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Thoughtful Brands moving fast to become top CBD and psychedelic medicine player

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  • Owns farm-to-consumer CBD operations in Columbia, Europe and North America
  • Established new foothold in emerging field of psychedelics to treat anxiety, mood, and substance-abuse disorders
  • In the first half of 2020, it spent some US$85 million on strategic acquisitions

What Thoughtful Brands does:

Thoughtful Brands Inc.(CSE:TBI) (FWB:1WZ1:GR) (OTCQB:PEMTF), the renamed Mota Ventures, is a vertically integrated cannabidiol (CBD) and psychedelic medicine company with operations in North America and South America as well as Europe.

The Vancouver-based company’s origins began in Colombia. In December 2019, the company changed its name from Primary Energy Metals to transform into Mota Ventures after it acquired Columbian cannabis producer NNZ Consulting Corp. Another Columbian acquisition - subsidiary Ihuana SAS – operates a 2.5-hectare growing site and a 2,000 square-foot research and development facility.

Outside South America, it owns European psychedelic medicine company Verrian Ontario Ltd and has a binding deal to purchase e-commerce platform Unified Funding, a direct-to-consumer retailer of CBD and natural health products in Europe and the US that recently entered the psychedelics market. It also owns online retail business First Class CBD of Wyoming, which had been operated by Unified Funding.  

Thoughtful runs the popular Nature’s Exclusive brand that includes CBD oil drops, CBD gummies, CBD pain relief cream, CDB skin serum and CBD coffee. The CBD oil is distilled from US-grown hemp with the end products sold in the US and Europe. 

Within Europe, the company’s Satividia brand of award-winning 100% organic CBD oils and cosmetics are sold throughout Spain, Portugal, Austria, Germany, France, and the UK. Satividia is also an online retailer in Spain and Mexico. 

In addition, the company holds a 20% interest in Folium Life Sciences Inc, which is developing a licensed indoor cannabis production facility on Vancouver Island.

How is it doing:

The name change to Thoughtful Brands, which was made on August 14, 2020, is part of an effort to better reflect the success of the group’s strategic growth and its drive to acquire and develop branded products and research initiatives in the natural health products space.

During the first quarter of 2020, the group created a joint venture with BevCanna Enterprises Inc (CSE:BEV) (OTCMKTS:BVNNF) to distribute BevCanna’s hemp-derived CBD infused drinks in the European market.

The growth has not stopped heading into the rest of its current year, with Thoughful revealing a new agreement in June with Oregon-based Sweet Earth Holdings Corp (CSE:SE) to sell CBD dog treats.

And acquisitions are also still on the agenda, with the group in August inking letters of intent to acquire Golden Path and Wild Mariposa, companies involved in the online marketing and distribution of consumer health products.

The group’s Nature’s Exclusive brand is also on the up, with the firm saying the segment acquired 102,844 new customers during the six-month period ended June 30, 2020, an “all time high” for new customer acquisitions within any six-month window for the brand.

Thoughtful has also pushed ahead into more continents, striking a binding agreement with Franchise Cannabis Corp to form a joint venture in Europe to market Franchise-manufactured CBD, hemp and cosmetic products in the European Union, UK, Switzerland, and Norway.

For its first quarter ended March 31, 2020, the company posted unaudited consolidated revenue of C$7.65 million, with the cost of goods sold at C$7.05 million, resulting in gross profits of C$605,150.

Operating and other operating expenses for the three month period totalled C$5.24 million. Meanwhile, the company raised C$1.72 million through share subscriptions by issuing units at C$0.28 and receiving C$309,000 in proceeds from the exercise of warrants, and ended the first quarter with C$2.1 million in cash.

CEO Ryan Hoggan said the 1Q results were in line with expectations despite what he said were “unprecedented uncertainties” thrown up by the coronavirus pandemic.

Inflection points:

  • On track to achieve 2020 goals
  • Expand First Class’s existing operations in the US and Europe
  • Increase investment in customer acquisition and retention
  • Realize supply chain efficiencies to reduce product costs

What the boss says:

In a statement on its name change, the company’s CEO Ryan Dean Hoggan said: “The rebranding and new name represent our multi-faceted expansion and evolution strategies moving forward.”

“The change also reflects our commitment to becoming a global leader in the natural products industry. We are already making pivotal progress in the space through our work in psychedelics research, as well as by making quality hemp-derived CBD products more accessible worldwide through our eCommerce technology platform-and yet we are just starting to scratch the surface,” he added.

Story by ProactiveInvestors


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