As we head into the last week in January, the industry is: unsettled.
Last week we had a major player (Aphria) landing a $100 million investment from a (secret) institutional investor. At the same time, an extraction company (MediPharm) filed suit against a (secret) deadbeat that owes ~$10 million.
And not to be left out, President Trump is on tape talking about how cannabis can lower your IQ. If that’s not the ultimate pot calling the kettle black…
Read on…
On a very local Toronto level, big news last week. Friendly Stranger bought HOTBOX. Kudos to Abi Roach – who immediately announced that she’s taking a role at the Ontario Cannabis Store.
Speaking of…
The Ontario Cannabis Store (and other legal cannabis outlets in Canada) – StatsCan suggests that legal cannabis is 44 percent more expensive than illicit market cannabis. Which might explain why Cannabis New Brunswick is shutting down. The Provincial retailer is going away and there are 8 groups looking to take over in that province. Do you know who they are? Leafly does…
Aprhia landed a $100 million investment from a secret, institutional investor last week. A strong sign of support for the Leamington, Ontario LP.
Olli Brands announced a private label deal with the folks at Ace Valley. Want to hear more about it, join Business of Cannabis and the good people at Leaf Forward tomorrow night…
MediPharm, the Barrie, Ontario-based extraction company let the world know (after hours on Friday) that some company owes them $9 million and isn’t paying up. Lots of speculation about who the $9 million deadbeat is… Expect market repercussions.
And more tough news, Sundial announced a 10 percent cut of their workforce.
Overhanging a number of large, Canadian-based, NY-traded cannabis companies: the threat of class action lawsuits by investors.
A private meeting secretly recorded of President Trump talking about Ukraine, there is something cannabis related. Someone in the room asks about cannabis banking, and the President drops this piece of “knowledge”… “It does cause an I.Q. problem.” If that is true, we have learned that President Trump is a huge stoner.
With that stellar leadership from the President…
Close to DC, Virginia is considering a legalization framework.
In Washington state, they are considering banning concentrates…
And on the other side of the world: New Zealand is considering medical cannabis legislation, but not for edibles.
To all things Business of Cannabis…
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