Major shifts expected across the cannabis industry in coming years

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SHIFTING GEAR

Major shifts expected across the cannabis industry in coming years

The cannabis industry is approaching three major shifts that could create new opportunities for investors – not to mention a few new risks, writes The Motley Fool. 

The publication explores how cannabis companies are likely to change over the next couple of years, starting with cannabis legalization – including across Europe – which it cites as the biggest coming change. 

The second change is the end of the oversupply of product in Canada – which has seen the average selling price per gram of legal cannabis faces downward pressure. When this falls into equilibrium, The Motley Fool highlights there will be an opportunity to buy shares of the players that are the best positioned for consistent growth. 

Lastly, the conditions that made for a glut in Canada are already appearing in the U.S. recreational market, and, until this happened, “investors are likely to be blindsided by the symptoms of oversupply, which will be the same as they were in the Canadian market.”


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STATE BALLOTS

Advocates in Idaho start campaign to get medical cannabis on 2024 ballot

Marijuana Moment reports that the Kind Idaho campaign has begun collecting signatures for a medical cannabis legalization initiative that they hope to place on the state’s 2024 ballot. 

The campaign – which aims to allow for patients with qualifying conditions to purchase cannabis at state-licensed dispensaries, and those unable to access or afford dispensaries to grow up to six plants at home – must turn in valid signatures from at least 7% of registered voters in the state by April 14, 2024. 

Jackee Winters, chair of Kind Idaho, made a statement to say: ““We want it…on the ballot in

2024, where we can all vote in Idaho to have a voice. We don’t want to lose our voice and we don’t want to be the last ones to get medical marijuana, either.”


CANADIAN REVIEW

Expert panel announced for review of Cannabis Act

Yahoo reports that Jean-Yves Duclos, Minister of Health, and the Honourable Carolyn Bennett, Minister of Mental Health and Addictions and Associate Minister of Health, announced the members of the Expert Panel on the legislative review of the Cannabis Act. 

The Panel will provide advice on progress made towards achieving the Act’s objectives and help identify potential areas for improving the functioning of the legislation. 

“The Cannabis Act has been instrumental in our efforts to protect youth from accessing cannabis, displacing the illegal market, and providing adult consumers with access to a safe supply of cannabis, but there’s more work to do,” stated Carolyn Bennett, Minister of Mental Health and Addictions and Associate Minister of Health. 

“We congratulate the new members of the Expert Panel, and look forward to their work assessing our progress in meeting the goals of the Act and guiding our next steps.”


EU STOCKS

Akanda pulls out of Lesotho amid ongoing legal battle, Bruce Linton joins Synbiotic, & Ananda completes acquisition

BusinessCann has provided a roundup of some of the latest developments in the cannabis industry. 

The publication highlights that Akanda has announced that it will abandon its operations in Lesotho following a legal battle with a disgruntled former director, and that Ananda – the UK cannabis cultivator- has announced it was now in a position to complete its acquisition of the 50% of DJT Group it does not currently own, a deal which has been on hold for months. 

Finally, BusinessCann reports that German cannabis operator SynBiotic has revealed that Canopy Growth’s Founder and former Chairman and CEO Bruce Linton has joined its team.

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