VANCOUVER, Sept. 4, 2019 /CNW/ - Pasha Brands Ltd. ("Pasha") (CSE: CRFT) (OTC:CRFTF) (FSE:ZZD), Canada's largest craft cannabis brands organization, has announced it has acquired the brand "Baked Edibles" ("Baked Edibles"), previously used by Canada's longest-running commercial cannabis bakery. In its previous iteration, Baked Edibles was an iconic pre-legalization brand that served Canadians for years and will now take its place among leading edible brands in the regulated market.
Under previous ownership, from its base in Victoria, Baked Edibles supplied premium edibles, cannabis oils, capsules, and topicals to the Canadian market beginning in 2015, following the R v. Smith Supreme Court ruling, which declared the legal right to possess cannabis derivatives for medical purposes. In addition to an exceptional line of products, Baked Edibles differentiated itself from other grey market edibles brands by sourcing high quality ingredients, and, in the interest of public health and safety, providing customers with valuable product information and dosing guidelines. It was also the first cannabis bakery in Canada to receive a municipal business licence.
In obtaining the Baked Edibles brand and its associated intellectual property, Pasha will rework the brand's product line-up to better suit Health Canada's forthcoming amendments to the Cannabis Act, while maintaining the Baked Edibles spirit by utilizing existing recipes and using high quality ingredients.
A long-time favourite in the grey market among consumers, the Baked Edibles name formed the basis for an operation that was a pioneer in the areas of dosage control, best-in-class standard operating procedures, and product consistency.
"This is a natural fit for Pasha and exemplifies our approach to bringing authentic cannabis brands into the legal marketplace," said Jason Longden, CEO of Pasha. "Baked Edibles has been a force in the Canadian cannabis industry and has inarguably set the standard of what high quality edibles should be. With Health Canada regulations for edibles and consumables anticipated in the coming months, we look forward to further developing our product offering."
About Pasha Brands
Based in Vancouver, British Columbia, Pasha is a vertically integrated, prohibition-era brand house firmly rooted in BC's craft cannabis industry, which boasts an international reputation. With proven capabilities in cannabis cultivation, genetic research and development, product processing, and retail, Pasha is uniquely positioned in the new legal cannabis market through its network of hundreds of craft cannabis suppliers under the Pasha umbrella.
Pasha subsidiary, Medcann Health Products Ltd., is a Health Canada licensed cultivator and processor with a licence to sell medical cannabis products in Canada.
Pasha and BC Craft are also developing a craft cannabis campus, which is dedicated to bringing craft quality into the newly legal cannabis market in Canada. BC Craft is driven to assist craft growers in obtaining security clearance and licensing to grow as micro-cultivators, specializing in education and compliance to bring growers into the regulated cannabis supply market.
Pasha's common shares trade on the CSE under the symbol "CRFT" and on the FSE under the symbol "ZZD".
For more information, please visit www.pashabrands.com.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.
SOURCE Pasha Brands Ltd.
For further information: Media & Investor Relations Contact: Emerald Asuncion, [email protected], (236) 521-5135