We’re looking forward to welcoming you to Growing Relationships in Winnipeg, MB on Monday, October 16!
Here are the details for our Growing Relationships attendees. Please read it through fully and reach out if you have any questions. We suggest you bookmark this page and have it handy on your phone for October 16.
VENUE:
The event is at the Inn at the Forks Hotel (75 Forks Market Rd, Winnipeg, MB). We will be in the Forks Ballroom on the 2nd floor. There is an elevator for anyone with mobility issues, and signage in the front lobby.
PARKING:
There are several parkades in the area, including the Forks Parkade. The cost is $2/hour at the pay stations via card only (no cash).
The two closest options are the surface lot on the North (back) side of the hotel, and the side of the Hotel that faces the Canadian Museum for Human Rights. There is also a multi-level parkade right next to that and many other surface lots located around the Forks.
AGENDA:
Time
Monday, October 16
9:00 – 10:00
Registration, Networking & Breakfast
10:00 – 10:15
Welcome & Introductions
10:15 – 11:00
Industry Roundtable Workshop
11:00 – 12:00
“Weed-dating“!
12:00 – 1:00
Lunch
1:15 – 2:15
CannaTalks Panel
2:15 – 2:30
Afternoon break
2:30 – 3:30
Retail Panel: the unique needs and challenges for Manitoba retailers
3:30 – 4:30
Producers Panel: unique paths to market in Manitoba
4:30
Closing Remarks, prizes & wrap-up
Dress for the weather!
We have exclusive use of the outdoor patio where we will host our ‘weed-dating’ activity, weather-dependent. Please ensure you have a jacket handy and keep an eye on the forecast for the day! This space will also be available for informal networking throughout the day.
Adult Only Event
Just a reminder that this is an adult-only event (19+), ID may be requested upon entry.
Wholesale marijuana prices have recently found stability or even experienced slight rebounds in select markets during the summer. However, industry experts are advising cultivators to prepare for a potential renewed downward trend as the fall harvest bolsters inventories through the year’s end.
Ben Burstein, a strategist at LeafLink, points out that a significant inventory buildup is observed across the industry during this time of the year, particularly around the harvest season, triggering substantial price drops. LeafLink’s data gathered from 13 states shows that after several months of consistently hitting record-breaking lows, wholesale cannabis flower prices have stabilized in certain well-established markets, such as Michigan and California. While this is good news for producers, retailers are grappling with rising costs.
In California, for instance, retailers paid more than 29% more for marijuana flower in August compared to the previous year due to a 15% decline in licensed square footage. Meanwhile, Michigan witnessed a 19% price rebound since the end of 2022, registering more than a 4% increase compared to the previous year.
In contrast, Oregon and Oklahoma, known for having some of the lowest wholesale marijuana prices in the country, experienced price increases of more than 5% and 7%, respectively, compared to the previous year. On a broader scale, prices across the 13 states exhibited a 4% year-over-year increase in August 2023 and a 15% rise compared to the end of last year.
Despite these positive trends, wholesalers in most states continue to grapple with price compression due to an oversupply of inventory. According to Cannabis Benchmarks, prices have reached a “historic low,” with the spot index plummeting to only $935 per pound, a 7.3% decline from September last year.
Burstein noted that the marijuana market tends to follow a similar pattern in most states. When medical cannabis programs launch, prices per pound can reach as high as $10,000. However, as more growers become licensed, prices gradually decline.
For instance, in Maryland, where recreational cannabis sales commenced in July, prices surged by more than 40% from August 2022 to August 2023. In Missouri, adult-use sales introduced in February increased wholesale cannabis flower prices from around $1,500 per pound in late 2022 to more than $2,000 per pound in August.
Arizona, after experiencing oversupply issues in 2021 and 2022 due to extensive greenhouse cultivation, saw prices inch up slightly in August, rising by more than 2%. Colorado, on the other hand, currently boasts the lowest wholesale prices in the nation, standing at $810 per pound in August.
In Massachusetts, the market is adjusting to reduced out-of-state demand, dropping from 25% to 15% following cannabis legalization in neighboring states such as Vermont, New York and Connecticut. Wholesale prices in the state have fallen by more than 27% since August 2022. Looking ahead, Burstein predicts further declines in the latter half of the year, as pricing shifts typically occur between the harvest and the early months of spring, when product availability decreases.
