An Edmonton company that is already well-known for its craft cocktail bitters has set its sights set on the marijuana oil extraction market, now that edibles and oils are legal for Canadians to consume.
Keenan Pascal, CEO of Token Naturals, said Wednesday that while the company launched its bitters division several years ago, it has had its sights on the marijuana market for some time.
“We’re actually doing a natural evolution for our bitters,” said Pascal.
“Now we’ve looked at taking that expertise that we’ve grown through the marketing, the local Edmonton scene, and [are] bringing it into the cannabis space.”
The company said it has obtained a lease for a large facility in north-central Edmonton off the Yellowhead. There, the company will focus on extracting CBD and THC out of dried flowers for use in oils, beverages and other edible products. The company will not be growing its own cannabis.
Construction officially began on the extraction facility on Tuesday, and it is expected to open in 2020, according to Pascal.
The company will be able to extract and send off oil to other manufacturers but will also be launching its own product line. Pascal said he believes there are similarities between creating cocktail bitters and weed oils.
“In mid-2020, you’ll see our first products that will be Token-branded drink drops,” he said. “Something you can add to your beverage, your water, your tea.”
Pascal said that they’ve already been working with Health Canada and the city to obtain all the necessary permits, including a major development permit that allows for construction. The city told Global News that the company was still waiting on a building permit and the process was ongoing.
Pascal said the facility will create around 40 new jobs in the Edmonton area once it is fully operational.
“As a company, as a brand, Edmonton has been so critical in our development from young entrepreneurs… to where we are now,” Pascal said.
Token Bitters first launched its small-batch, locally themed cocktail flavouring side of the business in 2016. They are currently sold online, at Hansen Distillery and at select liquor stores in the city.
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