Cronos Group Inc (NASDAQ:CRON) Speaks Out On The Latest Public Offering

Cronos Group Inc (NASDAQ:CRON) Speaks Out On The Latest Public Offering

Cronos Group Inc (NASDAQ:CRON) has today unveiled details about an AUD$20 million initial public offering linked to Cronos Australia Limited. In line with this deal, Cronos Australia will be issuing out a total of 40 million new shares. If all plays out according to plan, each share will be sold at a rate of AUD$0.50 per share.

A close outlook

This news comes at a
time when Cronos Australia is looking forward to getting listed on the
Australian Securities Exchange. This might be taking place on November 2019.

Cronos Australia
happens to be a joint venture between the NewSouthern Capital Pty Ltd and
Cronos Group. Peter Righetti and Rodney Cocks are its top leaders and are quite
happy with the launch. They view it as a major milestone on the part of Cronos
Group. The business is undoubtedly very much dedicated to pushing cannabis
research, production, and distribution to the next level. This group’s target
is to see to it that soon it can export its products to serve customers on a
global scale.

The Chief Executive
Officer of Cronos Group Mike Gorenstein, has spoken about the recent move. He
says that he is quite pleased by the offering because it will see Cronos Group
succeed in its quest to deliver value to the stakeholders.

Planning for the future

The other thing will
be for Cronos Group to continue being one of the major forces supporting Cronos
Australia’s growth. This company says that it will continue directing its
efforts to activities that will help it expand to become a market leader. The medicinal
cannabis segment is quite dynamic, especially in the Asia-Pacific region.
However, Cronos Australia asserts that nothing will stand on its way to taking
lead in the competitive markets.

Activities are still
ongoing in line with the completion of the Cronos Australia IPO. In the end,
Cronos Group will be expected to take up almost 31 percent of the issued
capital of Cronos Australia. On the other hand, Cronos Australia will close
with an initial market capitalization adding up to AUD$64.4 million. All in
all, anything that happens will be subject to the guiding terms and conditions.

Published at Mon, 21 Oct 2019 12:07:25 +0000

A2LA Accredits Ohio’s North Coast Analytical Laboratories and North Coast Testing Laboratories to ISO/IEC 17025

A2LA Accredits Ohio’s North Coast Analytical Laboratories and North Coast Testing Laboratories to ISO/IEC 17025

Georgia Gov. Brian Kemp signed a bill in April that established a regulated system for the production, processing and sale of medical cannabis oil, which was supposed to allow the state’s patients easier access to the oil, which they have legally been able to possess–but not purchase–since 2015.

Now, six months later, this medical cannabis expansion plan is on hold until Kemp and other top state officials appoint members to a commission to oversee the program.

House Bill 324, the legislation that legalized the production and sale of medical cannabis oil in the state, created the Georgia Access to Medical Cannabis Commission, a seven-member group charged with overseeing the state’s medical cannabis program, according to The Atlanta Journal-Constitution. The commission is responsible for choosing which businesses can grow cannabis and developing licensing requirements for retailers, the news outlet reported.

Aides to Kemp, Lt. Gov. Geoff Duncan and House Speaker David Ralston have not indicated why no members have been appointed to the commission, according to The Atlanta Journal-Constitution, although the news outlet pointed out that the regulatory body is a start-up and therefore may take more time to get up and running than boards and agencies in other states that may have had built-in procedures and existing members. State officials have received a flood of applications for the seven spots on the commission, The Atlanta Journal-Constitution reported, and are considering more than 50 candidates.

H.B. 324 established strict requirements for appointments to the commission, according to the news outlet, including a rule that commissioners cannot have any ownership stake or other financial interest in any cannabis company in the state during their term and five years after it ends.

When the commission does get up and running, it will license up to six private companies and two universities to grow cannabis and process it into low-THC medical cannabis oil (which must contain less than 5-percent THC). The oil will then be sold to the state’s registered patients through state-approved dispensaries or pharmacies.

