International

Thailand’s new prime minister said the Southeast Asian country plans to rewrite its cannabis laws to allow only medical use, a move that would halt widespread recreational sales and fundamentally alter the industry. In an interview with Bloomberg, Prime Minister Srettha Thavisin, who was elected in August, said there is a need to “rewrite the law” to stop adult-use sales from occurring. “The problem about drugs has been widespread lately,” he said in the interview. He said his government would “rectify” the… Read more.

Much of the medical cannabis produced under Denmark’s regulatory system has not made it to market and was intentionally destroyed for various reasons, according to government data. Just over 300 permits have been issued for the destruction of 145,541 kilograms (320,862 pounds) of cannabis, the Danish Parliament’s Health Committee said in a reply to a parliamentary inquiry earlier this year. The figure includes all cannabis destroyed by the companies with an authorization to cultivate cannabis – within the country’s pilot program –… Read more.

E-commerce technology company Squarespace Inc. (NYSE: SQSP) announced a partnership with dispensary tech company Jane Technologies to offer its products to cannabis businesses in Canada. “At Square, we’re always looking to solve sellers’ pain points and we know cannabis dispensaries have limited options when it comes to reliable and integrated commerce tools,” said Roshan Jhunja, Head of Retail at Square. “Sellers are looking for an easy-to-use, fully integrated omnichannel solution to help them run their businesses in person and online. We’ve been fortunate to… Read more.

Nearly five years after legalizing recreational marijuana at the federal level, Canada is approaching 4,000 regulated cannabis stores spread unevenly across the enormous country, according to data compiled by MJBizDaily. The latest quarterly store tally comes as Canada’s cannabis retail sector continues to transform. Some private-sector retailers are failing, such as major retail chain Fire & Flower, which entered creditor protection in June after years of operating at a loss. Other retail operators, meanwhile, are acquiring: Fika Cannabis successfully bid 36 million Canadian dollars ($26.7 million) for… Read more.

Some brands just seem to have an innate sense for how to make it to the top. They’re able to attract the old guard with a classic panache while at the same time appealing to hipsters who seek a bougie vibe. Canadian dispensary chain Burb passes the test, blending trendy retail with onsite spaces where artists can create and collaborate and industry members can network and build brands. From consumption lounges and live-music nights to a bud bar and a new location that… Read more.

Canadian cannabis producer Canopy Growth Corp. entered into subscription agreements with institutional investors in a private placement offering for gross proceeds of approximately $25 million (33.8 million Canadian dollars). The offering of roughly 22.9 million units occurred at a price per unit of $1.09, an approximately 22% discount from Friday’s close, according to a Monday news release. Smiths Falls, Ontario-based Canopy said the investors hold an over-allotment option allowing them to acquire up to about 22.9 more units. The gross proceeds from… Read more.

Columbia Care Inc. (NEO: CCHW) (OTCQX: CCHWF) is changing its legal name to The Cannabist Company Holdings Inc. as it aligns more closely with its retail store name. The company is rebranding to The Cannabist Company and is also changing its trading symbols on the CBOE Canada to “CBST” and “CBST.WT”, respectively, for the common shares and warrants. “The rebrand to The Cannabist Company marks an incredibly pivotal moment for us as an organization and speaks to where we are heading. When we launched Cannabist, we wanted… Read more.

Active medical cannabis registrations and overall spending on the medicine in Canada fell to their lowest levels since before recreational marijuana was legalized in late 2018. The number of active patient registrations with a federal license holder was 212,700 as of the end of March, according to the latest data from Health Canada and Statistics Canada, respectively. That’s 38% lower than the 345,520 active registrations in October 2018, when Canada legalized marijuana for adult use. The Health Canada figures are… Read more.

With its right hand, Tilray Brands has consolidated a swath of the Canadian cannabis market, most recently buying Hexo Corp. in its quest to grow market share. With its left hand, Tilray has gone on a beverage alcohol acquisition bender in the United States. After several alcohol acquisitions that turned Tilray into one of the largest U.S. craft brewers, the company recently announced an $85 million deal to acquire eight craft beer brands from brewing behemoth Anheuser-Busch InBev. As the dust settles on Tilray’s latest… Read more.

The United Kingdom’s Home Affairs Committee is recommending the government widen access to unlicensed cannabis-based products for medical use via the National Health Service before the end of the current Parliament. The National Health Service (NHS) is England’s publicly funded health care system. The government has two months to respond to the committee’s recommendation. There are currently no licensed cannabis-based products for medical use (CBPMs) in the U.K. And, though unlicensed CBPMs may be prescribed, none have received marketing authorization.… Read more.

If you’re an enthusiast of top-quality cannabis seeds, we’ve got some fantastic news for you. The renowned cannabis seed bank Barney’s Farm launched their USA website www.barneysfarm.us in this past May. This marks a new era for cannabis enthusiasts nationwide, as they can now access the finest seeds, straight from the source. And with all seeds shipped from their USA warehouse based in Illinois, you can expect quick delivery to any state. Let’s explore the history of Barney’s Farm, the reasons behind… Read more.

Medical cannabis reimbursements by Veterans Affairs Canada in the 2022-23 fiscal year recorded an all-time high, according to the latest figures.However, annual growth of those reimbursements as measured in dollars reached a multiyear low, indicating that growth in the category is slowing substantially.Veterans Affairs Canada (VAC) is the federal department responsible for benefits and services for retired and serving Canadian Armed Forces members.In the 2022-23 fiscal year ended March 31, VAC reimbursed 21,108 people a total of 167.6 million Canadian… Read more.

Australia and Israel were the top markets for Canada’s medical cannabis exporters last year, as the quantity of flower shipped overseas continued to surge, according to new figures shared by Health Canada with MJBizDaily. In the April 2022-March 2023 fiscal year, Canada’s exports of medical marijuana flower were 59,986 kilograms (roughly 132,200 pounds), a 48% increase over the previous year’s 40,640 kilograms. The vast majority of exports, however, went to only three countries, meaning exporters risk being dependent on a very… Read more.

Health Canada said two licensed cannabis companies have voiced concerns about the wildfires in British Columbia, but the federal regulator told MJBizDaily it has yet to receive any reports the blazes have destroyed marijuana crops. “Health Canada is aware that the wildfires and their associated evacuation orders may have an impact on cannabis license holders,” a Health Canada spokesperson said via email Thursday. “We acknowledge these are challenging times.” The regulator did not identify the companies. Canada has been battling its worst… Read more.

