Canada’s cannabis industry isn’t waiting for looming regulatory changes that will permit companies to process domestically grown hemp flowers for CBD extraction.
To capitalize on the current boom in cannabidiol products, Canadian companies are turning to imported CBD.
Vancouver, British Columbia-based Isodiol International, a company that produces CBD in Europe, announced a deal to supply the product to a licensed marijuana company in Alberta.
Earlier this month, Isodiol made a similar agreement to import CBD for Zenabis, a privately held cannabis company that grows marijuana in British Columbia and New Brunswick.
Terms of the import agreements were not announced.
The companies also have not announced the volume of CBD isolate involved in the agreements, nor how it will be used.
Canada is among the world’s top hemp producers, but Canadian growers are not allowed to process hemp flowers to extract CBD oil. That is expected to change when soon-to-be-approved marijuana regulations are enacted.
Isodiol International trades on the Canadian Securities Exchange as ISOL.