When the law passed in April, advocates celebrated the fact that Georgia’s patients would finally be able to obtain medical cannabis oil within the state.

“They don’t have to worry about where it’s going to come from,” Chris Lindsey, legislative counsel for the Marijuana Policy Project, told Cannabis Business Times when Kemp signed H.B. 324 into law. “They don’t have to rely on people who are breaking the law to get it to them, and that’s a pretty big deal.”

Published at Mon, 21 Oct 2019 19:39:00 +0000

New Mexico Work Group Submits Recommendations to Governor on Adult-Use Cannabis Program

New Mexico Work Group Submits Recommendations to Governor on Adult-Use Cannabis Program

CALGARY, Oct. 15, 2019 /CNW/ – PRESS RELEASE – Westleaf Inc. has announced that its large-scale cannabis extraction, processing and product formulation facility, The Plant by Westleaf Labs, received a standard processing licence from Health Canada and is ready to start operations immediately. The Standard Processing Licence will allow Westleaf to process bulk cannabis to create and sell derivative products through a variety of commercial arrangements.

“This is a major catalyst for Westleaf to generate material revenue through the sale of derivative cannabis products and by offering contract manufacturing services,” said Scott Hurd, president and CEO of Westleaf. “The issuance of the Standard Processing Licence is timely as Westleaf prepares to launch its cannabis 2.0 products upon legalization which is expected on Oct. 17, 2019.”

Cannabis 2.0 is the legalization of the next wave of recreational and medicinal cannabis products currently set to begin in Canada on Oct. 17, 2019. It will allow cannabis manufacturers and retailers to provide consumers with a wide range of new cannabis products including high-quality and safe vape cartridges, edibles, concentrates and other oil products.

The 15,000-square-foot Phase I of the facility has been built to European Union good manufacturing practice (GMP) specifications and is designed to process up to approximately 65,000 kgs of dried cannabis per annum into anticipated high quality edibles, concentrates, vape and oil products, including Westleaf’s first in-house product, a line of vape pens under the brand General Admission, as well as products under the company’s other house brands, Backstage, and wellness brand, Loon. The Plant has an additional 45,000 square feet of space to expand extraction capacity as well as add additional product lines based on consumer preferences once the additional products are licensed post Oct. 17, 2019.

With the pending legalization of cannabis derivative products, Westleaf anticipates strong industry wide demand for efficient extraction, processing and formulation capacity. The scalability of The Plant ensures Westleaf is well positioned to capitalize on the expected demand growth for contract manufacturing, tolling arrangements, white labeling, and in-house product formulation. In July 2019, Westleaf signed its first extraction contract with Delta 9 for white label derivative cannabis products worth at minimum approximately $4 million per annum with an option to increase up to $16 million per annum.

“The Delta 9 contract is the first of what we hope to be a number of similar arrangements between licensed producers, product developers and others who are preparing for the coming legalization of derivative cannabis products such as vapes, edibles, topicals and beverages, or what is called Cannabis 2.0,” noted Hurd. “We are preparing Westleaf to be in a strong position to capitalize on the expected spike in consumer demand for these products later this year and into 2020 and beyond.”

In addition, Westleaf has now satisfied ATB’s condition precedent (receipt of Health Canada standard processing licence) to draw the previously announced $3.7 million of additional capital in the form of a $2.7 million term loan and a $1-million line of credit for working capital purposes.

Westleaf Operational Updates:

  • Prairie Records – Named the top retailer in Canada by the Grow UP Conference and Expo, Prairie Records is generating revenue through three stores in the Saskatoon region and one in Calgary, with up to 20 more locations under development including downtown Calgary and Edmonton and a flagship store in the tourist centre of Banff, Alberta;
  • Thunderchild Cultivation – Phase I (80,000 square feet) of the large-scale cultivation facility in Battleford, Saskatchewan is fully funded and on track for completion and submission of its Health Canada evidence package for a cannabis standard cultivation licence by the end of 2019.

