City View Green Holdings (CVGR.C) grabbed its cannabis research license under Health Canada’s Cannabis Act and Cannabis Regulations today.
The license gives City View the ability to conduct taste tests of cannabis-infused products. These activities, as per Health Canada, include the ability to possess and produce cannabis for research purposes. The company is hoping that this new product development will lead to new high-quality edibles that are generally reflective of market trends and consumer demand.
“Today cannabis consumers have more choice than ever but some of the choices in the marketplace do not achieve the flavour profile desired by consumers. Through this research licence City View will gain an in-depth understanding of consumers’ taste preferences ahead of its competitors to produce popular, tasty products. City View and its clients and customers will ‘create delicious together’,” said Rob Fia, CEO of City View.
City View is a consumer packaged goods company focused on cannabis 2.0 products, specifically including edibles. They received their processing license on April 30, 2021, and have since expanded out to include the cannabis-infused food vertical at their facility in Brantford, Ontario. They also own a 27.5% stake in Budd Hutt, which is an Alberta-based retail-side cannabis company with cannabis cultivation and production licenses in the province.
This latest development now means City View can now partner with companies seeking to develop edibles, recipes, and get involved more in marketing for these products because of this development.
“The rigorous structured collection of data, analysis and interpretation of people’s response to gustation (taste) and olfactory (smell) stimuli will generate insights into market preference which will lead to consumer driven edibles that will satisfy the different flavour profiles,” said Steve Naraine, director of discovery at City View.
Let’s look at the chart.
City View has been on a steady decline since April, down from approximately $0.10. Now today, they’re down 14.3% and presently trading at $0.03.
—Joseph Morton