Investment Trends
What’s happening in the cannabis space
Origin House
Cannabis investment, distribution and brand acceleration
Human Resources
7 Keys to a Successful Drug & Alcohol Policy
Cannabis Prospect Magazine
PM #43596516
Canada’s News Source for the Cannabis Industry
Vol. 1, Issue 3, June 2019
THE FINANCE & INVESTMENT ISSUE
Table of Contents/
June 2019
MEDICAL CANNABIS
10
Tetra is differentiated on the basis of its pharmaceutical pathway to drug development - this would lead to explaining the distinction between medical cannabis and cannabinoid medicines.
ACCESSORIES
18
Although the cannabis retail landscape continues to evolve, one aspect remains true - the need to exceed customer expectations.
CBD HEMP
20
In 2018, Health Canada expanded the scope to permit hemp flower buds, leaves and branches to be harvested then sold to a Cannabis Licensed Producer. Here’s what differentiates hemp from cannabis.
BLOCKCHAIN
24
TruTrace Technologies (formerly BlockStrain) gives us a look at how blockchain is changing the cannabis industry in new and innovative ways.
ON THE COVER REGULARS
12
Cannabis Prospect Magazine asks some of the leading investment firms on what’s trending in the cannabis space.
14
Last April, Cesco Labs acquired investment firm Origin House for $1.1 billion, making it the largest public company acquisition in the cannabis sector. Here’s why.
28
4 6 8 22 26 33 34 38
From the Editor Events News Product Showcase Provincial Updates Appointments Retail Directory List of Advertisers
In this issue CannAmm, a leader in drug and alcohol screening, looks at the keys to creating a successful drug and alcohol policy. June 2019 | Cannabis Prospect Magazine
3
Editor’s Letter/
Trials & Tribulations
I
n my first editor’s letter last February I reflected on the entrepreneurial spirit within the cannabis industry, drawing on my experiences at the O’ Cannabiz and the Lift & Co. expos respectively the previous year. For many professionals, entering the cannabis space was more a matter of drawing on their past experience and expertise then pivoting into this burgeoning marketplace (e.g. lawyers, manufacturers, consultants, etc.). Most already had their companies established or, with cooler heads and tempered expectations, eventually decide to make the difficult decision to venture out on their own as a freelance or independent. If you’re one of the countless entrepreneurs in the thick of it (myself included) sometimes it’s hard to see the forest for the trees, but here’s one stark realization that often gets overlooked or downplayed: cannabis isn’t for the faint of heart. To consumers that extol the wonders of cannabis expressing their newfound freedom to purchase it legally since legalization, the cannabis industry appears like a never-ending party - as many Instragram influencers would have you believe. The truth is working in cannabis is 2% glamour and 98% grit. Granted there are perks. Because the market is constantly changing it means there are also opportunities for those bold enough to take them. Similarly this is one of the most dynamic and supportive industries out there and have personally never felt more welcomed by its compatriots. The flip side of that is the belief that anyone can make it in this industry simply by interest and passion. Last April I attended a full-day workshop with some of the brightest minds in the industry on the challenges that come with becoming a cultivator. Everything from licensing
4
Cannabis Prospect Magazine | June 2019
to security, from the associated fees to the legalities involved with growing cannabis was discussed in great detail. It was clear from talking with attendees that many of them were in over their heads, either under-qualified for such an undertaking or unable to relinquish the necessary funds to do so. Now this isn’t totally unexpected. Corporations with deep pockets will always have greater opportunities than the average Joe. That’s a fact. But it’s also true that many CEOs and executives of cannabis companies aren’t recreational users themselves or are inherently qualified to work cannabis themselves. Now, I’m not saying that people shouldn’t chase their dreams. Far from it. However, it’s one thing to start a business with a concise plan with the experience to back it up. It’s another thing altogether to get swept up in the hype of cannabis too. While I have unbridled optimism that this industry will evolve over time I caution those that seek to jump into this industry headfirst. In the end, I’m hopeful cooler heads and tempered expectations prevail.
David Halpert
President / CEO, Straight Dope Media Inc. @cannabispromag
dicentra C A N N A B I S CO N S U LT I N G
BUSINESS PLANNING & STRATEGY FACILITY LICENSING & CERTIFICATION CLINICAL TRIAL DESIGN & EXECUTION DUE DILIGENCE FOR MERGERS & ACQUISITIONS PRODUCT DEVELOPMENT & COMPLIANCE
www.dicentra.cc
Conferences & Events/ June 6 - 9, 2019 Lift & Co. Cannabis Expo Toronto Metro Convention Centre Toronto, ON http://liftexpo.ca/expotoronto18
September 6 - 8, 2019 MJBizConINT’L Metro Convention Centre Toronto, ON http://mjbizconference.com/intl
June 12 - 14, 2019 MJBizConNext Ernest N Morial Convention Center New Orleans, LA http://mjbizconference.com/next
September 12 - 14, 2019 Grow-Up Conference & Expo Location TBD Niagara Falls, ON http://growupconference.com
June 16 - 18, 2019 World Cannabis Congress Saint John Trade and Convention Centre Saint John, New Brunswick www.worldcannabiscongress.com
September 15 - 16, 2019 International Business Cannabis Conference Westin Bayshore Hotel Vancouver, BC http://ca.internationalcbc.com
October 23-24, 2019 Security Expo Central 2019 Toronto Congress Centre Toronto, ON http://securitycanadaexpo.com
To submit an event for inclusion in the Cannabis Prospect Magazine calendar, email media@cannabisproonline.com
Cannabis Prospect Magazine CANNABIS PROSPECT MAGAZINE VOL. 1, ISSUE 3 SUBSCRIPTION SERVICES For subscription services visit www.cannabisproonline.com or email david@cannabisproonline.com. For change of address, please include the old address and new address, along with an address label from a recent issue, if possible. If an address is not updated when the magazine is mailed, we are not responsible for delivery of your magazine. If the Post Office alerts us that your magazine is undeliverable, we will suspend our subscription until a correct address is received. 6
EDITORIAL For editorial submission requests or article ideas please email media@cannabisproonline.com Cannabis Prospect Magazine assumes no responsibility for any claims or representations contained in the magazine or in any advertisement. All materials contained are for educational purposes and intended for the legal marijuana business. Cannabis Prospect does not encourage the illegal use of any of the products contained within. ISSN 2562-1033. CANADIAN PUBLICATIONS MAIL PRODUCT AND SALES AGREEMENT NO. 43596516
Cannabis Prospect Magazine | June 2019
Publisher and Editorial Director David Halpert Vice President, Marketing Director Cliff Persaud Cannabis Prospect Magazine is published six times a year by Straight Dope Media Inc., 44 Valleywoods Road, Unit 1802, Toronto Ontario M3A 2R6 Canada ADVERTISING For advertising rates or inquiries please email sales@cannabisproonline.com
CELEBRATING EXCELLENCE CONGRATULATIONS TO OUR WINNERS
VOTED CANADA’S BEST IN THE CANNABIS INDUSTRY PEOPLE’S CHOICE
BEST IN THE CANNABIS INDUSTRY Best Agency/Consultant
Best LP Customer Service
Best CannaInnovation
Best Accessory
Best Marketing Campaign
Best Blend Oil
Best News Source
Best CBD Oil
Best Security Service
Best Clinic
Best Testing Facility
Best Pre-Rolls
CannaFarms
Cannabis Compliance Inc.
Boveda Packs
Pineapple Express Delivery
CannTrust 1:1 Drops
7ACRES – Respect The Plant
CannTrust CBD Drops
Business of Cannabis
Canadian Cannabis Clinics
3|Sixty Secure Corp.
Hexo Corp
A&L Laboratories
Brand of the Year 48North
Licensed Producer of the Year Aurora
Best Capsule/Soft Gel Tilray Capsules
BEST CANNABIS PEOPLE Outstanding Educator of the Year
Best THC Oil
Ashleigh Brown
CannTrust THC Drops
Best Vaporizor
National Start Up of the Year
Utilian – Utilian 721
Starbuds
Green Deed Award Green Relief
Social Media Influencer of the Year
Dried Flower – Best Hybrid
Jacqui Childs
Peace Naturals White Widow
Dried Flower – Best Indica
Best Software Ample Organics
Tweed Baker Street
Cannabis Person of the Year
Best POS/CRM Software
John Fowler
Dried Flower – Best Sativa Hexo Corp Helios
Cova Software
Best Cannabis Cultivation Product Blue Sky Organics
Best Packaging
Cannabis Product of the Year Zeus Arc Gt
Attorney of the Year Trina Fraser
Best App
Strainprint Techonologies Ltd.
