oils, tinctures, topicals, rosin, vapes and edibles. The company is now commercializing the formulations they have been conceptually developing for partners’ products and for Token’s own branded lines. Token is currently in talks with a licensed third party to utilize their sales amendment. This agreement would allow Token to sell their own and their partners’ products directly to distributors and retailers in order to get products to consumers more swiftly.
“We’re looking forward to a new wave of the cannabis industry, one that is more accessible to participate in, more transparent and more responsible in the long term. There is the space and the opportunity to do business differently than we saw in the early days of legalized cannabis,” says Keenan Pascal, founder and CEO of Token Naturals. “Many producers now need outside solutions for their cannabis manufacturing, whether that’s because they want to focus on growing great flower or they don’t have the space and capacity in-house. We’re providing customers with a wider range of product formats, and we are doing so with a diverse workforce and a different way of thinking about the industry: looking at the long term.”
Token is minority-led and majority owned by shareholders who identify as visible minorities and/or women. As the most centrally located cannabis facility in Edmonton, Token is also the closest licensed manufacturer to Alberta’s cannabis distribution board, AGLC.
The licence currently allows for manufacturing in the first phase of Token’s facility which occupies 8,300 square feet of the larger building. While concurrently manufacturing in their licensed phase one space, Token will develop an additional 13,500 square feet holding extraction, storage and laboratory spaces. Phase two, which is expected to be completed in early 2022, will hold a proprietary, continuous throughput cryo-ethanol extraction system that is fully process-engineered. This system has the power to collect a higher yield from biomass, which results in higher output, higher margins and less waste without compromising on quality and purity.
In addition to providing white-label manufacturing, Token plans to release their own consumer line of cannabis products. They are now preparing to enter the market with THC and CBD drink shots, complimenting the increasingly popular beverage additives space. The decision to enter both the B2B and B2C markets was an intentional exercise to provide the best possible service to manufacturing partners. By operating in both, Token can pass their experience bringing products to market on to their partner brands.
Token’s team brings unique experience and success in the consumer packaged goods space. The company also manufactures and distributes Token Bitters, a line of cocktail bitters sold across Canada and exported to Asia. Token Bitters is Alberta’s leading bitters brand and the company will rely on this key network and brand expertise to launch their cannabis products.
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- Prosperity or catastrophe: #Insurance2040 study reveals four possible futures for the industry
By 2040, technological innovation driven by customer centricity could pave the way to greater climate resilience and more personalized offerings by the insurance industry. Alternatively, insurance could become a luxury afforded only to the wealthiest few. - Cardinal Health announces two strategic additions to its portfolio
Cardinal Health will acquire a majority stake in GI Alliance (GIA), the country’s leading gastroenterology (GI) management services organization (MSO), from a combination of GIA physician owners and funds managed by affiliates of Apollo. Cardinal Health will also acquire the Advanced Diabetes Supply Group (ADSG), one of the country’s leading diabetic medical supplies providers, for approximately $1.1 billion in cash. - BlackRock Launches New BUIDL Share Classes Across Multiple Blockchains to Expand Access and Potential of BUIDL Ecosystem
This initiative represents the next step in the evolution of the tokenization market, by enabling BUIDL to be used within leading blockchain-based financial products and infrastructure across ecosystems. - Primo Brands Corporation Announces Successful Completion of Merger of Primo Water and BlueTriton Brands
“I believe Primo Brands is positioned to be a leader in the healthy hydration beverage category, thanks to the strength of its iconic, sustainably-sourced brands, its robust operations and extensive North American network, and its responsible operation of numerous springs across the country,” said Dean Metropoulos, Non-Executive Chairman of the Board of Directors of Primo Brands. - Jackson Hewitt Tax Services Expands Workforce, Offering Job Opportunities Nationwide for Upcoming Tax Filing Season
The week-long event will launch the combined hiring of 18,000 employees to prepare for the upcoming tax filing season. The Jackson Hewitt hiring events are open to the public and include on-site interviews. Qualified candidates could receive a job offer immediately. - PNC Bank to Double Planned Branch Openings to More Than 200 Across Six States This announcement brings the bank’s total investment to approximately $1.5 billion to open more than 200 new branch locations in 12 cities across the U.S. over the next five years, while completing the renovations of 1,400 existing branches during the same time period.
- Alchemy Pay Expands Virtual Card Functionality with Google Pay Support The new card BINs added will significantly enhance the capabilities of crypto cards, expanding their support for a broader range of payment scenarios and improving transaction success rates. This advancement is particularly impactful when paired with Google Pay, one of the most popular and widely used digital payment platforms, trusted by millions for its convenience and security.
- Finaya Unveils Nationwide Homeownership Platform
From providing rich and current information about home values and property conditions, to finding helpful repair and remodeling providers, to shopping for and securing the right insurance, the platform simplifies the homeownership process, making it more accessible, convenient and efficient. - GenAI predicted to inspire revenue growth in 76% of businesses, but only 4% qualify as “leaders” in AI and analytics
Kearney’s report confirms that businesses are not only aware of how big data, AI, and analytics will impact revenue generation and enhance business strategies, but they are investing to stay ahead of the curve, too. - GameAbove Sports Acquires Meaningful Ownership Stake in Brisbane Bullets with NBA Legend George Gervin as Part of Ownership Team
This move marks a significant milestone for GameAbove Sports, a CapStone Holdings Inc. company, as it expands its influence on international basketball ahead of the Brisbane 2032 Olympics. - Most US shoppers are encountering generative AI while shopping without realizing it
A survey of 700 online shoppers in the US shows 71% are unaware of having used generative AI while shopping online even though most had recently shopped at retailers currently using it. 41% of customers say they would feel comfortable using a generative AI tool from a brand they trust.
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