True Leaf Medicine International (CSE: MJ) (FSE: TLA) (OTCQB:TRLFF), a Canadian company is running a testing the waters (TTW) campaign to gauge investor interest in a possible Reg A+ crowdfunding offer seeking a max raise of $10 million. True Leaf says this is the first crowdfunding campaign for Cannabis / Hemp products that are federally legal in both the US and Canada.
True Leaf, a company that trades in the US, Canada and Germany, operates two different subsidiaries. There is True Leaf Pet and True Leaf Medicine. True Leaf Pet has created a line of Hemp based pet products that is currently distributed in the US, Europe, and Canada. True Leaf Medicine has filed for a medical marijuana license in Canada. According to the company, the process of receiving a license is nearing completion and they are optimistic it will be approved soon. If it is approved, True Leaf will be able to cultivate and distribute medical marijuana products across Canada. While True Leaf seeks a license to sell medicinal cannabis in Canada, it markets only federally legal hemp-seed based pet products in the U.S. which do not contain any psychoactive elements (so no stoned pets).
Legalize it, Eh!
The kicker to all of this, is the fact that Canada is poised to legalize recreational use of Marijuana at some point next year. Legalization was part of Prime Minister Justin Trudeau’s campaign platform.
While there are still some hurdles in the legalization path, it looks like Marijuana will be legally distributed just like alcohol across all of the Canadian provinces at some point in 2018. The current black market value of recreational marijuana use in Canada is around $7 billion. True Leaf may find itself in a good position to capitalize on this legalization shift as the government seeks to control, and more importantly tax, Cannabis use. Who knows, if the legalization push spreads south, True Leaf could be providing Canadian Cannabis to the Yankee crowd.
True Leaf has a production facility that is on a 40-acre site in Lumby, British Columbia. The company says it will have a production capacity of more than 6,000 kilograms of dried cannabis per year once phase one of the project is completed.
True Leaf says it was experienced rapid growth in its pet products over the last year. The company sells the True Hemp line of supplements for pets. The Offering Circular is available here where you can read all of the financial details and specifics on the securities offering. The legal work for True Leaf has been handled by Alixe Cormick of Venture Law who is a heavy hitter in the securities crowdfunding / alternative finance space in Canada.
“People are looking for natural ways to ensure they and their pets lead healthy long lives,” commented True Leaf CEO and Founder Darcy Bomford. “As attitudes and laws continue to change around hemp and cannabis, True Leaf aims to take the global lead on creating products that improve quality of life for people and pets. By conducting this test-the-waters phase, we are excited to explore the idea of extending the opportunity to own a piece of True Leaf to customers, supporters and investors who share our values and enthusiasm for the potential of our fully legal cannabis products.”
Have a crowdfunding offering you'd like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!