SIIVVA
Best Engineering Firm LaPorte Engineering
SEE YOU IN 2020
Best Cultivator Broken Coast
Best Packaging Supplies & Equipment Paxiom
O’CANNABIZ
ocannabiz.com/awards
CONFERENCE & EXPO TORONTO APRIL 23-25, 2020 •
THE INTERNATIONAL CENTRE, 6900 AIRPORT RD. MISSISSAUGA, ON TH
CALL FOR EARLY BIRD PRICING. 905-858-3298 ocannabizconf ocannabiz ocannabiz ocannabiz.com
News/
New Research Study Proves Canadians Are Turning to Cannabis for Relaxation & Wellbeing According to The Future of Cannabis in Canada, a new study conducted by Insights West for Resonance Consultancy in partnership with Valens GroWorks Corp., the Canadian cannabis consumer may choose to partake in the drug for a wide variety of reasons, including health benefits such as reducing anxiety, helping with sleep, and relieving stress. Among Canadian cannabis users, the top two reasons for consuming cannabis are to relax (79% regularly/occasionally) and for fun/recreation (74%), followed by to relieve stress (69%) and to help users sleep (60%). More than half of users (55%) regularly/ occasionally consume cannabis to reduce anxiety, while half (50%) use it to provide relief for a medical illness/condition, and 46% use cannabis to help them escape. For more information go to http://resonanceco.com/reports
B.C. Selects THC BioMed as “Exclusive to B.C.” Cannabis Provider THC BioMed Intl Ltd. has entered into an agreement with the BC Liquor Distribution Branch (“BCLDB”) to supply a number of its products exclusively to British Columbia. The agreement was entered into after the BCLDB met with THC BioMed management and toured THC’s flagship facility in Kelowna B.C. The BCLDB will provide purchase orders to THC BioMed for the product quantities listed in the appendix to the agreement three months in advance of the available supply month. THC BioMed Ltd. has committed to supplying all produced dried flower product intended for the non-medical market, exclusively to the BCLDB until December 2019, maintaining wholesale cost as listed in the appendix its Agreement until December 2019 and supplying the product as per the quantities and schedule listed in the appendix to the Agreement. Pharmascience Inc. Launches Royalmount Laboratories, a New Analytical Service Division in Montreal Pharmascience Inc. has launched its new division in Montreal, Royalmount Laboratories. Royalmount Laboratories specializes in contract research services for both local and international companies. This new division leverages Pharmascience’s strength in bioanalytical operations with a new competency in cannabis testing for third parties. “Pharmascience has been testing 8
pharmaceutical products for over 35 years and doing its own bioanalysis on clinical trials for over 25 years,” said David Goodman, Chief Executive Officer at Pharmascience Inc. “Offering our expertise and regulatory knowledge in analytical and bioanalytical testing to now help clients obtain cannabis testing is a bold new business expansion driven by our continued internal drive to be at the technical foreground of new markets.”
the StrainSecure™ platform, we anticipate being able to finally create a benchmark for the cannabis industry.” Under the terms of the LOI, the parties have agreed that: (a) TruTrace will include MSC. as a preferred partner; and (b) the parties will explore development and integration opportunities to utilize their mutual technologies to bring greater transparency and visibility to the legal cannabis industry.
TruTrace Technologies and Molecular Science Corp Enter into Strategic Working Relationship TruTrace Technologies Inc. has entered into a letter of intent dated April 30, 2019 with Molecular Science Corp. (“MSC”). Under the terms of the LOI, the parties will work together to explore opportunities to combine the blockchain-secured technology of TruTrace with the analytical expertise of MSC in order to deliver greater transparency and visibility around the quality of products being offered in the legal cannabis industry. “Working with MSC marks a significant step forward for TruTrace in our mission to create a true testing benchmark for the Canadian cannabis market,” said TruTrace CEO, Robert Galarza. “Its comprehensive process of analytical testing on cannabis and cannabis products, including potency, terpene profiling, pesticide levels, heavy metals content and mycotoxins testing, combined with its commitment to bringing awareness to testing standards, ensures a higher level of quality control for the industry. By combining its services with
Fire & Flower Signs Definitive Purchase Agreement to Acquire Four Cannabis Shops in Saskatchewan Fire & Flower Holdings Corp. has entered into a definitive agreement pursuant to which Fire & Flower will acquire certain assets of Prairie Sky Cannabis Inc. The Vendor currently operates four licensed retail cannabis shops in the province of Saskatchewan in the communities of Battleford, Estevan, Martensville and Moosomin, Saskatchewan under the name Jimmy’s Cannabis Shop. “The acquisition of four additional retail cannabis stores in the province of Saskatchewan is the first in Fire & Flower’s aggressive acquisition strategy for 2019. In conjunction with our Open Fields wholesale distribution platform in the province, it cements our leadership position in this strategic market. Along with our existing portfolio of organic growth opportunities, the acquisition puts us in a good position to meet our growth goals for the year.” shared Trevor Fencott, Chief Executive Officer of Fire & Flower.
Cannabis Prospect Magazine | June 2019
First Choom-Branded Store to Open in Niagara Falls Choom announced that the Alcohol and Gaming Commission of Ontario (“AGCO”) issued a Retail Operator Licence to Lisa Bigioni, and issued a Retail Store Authorization for her Choom-branded cannabis store in Niagara Falls, Ontario, which is expected to open in May 2019. In accordance with the AGCO’s requirements, Ms. Bigioni, as a licensed operator, may finalize her store set-up, including ordering and receiving cannabis product and cannabis accessories into her store ahead of opening for business. The AGCO will also conduct a pre-opening inspection to ensure the store is ready to open for business and sell cannabis products to the public in accordance with all applicable regulations. “This is a very exciting time for Choom as we help Lisa to open her store in Niagara Falls using the Choom brand,” said Chris Bogart, President & CEO of Choom Holdings Inc.
“We look forward to becoming trusted members of these local communities and effecting a smooth transition of existing local staff to serve consumers in the communities in which we operate.” Khiron Expands to Europe, Signs NonBinding LOI to Acquire Italy-Based Canapalife Group Khiron Life Sciences Corp., a medical cannabis company with its core operations in Latin America, announced that the Company has entered into a non-binding letter of agreement to acquire 100% of the outstanding securities of Canapalife S.r.l. and 100% of the economic interest in Campodoro S.r.l. from Alvaro Garro and Paolo Puggioni, being the sole shareholders of Canapalife Group. Canapalife is a prominent hemp product company based in Italy with licenses for the cultivation, research, production and marketing of hemp-based products. Canapalife operates a cultivation site in Padua, near Venice, Italy, conducts research in partnership with prominent universities and has registered three CBD consumer brands, including, Bloom CBD e-liquids, Canvax nutraceutical products and Legal Seeds, a brand designed to market EU approved seeds to the consumer market. Alvaro Torres, Khiron CEO and Director commented, ” The proposed transaction offers Khiron an entry to the European market and expansion of our global footprint. In addition to increasing our multi-jurisdiction cultivation and production capacity, Canapalife offers the
addition of dynamic brands to our product portfolio, access to key retailer partners and relationships with Italy’s leading research facilities.” Spectrum Cannabis and the Arthritis Society Team Up to Launch Arthritis Talks, A National Symposium Series for Patients Spectrum Cannabis, the medical division of Canopy Growth Corporation, announced a partnership with the Arthritis Society to raise awareness and educate people about living with arthritis, including the potential of medical cannabis as a treatment for arthritis symptoms and the importance of seeking guidance from health care practitioners. The Arthritis Society is a leading charitable funder of arthritis research whose vision is to live in a world where people are free from the devastating effects of arthritis. The partnership will engage Canadians across the country in a series of symposiums titled “Arthritis Talks,” presented by the Arthritis Society and Spectrum Cannabis. The series consists of a comprehensive program of in-person and digitally-accessible education events across Canada featuring leading speakers on topics that are of high interest and relevance to people living with arthritis. Spectrum Cannabis and the Arthritis Society are also committed to creating a range of evidence-based resources that will enable people with arthritis to make informed decisions regarding medical cannabis. These resources which will be developed over the coming months
and available on Arthritis.ca, range from infographics to educational videos and an online guide that will feature content backed by the latest evidence available to guide patients through the process of making decisions about medical cannabis. Tweed and TerraCycle team up to take Cannabis Packaging Recycling Program across Canada Tweed officially launch the Tweed x TerraCycle recycling program across Canada. Previously available in select stores and provinces, the announcement officially marks the roll out of Canada’s first country-wide Cannabis Packaging Recycling Program. First introduced in October 2018, the Tweed x TerraCycle Cannabis Packaging Recycling Program accepts all cannabis containers from all licensed producers – including tins, plastic bags, tubes, and bottles with child-proof caps, which are notoriously tricky to recycle. Since its debut, the free Cannabis Packaging Recycling Program has saved over 165,000 containers from ending up in landfills. The program is currently active in over 106 legal cannabis retail locations across Canada, including all Tweed and Tokyo Smoke stores, as well as select third-party retailers.
Have a news release? Send it to us. Forward to media@cannabisproonline.com
June 2019 | Cannabis Prospect Magazine
9
All Cannabis is Not Created Equal! If you disagree, take it up with Tetra Bio-Pharma.
