Although it may not be available in Australia for some time due to regulatory restrictions, the newest range of Cronos Australia’s (ASX: CAU) cannabidiol gels to aid high performance are set to hit retail shelves in Hong Kong and Japan.
The FCTR range (pronounced Factor) of gels contain pure cannabidiol (CBD) which is mixed with other natural ingredients such as curcumin and arnica. The initial products are a warming gel and cooling gel which will retail in Hong Kong for HKD $190 and in Japan for JPY 2273 (approx AUD $27).
At present, the products are manufactured entirely in Japan in line with CBD manufacturing regulations where the gels are rapidly absorbed into the skin without leaving surface residue.
“Our market engagement has shown that elite athletes and their coaching teams have three key concerns about CBD topical products,” said Cronos Director, Nick Mulcahy.
“Firstly, they must be pure and compliant with World Anti-Doping Agency guidelines. Secondly, CBD must be made more affordable. Thirdly, athletes want a CBD sports product with the same design, usability and effectiveness standards that they expect from the rest of their gear.
“With our first two FCTR products, we believe we have successfully addressed each of those concerns.”
Both gels will initially be available in Hong Kong through Sure Step retail stores, as well as eCommerce website getfctr.com which has large customer bases in Hong Kong and Japan.
“Elite and recreational athletes are increasingly aware of the high potential of CBD as part of their training and recovery programs,” said Sure Step Founder and Managing Director, Kirsty Hulme.
“We are confident that FCTR’s first two products are well-positioned to meet the needs of our most demanding customers.”
The launch of Cronos’ FCTR range is an extension of their existing medical cannabis products specifically designed for wellness in the Asia Pacific region. For the Half-Year ended 31 December 2020, the Company reported $376k revenue from their existing range of CBD products.
CAU shares responded well to news of their FCTR range being launched to reach a high of $0.14 in morning trade, a rise of 16% on their previous $0.12 close.