In this edition of "Rising High," The Fly conducted an exclusive interview with chief executive officer Greta Gaines and president Robert Kane of Omnicanna Health Solutions (ENDO), a U.S. company specializing in hemp-based health and wellness solutions. Here are some of the highlights:
HEMP HEALTH AND WELLNESS: Omnicanna Health Solutions, which is helmed by American singer, songwriter and cannabis rights activist Gaines, develops natural hemp-based health and wellness solutions as well as cosmeceutical, nutraceutical and food brands. The company currently owns and operates the brand The Hempery, a developer of products for skin containing hemp seed oil, as well as brand Hemp Tasty, which produces seasoning blends with hemp heart seeds. Gaines said “Omnicanna’s first focus is on research and that has taught us that our clients want their product purchases to go further by spending less for higher potency.” She added that through Omnicanna’s own proprietary processing method and quality control process, the company developed a product line with higher levels of CBD typically available in the market. “Finally, as we firmly believe that everyone should have access to the healing benefits of the hemp plant, we prioritize pricing our products lower than most of our competitors,” she said. When asked about the company’s focus on the brands, Gaines said Omnicanna will maintain its concentration on the development and branding of those two lines only. “Yes, the possibilities of the market are enormous, but we’ve already done our research and tested it,” she said. “We stand by our product formulations creating the best products in this crowded space. The topicals to nourish your body from the outside and food to nourish your body from the inside create a whole natural being.”
The CEO added that Omnicanna has future products in the pipeline.
COMPETITIVE EDGE: When asked about the company’s key differentiators, Kane said the first part of Omnicanna’s competitive edge is the people behind the products. “Our CEO Greta Gaines and our Head of Food Services Chef Wayne Howey are truly one of a kind,” he said. “Greta Gaines is a natural master at formulating the personal care product lines and has hemp in her veins.” The president added The Hempery product line is comprised of the actual products Gaines created to take care of her own skin challenges while she was performing on tour. “As her friends and family were amazed by the results she was seeing, they started asking about buying them themselves,” he said. “It only made sense to make them available to the general public.” Following the success of The Hempery, Kane said Omnicanna duplicated the strategy with the Hemp Tasty product line. “We brought in Chef Wayne Howey, an international award-winning chef who believes in clean eating,” he said. “We wanted to stand out by concentrating on a food line that released the benefits of CBD during digestion. The market is saturated with gummies, cookies and lots of products with added sugars and chemicals that just aren’t good for your body. Our food line and the companion recipes are higher end, focused on meals rather than sugary snacks.” Kane said another way the company strongly differentiates itself from competitors is its research methodology. “Our partnership with Cannabis Science allows us to combine both research to a level that is second to none,” he said. “Our mission is to educate our clients that the quality of what you put in your body and on your skin is more important now than ever.”
CANNABIS SCIENCE CSI-EDP: On July 28, Omnicanna announced it had joined the Cannabis Science Economic Development Plan, a self-driven community program focused on job creation and education. Omnicanna joined an exclusive licensing group headed by Live Negotiator Corporation. The licensing group shares the revenues derived from each technology released based on their financial support and operational involvement. Gaines said she sees the benefits of joining in adding Omnicanna’s talents to the cooperative and expanding everyone’s resources, especially research. “The EDP team is focused on FDA initiatives, educational components, state by state distribution and dosing,” she said. “It also allows us to tap into and benefit from others expertise to get products launched with cooperation for observational statements with Cannabis Science.”
CORONAVIRUS: When asked about the impact the coronavirus outbreak has had on Omnicanna, the CEO said the current outbreak has impacted the company positively in two ways. “First it has given momentum to the two technology market place sites, www.livenegotiator.com and www.icannabinoid.com,” she said. “Second, through the EDP, we believe that cannabinoids may show positive results when it comes to battling the COVID-19 virus.” Gaines noted the pandemic has caused an uptick in concern and anxiety due to the unknown. “Offering people all-natural plant-based anxiety relief alternatives steps outside of the medical melee that is COVID-19 and provides an optimized lifestyle,” she said. “We are at the right place at the right time.”