I
By Dr. Guy Chamberland, Ph.D.
f you or someone you know suffers from any one of several diseases or health conditions, you may be searching Google daily hoping to find a company somewhere in the world doing research to show that cannabis will help. Those who experience chronic pain, cancer pain, fibromyalgia, PTSD, depression, anxiety, epilepsy, ocular pain to name a few, are watching and waiting, and the list of potential therapies comprising cannabinoids goes on. The question that needs to be asked is whether a doctor will authorize it, and if not, then why? One explanation might be the lack of scientific evidence or that the Canadian Medical Association does not endorse it. While cannabis has been used for thousands of years as a remedy, Health regulators say that cannabis is a drug and our Canadian biopharmaceutical company agrees. Tetra Bio-Pharma is in the business of discovering, developing and commercialising cannabinoid-derived products by taking a unique pharmaceutical pathway so that these drugs will become incorporated into the medical system. It’s a tall and painstaking order but Tetra knows that without scientific evidence, health regulators will not approve, physicians will not prescribe and insurance companies will not cover a product that has not been proven safe and effective in the exact same way as any other
10
drug for human use. Health Canada only approves drugs once they have successfully gone through a formal drug review process. This process, which can take anywhere between six months and two years, is the way a drug application is reviewed by scientists in the Health Products and Food Branch (HPFB) of Health Canada, and, as required, outside experts to assess the safety, efficacy and quality of a drug.1 So, what differentiates cannabis medicine from the medical cannabis currently available can be summed up in two words – scientific evidence. Because all pharmaceuticals used by humans go through rigorous clinical trials, they meet the standards required by regulators like Health Canada, the Food and Drug Administration in the US and the European Medical Authority. The Drug Identification Number (DIN) that comes along with this validation is what allows a drug to earn its coveted place as a prescription drug. While most doctors have limited knowledge and clinical experience in treating their patients with cannabis, they know about the importance of scientific data. They get that medicines approved by regulators establish a drug’s effectiveness and safety, the best dosing and usage in humans, any negative drug reactions and have compared results to existing treatments or a placebo when no treatment currently exists.2 This
Cannabis Prospect Magazine | June 2019
gold standard is also something that private and public insurers look at when it comes to reimbursement. Treatment with cannabis can cost a patient between $4,000 to $12,000 annually, an amount that could be significantly reduced with insurance coverage. Currently, the dosing and consistency of medical cannabis is almost impossible to achieve. Although our company is singularly focused on developing cannabis medicine backed up by science, we are not a cannabis company and it would be a mistake to see us other than through the lens of a pharmaceutical company. Tetra is one of a few companies working with Health Canada and the Food and Drug Administration (FDA) on clinical trial programmes with cannabinoid-derived products. These trials have led to a significantly improved understanding of the safety, pharmacokinetics and pharmacodynamics of cannabinoid-based drugs targeted for the treatment of pain. Tetra is already considered a global biopharmaceutical leader in cannabinoid-based drug discovery and development, a reputation that formed quickly as a result of our accelerated regulatory achievements, clinical programmes and cost management which is nothing less than remarkable by industry standards. That’s why I’m concerned, even worried, about the lack of understanding on
Medical/ the part of consumers, investors and even industry analysts about what real evidence means when it comes to the approval, access and use of cannabis for a medical condition. The fact that what we do is perfectly in sync with health regulators speaks volumes about our business model. Tetra chose the right path by following the established route for drug approvals. Being ahead of the curve on the regulatory requirements means that we are already well placed to produce the clinical data that regulators want and what physicians need to have the confidence to use cannabinoids in their practice. Are Canadians Asking Their Doctor for Cannabis? Do They Know The Difference Between Cannabis Medicine and Medical Cannabis? Canadian medical professionals seem to be slow getting on board with cannabis treatment even though a recent IPSOS survey of 2000 Canadians showed that 65% would use cannabis for a medical condition if it were prescribed by their doctor and covered by insurance. The truth is that treatment with cannabis is complex and most doctors don’t yet have the clinical experience. Only a slim majority of Canadians agree that their doctor knows how to treat them with cannabis, suggesting there could be room for improvement in knowledge. According to the survey, only one in ten Canadians have asked their doctor to prescribe cannabis for a health condition. When it comes to the level of awareness of
cannabinoid-derived medicines only one in six Canadians (17%) say they are closely following the progress of clinical trials for cannabis-based medicines; 18% thought cannabis medicines already existed and almost one-quarter said they were not at all aware. Understandably, those suffering from one or more conditions that could be treated with medical cannabis are more likely to be following this news closely. The survey also indicated that Canadians believe that doctor knows best. They are not prepared to go it alone when it comes to cannabis treatment and they want buy-in from their doctor. Almost nine in ten Canadians (88%) believe that there is some degree of risk in taking cannabis for health conditions without consulting a physician. While the industry is moving at breakneck speed, physicians have not quite jumped on the bandwagon and cannabis medicine is not yet available at your corner pharmacy. Expect to see that change as Tetra Bio-Pharma continues to advance its cannabinoid-derived products for the treatment of chronic pain, cancer pain and opthalmics through various phases of clinical development. 1,2 https://spharm-inc.com/the-drug-approvalprocess-in-canada-an-eguide/
Dr. Guy Chamberland, Ph.D. is the CEO and Chief Science Officer of Tetra Bio-Pharma
“The fact that what we do is perfectly in sync with health regulators speaks volumes about our business model,” says Chamberland. “Tetra chose the right path by following the established route for drug approvals. Being ahead of the curve on the regulatory requirements means that we are already well placed to produce the clinical data that regulators want and what physicians need to have the confidence to use cannabinoids in their practice.”
Finance/
INVESTMENT TRENDS WITHIN THE CANNABIS SPACE
In this issue of Cannabis Prospect Magazine we went to a number of North America’s leading investment firms and asked them where they think the opportunities lie in the cannabis space for both Canada and the US...
12
Codie Sanchez, Managing Director Cresco Capital Partner
Loren DeFalco, Director of Research, CB1 Capital
One of the biggest trends we see is what we could call the Canadian cannabis migration. This is where investors and acquirers from Canada are now flocking to put money to work in the US market. The trend originally was quite the opposite, with international investors and companies pouring money into Canada through M&A activity by firms such as Altria or Constellation Brands. Now we are seeing the flow of money begin to reverse. One large example to date is the $3.4 billion acquisition of Acreage by Canopy Growth. We anticipate that will be the first of many deals cross border, as Canadian investors, companies and pensions look to the US market due to its consumer size and nascent stage. After living through the rapid growth in Canada many investors and companies recognize the echo of the market they profited from in their southern neighbor. We anticipate this will mean more acquisitions, more investments and ultimately more cross-border investment.
The recent deal announced between Canopy and Acreage is emblematic of the international opportunity for Canadian operators with strong balance sheets. There has been a rush for licenses in many of the states in the US, and not all of the license winners intend to be operators or expect to have the ability to execute their business plans. Available capital is unable to match demand due to the current US banking regulations. This sets up an opportunity for further cross-border M&A, with the companies with strong balance sheets likely to be in high demand by investors. The trend toward wellness on both sides of the border is picking up as use-cases become common knowledge. We believe that the clinical efficacy of pediatric epilepsy from GW Pharmaceuticals is what opened up popular opinion to the true medicinal value of cannabis over the last few years. We also believe that further proof of the efficacy of cannabis through clinical trials on new indications will drive the demand within the wellness/CPG market much higher than current models contemplate.
Cannabis Prospect Magazine | June 2019
Matthew J. Nordgren, CEO Arcadian Capital
Baron Lee, Portfolio Manager, Matco Financial
Afzal Hasan, President, Origin House
In the retail, manufacturing and cultivation asset classes we are noticing a slight valuation correction in terms of multiple on a revenue basis, alongside the continued volume growth with what seems like a worldwide market to potentially scale into. We will continue to see a tremendous amount of M&A activity in this asset class amongst the larger players. Another trend to watch closely is the ancillary (B2B) market growth round category. These types of businesses usually generate their revenue by providing a service to a “plant touching company”. We predict a great amount of activity in the US market for these assets within the next 12 months. Lastly, our most interesting mid-long term trend would have to be those companies that are consuming facing. Giving great opportunity for a product that delivers a consistent experience in an authentic way. These assets classes involve delivery, distribution, testing, pharma/bio tech, consumer brands, etc.
The cannabis industry continues to evolve and could be one of the largest growth opportunities in our lifetime. The Matco Cannabis Investment Fund is an investment vehicle to participate in this growth. We have been increasing our US exposure over the last six months for the following reasons: The US is projected to be a $70 billion market. Several legislative catalysts exist in the US, the most notable are SAFE Banking Act and STATES Act. Although cannabis remains illegal at the federal level, an increasing number of states continue to legalize medical and/or recreational use. Most states allow or require vertical integration resulting in lower costs and higher quality. The US is less restrictive on branding and marketing, which will be important in a mature market as there will undoubtedly be a ‘Coca-Cola’ of cannabis in the future. Most importantly, valuations in the US trade at a significant discount to those in Canada and we believe legislation will narrow and eventually close this gap. Canada remains an attractive market, but the US is bigger and better.
Our initial business model included providing upfront capital to licensed cannabis businesses in exchange for a royalty on their revenues, in addition to other flexible investment structures. This experience revealed a huge opportunity around development of global cannabis brands in California. As I’ve mentioned above, we capitalized on this unique opportunity and decided to shift gears and focus on building a leading manufacturing and distribution business in California, the world’s largest regulated cannabis market. As a major distributor of thirdparty cannabis products in California, Origin House is in a unique position in this open and vibrant market. This is why we are currently focused on investing in the US, and specifically California. We currently bring 50+ brands to more than 400 retailers in California.
