Another pot stock is getting into the cannabis-based PPE trend
Health & Biotech
Health & Biotech
Australian Primary Hemp (ASX:APH) is the latest pot stock to launch a cannabis-based personal protective equipment (PPE) product.
Australian Primary Hemp is best known for its hemp-based food products. Hemp is a variety of cannabis grown specially for its fibre and contains low levels of THC and slightly higher levels of CBD.
Today the company formally launched a hemp-based face mask to complement its hemp-infused hand sanitiser.
The company claims the masks are reusable, biodegradable and sustainable-sourced.
Australian Primary Hemp also told shareholders the masks were in demand with $315,000 in orders to date. The company’s hand sanitiser is already available online while face masks will be available immediately.
Shares rose as high as 20 cents in early trade. As at 11am they were sitting at 18.5 cents – 16 per cent higher than yesterday and putting them slightly in positive territory in 2020.
Australian Primary Hemp is not the only pot stock to be in the cannabis-based PPE business.
Ecofibre (ASX:EOF) launched its own range of face masks and neck gaiters back in April. These utilise the company’s hemp technology in a textile that boasts moisture-wicking, antimicrobial and thermal regulating properties.
Enjoying my hemp derived face mask produced by @ecofibre using @hempblackusa carbon. We believe hemp has tremendous medical and health potential with antibacterial properties. pic.twitter.com/LFvFJubCo7
— Ryan Quarles (@RyanQuarlesKY) May 14, 2020
Distribution began in Australia in July and in the USA before that.
The company last updated shareholders at the end of July when it said it had made 135,000 masks in May-June resulting in $2.4 million in revenues.
Micro-cap stock eSense-Lab (ASX:ESE) has made a play too, specifically for hand sanitisers.
The company has historically made fragrant oil found in plants and supplied it to cannabis companies. Back in May it did a deal with a private Israeli biotech to make anti-viral hand sanitisers based on these oils.
It hopes because OC43 has a similar molecular structure to SARS-CoV-2 – the virus causing COVID-19 – it could be similarly effective.
At Stockhead, we tell it like it is. While eSense-Lab is a Stockhead advertiser, it did not sponsor this article.