DENVER, CO--(Marketwired - Feb 24, 2014) - Colorado-based O.penVAPE™, manufacturer and distributor of cannabis pens and elixir cartridges, realized unprecedented sales since recreational use of cannabis became legal in Colorado January 1 and on track for a 800% growth year with new licensees coming in Oregon, Massachusetts, Nevada, Maryland, Arizona, and internationally in Canada.
Todd Mitchem, chief revenue officer and spokesperson for O.penVAPE, said sales continue to increase with the growth of medicinal and recreational cannabis shops, which sell O.penVAPE products in Colorado, Washington and California. By mid-January, O.penVAPE was already selling an average of two cannabis oil-filled cartridges every minute of every day for $25 to $35 each.
"We're delighted with the popularity of the product and we are now selling four and five units every minute at a steady rate," he said. "This demonstrates the popularity of our pens and oils among adults who are looking for high quality products that they can enjoy in a safer and non-intrusive manner."
The cannabis oil cartridges are manufactured by O.penVAPE affiliates, Organa Labs and Bakked, using CO2 extraction or Supercritical Fluid Extraction (SFE). Mitchem said the process is the most natural and effective way to extract beneficial essences from plant matter.
"This method is not only used for cannabis concentrates, but is also used to create pure essential oils and to strip out or separate different elements of many kinds of botanicals," Mitchem said.
Popular products manufactured using this method include herbal essential oils, hops for beer, high value pharmaceutical precursors and decaffeinated coffee.
"We envisioned that cannabis consumers would demand safer, more consistent and higher quality products as the market matured," Mitchem said. "Early in our venture we researched and then invested heavily in processes, expertise and equipment, so we could manufacture with attention to purity and safety and introduce the best cannabis products from the start."
O.penVAPE is the largest national cannabis brand in the United States. O.penVAPE's leaders, investors and employees are committed to change the way the public views cannabis. A Colorado company, O.penVAPE manufactures vaporizer pens. Its affiliates, Organa Labs and Bakked, produce a variety of quality elixirs for the delivery of the highest quality cannabis for adult recreational and medicinal use. O.penVAPE licenses its products in Colorado, California and Washington. Organa Labs and Bakked manufactures, packages and sells its elixirs in full compliance with state law. For more information, please visit www.openvape.com.
NOTE: Learn more about O.PenVAPE by tuning in to Harry Smith's CNBC series, "Marijuana in America," Wednesday, Feb. 26 at 10 p.m. EDT.