by Grow Up Conference | Jun 20, 2024 | Media Partners, Stratcann
Aurora Cannabis reported $67.4 million in net revenue for the three months ending March 31, 2024, but a $20.8 million net loss.
The net revenue represented a 5% year-over-year increase, while the net loss represents a $66 million increase in net revenue from the $86.8 million loss for the same three months in 2023.
Aurora’s loss from operations ($2.7 million) also declined significantly in the three months ending March 31, 2024, compared to the previous three months ending December 31, 2023, with a loss from operations of $18 million and $31.1 million in the three months ending March 31, 2023.
Of Aurora’s $67.4 million in net revenue, $45.6 million was from sales of cannabis for medical purposes, while $10.2 was from sales of cannabis for non-medical (“consumer”) purposes. Another $10.4 million in net revenue was from plant propagation (from its non-cannabis “Bevo” operation.)
Net revenue from medical sales was up 20% from the three months ending March 31, 2023, while net revenue from “consumer” cannabis was down 29% compared to the three months ending March 31, 2023. Plant propagation revenue was down 3% from the first three months 2023.
Aurora’s average net selling price of dried cannabis, excluding bulk sales, was $5.37, with 15,179 kg sold in the first three months of 2024. The average selling price increased from $4.74 in the first three months of 2023 when the company sold 16,578 kg of cannabis.
Of the $45.6 million in medical cannabis sales, $26.5 million was from sales in Canada, while $19.2 million was in international sales. Aurora also reported $1.1 million in net revenue for wholesale bulk cannabis. While Canadian medical cannabis sales declined slightly (by $652,000) compared to the first three months of 2023, international sales increased slightly (by $86,000).
Aurora attributes the increase in international sales partly to the current year, consisting of four quarters compared to three quarters in the prior year, as well as “significantly” higher sales to Australia and “improved” sales to Poland and the United Kingdom. Aurora’s main medical markets are Canada, Germany, the UK, Poland, and Australia.
On February 7, 2024, Aurora Cannabis acquired Indica Industries Pty Ltd. (Australia), giving them full control of the Indica operations for a purchase price of $44.7 million.
In March, Aurora became one of the first Canadian cannabis companies to receive European Union Good Manufacturing Practice (“EU GMP”) certification from Australia’s Therapeutic Goods Administration (TGA) for its Canadian production facilities, River and Ridge.
“We are incredibly pleased to be reporting our strongest fiscal year ever at Aurora,” said CEO Miguel Martin. “Total fiscal year 2024 net revenue increased 21% compared to the trailing four quarters, while adjusted EBITDA was positive on an annualized basis for the first time in our history, reaching $12.8 million. We also strengthened our balance sheet, ending with a strong net cash position of approximately $180 million as of March 31st, and fully repaid our convertible debt.”
by Grow Up Conference | Jun 20, 2024 | Cannabis Prospect Magazine, Media Partners
Cronos Group Inc., an innovative global cannabinoid company, announced an expansion of Cronos Growing Company. GrowCo is a leading cannabis cultivation company that Cronos owns 50% of. The investment will be funded by an additional credit facility provided by Cronos and is intended to assist GrowCo’s expansion of its purpose-built cannabis facility to address the increased global market demand for high-quality cannabis flower.
Key Highlights of the Investment:
- Investment in Expansion: Cronos will provide an approximately $51 million ($70 million CAD) secured non-revolving credit facility to GrowCo to fund facility expansion, enabling growth opportunities in the markets Cronos operates in today as well as enabling future growth into new markets that open.
- Enhanced Governance: On July 1, 2024, the GrowCo board of directors will expand to five members, three of whom will be appointed by Cronos.
- New Supply Agreement: Cronos will have the option to purchase up to 70% of the total production from the expanded facility.
- Financial Consolidation: Cronos will be consolidating the joint venture’s results in its financial statements beginning in the third quarter of 2024.
GrowCo has consistently demonstrated exceptional cultivation performance, contributing significantly to Cronos’ portfolio. In 2023 Cronos purchased approximately $21 million of biomass from GrowCo, and GrowCo sold approximately $20 million to third parties. GrowCo has strong gross margins that the Company expects to be accretive on a consolidated basis and delivered positive net income and positive cash flow in 2023. This success underscores GrowCo’s ability to produce premium cannabis at scale, meeting our stringent quality standards and market demands. The expansion will aid our ability to supply markets we operate in, which include Canada, Israel, Germany, the United Kingdom, and Australia, while also fueling the potential for international expansion.
