One Canadian marijuana industry leader is asking how long will it take for the country to change its tune on regulating cannabis-infused drinks.

Meanwhile, earnings season had a busy week as various companies issued their quarterly reports, giving a panoramic view of the current state of the cannabis business. In the US, talks picked up about the impact of Joe Biden’s Democratic vice president nominee.


Keep reading to find out more of the highlights from this week.

Canopy wants cannabis drink regulation changes

Following the release of Canopy Growth’s (NYSE:CGC,TSX:WEED) latest quarterly results, CEO David Klein told the market he is unhappy with the buying restrictions on cannabis drinks in Canada.

The current Health Canada standard makes it so cannabis beverages can have up to 10 milligrams of THC. But consumers are only allowed to have 2.1 liters worth of cannabis beverages in their possession — a calculation that’s based on fluid volume, not the volume of THC in the fluid.

Klein instead wants to see purchase limits based on the active cannabis ingredients that drinks have.

“Every single provincial cannabis lead is on the same page as we are. The question they bring up is, ‘When is the timing right?’ I think it has as much to do with the political cycle in Canada as anything else,” Klein told Yahoo Finance Canada.

As the company celebrated the sale of over a million canned cannabis beverages in Canada since mid-March, Klein expressed frustration with the political timing, which in his eyes comes at a time of indecision from the federal government.

Canopy Growth has expressed a clear interest and desire to see beverages pick up as a consumption method for recreational cannabis products. Part of its drive stems from its relationship with alcohol-maker and expert beverage company Constellation Brands (NYSE:STZ) — in fact, Klein is a former Constellation Brands executive himself.

Earnings season comes out in full swing

Besides Canopy Growth’s results, several other cannabis operations reported to investors this past week with detailed results on their performance.

Investors got a closer look at the businesses of:

  • Tilray (NASDAQ:TLRY)
  • Sundial Growers (NASDAQ:SNDL)
  • Zenabis Global (TSX:ZENA)
  • Canopy Rivers (TSX:RIV,OTC Pink:CNPOF)
  • The Green Organic Dutchman Holdings (TSX:TGOD,OTCQX:TGODF)

On a different type of regulatory matter, Health Canada, the country’s cannabis regulator, issued a stern warning for consumers with children and the placement of cannabis products.

According to a Canadian Press report, since cannabis became legal for adult recreational use, there have been at least 15 cases of children ingesting products and presenting “serious adverse reactions.”

Biden picks Harris as running mate, analysts hopeful

On Tuesday (August 11), Joe Biden made official the selection of Senator Kamala Harris as his vice president in the upcoming US presidential election. The decision led to a moderate opinion from Wall Street about the impact this could have for cannabis reform in the country.

A MarketWatch report indicates that Jaret Seiberg, an analyst at Cowen Washington Research Group, sees the Harris pick as “modestly positive for cannabis as she is an advocate for legalization.”

Seiberg’s trepidation is rooted in the fact he already expected Biden to work on reform at some point later on if he wins the presidency. “So she would be a voice for legalization within the Biden administration if he wins in November. That is positive, but Team Biden already was going to sign whatever legalization measure Congress could deliver,” Seiberg wrote in his note.

Cannabis company news

  • Khiron Life Sciences (TSXV:KHRN,OTCQX:KHRNF) announced its Kuida CBD cosmeceutical brand will become available in the Asia Pacific market thanks to a partnership with DNO Group. The initial launch will be in Hong Kong by Q4 2020, according to Khiron.
  • The Supreme Cannabis Company (TSX:FIRE,OTCQX:SPRWF) confirmed it will no longer have a consulting services agreement partnership with Khalifa Kush Enterprises Canada. “The Company determined that the value of the agreement was negatively impacted by current Health Canada direction,” Supreme Cannabis told investors.
  • PharmaCielo (TSXV:PCLO,OTCQX:PCLOF) secured an external cultivation contract in Colombia as it attempts to meet the demand of medicinal cannabis extracts. The partnership was awarded to Tahami & Cultiflores, a company “led by” PharmaCielo co-founder, former executive and director Federico Cock-Correa.

