Ohio Sells $75k in Successful First Day of Sales

Ohio Sells $75k in Successful First Day of Sales

PUBLISHED ON JANUARY 22, 2019, BY MASSROOTS

The four medical marijuana dispensaries that were open for business, on the first day of sales in Ohio, collectively sold 8.7 pounds of dried cannabis flower. According to the Ohio Medical Marijuana Control Program, that total volume generated $75,000 in sales. There are 60 licenses available in Ohio, but only four dispensaries were fully approved and stocked with product on January 16, 2018, the historical first day of legal sales.

The four dispensaries are:

CY+ Dispensary, 180 Main St. in Wintersville, OH

The Forest Sandusky, 1671 Tiffin Ave. in Sandusky, OH

Ohio Valley Natural Relief, 840 Canton Rd. in Wintersville, OH

The Botanist, 3840 Greentree Ave. SW in Canton, OH

While products for other methods of delivery, like edibles, capsules, tinctures, and topical lotions may be manufactured in Ohio, dried flower was the only form available on the first day.

The Ohio Tenth

Unlike the regulated markets in states like Colorado and Washington, all medical marijuana flower in the Buckeye State must be sold in packages measured to one-tenth of an ounce, known as the “Ohio tenth.” One-tenth of an ounce is 2.83 grams. This is slightly different than how it is typically done at dispensaries in other legal states, and on the black market, where flower is often sold by the gram, the eighth of an ounce, quarter of an ounce, and so on, all the way up.

The Price You Pay

As initially high prices were shocking to some patients, the cost of medical marijuana in Ohio is expected to drop slightly as more dispensaries open, and a wider variety of products become available. Joan Caleodis, 55, is credited as the first person to purchase medical marijuana in Ohio. Joan reported that she paid $150.00 for three of the one-tenth ounce packages of the same indica strain. “I’m ecstatic patients are no longer waiting for relief,” Joan said.

Home cultivation remains illegal, so patients have no other legal option but to pay whatever the going rate is for medication at the dispensary. “I understand the need to make back the money they put in, but this is – my god,” said Ken Horner, 65, who drove 3.5 hours from Dayton to CY+ Dispensary in Wintersville.

Patient Cards

Are you a patient suffering from one of the conditions that qualify for medical marijuana in Ohio? Do you still need to apply to the program? Follow this link to learn how to get a medical marijuana card in Ohio.

Photo courtesy of Chris Crook

Source: Ohio Sells $75k in Successful First Day of Sales


 





 

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TerraVia’s Algae Butter, Which Can Replace Palm Oil and Hydrogenated Oils, Receives FDA GRAS No Questions Letter (NASDAQ:SZYM)

Algae Butter Is A Revolutionary New Structuring Fat For Use in Bakery, Spreads, and Confectionery

SAN FRANCISCO–(BUSINESS WIRE)– TerraVia Holdings, Inc. (NASDAQ:TVIA) announced today that it has received a generally recognized as safe (GRAS) no questions letter from the U.S. Food and Drug Administration for its Algae Butter. This response paves the way for commercialization of this revolutionary structuring fat through its joint venture partner, Bunge North America.

Algae Butter is a palm-free, non-hydrogenated, vegan solution for bakery, spreads and confectionery applications. It delivers outstanding performance and enhanced sensory experience due to its quick melting feature. It also provides clean taste and can reduce saturated fat by up to 50 percent in most applications.

“The food industry has been searching for a replacement for palm and hydrogenated vegetable oils that maintains quality, taste and functionality and also meets their rigorous criteria for sustainable sourcing,” said Mark Brooks, Senior Vice President, TerraVia. “We believe Algae butter is a game changer for the structuring fats industry in terms of sustainability and nutrition.”

Algae Butter is exclusive to TerraVia and Bunge. It will be produced by the TerraVia and Bunge joint venture, SB Oils, and marketed in the U.S. by Bunge North America.

“We are excited to be offering this innovative solution as an additional choice to our foodservice and food processor customers in the U.S.,” said Mark Stavro, senior director of marketing, Bunge North America. “The potential of the product to meet so many on trend demands has been met with strong levels of interest from a number of our food customers.”

About TerraVia

TerraVia Holdings, Inc. (NASDAQ:TVIA) is a plant-based food, nutrition and specialty ingredients company that harnesses the power of algae, the mother of all plants and earth’s original superfood. With a portfolio of breakthrough ingredients and manufacturing, the Company is well positioned to help meet the growing need of consumer packaged goods and established and emerging food manufacturers to improve the nutritional profile of foods without sacrificing taste, and to develop select consumer brands. The Company also manufactures a range of specialty personal care ingredients for key strategic partners. Headquartered in South San Francisco, the Company’s mission is to create products that are truly better for people and better for the planet. For additional information, please visit TerraVia’s website at www.terravia.com

Finish read: TerraVia’s Algae Butter, Which Can Replace Palm Oil and Hydrogenated Oils, Receives FDA GRAS No Questions Letter (NASDAQ:SZYM)