Vancouver’s “Activist credit union” CCEC, one of the last financial institutions willing to work with unlicensed cannabis organizations, has been forced under threat of FINTRAC and money-laundering legislation to cease supporting those companies.
Inside the Jar
Security checks are stressful for people whose cannabis expertise comes directly from breaking prohibition laws. BC grower Travis Lane explained his fear that in spite of following license application rules to the letter, he may still be considered a security risk.
A micro-cultivation consultant wrote a Twitter thread comparing the pros of ordering unlicensed cannabis (variety, speed, delivery) to the cons of buying legally (no store in his town, multi-day delay on online orders).
7Acres founder and former Supreme CEO John Fowler warned the industry, “The worst is yet to come. I believe there’s still a lot of pain to come for many, but those who survive will thrive in a thinned herd.”
- Brazen Toronto scofflaw dispensary CAFÉ distributed a press release boasting it “contributed over $350,000 in 2019 to local community initiatives.” Some believe the company’s owners want to sell its assets and name.
NewsWire, Twitter—Overgrown Empire
- During a traffic stop in Kenora, Ontario Provincial Police arrested a 72-year-old man carrying roughly 50 pounds of cannabis. They charged him and seized his vehicle.
Kenora Miner & News