June 2019 | Cannabis Prospect Magazine
13
Lessons from the US: With Legalization Here Origin House Eyes Opportunities in Canadian Cannabis For those that don’t know tell us more about Origin House mentioned above, we capitalized on this unique opportuniand its role in the cannabis industry. ty and decided to shift gears and focus on building leading Origin House is a North American cannabis consumer prod- manufacturing and distribution businesses in California. ucts company focused on building a leading distribution As a major distributor of third-party cannabis products in business in California, the world’s largest regulated canna- California, Origin House is in a unique position in this open bis market. By building a world-class and vibrant market. This is why we are logistics platform and supporting conIn this issue of Cannabis currently focused on investing in the tract manufacturing assets, we intend U.S., and specifically California. We Prospect Magazine to support the growth of new and currently bring 50+ brands to more we sit down with Afzal established cannabis brands. We bethan 400 retailers in California. lieve that California, home to some of Hasan, President the world’s most discerning consumDo you foresee obstacles/restricof Origin House, a ers and a nexus of information and tions for Canadian LPs when it trends, will be the point of inception comes to marketing cannabis as a Canadian investment for the global cannabis brands of the consumer good? firm with a focus future. Aligned with this, Origin House A legal, recreational adult-use market has begun to expand its infrastructure is a huge opportunity for LPs and othon building leading into other jurisdictions, starting with er companies operating in Canada to manufacturing and Canada, to support the global expancreate and shape the industry in a redistribution businesses sion of our brand partners. sponsible manner. However, despite legalization in Canada, regulations in the cannabis sector, From your talk at the Cannabis Capithat accompany the Cannabis Act primarily out of tal Conference it seems Origin House place significant obstacles to compais more focused on investing (or acnies looking to educate and engage California quiring) brands in the US for the time consumers regarding cannabis. Most being, why is that? traditional forms of advertising, marketing and branding used Our initial business model included providing upfront capital for consumer products are not permitted for cannabis prodto licensed cannabis businesses in exchange for a royalty on ucts. Unlike other consumer product goods, brands have not their revenues, in addition to other flexible investment struc- been established in the cannabis sector. The limitations on tures. This experience revealed a huge opportunity around using traditional marketing channels will severely restrict the development of global cannabis brands in California. As I’ve ability of Canadian cannabis companies to create brands that 14
Cannabis Prospect Magazine | June 2019
hold consumer loyalty over time. That in turn will likely reduce conversion of consumers from the black market to the legal industry. Now that we’re nine months into full legalization in Canada, do you see investing opportunities domestically in the cannabis market? Canada’s cannabis industry is still in its early stages. Cultivation is the most mature segment of the market, and there is still substantial progress to be made before consistent and high quality production is seen across the board. Downstream sectors such as processing, production of derivative products, distribution and retail are even less mature. Savvy entrepreneurs that are able to participate in the maturation of these sectors offer great investment opportunities, but it will be difficult (if not impossible) for most investors to separate the wheat from the chaff. Last year you acquired two companies related to distribution (AltaSupply and RVR), how strategic were those acquisitions? Are the distribution models for cannabis (or cannabis brands) different from one
jurisdiction to another, whether it be state to state, or Canada to the US? We identified early on that distributors would be critical gatekeepers and growth catalysts in California’s regulated cannabis marketplace. Individually, Alta Supply and RVR were two of the industry’s leading distribution companies. With the closing of the Alta Supply and RVR acquisitions, and the recently announced merger of these two distribution leaders in California under the Origin House umbrella, we are well positioned to become the preeminent third-party distributor in the state. Since California’s transition into a full adult-use market on January 1, 2018, RVR and Alta Supply have consistently broken monthly revenue records and the acquisitions ensured that these revenues were added to Origin House’s top line, putting us in a position to exit the last quarter of 2018 with a revenue run rate comparable to the largest public North American cannabis companies. These acquisitions have also been key to the platform we are building in California: home of origin for global cannabis brands of the future (hence our recent rebranding from CannaRoyalty to Origin House). The merger of RVR
with Alta Supply creates a major crossstate distributor in the California market with an ability to accelerate the growth of brands. We are confident that this integration will enable us to offer one of the most attractive product portfolios in the industry. The distribution models in different jurisdictions vary drastically. While California has mandated use of licensed distributors, other states have gone in the opposite direction and prohibited companies from acting as distributors. In Canada, it appears that provincial governments will generally act as the distributor, buying from private manufacturers and selling to either private or government retail. Can you discuss the reasoning behind the launch of Continuum? Because our brand-focused business model is powered by statewide distribution we decided to consolidate two key players in the California cannabis market, RVR Distribution and Alta Supply, into Continuum to combine our strengths under one umbrella. Having done this allows us to be the partner of choice for growers and retailers within the state embodying the company’s
June 2019 | Cannabis Prospect Magazine
15
strategy to become the most prominent cannabis distribution platform in California. Can you discuss the recent transaction/acquisition of Origin House by Cresco Labs? What it means for the company and where you see its future? The acquisition of Origin House by Cresco Labs is the largest public company acquisition in the history of the U.S. cannabis industry and represents a total consideration of approximately C$1.1 billion. From an Origin House perspective, this transaction is directly aligned with our strategy of building a leading portfolio of cannabis brands in California and to take those brands to the rest of the U.S. market as well as the Canadian market. The future of this cannabis industry powerhouse sees the combined entity being one of the largest vertically-integrated multi-state cannabis operators in the United States; a leading North American cannabis company, by footprint; and one of the largest brand distributors in the cannabis market. Do you foresee Canadian laws with respect to marketing cannabis becoming more flexible as time goes on as other consumer goods (edibles, topicals, etc.) enter the market? Yes. Based on our experience as an investor and participant in mature cannabis markets, consumer uptake is slow and black-market activity will thrive if the rules are too restrictive. Getting the private sector involved in Canada’s cannabis retail marketplace will be an important step “The distribution models in in diminishing the role of the black market. Ontario different jurisdictions vary has already taken the first step in the right direction with its recent announcement to open the market to drastically. While California private retailers and we are hopeful that other provhas mandated use of licensed inces will follow its lead.
distributors, other states have gone in the opposite direction and prohibited companies from acting as distributors.”
Can you speak to your recent activities specific to the Canadian market? Absolutely. In Canada, our focus has been on branded products and know-how around manufacturing and distribution of branded products. Having operated across several jurisdictions in the U.S., we have experience in bringing products to consumers in markets with numerous compliance and regulatory challenges. In early 2018, we announced the launch of our subsidiary, Trichome Financial Corp., a Canada-based specialty financing company focused on providing tailored credit-based capital solutions to the Canadian and international cannabis industry. Last month, Trichome closed its first private placement, with gross proceeds of C$15 million. Also, we recently made one of our largest announcements in the Canadian cannabis market with the acquisition of 180 Smoke. 180 Smoke is one of the most prominent Canadian vape retailers and given that over 80% of its nicotine vape consumers are also potential cannabis users. This crossover gives our cannabis consumer brand partners access to a rapidly-growing, repeat, online and retail customer base in Canada. Furthermore, 420 Wellness Inc., a subsidiary of 180 Smoke was recently approved for its first cannabis dispensary location in the City of Calgary and has applied for two additional cannabis dispensary licenses in Alberta and is actively negotiating for additional locations nationally. We see cannabis potential in 180 Smoke’s existing 26 bricks & mortar locations across Canada and with its retail strengths and experienced team on board, we are confident to rapidly expand our cannabis retail footprint. Afzal Hasan is the President and General Counsel of Origin House
16
Cannabis Prospect Magazine | June 2019
The Canadian Shifting Sentiment Cannabis Study: Canadian Cannabis Study |
Post-legalization in B.C. at 64%. Since legalisation, support among B.C. residents has Usage and Opinions dropped to 56%. Although less
Pre-legalisation support was highest
Just Released The Canadian Cannabis Study: Post-legalization Usage & Opinions provides extensive market insights straight from the key element for successful business growth —the consumer.
2019 Edition
pronounced, the same trend has occurred in the Prairies. The drop in support in Western Canada can likely be attributed to the supply shortages and slow retail roll-outs that plagued parts of Canada. This in turn has also kept the black market prevalent (as we’ll see later in this report). Support is now at its highest (64%) in Atlantic Canada. Residents of
Quebec have also shifted in their sentiment toward legalization. Prelegaliszation, Quebecors were in majority opposition, citing concerns with under age abuse of the drug, safety, and it being a gateway drug to other more harmful drugs. Public education and a relatively tame post-legalization landscape have shown a now majority of Quebec residents that there is not a lot to be concerned about. Legalization hasn’t equated to Canadians running wild in the streets with bongs in hand.
Pre and post-legalisation support across Canada: Support Atlantic: Quebec: Ontario: Prairies:
Undecided
62% 64%
Pre Post Pre Post Pre Post Pre Post
British Pre Columbia: Post
36% 42%
Oppose
13% 15% 15%
25% 21%
49% 36%
22%
56% 58%
15% 16%
30% 26%
57% 54%
12% 16%
31% 30%
64% 56%
11% 17%
26% 27%
Results for this report are from Vivintel’s 2019 Canadian Cannabis Study and are integrated to Vividata’s Spring 2019 Survey of the Canadian Consumer. Interested in gaining software access to this extensive database to perform your own custom analysis? Contact: info@vividata.ca.
What’s in the Study: Social acceptance of cannabis Profile of cannabis users Legal vs. black market sources Methods of use Motivations to use Impact of cannabis on consumption of other products • Sources for cannabis information • Changes in use post legalisation • Opinons on cannabis use
vividata.ca
• • • • • •
5
1 in 10 current users of cannabis used it for the first time post-legalization.
75%
of current cannabis users consume cannabis to relax/unwind.
38%
of cannabis and cannabis related products were obtained through black market sources.