Two indices tracking the performance of cannabis businesses on North America’s largest stock exchanges have been discontinued amid waning investor interest in marijuana stocks and billions in losses suffered by the companies. The S&P/TSX Canada Cannabis Index was decommissioned with little fanfare earlier this year after being launched on Jan. 20, 2020, a spokesperson for S&P Dow Jones Indices confirmed in an email to MJBizDaily. A second cannabis index, the S&P/MX International Cannabis Index, was decommissioned in November 2021. The S&P/TSX Canada Cannabis… Read more.

Back in the regulated marijuana industry’s more heady days, a U.S. hemp-derived CBD subsidiary seemed like the must-have accessory for any Canadian cannabis company worth its bud. Canopy Growth Corp. owned a hemp farm in Springfield, New York, and planned to build a $150 million industrial park in Kirkwood, New York, to produce hemp products. Aurora Cannabis bought Reliva – a Massachusetts-based producer of hemp-derived CBD products – in a $40 million deal that included potential earnouts. And Cronos Group spent hundreds of millions of… Read more.

Germany’s cabinet on Wednesday passed a bill to legalize adult cannabis use and cultivation, Reuters reports. The measure still requires approval from parliament.  Under the proposal, adults would be allowed to possess up to 25 grams, grow up to three plants, and acquire cannabis as associates of non-profit clubs. Young adults would be allowed to purchase up to 30 grams per month, while older adults would be able to purchase up to 50 grams.  During a press conference, Health Minister Karl Lauterbach… Read more.

Tilray Brands Inc. (Nasdaq: TLRY) (TSX: TLRY) is buying the remaining 57.5% of shares in THC-infused drink line Truss Beverage Co. from Molson Coors Canada, the company said Friday. In a statement, Blair MacNeil, President of Tilray Canada, expressed excitement for the move. “In addition to acquiring full and direct ownership of a stable of high-growth brands, this acquisition further strengthens Tilray’s No. 1 cannabis market share position in Canada and positions the company at the forefront of the adult-use beverage sector,” MacNeil… Read more.

Nearly five years after recreational cannabis legalization, legal weed shops are as common as corner stores in most major Canadian cities. In the biggest metropolis, Toronto, more than 400 cannabis retail licenses have been issued across the city’s six boroughs. In contrast, Canada’s second-biggest city – Montreal – is home to only 21 legal cannabis outlets within city limits, plus some stores in outlying suburbs. All are operated by Quebec’s government-owned recreational cannabis retail monopoly Société québécoise du cannabis (SQDC).… Read more.

Top executives at Canopy Growth Corp. (TSX: WEED) (Nasdaq: CGC) did their best this past week to convince stakeholders that the business is now making progress on a “path to profitability,” as Chief Financial Officer Judy Hong put it during the company’s second-quarter earnings call. Hong and CEO David Klein tag-teamed during the call to argue that cost-cutting measures, a strategic pivot to an “asset-light” business model, and further investment in brand partnerships, such as the one the company has with… Read more.

Canadian megacorp Tilray Brands Inc. struck an $85-million cash deal with Budweiser parent company Anheuser-Busch InBev (AB InBev) to purchase eight breweries in the United States. The acquisition will triple Tilray’s beverage production capacity to 12 million cases per year, making it the fifth-largest craft beer company in the country. The purchase added 10 Barrel Brewing Company, Blue Point Brewing Company, Breckenridge Brewery, HiBall Energy, Redhook Brewery, Shock Top, Square Mile Cider Company, and Widmer Brothers Brewing to a portfolio… Read more.

Canada’s federal government accounts for a growing share of the unpaid debts racked up by failed cannabis companies, lending credence to claims the nation’s nascent adult-use industry is suffering from pricey fees and heavy taxation. A review of recent insolvency filings by MJBizDaily found that the Canada Revenue Agency, the federal tax collection body, and Health Canada, the national department in charge of regulating cannabis production, are commonly among the biggest unpaid creditors for insolvent marijuana producers. In the 2021-22 fiscal year,… Read more.

Canada’s federal government could face legal consequences for failing to facilitate research on potential health issues experienced by cannabis smokers, according to the former chair of the task force that laid the groundwork for recreational legalization in the country. Anne McLellan, a former law professor at the University of Alberta, told The Globe and Mail newspaper the Canadian government could “potentially” face a class action lawsuit. The federal health minister from 2002 to 2003, McLellan told the Toronto-based newspaper that any lawsuits… Read more.

This article will discuss the 26 biggest marijuana companies in the world, understand some recent industry trends, and navigate the future of the marijuana industry. If you want to skip our detailed analysis, you can head directly to the 5 Biggest Marijuana Companies in the World. An Analysis of the Cannabis Industry According to a report by Fortune Business Insights, the global cannabis market was worth $43.72 billion in 2022. The industry is expected to reach a valuation of $57.18 billion by the… Read more.

In this week’s cannabis news round-up, supermodel Gigi Hadid was arrested and pleaded guilty to cannabis possession; Philip Morris to acquire Israeli firm for up to $650M; Ukraine takes first step towards medical cannabis; and Berner teams up with the Last Prisoner project for Release Papers. Photo courtesy of Cayman Islands Classic Gigi Hadid Arrested for Cannabis Possession in Cayman Islands Gigi Hadid’s recent trip to the Cayman Islands took an unexpected turn when Customs & Border Control agents discovered… Read more.

The Albanian parliament passed a law Friday to lay the legal and regulatory foundation for a medical and industrial cannabis industry. Lawmakers approved the bill, with 69 votes in favor, 23 against and three abstentions. The law creates the National Agency for the Control of Cannabis as the main regulatory body, which will deal with the regulation of the processing and production of products for medical use. The law, which also allows for medical marijuana cultivation, had been presented by… Read more.

For cannabis retailers, it’s no secret: Customers like buying weed close to home, if they can. New research into Canada’s regulated cannabis market supports that intuition: Consumer proximity to government-regulated stores increases the odds that people will source product from the legal market. The paper – due to be published in the Journal of Studies on Alcohol and Drugs – explores the association between how far Canadian cannabis users live from regulated cannabis retail stores and how they choose to obtain… Read more.

