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Mar. 4 Newsletter | Martha, Snoop + Bruce Edition

Today at 10 a.m. Eastern, Business of Cannabis will launch BofC Live which will stream through our Twitter channel @bofc_canada. Join us.

Criminal Justice

In an effort to further solidify her seemingly endless empire, (former US federal prisoner) Martha Stewart took some cues from her pal, Snoop when she announced this week that she was entering a deal with Bruce Linton and Canopy to develop CBD products. (And she’s also doing it for the pets.)  

And in good news for all of those Canadians with simple possession records, the Canadian Government introduced Bill C-93 this week, allowing those convicted of simple possession to apply for a pardon (and to have fees and wait periods waived).

Retail

In Edmonton, City Council has amended a by law that will allow cannabis shops in malls. Good news for the likes of the West Edmonton Mall where Aurora is setting up shop.

Mercredi is back! SQDC announced that they will be reopening stores on Wednesdays because some supply issues have been resolved.

Not officially ‘retail’, but possibly a darn good idea?  A private golf course in Smith Falls will be Canada’s first (official) cannabis friendly course. Obviously, fore-twenty...

Walmart cracked down on cannabis products being sold through their site, removing a vaporizer by Canopy-owned, Storz & Bickel.   

Medical

Great-West Life announced that they’ll be expanding their coverage of medical cannabis as well as a new agreement with Shoppers Drug Mart Inc.

LP

Good news for supply, Aurora announced that both Sky and MedReleaf Bradford facilities are both fully licensed by Health Canada and will add another 128,000kg/year of capacity. And not to outdo themselves in the Canadian market, they also announced plans to purchase a 51% stake in Portugal’s Gaia Pharma with plans to establish a local facility to produce medical cannabis and derivative products.  

Emerald Health had more news this week, announcing the closing of a new, 56 acre site in Merritt, BC.

Beyond their big news with Martha Stewart this week, Canopy announced that they are considering options to leverage their tangible assets, including bonds issue, mortgage or spinoff into a REIT.

Tetra BioPharma released the results of a recent Ipsos poll that illuminated that Canadians have a high level of trust in doctors when it comes to recommending cannabis, but are less convinced that doctors are well informed enough to treat with cannabis. So, it’s a complicated perspective, and one that will hopefully evolve as more clinical trials come online and into the public sphere.  

International

In preparation for more UN meetings on the declassification of cannabis, The Trump administration is seeking further inputs from the public to help inform the US position.

As the US gears up for a 2020 election, it would seem that this will be the first presidential race in which every (Democratic) candidate (so far) favours some path to legalization. More on Minnesota Senator Amy Klobuchar’s perspective, here.

New Jersey Senator Cory Booker introduced a bill to legalized cannabis nationally, meanwhile in Republican Indiana Gov. Eric Holcomb admitted to smoking cannabis in college, while simultaneously announcing a commitment to remain opposed to legalization.  


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