Vancouver, Delta, Kelowna, BC – December 16, 2022 (Investorideas.com Newswire) www.Investorideas.com, a global news source covering leading sectors including marijuana and hemp stocks and its potcast site release today’s podcast edition of cannabis news and stocks to watch plus insight from thought leaders and experts.
Listen to the podcast:
Investor Ideas Potcasts #641, Cannabis News and Stocks on the Move – (CSE: CURA) (OTCQX: CURLF), (Nasdaq: HITI) (TSXV: HITI)
Today’s podcast overview/transcript:
In today’s podcast we look at a few public company announcements, changes to Canadian Cannabis Act as well some recent cannabis related news.
Last week, Health Canada announced that amendments to the Cannabis Act and its regulations concerning cannabis research and testing, and cannabis beverages have been approved and are now in force as of December 2, 2022. A copy of the final regulations, as well as the Regulatory Impact and Analysis Statement is expected to be published in the Canada Gazette, Part II, on December 21, 2022.
These amendments follow extensive engagement with stakeholders, universities, researchers, health authorities, cannabis industry associations, cannabis licence holders, provinces, territories and the public. They aim to facilitate research and testing, and also amend the public possession limit for cannabis beverages to bring them in line with other cannabis products.
Notably, these amendments:
Increase the public possession limit for cannabis beverages to a level that is similar to other forms of cannabis, such as solid edible cannabis products (i.e. gummies or chocolate). Adults in Canada are now able to possess up to 17.1 litres (equal to 48 cans of 355 ml each) of cannabis beverages in public for non-medical purposes, which is up from approximately 2.1 litres (equal to five cans of 355 ml each) under the previous rules. Existing controls that mitigate the risks of overconsumption and accidental consumption, such as child-resistant packaging and strict limits on the amount of THC per container, remain in place;
Change how Health Canada regulates non-therapeutic cannabis research with human participants, helping make the process of conducting this research easier, while still maintaining appropriate public health and safety controls;
Allow analytical testing licence holders and federal and provincial government laboratories to produce, distribute and sell reference standards and test kits, to increase access to cannabis testing materials and thereby support access to a quality-controlled supply of cannabis; and
Broaden the educational qualifications for the Head of Laboratory, a position that is required for an analytical testing licence and is responsible for all cannabis testing activities that occur at the licensed site.
Transition periods are provided to reduce potential impacts on existing research licence holders conducting research with human participants, and on processing licence holders who produce cannabis beverages. The Cannabis Act serves as a flexible legislative framework that adapts and responds to the needs of Canadians.
Health Canada will continue to engage with stakeholders and pursue initiatives to address ongoing and emerging public health and safety issues to improve the cannabis framework so that it meets the needs of Canadians while continuing to displace the illicit market.
The Cannabis Act (the Act) came into force on October 17, 2018. With the Act, the Government of Canada legalized and strictly regulated the production, distribution, sale, import and export, and possession of cannabis.
The Minister of Health and the Minister of Mental Health and Addictions launched the legislative review of the Cannabis Act on September 22, 2022. The review is being conducted by a five-member independent, expert panel, who will report their final conclusions and advice to the Ministers by Spring 2024.
Health Canada’s Forward Regulatory Plan provides information on regulatory initiatives that Health Canada aims to propose or finalise in the next two years, including those pertaining to the cannabis framework.
Associated Links for More Information:
Backgrounder: Amendments on cannabis research and testing, and cannabis beverages
Canada Gazette Part I – Notice of intent
Canada Gazette Part I
Cannabis in Canada
Cannabis Exemption (Food and Drugs Act) Regulations
Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF), a leading international provider of consumer cannabis products, announced that its third “The Farmer’s Select” product collaboration is now available across California in partnership with Autumn Brands, a woman-and-family-owned farm nestled on the coast of Santa Barbara County.
Autumn Brands cannabis is grown using sustainable farming techniques, natural sunlight and 100% no-spray cultivation. Utilising a closed-loop watering system, Autumn Brands ensures that no water is wasted during the growing process and all organic waste is composted. This focus on quality, consistency and sustainability ensures nothing but the best cannabis reaches consumers.
Select’s latest collaboration transforms Autumn Brands’ top-quality, limited-batch cannabis flower into the same Select Elite Live Oil that customers know and love. The limited-edition product line is now available at dispensaries across California in three strains including Jetlato (sativa), Pineapple MAC (hybrid) and Banana Jelly (indica).
“We are proud to align ourselves with a conscientious, high-quality cultivator like Autumn Brands that prioritises not just the consumer and the community but also the environment,” said Matt Darin, CEO of Curaleaf. “With each Farmer’s Select partnership, we aim to highlight the skills of innovative growers, talented extractors and craft operators that are vital to the success of the California cannabis industry. This program is another example of how operators both large and small can work together to creative a quality product and an inclusive, diverse industry.”
“California has fostered a rich cannabis marketplace, and we believe that industry leaders should recognize the people, brands and businesses that make it all happen. We are thrilled to be a part of The Farmer’s Select Program and support Curaleaf’s efforts to uplift smaller, licensed operators across the state,” said Autumn Shelton, CFO and Co-Founder of Autumn Brands.
Formally launched in July 2022, The Farmer’s Select program is an ongoing series of limited-edition collaborations with craft farmers and diverse operators in California. The program reflects Curaleaf’s commitment to providing premium products to consumers while uplifting smaller operators across the Golden State. Select previously partnered with Sonoma Hills Farm in April 2022 and Delighted Farms in July 2022 – both limited-edition product lines sold out in less than two weeks.