Don’t forget to follow us @INN_Cannabis for real-time updates!

Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: Khiron Life Sciences is a client of the Investing News Network. This article is not paid-for content.

Trulieve to donate $20,000 in scholarship funding and $15,000 to support leadership development

Trulieve Cannabis Corp . (CSE: TRUL) (OTC: TCNNF), a leading and top-performing cannabis company in the United States today announced a new partnership with the Thurgood Marshall College Fund (TMCF), the nation’s largest organization exclusively representing the Black College Community. Trulieve will donate $20,000 to help fund several college scholarships awarded to students who are attending one of the organization’s member-schools as part of Trulieve’s diversity, equity, and inclusion initiatives. The $15,000 in talent funding is earmarked to support TMCF’s internship program, reaching a diverse talent pool of students and alumni from their 47 member-schools to provide immersive experiences at Trulieve.

Keep reading... Show less

The new dispensary expands patient access to Florida’s largest inventory of medical cannabis products

Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) (“Trulieve” or “the Company”), a leading and top-performing cannabis company based in the United States announced today the opening of a brand-new Florida dispensary, the Company’s 80th nationwide. The new location marks the Company’s first in Tamarac and third in Broward County expanding patient access to Florida’s largest and broadest assortment of high-quality medical cannabis products.

Keep reading... Show less

Revive Therapeutics Ltd. (“Revive” or the “Company”) (CSE: RVV, USA: RVVTF), a specialty life sciences company focused on the research and development of therapeutics for medical needs and rare disorders, is pleased to announce an update on the Company’s U.S. Food & Drug Administration (“FDA”) Phase 3 clinical trial (the “Study”) to evaluate the safety and efficacy of Bucillamine in patients with mild to moderate COVID-19.

With its recent $23 million dollar financing, the Company plans to aggressively expand from 14 clinical sites to up to 50 clinical sites to meet the next enrollment goals for the Study in Q2-2020. The Study is a randomized, double-blinded, placebo-controlled trial and the safety and efficacy data analyzed at each interim analysis timepoint of 210, 400, 600 and 800 completed patients are only made available to the Independent Data and Safety Monitoring Board (“DSMB”) for review and recommendations on continuation, stopping or changes to the conduct of the Study. In the event of any serious safety concerns, the DSMB would be notified to determine any risks and provide its recommendations. To date, in this initial 210 interim point there have been no serious safety concerns that required the DSMB to be notified.

Keep reading... Show less

HempFusion Wellness Inc. (TSX:CBD.U) (OTCQX:CBDHF) (FWB:8OO) (“HempFusion” or the “Company”), a leading health and wellness CBD company utilizing the power of whole-food hemp nutrition, is pleased to announce that its common shares have been approved for DTC full-service eligibility in the United States by the Depository Trust Company (“DTC”) and can now be both traded and serviced through DTC’s electronic book-entry system.

DTC is a subsidiary of the Depository Trust & Clearing Corp. (“DTCC”) that provides clearing and settlement services for the financial markets and settles the majority of securities transactions in the United States. This electronic method of clearing securities speeds up the receipt of stock and cash and thus accelerates the settlement process for investors and brokers, enabling the stock to be traded over a much wider selection of brokerage firms.

Keep reading... Show less

CFN Enterprises Inc. (OTCQB: CNFN) (CFN Media) partners with FMW Media Works LLC to produce a regular series on the global cannabis markets to air on major financial news networks across the US. Initial segment features leading cannabis analyst and US Multi-State Operator (MSO)

CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the leading media network dedicated to the global legal cannabis, CBD and psychedelics industries, today announced that its inaugural news segment on the cannabis markets, “Cannabis Market Outlook for 2021,” will air on Bloomberg, Newsmax and Fox Business.

Keep reading... Show less