The cannabis industry has been busy with a variety of news stories in the last week, including the controversy around edible extracts, a push for cannabis retail in Surrey, a study on Canadian cannabis consumers, and the Cronos Group’s latest earnings report. Additionally, there have been reports of cannabis poisonings in children in Quebec, NIMBY politics blocking retail cannabis shops, and Snoop Dogg partnering with Atlas Global Brands. In this article, we’ll dive into each of these topics, exploring the latest news, opinions, and reactions from industry experts and stakeholders.
Edible Extracts: The Evolving Situation
This week, there has been controversy surrounding edible extracts, with Adastra Labs receiving a license to produce a small amount of cocaine for scientific research purposes. This news generated a great deal of misinformation, with many believing the company was going to sell cocaine to consumers. Health Canada was forced to clarify the decision, stating that the company is only producing cocaine for scientific research purposes. However, this story spilled out into the general media on Thursday, with politicians like BC premier David Eby and Poilievre and Trudeau weighing in as well.
Push for Cannabis Retail in Surrey
The Surrey Board of Trade is pushing to bring cannabis retail to town, with a report citing a potential economic boost of $100 million over the next decade. This move has sparked some controversy, with concerns raised about the impact on public health and safety.
Full-Spectrum Extracts: A Closer Look
Full-spectrum extracts have been gaining popularity in the cannabis industry, but what exactly are they? This article will provide a closer look at full-spectrum extracts, exploring their benefits, drawbacks, and potential applications.
Cronos Group’s Latest Earnings Report
Despite a 23 percent boost to revenues, the Cronos Group reported a $78.9 million loss in Q4. Interestingly, the company says they plan on keeping their Ontario “Peace Naturals Campus” in operation, due in large part to the company’s dominance in the edibles category. The company had previously said they intended to begin winding down operations at the facility. This news has sparked discussions around the company’s financial performance and future prospects.
Canadian Cannabis Consumers: Where Are They Buying?
A study published in the Harm Reduction Journal has found that an increasing number of Canadian cannabis consumers are buying from the legal market. Investigators from the University of Waterloo School of Public Health surveyed more than 15,000 Canadian cannabis consumers about where they obtain their products, evaluating data from 2019 to 2021. The data covers the majority of Canada’s first three years of cannabis legalization, as licensing for retail sales first began in October 2018.
Cannabis Poisoning in Children in Quebec
Quebec City Police have announced that they are investigating what sounds like a pattern of reports of cannabis poisonings in children. This news has raised concerns about the safety and accessibility of cannabis products, particularly in regions where legalization is relatively new.
NIMBY Politics Blocking Retail Cannabis Shops
Even in 2023, NIMBY politics are still blocking retail cannabis shops – this time in Fort McMurray, AB, where members of a local condo association successfully got the town council to block a proposed retail shop. This is an interesting thread to watch: the condo board took the line that dispensaries attract crime, although dispensaries are overwhelmingly the victims of crime, as Alberta’s move to kill window-covering regulations shows.
Snoop Dogg Partners with Atlas Global Brands
Snoop Dogg’s partnership with Atlas Global Brands highlights the growing trend of celebrity involvement in the cannabis industry. As legalization continues to spread across the globe, more and more celebrities are investing in cannabis companies, launching their own brands, or endorsing existing products. While some see these partnerships as a way to bring more legitimacy and mainstream appeal to the industry, others question whether celebrities have the necessary expertise or credibility to promote cannabis products. Regardless, it seems clear that celebrity partnerships will play an increasingly important role in the future of the cannabis industry.
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