Cannabis companies such as Aurora Cannabis Inc. (NASDAQ: ACB) (TSX: ACB) are used to these seasonal changes in the wholesale price of marijuana, and likely calculate this into their pricing policies so that they still earn a profit by the end of the year.
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CNW420 spotlights the latest developments in the rapidly evolving cannabis industry through the release of two informative articles each business day. Our concise, informative content serves as a gateway for investors interested in the legalized cannabis sector and provides updates on how regulatory developments may impact financial markets. Articles are released each business day at 4:20 a.m. and 4:20 p.m. Eastern – our tribute to the time synonymous with cannabis culture. If marijuana and the burgeoning industry surrounding it are on your radar, CNW420 is for you! Check back daily to stay up-to-date on the latest milestones in the fast -changing world of cannabis.
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Microdosing is the practice of taking very small doses of a psychedelic to gain some of its purported benefits, such as heightened creativity, better mental well-being and increased productivity, without experiencing any mind-bending effects.
With a growing number of studies connecting various psychedelics to significant improvements against mental conditions such as depression, anxiety, eating disorders and post-traumatic stress disorder (PTSD), psychedelics present an attractive alternative to conventional mental health treatments.
However, findings from a recent scientific review show that long-term psychedelic microdosing may have adverse health effects, especially in regard to heart health. Published in the “Journal of Psychopharmacology,” the review noted that chronic psychedelic microdosing may increase the risk of developing valvular heart disease (VHD), a condition that affects heart valves, which regulate blood flow in the heart. VHD can range from mild to serious and cause symptoms such as shortness of breath, chest pains, fatigue and, in extreme cases, heart failure.
The researchers found that microdosed psychedelics such as psilocybin, LSD and mescaline may influence the risk of VHD by interacting with 5-HT2B receptors that are associated with serotonin neurotransmitters and are involved in regulating a variety of physiological processes across the body. After studying LSD, DMT, psilocin and MDMA, the research team found that psilocin had a higher risk of VHD than LSD because it could bind more tightly to 5-HT2B receptors compared to 5-HT2A.
DMT also presented a risk of influencing VHD development, but its very short half-life increased its safety margins compared to other psychedelics.
Mescaline, on the other hand, has a low potency, which made it harder for researchers to draw conclusions on how it interacted with 5-HT2B receptors. Still, the researchers surmised that the psychedelic presented a potential risk for VHD based on its binding affinity and concentrations within the blood plasma. MDMA exhibited the highest risk of developing VHD. Both MDMA and MDA, its metabolite, have minimal safety margins when microdosed because they are strong 5-HT2B antagonists.
Additionally, the existence of VHD cases in long-term MDMA users adds to the evidence that the psychedelic has a strong association with valvular heart disease.
The research team concluded that chronic psychedelic microdosing may be associated with the development of VHD and called for further studies to better understand the risk of long-term psychedelic microdosing.
The concerns raised by this research focused on the possible link between chronic psychedelic microdosing and VHD lends credence to the position held by startups such as Compass Pathways PLC (NASDAQ: CMPS) that psychedelics should only be used under medical supervision; their drug-development pipelines are based on this premise.
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The RCMP in Kitchener, Ontario say the discovery of thousands of cannabis plants led to the seizure of several other controlled substances and guns, along with the arrest of six individuals.
In a press release on October 5, the RCMP shared information about Project O COSMOS, which led to the execution of three search warrants in the first half of August.
Police say they first discovered 1,365 cannabis plants, which led to a broader investigation that uncovered more than 200 kg of dried cannabis, cocaine, meth, MDMA, psilocybin mushrooms, hashish, and several types of guns and ammunition.
The Kitchener RCMP worked in collaboration with the Shelburne County OPP and the Waterloo Regional Police on the operation. The warrants were executed at locations within Melanchthon Township, the City of Kitchener, and Wilmot Township.
The 1,365 cannabis plants were growing at the property in Melancthon Township. There were also 88 large bags of dried cannabis seized at the same location.
The other 3 properties also had numerous drug and guns seized including:
Over 200 kgs of dried marijuana,
More than 60 kgs of psilocybin,
6.25 kgs of hashish,
72 kgs of cannabis edibles
4 grams of cocaine
914 grams of methamphetamine,
936 grams of MDMA
one Glock 9mm hand gun with 2 loaded magazines,
a .22 calibre rifle
2 replica firearms.
