Back 40 Launches with Three Distinct Vape Strains – Super Lemon Haze, Forbidden Fruit and Kush Mint – Available Now at Cannabis Retailers Across Canada
Back Forty Cartridges
Back Forty cannabis vapes, launching with three distinctive strains.
TORONTO, Oct. 13, 2020 (GLOBE NEWSWIRE) — Turn off your notifications and escape to the Back Forty, a new cannabis brand all about embracing simplicity and getting back to the basics. The latest brand from Auxly Cannabis Group (TSX.V – XLY) (“Auxly”), Back Forty launches today with three unique SKUS of distinct high-potency vapes, available at cannabis retailers in British Columbia, Alberta, Ontario and New Brunswick, with more provinces to follow in coming months.
“Back Forty refers to the most remote part of a farm, the place where I imagine a farmer would go to get away from the day-to-day and connect with the peace and quiet of nature,” said Brad Canario, Brand Director, Back Forty. “We’re thrilled to introduce this brand, designed for savvy cannabis consumers looking for an uncomplicated, high-quality product at an affordable price. Take a trip in the Back Forty!”
Back Forty keeps it simple, so all Back Forty vapes contain only two ingredients – rigorously tested cannabis distillate and botanical terpenes. Each 0.45 g cartridge contains 360 mg of THC, with no CBD. At launch, Back Forty is introducing the following strains:
Super Lemon Haze is a Sativa packing a citrus and floral taste, with botanical terpenes of d-limonene, terpinolene, myrcene and caryophyllene.
Forbidden Fruit is an Indica with citrus and earthy taste notes from d-limonene and myrcene botanical terpenes.
Kush Mint is a Hybrid with a refreshing burst of mint taste, with menthol and d-limonene botanical terpenes.
About Back Forty
Back Forty is a cannabis brand wholly
- As the cannabis industry matures, winners have begun to separate themselves from the pack and position themselves as leaders in their categories.
- VCs are taking notice. They said they’re shifting their investment dollars from early stage firms to growth stage companies that already have a proven track record.
- According to data from PitchBook, VC investment in cannabis startups cratered this year, as the cannabis bubble burst and investors pulled back during the pandemic.
- Many investors told us they’re still open to new exceptional startups, however.
- Business Insider talked to six VCs who say that for a startup to get their attention, the company would need to have solid leadership, an idea that would completely innovate or create a category, and the ability to scale quickly, among other qualities
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The crowded cannabis market has thinned out since its boom in late 2018, and investors are becoming more reluctant to invest their cash.
So far this year, VCs have invested about $512 million in cannabis companies, a sharp decline from the $2.1 billion they put to work during the first nine months of 2019, according to data from PitchBook. And the money has shifted somewhat away from early-stage companies to later-stage businesses.
In the first quarter of 2020, VCs invested $71 million into angel- and seed-stage startups, or 46% of the total. In the second quarter of this year, that amount fell by more than half to $32 million. This quarter, angel and seed-stage firms have raised about $39 million, or 20% of the total funding.
Read more: Here are the top 14 venture-capital firms making deals in the cannabis industry, and where they’re looking to place their next bets
Many investors told us that they’re still open to startups with short track
If two markets are pretty much guaranteed to make money over the next decade separately it’s artificial intelligence and cannabis. Together, the pair could form a perfect storm thanks to COVID-19 driving demand. Cannabis is more popular than ever thanks to lockdowns and vape technology and the market is predicted to be worth $76.3 billion by 2027). A.I. adds new business benefits for the industry that the COVID boom could mean big changes ahead for regulation.
Adrian Holguin, CEO of CannaShark Consulting, started consulting for cannabis companies in 2017, and in three years he says the changes have been dramatic. Previously a Silicon Valley alum working in intellectual property and patents and trademark work, Holguin, now works with entrepreneurs and startups entering the cannabis industry and is bullish on the impact that AI is having: “The use of A.I. sensors allows us to keep track of every element of the cultivation process such as water level, P.H. level, temperature, nutrient feed, etc. A.I. will also help in a lot of the automation process. Indoor growing has a history of heavy resource consumption for water and electricity, Artificial Intelligence and robotics allow the cultivating process to be more efficient and effective.”
Holguin, believes the future of the pairing will help not only with environmental controls and quality control but A.I. also offers more business operations benefits; “A.I. can help with cost-benefit analyses of purchasing manufacturing equipment or analyzing risks before implementing new techniques into the grow-process. If the use of A.I. in cannabis continues to go down the same path as big agriculture, it will ultimately help to reduce the costs of labor.”
7thirty Capital and Delta Emerald Ventures co-led the investment with participation from Welcan Capital, Arcview Collective Fund, and others
NOVATO, Calif., Sept. 29, 2020 /PRNewswire/ — Trym, a pioneering cannabis cultivation software company, is pleased to announce the completion of its $3.1M seed funding round of financing. In addition to an initial friends and family of $1M, 7thirty Capital and Delta Emerald Ventures co-led the preferred round of $2.1M. Welcan Capital, Arcview Collective Fund, and others also participated in the oversubscribed round. The funding will enable Trym to make further software advancements and expand its trusted farm management platform into new markets.
“Our investors are a perfect match with Trym’s DNA,” said Matt Mayberry, CEO and co-founder, Trym. “They understand that connectivity is the future of cannabis agriculture and that to stay in the game, commercial cultivators have to closely track and manage all aspects of their business. A disruption is happening in the market and we’re helping to drive it.”
Trym currently operates in 14 U.S. states and works with more than 80 of the largest cultivators and multi-state operators in the country.
Intense competition in the cultivation supply chain pushes down on prices and forces operators to improve their production efficiency to stay competitive. Trym addresses the needs of scaling organizations and will use the capital to continue improving its cultivation-focused platform. The funds will also be deployed for strategic software integrations with complimentary supply chain software and hardware systems.
“The growth opportunity in the cannabis cultivation software market is very exciting for us,” said Micah Tapman, Managing Partner at 7thirty Capital. “Trym is disrupting cannabis cultivation with a comprehensive software platform that streamlines business and connects the whole team for more efficient farm management. We have watched Trym grow since 2019,