Cannabis entrepreneurs are increasingly turning to smaller micro-cultivation facilities to manage costs and produce higher-quality marijuana at a time when the industry is facing a glut of “standard” product and falling prices. That shift ultimately could help shrink some of the Canadian cannabis industry’s current supply glut, given that micro-class licensees operate smaller cultivation facilities. At the end of 2022, Canada’s total indoor growing area was 28% lower than the all-time high reached in 2020. Canada’s federal government last year… Read more.

In this week’s cannabis news round-up, data shows celebrity cannabis brands are outselling traditional brands in California; Maryland’s booming cannabis market is poised to reach billion-dollar status; Maine reports record-breaking adult-use cannabis sales in June; and Scotland pushes for drug decriminalization, but the British government rejected the proposal. Data Shows Celebrity Cannabis Brands Outshine Traditional Brands New data suggests that celebrity cannabis brands are making a big impact in the California market and outperforming traditional brands, according to insights from cannabis analytics provider… Read more.

Pressure is growing on the Canadian government to adjust the THC limit governing cannabis edibles, with the country’s largest adult-use wholesaler calling on the nation’s marijuana regulator to consider such a move. In a position paper sent to Health Canada, the Ontario Cannabis Store (OCS) also urged the agency to address the cannabis industry’s “unsustainable” environmental footprint – particularly the impact of packaging and single-use plastics. In recommending a hike in the THC edibles cap, the OCS joins a growing… Read more.

German adults aged 18 and older would be allowed to possess up to 25 grams of cannabis for personal use and cultivate up to three plants under the country’s draft law to legalize cannabis published by the Ministry of Health last week, Forbes reports. The law would also establish cannabis growers’ associations which would allow members to obtain either 25 grams of cannabis per day or 50 grams per month for personal use, and associations could supply each member with up to… Read more.

Unpaid regulatory fees owed by cannabis companies to Canada’s federal government jumped more than 200% from a year earlier, to almost 4 million Canadian dollars ($3.1 million) as of the end of March, MJBizDaily has learned. The overdue fees have grown every year since 2019, as cannabis businesses licensed by the federal government struggle under the weight of taxes, fees, an intensely competitive market and poor business decisions. For the 2022-23 fiscal year, the fees in arrears grew to CA$3.9 million, 225%… Read more.

Cronos Group has received a number of expressions of interest about a possible sale and is reviewing those offers, the Toronto-based cannabis producer said. “Cronos is in the initial stages of reviewing these indications of interest, and there can be no assurance that any agreement or transaction will result therefrom,” the company said in a news release. Reuters reported Thursday that Cronos is exploring a potential sale. Cronos is currently working with a financial adviser to handle the expressions of interest from other companies,… Read more.

German cannabis company Four 20 Pharma has inked a deal to be the main jersey sponsor for Sport-Club Paderborn 07, a professional German soccer club. Sport-Club Paderborn 07 – commonly known as SC Paderborn 07 and based in Paderborn, North Rhine-Westphalia – competes in the German second division, under the Bundesliga. The financial terms of the agreement were not disclosed. The two-year deal commences with the 2023-24 season, which begins Aug. 18. Professional soccer teams typically sell sponsorship opportunities on… Read more.

Hundreds of emails, documents and reports obtained by MJBizDaily through a Canadian federal records request paint a more complete picture of the Cannabis Act review currently underway – a reexamination that could have far-reaching implications for operators in the country’s 5.6 billion Canadian dollar ($4.3 billion) legal marijuana industry. The 1,700-page package of documents reveals fresh details about the government-appointed expert panel undertaking the review, in particular the group’s tardiness in launching, the scope of the topics covered – as well as what’s not… Read more.

A Canadian Senate committee is urging the federal government to revise the county’s adult-use cannabis law to give First Nations the authority to regulate their own production and sales programs. That is one of the recommendations contained in a recently released report by the Senate Committee on Indigenous Peoples, which spent 2022 examining the implementation of the 2018 Cannabis Act and how the end of prohibition affected Indigenous peoples. The group of 14 senators heard testimony from 29 witnesses. (MJBizDaily reported… Read more.

Last Tuesday, Colombia's Senate dealt a blow to decriminalizing recreational cannabis by rejecting a bill. The constitutional reform proposal fell short of 54 votes, receiving 43 against and 47 in favor. This decision was made just an hour before the conclusion of the current legislative session. Despite facing a setback, Senator Juan Carlos Losada of the Liberal Party remained optimistic and refrained from considering it a defeat. He highlighted the significant progress achieved by bringing such a contentious issue to… Read more.

Health Canada is asking federally licensed cannabis producers to stop using certain words on labels and in promotions for infused beverages, warning they could appeal to young people. The words – “soda,” “cola,” “root beer” or “ginger ale” – do not comply with Canada’s strict labeling and promotions requirements for cannabis, according to an email obtained by MJBizDaily that was sent by Health Canada to companies producing the affected products. Health Canada is requesting businesses to “cease all non-compliant promotion and labelling of cannabis,”… Read more.

The cannabis industry is not immune to cyberthreats. Many Canadian businesses lost millions after a distributor for the government-operated Ontario Cannabis Store was hit by a cyberattack that left the region incapable of processing or delivering orders to retailers. In another cyberattack, hackers stole $3.6 million an Australian medicinal-cannabis firm intended to send to an overseas contractor. These are just two examples of how the industry has become a popular target for cyber-extortion in recent years due to the nature… Read more.

The Colombia Senate on Tuesday narrowly rejected a bill to allow legal cannabis sales to adults, Reuters reports. The measure failed despite having a majority of support in the chamber — 47 voted in favor and 43 opposed but, as a constitutional amendment, the bill needed support from 54 senators, leaving it just seven votes short. Despite the vote, Interior Minister Luis Fernando Velasco indicated on Twitter that the administration of President Gustavo Petro would “insist on this issue.”   In an interview… Read more.

Colombia’s Senate failed to approve a legal framework to regulate recreational marijuana sales, making it the latest country to fall short in a bid to bring illegal cannabis sales into the regulatory fold. A majority of Senators actually voted to approve the measure – with 47 in favor and 43 opposed – but the bill’s proponents required a minimum of 54 votes to advance the constitutional reform. Colombia follows Germany, Israel, Mexico and New Zealand in having announced ambitious recreational cannabis plans, only to ultimately come up short… Read more.

Surrounded by verdant fields, Flat House, which sits on a farm in Cambridgeshire, the UK, looks like a typical barn conversion. But inside, the look and feel of the building immediately make you realise this is something quite different. "The walls remind me of hay bale dens we used to make as kids," says Flat House's owner Gemma Barron. "It has the most lovely acoustic quality. And last year we had the heating off for 24 hours in mid-winter and… Read more.

