We’ve made it through the first week of June and as the grass turns greener, new cannabis news is blooming just like the flowers.
It’s the Lift & Co conference this weekend, pilots got some more info about how much time to wait after using cannabis, and more. It’s The Bis Weekly News Update for June 2 – 8.
New rules from Canada’s aviation regulator, Transport Canada, has placed a firm date on the time between when airline pilots can use cannabis and fly an aircraft.
The new rules took effect on June 3, and bar flight crews, as well as flight controllers, from consuming cannabis for at least 28 days before being on duty.
“This approach is consistent with existing Canadian Aviation Regulations which require fitness for duty, and that no person shall act as a crew member of an aircraft, air traffic controller, or flight service specialist while using or under the influence of any drug that impairs the person’s faculties to the extent that aviation safety is affected,” said a representative from Transport Canada.
According to Canadian Aviation Regulations Section 602.03, no person acting as a crew member of an aircraft is also allowed to fly within 12 hours after consuming an alcoholic beverage, while under the influence of alcohol, or while using any drug that impairs the person’s faculties to the extent it impacts aircraft safety.
The agency also says it underwent an extensive policy review and consultations to determine the best way to ensure aviation safety with “regard to impairment overall, including cannabis.”
The change falls in line with the Canadian Forces policy towards its members flying high. Air Force regulation only allow members to serve as part of a flight crew on a military aircraft, controlling or directing an aerospace platform, or operate of an unmanned aerial system after abstaining from cannabis use for 28 days.
UK-auditing and analysis giant Deloitte released a report on the potential of the upcoming wave of cannabis products hitting the market, when edibles, concentrates, and topical consumer goods are legalized in October.
Deloitte’s report, Nurturing new growth: Canada gets ready for Cannabis 2.0, thinks the potential for new “product mixes” will have the power to reach new customers who aren’t ready to try the current cannabis products.
It notes that these “cannabis-curious” Canadians consumers are typically older — and often female — who will prefer more familiar consumption formats, notably edibles such as baked goods.
“The edibles market alone is estimated to be worth at least $1.6 billion a year in Canada, with cannabis-infused beverages adding a further $529 million,” said Jennifer Lee, a partner and Deloitte Canada’s cannabis national leader, in a press release. “According to our research and stakeholder interviews, much of this economic boost will be on top of current cannabis product spending.”
The report also cautions that the nascent infused food and beverage industry could take some serious shots at Canada’s alcohol producers.
“The introduction of cannabis-infused edibles will clearly threaten the alcohol industry as consumers are using the product for similar usage occasions,” she says.
The report shows that a total of 37% of people currently taking edible cannabis and 37% of likely users would do so as an alternative to alcohol — though current users should be prepared not to see familiar products like gummies, cookies, and the like right away.
The predicted numbers come in lower for cannabis beverages at 24% for current users and 35% for likely users plan to use the drinks to replace alcohol. In spite of this though the report says cannabis-infused beverages are not expected to cut into the sales of other pot products.
The report also thinks that the new market will give the Canadian industry an advantage over their global competition.
“The global cannabis market is enormous, and Canadian firms are well-positioned to play a pivotal role as this market grows and evolves,” said Lee in the release. “Cannabis companies with strong professional leadership and business fundamentals, a focused strategy, and a willingness to place bets—while playing the long game to wait out the changing regulatory environments—will be the ones who succeed and prosper.”
The report says that Canada will have an advantage over its southern counterparts, though new legislation, like the recent US Farm Bill, demonstrate the need to continually innovate and adapt to stay ahead of the growing — and increasingly legal — American cannabis industry.
Overall, Deloitte estimates the global market for alternative cannabis products is expected to nearly double over the next five years, to USD $194 billion. The company’s advice to Canadian businesses in the future is multifaceted but simple: “Remain bold.”
“The global cannabis market is enormous, and Canadian cannabis firms are very well positioned to play a pivotal role as the market grows and evolves,” the report states. “Deloitte believes that companies with strong leadership, strong business fundamentals, a focused strategy—and a willingness to act courageously—will win.”
The Lift & Co. Cannabis Expo is back in the city for its first stop in Toronto since the legalization of adult-use recreational pot. As always, the event will be offering wall to wall opportunities to meet and learn from those working in the new industry.
The event is geared towards everyone from patients to consumers, industry professionals, and investors. It’s set to feature over exhibitors from around the world, informed speakers, as well as representatives from major companies across the country.
There’s also going to be live cooking and growing demos, a TVape lounge, as well as a cannabis career fair, giving you the chance to learn all about this new fast-paced industry.
Vendor and speaker details are available on Lift’s website. But if you’re looking to go for a day or even the whole weekend, there will be plenty to learn and do. This is the biggest cannabis conference to come to downtown and should not be missed.
This year’s panel topics include:
The event organizers say over 250 exhibitors and hundreds of speakers will be hosted at the conference, and last year’s Toronto event drew in more than 20,000 visitors alone.
Curious about the rules around cannabis promotions?
The rules around how licensed producers are able to promote themselves and their product can be tricky to navigate. The Cannabis Act lays out some specifics but there have been more than a few clarifications Health Canada has had to make sure company promotions are remaining compliant with the act.
To make things a little easier an easy to follow infographic was created through a partnership between the law firm Dale & Lessmann LLP and YCreative. While the creators stress their work should not be taken as gospel, it’s a simple reference for those interested in learning how to promote any cannabis product or brand right now.
Just click the image below to enlarge!