An interesting week in cannabis to say the least.
A major coffee retailer in Canada is not only eyeing cannabis stores, but also the beverage category. A previously punished producer got its license back. And, the biggest news shaking up the cannabis sector in Canada isn’t about cannabis at all.
Also, you can watch a full recap (below)of Friday’s Lunch+Learn session with CannDelta: So, you want to open a cannabis retail store.
AND, join us in a few weeks for our next Cannabis Forward education and networking event: Social Equity in Practice, presented by Shopify.
The big news from last week wasn’t really even about cannabis, it was about a psilocybin ruling out of Health Canada allowing 4 terminally ill patients to use psilocybin. CTV News
This is probably a good time to head over to our sister publication, Report on Psychedelics, to download their Reports, sign up for their newsletter and follow on social.
Onto cannabis retail in Canada.
News from Second Cup – in addition to shuttering some cafes, looking at e-comm options and selling coffee in places like grocery stores – they are looking to open more Hemisphere cannabis stores, and this gem from Second Cup’s CEO in the Globe & Mail story: “Our goal, pending future deregulation of CBD, is to make Second Cup the first national coffee chain to sell CBD beverages in our cafés…” Globe & Mail
Your next trip to Banff just got a little more interesting. Canna Cabana is moving in. Newswire
The BC government is opening up online sales/in-store pick up for private retailers. Steps in the right direction on the left coast. BC Gov
Some of the first round cannabis retail lottery winners in Ontario are selling their golden ticket for… well, more gold. CTV News
More financial reports came out last week, Cronos posted a $31.3 million operating loss, but also this, “Cronos had more than $1.1 billion of cash and cash equivalents on hand at the end of the quarter and nearly $214 million in short-term investments…” MJ Business Daily
CannTrust – yes, that CannTrust – got their license back for their Vaughn, Ontario manufacturing facility. Newswire
And what would a week be in cannabis without the usual intersection of cannabis and DC politics?
A provision in the House Coronavirus relief package included pro-cannabis banking regulations that all banks to service cannabis companies. (Send thank you notes to Speaker of the House Pelosi.) The inclusion of the provision caused quite a dust up among the Vice President’s staff… Marijuana Moment