Receive 15% off your report with the promo code: CANNPRO15
Tips for Selling Cannabis Accessories
A
lthough the cannabis retail landscape continues to evolve, one aspect remains true - the need to exceed customer expectations. The opportunity to add significant value beyond the transaction is particularly prevalent when selling cannabis accessories, but requires retailers to strategically curate their product portfolio, and guide consumers through the cannabis retail experience. The Power of Personalization In many instances, the sale of a cannabis accessory is a special one-off purchase particularly suited to an individual. Consequently, retail consultants need to be able to personalize the customer experience, and convert these opportunities as and when they arise. For consultants to effectively personalize the service provided to customers, retailers need to create an environment that encourages curiosity, exploration and education. Initiating meaningful discussions with consumers helps better understand their requirements. By taking this information into account, retailers can identify and suggest personalized recommendations of accessories that meet their unique needs, enriching their cannabis experience. This personalization not only enables retailers to sell cannabis accessories more effectively, it also enhances the retail experience and increases customer loyalty. By providing the knowledge and resources for customers to make their own informed decisions, consumers are empowered to share this knowledge with others and become product advocates themselves. This word-ofmouth marketing is crucial to create brand awareness. However, to further appeal to defined target audiences, retailers must also strategically curate their product portfolio.
A Strategically Curated Product Portfolio As accessories can play an integral role in reaching new markets, retailers should develop a product portfolio that both appeals to existing demographics and also attracts new customers too. Items such as decarboxylators, for example, can help normalize cannabis use by not only simplifying cooking with cannabis but also increases the plant’s appeal to those deterred by the health implications of smoking or vaping. As new accessories are constantly being developed, it’s vital that retailers regularly update their product portfolio to ensure they stay relevant and meet the needs of consumers. This is particularly important when new product categories enter the regulated market later this year. With extracts, for instance, retailers should supplement their accessory portfolio with dab rigs. This will enable customers to enjoy these new product offerings, and ensure retailers don’t leave money on the table should sales opportunities occur. By analyzing the sales of individual accessories and related products, retailers can streamline their inventories by identifying which items are in demand and which have fallen out of favour. This enables buyers to examine how effectively their product portfolio meets their customers’ needs, and make adjustments accordingly. The Importance of Brand Partnerships To increase their ability to sell accessories and target defined market segments, retailers should establish and leverage close partnerships with reputable brands - as opposed to simply carrying their products. Retailers should look to
collaborate with suppliers that not only align closely with their target audience, but also their core values. This ensures accessories complement the retailer’s image as well as the other products stocked, and that they’ve been developed with their target demographic in mind. Partnering with brands also enables retailers to optimize pricing and improve supply chain resiliency, further supporting the ability to maximize accessory sales through increased competitiveness. Establishing strong relationships with suppliers can also facilitate the sharing of market data and training resources, so both parties are better positioned to take advantage of emerging opportunities. These insights can be invaluable as retailers need to be able to provide customers with the latest products as well as train employees to be accessory experts. Adding Value Beyond the Transaction In order to maximize sales of cannabis accessories, retailers need to focus on adding value beyond the transaction. This involves creating an environment that enables consultants to provide a personalized cannabis retail experience, with a product portfolio curated for specific demographics. Retailers must continuously ensure their product portfolio appeals to target demographics, and develop relationships with suppliers to protect the customer experience in the long term. By delivering a customer experience that not only meets (but surpasses) expectations, retailers can boost accessory sales and help work towards de-stigmatizing the industry itself. Ryan Hirsch is the Marketing Manager at Kiaro, a Vancouverbased cannabis brand
Strainprint Analytics Clinic Edition
Get real-time patient tracking data, provide product recommendations based on over 1.2 million tracked sessions, and improve your clinics’ overall efficiency. Contact our team to try it free today! sales@strainprint.ca
Learn more at strainprint.ca/analytics
Try it FREE t o d ay !
Uncovering the Astounding Potential for High CBD Hemp By David Cohlmeyer & Peter Wojewnik
F
or millennia, hemp has been used for its fibre, seeds and medicinal properties. Currently, hemp stalks are utilized in textiles, cordage, paper, and building materials, while its seeds are used for food, culinary oil, cosmetics, plastics and fuel. The Canadian government legalized industrial hemp production for these purposes in 1998. Then in 2018, Health Canada expanded the scope to permit hemp flower buds, leaves and branches to be harvested then sold to a Cannabis Licensed Producer to arrange for extraction of the hemp’s medicinal cannabinoids. There is considerable evidence that cannabidiol (CBD) extracts enhance our body’s natural cannabidiols for healing such diverse ailments as: chronic pain, anxiety, epilepsy, Alzheimer’s, arthritis, diabetes, etc. (For more verified benefits, please see McGill University’s Canadian Consortium for the Investigation of Cannabinoids at www.ccic.net) Now that Cannabis is becoming legal in many parts of the world, medical institutions and universities are commencing research to corroborate this evidence. Meanwhile, medical practitioners and the public are beginning to feel more confident about prescribing and using these relatively safe and natural products. Forbes has forecast the fledgling CBD industry to reach $14-billion by 2020. CBD healing oils can be provided by Cannabis grown in artificially lit warehouses for about $4/gm or in greenhouses for about $2/gm. In outdoor fields, with no need for expensive structures, energy intensive HVAC, and sophisticated security systems, low THC hemp can produce these beneficial oils for about $.25/gm! Cultivars are bred and grown for a single characteristic of the crop. Hemp fibre plants are grown close together to force fibrous stems to grow tall, while hemp grain plants are grown less densely to allow space for seed-heads to form – similar to corn. Medicinal hemp, on the other hand, is grown much more
spaciously (about 2-m2 per plant – similar to tobacco) so that female plants can fully express themselves by producing flower buds with a full complement of terpenes, flavanols and cannabidiol oils. In addition to growing methods, hemp genetics also play a significant role. Hemp is actually the same genus as Cannabis, except that it has been selected to have an arbitrarily low level of the intoxicating THC cannabinoid. Most countries define hemp to have <0.3% THC in the dried leaves and flower buds. (Some countries insist on <0.2%, and others accept <1.0% THC). At these low concentrations of THC, it is nearly impossible to get high from a field of “hemp”. Cannabis cultivars typically have a set CBD/THC ratio. Hemps bred for high CBD yields might have a 40:1 ratio. While the THC rises to 0.3% as the plant matures, the CBD rises to 12% (0.3 x 40). Since the economics of the CBD extraction process require a minimum of 10% CBD, this is a desirable cultivar. But great care must be taken to harvest the hemp before the quickly rising THC goes above the legal threshold. Some jurisdictions allow a remediation period before destroying a crop if THC inadvertently goes too high. A complicating aspect of breeding any particular hemp cultivar is it being a latitudinal crop (sensitive to changes in daylength). This means that a crop bred for Kentucky (38°N) might not be suitable for Ontario (44°N). Plus, the local soils, climate, and cultural practices readily affect the fine balance between THC and CBD’s. Another factor is the presence of male hemp plants that reduce the quantity of CBD. So breeders “feminize” cultivars by attempting to make them 99% female. In order to extend the planting and harvest periods for more efficient labour management, breeders can also select for “auto-flowering” by breeding out the photoperiod initiation of flowering to favour the weeks of growth before flowering. The next step will be to begin selecting for other beneficial oils such as CBG, CBC, CBN, and more yet to be identified. For all these reasons, local breeding and selections need to be encouraged. Projections for world-wide growth of this new industry range from $2-billion to $22-billion by 2022. As an early step toward this, the 2018 US Farm Bill specifically exempts hemp from the Controlled Substances Act, plus it now permits this new industry to begin working within the banking system. In order for Canada to continue as a world leader of a robust and scalable hemp industry, producers need more flexible and supportive regulations by Health Canada and/or Agriculture and Agri-Food Canada. Permitting hemp producers to extract their own CBD oils would be a good start. David Cohlmeyer is the Business Plan and Farming Operations Specialist at dicentra Cannabis Consulting and Peter Wojewnik is the Vice President of Growth, Marketing & Sales at dicentra Cannabis Consulting
Product Showcase/
ANYJET Inline Printer and Laser Finishing System The ANYJET inline printer and laser finishing system is the perfect solution for brand owners and end users looking to simplify their in-house label production processes with a one-step process. With the ability to print and cut nearly any shape or design, the on-demand process is ideal for business owners looking to consolidate their workflow, improve efficiency and reduce operating costs. Boasting an 80-watt laser and 1600x1600 dpi Memjet print station, the system is capable of producing professional quality labels and stickers at an impressive speed of over 10 meters/min. Arrow Systems Inc. is the North American distributor of the ANYJET along with the ANYTRON line of digital printing and finishing solutions.
KARTNR for Carton Forming, Loading & Closing
EndFlex introduces its new all-in-one carton loading system called the Kartnr. This compact system automatically forms, loads and closes a wide range of carton sizes at rates of up to 60 per minute. Glue, fold or tuck, the versatile and Kartnr can be used to just form cartons, hand load or full automation. Features include heavy duty steel frame, PLC with colour touchscreen, tool-less removable change parts, interlocked safety doors and small foot print. Great for packaging a wide range of items including containers, bottles, cosmetics, candles, pharmaceuticals, consumer goods and much more.
