Cannabis sales were up in March, after two declines in January and February. For the first month since legalization, REC sales barely cracked $60M, beating December’s previous high of $57.3M.
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Quick Hits
- A majority of the venture and private equity investment in cannabis since 2013 has been in US companies, with Canadian companies involved in fewer than 25% of deals. And because Canada’s market is both smaller and far more regulated than the US, the trend of funds shifting from Canada to the U.S. is likely to accelerate, some analysts say.
Bloomberg, MJ Biz Daily - Health Canada reported the number of companies in the queue for federal license applications has been cut in half since the beginning of 2019.
MJ Biz Daily - Vindica Cannabis Corporation reported via Twitter that Health Canada may accept security-clearance approvals before license-application submissions, which is one of the issues insiders raised after Health Canada changed its application process several weeks ago. Security clearances are arduous and time-consuming, and, Vindica reported, “Many have reached out not wanting to spend time and money on [an application] with personnel who may not pass security clearance.”
- Grow Tech Labs’ CEO Barinder Rasode noted, “The most questions or concerns I hear from those who are considering using cannabis is dosing.” She was responding to an article about the demand for precision-dosed REC.
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