On January 20, 2020, Pyxus International released over PR Newswire that its wholly-owned indirect subsidiary Figr Brands, Inc. has launched a line of THC vape products in the Canadian marketplace. The line includes a vaping device and pods designed exclusively for the device.
The launch of the product line follows the phase two implementation of Canada’s recreational cannabis legalization process, frequently referenced as Cannabis 2.0.
“The Canadian government’s green light for derivative cannabis products, including vape, presents the opportunity for Figr to progress its product diversification in order to meet the growing demand for high-quality, adult-use cannabis products,” said Pyxus President, CEO and Chairman Pieter Sikkel. “The launch of Figr’s new products is particularly timely, as the company continues to expand its footprint across Canada.”
The production of Figr’s vape pods is tracked from seed-to-sale by SENTRIâ”, Pyxus’ proprietary track-and-trace platform. Data collected in the platform documents the product’s supply chain journey, and can be shared with the consumer, helping to elevate transparency and ensure quality.
Figr’s THC vape products will be available for sale through e-commerce channels and select Canadian retail locations, initially launching in Ontario followed by additional provinces as regulation and distribution permits.
Pyxus International Inc. (NYSE:PYX) is a global agricultural company with more than 145 years’ experience delivering value-added products and services to businesses and customers. Driven by a united purpose–to transform people’s lives, so that together we can grow a better world–Pyxus International, its subsidiaries and affiliates, are trusted providers of responsibly sourced, independently verified, sustainable and traceable products and ingredients.
Figr Brands, Inc.Figr is a vertically integrated legal cannabis company headquartered in Toronto, Ontario, that operates under one sole purpose: to put character into everything it does. Figr cannabis is sourced from the company’s two licensed subsidiaries located in Charlottetown, Prince Edward Island, and Simcoe, Ontario. Figr is a wholly owned indirect subsidiary of Pyxus International, Inc. (NYSE:PYX).
From Pieter Sikkel, President, CEO & Chairman, Pyxus International, issued the following statement regarding the trade agreement reached between the United States and China:
“Pyxus applauds the initial trade agreement finalized by the United States and China, and both governments for their perseverance in reaching this consensus. The agreement is a welcome first step to reopening China’s vast consumer market to U.S. agricultural products including tobacco. While this compromise is only one piece of a much needed comprehensive trade agreement and additional steps need to take place to restart leaf exports, it is an encouraging move in the right direction, helping to foster enhanced trade and promote greater opportunities for success in the global economy.
“For 146 years we have been purchasing and promoting product from U.S. farmers, and for more than 39 years, our company has worked to build strong relationships in China. In the year preceding the trade dispute, the U.S. exported $162 million worth of tobacco to China. Last year, that number decreased to only $4 million. This agreement should positively impact the U.S. agricultural industry and American tobacco farmers, who have been hit hard by the ongoing trade dispute.
“At Pyxus, we keep farmers at the heart of everything we do, which is why this has been a key area of focus for us. We are excited to build on the positive momentum and are hopeful that this signifies sustainable progress in United States-China relations and greater economic opportunity for farmers.”