“This investment enables GrowCo to increase its production of high-quality cannabis which supports our ambition to expand across the markets we operate in, and add new international growth opportunities where they arise,” said Mike Gorenstein, Chairman, President, and CEO of Cronos. “At the onset of cannabis legalization, we deliberately chose not to overbuild our facilities, focusing instead on quality and meeting consumer needs first and scaling later. With the Spinach® brand achieving the number one flower brand in Canada1, strong international demand for Peace Naturals®, and GrowCo’s proven track record of success – now is the right time to expand as there is a clear need for high-quality flower. This investment sets us up well to meet the increasing demand and seize the right opportunities as they arise.”
Transaction Details
Cronos will provide an approximately $51 million ($70 million CAD) secured non-revolving credit facility to GrowCo. GrowCo intends to use the credit facility to fund the construction of an expansion to its existing purpose-built cannabis facility in Leamington, Ontario. The interest rate under the credit facility is equal to the Canadian Prime Rate plus 1.25% and is payable quarterly. However, GrowCo is not required to begin repaying the $51 million principal until the quarter after the commencement of sales from the newly constructed area, at which point principal repayment will be made quarterly. The credit facility will mature 10 years after the commencement of sales from the newly constructed area, which are anticipated to begin in the second half of 2025. The credit facility is secured by all present and after-acquired property of GrowCo and its subsidiaries. The terms of the $105 million CAD credit facility that Cronos previously made available to GrowCo remain unchanged.
The credit facility contains customary representations and warranties and operating covenants. Advances under the credit facility are subject to customary conditions.
Pursuant to a supply agreement between Cronos and GrowCo, prior to the first sale of products from the newly constructed area, Cronos will have the option, but not the obligation, to purchase approximately 80% of GrowCo’s production. Following first sales from the newly constructed area, Cronos will have the option, but not the obligation, to purchase 70% of all GrowCo’s supply on an annual basis. The supply agreement will remain in place for four years.
Completion of construction of the facility expansion is subject to obtaining the relevant building and occupancy permits and other customary approvals. Commencement of operations in the additional areas at GrowCo will be subject to obtaining the appropriate licenses under applicable law.
1HiFyre POS Retail Dollar Sales Data P12M June 2023 – May 2024, Ending May 31, 2024. Accessed June 19, 2024.
About Cronos
Cronos is an innovative global cannabinoid company committed to building disruptive intellectual property by advancing cannabis research, technology and product development. With a passion to responsibly elevate the consumer experience, Cronos is building an iconic brand portfolio. Cronos’ diverse international brand portfolio includes Spinach®, PEACE NATURALS® and Lord Jones®. For more information about Cronos and its brands, please visit: thecronosgroup.com.
by Grow Up Conference | Jun 20, 2024 | Media Partners, Psychedelic News Wire
Psychedelic fungi and plants have been used by various Indigenous communities in their healing and spiritual ceremonies for millennia. In the 1950s and 1960s, western therapists, psychiatrists and researchers began looking into whether these drugs could be used to manage mental-health conditions. However, the approval of the Controlled Substances Act halted this research, up until about a decade ago.
Now, researchers at the UC Berkeley Center for the Science of Psychedelics are set to begin a study looking into how psychedelic substances shape how humans perceive things.
Previous research has determined that the effects of these drugs on an individual’s perception can bring about illusions or even lead to contrary interpretations of one’s image. During the study, the researchers plan to administer psilocybin to healthy human participants. Psilocybin is the primary psychoactive compound found in hallucinogenic mushrooms.
Once the drug is ingested, each participant will be asked to perform perceptual tasks while the researchers monitor their visual cortex using fMRI. The researchers’ objective is to acquire a better understanding of how this psychedelic interacts with the visual system of the brain while also gaining insights into the impact of these drugs on the human mind.
The study’s lead, Professor Michael Silver, explained that understanding how psychedelics worked at a neuroscientific level would provide insights into how the substances worked as medicines and hopefully aid in the development of more-effective treatments for a range of mental-health conditions.
Silver, who specialized in optometry, vision science and neuroscience, also noted that the researchers plan to test a hypothesis called relaxed beliefs under psychedelics. This hypothesis suggests that psychedelics relax implied assumptions, making it easier for an individual’s perception to be shaped more by raw sensory info and less by vision. This hypothesis was developed by neuroscientists Karl Friston and Robin Carhart-Harris and could be used to explain why psychedelic-assisted therapy may aid in the treatment of different mental health conditions.