Decibel Cannabis is a rare breed among licensed producers in Canada. The company’s ascent to the top of market-share charts in key product categories came not from costly and severely dilutive mergers and acquisitions – a strategy employed by some larger rivals. As of April, the Alberta-based company said its national share was 7.1% – good enough for second place in Canada’s hotly contested market, though market analytics firm HiFyre had Decibel as No. 1 in the key provinces of… Read more.

Both companies plan to use some of the proceeds to further their research. While funding for psychedelics companies may be becoming more scarce, at least two firms have managed to successfully initiate rounds recently. PharmAla Psychedelic drug company PharmAla Biotech Holdings Inc.  (CSE: MDMA) (OTC: PMBHF) announced a non-brokered private placement of a minimum 3,333,333 units and a maximum 16,666,666 units of the company at a price of $0.30 per unit for gross proceeds of a minimum of $1 million and a maximum of… Read more.

A cannabis oil company is poised to go public next week in a landmark deal, sidestepping Canada’s downtrodden traditional IPO route after merging with a long-standing, listed crude producer. Zyus Life Sciences Inc. completed a reverse takeover of Phoenix Canada Oil Co. Ltd. on June 9, raising C$20.1 million ($15.1 million). The company, which makes cannabinoid drugs to treat pain for osteoarthritis and bone cancer, is set for its trading debut as Zyus Life Sciences Corp. (ticker ZYUS CN) on… Read more.

The Caribbean nation of Antigua and Barbuda has granted Rastafari officials authorization to grow and consume cannabis as their faith considers the plant sacred, the Associated Press reports. In an interview with the AP, Antigua and Barbuda Prime Minister Gaston Browne said the reforms are meant to prevent further discrimination of the Rastafari and bring respect to their culture and faith.  Browne noted that the nation has already decriminalized cannabis and legalized medical cannabis but wanted to take the next step – “to legalize the… Read more.

Summer is the magical time of year when we embark on the thrilling quest of finding the perfect country to explore. If you’re all about that herbaceous adventure, typical wanderlust lists might not deliver the exhilaration you crave. While 23 US states have opened their arms to the wondrous world of weed, it’s easy to forget that not every country is rolling out the welcome mat for cannabis-friendly travel. The last thing you want is to end up in legal… Read more.

Fire and Flower Throw in the Towel, Citing Significant Losses An initial order for creditor protection has been granted by a Canadian court to Fire & Flower Holdings and its cannabis-related businesses due to significant net losses of more than $150 million ($200 million) that have accrued since 2018. The Companies Creditors Arrangement Act (CCAA) was used by the Ontario Superior Court of Justice to grant this order, which enables the company to continue operating as it currently is and interact with… Read more.

Professionals have many reasons for attending cannabis events both domestically and internationally. The obvious: expanding business into new markets, meeting clients in person, and discovering innovation. Then, there’s also the benefit of large-scale discussions about how to adapt in a fast-paced, ever-evolving sector. The Lift Cannabis Conference & Expo in Toronto, Canada, checked all those boxes. This year’s agenda presented a list of change agents, including Muskoka Grown Chief Executive Officer John Fowler, Spirit Leaf and Superette President Dave Marino, and Abi… Read more.

The company's decision to file for bankruptcy underscores the ongoing challenges in the sector. Fire & Flower Holdings Corp. (OTCQX: FFLWF), a major Canadian cannabis retailer, is seeking creditor protection under the Creditors Arrangement Act (CCAA), the company said Tuesday. The company and a string of its subsidiaries have received an order from the Ontario Superior Court of Justice for creditor protection, marking a notable — yet foreseen — shift in its financial circumstances. Previously, Fire & Flower has been open about its active pursuit for additional… Read more.

Business failures and consolidation failed to stop Canada’s stockpile of unsold cannabis from reaching a new high in the final quarter of 2022, the latest sign that shrinking prices and margins could continue to squeeze companies. Packaged and unpackaged inventory of dried cannabis jumped to an all-time high of 1.47 billion grams (3.2 million pounds) as of December 2022, according to the latest data from Health Canada, which tracks overall unsold stockpiles of licensed producers, wholesalers and retailers. That’s an… Read more.

As recreational cannabis talks increase all around Europe, the term “social clubs” keeps getting bandied about. The formal understanding is that social clubs are not-for-profit associations that cultivate their own cannabis for their members. Like any private club’s concept, the idea is to bring the illicit market indoors. This mom-and-pop style approach has a mixed bag of interpretations and results associated with it across the European cannabis social club scene. The Historic Dutch Cannabis Coffee Shop Model The oldest versions… Read more.

The company said it plans to open five more stores in Florida. Red White & Bloom Brands Inc. (OTC: RWBYF) posted its financial results for the first quarter ending March 31, 2023. The company posted revenues that ticked down over the year and opened newly re-branded stores in Florida, as it tries to stave off losses. The Toronto-based firm reported revenues of $27 million, down from last year’s $28 million, with a gross profit of $9.4 million. Operating expenses amounted to $10.9 million, and the… Read more.

An excise stamp needs to be affixed to all legal cannabis products sold in Canada. The amount of unpaid federal excise tax owed by Canada’s cash-strapped licensed cannabis producers more than tripled in the latest fiscal year from a year earlier as companies complain they’re getting buried by government fees and levies. Federally licensed cannabis producers owed the Canada Revenue Agency 192.7 million Canadian dollars ($145 million) as of March 31, 2023, a more than threefold increase over the 2021-22… Read more.

Back in 2021, mere weeks before what would prove to be a historic election for cannabis policy in Germany, the International Cannabis Business Conference (ICBC) hosted a panel of sitting federal lawmakers to discuss German cannabis policy. It was the first time in history that all major parties in Germany were represented in a panel discussion specific to national cannabis reform. As we learned weeks after the historic panel discussion, a new governing coalition was elected in Germany and many of the… Read more.

The government of Costa Rica issued the first business license to cultivate and process marijuana for medical purposes, according to local media reports. Costa Rica’s Ministry of Agriculture and Livestock (MAG) issued the license to Azul Wellness S.A., The Tico Times newspaper reported. Azul reportedly plans an 800-square-meter production and processing facility in Costa Rica’s Guanacaste province. The firm has partnered with U.S. cannabis private equity firm Merida Capital Holdings. MAG also has issued eight hemp-cultivation authorizations to date, according to the… Read more.

