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Toronto took centre stage this week as the City aimed to crack down on unregulated cannabis retail operations - specifically, the four CAFE shops. This garnered some significant attention in Canada - and elsewhere - as code enforcement placed cement barriers at the entrances. The BBC picked it up - and included an image from BofC’s Jay Rosenthal. As did LADbible. (And many, many, many others.) Perhaps the most interesting coverage was from CBC who tried to unearth the hard-to-pin-down (Lamborgini-driving) owner.
CannTrust’s challenges were also top of mind this week: News leaked out from BNN Bloomberg that there were 2 potential buyers for the embattled company. No follow ups, but the story piqued interest and speculation about the future for CannTrust. And, a local Niagara paper has a deep dive into the CannTrust whistle-blower. And, investor class action lawsuits are building against CannTrust.
The CannTrust story also led to some company-on-company internet trolling…
In an unrelated, but not unimportant and potentially telling, Agrima Botanicals had their license revoked this week by Health Canada.
MediPharm Labs is graduating from the TSX Venture to the TSX. $LABS
HEXO co-founder and Chief Brand Officer Adam Miron announced this week that he was stepping back from the day-to-day - but staying on as a Board member. $HEXO
From the US, Curaleaf announced their purchase of Grassroots this week - creating a US-based juggernaut. There was a Canadian twist to the story…
And while the US deal-making is front and centre, Yahoo! FInance had this: 7 Reasons Marijuana Has Virtually No Chance of Being Legalized in the U.S. Before 2021
It was a busy week at Business of Cannabis with in-depth discussions with Malay Panchal of Pure Global Cannabis, Corey Herscu of RNMKR Agency, Jeremy Potvin, Weedbox and Canada’s newest micro-cultivator, Joel Lacelle of Hearst Organic Cannabis Products.
Stay tuned this week for major Business of Cannabis announcements. Watch your inbox.