Pubdate: Wed, 06 Dec 2017
Source: Chicago Tribune (IL)
Copyright: 2017 Chicago Tribune Company


Turns out, this bud isn't just for you.

True Leaf Medicine International Ltd., a small Canadian company
operating in the country's fast-emerging marijuana industry, plans to
sell dog chews containing cannabis extracts.

True Leaf already makes hemp-seed infused products for dogs to ease
joint pain, anxiety and inflammation. It intends to raise C$10 million
($7.8 million) through an equity crowdfunding in the U.S. to build a
marijuana production facility in British Columbia, eventually allowing
it to extract cannabidiol -- a cannabis compound without psychoactive
properties -- to treat medical conditions in both humans and animals.

"People are spending more money to look after their pets, specifically
as they get older," Chief Executive Officer Darcy Bomford said in a
telephone interview from Vernon, British Columbia. "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."

True Leaf introduced its hemp-based pet products in 2015 and now sells
chews and oils in 1,600 North American stores and more than 300
locations across Europe. Natural supplements for pets are becoming
more popular and the global market may be as large as $1.6 billion,
Bomford estimates.

The hope is that cannabidiol, also known as CBD, may eventually be
used to help older dogs, whether they're having trouble jumping in the
car or are struggling with long walks, Bomford said.

"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."

True Leaf's shares rose 2.4 percent at 11:06 a.m. in New York. They
have quadrupled this year, giving the company a market capitalization
of C$59.9 million ($46.5 million).
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MAP posted-by: Matt