Are you age of majority in your province (19+ or 18+ in Alberta and Quebec)?
As we take some deep breaths this week and celebrate both Canada Day and Independence Day, we can reflect on a very busy week gone by:
Last week on BofC, we Asked the Experts at CannDelta about cannabis retail regulations, dove deep into what retailers need to consider when signing leases, discussed how the Canadian CBD market will grow, what the Canadian cannabis job market looks like and we connected with a contract gummy manufacturer about ramping up. All that, and a Lunch+Learn with ALCANNA’s Chief Information Officer and an Alberta-based Cannabis Forward networking event.
This week, we have big updates from big LPs as well as news from Israel and the US on the cannabis file - and a Banksy-themed cannabis controversy?
On a conference call with investors last week, Canopy announced a more focused approach, including beverages and US markets. This, of course, following on significant recent layoffs. BNN Bloomberg
In other Canopy news, the Canopy takeover of Acreage has been right-sized, namely downward. BNN Bloomberg
The biggest news on the Canadian landscape last week was the ‘right-sizing’ of Aurora. Many, many more layoffs. (BofC’s Jay Rosenthal provided some perspective on this for Global News in Saskatoon.) Business Insider
In even more Big LP news, Aphria and Emblem/Aleafia have settled Emblem/Aleafia’s claim. Newswire
In EVEN more LP news, “value brands” by Canadian LPs are now a very competitive market. MJ Biz Daily
And, remember the story a few weeks back that a Tokyo Smoke opened in Yorkville in Toronto with Banksy’s art on the wall? Yahoo Finance And then a writer for The Growth Op wrote a piece about how it probably wasn’t the time to open a cannabis shop with a Banksy on the wall, and The Growth Op promptly pulled the story (and the Executive Producer of The Growth Op resigned as a result)?
Well, the Banksy paintings are now down… Daily Hive
Canada’s pardons program for past cannabis-related convictions has only garnered 238 applicants. Not good. Huffington Post
Israel continues to move ahead toward legalization - it passed a big hurdle in the Knesset. Jerusalem Post
Those of you that believe that both Trump and Biden are the same on cannabis policy? You should absolutely read this story about US Attorney General Bill Barr and how, out of personal animus, he messes with cannabis business deals. Barrons, Marijuana Moment
Have a great week. Follow Business of Cannabis on Twitter, LinkedIn, Facebook + Instagram to find out all the latest.