This past week at StratCann, we noted that the Canada Revenue Agency has written off nearly $5 million worth of excise tax on cannabis as uncollectible as of September 21, 2024, while a chain of cannabis stores in Ontario received a $100,000 fine for “data deals”.
We also looked at how the cannabis industry is taking steps to manage the Canada Post strike and new proposed legislation in Ontario that would impose new penalties for advertising and promoting illegal cannabis. From the debate of that legislation, we also learned that the Atikameksheng Anishnawbek First Nation is seeking negotiations with Ontario on retail cannabis.
Monthly retail cannabis sales in Canada continue to hold under the $500 million mark, and the AGLC in Alberta released their 2023-2024 annual report, including $673.5 million in cannabis sales.
Cannabis NB has again launched its Good To Know cannabis awareness campaign.
In finance news, The Hash Co completed an asset transfer and name change, and Simply Solventless released their Q3 2024 report, as did Decibel Cannabis and Herbal Dispatch.
Meanwhile, Quebec cannabis business QcGoldtech, connected to former Montreal police chief Yvan Delorme, owes more than half a million dollars in unpaid taxes, and Noya Holdings is seeking approval of a $3.8 million stalking horse deal and an extension of stay of proceedings.
In law enforcement news, police in Kingston, Ontario, raided an unlicensed cannabis store for the second time in a week, while the OPP shut down an illegal pot shop in Leamington.
Two Chinese nationals in the UK were jailed for importing cannabis from Canada in a “significant criminal enterprise”.
Police in Quebec seized hash, cannabis, kief and equipment; police in Calgary needed help identifying a suspect related to cannabis store robberies in Edmonton and Calgary; and the BC government is seeking forfeiture proceedings for six properties they say are connected to illicit cannabis sales.
In other cannabis news
The Gaspésie-Magdalen Islands video journal spoke with Stéphane Daigle, president of Cultures Seaweed in Carleton-sur-Mer in the Gaspésie region of Quebec, north of New Brunswick. The interview is available here.
One of the cannabis retail applicants in Surrey, BC, for the Cloverdale location, 137 Brands, was replaced with “UEM Cannabis” with a proposed location of #100 5828 176 Street.
InfoTel ran a story on the Cannabis Cottages, the outdoor cannabis consumption space in Penticton, BC.
Québec’s updated Economic and Financial Situation for Fall 2024 includes a projection of $379 million in revenue from the SQDC for 2024-2027.
High Tide Inc. announced that its new Canna Cabana location in Hamilton, Ontario, would open this past week. This opening will mark High Tide’s 187th Canna Cabana branded retail cannabis location in Canada, the 73rd in the province of Ontario, and the third in the city of Hamilton.
Tilray announced the launch of its 2024 Holiday Cannabis Gift Guide.
Pure Sunfarms Corp. launched its Super Toast All-In-One Vape.
Aurora Cannabis Inc. announced several new products from its Greybeard, San Rafael ’71, and Tasty’s brands.
Canopy Growth Corporation announced an exclusive licensing agreement for the launch of infused pre-rolls from the California brand Claybourne in the Canadian market. According to Canopy’s data, the pre-roll joint market in Canada has grown 94% since 2022, with infused pre-rolls now totalling 9.6% of the total recreational market.
The Kahnawake Cannabis Control Board (KCCB) set a loose timeline for retail sales of cannabis to begin in the community while it says it’s planning to issue dispensary licences by the end of the year, according to the KCCB’s interim operations manager.
Four sources in Kanesatake (Quebec) say they heard shots fired outside the Sweet Grass Lodge around 5:30 a.m. on Thursday. Sûreté du Québec and the business owner deny there were any shots fired. Store owner Normand Théoret is one of 17 people on trial for his alleged role in an illegal dumping scheme that contaminated entire sections of the Mohawk territory.
The immediate area has seen an influx of unlicensed cannabis stores over the years, with one local cannabis store owner telling StratCann recently that they were frustrated with outsiders coming to their community to party at some new cannabis stores, two of which were constructed on the allegedly illegally dumped waste brought into the community from off-reserve.
After losing the recent provincial election, New Brunswick’s Conservative Party has named its shadow cabinet, including Kathy Bockus as shadow minister for economic development and small business, NB Liquor and Cannabis, and the Regional Development Corporation. The Croix MLA helped cut the ribbon at the opening of a cannabis farmgate store in the province in 2023.
A new research article looks at cannabis consumption among adults aged 55–65 in Canada from 2018–2021. Cannabis use among this group increased in the first year following legalization and has remained stable since then.
Young adults at risk of psychosis show reduced brain connectivity, a deficit that cannabis use appears to worsen, a new study from McGill University has found. The breakthrough paves the way for psychosis treatments targeting symptoms that current medications miss.
A former cannabis cultivator from Richmond is alleging a BC investment firm founded by his uncle was a “sham” to serve as a “conduit for undisclosed payments” for chosen shareholders — some of whom are implicated in an alleged US$1-billion stock fraud scheme.
In Espanola, Ontario, 12 kilograms of dried cannabis, 140 packages of cannabis gummies, and 50 vape pens were seized in a traffic stop, along with 10 grams of suspected cocaine.
A Moncton judge issued an arrest warrant on Thursday when a man charged with illegally possessing cannabis to distribute didn’t show up in court.
International cannabis news
This month, the US FDA surprised many by authorizing a clinical trial to assess the safety and efficacy of using cannabis to treat military veterans with post-traumatic stress disorder, reported the New York Times.
The Australian Parliament will vote on the Greens’ bill to legalize cannabis on November 27 this year, says Senator David Shoebridge, the sponsor of the bill, more than a year after it was first tabled. It’s not expected to pass.
Germany’s Federal Institute for Drugs and Medical Devices (BfArM) has published the medical cannabis import figures for Q3, showing that the country’s medical cannabis market is still growing rapidly, reports Business of Cannabis.
US Senate Agriculture Chair Debbie Stabenow’s proposed 2024 farm bill would tighten restrictions on intoxicating hemp products without completely prohibiting THC, reports Politico.
Politico’s Natalie Fertig also reports that some in the US cannabis industry are excited by the possibility of Matt Gaetz becoming the US attorney general, who they say is well-informed on and friendly to the cannabis file. The article includes comments from Boris Jordan, CEO of Curaleaf, former GOP Colorado Sen. Cory Gardner, and David Culver of the US Cannabis Council.
But that was short-lived after Gaetz withdrew from the contest. Former Florida Attorney General Pam Bondi is the new pick. She has a track record of not looking favourably upon cannabis legalization efforts or use.
Only one organization supporting cannabis rescheduling in the US will have full standing for the highly anticipated December 2 hearing: the American National Cannabis Industry Association, reports MJBizDaily. Every party that applied to argue against moving cannabis to Schedule 3 has full standing to participate in an upcoming landmark hearing, though.
Finally, Village Farms International, Inc. (the parent company of Pure Sunfarms) and Hemp for Victory announced that they have filed a joint motion which seeks the immediate disqualification and removal of the US Drug Enforcement Administration from defending the Proposed Role to reschedule marijuana from a Schedule I to a Schedule III drug under the Controlled Substances Act. The parties also moved to replace the DEA with the US Department of Justice.
