BIG EAST
Will eastern states in the US follow NJ’s lead?
Karen O’Keefe, the state policies director of the Marijuana Policy Project, and other experts predict several states could soon pass their own medical or adult-use legislation, following in the footsteps of New Jersey, reports The Dales Report.
States to watch
- South Carolina (medical)
- Rhode Island (adult-use)
- Kansas (adult-use)
- Delaware (adult-use)
- North Carolina (medical)
- Longer-term: Pennsylvania, New Hampshire, Minnesota
More updates: Mississippi’s new medical program will launch late this year; Maryland is in the early stages of creating adult-use legislation; Ohio could put adult-use cannabis on the ballot in November.
Enjoy Cannabis Daily each morning at 7 a.m.
OMG OGI
How Moncton’s Organigram doubled revenue and grew market share
Moncton, New Brunswick-based Organigram CEO Beena Goldenberg joined BNN Bloomberg to explain how the company has grown market share and more than doubled revenue in its latest quarterly report.
The highlights
- Shred, the company’s value brand, is the top-selling flower in the country
- Edibles market share doubled
- The company’s market share in the concentrates, particularly hash, has also increased
- Organigram is also still focused on cost-cutting and efficiencies
- The chocolate market isn’t as large as Organigram originally thought, and it has pivoted to gummies
Organigram reported a net loss for the quarter ending on Feb. 28 was $4 million, compared to $66.4 million for the same period one year ago. Revenues were up from $19.3 million to $43.9 million year over year, and net revenue was up to $31.8 million from 14.6 million.
Way back in March 2019, Business of Cannabis streamed a BofC Live from Organigram’s Moncton facility. For a walk down memory lane, check it out.
NO CALIFORNIA LOVE
Los Angeles cannabis fest may have to refund tickets
The City of L.A has denied a permit for the first-ever Green Street Cannabis Festival, which is scheduled to happen May 13 and 14, reports Page Six.
In January, a press release said the festival would “feature the city’s top restaurants, the state’s leading cannabis brands, and the world’s top entertainers all brought together to celebrate the cannabis community.”
“They may have to refund tickets,” said an unnamed source. “It’s a big s–t show.”
SAFE AS CAN BE
The latest on the world’s largest THC toxicological study
BusinessCann’s recent Q&A with the European Industrial Hemp Association’s managing director Lorenza Romanese tackles topics like the UK FSA’s Novel Foods Public List and the group’s forthcoming toxicological studies.
The studies
- are based on a lack of research conducted on the types of products planned for the UK and European markets
- Include the biggest clinical trials for THC in the world to define a No Observed Adverse Effect Level and a Lowest Observed Adverse Effect Level
- are related to identifying the Tolerable Daily Intake of isolate CBD and full spectrum extracts
“All the studies both for isolate and full spectrum CBD are concluded,” said Romanese. “And so far, I can simply say that there is nothing to worry about. There were no values beyond or even near to the limit. So this product, according to the level that we have tested, can be considered safe.”
