AGCO Disqualifies Ontario Lottery Winner
Ontario’s Alcohol and Gaming Commission has disqualified one of the winners of the lottery it held to apply for cannabis retail licenses. The winner, Gary Hatt, had his license revoked after breaking a rule that prohibits someone from changing the name of the person on an application or the corporate structure of the company operating the store. The commission had selected 25 winners through the lottery process last month, but will now be offering up a license to a waitlisted winner.
Coming Soon to a Town Near You… or Not
CTV published an article last week revealing cities and addresses for the first 3 cannabis retail stores in Ontario. The Toronto shop would be located in the city's Yorkville neighbourhood at 20 Cumberland St., the Brampton store would be located at 186 Main St., near a city mall, and the St. Catharines store would open at 33 Lakeshore Rd. If these locales are not near you, cross fingers that one of the remaining 22 store locations will be nearer to home. JADEO readers can find updates on store locations as the countdown to April 1st rolls on.
Shoppers Drug Market to sell Zenabis Medical Products
While previously only associated with LP Canopy Growth, Shoppers Drug Mart is now expanding their supply agreements and has announced Zenabis as a new supplier. Both companies expect to be able to start selling within a month but are still waiting to hear about an inspection date before Zenabis will be able to supply Shoppers with its products.
LP Zenabis will supply Shoppers Drug Mart with dried cannabis buds and eventually cannabis oil and other products to sell online. Growing in Atholville, New Brunswick, this new deal with Shoppers drug mart will require Zenabis to expand its current workforce of 400 to 2,500.
Aurora Makes First Export to the UK
Aurora Cannabis reached a major milestone on the global medical cannabis front this week by completing its first commercial export of cannabis oil to the United Kingdom. The UK’s new legal cannabis framework came into effect on November 1, 2018, however, it wasn’t until this past week that the first Canadian grown cannabis was sold and dispensed in the UK. Specialist doctors in the UK can legally issue prescriptions for cannabis-based medicines when they agree that their patients could benefit from this treatment.
Chief Global Business Development Officer, Neil Belot explains: "Being one of the first Canadian companies to commercially supply cannabis-based medicines into the UK under the new legal framework reflects Aurora's ability to do business in international markets that have complex and evolving regulatory systems. Aurora continues to grow its international footprint, which now includes the UK, a country with a population of approximately 66 million people. Regardless of the barriers, we may be faced with, we are focused on helping patients around the world get access to the medicine they need."
Dr. Shane Morris, Senior Vice President of Product Development and Regulatory Affairs added, "We are thrilled to have successfully navigated the complexities of the UK's new regulatory framework to be able to supply high quality, pharmaceutical grade cannabis-based medicines into the UK from one of our EU-GMP certified facilities in Canada."
NYC Health Department Bans CBD Food & Drink
The New York City Health Department has announced a ban and resulting crackdown on CBD-infused foods and beverages throughout the city. This decision has left many entrepreneurs worried and confused about the state of CBD regulations in the city.
In the statement they describe how: “Restaurants in New York City are not permitted to add anything to food or drink that is not approved as safe to eat,” the statement read. “The Health Department takes seriously its responsibility to protect New Yorkers’ health. Until cannabidiol (CBD) is deemed safe as a food additive, the Department is ordering restaurants not to offer products containing CBD.”
Adding Cannabis to Your Company’s Name isn’t the Wisest Idea
Bloomberg reported that of the eleven Canadian penny stocks that added “cannabis” to their name, the companies’ shares dropped an average of 30% through Feb. 2, and the only one – Trulieve Cannabis Corp. – rose through yesterday’s close. Prior to the name change, more than half of these penny stocks were involved in the precious metals business.
Fire & Flower Retail Chain to Go Public
Cannabis retailer Fire & Flower will begin trading on the TSX Venture on or around February 19 under the “FAF” symbol. Fire & Flower, which operates nine cannabis retailers across Canada, also provided details of its two upcoming Ontario locations in a regulatory filing.