Thoughtful Brands Shifts Focus to American CBD Market, Dissolves Psychedelics Subsidiary

Vancouver-based company, Thoughtful Brands, has made the decision to dissolve its German subsidiary, Verrian, in order to prioritize its core business operations. The company will now concentrate on direct-to-consumer brands, e-commerce, and the vertical integration of its supply chain.

Verrian had been involved in the field of psychedelics, specifically in the treatment of anxiety, mood disorders, and substance abuse. It operated a pharmaceutical manufacturing facility in Radebeul, Germany, which conducted clinical studies on psychedelic compounds for opiate addiction treatment. However, due to insufficient working capital to sustain operations and meet creditor demands, Verrian has filed for insolvency protection in Germany.

Thoughtful Brands recently acquired American CBD Extraction Corp, a hemp grower and processor based in Kentucky. This strategic acquisition allows the company to achieve full vertical integration by controlling all aspects of the supply chain, including production, logistics, and value chain. Thoughtful Brands plans to launch new CBD brands known for their superior quality, using hemp that it has extracted and produced in-house, as well as developing products for future brand clients.

While the closure of Verrian coincides with a growing acceptance and commercial interest in psychedelics, such as the recent legalization of psilocybin in Oregon, Thoughtful Brands believes the potential return on investment from Verrian would take too long to justify the current expenses. As the psychedelics industry attracts investor attention, it’s important to recognize the limited current opportunities for profitable business in this niche market.