Published at Fri, 18 Oct 2019 19:05:00 +0000

Colorado Shows There Is NO CEILING For The Cannabis Industry

Colorado Shows There Is NO CEILING For The Cannabis Industry

Publicly listed cannabis companies continue to see their valuations driven down. It’s a combination of aggressive short-selling and negative investor sentiment from the relentlessly pessimistic (and grossly inaccurate) coverage of the mainstream media.

Back in the real world, the cannabis industry is demonstrating growth potential that would be the envy of most other industries. As we have done consistently, The Seed Investor points to Colorado.

Colorado has the world’s most-mature fully legal cannabis market. It has (already) made the most progress in phasing out the cannabis black market in that state.

It has achieved this by doing a better job in regulating its legal cannabis industry. More specifically, it has resisted the temptation of most states (and most Canadian provinces) to over-regulate its legal cannabis industry.

Beyond this, the numbers speak for themselves. The Seed Investor has just reported that Colorado has set another monthly record in sales revenues for its legal cannabis industry.
 

  • August’s sales record was the 3rd consecutive monthly record, and 4th in the last 5 months
  • The new record represented a 4% gain in month-over-month sales
  • At the August rate of cannabis sales, Colorado’s legal cannabis sector is now a $2 billion per year industry

Given the trend in sales, $2 billion in legal cannabis revenues over the next 12 months looks very conservative. This is remarkable.

It wasn’t until 2016 that Colorado’s annual cannabis revenues first exceeded $1 billion. Revenues can be expected to top $2 billion in 2020, barring a sharp reversal of the current trend.

In more general terms, what this says to the legal cannabis industry (and cannabis investors) is that this is a sector that has no ceiling in terms of consumer sales, over any short- or medium-term horizon. Contrast this with a projection for Colorado’s legal cannabis industry from business information leader, Statista.

In an estimate for 2016 – 2025, Statista saw Colorado’s cannabis revenues going from $1.34 billion in 2016 to $1.94 billion by 2025 (much too low). In particular, Statista predicted that Colorado’s cannabis revenues would start leveling off by 2018 and reach a plateau.

Ironically, Colorado’s cannabis revenues did level off in 2018, rising only from $1.51 billion to $1.55 billion. It’s the only year since Colorado fully legalized cannabis in 2014 that annual revenues haven’t risen by at least 15%.

In 2019, legal sales are once again on pace to show 15+% annual growth.

Six years into full cannabis legalization, cannabis sales in Colorado are currently accelerating. That is what a well-regulated cannabis industry looks like.

As The Seed Investor has pointed out in a previous article, if cannabis was already full legal across the U.S. (and properly regulated like in Colorado), this would be a $108 billion industry in the United States today.

In Canada, the province of Alberta appears to be following in the footsteps of Colorado. The province is Canada’s clear (per capita) sales leader, and it has already opened up over 270 cannabis retail locations in less than one year of full legalization.

Despite the delays in several Canadian provinces to open retail cannabis stores for consumers, Canada’s cannabis industry is also demonstrating strong sales growth, with a double-digit increase in sales reported again for the month of July.

Overall, Canada’s legal cannabis industry is on track to more than triple in size in the first full year of legalization. Myopic and backward-looking ‘analysis’ from the mainstream media on cannabis companies and the cannabis sector simply ignores these fundamentals.

This sets up the sector for a sharp reversal (higher) in marijuana stock valuations as increasing revenues collide with falling share prices. We’ve seen no reversal yet.

However, experienced investors know that markets can remain “irrational” for extended periods. This is particularly true when investors have difficulty in finding reliable information on particular companies, or a particular sector.

Reliable information on cannabis and the cannabis industry is in short supply. This disconnect between valuations and sector fundamentals represents an enormous opportunity for contrarian investors.

Big Media continues to obsess about the less than 0.002% of U.S. cannabis consumers who have experienced health issues from poorly regulated vapes in the United States. But it virtually ignores the 0.13% of Americans who die from tobacco use every year.

For investors who tire of this Trivial Pursuit, spend more time looking at the facts from Colorado’s dynamic cannabis industry. And spend less time on the vacuous, anti-cannabis Fake News from the mainstream media.

