It has been an eventful week in both the legal and business world of cannabis. Over the past seven days, the country’s largest legal weed company has added another company to its portfolio, BC has released an extensive list of the companies that will be supplying the province with weed and more.
This is The ‘Bis weekly news update for July 7 to July 12, 2018.
Hiku Brands, the corporation that owns Toronto-based Toyko Smoke, has been bought by the country’s largest cannabis company.
Canopy Growth and Hiku Brands announced this week that Canopy is purchasing 100% of all common shares of the company. Each shareholder of Hiku will, in turn, receive 0.046 of Canopy shares per one they own for Hiku.
“Hiku equals brands. Canopy is built on brands. So we combined them,” said Bruce Linton, Chairman & CEO, Canopy Growth, in haiku.
“This transaction represents an incredible step in the Hiku journey that both realizes immediate benefits for our shareholders and at the same time provides an unparalleled opportunity to join forces with a preeminent global cannabis player,”said Alan Gertner, Chief Executive Officer of Hiku, and Talking the ‘Bis guest. “Ultimately, together we will continue to build one of the world’s most engaging and successful cannabis retail and brand business. Canopy is a truly special cannabis company that is well positioned to lead both in Canada and around the world.”
British Columbia’s sole legal wholesaler of non-medical cannabis, has entered into agreements with numerous licensed producers to ensure a retail supply for when legalization comes in October.
The Liquor Distribution Branch (LDB) has signed “memorandums of understanding” with 31 licensed producers cannabis to form one of the most extensive and competitive product inventories in the country.
Initial supplies will allow consumers to choose from 150 strains, ranging in quality, from lower to so-called ultra-premium products. The LDB has also secured an array of cannabis accessories for retail sale in BC Cannabis Stores, though the specifics of this have not been released.
“We are thrilled to be reaching this significant milestone in developing a competitive wholesale assortment for non-medical cannabis,” said Blain Lawson, LDB’s general manager and CEO. “The volume, variety and quality of our product assortment speak to the LDB’s commitment to working towards eliminating the illicit market.”
Of the selected LP’s, 12 are BC-based.
The 31 licensed producers that have entered into a Memorandum of Understanding (MOU) with the LDB are:
• Acreage Pharms Ltd.
• Agrima Botanicals Corporation
• Aphria Inc.
• Aurora Cannabis Enterprises Inc.
• Bloomera Inc.
• Broken Coast Cannabis Ltd.
• Canna Farms Ltd.
• CannTrust Inc.
• Canopy Growth Corporation
• Cronos Group Inc.
• DOJA Cannabis Ltd.
• Evergreen Medicinal Supply Inc.
• Experion Biotechnologies Inc.
• Maricann Inc.
• MedReleaf Corp.
• Natural Med Company
• Redecan Pharm
• Seven Oaks Inc.
• Solace Health
• Starseed Medicinal Inc.
• THC BioMed Inc.
• The Flowr Corporation
• The Supreme Cannabis Company/7 Acres
• Tilray Canada Ltd.
• United Greeneries Ltd.
• UP Cannabis Inc.
• WeGrow BC Ltd.
• WeedMD RX Inc.
• Whistler Medical Marijuana Corp.
• Zenabis Ltd.
While the potential health benefits of CBD oil are prompting many to turn to cannabis strains heavy in the compound, Prairie farmers of a slightly different kind are looking to rope in some of the market.
Prairie farmers growing hemp, the male non-psychoactive counterpart to our favourite botanicals will also benefit from the legalization of cannabis.
Updated industrial hemp regulations, released this week alongside Health Canada’s recreational cannabis rules, allow hemp growers to harvest the flowers and leaves from their crop for non-psychoactive compounds such as CBD.
The financial post is reporting that “whole plant” harvest could generate up to $10 billion in economic activity over the next 10 years, the government estimates, as the market for CBD — seen as a potential input for medical products, supplements and beauty products — continues to grow.
The Canadian Association of Chiefs of Police says it is unlikely to reach its goal of having 2,000 officers trained to spot drug-impaired drivers by the time cannabis legalization takes effect.
“While it is unlikely that we will attain our target number of 2,000 Drug Recognition Experts by October 17th, we are confident in our present processes, knowing that they will continually improve with time as we build capacity,” said Wright in a written statement to the Canadian Press.
If there are no improvements made it will take an estimated five years before there are 2,000 trained officers.
The International Drug Evaluation and Classification Program, which includes looking at things such as vital signs, eyes, balance and coordination for signs of impairment, began in Los Angeles in the 1970s. Canadian officers must travel to the United States for the training, as no recognized training facility exists within our country.
The Saskatchewan government has said it will not allow recreational cannabis or vaping lounges to operate in the province, further restricting the number of places people will be allowed to smoke pot when it’s legalized in October
A spokesperson for the province’s Ministry of Justice confirmed the news on Monday, but added, “vaping itself will not be prohibited. However, any form of public consumption of cannabis will be prohibited, including in lounges.”
The news came about a week after the government laid out the fine structure that could be applied to people caught smoking in various public spaces.
Saskatchewan’s omnibus cannabis legislation, Bill 121, which came into late law in May, says it will be illegal to consume cannabis in parks, playgrounds, cinemas, outdoor theatres or any “other place of public resort or amusement.”