This week at StratCann, we looked into the wholesale market’s shift from a buyer’s market to a seller’s one, helped along by an increasing amount of higher-quality Canadian weed being shipped abroad.
Meanwhile, several provinces shared their most recent quarterly report, showing sales increasing in British Columbia, New Brunswick, and Nova Scotia. However, new figures from Stats Canada show retail sales across the country declining in 2024.
The Edmonton Fringe Fest has an outdoor cannabis consumption lounge where attendees can order and enjoy cannabis edibles and beverages, and the OCS has finally launched their new data program for producers.
The OPP raided at least two unlicensed cannabis stores.
In other cannabis news
Cannabis store the Friendly Stranger Cannabis in Ontario was broken into overnight on Tuesday, August 13, with thieves taking around $2,300 worth of products. Five Points Cannabis in Calgary was also broken into this past week.
Atheneum Cannabis Corp., a cannabis retailer in Princeton, BC received a $7,000 fine for selling cannabis to a minor during a provincial inspection.
Jen Meyers from Zelca penned an opinion piece on the state of the industry calling for more rigorous testing requirements and oversight from Health Canada, and Greenway Greenhouses spoke with Proactive Investors about their approach to the market.
Final Bell Holdings International announced a further extension of Rights Offering to September 5, 2024, in order to allow shareholders sufficient time to fulfill their commitments. The deadline for shareholders that are residents outside of Canada to establish that they are eligible to participate has been extended to August 30, 2024.
International cannabis news
A Canadian woman who smuggled 17 kg of cannabis into Bermuda will be sentenced next month. Mara Faiazza, 24, brought the drugs into the island on a flight from Toronto on May 19.
A 21-year-old woman from Calgary has appeared in court after being charged with attempting to import 36 kg of cannabis into Belfast, according to police. She was questioned after being transferred off a flight from Calgary in London and charged with importing controlled drugs and supplying controlled drugs.
Australian cannabis producer Cannim wants to process cannabis at a Lasalle Line greenhouse in Ontario. The company already has a license to grow at the former site of Tilray’s High Park Farms, but the city has a bylaw that prohibits cannabis processing.
And finally, California cannabis producer Glass House Farms plans to appeal a recent recall of an SKU of pre-rolls for the presence of Aspergillus flavus.
