The Canadian cannabis industry is abuzz as the opening of the legalized recreational market is just days away. This major milestone for the evolving space will make Canada the second country in the world to make such a step, and has attracted attention from large corporations from across industry lines. The upcoming change, while exciting, doesn’t come without concerns for companies that have established a foothold in the Canadian market.
In a recent article, major US broadcaster CNBC, reported an overview of the Canadian market as it compares to legalization in a handful of US states, and outlined how companies in the northern country are preparing for October 17. The article quotes Auxly Cannabis Group (TSXV:XLY) CEO Chuck Rifici regarding his concerns on supply vs. demand in the first year of legalization. “Certain provinces and different jurisdictions across the country will have different levels of preparedness for retail,” he said. “I think we will see empty store shelves, because we’ve seen that in every other place in the world that has legalization — a lack of product in the first year. Producers across the country are ramping up production, but I think it will be a while to catch up.”
Auxly has invested in numerous cannabis companies across the supply chain, including FSD Pharma Inc. (CSE:HUGE,OTCQB:FSDDF,FRA:OK9) subsidiary, FV Pharma. FSD Pharma director, Anthony Durkacz, also spoke to CNBC, claiming that despite the volatility in the market, cannabis investments are still sound. He also spoke to the value of legalization in Canada.
“Hopefully we can show America and the rest of the world that legalization is the right thing to do,” he said. “I think it’s important to put the money back into the people’s hands. The government will generate a lot of taxes and revenue and add a tremendous amount of jobs, especially in small-town America. It’s important the rest of the world gets to see this and hopefully follows Canada’s lead.”
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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.
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.
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.
BioHarvest Sciences Inc. Unveils the Unique Polyphenolic Content of Its Upcoming Olive-Based Nutraceutical
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.
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).