 

Published at Fri, 18 Oct 2019 22:14:11 +0000

Oregon Appeals Court Blocks Governor’s Ban on Flavored Tobacco Vape Products

Oregon Appeals Court Blocks Governor’s Ban on Flavored Tobacco Vape Products

CALGARY, Oct. 15, 2019 /CNW/ – PRESS RELEASE – Westleaf Inc. has announced that its large-scale cannabis extraction, processing and product formulation facility, The Plant by Westleaf Labs, received a standard processing licence from Health Canada and is ready to start operations immediately. The Standard Processing Licence will allow Westleaf to process bulk cannabis to create and sell derivative products through a variety of commercial arrangements.

“This is a major catalyst for Westleaf to generate material revenue through the sale of derivative cannabis products and by offering contract manufacturing services,” said Scott Hurd, president and CEO of Westleaf. “The issuance of the Standard Processing Licence is timely as Westleaf prepares to launch its cannabis 2.0 products upon legalization which is expected on Oct. 17, 2019.”

Cannabis 2.0 is the legalization of the next wave of recreational and medicinal cannabis products currently set to begin in Canada on Oct. 17, 2019. It will allow cannabis manufacturers and retailers to provide consumers with a wide range of new cannabis products including high-quality and safe vape cartridges, edibles, concentrates and other oil products.

The 15,000-square-foot Phase I of the facility has been built to European Union good manufacturing practice (GMP) specifications and is designed to process up to approximately 65,000 kgs of dried cannabis per annum into anticipated high quality edibles, concentrates, vape and oil products, including Westleaf’s first in-house product, a line of vape pens under the brand General Admission, as well as products under the company’s other house brands, Backstage, and wellness brand, Loon. The Plant has an additional 45,000 square feet of space to expand extraction capacity as well as add additional product lines based on consumer preferences once the additional products are licensed post Oct. 17, 2019.

With the pending legalization of cannabis derivative products, Westleaf anticipates strong industry wide demand for efficient extraction, processing and formulation capacity. The scalability of The Plant ensures Westleaf is well positioned to capitalize on the expected demand growth for contract manufacturing, tolling arrangements, white labeling, and in-house product formulation. In July 2019, Westleaf signed its first extraction contract with Delta 9 for white label derivative cannabis products worth at minimum approximately $4 million per annum with an option to increase up to $16 million per annum.

“The Delta 9 contract is the first of what we hope to be a number of similar arrangements between licensed producers, product developers and others who are preparing for the coming legalization of derivative cannabis products such as vapes, edibles, topicals and beverages, or what is called Cannabis 2.0,” noted Hurd. “We are preparing Westleaf to be in a strong position to capitalize on the expected spike in consumer demand for these products later this year and into 2020 and beyond.”

In addition, Westleaf has now satisfied ATB’s condition precedent (receipt of Health Canada standard processing licence) to draw the previously announced $3.7 million of additional capital in the form of a $2.7 million term loan and a $1-million line of credit for working capital purposes.

Westleaf Operational Updates:

  • Prairie Records – Named the top retailer in Canada by the Grow UP Conference and Expo, Prairie Records is generating revenue through three stores in the Saskatoon region and one in Calgary, with up to 20 more locations under development including downtown Calgary and Edmonton and a flagship store in the tourist centre of Banff, Alberta;
  • Thunderchild Cultivation – Phase I (80,000 square feet) of the large-scale cultivation facility in Battleford, Saskatchewan is fully funded and on track for completion and submission of its Health Canada evidence package for a cannabis standard cultivation licence by the end of 2019.

Published at Fri, 18 Oct 2019 19:12:00 +0000

Colorado and Washington Regulators Propose Vape Rules, Pennsylvania Lawmakers Introduce New Cannabis Legalization Bill: Week in Review

Colorado and Washington Regulators Propose Vape Rules, Pennsylvania Lawmakers Introduce New Cannabis Legalization Bill: Week in Review

The Oregon Court of Appeals has halted Gov. Kate Brown’s ban on flavored tobacco vape products, although the ruling does not apply to cannabis products.

