FEDERAL RULING
Federal court ruling on Maine cannabis licensing could have other implications
Last Wednesday, a federal court ruled that Maine’s law requiring medical cannabis licensees to be held by residents is unconstitutional.
Now, legal experts claim the ruling could put social equity programs at risk and could open the door for interstate cannabis commerce, per Marijuana Moment.
“I think this is going to be the next shoe to drop,” said Robert Mikos, a professor at Vanderbilt University Law School. “I see no way to distinguish licensing preferences from those bans on imports and exports. I think they’re equally vulnerable.”
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CANADIAN CANNABIS SALES
Adult-use cannabis sales grow to $377.5 million in Canada in June
Canadian adult-use cannabis sales grew 1% from May to June, totalling $377.5 million, per MJBizDaily.
From May to June:
- Ontario sales were up by 3.3% to $152.2 million
- Alberta sales plateaued at $67.2 million
- British Columbia sales declined by 1.7% to $54.1 million.
- Quebec sales declined 1.4% to $49.8 million.
- Saskatchewan was up by 1.5% to $15.6 million
- Manitoba declined by 0.2% to $14.4 million
- Nova Scotia sales were down by 0.1% to $8.7 million
- New Brunswick was up by 5.4% to $6.8 million
- Newfoundland and Labrador grew by 0.5% to $5.1 million
- Prince Edward Island was up 3.7% to $1.8 million
- Yukon increased 2.2% to $878,000
See the data on Statistics Canada.
ONGOING STRIKES
Ongoing strike threatens BC cannabis store inventories
Some cannabis store owners say the ongoing British Columbia Employees’ Union strike will ultimately drive consumers back to the unregulated market, per CBC.
The province’s cannabis distribution centre ceased sending out product to stores last week.
“We sincerely apologize for this disruption and for the impact to your business,” the BCLDB wrote in a note on its website.
Soon, the province will allow stores to deal directly with licensed cannabis producers. But in the meantime, stores are still dependent on the BC Liquor Distribution Branch.
SHARE PRICES
Chill Brands shares jump nearly 50% after US deal
Shares of CBD company Chill Brands bounced back this week, jumping nearly 50% after signing a deal with US brokerage Bellator Group, reports BusinessCann.
According to the agreement, Bellator Group will help Chill Brands “gather more accurate data, and swiftly adapt its sales plans to improve the uptake of Chill products by retail buyers and consumers.”
“Bellator will also market Chill’s CBD range and potential future product extensions to its wider network of retail contacts.” As a result, the company’s share price increased from 2.3 p last week to 3.4 p as of Friday.
