Nearly 100 years after the start of prohibition, the next chapter in Canada’s cannabis story kicks off in October 2018 with the nationwide legalization of adult-use marijuana.
The country will only be the second in the world, behind Uruguay, to allow for both medical and recreational cannabis consumption. However, Canada reigns supreme in the emerging global cannabis market. In this next phase of legal cannabis, Canada’s established licensed producers (LPs) are expected to have a first-mover advantage both at home and abroad.
History of Canada’s path to legalization
Marijuana was declared illegal in Canada in 1923 when it was lumped together with cocaine, opium and morphine. The experimental vibe of the 1960s brought cannabis culture to the forefront of Canadian society, leading the Canadian government to form a commission headed by future Supreme Court Justice Gerald LeDain to investigate the role of government and law in regulating the use and distribution of non-medical cannabis. In its final 1973 report, the commission recommended decriminalizing the non-medical use of cannabis.
While it may have taken nearly half a century for the recommendations of the LeDain Commission to finally materialize into law, the country has made game-changing progress in the less than two decades since the Ontario Court of Appeal rendered cannabis prohibition unconstitutional. The claimant under that case had been using cannabis to control his epileptic seizures — the court ruled he had a right to cannabis as a medical treatment, paving the way for the Marijuana Medical Access Regulations (MMAR) enacted by Health Canada in 2001.
Under the MMAR, Canadians could become licensed for the possession of dried marijuana for their own medical use, and could cultivate cannabis themselves or purchase it from a LP. The revised legislation under the 2013 Marijuana for Medical Purposes Regulations (MMPR) and the later 2016 Access to Cannabis for Medical Purposes Regulations (ACMPR) further pushed the country down the path toward a commercialized cannabis market by creating an industry of LPs and medical marijuana distributors.
Next chapter in Canadian cannabis: Technological innovation and global domination
Now that the shackles are off, the industry is free to advance both in terms of clinical research and technological innovation, from cultivation practises to cannabinoid delivery systems. Thus, setting the stage for Canada to become a leader in the burgeoning global cannabis market.
Most agricultural crops are grown outdoors — think Iowa’s cornfields, Saskatchewan’s wheat fields or Napa Valley’s vineyards. Not so with today’s cannabis. Reagan’s “war on drugs” in the 1980s, which incidentally had an impact on Canada’s drug laws as well, pushed cannabis production indoors, away from the probing eye of federal law enforcement. Modern indoor cannabis cultivation is the culmination of those decades of technological innovation, which led to the science of a controlled environment for high-yield, top-quality cannabis production.
This ability to control every dimension of the growing process (from temperature to light intensity to optimal nutrients levels) is most important to the medical cannabis market, which demands reliable and consistent dosing for both patients and clinical research studies. With cannabis now fully legal, cultivators will have the freedom to continue making advancements in plant-growing technologies and methods. In fact, technologies, such as hydroponics, aeroponics and vertical farming are revolutionizing the cannabis industry.
Both hydroponic and aeroponic grow operations involve growing plants without soil, resulting in healthier, higher-yield cannabis production with excellent cannabinoid and terpene profiles, while cutting both the price tag and the environmental footprint of water-intensive soil farming. In a hydroponic system, cannabis plants are grown in nutrient-rich water in sand or gravel; cannabis grown aeroponically requires no growing medium at all.
“This is a pharmaceutical-grade process for producing medical cannabis, resulting in some of the cleanest and most consistent product available,” Adam Woodworth, COO and chief cultivator of Canada-based LP James E. Wagner Cultivation (TSXV:JWCA), told INN. “By improving quality and reducing cost, aeroponics easily demonstrates its value as a large-scale production methodology.”
Woodworth and his family have a longtime tradition of cannabis cultivation experience and James E. Wagner was one of the first companies to receive a cultivation license under the MMAR. The company’s proprietary growing methodology, GrowthStorm™, incorporates aeroponic technology with its decades of research and cultivation experience. James E. Wagner has partnered with PRICE Industries on a research study to evaluate the ability of PRICE’s GRW horticultural environmental control units to optimize growth potential and harvest yield.
Canadian medical LPs first-mover advantage
Technological advancements and years of cultivation experience are already shaping the next chapter of Canadian cannabis history, and placing the country’s LPs ahead of their peers in the emerging global cannabis market.
