Goodness Growth Holdings Subsidiary Resurgent Biosciences Receives Patent for Cannabis-Based Moist Snuff Products

Rhea-AI Summary

Goodness Growth Holdings (CSE: GDNS; OTCQX: GDNSF) announced that its subsidiary, Resurgent Biosciences, has received a Notice of Allowance from the USPTO for a patent on "Cannabis Based Moist Snuff." This patent protects the delivery format and production process for a new cannabis product. The moist snuff aims to tap into the multi-billion-dollar tobacco market, targeting both retail and wholesale sales. The product promises quicker bioavailability compared to edibles while being customizable in cannabinoid profiles. This innovation aligns with the company's strategy to offer safer cannabis alternatives.

Positive

• Patent allows for commercialization of cannabis-based moist snuff, expanding product offerings.
• Potential to enter the lucrative tobacco industry, which has significant consumer appeal.
• Customizable cannabinoid profiles offer versatility for adult-use consumers and medical patients.

Negative

• None.

MINNEAPOLIS, Sept. 1, 2021 /PRNewswire/ -- Goodness Growth Holdings, Inc. ("Goodness Growth" or the "Company") (CSE: GDNS; OTCQX: GDNSF), a physician-led, science-focused cannabis company and IP incubator, today announced 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.

"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," said Chairman & Chief Executive Officer, Kyle Kingsley, M.D. "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." 

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. To learn more about Resurgent Biosciences, please visit https://goodnessgrowth.com/resurgent-biosciences.

About Goodness Growth Holdings, Inc.

Goodness Growth Holdings, Inc., is a physician-led, science-focused holding company whose mission is to bring the power of plants to the world. The Company's operations consist primarily of its multi-state cannabis company subsidiary, Vireo Health, Inc., and its science and intellectual property incubator, Resurgent Biosciences, Inc. The Company manufactures proprietary, branded cannabis products in environmentally friendly facilities and state-of-the-art cultivation sites, and distributes its products through its growing network of Green Goods™ and other retail locations and third-party dispensaries. Its teams of more than 500 employees are focused on the development of differentiated products, driving scientific innovation of plant-based medicines and developing meaningful intellectual property. Today, the Company is licensed to grow, process, and/or distribute cannabis in eight markets and operates 18 dispensaries across the United States. For more information about Goodness Growth Holdings, please visit www.goodnessgrowth.com.

Contact Information

Investor Inquiries:
Sam Gibbons
Vice President, Investor Relations
samgibbons@goodnessgrowth.com 
(612) 314-8995

Media Inquiries:
Albe Zakes
Vice President, Corporate Communications
albezakes@goodnessgrowth.com   
(267) 221-4800

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SOURCE Goodness Growth Holdings, Inc.

FAQ

What is the recent patent approved for Goodness Growth Holdings subsidiary?

Goodness Growth Holdings' subsidiary, Resurgent Biosciences, received a patent for "Cannabis Based Moist Snuff," which covers both the product format and production process.

How does the cannabis moist snuff compare to other cannabis products?

The cannabis moist snuff offers a quicker bioavailability than edibles, with a slower onset compared to smoking or vaping.

What market opportunity does the patent for cannabis snuff present?

The cannabis moist snuff patent opens new revenue streams in the retail and wholesale markets, targeting consumers from the multi-billion-dollar tobacco industry.

What is Goodness Growth Holdings' strategy with the new patent?

The company aims to develop meaningful intellectual property and provide safer cannabis alternatives to disrupt the tobacco industry.