This study is one of the few trials investigating the neurobiological actions of psilocybin, unlike others, which center on its effects on clinical behaviors and symptoms. This is also the first study to use human subjects in research that involves the administration of psilocybin or any other drug classified under Schedule I of the Controlled Substances Act. To obtain the campus, state and federal-level regulatory approvals needed to administer psilocybin in human subjects for their research, the scientists put in years of work.
After obtaining approval, strict rules have to be followed to handle the drug, which includes storing psilocybin in a safe, bolted securely and located behind a number of locked doors. Researchers have already began screening participants and are currently enrolling more volunteers.
Compass Pathways PLC (NASDAQ: CMPS) and other entities are also conducting clinical trials on psychedelics. More information about how these substances trigger the effects that have been observed could soon become available.
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by Grow Up Conference | Jun 20, 2024 | Extraction Magazine, Media Partners
In an era where cannabis emerges from the shadows into legitimate industrial, recreational, and medical realms, the importance of stringent quality control cannot be overstated. This flourishing industry demands meticulous oversight to ensure safety, efficacy, and consumer confidence. From the scrupulous cultivation of medical-grade strains to the precision of extraction processes for recreational products, every step must adhere to rigorous standards created to monitor and evaluate various aspects of the manufacturing process to detect and address deviations or defects that could affect the final result.
The concept of quality became a well-established topic and the concept of Quality Assurance (QA) and Quality Enhancement (QE) are widely used in higher education institutions. It is possible to consider QA as a “diagnostic” process, while QE comes, in this case, as a subsequent “treatment” process to develop the limitations that QA discovered.
This simply means that the purpose of QA is to “enhance” the quality. Additionally, it is noticeable in recent years that there has been a greater emphasis on QE rather than QA. [1]
What Specifically is Quality Control?
The Quality Management Systems (QMS) comprehend the framework, policies, processes, and procedures put in place to ensure consistent product quality. ISO 9001, for example, is a widely adopted standard for QMS. Total Quality Management (TQM) is a management approach that focuses on continuous improvement of processes, products, and services to meet or exceed customer expectations and this kind of like the ones according to ISO 9001 can help to maintain a long trusting relationship with consumers.
Some of the most important topics in quality control are:
- Statistical Process Control that involves the use of statistical methods to monitor and control manufacturing processes. Techniques such as control charts help identify variations and maintain process stability.
- The Root Cause Analysis is a systematic method for identifying underlying causes of problems or defects. It helps prevent recurrence by addressing the root causes rather than just symptoms.
- Quality Control Tools, such as Pareto analysis, scatter plots, and histograms are used for analyzing data and identifying areas for improvement.
- Supplier Quality Management is vital for upholding product quality standards, entailing thorough evaluation, audits, and ongoing performance monitoring of incoming materials and components.
- Process Capability Analysis, that is, evaluating the ability of a process to meet specific requirements is essential to ensure consistency and predictability of the output.
- Industries should follow policies that emphasize a culture of continuous improvement and encourage continuous efforts to improve quality, efficiency, and customer satisfaction.
Quality characteristics fall into two broad classes: variables and attributes. Characteristics that are measurable on a numerical scale are called variables.
Prior to defining an attribute, we should define a nonconformity and a nonconforming unit:
- A nonconformity is a quality characteristic that does not meet its stipulated specifications. Let’s say that the specification on the fill volume of packages is 30.0±0.3 grams (g). If we have a bottle containing 29.5 g, its fill volume is a nonconformity.
- A nonconforming unit has one or more nonconformities such that the unit is unable to meet the intended standards and is unable to function as required. An example of a nonconforming unit is an external packaging whose internal diameter and length do not meet specifications, thus rendering the unit dysfunctional
A quality characteristic is said to be an attribute if it is classified as either conforming or nonconforming to a stipulated specification. [2]
The Quality of Conformance implies that a manufactured product or a service rendered must meet the standards selected in the design phase. The Quality of Performance is concerned with how well a product or service performs when put to use. It measures the degree to which the product or service satisfies the customer. [2]
Reliability refers to a product’s ability to function effectively for a certain period under certain conditions. Reliability is guaranteed by the quality of the design. [2] For example, in the cannabis industry this might be called the shelf life of products. Kept in perfect environmental conditions relating to humidity, temperature and sunlight, the product will be used “best before end” of a period that can satisfy most of the customer’s needs.
QC in the Cannabis Industry
First, you need to develop a sampling plan to outline how and when to collect samples during the cannabis production stages: cultivation, processing, and packaging.
Consider sample size, frequency, locations, and techniques. Collect samples from different cannabis products such as flowers, extracts, and edibles, following established protocols for accuracy.