The Canadian federal government’s revenue service is ramping up pressure on cannabis producers with outstanding excise debt, MJBizDaily has learned, adding more pressure on companies that already are struggling financially. The Canada Revenue Agency (CRA) is said to be raising the possibility of garnishment, liens on plant property and equipment, and legal action. Excise payment debts have soared in recent years, as cannabis producers suffer from a combination of industry-wide overproduction, which is driving down prices, and high taxes at various levels… Read more.

The future of marijuana in Thailand may become uncertain as political parties contesting in the upcoming national election call for the repeal of cannabis decriminalisation, which has been in effect for approximately one year. Pheu Thai Party‘s Paetongtarn Shinawatra, a prime ministerial candidate, has voiced her concerns about liberalised cannabis at a recent rally, stating the need to suppress drugs. The legal vacuum that emerged from decriminalisation has caused frustration among politicians and citizens alike, as the new industry was introduced before lawmakers could assess and pass regulations for its… Read more.

Nearly a year after Thailand decriminalised cannabis amid promises of an economic bonanza, Thai growers and sellers say they are being undercut by illegal imports from the United States that sell for a fraction of the price of homegrown buds. Thailand struck cannabis from its list of banned narcotics in June 2022 after a high-profile campaign by Health Minister Anutin Charnvirakul to establish the kingdom as a global hub for cannabis for medical purposes. But Thailand’s parliament has yet to pass a… Read more.

Policymakers in the Czech Republic recently expressed a strong desire to legalize cannabis for adult use, building on the momentum occurring across the border in Germany. Germany is trending towards adult-use legalization and the Czech Republic has expressed its own plans for legalization. However, the Czech Republic’s Ministry of Agriculture recently announced that it will be instituting new restrictions on CBD products, which is leaving many international cannabis observers scratching their heads. “The State Agricultural and Food Inspection … is… Read more.

With the increasing number of states legalizing cannabis for medical and recreational purposes, there are growing concerns about the potential rise in incidents of cannabis-impaired driving. Unlike alcohol impairment, which can be easily tested using a breathalyzer, identifying cannabis impairment requires a more intricate approach. Police officers must rely on observational skills, physical tests, and specialized technology to determine if a driver is under the influence of cannabis. This article will explore law enforcement's various techniques to test for cannabis-impaired driving. So… Read more.

The study showed how mushroom extracts could boost immune cells in the brain. Psyched Wellness Ltd. (CSE: PSYC) (OTCQB: PSYCF) stock jumped 11% to lately sell at four cents based on the release of a new study demonstrating how mushroom extract can help modulate brain health. The study, to be published in Frontiers in Pharmacology, shows that Amanita muscaria extract activates human microglia, which play a key role in maintaining brain function. These mushrooms are known to contain muscarine, muscimol, muscazone, and ibotenic acid and… Read more.

A top Germany health official has submitted a draft bill to legalize marijuana possession, cultivation and social clubs—the first of a two-part reform framework—to government cabinet officials. Health Minister Karl Lauterbach shared details about the legalization plan last month, and on Friday he distributed the legislative text to cabinet officials to consider before finalizing the bill and sending it to lawmakers. “Promise kept. Comments welcome,” Lauterbach said in response to news coverage about the latest development, according to a translation. While… Read more.

In this week’s cannabis round-up, Singapore executes Tangaraju Suppiah for cannabis delivery; Delaware legalizes adult use cannabis in an unusual way; Colorado announces new funding opportunities for cannabis businesses; put your best foot forward in CBD sneakers and record sales reported for this year’s 420. Singapore Executes Man Accused of Cannabis Trafficking Even though he wasn’t found in possession of any cannabis, Singapore has executed a man accused of organizing a cannabis delivery. In 2018, the 46-year-old Tangaraju Suppiah received… Read more.

PharmaCielo Ltd. (TSXV: PCLO) (OTCQX: PCLOF), the Canadian parent of Colombia’s premier cultivator and producer of dried flower and medicinal-grade cannabis extracts, PharmaCielo Colombia Holdings S.A.S., released its financial results for the fourth quarter and year ended December 31, 2022. The company reported $1.5 million in sales for the quarter versus last year’s $339k for the same time period. This was also much higher than the third quarter revenue of $475k. The net loss for the quarter was trimmed to $2.9 million versus last year’s… Read more.

Canadian marijuana operator Organigram Holdings is asking a federal court to quash a Health Canada decision that the company’s popular ingestible cannabis lozenges should be classified and regulated as edibles instead of extracts. The legal challenge could have broader implications for Canada’s regulated cannabis sector and affect millions of dollars in sales of high-potency lozenges and similar products. Toronto-headquartered Organigram is seeking an application for judicial review. In Canada, such reviews give stakeholders, including companies, the opportunity to challenge decisions by government authorities, explained… Read more.

Australia’s medical cannabis industry continues to experience brisk growth in patients and sales, and experts say the market could even surpass Canada’s medical sector this year. Australian patients generally access medical cannabis via two government-regulated programs: the so-called Special Access Scheme Category B (SAS-B) system or from an Authorized Prescriber, typically a physician. Australia legalized medical marijuana in 2016. According to Therapeutic Goods Administration (TGA) data, the number of SAS-B patient approvals for medical cannabis increased sharply every year from January 2018… Read more.

Produce and marijuana company Village Farms International has been warned by the Nasdaq stock exchange about its low share price. The company’s Nasdaq-listed shares (VFF) have closed below $1 since March 7. Village Farms has until Oct. 17 to become compliant with Nasdaq’s $1 minimum bid price requirement, the Delta, British Columbia-based company said in a Monday news release. If not, “the company may be eligible for an additional period of 180 calendar days to regain compliance or may be subject to delisting… Read more.

After the market closed on Thursday, Mind Cure Health Inc. (CSE: MCUR) (OTCQB: MCURF)  announced its financial results for the quarter ending February 28, 2023.  All amounts are stated in Canadian dollars unless otherwise indicated. The company had no revenue to report and C$200k in losses. On March 16, 2022, Mind Cure announced that additional capital required to execute the company’s plan was unlikely to be found. Accordingly, the company made the decision to eliminate all expenditures outside those required to preserve the value of… Read more.

