We’ve made it through another week, which means The ‘Bis has another round of news for you. Almost all of it is good, so carry that with you into the long weekend.
Here are the top 5 cannabis news stories from the week!
To fight the black market sale of cannabis, the Yukon government has announced that it will be selling legal pot at a mere $8 per gram.
John Streicker, the minister in charge of the Yukon Liquor Corp., says in a news release that the government has secured its only retail location and entered into a second supply agreement.
Streicker says those actions will ensure Yukon residents have access to cannabis when it becomes legal.
When Canada’s finance ministers met last December, they had set the cost of cannabis at close $10 per gram (the current street price) and the feds agreed to give the provinces and territories 75% of the tax revenue.
Yukon will be using both a public and private retail model to sell their greens.
Medical cannabis exports in oil form rose 300% from 2016 levels, according to data from Health Canada. This trend is expected to continue as countries legalizing medical cannabis look to imports to meet demand.
Many countries are choosing to source from the outside as opposed to growing their own. Germany took in 169 kilograms of medical marijuana oil from Canada in 2017. That was followed closely by Australia (145 kilograms), Croatia (37 kilograms) and the Cayman Islands (23 kilograms).
Canadian medical marijuana is already accessible by most of Germany’s 20,200 pharmacies from suppliers like Aurora, Tilray, Cronos, Maricann, ABcann, CanniMed (now owned by Aurora), Nuuvera (now called Aphria international) and MedReleaf.
The much-reported plan to convert some of coffee giant Second Cup’s retail locations into cannabis dispensaries took another step towards completion this week.
The company, along with its partner, National Access Cannabis (NAC) released renderings of what their new outlets would look like, along with a new website.
Given the name “Meta,” the proposed storefronts look both sleek and professional.
“Meta is dedicated to providing safe and responsible access to the legal recreational, adult-use cannabis market and has submitted applications for licences in metropolitan areas, rural areas in addition to aligning with First Nations for locations on Indigenous land,” said the company in a release.
The storefronts also plan to focus on education, as they want consumers to make informed choices.
Aurora Cannabis Inc. announced that they have entered into an agreement where they will acquire all of the issued and outstanding common shares of MedReleaf at approximately $3.2 billion.
The agreement will raise Aurora’s production capacity to over 570,000 kg per year of high-quality cannabis.
“This is a transformational transaction that brings together two pioneering cannabis companies, both committed to high technology, high quality and low-cost production, to create a powerful platform for accelerated growth and success on a global scale,” said Terry Booth, CEO of Aurora.
The company now controls nine facilities in Canada – including a 27 football field-sized facility in Alberta – and two in Denmark.
Cannabis producer Organigram has announced the creation of Trailer Park Buds, a cannabis brand that is brought to us, in part, by Canada’s east-coast, television misfits, the Trailer Park Boys.
According to a press release, the brand aims to attract the “value-conscious consumer” who also “appreciate a sense of humour and don’t take themselves too seriously.”
TPB will focus on pre-rolled and blended products and will be available at federally-licensed retail establishments across Canada in 2018.
No word yet on how they will navigate the strict packaging and advertising laws that are coming with the Cannabis Act.