Meticulously document results, methods, and deviations to facilitate monitoring and regulatory compliance. Analyze data over time to spot trends, after identifying sources of contamination, improve production and control measures. Implement corrective actions such as sanitization, process adjustments, or equipment maintenance as needed. Regularly verify and validate procedures through proficiency testing, method validation and internal audits to ensure reliability and compliance.
Cannabis has been used medicinally throughout history, but its recent legal prohibition, its biochemical complexity and variability, quality control issues, previous shortage of adequately powered randomized controlled trials, and lack of relevant education have conspired to leave doctors in the dark about how to counsel patients pursuing such treatment. With the advent of cannabis-based pharmaceutical drugs like Sativex and Epidiolex, and the liberalization of access in some nations, this ignorance about cannabis pharmacology and therapies has become unsustainable. [3]
Some scholars in 2018 presented practical considerations on attempting to present concise data on cannabis pharmacology related to tetrahydrocannabinol (THC), cannabidiol (CBD), and other , administration methods (smoking, vaping, oral), and dosing recommendations. The initial dose should start at modest levels and titration of any cannabis preparation should be done slowly over a period of up to two weeks. The same researchers offered suggestions on cannabis-drug interactions, patient monitoring, and implementation of standards of care, while special cases are addressed for cannabis therapies for the treatment of epilepsy, for palliative and primary therapy for cancer, in chronic pain, use in the elderly, Parkinson’s disease, pediatrics, with concomitant use of opioids and above all to potential side effects in relation to driving and dangerous activities. [3]
This type of study will allow us to structure real therapies based on the quantity of active ingredients contained in the cannabis-derived product. Ensuring the quality of a dosage reliably uniform with that prescribed by the doctor.
Chemical and Physical QC
Involving a series of chemical-physical analysis means guaranteeing the safety, effectiveness, and quality of the product. Potency tests, conducted via methods such as HPLC or GC-MS, evaluate the consistency of cannabinoid and levels. analysis, using techniques such as GC-FID or HS-GC, ensures that extracts are free of harmful residues. Heavy metal analysis, using ICP-MS or AAS, detects and quantifies metal contaminants. Pesticide residue analysis, using LC-MS/MS or GC-MS/MS, helps verify that pesticide residues meet regulatory limits. Determination of moisture content and measurement of water activity evaluate the stability of the product. Appearance and color analysis maintain product consistency while density and viscosity measurements provide information on the consistency of the product.
Quality control in cannabis-based products is crucial in the growing legal market, but it’s closely tied to issues in the illegal one: consumers aren’t adequately protected due to the absence of contaminating substances that would otherwise be intercepted through analysis, resulting in batches that are non-compliant for the global market.
The available data in literature is mainly based on legal and medicinal cannabis, but on a global scale, the legal cannabis consumption is still much lower than the illegal consumption. In fact, in the USA, about 55 million people consume cannabis on a regular basis while only about 2 million people consume legal medicinal cannabis. [4]
Researchers in 2021 investigated the presence of aflatoxins (AF) and ochratoxin-A (OTA) in samples of illegal cannabis. The samples analyzed in this study were herbs, flowers and resins confiscated by the Luxembourgish police in 2016 and 2017. The sample preparation protocols were formulated according to the suggestions provided by the supplier of the immunoaffinity columns utilized for the identification of target contaminating molecules. The method validation was done on blank cannabis material containing AF and OTA under the limit of detection (LOD). No AF contamination (LOD = 0.04 μg/kg) was detected in any of the samples analysed. OTA however was detected in about one-third of the samples with an average concentration of 4.30 μg/kg (range from 1.02 to 16.21 μg/kg). No significant difference was observed between resin and herbal samples. [4]
This is an example for everyone, but it’s clear how crucial QC is, and legalization goes hand in hand with it, because quality assurance ensures long-term safety for use.
Microbiological QC
To carry out quality control, industry workers collect samples for microbiological analysis using standardized procedures, employing techniques such as homogenization or dilution for uniform microbial distribution.
They perform microbiological testing, including aerobic microbial enumeration, yeast and mold enumeration, and pathogen detection via molecular or culture-based methods, and then incubate the samples under appropriate conditions to promote microbial growth. Microbiological analysis, including aerobic/anaerobic/coliform counts and pathogen detection, identifies microbial contamination.
Interpreting results against established standards helps determine compliance or the need for corrective action.