TerrAscend Corp. (CSE: TER) (OTC: TRSSF) decided to celebrate 420 by filing its preliminary proxy statement with the U.S. Securities and Exchange Commission in its next step to listing on the Toronto Stock Exchange (the TSX). While the company had hoped to time the release at 4:20pm, it managed to post the notice at 5:30pm. Shareholders will first have to approve the proposed transaction, which is expected, and the listing would come shortly thereafter. The meeting is scheduled for June 22, 2023… Read more.

A new delivery option will be available for consumers of legal cannabis in British Columbia starting this week. E-commerce and delivery technology company Uber Eats is partnering with online marijuana platform Leafly to offer delivery of cannabis products in British Columbia starting April 18. Last fall, the two companies started offering cannabis ordering and delivery in Toronto. In British Columbia, customers 19 and older will be able to place orders on the Uber Eats app and have cannabis products delivered to their door from… Read more.

Canopy Growth Corporation (TSX: WEED) (NASDAQ: CGC) announced that it has entered into an exchange agreement with Greenstar Canada Investment Limited Partnership, a wholly-owned subsidiary of Constellation Brands, Inc., in order to extinguish C$100 million (approximately USD$73.9 million) aggregate principal amount of the company’s outstanding 4.25% unsecured notes due 2023. The goal of the transaction is to preserve cash on hand and cut the company’s annual expenses. Greenstar is buying and then canceling the C$100 million aggregate principal amount of the Existing Notes held by GCILP… Read more.

Canada’s Supreme Court on Friday upheld Quebec’s prohibition on homegrown cannabis, ruling that a provincial ban on possessing and cultivating marijuana plants for personal purposes is constitutional. Quebec is one of the provinces that does not allow the home cultivation of cannabis. Manitoba’s ban is also being challenged in court. When Canada legalized marijuana in 2018, Quebec Cannabis Regulation Act prohibited the possession and cultivation of the plant for personal use. In 2019, Janick Murray-Hall successfully challenged the ban before the province’s… Read more.

A survey by Finland’s Institute for Health and Welfare (THL) found 53% of respondents said cannabis use and possession should not be a crime, YLE News reports. Another 24% said cannabis should be legal for any use and 56% said cannabis should be legal for medical use. In 2018, those figures were 18% and 54%, respectively. Additionally, the survey found 29% of Fins would support decriminalization of all drugs – a 9% increase from the previous survey in 2018. The survey found the same percentage… Read more.

The German government has finally revealed its long-awaited revised plan to legalize cannabis. German officials held a press conference yesterday, attended by Health Minister Karl Lauterbach and Agriculture Minister Cem Özdemir, where they announced the country's plan to legalize cannabis. The revised plan for cannabis in Germany draws on policies and experiments from other European countries with a unique twist. It seems inspired by the Swiss model for a pilot project for the sale of cannabis products, which will also… Read more.

The growth in Israel’s medical cannabis industry has slowed over the past several months, but experts say regulatory changes are afoot that could reinvigorate patient numbers if the country’s tumultuous political situation stabilizes. The number of authorized medical cannabis patients in Israel reached an all-time high recently – topping 123,000 – before dipping in February, according to data from the Israeli Medical Cannabis Agency (IMCA). In 2020, by contrast, the number of authorized medical cannabis patients more than doubled over two… Read more.

German officials have announced they are scaling back their widely anticipated cannabis legalization plan following a discussion with European Union officials, the Associated Press reports. The new plan, revealed on Wednesday, is to legalize cannabis possession of up to 25 grams and establish nonprofit “cannabis clubs” where registered members who are 18 and older can go and purchase the plant for recreational purposes. The clubs will be limited to 500 members each and individuals will not be allowed to hold memberships at more than… Read more.

Canadian cannabis producer Phoena Group has been granted creditor protection and is winding down its operations, the company said in court documents. The Vaughan, Ontario-based company – formerly called CannTrust – said it no longer has the financial footing to continue operating. As a result, Phoena plans to immediately halt the cultivation of new plants, destroy cannabis inventory not yet released for sale and lay off 87 employees, although upward of 238 of its workers will be affected. CannTrust was… Read more.

South Africa to Introduce New Cannabis Laws – What You Need to Know The South African Portfolio Committee on Justice and Correctional Services has opened the proposed amendments to the Cannabis for Private Purposes Bill for public comments. Interested stakeholders have been invited to write submissions on the proposed amendments by Friday, April 28, reported Business Tech. The measure is one of the 51 bills that are currently advancing to Parliament for consideration. If passed, the legislation will allow for the cultivation… Read more.

European cannabis executives would welcome a decision by the German government to pursue a trial recreational cannabis program versus nationwide legalization – even if that meant a significantly smaller market for businesses to pursue. Still, some experts say any trial program in Germany would come with risks, pointing to the flailing Netherlands experiment and even parallels with Japan’s “scientific” whaling activities. German media reported last week that federal officials might resort to a “cannabis legalization light” model amid concerns that nationwide legalization could… Read more.

Germany imported a record amount of marijuana for medical and scientific use in 2022, according to fresh data from the country’s Federal Institute for Drugs and Medical Devices (BfArM). While the top-line number suggests the import business is booming, a deeper look shows that 2022 posted the slowest annual growth since the BfArM started reporting cannabis import data in 2018. Moreover, a good chunk of those imports appears to have never reached patients, possibly because of poor quality or product… Read more.

LFLY-4.46%+ Free Alerts, a leading online cannabis marketplace and resource for marijuana users, is shifting its focus from journalism about the industry to offering consumer-oriented content, which will include product information. WeedWeek and newsletter Cultivated were the first to report the news. Consumer Education Is The Way Leafly aims to shift its content strategy towards being more focused on products and marketplaces, with the goal of providing consumers with valuable information to help them make better purchasing decisions, a company spokesperson told MJBizDaily. Former Leafly… Read more.

A recent study by the University of Sydney’s Lambert Initiative found 37% of respondents who use cannabis medically received a legal prescription under Australian law. In 2018, that figure was just 2.5%. The researchers found that those who only used prescription cannabis tended to be older, female, and less likely to be employed. Professor Nicholas Lintzeris, the lead researcher for the third Cannabis as Medicine Survey from the Faculty of Medicine and Health at the University of Sydney, said the data… Read more.

Switzerland’s government has approved a trial to legalize the sale and consumption of cannabis and assess the social and economic benefits of regulating cannabis products, CNBC reports. Starting this summer, a test group of 2,100 Zurich residents will be allowed to purchase regulated doses of cannabis for personal use from pharmacies, dispensaries, and social clubs in the city.  As part of the study, participants will be expected to answer a questionnaire every six months on their cannabis consumption habits and health effects. The study is conducted in collaboration… Read more.