“Canada has the opportunity to move forward as international leaders in the cannabis industry,” said Woodworth, whose company has also partnered with Canopy Growth (TSX:WEED) to access the cannabis giant’s wealth of genetic material, as well as established distribution and sales infrastructure. “The systems being created, the technologies being developed and the culture that is unfolding will play a vital role in defining the future of cannabis on the world stage.”
Nations around the world are beginning to understand the health benefits of cannabis, and clinical research is opening up the therapeutic potential of cannabis across a wide range of ailments, from epilepsy to pain management to anxiety and depression.
With more and more governments legalizing marijuana for medical use, the global medical cannabis market is expected to reach $55.8 billion by 2025. The number of countries allowing imports of Canada-grown cannabis products has risen in the past year to include New Zealand, Australia, Germany, the Czech Republic, Chile, Brazil and Croatia. “More European Union countries will create new medical cannabis laws and expand the export market for Canadian LPs,” said PI Financial analyst Jason Zandberg. “Currently 12 of the 28 EU members have a medical cannabis program.”
With the US cannabis market still under the shadow of a Jeff Sessions-controlled Department of Justice, Canada’s LPs have first-mover advantage and a significant head start in the race to dominate on an early stage growth market free from competitors.
Under the new Cannabis Act, Canada will only allow its medical LPs to export their products, which givers further first-mover advantage to Canada’s longtime medical LPs. These companies, which have matured under Canada’s medical cannabis industry, will have first-mover advantage in the new recreational space as well; especially those that have already been able to establish strong brand recognition, perfect unique growing systems to develop premium product portfolios and have secured strong international partnerships for expansion both domestically and overseas.
This article was written according to INN editorial standards to educate investors.
Ayurcann Holdings Corp. (CSE: AYUR) (the “Company” or “Ayurcann”) an integrated Canadian extraction company specializing in the processing of cannabis and hemp for the production of oils and various derivative products, announces the granting of stock options and restricted share units.
The Company has announced that it has granted incentive stock options to directors, officers, employees and consultants of the Company to purchase an aggregate of 1,000,100 common shares under the Company’s Stock Option Plan. Each option is exercisable at a price of $0.16 per common share, expires three years from the date of grant and vest six months from the date of the grant.
The Company has also granted restricted share unit grants, pursuant to the Company’s Restricted Share Unit plan, dated April 1, 2021, totaling 1,548,875 to certain eligible participants.
For further information, please contact:
Igal Sudman, Chairman, Chief Executive Officer and Corporate Secretary
Ayurcann Holdings Corp.
About Ayurcann Holdings Corp.:
Ayurcann is a leading post-harvest solution provider with a focus on providing and creating custom processes and pharma grade products for the adult use and medical cannabis industry in Canada. Ayurcann is focused on becoming the partner of choice for leading Canadian cannabis brands by providing best-in-class, proprietary services including ethanol extraction, formulation, product development and custom manufacturing.
Neither the Canadian Securities Exchange nor its Regulation Services Provider have reviewed or accept responsibility for the adequacy or accuracy of this release.
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A planned business merger between two leading cannabis producers hit a small delay this week as a critical vote got moved.
Keep reading to find out more cannabis highlights from the past five days.
Tilray delays critical shareholder meeting
On Thursday (April 15), Tilray (NASDAQ:TLRY) announced it will be postponing its shareholder vote on the fate of its merger with Aphria (NASDAQ:APHA,TSX:APHA). It will take place on April 30 instead of April 16.
Neither cannabis company offered an explanation for the change. Tilray has asked shareholders to participate in this vote regardless of how many shares they may hold. “Tilray stockholders who have not already voted, or wish to change their vote, are strongly encouraged to do so,” the company said.
This news came days after Aphria shareholders overwhelmingly voted in favor of the business transaction, with a total of 99.38 percent of shareholders voting for the deal to continue. Confirmation from Aphria Chairman and CEO Irwin Simon indicated the partnership was en route to being complete.
This past week Aphria also released financial results for the third quarter of its 2021 fiscal year, in which the firm highlights the overall direction of the company with the Tilray deal.
“We expect to have a tremendous runway for long-term sustainable growth as we build upon our existing foundation in Canada and internationally by increasing the scale of our global operations,” Simon said in a statement.