According to Web of Science data from 2019, only a tiny fraction of published articles—less than 1%—focus on Cannabis microbiomes, including fungi and bacteria. Additionally, pathogens, mycotoxins, and organisms causing product spoilage are just 0.5% of the total papers. Phytopathology and computational disciplines were also underrepresented. Rising demand for Cannabis may increase pathogen and toxin risks, especially in greenhouse conditions. Contaminants like molds and toxins pose health risks, especially to vulnerable groups. Quality research is crucial for ensuring safe Cannabis production and healthcare use. [5]
Visual QC
Packaging integrity testing ensures product freshness and safety. These controls allow producers to comply with regulations and provide consumers with safe, high-quality cannabis products.
By tracing the products used for the packaging it is possible to obtain a lot of information on the conformity of the final product, the expiry date must be evaluated by establishing a shelf life standard, perfectly visible and reported on each package. Obviously, the packaging should also inform about the risks, with adequate indications, on recreational and food products derived from cannabis.
A case study of 2021 on the effectiveness of health warnings and branding on packaging investigates the perception of cannabis products among youth and young adults (18-30 years old). The findings demonstrate that brand images on cannabis packaging can promote lifestyle associations and increase the attractiveness of cannabis products among young people. Plain/standardized packages carrying health warning labels (HWL) were perceived as less attractive than branded or non-HWL packages. Lifestyle associations can be communicated through brand imagery on cannabis packaging. [6]
The policy should protect consumers from counterfeit cannabis products from the illicit market. Research and literature regarding these topics should be greatly expanded, allowing a high exchange of information between production companies and control bodies with the sole objective of ensuring continuous sustainable development of the legal cannabis market.
References:
- Elassy, N., “The concepts of quality, quality assurance and quality enhancement”, Quality Assurance in Education, Vol. 23 No. 3, pp. 250-261, 2015.
- Mitra, Amitava. Fundamentals of quality control and improvement. John Wiley & Sons, 2016.
- MacCallum, Caroline A. et al. “Practical considerations in medical cannabis administration and dosing” European Journal of Internal Medicine, 2018.
- Buchicchio L, Asselborn L, Schneider S, van Nieuwenhuyse A, Moris G, Schummer C. Investigation of aflatoxin and ochratoxin A contamination of seized cannabis and cannabis resin samples. Mycotoxin Res. 2022.
- Vujanovic, V.; Korber, D.R.; Vujanovic, S.; Vujanovic, J.; Jabaji, S. Scientific Prospects for Cannabis-Microbiome Research to Ensure Quality and Safety of Products. Microorganisms 2020.
- Leos-Toro C, Fong GT, Hammond D. The efficacy of health warnings and package branding on perceptions of cannabis products among youth and young adults. Drug Alcohol Rev. May 2021.
by Grow Up Conference | Jun 19, 2024 | Media Partners, Stratcann
Initially set for April 22, a motion by Final Bell against BZAM has been again postponed, this time until September 18 and 19, 2024.
In addition, BZAM requested and received a stay extension to and including July 15, 2024. The stay is to provide time for a stalking horse bid by BZAM’s owner to purchase the company, a move Final Bell has not opposed as they believe the move will free up the resources they seek concerning their case against BZAM.
The trial surrounds BZAM’s announcement in late 2023 that it would be acquiring Final Bell, which was quickly followed by BZAM filing for and receiving CCAA protection a few months later in February 2024. Final Bell argues the CCAA filing contradicts assurances BZAM had given the company before signing the agreement.
That deal saw BZAM acquiring Final Bell Canada by issuing $13.5 million in equity in BZAM and granting Final Bell $8 million in promissory notes. At the time, the deal was said to make BZAM the fifth-largest Canadian LP.
Final Bell reacted to BZAM’s announcement at the time by saying it believes that the company’s initiation of CCAA Proceedings constituted an “improper use of creditor protection legislation to evade its creditors, defraud shareholders, and facilitate a related party going private transaction at an unjustified discounted value in order to circumvent a customary going private transaction requiring shareholder and creditor approval.”
In April, the judge overseeing the proceedings between BZAM and Final Bell postponed the date for a trial between the two companies following last-minute information presented to the court. That date was then set later on for July 15.
In addition, Final Bell filed a motion dated March 18, 2024, that is currently scheduled for September 18 and 19, 2024. The motion seeks a declaration that the equitable damages for which BZAM and its affiliates are liable to Final Bell are subject to a trust.
As part of that motion, although Final Bell had initially sought to have the deal with BZAM rescinded, they have since argued such a process is no longer viable given what it describes as the diminished value of Final Bell Canada since BZAM acquired it.