Switzerland’s government is one step closer to its yearslong effort to launch a trial program involving the sale and consumption of recreational cannabis. Called “Züri Can – Cannabis with Responsibility,” the study will involve only Zurich and is intended to provide a scientific basis for the development of the country’s cannabis policies. The study was expected to start in autumn 2022 but was delayed because the Federal Office of Public Health and the Cantonal Ethics Committee had yet to give their approval. Only… Read more.

In June last year, Thailand became the first country in Southeast Asia to decriminalize the use of marijuana. It comes after decades of being classified as a Category 5 drug. Cannabis, also known as marijuana, has had a long history in Thailand. Traditionally, the plant was used by locals in their food and medicine.  But in 1935, using marijuana — whether as a drug or otherwise — was criminalized. And until last year, anyone using or possessing marijuana could face… Read more.

Germany could be weeks away from introducing a bill to legalize cannabis under sweeping reforms that would greenlight the consumption and sale of the drug in Europe’s largest economy. Germany’s Health Minister Karl Lauterbach last week said that the plans had received “very good feedback” from the European Commission, the EU’s executive arm, adding that the bill could be announced by the end of March or in early April. “We will soon present a proposal that works, that is, that conforms to… Read more.

Marijuana multistate operator TerrAscend Corp. could become the first U.S. plant-touching company to list on the Toronto Stock Exchange by this summer if the restructuring plan it shared with shareholders and analysts wins TSX approval. And if the company is successful, that potential could trickle down to other U.S. plant-touching cannabis operators, which have been barred from major exchanges because marijuana remains federally illegal in the United States. Massachusetts-based Curaleaf Holdings, for example, has also had discussions with the TSX about the possibility… Read more.

Following years of stalling on the issue of legal cultivation of cannabis for medicinal and industrial purposes, a Brazilian appeals court is set to rule on allowing businesses and farmers to grow cannabis, reported Reuters. What Happened? The Superior Court of Justice (STJ) made its intentions public to reach a final decision on a case that would set a precedent nationwide. Lawyers familiar with the case said until the court's final ruling on the matter, which is expected within the next year, pending cases filed by companies seeking to plant… Read more.

Potency testing on store-bought cannabis flower by a Canadian laboratory has found THC levels significantly lower than the labeled value, sparking an industrywide conversation about how to address inaccurate THC claims. Rob O’Brien, CEO and chief science officer of Kelowna, British Columbia-based licensed cannabis testing laboratory Supra Research and Development, shared the findings from his Canadian potency tests online. O’Brien tested 46 different cannabis flower products, grown by 21 producers, in a variety of package sizes purchased from several different stores in… Read more.

Cannabis retailer High Tide Inc. (NASDAQ: HITI) (TSXV: HITI) (FSE: 2LYA) released first-quarter results Friday, posting a 64% year-over-year revenue increase. "Our Q1 earnings numbers represent the best quarter ever in High Tide’s history in terms of revenue, adjusted EBITDA, and market share growth. Q1 is now our second consecutive quarter of record revenue and adjusted EBITDA and saw a meaningful improvement in our free cash flow position," said CEO Raj Grover. HITI Financial Highlights Revenue increased to $118.1 million in the first… Read more.

Argentina's newly established regulatory body for cannabis is supervising numerous research and development initiatives with the aim of entering the potentially profitable market for cannabis exports. By 2025, the Argentine government aims to generate $500 million in domestic cannabis sales and $50 million in exports. Although the recreational use of cannabis is prohibited, individuals in Argentina can cultivate their plants for medicinal purposes. The government is considering expanding the number of private companies authorized to manufacture cannabis, as this industry has significant… Read more.

Thailand has long been known for its traditional spa treatments that incorporate ancient healing techniques and natural ingredients. But with the legalization of cannabis in June 2022, a new trend is emerging in the world of wellness: cannabis-infused spa treatments. Cannabis-infused spa treatments are quickly becoming a popular way to relax and unwind in Thailand, and for good reason. CBD, one of the primary compounds found in cannabis, may have numerous health benefits, including reducing inflammation and promoting relaxation. At the… Read more.

Mexico’s government on Thursday granted its first-ever license for cannabis cultivation in the country. The Mexican Health Regulatory Agency awarded the license to Xebra Brands which allows it to import and acquire cannabis seeds, cultivate and harvest cannabis, process and produce cannabis, and sell cannabis products both domestically and through export.    The licensing comes two years after the Mexico Supreme Court ruled cannabis prohibition was unconstitutional which led to the passage of cannabis reforms by federal lawmakers.    In a press release, Jay Garnett, CEO of Xebra Brands,… Read more.

 In the early 1960s, a Bulgarian-born scientist named Raphael Mechoulam was caught carrying five kilograms of, as he called it, “superb, smuggled Lebanese hashish” on a bus from Tel Aviv to Rehovot. But he wasn’t planning on smoking the stuff. Mechoulam was a fledgling researcher keen on exploring the science behind cannabis, a stigmatized plant whose specific medical properties were not yet known. Over the decades he became a pioneer in cannabis research, whose findings about the psychoactive substance helped ease… Read more.

Argentina's new cannabis watchdog is overseeing more than 50 projects related to the research and development of cannabis and is establishing a regulatory framework as it bids to enter the potentially lucrative weed export market. "The industry has incredible potential," said Gabriel Gimenez, director of the ARICCAME cannabis agency created in January this year, last week. He said 51 regulated research and development projects are currently taking place around the country, including Cannava in Jujuy province, Agrogenetica Riojana in La Rioja,… Read more.

Adastra Labs, a Langley-based company known for its cutting-edge cannabis and ethnobotanical products, has recently received approval from Health Canada for an amended license. This license permits the lawful possession, production, distribution, and sale of a highly regulated substance. Following decriminalizing personal amounts of controlled substances in British Columbia, Adastra can now interact with up to 250 grams of cocaine and import coca leaves to create and synthesize the substance. As a leading manufacturer and supplier of innovative scientific products, Adastra Labs… Read more.

An increasing amount of cannabis grown by licensed Canadian producers has been lost or stolen over the past five years, new data shared with MJBizDaily shows. Separate data provided by Health Canada, the department responsible for federal health policy, also revealed that thousands of instances of theft have been reported to various levels of police. However, the sum of the missing products – including 2,219 kilograms (4,870 pounds) of dried cannabis – is a small fraction relative to the amount… Read more.