The Oct. 17 ruling placed a temporary stay on the ban of tobacco-based vaping products, which are sold under the oversight of the Oregon Health Authority, but leaves the ban in place on cannabis vaping products, which are regulated by the Oregon Liquor Control Commission, according to an Oregon Live report.

Vape businesses and an industry organization called the Vapor Technology Association challenged the ban Oct. 16, arguing that it would cause them to “suffer severe and irreparable harm long before the [ban] could be subjected to full judicial review,” Oregon Live reported.

“Petitioners assert, as a result of the rule, they, along with number other similarly situated businesses, will be forced to close within weeks,” Appellate Commissioner Theresa Kidd wrote in her ruling.

Smokeless Solutions and Vape Crusaders said that the ban would force their businesses to close within two weeks, according to Oregon Live, and argued that regulators do not have the legal standing to enforce the ban.

In response, the Oregon Health Authority issued a statement saying that the ban is “an evidence-based strategy to prevent youth, as well as adults attracted to flavors, from becoming exposed to the health risks from vaping products and from becoming addicted to nicotine,” Oregon Live reported. Although the agency will temporarily suspend enforcement of the ban on tobacco vaping products, it will continue working on legislative proposals that would permanently ban flavored vapes, increase industry oversight and discourage Oregon residents from vaping, according to Oregon Live.

Brown issued an executive order Oct. 4 that announced the six-month ban on all flavored vaping products in the state in response to the growing number of vape-related lung disease cases and deaths across the country.

Similarly, Massachusetts Gov. Charlie Baker announced a four-month ban on all vape sales late last month. Earlier this week, Colorado regulators proposed rules to prohibit polyethylene glycol (PEG), vitamin E acetate and medium chain triglycerides (MCT oil) in cannabis concentrates or products that are meant to be inhaled. Washington also adopted emergency rules this week that require all cannabis licensees to disclose all compounds used to produce or added to inhaled concentrates and extracts, and retailers in the state are now required to post consumer warnings.

Published at Sat, 19 Oct 2019 14:00:00 +0000

Cannabis Justice is Coming to America

Cannabis Justice is Coming to America

…and with it will be full cannabis legalization

Cannabis justice is finally coming to the United States. Why should investors care?

It’s because cannabis legalization in the U.S. has now become inextricably connected with ending the persecution of “marijuana” users.  And (increasingly) it is the demand for cannabis justice that is driving calls for full legalization. More on this later.

Unless someone has been vacationing on the Dark Side of the Moon, they know that cannabis Prohibition is (gradually) coming to an end in the United States. But it’s not ending because of the will of the U.S. government. It is coming in spite of it.

U.S. states have been forced by the courts to provide Americans with access to cannabis for medicinal purposes. State populations forced cannabis legalization ballots through sheer numbers of supporters – and then forced the state government to legalize cannabis when the ballot received majority support.

Finally, more than 20 years after California was first forced to legalize cannabis for medicinal purposes, we are now seeing state governments actually move to legalize cannabis on their own initiative.

The U.S. federal government, however, continues to live in its own little fantasy world with respect to cannabis. In that fantasy world, cannabis = heroin.

There was never the tiniest bit of rationality to this legal status during all the decades of cannabis Prohibition. The difference (in 2019) is that most Americans now understand the absurdity of current laws.

A broad and rising majority of the American people (roughly 2 out of 3) support full legalization in the United States. Even a majority of Republican voters (56%) now support cannabis legalization. But the current administration of anti-cannabis dinosaurs has refused to embrace the will of the People and pursue national legalization of cannabis.

The result?

The current vaping health issue that has hospitalized hundreds of Americans and killed more than 20. This regulatory failure is a direct consequence of cannabis Prohibition. The blood of the victims is on the hands of this Republican government.

Even as the American people demand an end to cannabis Prohibition (for many reasons), a parallel demand is surfacing. The demand for cannabis justice.