The company is now seeking equitable damages for the deal once a stalking horse agreement is completed with the current Chairman of BZAM that would provide the cash Final Bell says is needed to pay them out.
The Stalking Horse purchaser, if approved, will become the parent of BZAM and will own all of the Applicants’ business and operating assets, including Final Bell Canada.
As part of their reports to the court, BZAM shows the actual negative net cash flow from operations on a consolidated basis for the ten weeks ended May 4, 2024, of just under $4.7 million. This is compared to a forecasted negative net cash flow of around $4.4 million, as noted in the cash flow.
by Grow Up Conference | Jun 19, 2024 | Cannabis Prospect Magazine, Media Partners
A Nova Scotia judge has rejected arguments from four defendants claiming they have treaty and aboriginal rights to sell cannabis at dispensaries on Indigenous land north of Halifax.
In a ruling released Thursday, provincial court Judge Ronda Van der Hoek said she agreed with the Crown’s argument that two expert reports provided by the defendants failed to support their claims. As a result, the defendants no longer have the option of arguing for exemptions from the law under the Constitution.
“I grant the (Crown’s) application to summarily dismiss the constitutional issues, based on the information before me at this time,” the decision says, adding that the application for constitutional arguments was “manifestly frivolous.”
In Nova Scotia, sales of cannabis must be conducted from Nova Scotia Liquor Commission outlets, and all cannabis products are subject to provincial and federal duties.
The four were charged under the federal Cannabis Act with illegally possessing cannabis for the purpose of selling and distributing it, and distributing cannabis they knew was illicit. They were also charged with failing to pay federal duties on their products.
Two of the defendants argued that as the operators of an Indigenous business on the Millbrook Frist Nation, they are exempt from federal laws governing the sale of cannabis and are entitled to operate a parallel system based on their status as band members.
In her decision, the judge says the Supreme Court of Canada has confirmed that two Mi’kmaq treaties signed in the 1700s granted the aboriginal right to trade, but the top court said that right is limited to items traditionally harvested as part of their hunting, fishing and gathering activities.
“The relevant time period … is prior to European contact,” the judge said. “The claimant must demonstrate that a practice, custom or tradition was integral to the Indigenous community’s distinctive existence and relationship to the land in the period before European contact.”
The Crown argued there is a lack of evidence that the historic Mi’kmaq community ever used the psychoactive cannabis plant, let alone traded in it.
Van der Hoek determined the expert reports provided no evidence that cannabis was used or traded by the Mi’kmaq before European contact, and she found there was no mention of the cannabis plant being used, other than as hemp.
“The respondents have provided no argument whatsoever to support a modern interpretation of such trading evolving to include the sale of cannabis and the avoidance of duties pursuant to the (federal) Excise Act,” the decision says.
The defendants had also argued the federal government failed to consult the Mi’kmaq before passage of the Cannabis Act, but the judge said Ottawa’s “duty to consult” Indigenous Peoples does not extend to the enactment of legislation that criminalizes their conduct.
“They are unable to advance the duty to consult argument based on the exercise of legislative authority alone,” the judge said. Van der Hoek said her decision was not taken lightly.
“It cannot be understated that decisions affirming and defining … aboriginal and treaty rights are significant for the communities who advance them and Nova Scotians,” she wrote.
“The court is aware that we are all treaty people, but how the treaties are interpreted must be based on a foundation that warrants consideration. At this time, that foundation has not been established for cannabis sales outside the lawful regime, and the existing regime applies to all Nova Scotians.”
This report by The Canadian Press was first published June 14, 2024.
by Grow Up Conference | Jun 19, 2024 | Cannabis Prospect Magazine, Media Partners
Avicanna Inc., a biopharmaceutical company focused on the development, manufacturing, and commercialization of plant-derived cannabinoid-based products, is pleased to announce the United States Patent and Trademark Office (“USPTO”) issuance of the Patent covering Avicanna’s SEDDS oral cannabinoid compositions and methods for treating neuropathic pain.
“We are delighted to announce the USPTO’s issuance of the Patent covering our SEDDS drug delivery technology. Research, development, and evaluation of the potential role of cannabinoids in advanced drug delivery systems for therapeutic benefit have been at the core of the Company’s mission since inception. We are appreciative of the work done by our scientists that have brought us to this milestone, and we are excited about the possibilities of further clinical applications for cannabinoid treatments in neuropathic pain and working closely with healthcare providers to support patients in need,” stated Aras Azadian, CEO.
