The writ has dropped and the campaign for next month's federal election is on. The cannabis industry of course wants to know: what does this mean for us? Former Canopy Growth CEO Bruce Linton responded: Don't expect much.
CBC Politics, Yahoo Finance
Cannabis insiders took to Twitter with the issues they hope to see represented on the campaign trail. Among them:
The Canadian industry has watched carefully as concentrate-vaping-related illnesses in 36 US States (and one territory) have rapidly increased since July, leaving six dead. The illnesses are not biological, but related to chemical exposure.
Many suspect the culprit is vitamin E oil (tocopheryl-acetate), used to dilute extracts in counterfeit vape products. New York State is focusing its investigations on vitamin E oil and two other states have identified it in vape products. When heated and inhaled, vitamin E leaves drops of oil in the lungs that cause pneumonia.
Leafly, CTV News
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Of the 12 REC retail lottery winners the Alcohol and Gaming Commission of Ontario disqualified last week, 11 jointly filed judicial review applications.
The judge suspended the AGCO's review process of all licence applications for two weeks ahead of his ruling in the matter.
The Ontario Cannabis Retail Corporation (which operates the Ontario Cannabis Store) posted a $42M loss for the last fiscal year.
An Assembly of First Nations working group tasked with developing a separate cannabis regulatory regime for First Nations had its first meeting during the AFN's Cannabis Summit last week.
Globe and Mail
Earlier this year, Aurora predicted it would be profitable by EBITDA standards within the year. Last month, the company adjusted their statement to say they were "on track" to profitability. This week, posting a $11.7M EBIDTA loss, Aurora said, "The Company expects adjusted EBITDA to continue to improve."
CEO Terry Booth said the company is "laser focused" on the US CBD market.
MJ Biz Daily
My home province, the most anti-cannabis in the country, has come a long way. A CROP poll commissioned by the Canadian Union of Public Employees found public opinion of cannabis in Quebec has taken a surprising uptick since legalization.
Leafly, CUPE—In French
Though 65% of respondents supported the government plan to raise the legal age from 18 to 21, an even greater number (68%) believed the law would have no impact on cannabis consumption by those between 18 and 21.
Federal and provincial regulations make it nearly impossible for a business to provide cannabis to customers without a license from Health Canada. As a result, hopes for Canadian cannabis tourism have largely been dashed, leaving only a handful of B&Bs that give free joints to guests.
Between October 2018 and June of this year, MED sales declined by 25%. Though licensed MED client registrations had been steady for years, since October they've largely stalled.
MJ Biz Daily
When the government of Saskatchewan selected 51 REC retail license-lottery winners last year, it gave them a caveat: they had to complete their license application within a year. With just over a month to go, 16 stores have yet to open.
Though Health Canada finalized its new regulations on advertising cannabis products in June, it didn't clarify them. That's leaving a lot of people with questions.
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