Cannabis retailer celebrates digital trend
Bidding for the piece, named “Non-Fungible Toke“ started at a price of C$4.20. The retailer plans to donate the proceeds to two charities, Second Harvest and Less.
The latter is designed to counter the carbon footprint of blockchain technology, a common criticism drawn against the rise of NFTs and other novel technologies.
As of 11:00 a.m. EST on Friday (April 16), the NFT bid was up to C$169.11.
Cannabis company news
- The Valens Company (TSX:VLNS,OTCQX:VLNCF) issued its financial report for the first quarter of its 2021 fiscal year. In its results, the company highlights a net revenue uptick of 24.7 percent from the previous quarter, resulting in C$20 million for the period.
- Trulieve Cannabis (CSE:TRUL,OTCQX:TCNNF) closed a public offering of 5 million subordinate voting shares at a price of C$50 each for total gross proceeds of C$287.5 million. The company celebrated its financial position after an offering in January, which will lead to the pursuit of merger and acquisition targets.
- Australis Capital (CSE:AUSA,OTCQB:AUSAF) appointed Jason Dyck as its new chief science officer and chairman of the firm’s scientific advisory board. Dyck previously served as an executive at Aurora Cannabis (NASDAQ:ACB,TSX:ACB), leading the scientific efforts for the cannabis producer. “I look forward to providing AUSA with advice and direction in its scientific efforts towards bringing innovations to market with immediate and significant commercial appeal,” Dyck said.
- Truss Beverage, a cannabis drinks venture co-owned by Molson Coors Beverage Company (NYSE:TAP,TSX:TPX) and HEXO (NYSE:HEXO,TSX:HEXO), released the details of its new lineup of infused beverages. Six new drinks will become available around the summer and are intended to pair with the season.
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.
Partnerships with Minardi Law , Minorities for Medical Marijuana, CultivatED, and the Georgia Justice Project will include clinics and virtual events across Florida , Georgia , and Massachusetts
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 a series of expungment clinics located throughout south and central Florida as well as virtual events in Georgia and Massachusetts . The clinics are part of the Company’s celebration of the 50 th anniversary of 420.
During the month of April, Minardi Law has hosted expungment clinics and will be hosting two more as follows:
- Releaf Patient Appreciation Day, April 17 th ( Valrico )
- First Annual 4/20 Event ( St. Petersburg Beach )
At these clinics, an attorney will be present to review records and see if someone is eligible for a sealing or expungment of their records. As part of the events, Trulieve will be helping cover the costs for finger prints, legal fees, and court costs.
Trulieve is working with Minorities for Medical Marijuana (“M4MM”) to host a 4/20 Expungement Clinic, part of M4MM’s Project Clean Slate. This event will take place on Saturday, April 24, 2021 , from 9:30am – 4:30pm at Riviera Beach City Hall. Anyone seeking to take place in this event is required to register in advance at http://trulieve.cc/expungementpreregistration .
In addition, Trulieve is sponsoring the First Friday Series , a weekly virtual event from the Georgia Justice Project to help Georgia citizens with record restrictions, and is also sponsoring the Fellowship Presentation and Expungement Clinic being offered through CultivateEd and GBLS on Friday, April 23 from 3:00pm – 4:00pm . You can register for the Massachusetts expungement clinic in advance here: HTTPS://BIT.LY/2Q655KK
“Our mission as a company has always been to improve people’s lives,” said Trulieve CEO Kim Rivers . “We’ve always been dedicated to improving the communities we call home. Partnering with Minardi Law , Minorities for Medical Marijuana, Georgia Justice Project and CultivatED on these clinics was a simple decision for us; we encourage anyone seeking help with the expungement process to attend one of these clinics in your own state to start the process.”
For more information about Trulieve and the April expungment clinics, please visit www.Trulieve.com .
Trulieve is primarily a vertically integrated “seed-to-sale” company in the U.S. and is the first and largest fully licensed medical cannabis company in the State of Florida . Trulieve cultivates and produces all of its products in-house and distributes those products to Trulieve-branded stores (dispensaries) throughout the State of Florida , as well as directly to patients via home delivery. Trulieve also has operations in California , Massachusetts , Connecticut and Pennsylvania. Trulieve is listed on the Canadian Securities Exchange under the symbol TRUL and trades on the OTCQX market under the symbol TCNNF.
