"We don’t have any specific policies that we’re looking at. This is a true listening exercise," Downey told BNN Bloomberg. "We want to hear what Ontarians have to say on lounges, cafes, that kind of thing."
BNN Bloomberg
He stressed there would be no changes to the existing cannabis framework.
The government is also looking for public feedback about how to prevent edibles overconsumption, as well as how the public feels about packaged edibles and canna-beverages being sold in venues that also sell alcohol.
MJ Biz Daily
This isn't the first time the Ford government has floated public consumption—they previously considered the option in 2018 before withdrawing a request for tenders.
Meanwhile 2.8M Ontarians live in municipalities that opted out of allowing REC retail—largely in Toronto's massive suburbs. Their populations combined add up to that of all Atlantic provinces, or Manitoba plus Saskatchewan.
Global News, Twitter—Patrick Cain
Some municipalities (like Mississauga) are rethinking opting out, others are not. Richmond Hill Mayor Dave Barrow said, "I’m not interested in seeing it in our city. There was a time when there wasn’t a liquor store in Richmond Hill, and you went to the next city."
Twitter—Patrick Cain
Wholesale revenues declined 77% to $2.4M, while EBITDA [earnings before interest, taxes, depreciation, and amortization] loss doubled from $39.7M to $80.2M, quarter over quarter.
Aurora's interim CEO Michael Singer told BNN Bloomberg, "I would never say we made mistakes. The decisions we made in the past made sense at that time, but the market has changed. "
BNN Bloomberg
Singer said there were no plans for any more layoffs, and any capital the company spends needs to show value.
Aurora's products are expensive at a time when consumers want cheaper REC.
MarketWatchTerry Booth explained his departure by saying, "It’s time for more of a button-up CEO, not a growth CEO. […] You really need to have someone with their eye on the ball for positive EBITDA."
BNN Bloomberg
Lamers also puzzled over why the company's 2019 Corporate Objectives state they "exceeded" their production target of 100,000 kg, "But Aurora's annual statement says it only produced 57,442 kg."
Twitter—Matt Lamers
Supreme's shares have declined more than 75% in the past year.
Former Supreme CEO and president John Fowler responded to news of ongoing layoffs at Supreme and other companies by offering to connect potential employees with recruiters and other businesses seeking workers in the sector—and he's continued to do so, seeking jobs for particular experienced workers and referring laid-off workers to media. Others in the field are also passing along news of LPs hiring.
GrowthOp, Twitter—John Fowler, Chris Stone
This announcement adds to the number of cannabis employees laid off in recent weeks. Last week alone, Aurora cut 500 jobs while Tilray cut roughly 140. Sundial Growers laid off 10% if their workforce in January, and Hexo cut 200 workers in October. Some expect the next layoffs will be at Canopy.
Business Insider,CFO
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Though Klein promised Canopy's beverages will be "a game changer," Canopy has not yet released those products. Klein said Canopy "probably rushed it in terms of getting our initial announcement out."
Marketwatch, Twitter—Jeff Lagerquist
Quick Hits
A New Brunswick dispensary raided in Novemberannounced it would be closing its physical locations, but would continue to do sell unlicensed products via its website.
GrowthOp, Digital Journal
Despite popular anxiety about vaping during last fall's US vape-poisoning crisis, many LPs focused their legalization 2.0 attentions on vape products, and with 417 cannabis stores open to date, Alberta has the potential to help LPs move a lot of product.
Market Realist
Quick Hits
Now that Cannabis NB's sales are emerging from the toilet, New Brunswick might not be in such a hurry to privatize the crown REC retail monopoly.
GrowthOp
A Montreal MED consultant is telling Quebeckers between 18 and 20 to sign up for a MED access in order to circumvent the new provincial age limit of 21 to consume cannabis.
Journal de Montréal—In French
THE FINAL COUNTDOWN
HTTPS://WWW.FLICKR.COM/PHOTOS/128470793@N02
A study by Ello Capital determined Canada's largest LPs average less than a year's worth of cash left. Aurora has less than three months of cash left, and Canopy has less than eight.
Marketwatch
Canopy disputed this accounting and said if cash-equivalents and marketable securities were included, they'd have more than twice as much.
A Saskatoon doctor who wrote an impressive 1,000 MED prescriptions in six weeks in 2017 will be fined $24,000 for professional misconduct.
Saskatoon Star-Phoenix
Aleafia Chief Medical Officer and MED advocate Dr. Michael Verbora reported witnessing a hospitalized child who needed CBD oil for treatment-resistant epilepsy could not get any because hospitals do not stock MED products.
Twitter—Michael Verbora
Torkin Manes Cannabis Law Group chair Matt Maurer called Henein "arguably the most talented litigator in the country," and added "she has the most accomplished Canadian class action lawyer of all time riding shotgun." He concluded, "CannTrust is in trouble and the case hasn't even started."
Twitter—Matt Maurer
CannTrust appointed Greg Guyatt Chief Executive. Guyatt was previously CFO.
NewsWire
LPs are just beginning to learn how to process returns—mainly products that didn't sell, but also recalled products, undeliverable shipments, damaged products, etc. Since 2018, LPs have reported an average of 11,152 kg of cannabis destroyed per month.
CTV News
Lawyer Trina Fraser noted provincial supply deals "permit the return of product for any reason whatsoever," rather than just defective/recalled product. But at least non-defective products can be resold to other provinces provided excise stamps are re-applied.
Twitter—Trina Fraser
At the same Agricultural Show, Health Canada representative Jacqueline Oddi said the regulator is developing a security-preclearance program that prospective licencees could complete prior to application. Such a move would be useful for every aspiring LP, but because the notorious wait for security-clearances is hardest for small companies to budget for, the change would be best for micro-level applicants.
Twitter—Adam Carmichael
BC DISPENSARY EMPLOYEE FINED $1.5M
HTTPS://WWW.FLICKR.COM/PHOTOS/12507137@N00
The general manager of a chain of eight Trees unlicensed dispensaries in Victoria said the controversial BC Community Safety Unit held him personally responsible for the now-closed stores' sales, and fined him $1.5M.
Inside the Jar, Vancouver Sun
Alex Robb was given 30 days to decide between accepting and paying 50% of the fine, or contesting it in a process overseen by the CSU's director.
Robb, who said he was "actually an employee of the company" and "never sold the cannabis" predicted "this could essentially cause my financial ruin and follow me for the rest of my life."
Quick Hits
The Ontario Workplace Safety and Insurance Board rejected an application to cover MED for a patient who wished to stop taking opioids for pain, saying MED isn't "necessary, appropriate, or sufficient health care treatment for most medical conditions."
GrowthOp
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