Goodness Growth Holdings, Inc. (CSE:GDNS) (OTCQX:GDNSF) announced Wednesday that the United States Patent and Trademark Office ("USPTO") has issued a Notice of Allowance for its subsidiary company Resurgent Biosciences, Inc.'s patent application titled, "Cannabis Based Moist Snuff." This patent covers both the product delivery format and the process for creating a moist snuff from cannabis plants.
Cannabis-based snuff products present an opportunity to commercialize a new cannabis product form factor in a delivery format that already has proven appeal to consumers in the multi-billion-dollar tobacco industry, in which moist snuff is the highest selling smokeless product category.
The patented process will allow Resurgent Biosciences and its license holders to monetize future cannabis snuff products and brands through the creation of new revenue stream opportunities in both the retail and wholesale sales channels.
Resurgent's patented process will enable the creation of cannabis moist snuff products that will offer consumers a quicker rate of onset and bioavailability than ingested edible products, but at a slower rate of onset than smoking or vaping cannabis. The moist snuff products can be developed with or without various cannabinoids and be created with varying levels of THC, CBD, CBN and customizable terpene profiles to create varying effects and outcomes for adult-use consumers and medical patients.
"The receipt of this patent highlights the quality and strength of innovation from our team at Resurgent Biosciences, and is consistent with our long-term strategy to develop meaningful, protectable intellectual property and simultaneously disrupt the tobacco industry with safer, cannabis-based alternatives," chairman & CEO Kyle Kingsley, M.D. stated. "We believe cannabis snuff products could have wide appeal to consumers in the future, and we look forward to partnering with organizations who recognize the substantial value these innovations and future generation of products could represent."
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Price Action: Goodness Growth’s shares were trading flat at $1.39 per share at the time of writing Wednesday late morning.