Pets and pot must be a little bit of a theme currently. Last week, we wrote an article on EnviroTechnologies International (OTCPK:ETII) launching a new line of cannabidiol (CBD) products for pets. To start off the new week, Advantis Corp. (OTCPK:ADVT) announced its plans to move forward with a pet division and debut of CBD-based pet products.
For clarity, neither of these companies are talking about getting pets "high" in the sense that some may associate with cannabis. THC (tetrahydrocannabinol), one of over 113 active cannabinoids found in marijuana, is responsible for the psychotropic effect associated with the plant. While CBD is also a cannabinoid, it isn't associated with the "stoned" sensation. The substantial medicinal benefits of CBD to help treat pain, nausea, inflammation and even serious diseases like cancer and epilepsy are a constant topic of debate as cannabis legalization sweeps across North America.
Advantis says that this has been years in the making between Advantis Legal Counsel Geoffrey Broderick, Jr. and his famous veterinarian father Dr. R.G. "Dr. Geoff" Broderick. Dr. Geoff has over five decades in the industry developing treatments and cures for animals, including the clinically proven medication Cornucopia Superfood for the treatment of autoimmune-related diseases and conditions in pets.
The father-and-son duo have been working over the last few years to blend in CBD to create a new nutraceutical product. "We have a CBD-infused pet supplement that no one can replicate, due to the specific process and ingredients," said Advantis chief executive Darren Cherry in today's announcement on the pet division initiative. The younger Broderick will be responsible for building the unit as he sees fit. According to Cherry, existing partners will be testing the new product this summer.
Shares of ADVT, which enjoyed a tremendous run from around $0.008 in December to as high as $0.0.94 in January (a move of 1,075%) have pulled back some from the high, but are still holding most of the gains. With the news Monday morning, the stock is only up about one-third of a percent, holding at 5.4 cents shortly after the opening bell.