BlueMed Disposable Shoe Covers
Shoe covers are an important part of Personal Protective Equipment (PPE) for cultivators. By using shoe covers, a barrier is created between users and their work environment which protects against cross-contamination and increases workers safety. BlueMed’s shoe covers offer various properties which include protection against fluids (waterproof), protection against slipping (Anti-Skid) and low linting. The company designs its own fabrics that create a perfect balance between performance, durability and cost. They’re available in many colours and sizes up to men’s 15, are easy to slip on and come with multiple packaging options. From dry or wet floors to rough and slippery, BlueMed shoe covers offer a reliable solution to keep you and your crop safe. BlueMed is a Canadian manufacturer of disposable shoe covers. Its plant is approved by Health Canada and delivers consistent professional grade quality products.
22
Cannabis Prospect Magazine | June 2019
Follow us on @cannabispromag
The Canadian cannabis industry is everchanging. Cannabis Prospect Magazine is proud to offer multiple platforms to keep you up to date in this constantly evolving industry. Stay informed and grow with us!
Cannabis Prospect Magazine
New Chain on the Block How Blockchain is Building Security in the Cannabis Industry
O
By Robert Galarza
ver the last several years, blockchain technology and cannabis have been the volatile darlings of the stock market. However, marrying the two industries can provide a much-needed benchmark of accountability to the industry. The federal legalization of cannabis in Canada, and across several states, has left regulators somewhat in the dark about how to ensure the rules are being abided by. In the US, for example, cannabis retail outlet Sweet Leaf lost its licence when three founders were charged and subsequently pleaded guilty to “looping”, meaning customers were able to make repeat purchases that went over Denver’s maximum daily limit. In Canada, licensed producer Bonify Medical Cannabis was caught with 200 kg of unlicensed cannabis in its facility which it also distributed and sold, leading to a licence suspension. The RCMP is not pursuing a criminal investigation at this time. Although any new industry is bound to test the limits of acceptable behaviour, the aforementioned transgressions could have been easily mitigated with blockchain due to the immutable nature of the data placed into the record. In other words, it becomes incredibly difficult to game the system when the information being recorded is digitally accessible by regulators and protected against manipulation. The term ‘blockchain’ gained recent popularization through the explosion of cryptocurrencies like Bitcoin and 24
Cannabis Prospect Magazine | June 2019
Ethereum, but the technology can be used to verify data well beyond monetary transactions. When data is stored in a centralized location, it is easy (well, easier) for that information to be corrupted. We can look at data breaches at large organizations like JP Morgan and Equifax to see that a central registry of data has multiple weak points. Once that data has been altered, there is no way to check it for validity. In the event that hard records are kept, it’s a lengthy and inefficient way to cross-reference data. Hard records are also susceptible to tampering or succumbing to the elements. Blockchain offers a solution by storing that data across a network. This makes information stored in the chain virtually incorruptible. Once data has been verified, it becomes a time-stamped record in a decentralized ledger that is cryptographically secured. That ledger can only be updated via consensus. Large amounts of data can be compressed into smaller, hashed data that can be easily stored and transmitted throughout the network. This also bolsters the security of the encrypted data. Integrating Old and New As with many press releases coming out the cannabis industry designed to build hype, ‘blockchain’ has become a buzzword among canna-companies to build off the pre-existing excitement surrounding cryptocurrencies. While blockchain is certainly an exciting play within the
realm of data security, it is important to remember that it is part of a pre-existing ecosystem, and not a be-all-end-all solution. We all have pre-existing legacy systems in place like outdated government software and cloud-based systems. If you’re going to use blockchain to store and track information, it has to connect with the overall architecture of other systems. It’s a big and costly fix to put blockchain at the epicentre of all information solutions. Particularly within the cannabis industry, it should live in very specific sets where integrity is an issue, like testing, shipping and logistics. Creating Trust and Accountability In Canada, the cannabis industry is just getting started under Bill C-45 regulations. While this does not discount an established legacy market, this new landscape is still in its infancy. As such, there has been a cautious level of skepticism from other institutions like government regulators and banks. Stigma plays a role for this sentiment, but there is also a founded level of hesitation that follows any emerging market. Great press releases, high valuations and players from alcohol and tobacco are not enough to curb doubts. Implementing blockchain for
L
record-keeping creates a firm line for honest actions. By adding an additional layer to elements of compliance such as lab testing, and seed-to-sale tracking, the industry can make major gains in terms of establishing trust across other industries and institutions. Blockchain also adds another layer of trust between producers and consumers. One of the best sources of intellectual property in the cannabis industry are cultivar genetics. In the pre-regulated market, it was easy to name a strain for marketing purposes without honouring the actual genetic makeup of the plant. As a consumer, that means you don’t actually know what you’re buying. Blockchain can be used to trace clones back to their mother plant, ensuring that consumers are always acquiring their intended purchase. We’re still a young industry and eyes are on us to either slip up or step up. By implementing data security controls, we can hold ourselves and the industry accountable and facilitate trust-building that is needed for accelerated growth.
“The term ‘blockchain’ gained recent popularization through the explosion of cryptocurrencies like Bitcoin and Ethereum, but the technology can be used to verify data well beyond monetary transactions.”
Robert Galarza is the CEO of TruTrace Technologies
The More Things Change
ast April Blockstrain Technology Corp. approved the change of name of the Company to TruTrace Technologies Inc. In addition, the company has been conditionally approved to switch from TSX to CSE. “We’re excited to continue the strong work we started under this new banner TruTrace Technologies. It is a more accurate reflection of our expanded full service enterprise software solution and better captures the full breadth of our offerings,” said Chief Executive Officer Robert Galarza. “It also better communicates the true extent of the opportunities for our technology that provides value and integrity, not just to the cannabis industry but other industries as well.” In the months since the name change TruTrace Technologies has entered into strategic working relationships with Strainprint Technologies Inc. and Molecular Science Corp. “We’re excited to explore combining our award-winning data, analytics and research capabilities with TruTrace’s established and powerful platform. As the leading source of medical cannabis use data, with over 60 million data points from 1.2 million medical cannabis patient reported outcomes, we are uniquely positioned to work alongside TruTrace to help drive standardization, transparency and compliance that will shape the global cannabis industry in a meaningful way,” said Strainprint CEO, Andrew Muroff. “MSC’s collaboration with TruTrace represents an important step towards establishing and maintaining world-leading standardization and transparency for cannabis quality control in this rapidly-evolving market. The integration of MSC’s analytical testing expertise with TruTrace’s robust and secure technology platform is an opportunity for both parties to make a significant contribution to this important goal,” said Molecular Science Corp. CEO, Christian Carswell.
June 2019 | Cannabis Prospect Magazine
25
Provincial Updates/
Ontario
Six more additional cannabis retail stores have been added to the initial nine that opened at the beginning of September: Nova Cannabis, Ameri and Hobo Recreational Cannabis Store in Toronto; Canna-Canaba locations in Hamilton and Sudbury; and one Tweed location in London.
Manitoba
Seven retailers were chosen on May 15, 2019 as prequalified retailers selected by algorithm during Manitoba’s Cannabis Retail Opportunities Draw. They are as follows: Westleaf Retail Inc. (Altona), 10022915 Manitoba - Garden Variety (Flin Flon), The Viscount Gort Motor Hotel (Lac du Bonnet), Canna Cabana Inc. (Niverville), 2296476 Ontario Inc. - The Corktown Cannabis Company (Municipality of Russell-Binscarth), Fire & Flower Inc. (Swan River), and 3381102 Manitoba Ltd. - Northern Hotel (Virden).
Alberta
Alberta’s cannabis sector creates a unified voice with the launch of the Alberta Cannabis Council (ACC). Members include Fire & Flower, Queen of Bud, Sundial Growers, 420 Investments and Candre Cannabis Inc. Additionally, two Canna Cabana retail locations have opened in the province. Fire & Flower has added two additional locations bringing its national total to 17.
26
Cannabis Prospect Magazine | June 2019
Quebec
The Quebec government has moved away from its plan to ban cannabis users from smoking in parks and other public spaces. Premier François Legault originally vowed to tighten restrictions on cannabis sales and consumption, making the proposed changes a part of his original election platform. The Quebec government is, however, standing by its plan to raise the age of purchase and consumption from 18 to 21. Jean-François Bergeron has been appointed president and CEO of the The Société québécoise du cannabis (SQDC).
Saskatchewan
Fire & Flower acquired four locations from Prairie Sky Cannabis in the province in May 2019. Prairie Records opened its retail store in Saskatoon in late April.
British Columbia
Since legalization the BC Liquor Distribution Branch (LDB) has engaged with 34 licensed producers and welcomed 18 private retailers to its wholesale line of business. The Liquor and Cannabis Regulation Branch has accepted 480 applications, 331 of which are awaiting local government approval. The LDB has also been actively investigating potential locations for the rollout of its network of BC Cannabis Stores.
Prince Edward Island
PEI Cannabis is introducing a recycling program in response to growing concerns voiced by consumers over plastic waste being generated by their products. With the new program, Islanders can now drop off all their cannabis packaging, including plastic bags and canisters, single joint tubes and cannabis oil bottles, for recycling. The new recycling program is a partnership between cannabis company Canopy Growth and recycling company TerraCycle.
Newfoundland & Labrador
Canopy Growth Corporation, including its Tweed brand, announced the appointment of Mike Lee to its executive leadership team in the acting role of Chief Financial Officer (CFO), effective June 1, 2019. Mike’s permanent role as CFO will commence upon receiving Health Canada security clearance required for all Officers and Directors of the Company.
Nova Scotia
After a national search the Nova Scotia Liquor Corp. has found a new president and CEO. Greg Hughes of Waverley will start his new role with the Crown corporation on May 31, Finance Minister Karen Casey announced on Wednesday. Hughes will replace former president and CEO Bret Mitchell who resigned in February for personal reasons. NSLC board chair George McLellan has been acting in the position in the interim.