To learn more about Trulieve, visit www.Trulieve.com .
SOURCE Trulieve Cannabis Corp.
News Provided by PR Newswire via QuoteMedia
Seth Rogen’s New Cannabis Brand are Now Available at Apothecarium Dispensaries in San Francisco , Berkeley and Capitola
The Apothecarium is offering cannabis from Houseplant, the cannabis lifestyle brand founded by Seth Rogen and Evan Goldberg at its five California dispensaries. The Apothecarium has three San Francisco locations (Castro, SOMA and Marina ) and one each in Berkeley and Capitola (outside of Santa Cruz ).
“With the vast number of dispensaries in California , we put a lot of effort into identifying the right ones that align with Houseplant’s values,” said Seth Rogen , Co-Founder of Houseplant. “The Apothecarium shares the same commitment to creating a strong consumer experience that we pride ourselves on and we are thrilled to bring our three initial strains to their stores in the Bay Area.”
Houseplant is launching with three flower strains, all of which will be available at The Apothecarium, including: Diablo Wind (sativa), Pancake Ice (sativa) and Pink Moon (indica). Like their founder’s groundbreaking film “Pineapple Express”, Houseplant strains are named after weather phenomena. Each strain will be sold in a custom tin.
“We are so proud to be one of the very first dispensaries in California to offer Houseplant to our customers,” said Ryan Hudson , CEO and co-founder of The Apothecarium. “Seth, Evan and everyone at Houseplant love and respect cannabis as much as we do. We simply cannot wait to share their beautiful and delicious flowers with our guests.”
“We’ve been working with the Houseplant team for more than a year and are grateful to have a partner that shares so many of our values, including an emphasis on cannabis education, quality, reform of cannabis laws and beautifully designed, recyclable packaging.”
“Seth has been hands-on during the process, spending time with our store managers to make sure they know the products and how much care has gone into vetting and selecting the best strains. We think our guests are going to love Houseplant.”
About The Apothecarium
The Apothecarium is recognized as one of the nation’s premier cannabis dispensaries, with an emphasis on education via in-depth one-on-one consultations from highly trained cannabis consultants. The company was founded by three first cousins and two family friends in 2011. Our dispensaries are known for providing educational events that are open to the public at no cost — and for welcoming seniors, first-time dispensary visitors, and people with serious medical conditions. The Apothecarium’s flagship San Francisco dispensary was named the best-designed dispensary in the country by Architectural Digest . Patients and customers may order at our dispensaries or online for pickup or delivery at apothecarium.com [apothecarium.com] .
The Apothecarium is committed to giving back to the communities we serve. We have donated more than $400,000 in cash to community groups and nonprofits — plus more than $300,000 worth of in-kind donations.
All Apothecarium dispensaries continue to implement safety measures to protect guests and team members. Protocols include strict social distancing inside and outside the dispensaries, a mask requirement for everyone inside the dispensaries, no contact check-in procedures and ongoing sanitizing throughout the day.
CA Licenses: C10-0000523-LIC; C10-0000522-LIC; C10-0000515-LIC, C10-0000738-LIC, C10-0000706-LIC
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MISSISSAUGA, Ontario TheNewswire – April 16, 2021 Sire Bioscience Inc. (CSE:SIRE) (OTC:BLLXF) (FSE:BR1B) (CNSX:SIRE.CN) (“SIRE” or the “Company”) announces that Brian Nugent has resigned as a member of the Company’s board of directors (the “ Board ”). It has been a pleasure and a blessing to have worked with Brian Nugent over the past few years, his business acumen and tremendous experience will certainly be missed, SIRE wishes him nothing but the best in all his future endeavors.
About Sire Bioscience
SIRE is headquartered in Mississauga, Ontario with its wholly owned subsidiary PLANTFUEL® based in Denver, Colorado. SIRE is managed by a group of successful entrepreneurs who have extensive experience in the areas of consumer-packaged goods, manufacturing, logistics, and distribution. SIRE is a CPG life science company focused on the plant-based foods and supplements industry.
For additional information contact:
Sire Bioscience Inc.
Copyright (c) 2021 TheNewswire – All rights reserved.
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