The Company sources natural hemp cannabinoid raw materials tested by an independent third-party laboratory. Pure Health Products, LLC (PHP), a New York limited liability company, serves as the Company's manufacturing division for all CBD products. The Company acquired 100% membership interests in PHP in December 2018 and maintains an exclusive production agreement with it. In January 2019, PHP acquired assets from Seven Chakras, LLC, including proprietary formulas, trade secrets, tradename, domain name, social media sites, raw materials, equipment, packaging, labeling materials, mailing lists, and marketing materials. The Company's branded CBD products, Canbiola™ and Pure Leaf Oil™, are manufactured by PHP. In the third quarter of 2023, PHP's assets were consolidated into CO Botanicals' facility in Fort Morgan, Colorado, resulting in the closure of the Lacey, Washington facility. The hemp operating division conducts research and development and produces industrial hemp, hemp biomass, isolate, and isomers. The Company acquired assets through Botanical Biotech, LLC in March 2021, and in August 2021, together with CO Botanicals LLC, acquired hemp processing assets from TWS Pharma, LLC and L7 TWS Pharma, LLC, both Wisconsin limited liability companies. Suppliers referenced include Botanical Biotech, LLC, CO Botanicals LLC, L7 TWS Pharma, LLC, Pure Health Products, LLC, Seven Chakras, LLC, and TWS Pharma, LLC.
Can B's Comment on Supply Chain
The Company sources natural hemp cannabinoid raw materials tested by an independent third-party laboratory. Pure Health Products, LLC (PHP), a New York limited liability company, serves as the Company's manufacturing division for all CBD products. The Company acquired 100% membership interests in PHP in December 2018 and maintains an exclusive production agreement with it. In January 2019, PHP acquired assets from Seven Chakras, LLC, including proprietary formulas, trade secrets, tradename, domain name, social media sites, raw materials, equipment, packaging, labeling materials, mailing lists, and marketing materials. The Company's branded CBD products, Canbiola™ and Pure Leaf Oil™, are manufactured by PHP. In the third quarter of 2023, PHP's assets were consolidated into CO Botanicals' facility in Fort Morgan, Colorado, resulting in the closure of the Lacey, Washington facility. The hemp operating division conducts research and development and produces industrial hemp, hemp biomass, isolate, and isomers. The Company acquired assets through Botanical Biotech, LLC in March 2021, and in August 2021, together with CO Botanicals LLC, acquired hemp processing assets from TWS Pharma, LLC and L7 TWS Pharma, LLC, both Wisconsin limited liability companies. Suppliers referenced include Botanical Biotech, LLC, CO Botanicals LLC, L7 TWS Pharma, LLC, Pure Health Products, LLC, Seven Chakras, LLC, and TWS Pharma, LLC.
Sources:
Can B Corp 's official press releases and regulatory filings; CSIMarket.com's supply-chain research; and the financial filings and press releases of other companies cited in this report.
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