About the SEDDS Technology
Due to the highly lipophilic nature and poor water-solubility of cannabinoids, the formulations currently available in the Canadian market have been generally described as having poor absorption and high variability of onset. SEDDS oral delivery systems offer a route for non-invasive and non-inhalation administration of cannabinoids.1-4
Avicanna’s SEDDS technology demonstrated shelf-life stability with more than 90% of the total cannabinoid(s) remaining after 6 months in accelerated conditions. CBD and THC dissolution profiles were also tested in biorelevant media which mimic human intestinal fluid and demonstrated more than 90% dispersion within one hour with continued stabilization of the emulsion.
About Avicanna Inc.
Avicanna is a commercial-stage international biopharmaceutical company focused on the advancement and commercialization of cannabinoid-based products and formulations for the global medical and pharmaceutical market segments. Avicanna has an established scientific platform including R&D and clinical development leading to the commercialization of more than thirty proprietary, evidence-based finished products and supporting four commercial stage business pillars.
by Grow Up Conference | Jun 19, 2024 | Grow Opportunity, Media Partners
(Globe Newswire) Toronto – Tether, a leading name in the Canadian cannabis industry, is thrilled to announce its third-anniversary celebration, marking this milestone with its biggest sampling event to date, in collaboration with StratCann’s respected Growing Relationships thought-leader event series. Set for Tuesday, August 20th, 2024, in the epicentre of cannabis advocacy, Ottawa, ON, the events will connect Licensed Producers, cannabis brands, retail decision-makers, and Budtenders from across the province for a day’s worth of B2B networking and education.
Tether’s Ottawa Sampling Event will run from 6:00 PM to 9:00 PM at the Preston Event Centre. This extended 3-hour format is designed to accommodate over 35 brands and 400 attendees, anticipating more than 200 Budtenders and retailers eligible for educational product sampling. Earlier in the day, StratCann’s Growing Relationships event will take place from 9:00 AM to 3:00 PM, offering industry professionals the chance to engage in high-level conversations and build relevant business relationships. The dual events provide cannabis companies the opportunity to connect, promote, and educate and provide Budtenders and retailers with the necessary education and tools to succeed as frontlines of the cannabis industry.
“StratCann is thrilled to once again partner with Tether as we unite our unique industry events and help bring the community together in Ontario,” says David Brown, StratCann’s co-founder. “What’s special is that these events are designed to benefit the entire industry and facilitate important discussions. We’re excited to create a full day for industry participants with a focus on the region’s independent cannabis brands and businesses.” Following the success of its sold-out 2023 Growing Relationships series, StratCann will bring Ontario opportunities for conversation, innovation, and collaboration with a tailored audience, including its roundtable discussion component focused on current industry issues affecting various stakeholders.
In just three years, Tether has partnered with over 80 brands across Canada and evolved into a vibrant community of over 5,000 Budtenders. Tether’s deep understanding of the cannabis community has allowed the organization to provide partnering brands with impactful opportunities to engage Budtenders in key markets with custom packages tailored to meet each business’s unique needs. Through insights and influence, Tether fosters meaningful connections between brands and Budtenders through engagements such as sampling events, retail store visits, direct mail campaigns, virtual sessions, and custom B2B marketing solutions.
“Ottawa promises to be our most attended event to date, building on the success of eight previous sold-out Tether events across Canada. The collaboration between Tether and StratCann provides a unique opportunity for daytime networking with Licensed Producers, retail decision-makers, and ancillary services followed by Tether’s popular Budtender and retailer sampling and networking in the evening,” says Katie Pringle, CEO and Co-founder of Tether. “We are offering can’t-miss engagement for the cannabis industry.”
Tether’s Ottawa Sampling Event will include beloved cannabis brands like Back Forty, Bud Lafleur, DayDay CBG, Endgame, EVEN, Frank CBD, Frooty Hooty, Glacial Gold, Good Supply, HAZO, Kinloch Wellness, Lune Rise Farms, NightNight CBN, Red Market Brand, Stewart Farms, West Coast Gifts, Wyld, and XÃMAN, with product sampling reserved for Budtenders and retailers. To increase the presence and participation of Ontario-based Black, Indigenous, and people of colour-owned brands and Licensed Producers, Tether is proud to partner with the Ontario Cannabis Store (OCS) for five sponsored equity grants. For details on eligibility criteria, please see the application form here.
by Grow Up Conference | Jun 19, 2024 | Garden Culture Magazine, Media Partners
Why Plant Delphiniums?
