One of the most anticipated promises of cannabis legalization in Canada is the potential for brand-new consumers to join the space and broaden the market available. Now a new study shows that may not be entirely the case.

Statistics Canada, the data research arm of the Canadian government, issued a report last week (April 18) announcing the results of a national cannabis survey on the first quarter of 2018.

Among its top findings, the government said nearly 80 percent of Canadians polled are not contemplating trying cannabis for non-medical purposes, or are not planning to increase the amount they consume if they have already consumed.

Consumer patterns tracked during Q1 2018

According to the data collected, over half of 4.2 million Canadians consume some form of cannabis on a daily or weekly basis.

Six percent of Canadians who said they had not consumed cannabis in the past three months said they “would likely try” it.

The study found over 20 percent of the surveyed population spent over C$250 on cannabis products. Over 30 percent also said they did not spend any amount on these products over the last three months.

However, this may relate to the fact that, according to the study, 31 percent of the respondents claim to have gained access to cannabis thanks to a family member or a friend. Only one in seven from the polled Canadians are said to have obtained their products through a licensed producer.

“When asked if their purchasing [behaviors] might change with the legalization of cannabis, half of the consumers said they would change their source of supply,” the report states.

Canadian agency will continue collecting data

From the data collected by Stats Canada, dried flower still dominates the market in terms of reported consumed product.

Oil cartridges and vape pens are lumped together into their own category at the third spot of products used by cannabis consumers this past quarter, tied with Hashish.

According to a chart in the study, the province with the highest percentage use of cannabis in the past three months is Nova Scotia closely followed by Alberta, BC and Manitoba all with the same percentage.

Stats Canada has indicated that this study will be updated each quarter of the year.

Don’t forget to follow us @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.

CanBud Distribution Corporation (CSE: CBDX) (FSE: CD0) (“CanBud” or the “Corporation”) is pleased to announce that it has closed the final tranche of its oversubscribed non-brokered private placement for aggregate gross proceeds of approximately $4,730,000 (the “Offering”).

The Corporation issued a combined total of 39,409,346 units (each a “Unit“) at price of $0.12 per Unit, with each Unit comprised of one common share in the capital of the Corporation (each a “Common Share“) and one common share purchase warrant (each a “Warrant“). Each Warrant entitles the holder to purchase one additional Common Share at an exercise price of $0.22 within 24 months of the closing of the Offering (the “Warrant Term“), provided, however that if the closing price of the Common Shares on the Canadian Securities Exchange (the “CSE“) (or any such other stock exchange in Canada as the Common Shares may trade at the applicable time) is $0.25 or greater per Common Share for a period of five (5) consecutive trading days at any time after the closing date of the Offering, the Corporation may accelerate the Warrant Term such that the Warrants shall expire on the date which is 30 days following the date a press release is issued by the Corporation announcing the reduced warrant terms.

Keep reading... Show less

Thoughtful Brands Inc. (CSE:TBI)(FSE:1WZ1)(OTCQB:PEMTF) (the “Company” or “Thoughtful Brands) announces that the letter of intent with Franchise Cannabis Corp. (“FCC”), previously announced in January, has been terminated. The previously announced European joint venture with FCC will continue and allow the Company to launch and tailor its products to European consumer demands

In connection with termination of the merger transaction with FCC, the Company has agreed to pay FCC $100,000 in cash and to issue FCC 5,000,000 common shares of the Company at a deemed value of $0.05 per share. The common shares will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities laws.

Keep reading... Show less

Mergers and acquisitions (M&A) in cannabis space have helped boost the industry to new levels.

Keep reading... Show less

Strategic sale of non-core assets by Lobe adds non-dilutive capital and shareholder value

Lobe Sciences Ltd. (CSE: LOBE) (OTC Pink: GTSIF) (“Lobe” or the “Company”) is pleased to announce, further to its press release dated February 23, 2021, that it has completed the sale to Ionic Brands Corp. (“Ionic Brands”) of Lobe’s non-core cannabis assets relating to Washington-based Cowlitz County Cannabis Cultivation Inc. (“Cowlitz”) held by Lobe’s subsidiary vendor, Green Star Biosciences Inc. (the “Transaction”).

Keep reading... Show less

Adding to its existing presence on the west coast of the United States, all five KOIOS™ flavours and all four Fit Soda™ flavours will be carried in Metropolitan Market stores beginning on Monday, March 22, 2021. Serving the Seattle-Tacoma area (population 3.87 million), Metropolitan Market is one of five chains under its parent firm Good Food Holdings, which has a total of 51 stores in California, Oregon, and Washington State.

Koios Beverage Corp. (CSE: KBEV; OTC: KBEVF) (the “Company” or “Koios”) is pleased to announce that beginning on Monday, March 22, 2021, Koios’ entire line of canned beverage products will be sold at all locations of Metropolitan Market, an urban format supermarket chain in the Seattle-Tacoma area of Washington State. In Q1 2021, the Company announced multiple placements of its beverage products with regional grocers in markets on the west coast of the United States including Market of Choice in Oregon Jensen’s in Southern California and major natural grocery chain Sprouts Farmers Market which has a substantial west coast presence with over one third of its locations (360+ stores across 23 states) in California as well as Washington State 1 . The Company has also recently announced other developments relating to its expansion efforts being undertaken in 2021 such as an in-house beverage canning facility and distribution agreements with regional and national wholesale partners.

Keep reading... Show less