The Select Elite Live Autumn Brands collaboration is now available at dispensaries across California while supplies last. For more information on product availability, visit www.selectbetter.com/find-us or visit one of the participating retailers below.
Merrco Payments Inc., a leader in cannabis payments, and Gratify Payments Inc., the BNPL platform for payment companies, announced the launch of buy now pay later for Ontario cannabis retailers – a Canadian first. Gratify is a buy now pay later platform that offers a new way for retailers to meet consumer demand through payment plans. BNPL from Gratify helps cannabis retailers sell accessories and other high-ticket items, and helps consumers use the payment method that best suits them.
“Buy now pay later has been an exciting addition to how Canadians want to pay,” said Fern Glowinsky, Merrco President and CEO. “Today, we’re pioneering cannabis payments yet again and supporting cannabis retailers with new payment options just in time for the holiday season.”
Features and benefits of Buy Now Pay Later from Gratify include:
Help cannabis retailers offer more payment options to their customers
Match the same range of payment experiences available in retail
Keep up with consumer demand for payment method choice at the check out
“The cannabis retail industry is maturing, and consumers expect the same payment
experience they get elsewhere,” says Ryan Brough, CEO of Gratify. “We’re proud to help cannabis retailers in Ontario be first in Canada to accept buy now pay later.”
Gratify BNPL will be available starting Dec. 12, 2022, for cannabis retailers served by Merrco in Ontario. For more information, visit www.merrco.com/bnpl.
High Tide Inc. (Nasdaq: HITI) (TSXV: HITI), a leading retail-focused cannabis company with bricks-and-mortar as well as global e-commerce assets, announced that it has begun selling cannabis seeds in the United States, initially through its wholly owned subsidiaries Grasscity and Smoke Cartel, which are the two most popular e-commerce platforms for consumption accessories in the world.2 The Company plans to expand seed sales to additional online retail platforms within its portfolio in 2023.3 This launch comes on the heels of the American Drug Enforcement Agency’s recent official determination that cannabis seeds fall under the legal definition of hemp and can therefore be sold openly in the United States.
“With our entry into this new and exciting complementary vertical, we continue to extend and strengthen our integrated value chain, providing our customers with a complete cannabis experience, in addition to the opportunity to further enhance our consolidated gross margin profile. This new business venture will greatly expand our U.S. customer base, which already sits at 2.4 million through our ancillary cannabis business lines, and sets us up well to take advantage of federal legalization in the United States when it comes. This further diversification into the U.S. seeds market also strengthens our Canadian discount club model, as this new vertical is expected to generate significantly higher gross margins than our core brick-and mortar-business, which will help us continue to offer unbeatable prices to our Cabana Club members,” said Raj Grover, President and Chief Executive Officer of High Tide.
“GrassCity and Smoke Cartel, due to their top SEO rankings, organically built over the last twenty-two and eight years, respectively, generate some of the highest online traffic in the consumption accessories space, which is why it makes sense for us to leverage this strength as we launch this new vertical in the United States. Innovation has always been a cornerstone of High Tide’s strategy, and today’s announcement is yet another example of how we will never stop looking for ways to enhance shareholder value while differentiating ourselves from the competition,” added Mr. Grover.
Lastly today, a quick look at two recent news pieces related to the cannabis industry.
I point to both of these to highlight the current rhetoric surrounding high-THC cannabis and the many supposed “unknown risks” involved with it, as well as how both the media and the medical community in general continue to perceive and view cannabis.
Both articles skew heavily towards the “dangers” of cannabis and seem to overplay the influence cannabis has on individuals as well as both demonstrate the use of specific word usage to suggest a greater danger than is factually proven.
When looking at the cannabis industry, one cannot disregard these top trending news pieces as one offs or as obvious scare propaganda as the impact they have on the masses as well as legislators is very real and very damaging to the success of the industry as a whole.
Often these singular cases are used as evidence against the industry when the conversation comes to decriminalisation or rescheduling and I have often discussed the one-sided nature of the cannabis discussion when it comes to research and medical evidence. The lack of credit given to independent researchers, often those who are not federally funded, combined with an overselling of the “dangers” and “risks” of high-THC product from mainstream news organisations can be viewed as the biggest indicators of where the industry currently is and where it is heading in the near future.
Many who have supported this industry since the grass-roots days have voiced their disappointment on the direction the industry has taken in the last few years with Canadian federal legalisation as well as individual state legalisation.
While I think most of us hope to see this industry follow in the footsteps of craft beer and boutique wineries, what we are seeing is a growing push to have this industry completely handed over to mega-pharma corporations. If that does happen most of the safety and natural medical benefits this industry has provided so far may fall into the same category of prescription medications soon enough.
When looking at continuing to invest in cannabis, we should all be considering not only what looks to be the short term and long term winners within the space, but also where we all want the space to go as it evolves. If cannabis becomes just another pharma product will the fight for legalisation and medical access be lost? Will that mean that in the end, government and corporate propaganda couldn’t be beaten?
Investorideas has tried many times to promote the idea of investing not only in your financial future, but also the future of ideas. When considering your next cannabis investment, please consider the future of cannabis as a whole and what the industry is meant to represent, not just as a short or long term money maker, otherwise it makes much more sense to invest in gold, silver and oil.
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