The Benzinga Cannabis Capital Conference, the world's largest gathering of cannabis decision-makers, founders and investors is returning to Miami Beach, Florida on April 11-12, 2023 and Raj Grover, president and CEO of High Tide, will be there. High Tide Inc.  HITI+1.48%+ Free Alerts is Canada’s largest non-franchised retailer of recreational cannabis so you won't want to miss out on what he's got to say about the industry. Need A Business Strategy? Ask A Transparent Negotiator Since starting his first company at the age of 22, Grover established himself as one of Canada’s foremost… Read more.

Since recreational use of cannabis became legal in Canada in 2018, the federal government of that country has imposed a total duty on cannabis products of over 1 billion Canadian dollars ($740 million). Executives expect that the government would ease the tax and excise regime it imposes on the sector as employment and financial losses rise as the milestone is reached. Around CA$862.3 million in total duty on cannabis products was levied by the federal government between the 2018–19 and 2020–21… Read more.

Adastra Labs, a cannabis company based in Langley, British Columbia, announced that it had received approval from Health Canada to include cocaine as a substance that it can legally process, sell, and distribute. B.C. Premier David Eby said he was “astonished” when he became aware of the news, according to CTV News. “The short answer is I was astonished by this announcement. I understand that this company says Health Canada has given them some sort of authorization. It is not part of our… Read more.

Two young entrepreneurs turned their zeal for fizzy drinks and cannabis into a craft beverage brand, using tasteless full-spectrum cannabis as well as organic and simple ingredients. Canada-based Zèle (pronounced zéll) is helping to transform the cannabis beverage game, led by CEO and Formulator Callum Hanton, and National Brand Manager Jonathan Martin. Both were under the age of 20 when Hanton first developed the company’s proprietary technology, and when they launched the brand. “We have overcome many hurdles to get to where we… Read more.

While nearly every street corner in tourist areas of Thailand is selling cannabis legally now (a recent driver in Samui spotted nine shops in a two-block stretch), not everyone is in favour of it, especially politicians. Politicians believe the rushed legalization and subsequent free-for-all is a strong talking point against the Bhumjaithai Party, who pushed for decriminalization. Now, the Democrat Party has launched its election campaign with a vow to reverse the blanket legalization of cannabis. The hardline anti-cannabis party platform comes despite being a coalition partner of the Bhumjaithai Party in… Read more.

Canada’s cannabis consumers spent 4.52 billion Canadian dollars ($3.35 billion) on regulated adult-use products in 2022, growing 17.9% over 2021’s sales total, according to new retail sales data released Tuesday by Statistics Canada. The year-over-year sales increase came as the number of licensed cannabis stores in Canada increased. In 2021, Canadians bought CA$3.83 billion worth of recreational cannabis from licensed stores. Despite the notable year-over-year increase, the pace of cannabis sales growth in Canada appears to be slowing, said Michael… Read more.

Amsterdam Bans Weed Smoking in the Red Light District Amsterdam's red light district has been a haven for tourists seeking liberation from the rules and regulations of their mundane lives. However, the residents of this vibrant district are keen to tone down the wild atmosphere. The city council recently announced that cannabis use would be prohibited on the streets of the red light district, citing the disruptive and dreary ambiance that often lingers in the area during the night. This new regulation… Read more.

WINNIPEG, Manitoba, Feb. 13, 2023 (GLOBE NEWSWIRE) -- DELTA 9 CANNABIS INC.  DNDLTNF ("Delta 9" or the "Company") is pleased to announce that it has completed its first shipment of bulk dried cannabis flower to a customer in Australia, marking the Company's first export of dried cannabis flower material to an international market. The Company has also received seven additional export permits from Health Canada and intends to complete multiple shipments of dried cannabis flower and cannabis extracts to the Australian… Read more.

Uruguay, the first country in the world to legalize cannabis for adult use, is now exporting low-THC cannabis, or hemp, to the United States. According to information procured exclusively ahead of an official announcement, CEND, a global provider of customized technological infrastructure and certification platforms for the cannabis industry and other regulated industries, has completed its inaugural large-scale shipment of low-THC legal cannabis (or hemp) from Uruguay to the United States. While smaller exports had been completed before, the market… Read more.

The Australian government has rescheduled the psychedelics psilocybin and MDMA to provide access to people with post-traumatic stress disorder (PTSD) and treat-resistant depression. The substances aren’t being legalized for broad use, but by placing them in Schedule 8 for therapeutic use under the country’s drug code, psychiatrists who meet the required standards will be able to prescribe the psychedelics. The drugs will remain in the stricter Schedule 9 for unauthorized use. “The decision acknowledges the current lack of options for… Read more.

In Switzerland's bustling metropolis, Basel, a rare opportunity has arisen. The city has just launched its pilot cannabis project, granting exclusive access to a privileged few. A select group of several hundred individuals will now be able to indulge in recreational marijuana, easily procured at local pharmacies. Swiss authorities gave the green light for a daring experiment last year - a pilot project exploring uncharted territories. The Federal Office of Public Health eagerly embraced this endeavor, hoping to gain valuable insights into… Read more.

The medical cannabis facility is expected to gradually reach full capacity soon to supply a wide range of cannabis products. Since June 2018, when the legal framework for licensing plants for cultivation and production of finished medicinal cannabis products came into effect, the General Secretariat of Industry of the Ministry of Development and Investment has licensed 134 cannabis crops for medical purposes across Greece. The investment by Tikun Europe, a subsidiary of Israel-based Tikun Olam, was welcomed by Greek Minister… Read more.

Former cartel bosses, drug traffickers and police officers took the stand this week in the trial of Genaro García Luna, Mexico’s former federal security minister and architect of the country’s war on drugs, which he carried out while publicly working with the DEA and secretly working with the world most powerful drug cartel capo, Joaquín “El Chapo" Guzmán.  No, this is not a script for the fourth season of Netflix’s 'El Chapo' series though it would make an intriguing Mexican telenovela as the most trusted… Read more.

Health Canada has begun asking some federally licensed marijuana companies to stop selling certain ingestible cannabis products the regulatory agency says are incorrectly classified and labeled as “extracts” rather than “edibles,” MJBizDaily has learned. The move could cost cannabis businesses millions of dollars, Canadian industry sources say, b