New Brunswick
Cannabis NB has added three licensed producers to its list of suppliers providing adult-use recreational cannabis products. The addition of Supreme’s 7ACRES Brand in February, and more recently, Up Cannabis and Blissco, represents the three latest licensed producers who have partnered with Cannabis NB to provide products online and in its 20 stores across the province.
Yukon / Northwest Territories / Nunavut The Yukon Liquor Corporation has been accepting applications for private retail cannabis licences since February 20, 2019. Applications are available online and through the Yukon Liquor Corporation. The supply of cannabis has begun to stabilize somewhat in the NWT. While the variety of available products remains a challenge, cannabis products have been more consistently available for NWT consumers. The Northwest Territories Liquor and Cannabis Commission (NTLCC) orders cannabis on a weekly basis from suppliers as products become available. Cannabis sales decreased slightly in the fourth quarter of the 2018-2019 fiscal year, from $687,955.08 in Q3 (Oct – Dec 2018) to $676,039.71 in Q4 (Jan – Mar 2019). Since legalization, overall sales of cannabis products in the NWT has totaled $1,363,994.79. During the fourth quarter, NTLCC continued to sell dried cannabis and cannabis oil. In addition, cannabis seeds became available for purchase from NTLCC, accounting for $557.28 in sales from Jan. 1 – Mar. 31, 2019. As of April 2019 Nunavut has a second supplier shipping its products to the territory: Agmedica Bioscience of Chatham, Ontario.
June 2019 | Cannabis Prospect Magazine
27
Seven Keys to a Successful Drug & Alcohol Policy
Y
By Wayne St. John
our drug and alcohol policy sets the stage for a successful fit-for-duty program. Having a welldocumented policy provides a framework for dealing with the difficult, and often time-sensitive issues surrounding substance abuse, medical conditions and related stress and fatigue. So what makes a good policy? We have witnessed seven keys that our partners with successful policies share. They include: 1. Purpose of the policy Although the obvious purpose would be to have people not come into work under the influence of drugs and/or alcohol, there also needs to be more depth in the underlying end result desired. What goals will this policy help your company achieve? Do you want a safer workplace? How about a decrease in injuries? Increased productivity due to less downtime caused by accidents and near misses? A good policy should align with, and contribute to, the overall safety goals of the company. 2. Roles and responsibilities of supervisors and employees Having a successful policy means that both supervisors and employees are aware of and understand their roles and responsibilities in terms of what is expected of them when at work. It should outline the job tasks, duties as well as a chain of command. This helps those in knowing what is expected of them, the tasks they may be faced with as well as the person(s) they should contact in times of need. 3. Definitions A rundown of the terms that are used within the policy will allow for clarity, and also deny anyone the excuse “Well I didn’t know what that meant”. Being clear and concise about the specific terms, even if they seem obvious, will give a company something to fall back on if a dispute occurs with employees who claims they didn’t understand. 4. Description of the circumstances under which testing takes place All employees should understand why, when and how testing would take place. Listing the circumstances that 28
Cannabis Prospect Magazine | June 2019
would be deemed “testable” is important to outline, as it will give everyone an understanding of when it is appropriate for testing to occur. 5. Consequences for employees who refuse testing or testing positive Creating a list of consequences that is accessible, visible and easily understood by employees is important in ensuring that everyone is aware of what would happen to them if they choose to refuse a test. If by chance, employees were to say they didn’t know of any such rules, the employer would just have to reference the policy where it is all stated. 6. Self-disclosure and accommodation The policy should provide the requirement for employees to disclose should they have a problem with drug or alcohol abuse. The employer would then have the responsibility to protect these employees and assist them in seeking rehabilitation. The policy should outline all the steps taken when this happens to ensure the rights and interests of both the employee and employer are protected. 7. How results will be stored and what will be done to ensure confidentiality This is very sensitive information of a private nature. Great care is needed so that it is not shared inappropriately. Who has access to the results and in what circumstances? How does your Third Party Administrator (TPA) deliver the results to ensure that only the right people have access? How does your TPA ensure your employee’s private and confidential information is protected throughout the chain of custody? Outlining the answers to these questions within the policy will help improve employee confidence in the policy. A good policy is a foundation for a successful program that helps companies meet their safety goals; a policy development starter kit can be found on CannAmm’s website (www.cannamm) to help your company start your policy. Wayne St. John is a sales manager at CannAmm Occupational Testing Services
SEPTEMBER 4-6, 2019 | TORONTO
CREATING THE FUTURE OF THE GLOBAL CANNABIS ECONOMIC ECOSYSTEM. Empowering business executives, investors and leaders for success in the global cannabis industry. Register today at MJBizCon.com/INTL
CPMINT L50
On April 25th, Oâ&#x20AC;&#x2122;Cannabiz held its first annual awards gala at Casa Loma. Cannabis Prospect Magazine would like to extend congratulations to all of the winners and nominees.
Best in Cannabis Industry Best Canna Innovation
AHLOT Cannabis Collections Ample Organics Boss Ladies of Cannabis BLOC Cannabis Amnesty High On Love Molecular Science Corp. Pineapple Express Delivery*
National Start-Up of the Year
3|Sixty Secure Corp BOAZ Pharmaceuticals Inc. Canweedine Collective Flower & Freedom Grow Tech Labs Leaf Forward MediPharm Pineapple Express Delivery Seven Leaf Starbuds*
Best News Source
Business of Cannabis Jay Rosenthal* Daily Hive Grow Globe and Mail Cannabis Grow Opportunity Her(B) Life High! Canada Magazine Midas Letter New Cannabis Ventures The GrowthOp Vice
Best Marketing Campaign
7ACRES - Respect The Plant* AHLOT Cannabis Curation Committee Recruitment Campaign Big Day Bright Future Cannabis & Coffee Canopy Growth CFAMM HEXO Hi Campaign Spinach Strainprint Technologies
Green Deed(s) Award
Aqualitas Blade Filters Inc. Ethical Image Green Relief* Liberty Clothing Lifford Cannabis Solutions Micron Waste Technologies Stashie Tantalus Labs Terracycle by Tweed
Brand of the Year 48North* Botanica | Premium Herbal & Nutrition Products Broken Coast Choom FashionablyHigh.ca Shatterizer SheCann Cannabis Tokyo Smoke Tweed Up Cannabis
Licensed Producer of the Year 7ACRES
30
Cannabis Prospect Magazine | June 2019
Aurora* Canntrust CannTX HEXO Corp. Corp Indiva Terrascend Tilray Tweed, Inc. Zenabis
Best Software
365 Cannabis Ample Organics* BLOCKStrain Headset Inc HelloMD Merrco Payments Inc. Seed ERP Strainprint Technologies TheraCann OS2 Trellis
Best POS/CRM Software Baker Buddi Cova Software* GetGreenline IndicaOnline springbig Techpos Vend
Best Testing Facility
A&L Laboriatories* Anandia Labs FluroTech - CompleTest High north Key Stone labs KGK Science Molecular Science Corp RPC Saskatchewan Research Council - Environmental Analytical Laboratories Sigma Analytical Services
Best Cannabis Cultivation Product Advanced Nutrients Blue Sky Organics* Boss (Quadron Capital Corp) Cannapro GrowerIQ Remo Nutrients Ultra Trimmer Valens GroWorks Vitalis Extraction Technology
Best Security Service
Packaging Services Cannamation Corp. Cannasupplies.ca Crawford Packaging LeKAC Sourcing Ltd. Nitrotin PakFactory Paxiom* ProAmpac
3|Sixty Secure Corp* Caliber Communications Commissionaires GardaWorld iMotion Inaxsys Security Systems The Surveillance Tri West Integrated Solutions Veridin
2. Best Cannabis People
Best Agency/ Consultant
Cannabis Person of the Year
Cannabiz Group CannDelta CCI (Cannabis Compliance Inc.)* Crowns Agency Detonate Cannabis Agency dicentra Cannabis Consulting Ethical Image Lifford Cannabis Solutions Marigold Marketing & PR PipeDreemz Inc RNMKR Agency
Best Packaging
Canndescent Canndora Canopy Growth Dr. Marijane Root Probiotic Edison Reserve 7g & 15g Top Flower EP Infusions HighOnLove Seven Oaks SIIVVA*
Best Engineering Firm
Argus/Conviron Cannamation Corp Design Systems Canada Ltd. Ehvert Keirton Inc LaPorte Engineering* Montel Inc. SOSCIA Architects and Engineers Inc. Surna
Best Packaging Supplies and Equipment Abbey Packaging Equipment Canadian Cannabis
Abi Roach Alison McMahon Barinder Rasode David Hyde Deepak Anand Jay Rosenthal John Fowler* Jonathan Zaid Lisa Campbell Renee Gagnon
Outstanding Educator of the Year Alex the Chemist Amanda Siebert Ashleigh Brown* Bethany Rae Bill MacDonald Dr. Ira Price Hart Steinfeld Hilary Black Jenna Valleriani Megan Henderson
Social Media Influencer of the Year @ConorMcCannabis Abi Roach Bruce Linton Dan Sutton Gill Pollard Jacqui Childs* Jessica Moran Rachel Colic Terry Lake Unity Marguerite Whittaker
Best Cultivator
Agnes Kwasniewska (HEXO Corp.) Broken Coast* Emblem Flowr James E Wagner Randy Flemming Supreme/7 Acres
Tantalus Labs
Attorney of the Year Chad Finkelstein Harrison Jordan Jack Lloyd Jonathan Sherman Matt Maurer Michael Garbuz Micheline Gravelle Paul Lewin Sarah Leamon Trina Fraser*
