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The ‘Bis weekly news update – November 3 to 9, 2018


What a week it has been Canada. We hope you’ve found it a little more soothing than the last, because, while it hasn’t been a perfect seven days, things are certainly looking up from last week.

We’ll start with the good news: More states down south have gone legal, cannabis stocks are up, and while Coke-a-Cola may not be looking to develop a cannabis beverage anymore, one Canadian brewery is stepping up.

It hasn’t been all sunshine and bong hits, however, as Canada Post suffered a data break that leaked thousands of Ontario Cannabis Store customers personal data, and another province is feeling the weed shortage that seems to be impacting the entire country.

For good or for ill, The ‘Bis is here with our weekly news roundup for November 3 to 9, 2018.

Thousands of Ontario Cannabis Store customers information hacked

The OCS revealed on Thursday that there had been a breach of its customers’ personal data. According to the public cannabis distributor, 4,200 people who purchased off their site (roughly 2% of total orders) were the victims of a data breach at Canada Post.

The OCS announced the hack in an official statement posted to their twitter account.

“The Ontario Cannabis Store (OCS) takes privacy and security very seriously. Protecting customer information has been the number one priority throughout the development of OCS.ca,” the company’s president, Patrick Ford wrote in the release. “Limited delivery information of approximately 2% of OCS customer orders (4,500) was accessed by an individual through the Canada Post delivery tracking tool.”

Those who were impacted by the breach were notified directly by Canada Post.

Steam Whistle is eying the potential of pot

Toronto-based beer producer Steam Whistle has revealed they are looking for a cannabis company to partner with in order to create their own cannabis-infused beverage.

Andy Burgess, president of the craft brewery, told BNN Bloomberg news this week that he is in “active discussions” with several cannabis producers for the project.

“This is about reinforcing the brand and how to build shareholder value for the long term,” he said in an interview. “The bottom line is that our brand and the building, our distribution, and the popularity of our beer is of interest to the cannabis space.”

He has not revealed who he has been speaking with, or what type of agreement the company is looking to make. As one of the largest independent brewers in the country, they are in a unique position to take a share of the market if and when other types of cannabis consumables become available.

New Brunswick is running out of weed

More than half of New Brunswick’s legal cannabis stores are expected to stay closed Wednesday due to a province-wide pot shortage. While customers are being turned away, one supplier has told CTV this is due to companies not meeting their production goals.

“There’s very few large producers and especially smaller producers that have been able to deliver on their commitments to this point,” Ray Gracewood of Organigram told CTV. “We think it’s going to take some time for most of the other producers to get to that point.”

Gracewood also added that his firm “over-delivered” on its commitment to New Brunswick.

The ‘Bis is unable to find reports of suppliers failing to meet their commitments but we’ll follow this story as it develops.

Canadian Cannabis stocks on the upswing after US political shakeups

If you’re like us, the US mid-term elections weren’t just interesting for what they did to the power balance in America, but also because several states had state-level cannabis legalization on their ballots.

Michigan residents voted yes for recreational use, while both Utah and Missouri’s voters will allow medical pot. This, combined with the exit of the staunchly anti-cannabis US Attorney General, Jeff Sessions (you may remember him from such political scandals as the Russian election interference investigation), led to a quick and decisive upswing in cannabis stocks.

According to CBC, in the wake of the voting results shares in Canopy Growth, Aurora Cannabis and Aphria rose by 8%, 9% and 4%, respectively. Tilray, a BC company that trades on the NASDAQ in New York, closed at 28% higher.

These number would climb even higher with the announcement of Sessions’ departure from his role as Attorney General.

The state of Michigan goes legal, but don’t travel there with Canadian pot

In what seems like an increasingly common statement by officials on both side of the border, Windsor police are advising their residents not (we repeat: NOT) to attempt to cross the Canada-US boundry with cannabis. Even to states that have legalized recreational use.

More so they say it is still illegal to transport cannabis out of states like Michigan, where pot is legal, into the great white north as well.

As reported in the Windsor Star this week, immigration lawyer Len Saunders, had a few choice words to say to those who think they can grab potentially cheaper weed stateside and cross back over:

“You cannot bring cannabis from the US into Canada. Period.”

Canadian customs officials will seize marijuana from citizens trying to take it across the border. Travellers could also face other penalties, including losing the speedy border access of a Nexus pass.

“Anything drug-related is a lifetime bar for Nexus,” Saunders said.

 

 



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