INVESTOR INTEREST: As investor interest increases in the space, Gaines said investors should keep an eye out for companies that have a research component combined with unique proprietary products. “That combo creates an attractive footprint for acquisition,” she said. “So many CBD companies and health companies in general are all copy-cats. They do white labeling and eventually will be squeezed out, not necessarily by their competition but large distributors also doing the same white-label products. That’s why a strong unique brand is important.”
CHALLENGES: When asked about the biggest challenges facing the industry, the CEO said she sees the biggest hurdle in the large amount of CBD companies in the space without knowledge and expertise. “Any industry is the reality of the invested research,” she said. “Companies need access to capital to do research and in a lot of industries, no one wants to do the research. They just want to flip for a quick buck in this new ‘green’ industry but a footprint still needs to be acquired. The biggest challenge in this industry is the large amount of CBD companies that have no idea what they are doing and will be diluted out in the near future.” She added another challenge is the overall learning curve for people to get their heads above those dilution companies. “Omnicanna has the expertise and education to rise above all of the others,” she said.
WHY OMNICANNA?: In getting into the hemp industry, Gaines said the first time she heard about the plant being used for anything other than clothing was in 2000. “I had been invited to perform Pink Houses with John Mellencamp at Farm Aid,” the CEO said. “Neil Young pulled up to the venue in a bus fueled by hemp ethanol and my mind was blown.” Gaines said she then became an activist alongside so many of the farmers and performers she met. “I felt compelled to put all my energy into educating people about the benefits of the cannabis sativa plant,” she said. “I spent years educating myself as to all the aspects of the plant and fell in love with the idea of what hemp could do for the skin and body.” Gaines said The Hempery line of products was born as she begin making formulations for friends and family. “People around me got hooked on how good their skin felt and encouraged me to manufacture the all-natural products for everyone's benefit,” she said. “CBD helps create balance in the body…When I saw firsthand how hemp heals, I was hooked for life to do everything that I could do to protect and promote this most amazing plant.” Gaines added there are lots of CBD companies in the market, but she chose Omnicanna because of the long-term benefits of a scientific research based company. “My goal as CEO is to fill the gaps and bring the research together in an efficient format to share with the world,” she said. “To give people access to products that really make a difference. Omincanna has an eye on longevity. We will be around, and available, after the ‘green rush’ is over.”
OTHER CANNABIS STOCKS: Other publicly-traded companies in the space include Akerna (KERN), Aleafia (ALEAF), Aphria (APHA), Aurora Cannabis (ACB), Auxly (CBWTF), Biome Grow (BIOIF), CannTrust (CTST), Canopy Growth (CGC), Canopy Rivers (CNPOF), Cresco Labs (CRLBF), Cronos Group (CRON}, CV Sciences (CVSI), Delta 9 (VRNDF), FluroTech (FLURF), General Cannabis (CANN), Green Thumb Industries (GTBIF), Greenlane (GNLN), GrowGeneration (GRWG), Harborside (HSDEF), HEXO (HEXO), Hemp Inc. (HEMP), India Globalization Capital (IGC), Indiva (NDVAF), Indus Holdings (INDXF), Innovative Industrial Properties (IIPR), Khiron Life Sciences (KHRNF), Liberty Health Sciences (LHSIF), MediPharm (MEDIF), MedMen (MMNFF), MJardin (MJARF), Neptune Wellness (NEPT), Organigram (OGI), Planet 13 (PLNHF), Sproutly (SRUTF), Sunniva (SNNVF), Supreme Cannabis (SPRWF), Valens (VLNCF), Tetra Bio-Pharma (TBPMF), Tilray (TLRY), Trulieve (TCNNF), Vireo Health (VREOF), Wayland Group (MRRCF), WeedMD (WDDMF), Wildflower Brands (WLDFF), YSS Corp. (YSSCF), Zynerba (ZYNE) and 4Front Ventures (FFNTF).
OmniCanna Health
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APHA
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Aurora Cannabis
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CV Sciences
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CannTrust
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Canopy Growth
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Cronos Group
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Trees Corporation
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IGC Pharma
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Tilray
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Trulieve Cannabis
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ZYNE
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