The government of Canada wants more input in the long process towards filling in the details ahead of cannabis regulation across the country.
Health Minister Ginette Petitpas Taylor took the podium in the halls of parliament on Tuesday (Nov. 21) to announce a new public consultation campaign on the regulatory plan for all aspects of cannabis, including the much anticipated recreational market slated for July 1, 2018.
The federal government has faced criticism on its insistence to maintain its legalization deadline of cannabis despite numerous requests for a delay from the opposition and other government levels.
When asked about the possibility of moving the legalization date the minister said it won’t be changed, adding if provinces or other territories don’t have a functioning distribution model by the deadline, residents in those areas could buy cannabis online while the details are completed.

No limit on licenses given by Health Canada

According to Petitpas Taylor, Health Canada will not limit the number of licenses it gives out to cannabis producers next year, following adult-use legalization.
Alan Brochstein, a cannabis analyst with 420 Investor, told INN in an email licensed producers (LPs) don’t see micro-producers as potential disruptors on their business. In fact “some look forward to working with them to help them distribute”, he said.
Bill Blair, parliamentary secretary to both the health and justice ministers–and the person tasked with leading cannabis regulation for the Liberals–said these micro-producers will be able to sell their product through “provincial sellers.”
It was unclear if the micro-producers will face the same type of scrutiny as the LPs do when it comes to their growing methods. However, Petitpas Taylor still encouraged small businesses to apply for licenses through Health Canada and enter the market.

Cannabis packaging

Petitpas Taylor outlined the proposed packaging regulations set to be followed by LPs in Canada. She described the packing must indicate THC levels, CBD levels, a health warning, be sealed and tamper resistant. The minister emphasized the coloring and prints in the packaging can’t entice minors or children to consume cannabis in any way.
The minister cautioned that these are not final regulations but instead the government is seeking more input from Canadians. Brochstein told INN that LPs don’t want plain packaging.
Parties will have 60 days for their voices and concerns to be heard by the government of Canada, after which time the government will publish “a summary of the comments received as well as a detailed outline of any changes to the regulatory proposal.”
Don’t forget to follow us @INN_LifeScience and @INN_Cannabis for real-time news updates!
Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.

American cannabis sales hit US$17.5 billion in 2020, a research group’s new study shows.

Meanwhile, a Canadian cannabis producer began offering CBD beverages in the US, another move that shows how interested Canadians are in the overall US cannabis market at the moment.

Keep reading... Show less

An Emerging Markets Sponsored Commentary

Some pretty important news out of health and wellness; beverage and natural products company BevCanna Enterprises Inc. (CSE:BEV, Q:BVNNF, FSE:7BC) this week. For those of you following the Company with us, stay tuned.

Keep reading... Show less

As investors continue to prioritize cannabis opportunities in the US, market watchers expect mergers and acquisitions (M&A) to play a role in the future for Canadian companies.

A consolidation trend has been expected in the Canadian cannabis space for some time now based on the size of the market compared to the number of operations in the country.

Keep reading... Show less

The product will include polyphenols known to have significant health benefits.

BioHarvest Sciences Inc. (CSE: BHSC) (“BioHarvest” or the “Company”) has reached an important milestone in its development program of additional Nutraceuticals. The olive-based Nutraceutical product scheduled for market availability in the second half of 2022 will contain the following unique matrix of polyphenols: hydroxytyrosol, trosol, and verbascoside. These compounds are the major polyphenols in naturally grown olives and are responsible for the high antioxidant activity of olives and olive oil. Importantly, the BioHarvest olive-based Nutraceutical product will provide all the benefits of olives and olive oil with a low calorie count per serving.

Keep reading... Show less

Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco” or the “Company”), one of the largest vertically integrated multistate cannabis operators in the United States, announced today that it will report financial results for the fourth quarter and full year ended December 31 st , 2020 on Thursday March 25 th , 2021 before the market opens.

The Company will host a conference call and webcast to discuss its financial results and provide investors with key business highlights on Thursday March 25 th , 2021 at 8:30am Eastern Time (7:30am Central Time).

Keep reading... Show less