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Week in Weed – February 24, 2024

Media Partners, Stratcann

This post is presented by our media partner Stratcann
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Several interesting, unique stories came from StratCann this past week. David Brown published an in-depth look at the current state of the hemp industry in Canada, and the challenges it faces in scaling up to meet demands.

A new study from researchers at the University of Waterloo and the University of Toronto says retail cannabis stores in Canada are evenly distributed across different neighbourhood types. 

ISED’s “Cannabis Industry Forum” was finally formally announced this week. While some outlets reported this was the “launch” of the forum, this is simply the first formal announcement of a list of names that have been floating around for about a year now. 

A Manitoba cannabis brand is taking a former partner to court and the SQDC says it is pulling back operating hours at twelve branches.

BC’s Community Savings Credit Union announced new affordable invoice factoring for cannabis licensed producers.

A Kelowna cannabis store received a fine of $7,000 for failing to check ID, an expensive lesson. Burb Cannabis was finally able to open its new store near UBC after a nearly three-year wait and New Brunswick’s eighth private cannabis store opens in Hampton

We also shared our newest from our profile series, this time speaking with Kootenay Cultivar about their approach to small batch craft cannabis.

In other news…

Canadian cannabis company Mendo Medical is bringing the California-based Beard Bros Pharms brand to the Canadian market. Beard Bros products will be available in early March. 

Simply Solventless Concentrates says it is set to launch six third-party branded products in Alberta and one in Ontario.

First launched in Ontario, HYTN Innovations Inc. announced the expansion of its 100 mg THC Nano Shot Citrus to the British Columbia and Alberta markets. Each Nano Shot bottle delivers 100 mg of nano-emulsified THC in accurate 0.05 mL increments.

Klonetics announced they have successfully exported their cannabis products to Israel and Australia.

Canopy Growth Corporation announced the introduction of five new pre-roll products across the Company’s adult-use cannabis portfolio from brands 7ACRES and Hiway.

Aurora Cannabis Inc. announced that Simona King, a former executive of Bristol Myers-Squibb, a leading multinational pharmaceutical company, has been appointed as Chief Financial Officer of the Company, effective February 21, 2024.

Researchers and health experts are expressing concern at the potential for high-potency THC products to have harmful health effects, particularly among young men, reports CBC. The Schizophrenia Society of Canada recently launched the Cannabis and Psychosis Project, an online resource to help address some of these concerns. Hospital visits for cannabis-induced psychosis increased by 220% in Ontario between 2014 and 2021.

BC teens are trying cannabis, alcohol, or tobacco at the lowest rate in 30 years, according to a new survey from the ​​McCreary Centre Society, a Vancouver-based non-profit that does research on youth health. The Society will publish an in-depth look at youth cannabis use in early 2025.

From the report: “In 2023, 22% of youth had ever used cannabis, which was a decrease from previous survey years (e.g., 25% in 2018, 30% in 2008, and 41% in 1998). Youth who had used cannabis had most commonly first tried it at age 14 or 15. Compared to 5 years earlier, there was a slight increase in youth who used cannabis for the first time at age 12 or younger (15% vs. 14% in 2018), and a decrease in the percentage who waited until they were 15 or older to try it (44% vs. 47% in 2018).”

Cannabis industry event Token Tuesday came back to Winnipeg this past week, with its largest show yet, according to many who attended. 

Manitoba NDP’s Minister of Sport, Culture, Heritage and Tourism, Glen Simar, says the government will continue to take a close look at the province’s retail model, which includes the possibility of government run stores. 

Cannabis NB will bring its Cannabis Expo to the Fredericton Capital Exhibition Centre on March 16. The Cannabis Expo is a cannabis education tradeshow that’s expertly crafted for 19+ New Brunswickers who consume cannabis, as well as those who are just curious about the industry and these products. 

International cannabis

One of the biggest cannabis news stories this week was when Germany passed a law allowing individuals and voluntary associations to grow and hold limited quantities of cannabis. Later this year, the law will allow for cannabis cultivation clubs, similar to Uruguay, as well as personal cultivation of up to three plants for private consumption, and the possession of up to 25 grams of cannabis.

This post was originally published by our media partner here.

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