As the US vaping crisis continues, the Canadian cannabis sector worries the health scare will stifle the regulated vape-pen industry before it can even become legal.
Many struggling companies hoped legal extracts and the anticipated vape-pen boom would turn their fortunes around, as the Cannalysts' Craig Wiggins told Bloomberg. (That's why companies have been stockpiling low-grade flower.)
Social media posts warned a batch of shatter made by illicit Canadian extracts-seller Phyto is contaminated with something (possibly pine resin, or silica) that leaves white grease on dabbers' lips. Others warned of the same issues with Green Goblin–brand illicit shatter.
Twitter—Val Thornton, Dan Goulet, Bohn681
In a letter to the New England Journal of Medicine, 15 US physicians who biopsied the lungs of VAPI patients repudiated suggestions that oil accumulation in the lungs (such as many suspected was the product of vitamin E oil) is a cause. "Instead," one author noted, "it seems to be some kind of direct chemical injury, similar to what one might see with exposures to toxic chemical fumes, poisonous gases and toxic agents."
NEJM, CTV News
Though cannabis has largely gone unmentioned during this election campaign, Conservative leader Andrew Scheer chided prime minister Justin Trudeau over legalization during the French language debate. Though Scheer has been quiet on the subject of cannabis, Quebec—the primary audience for the French debate—is markedly less canna-friendly than the rest of the country, and Scheer's hoping to expand Conservative seats in the province.
Business in Vancouver, Leafly
In July 2019, the Canadian cannabis sector's GDP was $8.26B (in 2012 dollars). The licensed industry's GDP was $3.85B, while the unlicensed industry's GDP was $4.16B. The legal cannabis industry has grown 185% since legalization, and the illicit sector has contracted by 21% since that time. Twitter—David George Cosh, CTV Election
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In two weeks, cannabis ingestibles, extracts, and topicals will be legalized, and the first products will hit the market 60 days from October 17.
Aurora government relations manager Kym Purchase noted, "The number of seniors using cannabis has increased ten-fold." Judging from conversations with my older family members loath to smoke anything, many more seniors may be waiting to try 2.0 products.
Twitter—Ontario Chamber of Commerce
The Canadian Health Food Association pushed back against Health Canada's plan to classify CBD products as Cannabis Health Products, saying consumers shouldn't have to buy CBD only from REC retailers. Hemp producers argue regulations are unreasonable and constraining.
Hemp Industry Daily, MJ Biz Daily, Grizzle, GrowthOp
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An Ontario appellate judge dismissed the motion for an interim stay of the REC retail lottery by 11 disqualified lottery winners, saying it would likely harm the public interest. That means the process of licensing and opening Ontario's next 42 stores will continue.
Last week's news the Ford government is considering allowing LPs to sell directly to retailers has insiders excited even as stocks fell on the news of impending procedural shakeup.
Wes Weber, co-owner of illicit Toronto dispensary chain CAFE and former ace counterfeiter, may get 16 months in prison after he pled guilty to violating an Ontario Securities Commission order banning him from trading securities for 15 years.
Canopy pushed further into the US CBD market with its acquisition of US energy-drink maker BioSteel Sports Nutrition. The company bought 72% of BioSteel for an undisclosed amount in an all-cash transaction and will produce a line of CBD-infused sports drinks like BioSteel's pink beverages enjoyed in the dugout by most of my favourite baseball players.
Globe and Mail, Bloomberg
First Nations leaders argued that no matter who wins the coming election, that government will need to give First Nations jurisdiction over cannabis law within their territories.
Queen's University vice-dean (clinical) and cardiologist Dr. Chris Simpson told the Canadian Stroke Congress THC may encourage development of blood clots connected to stroke, heart disease, and heart failure. A press release from the Heart and Stroke Foundation announcing Dr. Simpson's statement also worried about cyclical vomiting, and the potential for edibles to be overconsumed by those who don't wait long enough to find out if they're working.
Women's MED advocacy group SheCann noted complaints from their membership that THC content of established cultivars has been decreasing batch over batch.
Vancouver MED LP Invictus reported a $4.6M writedown on the entire value of Simmons's company Gene-Etics Strains, which Simmons sold to Invictus in 2019 for USD$2.5M in cash and 6.5M Invictus shares.
Globe and Mail
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