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Week in Weed – April 13, 2024

Media Partners, Stratcann

This post is presented by our media partner Stratcann
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This week in cannabis news, StratCann reported on Ontario’s AGCO issuing a $200,000 fine for “data deals” to a cannabis retail chain. At the same time, the OCS says they are already seeing a decline in high THC cannabis flower following the announcement of their internal testing program in January.

In BC, Surrey will finally begin accepting applications for cannabis stores, while the BC Budtenders Union added new members.

Quebec’s ban on cannabis vapes doesn’t appear to be keeping residents from using them

Diteba Laboratories Inc. filed a notice of intent, and Tilray shared their most recent financial report

In other cannabis news…

Business in Vancouver’s Daisy Xiong spoke with Deepak Anand from ASDA Consultancy Services, Julia Cameron from Pure Sunfarms, and Kirk Tousaw from Great Gardener about the recent Cannabis Act report. 

Xiong also ran a story on BC cannabis exports, speaking again with Deepak Anand, as well as Paul Furfaro from Village Farms International Inc. (Pure Sunfarms parent company), and Philip Campbell of Herbal Dispatch.

CBC’s Terry Roberts spoke with Brian Keating about the recently closed Argentia Gold, Chris Crosbie from Atlantic Cultivation, and Bruce Keating from the NLC about the challenges facing the local cannabis industry. Retail cannabis sales in Newfoundland and Labrador will be near $90 million for the 2023-24 fiscal year, says the latter Keating. 

CBC also ran a story on the challenges facing the medical cannabis sector in Canada. The article includes comments from Erin Prosk of Quebec’s Santé Cannabis, Dr. Mary-Ann Fitzcharles, a spokesperson for the Canadian Medical Association, and a rheumatologist and a pain medicine physician at Montreal’s McGill University.

A study was released last week looking at the demographic and health-and medical cannabis-related factors associated with authorization as well as the differences in medical cannabis use, side effects, and sources of medical cannabis and information by authorization status in Canada. The study involved input from several well-known names in Canadian cannabis, such as Lynda Balneaves, Ashleigh Brown, Matthew Green, Erin Prosk, Lucile Rapin, Max Monahan-Ellison, Eva McMillan, Jonathan Zaid, Michael Dworkind, and Cody Z. Watling.

A master’s student in biochemistry and medical genetics at the University of Manitoba won a competition for her work looking at the epigenetic changes induced by prenatal cannabis smoke exposure.

BC’s Avant Brands launched a $3.88 million non-brokered private placement offering.  

Decibel Cannabis Company Inc. announced Benjamin Sze as its new CEO, effective April 8, 2024. Sze previously served as the CEO of Decibel before resigning in late 2020. Former CEO Paul Wilson will be assisting Mr. Sze in handing off leadership of the Company.

Decibel’s sale of Prairie Records to Fire & Flower also closed last week.

High Tide Inc. announced a transition to a new CFO effective May 1, 2024.

SNDL CEO Zach George and CFO Alberto Paredero will participate in several upcoming investor and cannabis conferences, including the International Cannabis Business Conference (ICBC) in Berlin and the Benzinga Cannabis Capital Conference in Miami this month.

Following an NOI filed by Hempsana Inc., the Ontario Superior Court of Justice recently issued an order extending the time within which the Company is to make a proposal to May 24, 2024. Hempsana is a licensed manufacturer of cannabinoid derivative products specializing in extraction, purification, and end-product manufacturing.  It owns and operates an 8,880 sq. ft. extraction facility in Goderich, Ontario.

Finally, ABC News in Australia reports that data from Australia’s Therapeutic Goods Administration shows there have been six reported cases of people having adverse reactions to prescribed cannabis since 2019, and two of those cases involved Canadian products.

This post was originally published by our media partner here.