Delphiniums make a great backdrop or border in the June garden, especially when planted alongside foxgloves or the tall spikes of the nectar-rich hyssop. The neighborhood hummingbirds, bees, and butterflies will thank you for this gorgeous plant’s service to the garden’s ecosystem.
Delphinium Differences
Don’t confuse the spires of the perennial delphinium and the self-seeding bushy larkspur bearing the same moniker. The Royal Horticultural Society explains that perennial delphiniums are renowned for their rich colors and commanding presence. They flower in early summer. Meanwhile, easy-to-grow annual delphiniums (consolida or larkspur) are smaller self-seeding annuals that bloom all summer. Both provide equal service to the garden’s pollinators, but we focus on the perennial delphinium this month.
How to Grow Delphiniums
Delphiniums are hardy to at least -20°C and thrive during the cool nights and mornings of early summer. Plant this perennial beauty in a sunny spot in the garden with well-draining soil. They prefer early morning sun and late afternoon shade but are gracious and will adapt. A bit of a homebody, once delphiniums find a spot in the garden, they don’t like being uprooted and transplanted, so choose your location carefully. Delphiniums don’t like dry roots, but be careful not to overwater. Too much moisture can cause root rot.
Delphiniums will die back to the ground in the fall. Leave the dead, hollow stem on the plant or clip it and drop it on the ground. You will make a lovely winter home for some garden insects!
Growing Delphiniums in Containers
Container-grown delphiniums need special attention in the winter. Even if the pot has good drainage, it’s wise to pull it under cover in the fall and regulate its water intake. It’s so easy to overwater plants in the winter!
Pests and Disease
Slugs and garden snails are delphinium’s nemesis, especially in early spring as the new shoots break ground. I sprinkle garlic mixed with vinegar around the base. In humid climates, fungal issues such as powdery mildew, botrytis, and leaf spot are common. Ensuring the soil is not too wet and the leaves dry helps offset these issues.
Propagating Delphiniums
You can propagate delphiniums by dividing mature clumps, taking cuttings, or sowing seeds. However, all parts of delphiniums are poisonous, so wear gloves when handling plants and seeds.
Types of Delphiniums
Perennial delphiniums fall into three groups based on their looks:
- The Belladonna group has loosely branched flowers with side spikes that can reach 1-1.2m (3-4ft) high and 45cm (18″) wide.
- The Elatum group reaches 2m (over 6 feet!) high and flowers in early summer. If cut back after blossoming, they will flower again in early fall.
- Pacific hybrids are similar but slightly smaller, reaching 1.8m (6ft) and 75cm (30″) wide.
Delphiniums are commonly blue, but you can also find them in purple, pink, and white. As a gardener always looking for new and unusual plant varieties, I have to give a shout-out to Red Lark, a hybrid variety with all the same qualities as other perennial delphiniums but in red! It’s an excellent treat for the hummingbirds if you can find it.
See you next month as we garden and grow together!
by Grow Up Conference | Jun 19, 2024 | Media Partners, Stratcann
After some delays, BC’s Christina Lake Cannabis (CLC) recently released its financial statements for the year ending November 30, 2023.
The indoor and outdoor cannabis producer and processor posted a total revenue of $11.8 million in 2023, up from $10 million in 2022 and $3.6 million in 2021. The company posted a net loss of $4.1 million for 2023, compared to a net loss of $2 million in 2022 and $2.1 million in 2021. The company also reported more than $227,548 in regulatory fees for the year ending November 30, 2023.
Revenue was primarily from distillate sales, with CLC attributing a year-over-year decline in gross margin percentage to price compression in the wholesale distillate market.
CLC operates two outdoor production sites in BC, one on a 32-acre property and the other on a 100-acre property. It also processes its own biomass into distilled and winterized oils, kief, and other extracts for sale to other producers.
After the end of this most recent reporting period, the company also secured a third outdoor production site in BC, BZAM’s former Midway site, along with related harvesting and manufacturing equipment and approximately 19,000 kg. of biomass.
The Midway property is 342 acres, with just over 100 acres of licensed cultivation space. With this acquisition, CLC will expand its licensed outdoor cultivation footprint to over 120 acres. Further expansion of additional acreage is available and could be licensed by the company should the demand arise.
The company plans to grow the first 80-acre crop of their proprietary CLC cultivars in 2024 at the new site, with expansion to 100 acres planned for 2025.
In January, Christina Lake Cannabis also repaid its Canada Emergency Business Account loan in full. Because the loan was repaid before the January 18, 2024 deadline, $10,000 of the original $40,000 interest-free loan was forgiven.
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