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2.21 MB
Extraction Summary
5
People
13
Organizations
6
Locations
2
Events
3
Relationships
2
Quotes
Document Information
Type:
Investment research report / market analysis
File Size:
2.21 MB
Summary
This document is page 61 of a 'Cowen Collaborative Insights' report dated February 25, 2019, analyzing private companies in the CBD/hemp industry (Botanica, GenCanna, Highline Wellness, Lazarus Naturals, Lord Jones, and Mary's). While stamped 'HOUSE_OVERSIGHT_024877', indicating it is part of a larger document production (likely related to financial oversight), the page content itself is purely market research and contains no direct references to Jeffrey Epstein or his associates. The sidebar indicates the report was intended for Michael Cella at Cowen.
People (5)
| Name | Role | Context |
|---|---|---|
| Michael Cella | Recipient |
Listed in the sidebar watermark as the intended recipient of the report at Cowen.
|
| Chris Roth | Co-founder of Highline Wellness |
Identified as a former Cowen alum.
|
| Chris D'Alberti | Business Partner |
Partner of Chris Roth at Highline Wellness.
|
| Robert Rosenheck | Founder |
Founder of Lord Jones.
|
| Cindy Capobianco | Founder |
Founder of Lord Jones.
|
Organizations (13)
| Name | Type | Context |
|---|---|---|
| Cowen | ||
| Botanica | ||
| GenCanna | ||
| MariMed | ||
| Highline Wellness | ||
| Lazarus Naturals | ||
| Lord Jones | ||
| Mary's | ||
| Mary's Medicinals | ||
| Mary's Nutritionals | ||
| Equinox | ||
| The Standard | ||
| Sephora |
Relationships (3)
Highline Wellness. Co-founded by former Cowen alum Chris Roth...
Co-founded by former Cowen alum Chris Roth and his business partner Chris D'Alberti
MariMed... invested $30 mm in GenCanna... GenCanna became MariMed's global hemp CBD supplier.
Key Quotes (2)
"This report is intended for michael.cella@cowen.com. Unauthorized redistribution of this report is prohibited."Source
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Quote #1
"In November 2018, MariMed (MRMD, not covered) invested $30 mm in GenCanna, which established a long-term supply agreement whereby GenCanna became MariMed's global hemp CBD supplier."Source
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Quote #2
Full Extracted Text
Complete text extracted from the document (4,078 characters)
COWEN
COLLABORATIVE INSIGHTS
February 25, 2019
COLLABORATIVE INSIGHTS
February 25, 2019
Private Companies
Botanica. Best known for its portfolio of adult use edible brands, which includes Spot,
Journeyman and Mr. Moxey's Mints, Botanica recently launched a CBD only line of Mr
Moxey's Mints, following the passage of the 2018 Farm Bill. The products are currently
offered in the U.S. and the U.K. and are available in one package format consisting of 60
mints at 5 mgs per CBD each. In the U.S., the mints retail for ~$40 per tin and going
forward, the company will look to come to market with smaller / lower priced offerings
to help drive immediate point of sale consumption across brick and mortar retail
locations. Over time, management forecasts that ~40% of sales will come from e-
commerce, with the balance coming distribution.
Journeyman and Mr. Moxey's Mints, Botanica recently launched a CBD only line of Mr
Moxey's Mints, following the passage of the 2018 Farm Bill. The products are currently
offered in the U.S. and the U.K. and are available in one package format consisting of 60
mints at 5 mgs per CBD each. In the U.S., the mints retail for ~$40 per tin and going
forward, the company will look to come to market with smaller / lower priced offerings
to help drive immediate point of sale consumption across brick and mortar retail
locations. Over time, management forecasts that ~40% of sales will come from e-
commerce, with the balance coming distribution.
GenCanna. Based in Kentucky, GenCanna is a cultivator of premium hemp-derived
CBD. Additionally, the company offers whole-plant hemp extracts in the form of full
spectrum or isolated crystalline cannabinoid CBD for wholesale, available to customers
in the form of powders and oils and can be prepared as a proprietary water dispersible
powder to support large scale manufacturing needs. Their powders have a CBD
concentration of 99.5%+, which is isolated using CO2 extraction and crystal precipitation
(as is their bulk oil). GenCanna also offers a full range of packaged goods including
bottled oil drops, capsules and topical creams. All GenCanna products are produced in
an FDA registered and inspected, food-grade, GMP-compliant facility and are tested by
third parties for safety and quality. In November 2018, MariMed (MRMD, not covered)
invested $30 mm in GenCanna, which established a long-term supply agreement
whereby GenCanna became MariMed's global hemp CBD supplier.
