This takes feeding the dogs table scraps to a whole new level. While Americans continue to fight for the right for humans to consume cannabis, this Canadian marijuana company plans to sell cannabis-infused dog chews.
Believe it or not, True Leaf Medicine International Ltd. is kind of already in the doggie weed market. The company currently produces hemp seed-infused products for canines that aim to ease inflammation, anxiety, and joint pain. Now it wants to raise around $8 million USD to build a production facility to extract cannabidiol. True Leaf intends to do so through equity crowdfunding and believes the CBD can treat medical ailments in humans and animals.
“People are spending more money to look after their pets, specifically as they get older,” CEO Darcy Bomford told the Financial Post. “A lot of the drugs that are available in the veterinary market are effective and they work but they also have a lot of side effects. There’s a big market there for natural products.”
The CBD oil will ease the process for older dogs as they jump on the couch or can’t endure the longer strolls around the neighborhood like they used to.
Two years ago, True Leaf announced their hemp-based pet products and has expanded the line to include chews and oils. Their items reach about 1,600 North American stores and more than 300 Europe locations. As holistic medicine becomes the preferred method to treat humans and pets, it could grow into a $1.6 billion market, Bomford estimated to FP.
“We’re really focused on making their quality of life as good as possible,” Bomford said. “We’re trying to return the love we get from our pets.”