Charges have been laid against the following people:
Em Kha Khuong (37) Thanh Hien Hong (40) and Tuong Nguyen (39) have been charge with:
Possession of a Schedule I substance for the purpose of trafficking contrary to Section 5(2) of the Controlled Drugs and Substances Act X 3
Possession of a Schedule III substance for the purpose of trafficking SEC 5(2) of the Controlled Drugs and Substances Act
Unauthorized possession of a prohibited or restricted firearm contrary to Sec 88 of the Criminal Code
Possession of a prohibited device or ammunition contrary to Sec 88 of the Criminal Code
The following people have also been charged: Thi Ty DO (71)
Possession for the purpose of distributing contrary to Sec 9(2) of the Cannabis Act
Possession for the Purpose of trafficking a Schedule I substance contrary to Section 5(2)
Of the Controlled Drugs and Substances Act
Possession for the Purpose of trafficking a Schedule Ill substance – Psilocybin contrary to Section 5(2) of the Controlled Drugs and Substances Act
Duc Duy Hoang (45)
Possession for the purpose of distributing contrary to Sec 9(2) of the Cannabis Act
Possession for the Purpose of trafficking a Schedule I substance contrary to Section 5(2)
Of the Controlled Drugs and Substances Act
Possession for the Purpose of trafficking a Schedule Ill substance – Psilocybin contrary to Section 5(2) Of the Controlled Drugs and Substances Act
George Gobran (53)
Possession for the purpose of distributing contrary to Sec 9(2) of the Cannabis Act
Possession for the Purpose of trafficking a Schedule I substance contrary to Section 5(2)
Of the Controlled Drugs and Substances Act
Possession of a Schedule I substance, cocaine, contrary to Section 5(2) of the Controlled Drugs and Substances Act
KHUONG, HONG and Nguyen are currently held in custody. DO is due in court at 85 Frederick St, Kitchener on October 6th, 2023. HOANG and GOBRAN are due in court on October 27th, 2023.
The Kitchener RCMP would like to thank the Waterloo Regional Police Service and the Shelbourne OPP for their assistance in this investigation.
“The RCMP with the assistance of Waterloo Regional Police Service and the O.P.P. again helps put a stop to the illegal activities occurring in numerous communities. We are pleased to be able to keep our communities safe by seizing both drugs and guns from another organized crime group. These results speak to the continuous efforts and commitments the RCMP and our partners bring to public safety.”
The number of regulations that impose administrative burdens on cannabis businesses increased in 2023 after remaining steady for several years.
As part of an annual report from Health Canada, the Administrative Burden Baseline, the government tracks all federal regulations that are administered by Health Canada and impose administrative burden on all types of businesses.
The total amount of these regulations (21,034) increased by about 2 percent from 2022, while the total affecting cannabis increased by about 1.5 percent. Cannabis is included in about 12 percent of all these types of Health Canada regulations.
From 2020to2022 there were 3,406 of these regulations identified as relating to cannabis, increasing to 3,460 in 2023. The majority of these (2,577) were within the Cannabis Tracking System Order, which actually decreased slightly from 2022 (2,580).
The total amount of these types of federal regulations jumped from 16,495 in 2019 to 20,058 in 2020, largely due to the legalization and regulation of new classes of cannabis products like extracts, edibles, and topicals, as well as the addition of new reporting requirements as part of the Cannabis Tracking System Order.
An overall increase in regulations was attributed to new cannabis regulations in 2019, as well.
On September 22, 2023, Harris & Partners Advisory was appointed as the receiver (the “Receiver”) of all the assets, undertaking and properties of Wabi Sabi Brands Ltd. (“Wabi Sabi”) pursuant to an appointment of the secured creditors.
Wabi Sabi operated a premier, artisanal, chocolate cannabis edibles production facility in Calgary, AB. The facility boasts several pieces of manufacturing equipment of recent age and in very good condition, including a complete processing line, x-ray machine, lab and packaging and labelling equipment.
On October 3, 2023, the Receiver commenced a Sales Process (“Sales Process”). The Sales Process is being conducted in accordance with the procedures, which can be located on the Receiver’s website: www.hpiadvisory.com/wabisabi.
Interested parties who wish to pursue a potential acquisition are required to execute a Confidentiality Agreement to receive access to the data room.
Per the Sales Process, bids must be submitted by no later than 12:00 pm (Calgary Time) on October 27, 2023.
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