CBD. Additionally, the company offers whole-plant hemp extracts in the form of full
spectrum or isolated crystalline cannabinoid CBD for wholesale, available to customers
in the form of powders and oils and can be prepared as a proprietary water dispersible
powder to support large scale manufacturing needs. Their powders have a CBD
concentration of 99.5%+, which is isolated using CO2 extraction and crystal precipitation
(as is their bulk oil). GenCanna also offers a full range of packaged goods including
bottled oil drops, capsules and topical creams. All GenCanna products are produced in
an FDA registered and inspected, food-grade, GMP-compliant facility and are tested by
third parties for safety and quality. In November 2018, MariMed (MRMD, not covered)
invested $30 mm in GenCanna, which established a long-term supply agreement
whereby GenCanna became MariMed's global hemp CBD supplier.
Highline Wellness. Co-founded by former Cowen alum Chris Roth and his business
partner Chris D'Alberti, Highline Wellness is a NYC-based CBD company currently
offering tinctures, chews (gummies) and topicals (pain cream). Highline products are
manufactured in Florida and the company sells direct-to-consumer. According to the
company, this provides for competitive pricing relative to their peers (which we would
classify as broadly mainstream). While still early days, Highline has an active presence
on social media platforms including a loyal group of followers on Instagram, which has
resulted in top line momentum to start off the year.
partner Chris D'Alberti, Highline Wellness is a NYC-based CBD company currently
offering tinctures, chews (gummies) and topicals (pain cream). Highline products are
manufactured in Florida and the company sells direct-to-consumer. According to the
company, this provides for competitive pricing relative to their peers (which we would
classify as broadly mainstream). While still early days, Highline has an active presence
on social media platforms including a loyal group of followers on Instagram, which has
resulted in top line momentum to start off the year.
Lazarus Naturals. Launched in 2014, Lazarus Naturals is an Oregon-based CBD
company, which offers products ranging from tinctures and capsules, to topical oils and
balms as well as isolates. Lazarus is value priced across the competitive set with one of
the lowest price/mg of CBD relative to the companies that we benchmarked against.
The company offers 60% discounts to veterans, individuals on long-term disabilities as
well as for low-income households. All sales primarily come from e-commerce and
products are shipped to all 50 states across the U.S.
company, which offers products ranging from tinctures and capsules, to topical oils and
balms as well as isolates. Lazarus is value priced across the competitive set with one of
the lowest price/mg of CBD relative to the companies that we benchmarked against.
The company offers 60% discounts to veterans, individuals on long-term disabilities as
well as for low-income households. All sales primarily come from e-commerce and
products are shipped to all 50 states across the U.S.
Lord Jones. Founded by Robert Rosenheck and Cindy Capobianco, Lord Jones
manufactures and distributes super-premium CBD infused products. The company
provides a broad array of product offerings, including tinctures, confections, capsules,
and skincare, among others. Clearly catered towards the premium-end of the market,
Lord Jones has announced several high-profile partnerships over the past couple of
years which includes collaborating with Equinox, partnering with luxury hotel group,
The Standard, and most recently, being the first CBD brand carried by Sephora.
manufactures and distributes super-premium CBD infused products. The company
provides a broad array of product offerings, including tinctures, confections, capsules,
and skincare, among others. Clearly catered towards the premium-end of the market,
Lord Jones has announced several high-profile partnerships over the past couple of
years which includes collaborating with Equinox, partnering with luxury hotel group,
The Standard, and most recently, being the first CBD brand carried by Sephora.
Mary's. Founded in 2013, Mary's produces and sells cannabis and hemp-derived CBD
products across three main segments, which include:
• Mary's Medicinals. Cannabinoid infused products for relief, available in 11 U.S.
states.
• Mary's Nutritionals. Hemp-derived CBD products for health & wellness, sold in
retailers and online in the U.S. and international markets
products across three main segments, which include:
• Mary's Medicinals. Cannabinoid infused products for relief, available in 11 U.S.
states.
• Mary's Nutritionals. Hemp-derived CBD products for health & wellness, sold in
retailers and online in the U.S. and international markets
COWEN.COM 61
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[Sidebar Text]: This report is intended for michael.cella@cowen.com. Unauthorized redistribution of this report is prohibited.
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