3. People’s Choice Best LP Customer Service Abba Medix AgMedica Aurora Beacon Medical Beleave Canna Farms* Emblem Eve & Co Tweed WeedMD
Best Clinic
420 Clinic Calgary Canadian Cannabis Clinics* Harvest Medicine Shaysroots.com Solace Health Network SummerTree medical Synergy Health Services
Cannabis Product of the Year
Best Pre-Rolls
Ace Valley Canna Farms Cove Edison Cannabis Co. Eve & Co Flowr Haven St HEXO Corp.* Indiva Van City Rolls
Best Accessory
Accoutrements Beautiful Burns Rolling Papers Boveda Packs* CaliConnected Hyer Big-E Rig Canndora Eco Four Twenty Personal Air Filter Fashionably High Gear Premium Sidekick Rokin Vapes EASYFILL Stonedware
Best App
Leafly My Canary ParDONE Strainprint Technologies Ltd.* weedmaps
Best Soft Gel Aphria Aurora MedReleaf Spectrum Tilray*
7 Pipe Twisty Blunt Beautiful Burns Rolling Papers CCELL Silo Kanabe Sublinguals Kronico wooden boxes Krush grinders MedReleaf Softgels Province Brand Beer Spectrum Softgels Zeus Arc Gt*
Best CBD Oil
Best Vaporizer
Best THC Oil
ALD Amaze Arizer DaVinci Jupiter Research Ohm Pax - Pax 3 Shatterizer Storz and Bickel - Mighty TOKO Utilian - Utilian 721*
Aphria Rideau CannTrust CBD Drops* CBD Therapeutics - CBD Full Spectrum Oil HEXO Corp. - Elixir CBD Icaria - CBD For Women MedReleaf - Avidekel Oil Organigram - Shubie Spectrum - Yellow Oil Tilray Drops 2:100 Aurora THC Drops CannTrust THC Drops* HEXO Corp. - Elixir THC MedReleaf - Sedamen Organigram - Banook Redecan Reign Drops 30:0 Spectrum - Red Cannabis Oil
Spectrum Red No 2 Tilray 25:0 THC Tweed Highlands Oil
Best Blend Oil
Aphria - Capilano Aurora 1:1 Indica Drops CannTrust 1:1 Drops* Emblem 12:20 HEXO Corp. - Elixir 1:1 Irisa Stars Oil Medrelief Midnight Oil Redecan 15:15 Tilray 10:10 Tweed Penelope Oil
Dried Flower - Best Sativa Broken Coast - Galiano Canntrust OG Kush Edison Reserve - La Strada Haven St. No. 504 Hanna Haze HEXO Corp. - Helios Houndstooth - Tweed* Meridian - Up Cannabis Tantalus Labs Blue Dream Ultra Sour by Zenabis WeedMD White Shark
Dried Flower - Best Indica 7ACRES Sensi Star Aurora - Mattego Avidekel - Medreleaf Cold Creek Kush Beleave DNA Kosher Kush Edison Reserve - Lola Montes HEXO Corp. - Lagoon SAN RAFAEL ‘71 Pink Kush Tantalus Labs Serratus Tweed Baker Street*
Dried Flower - Best Hybrid 7ACRES Jean Guy Aphria - Aphria Sachigo (Sour Kush) Aurora Tower Canopy Growth Lemon Skunk - (DNA Genetics) Peace Naturals White Widow* Redecan God bud Tantalus Labs Skunk Haze Tilray Pink Kush Tweed Penelope Wappa by Zenabis
June 2019 | Cannabis Prospect Magazine
31
You Need to be Rich,
to be Cheap with
A
SECURITY
re you designing your site to resell to another party? Or are you building a site to operate and manage for the next 30+ years? Current regulations set out by Health Canada that pertain to security systems provide little insight on how these systems should be designed to get your cannabis site license approved, however, the inspections related to these areas can be quite difficult to pass. Whether you are a micro-grower or a licensed producer, it is important to consider the security requirements during the planning stages of your grow site. By incorporating these security controls into the planning stages of the building, a major reduction in both capital and operating costs can be realized and will avoid costly upgrades at a later date should there be a need to increase the level of security. The costs to start a grow site can be quite overwhelming for many parties, however, security is not an area where you should be reducing your costs. Inspectors are diligent in ensuring grow sites are fully secured and conform with the recording and retention specifications laid out in the Health Canada Regulations; so much so that we have noticed a common trend among grow sites, many of which have to remove a security system installed in the past 2-3 years and re-designing a solution from scratch in order to comply. This in turn costs growers much more in the long run. An acceptable security design should incorporate, at a minimum, the following four levels of security: »» Uncontrolled licensee areas; »» Controlled licensee areas; »» Restricted areas; »» Secure areas According to Health Canada any area where cannabis would be present must always be visually monitored, this includes corridors and shipping areas. One of the important things to keep in mind is that you don’t just need to comply with the regulations, you also need to protect your facility and personnel. Therefore, other areas of interest are recommended to be added to the surveillance system to enhance security and safety such as reception areas, security operational rooms, mechanical areas and any other area that has access to the growing and storage sectors. Section 64 (1) and (2) of Health Canada’s Regulations mentions that the perimeter must be monitored at all times by visual recording devices to detect any attempted or actual unauthorized access to the site. Each perimeter should
32 Cannabis Prospect Magazine | June 2019
be protected with a barrier so that there are no weak areas to attack, otherwise the barriers will be useless in slowing down a professional thief. It is this concept which forms the basis for most of Health Canada’s security requirements. Perimeter protection can also be achieved using cameras that are supported by Pan Tilt Zoom (PTZ), which are ideal to cover all angles of the perimeter. You can enhance the design by integrating speakers as an audio deterrent when motion is detected, integrating a radar system which can be configured to only register viable motion activity that is detected, as well as video intercom units at entrance points. Section 70 (1), (2) and (3) state that each Operations and Storage area must be monitored at all times by visual recording devices to detect illicit conduct. For a grow area, only the entry and exit points of the area must be monitored by the devices. Cannabis growing sites have a few additional considerations to keep in mind: »» They are an excessive moisture environment, »» The position of bright lighting systems needs to be considered for correct camera placement »» Full visibility in total darkness »» Room layout and machinery position »» Room size When choosing the cameras, it is important that you select a model that supports wide dynamic range (WDR), IR illumination, corridor view, minimum IP66 rated and vandal resistant. In section 73, Health Canada mentions that a visual recording made under section 64 or 70 be retained for at least one year after the day on which it is made. Several factors come into play to comply with this section, in order to obtain an acceptable quality of video without drastically increasing the cost of the recording and archiving solution. The video should be fluid, and your VMS platform should restrict access to the Live Video Stream and Video Exporting. It is best to choose a flexible VMS solution that can grow with your site as the demand increases. As a base, GPU accelerated hardware from a global industry leader should be considered with an open platform IP video management software, combined with a scalable archiving system, a minimum camera resolution of 1080P, and no less than 15FPS, will guarantee to capture moving objects clearly. Nour Muqatash is a sales manager for iMotion Security
Announcements & Appointments/
Budding Careers Ryan Archibald, former president and managing director of VICE Canada, announced the launch of Gram By Gram, a first-of-its-kind global agency devoted to helping cannabis brands grow. During his 14-year tenure at VICE, Archibald established VICE Studio Canada, a thriving multi-platform media business, and oversaw the build of VIRTUE in Canada, the media companyâ&#x20AC;&#x2122;s award-winning global creative agency headquartered in Brooklyn.
Frutarom former CEO and shareholder, Ori Yehudai, is a now partner and assuming as an active chairman, leading the Sade Group. The company is a full-vertical company that covers from seed to cannabis-based pharmaceutical products. The company plans to operate channels in the fields of medicine, food and cosmetics.
Canopy Growth Corporation announced the appointment of Mike Lee to its executive leadership team in the acting role of Chief Financial Officer (CFO), effective June 1, 2019. Mike brings a wealth of experience from the consumer goods & beverages industry, having worked for companies such as E. & J. Gallo Winery, PepsiCo, and recently Constellation Brands, where he served as Senior Vice President & CFO for their US$3B Wine & Spirits Division.
CannTrust Holdings Inc. strengthened its senior leadership team with the appointment of Dr. Len Walt, M.D., MBA, to the newly created position of Chief Medical Officer. Dr. Walt comes to CannTrust with extensive senior leadership experience in the pharmaceutical and biotechnology industries in Canada, USA and abroad. Most recently Dr. Walt held the position of Vice President and Head of Medical Affairs at Sobi Inc., where he led their North American medical and scientific operations.
Organigram Holdings Inc. has appointed government relations expert Cameron Bishop as the Companyâ&#x20AC;&#x2122;s Vice President, Public Affairs and Stakeholder Relations (North America). Most recently, Mr. Bishop led governmental affairs across all levels of federal, provincial, territorial and municipal government in reform of cannabis laws and regulations at another licensed producer in Canada prior to joining Organigram.
Neptune Wellness Solutions Inc. announced the appointment of Martin Landry to the position of Chief of Corporate Development & