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Sept. 16, 2019 | Two Weeks Out

2 Weeks Out

We are less than 2 weeks away from Cannabis + Technology presented by Business of Cannabis on September 27 in Toronto. Tickets are still available - and if you use the code “Friends” at check out, you will receive 25 percent off your ticket. 

Last week, we featured several Cannabis + Technology partners on BofC Live, including Paul Pedersen from Nextleaf Solutions and Megan Henderson from HelloMD

Cannabis Retail...

To say that the Ontario retail cannabis lottery system has not been well received is an incredible understatement. Consumers, industry or unions - nobody likes it. Several of the disqualified applicants in the recent lottery are now suing to get re-included… and until they do, the entire process is in the courts.

Last week, we were joined in-studio by Drummond Munro, co-founder of Ottawa retailer Superette who had some thoughts on the matter

To add serious insult to injury, there was news that the Ontario Cannabis Store lost $42 million in the last fiscal year. This prompted this week’s Laugh from Organigram’s Cameron Bishop.

If you would like to voice your concern with the Ontario retail cannabis roll-out - Abi Roach of Hotbox has launched a petition for you to sign.

And it isn’t just Ontario retail cannabis that has folks scratching their heads, opposition leaders in New Brunswick are having a field day criticizing Cannabis NB as well. 

Canadian Grown

Which bring us to this:

As we are in the midst of a federal election, no better time to talk about policy issues related to the cannabis sector in Canada. On October 16-17, think tank Canada 2020 will be doing just that. 

Perhaps this issue will come up during the policy discussion in October: Only 44 Canadians have been granted pardons under the new system for cannabis-related charges. 

Financial News

Banking - or lack thereof - has hindered the US cannabis market. So it is a bit of bad news good news on this front this week. California’s banking bill related to cannabis stalled until next year, but it looks like a federal bill may receive a (positive) committee vote before the end of the month. (Legalization of cannabis in the US also figured into the slimmed down Democratic Presidential debate last week. Joe Biden is not on board.)

If banking in hindering the US cannabis industry, a slow leak of bad financial news stories are a challenge. First CannTrust… Now, the Ontario Securities Commission is alleging fraud at the Canadian Cannabis Corp. 

In other financial news, Aurora missed their earnings expectations… prompting an impromptu AMA on Twitter for Cam Battley

Moment of Zen

Finally, your moment of Zen - Mark Wahlberg and Sean “Diddy” Combs are teaming up on a line of CBD products… 

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