Week in Weed – May 18, 2024

| Staff

This past week at StratCann, we looked at a new report from the OCS highlighting 2023 sales data in Canada’s largest province, the latest figures from Health Canada showing a continued decline in participation in the federal medical cannabis access channels, and the complexities of handling cannabis exports.

We also looked into two new minor regulatory changes: one in Alberta, where the AGLC is making changes to retail secure storage requirements, “simulated or actual mixing” of cannabis, and more; and one in BC, where the LDB will be making changes to how long they will hold older products before returning to the vendor. 

In financial news, we looked at new quarterly reports from Auxly, Organigram, MediPharm Labs, Delta 9, and Rubicon Organics.  

Lastly, we featured BC’s Island Genetics in our ongoing company profile series, with special thanks to cannabis nursery Life Cycle Botanics. 

In other cannabis news this past week

CTV News in Saskatchewan continued their coverage of efforts to increase THC testing among drivers in the province and the questions about the accuracy of said tests to determine impairment.

Police in Ottawa say they are stepping up enforcement against impaired drivers, including cannabis-impaired drivers

Bella Bella Investment Group Ltd’s application for a cannabis facility on Annacis Island in BC has been withdrawn

A US company, Ombra Group Inc., is developing a THC breathalyzer and working on clinical trials in Canada.

Aurora Cannabis announced the appointment of Rajesh Uttamchandani to the Company’s Board of Directors.

David Suzuki published a very broad general-interest opinion piece on Hemp at Rabble.

International cannabis news

The US Justice Department has formally moved to reclassify cannabis as a less dangerous substance. The formal rule proposal to the federal register begins a lengthy approval process, beginning with a 60-day public comment period before the change can take effect.

“This is monumental,” Biden said in a video posted to Twitter about the reclassification, which was first reported prior to the announcement by POLITICO. “Today, my administration took a major step to reclassify marijuana from a Schedule 1 drug to a Schedule 3 drug.”

Cannabis stocks also enjoyed another brief rally on the heels of this announcement.

Lastly, The Conversation asked the question: “How can we measure the size of Australia’s illegal cannabis market – and the billions in taxes that might flow from legalizing it?”