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Week in Weed – December 2, 2023

Media Partners, Stratcann

This post is presented by our media partner Stratcann
View the original article here.

This past week, we looked at the OCS’ plan to begin a temporary THC testing program in 2024, the province’s plan to increase the retail store cap to 150, and the OCS’ first round of Social Impact Fund partnerships.

We also covered Cronos’s new deal to sell and then leaseback their Peace Naturals Campus in Ontario, looked at BZAM’s most recent quarterly report, and a Victoria cannabis store that is sharing profits with employees

In other cannabis news from Canada and around the world:

Cannabis grown and packaged by Yellowknife’s Boreal Cultivation is now for sale in the NWT city for the first time. Boreal began selling its Gas Banana strain in some parts of Canada three months ago, but Friday marked its first day on sale within the Northwest Territories

Delta 9 announced that it received a certificate of compliance with Good Agricultural and Collection Practices (GACP) for its Winnipeg-based cannabis cultivation and processing facilities. The certification—which means Delta 9’s operations are in compliance with guidelines for starting materials and medicinal products of herbal origin and within the requirements of international destination countries—is valid until November 9, 2025.

Organigram says that its US partner Phylos Bioscience Inc., a cannabis genetics company in Oregon and provider of production-ready seeds, has achieved the first milestone under an agreement entered into in May 2023, unlocking the next round of funding to Phylos.  

As part of the partnership, Phylos has been developing production-ready first-generation (“F1”) hybrid cannabis seeds for Organigram. The milestones achieved so far consist of: delivery of a 1:1 THCV cultivar at 10%+ THCV potency, a 3:1 THCV cultivar at target 18% THCV (16% minimum), and four THC aroma specific cultivars (in either Berry, Citrus, or Gas).

Greenway Greenhouse Cannabis Corporation reported its interim financial statements for the second quarter of 2023, which ended September 30. Greenway reported $1,185,611 of revenue with an average cash cost per gram expensed for the quarter of $0.67, comprising all crop inputs and wages, bulk packaging, shipping, and facility repairs and maintenance.

Adastra Holdings Ltd. reported financial results for Q3 2023 with gross revenues of $8.1 million, gross profit of $2.2 million, and net loss and comprehensive loss of $642 thousand. Adastra is a processor and producer behind the brands Endgame and Phyto Extractions. Endgame ranks among the top selling concentrates in Alberta and BC and vape pens in Ontario. 

CanadaBis Capital Inc. posted net revenue in 2023 of $22.2 million and gross profit of $11.8 million during the year ended July 31, 2023. CanadaBis operates several production facilities and owns the Stigma brand, INDICAtive Collection, and 95% control of Goldstream Cannabis Inc.

MTL Cannabis Corp reported its Q2 2023 results with $19 million in revenue and gross profits of $6.3 million. MTL is the parent company of  MTL Cannabis in Québec, Abba Medix Corp. in Ontario, and IsoCanMed Inc. in Québec.

The Tobacco Reporter spoke to Deepak Anand of Vancouver-based ASDA Consultancy Services about the state of the cannabis industry in Canada.

The Globe and Mail looked at Indigenous cannabis businesses operating within and outside of provincial and federal regulations, speaking with Robert Stevenson of Medicine Wheel and Vikram Sachdeva of Seed & Stone.

The Supreme Court of Canada dismissed the appeal of a man who was found with 100 lbs. of cannabis in his vehicle. The full ruling can be read here

A recent survey conducted by CAA South Central Ontario (CAA SCO) shows what they call an alarming trend indicating a rise in cannabis-impaired driving, particularly involving edibles. Unsurprisingly, the data does not appear to distinguish between people who consumed cannabis and people who are legally impaired by cannabis. 

Mendo Cannabis says they will now carry JC Medicinal products on their medical platform.

The Resort Municipality of Whistler’s (RMOW) framework for approving cannabis retail has come under scrutiny after a prospective retailer triggered a judicial review of the process in BC’s Supreme Court.

The National Post ran a story in which some Canadian veterinarians say they feel left out of the legal cannabis framework. Dr. Ian Sandler of the Canadian Veterinary Medical Association claims the federal Health Minister’s office assured them this was an oversight in 2019 and that it would be a part of the five-year review.   

Policy Options ran an incredibly poorly researched bit of clickbait about OCS revenues in Ontario that misrepresents how these finances are managed and distributed.

New Scientist launched the first of a three-part, in-depth podcast series on cannabis, looking first at the plant’s history and then at current policies and research. You can read all of New Scientist’s coverage on cannabis here

US border officials seized several kilograms of cannabis at the Canadian border.  

In New South Wales, Legalise Cannabis Party MLC Jeremy Buckingham made headlines when he waved around some cannabis in parliament while introducing a bill to legalize the drug. “What’s to be afraid of? Here it is, Mr President, a bit of cannabis, medicinal cannabis,” Mr Buckingham said, pulling the cannabis from his suit jacket pocket.

And finally, Police in Saint-Jean-sur-Richelieu, QC, seized 413 plants, 3,000 grams of cannabis and $80,000 in property on Nov 2.

This post was originally published by our media partner here.