There are several elements to this demand.
 

  1. Expunging cannabis convictions in U.S. states that have been enlightened enough to already put an end to cannabis Prohibition.
  2. In states not enlightened enough to have ended Prohibition, to stop using archaic anti-cannabis laws as a tool of racial oppression.
  3. Simple fairness.

Virtually every state bill to legalize cannabis this year has contained some sort of “expungement” provision to remove cannabis-based convictions from criminal records. Correcting a mistake: a mistake that has often had devastating consequences on those convicted.

Illinois, in particular, has passed a very progressive cannabis legalization bill that includes expungement and other social equity provisions. It is now difficult to muster sufficient votes for legalization initiatives that don’t include the expungement of cannabis-based convictions.

Then there are the unenlightened states that continue to endorse Prohibition and continue to prosecute/persecute cannabis “offenders”. Here we are now seeing (for the first time) grassroots justice for Americans still being prosecuted for cannabis use/possession.

Louisiana is not only a Prohibition state. It is especially notorious for its racially slanted record in cannabis arrests and prosecutions.

In a recent court case there, a New Orleans prosecutor was seeking a 10 – 15 year prison sentence for an African American accused of cannabis possession. The problem? The state was unable to find a jury that was willing to consider such an extreme sentence.

As potential jurors were dismissed (and the state had run out of candidates), the prosecution had two choices. It could negotiate a (favorable) deal with the accused. Or, it could declare a mistrial and the defendant would simply walk away.

The prosecution chose “deal”. But instead of the 10 – 15 year prison sentence it was after, the defendant received a 10-day sentence – served on weekends. Grassroots cannabis justice.

At the federal level, many Democrats are now outspoken that national legalization can only proceed if it is accompanied by cannabis justice. Forget about all the previous Democrat administrations that happily endorsed the War on Pot. Today, Democrats are born-again “cannabis justice” hawks.

Cannabis legalization can only take place (nationally) in the U.S. if it includes cannabis justice.

Some investors may see this as a liability. But this is perhaps too narrow a perspective.

What we are now seeing in the United States – and demonstrated in Louisiana – is (belated) anger from the American people toward the persecution of cannabis users.

Cannabis is non-toxic and non-addictive. In comparison, alcohol and tobacco (the two legal recreational drugs) are toxic and addictive. They combine to kill more than 500,000 Americans every year.

If a rational society was to legalize only one drug for social use, that drug would be cannabis. Not tobacco. Not alcohol.

Cannabis justice demands cannabis legalization. Simple fairness demands cannabis legalization.

Americans now understand this. The importance here for cannabis investors and the U.S. cannabis industry?

As the 2020 election approaches, it is unlikely that any presidential candidate that does not support full cannabis legalization and cannabis justice is electable.
 

Published at Fri, 18 Oct 2019 22:15:53 +0000

Canopy Growth Launches 27th Retail Banner Location: Welcome Tokyo Smoke – Brandon, Manitoba

Canopy Growth Launches 27th Retail Banner Location: Welcome Tokyo Smoke – Brandon, Manitoba

Canopy Growth Corporation (TSX: WEED) (NYSE: CGC) is pleased to launch its 27th retail location and introduce customers in Brandon, Manitoba to its second location, conveniently located in Brandon’s Corral Centre.

Canopy Growth Launches 27th Retail Banner Location: Welcome Tokyo Smoke - Brandon, Manitoba (CNW Group/Canopy Growth Corporation)

“Retail presence is a key driver of brand recognition in a competitive market,” said Rade Kovacevic, President, Canopy Growth. “With twenty-seven locations already open and many more in the works we are confident we’re establishing a national presence that can pay dividends for years to come.”

The province of Manitoba has effectively rolled out their retail strategy and has ensured that the brands Canadians know and trust are easily accessible within each community. As we have seen, having physical retail locations has proven to be the most effective way to build brand loyalty by creating reliable educational hubs, supplied with high-quality, regulated products.

