by Matt Maurer, Torkin Manes LLP and Jay Rosenthal, Business of Cannabis
On August 18, we welcomed over 400 attendees to Business of Cannabis and Torkin Manes LLP’s latest online event: Canadian Cannabis: What’s Next?
We heard from dozens of industry leaders from throughout the Canadian cannabis supply chain – from cultivators to retailers – and there were three themes we heard the most:
We are clearly entering – or have entered – a new phase of the Canadian cannabis sector. We are calling it the sink-or-swim-or-consolidate phase. On the LP and brand side, we have seen large producers consolidate smaller brands – like HEXO with Redecan and 48North. On the other end of the supply chain, we have seen larger retailers consolidate smaller players – like Fire & Flower buying Friendly Stranger and Kiaro buying Cozy Cannabis. And from what we heard from leaders on August 18th – this may just be the beginning.
Changes Needed for Medical Cannabis
Medical cannabis patients were the cannabis pioneers in Canada – and the system serving them requires change. This includes allowing patients to access medical cannabis through traditional pharmacy channels and ending the taxation on medication. But more than that, the current system of a bifurcated approach putting people into either recreational and medical camps ignores facts on the ground: many people are accessing cannabis for health reasons – but are forced to utilize the recreational channel. On this front, many leaders spoke of the positive – yet slow – steps toward Cannabis Health Products being considered. Which leads us to #3:
A Re-Look at Regulations
As Federal regulators take another look at the Cannabis Act, so too are Provinces and municipalities looking at what their respective roles are in the future of the sector. This is welcome news from throughout the sector – from patients and medical practitioners to retailers looking at their signage to beverage companies looking at equivalency regulations. Over the next year, it will be essential for cannabis professionals and cannabis companies to advocate on their own behalf. As we well know, regulators must hear from stakeholders about how their regulations are, or are not, viable on the ground. But change is coming – and positive change is welcome.
As always, stay connected to Business of Cannabis for the latest updates from the Canadian cannabis sector. Thank you for those that joined us on the 18th and we look forward to seeing you at the next Business of Cannabis online event on September 22nd.
About Torkin Manes LLP
Torkin Manes has a team of multidisciplinary lawyers with knowledge and expertise in corporate finance, M&A, information technology, corporate governance, tax, corporate structuring, property leasing and real estate, employment & labour, fintech, litigation and regulatory matters. Our combined experience enables us to provide the necessary legal advice on a timely basis to ensure that our clients are well serviced and in a position to maximize their opportunities, especially in this ever changing cannabis landscape. Torkin Manes is the Official Law Firm of Business of Cannabis.
A full recap of the event conversations and presentations are available online:
- Understanding the impact of the election on Canadian cannabis
- The cannabis industry’s voice in Ottawa right now
- How the entrance of Canada’s leading pharmacy has impacted medical cannabis
- Is Hybrid Pharm’s model the future of medical cannabis in Canada?
- Understanding the future of patient access to medical cannabis
- Canadian cannabis consumers right now
- How to view the current and future state of cannabis retail across Canada
- Understanding M&A in cannabis retail right now
- How to prepare your cannabis retail store for M&A
- Understanding the cannabis technology landscape in Canada
- How to think about Canada’s cannabis supply chain
- Plus, the full complement of “What’s Next? for Canadian Cannabis” presentations from:
- Darren Karasiuk, CEO, Nova Cannabis
- Fern Glowinsky, CEO, Merrco Payments
- David Kerr, Senior Vice President, Gallagher in Canada
- Albert Kim, CEO, Greenline POS
- Alison McMahon, CEO, Cannabis At Work
- Tanner Stewart, CEO, Stewart Farms
- Hardeep Stoker, Chief Product Officer, Elevated Signals
- Lisa Campbell, CEO, Mercari Agency
- Jenn Larry, CCO, MTL Cannabis
- Ryan Lalonde, CEO, Buddi
- George Scorsis, CEO, Entourage Health
- Shahbaaz Kara-Virani, Canada Lead, Dutchie
- Lucas McCann, Chief Scientific Officer, CannDelta
- Lisa Bigioni, CEO, Stok’d Cannabis