Heading into February – there is some hope on the most glaring omission of Canada’s legalization effort (retail outlets in Ontario) and some additional hope of bringing new US states into the cannabis fold (Vermont).
And it wasn’t just the impeachment making news in the US or the Iowa caucuses (today) – this week we learned (the obvious) that more liberal voters in the US are more likely to consume cannabis than more conservative voters. (And not just because cannabis helps ease the Trump pain…)
Finally, stay tuned to Business of Cannabis this week as we will be making some major announcements tomorrow and Thursday. If you haven’t already – sign up for our newsletter to get the announcements first.
UPDATE CANADIAN CANNABIS RETAIL
Creating a real cannabis retail environment in the country’s largest province has been top of mind for Canada’s cannabis industry since legalization in 2018. And last week – it took centre stage again.
Premier Doug Ford suggested that Ontario will soon lead the rest of the nation when it comes to cannabis stores…
One way to get more stores is to allow Licensed Producers to have “farm-gate” stores on their facilities. BUT – news last week broke that in order to open these stores – LPs would have to sell the cannabis to the Ontario Cannabis Store (the Province’s wholesaler) and buy it back to sell in their farm-gate stores…
And then came a dose of reality about: a Tokyo Smoke retail shop in Durham Region was held up at gunpoint over the weekend.
With all this information swirling around Ontario cannabis retail, may we suggest you join us tomorrow at an event hosted by Torkin Manes about all things retail in Ontario…
CANNABIS CAPITAL MARKETS
Sundial recently announced a significant layoff, last week announced the departure of their CEO.
Aphria’s $100 million investment from a secret, institutional investor closed.
Brett Wilson, of Dragons’ Den fame, increased his investment into Indiva.
BMO upgraded Canopy Growth’s stock – setting a new target price of $40.
A few weeks back, we learned that MediPharm lab had filed suit against a Licensed Producer that couldn’t (or wouldn’t) pay their ~$10 million. Last week, we learned that it was HEXO.
Not quite a company in the capital markets, but a micro-cultivator in London, Ontario is going old school – with plans to grow inside a shipping container…
TO THE US
Vermont making cannabis news. A legislative committee there unanimously voted to move a legalization bill forward. The state already has decriminalized cannabis to a large extent, so this is a new step toward creating an industry.
Surprising exactly nobody, a new poll in the US suggests that the more liberal you are on the political spectrum, the more likely you are to use cannabis.
(TOUGH TIMES FOR) CANNABIS MEDIA
We learned a few weeks back that The Globe and Mail was giving up its premium cannabis news offering. Now, we learn that Mark Rendell is changing beats. That, and Jameson Berkow is leaving The Globe and Mail as well. Quite the retreat from the paper of record…
Leafly, the platform you all know and love, let go of 18 percent of its workforce last week.
With that said, the Business of Cannabis is alive, well and functioning. In fact, check back Tuesday and Thursday to hear some exciting announcements from the team here.
In the meantime, check out our latest…
ON A HIGH PODCAST | Hosts Donna Bishop + Michelle Bilodeau
BOFC LIVE PODCAST | Host Jay Rosenthal
PITCH FORWARD | Hosts Alex Blumenstein + Brett Chang
MINNESOTA CANNABIS CONVERSATIONS | Host Jason Tarasek, Minnesota Cannabis Law
BOFC LIVE VIDEO | Host Jay Rosenthal
MEET THE INDUSTRY FROM MJBIZCON 2019