Tokyo Smoke, Canada’s award-winning and design-focused cannabis retailer is now present across two provinces, while Canopy’s second retail banner, Tweed, is located across four provinces. With 27 retail stores either owned or licensed, Canopy’s retail banners represent the 4thlargest cannabis retail network in Canada.

The Tokyo Smoke store team looks forward to meeting its neighbours and creating a hub for adult recreational cannabis education and culture. The company is committed to building on its retail presence to drive brand awareness and continue to offer consumers convenient access to quality cannabis products, while combatting the black market through an effective retail structure.

Here’s to Future (retail) Growth.

About Canopy Growth Corporation
Canopy Growth (TSX:WEED, NYSE:CGC) is a world-leading diversified cannabis, hemp and cannabis device company, offering distinct brands and curated cannabis varieties in dried, oil and Softgel capsule forms, as well as medical devices through Canopy Growth’s subsidiary, Storz & Bickel GMbH & Co. KG. From product and process innovation to market execution, Canopy Growth is driven by a passion for leadership and a commitment to building a world-class cannabis company one product, site and country at a time. Canopy Growth has operations in over a dozen countries across five continents.

Canopy Growth’s medical division, Spectrum Therapeutics is proudly dedicated to educating healthcare practitioners, conducting robust clinical research, and furthering the public’s understanding of cannabis, and has devoted millions of dollars toward cutting edge, commercializable research and IP development. Spectrum Therapeutics sells a range of full-spectrum products using its colour-coded classification Spectrum system as well as single cannabinoid Dronabinol under the brand Bionorica Ethics.

Canopy Growth operates retail stores across Canada under its award-winning Tweed and Tokyo Smoke banners. Tweed is a globally recognized cannabis brand which has built a large and loyal following by focusing on quality products and meaningful customer relationships.

From our historic public listing on the Toronto Stock Exchange and New York Stock Exchange to our continued international expansion, pride in advancing shareholder value through leadership is engrained in all we do at Canopy Growth. Canopy Growth has established partnerships with leading sector names including cannabis icons Snoop Dogg and Seth Rogen, breeding legends DNA Genetics and Green House Seeds, and Fortune 500 alcohol leader Constellation Brands, to name but a few. Canopy Growth operates eleven licensed cannabis production sites with over 10.5 million square feet of production capacity, including over one million square feet of GMP certified production space. For more information visit www.canopygrowth.com

Notice Regarding Forward Looking Statements
This news release contains “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation. Often, but not always, forward-looking statements and information can be identified by the use of words such as “plans”, “expects” or “does not expect”, “is expected”, “estimates”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements or information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Canopy Growth or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements or information contained in this news release. Examples of such statements include statements with respect to future product format offerings. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information, including the Company’s ability to satisfy provincial sales contracts or provinces purchasing all cannabis allocated to them, and such risks contained in the Company’s annual information form dated June 25, 2019 and filed with Canadian securities regulators available on the Company’s issuer profile on SEDAR at www.sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking information or forward-looking statements in this news release are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed time frames or at all. The forward-looking information and forward-looking statements included in this news release are made as of the date of this news release and the Company does not undertake an obligation to publicly update such forward-looking information or forward-looking information to reflect new information, subsequent events or otherwise unless required by applicable securities laws.

Cision

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SOURCE Canopy Growth Corporation

Published at Fri, 18 Oct 2019 12:30:08 +0000

Cannabis Justice is Coming to America

Cannabis Justice is Coming to America

…and with it will be full cannabis legalization

Cannabis justice is finally coming to the United States. Why should investors care?

It’s because cannabis legalization in the U.S. has now become inextricably connected with ending the persecution of “marijuana” users.  And (increasingly) it is the demand for cannabis justice that is driving calls for full legalization. More on this later.

Unless someone has been vacationing on the Dark Side of the Moon, they know that cannabis Prohibition is (gradually) coming to an end in the United States. But it’s not ending because of the will of the U.S. government. It is coming in spite of it.

