- Google will change its requirements for product ads on January 20, 2023, to allow the promotion of FDA-approved pharmaceuticals containing CBD and topical hemp-derived CBD products in California, Colorado, and Puerto Rico
- Non-FDA-approved CBD topicals will require certification from LegitScript, which will test THC compliance and review the third-party Certificate of Analysis of each product to be promoted
- With the growing acceptance of cannabis, REZYFi is positioned in the financial industry as one of the first cannabis mortgage bankers in the United States
In the United States, cannabis-related products are growing in acceptance, even in mainstream media. A recent announcement from Google advises that the company will update its Dangerous Products and Services and Healthcare and Medicines Google Ads policies on January 20, 2023. Google will allow for the promotion of FDA-approved pharmaceuticals containing cannabidiol (“CBD”) and topical, hemp-derived CBD products with a tetrahydrocannabinol (“THC”) content of 0.3% or less in California, Colorado, and Puerto Rico. Non-FDA-approved topicals will require verification through LegitScript. Google will continue to disallow ads promoting other CBD-based products, including supplements, food additives, and inhalants (https://nnw.fm/NCMzO).
For non-FDA-approved CBD topicals, LegitScript’s certification will require that products sought to be advertised: (1) provide samples for compliance testing of legal THC limits, and (2) provide a third-party Certificate of Analysis. LegitScript charges a fee for processing and monitoring applicants. However, through March 31, 2023, the company is offering a waiver of application fees with promo code “CBDPRODapp” for product certification (https://nnw.fm/wUcpq).
Since 2016, when California legalized cannabis, the state has shown a growing acceptance – which has been working its way across the country. According to Pew Research Center, nearly 90% of adults in the US favor cannabis, with 59% showing favor for recreational and medical use and 30% showing favor for medicinal use only (https://nnw.fm/7L7NO). Not all industries have embraced the acceptance of cannabis, though, with many traditional financial institutions still reticent to serve the state-licensed cannabis industry.
Disrupting the financial industry and favoring cannabis-related companies is REZYFi, a growth mortgage origination and specialized financing company in the United States. REZYFi originates, structures, and invests in first mortgage loans and alternative structured financings secured by commercial real estate properties. The company targets markets that include licensed and permitted cannabis companies, owners of real estate who lease to cannabis companies, and companies and individual homeowners seeking a variety of real estate-related first and additional mortgage-based financing.
REZYFi works through two wholly-owned subsidiaries – REZYFi Lending, which primarily addresses emerging real estate-related financing opportunities, and ResMac Inc., the company’s traditional mortgage origination, correspondent, and servicing operation. Through these subsidiaries, REZYFi plans to use its corporate strengths – experience, a network of independent brokers, and proprietary technology – to provide an essential source of growth within the cannabis industry, positioning itself as one of the first cannabis mortgage bankers in the United States.
Combined, the medical and recreational use of cannabis are expected to reach a market value of $33 billion by the end of 2022, with retail cannabis sales projected to reach $52.6 billion by 2026 (https://nnw.fm/rYsph). The growth is attributed to more state voters accepting cannabis for recreational and medicinal use. The growing acceptance of cannabis for medicinal and recreational use is driving markets in various industries, creating a call for services, including financing options – which REZYFi is uniquely positioned to answer.
For more information, visit the company’s website at www.REZYFi.com.
NOTE TO INVESTORS: The latest news and updates relating to REZYFi are available in the company’s newsroom at https://nnw.fm/REZY
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