U.S. states have been forced by the courts to provide Americans with access to cannabis for medicinal purposes. State populations forced cannabis legalization ballots through sheer numbers of supporters – and then forced the state government to legalize cannabis when the ballot received majority support.

Finally, more than 20 years after California was first forced to legalize cannabis for medicinal purposes, we are now seeing state governments actually move to legalize cannabis on their own initiative.

The U.S. federal government, however, continues to live in its own little fantasy world with respect to cannabis. In that fantasy world, cannabis = heroin.

There was never the tiniest bit of rationality to this legal status during all the decades of cannabis Prohibition. The difference (in 2019) is that most Americans now understand the absurdity of current laws.

A broad and rising majority of the American people (roughly 2 out of 3) support full legalization in the United States. Even a majority of Republican voters (56%) now support cannabis legalization. But the current administration of anti-cannabis dinosaurs has refused to embrace the will of the People and pursue national legalization of cannabis.

The result?

The current vaping health issue that has hospitalized hundreds of Americans and killed more than 20. This regulatory failure is a direct consequence of cannabis Prohibition. The blood of the victims is on the hands of this Republican government.

Even as the American people demand an end to cannabis Prohibition (for many reasons), a parallel demand is surfacing. The demand for cannabis justice.

There are several elements to this demand.
 

  1. Expunging cannabis convictions in U.S. states that have been enlightened enough to already put an end to cannabis Prohibition.
  2. In states not enlightened enough to have ended Prohibition, to stop using archaic anti-cannabis laws as a tool of racial oppression.
  3. Simple fairness.

Virtually every state bill to legalize cannabis this year has contained some sort of “expungement” provision to remove cannabis-based convictions from criminal records. Correcting a mistake: a mistake that has often had devastating consequences on those convicted.

Illinois, in particular, has passed a very progressive cannabis legalization bill that includes expungement and other social equity provisions. It is now difficult to muster sufficient votes for legalization initiatives that don’t include the expungement of cannabis-based convictions.

Then there are the unenlightened states that continue to endorse Prohibition and continue to prosecute/persecute cannabis “offenders”. Here we are now seeing (for the first time) grassroots justice for Americans still being prosecuted for cannabis use/possession.

Louisiana is not only a Prohibition state. It is especially notorious for its racially slanted record in cannabis arrests and prosecutions.

In a recent court case there, a New Orleans prosecutor was seeking a 10 – 15 year prison sentence for an African American accused of cannabis possession. The problem? The state was unable to find a jury that was willing to consider such an extreme sentence.

As potential jurors were dismissed (and the state had run out of candidates), the prosecution had two choices. It could negotiate a (favorable) deal with the accused. Or, it could declare a mistrial and the defendant would simply walk away.

The prosecution chose “deal”. But instead of the 10 – 15 year prison sentence it was after, the defendant received a 10-day sentence – served on weekends. Grassroots cannabis justice.

At the federal level, many Democrats are now outspoken that national legalization can only proceed if it is accompanied by cannabis justice. Forget about all the previous Democrat administrations that happily endorsed the War on Pot. Today, Democrats are born-again “cannabis justice” hawks.

Cannabis legalization can only take place (nationally) in the U.S. if it includes cannabis justice.

Some investors may see this as a liability. But this is perhaps too narrow a perspective.

What we are now seeing in the United States – and demonstrated in Louisiana – is (belated) anger from the American people toward the persecution of cannabis users.

Cannabis is non-toxic and non-addictive. In comparison, alcohol and tobacco (the two legal recreational drugs) are toxic and addictive. They combine to kill more than 500,000 Americans every year.

If a rational society was to legalize only one drug for social use, that drug would be cannabis. Not tobacco. Not alcohol.

Cannabis justice demands cannabis legalization. Simple fairness demands cannabis legalization.

Americans now understand this. The importance here for cannabis investors and the U.S. cannabis industry?

As the 2020 election approaches, it is unlikely that any presidential candidate that does not support full cannabis legalization and cannabis justice is electable.
 

Published at Thu, 17 Oct 2019 10:00:02 +0000

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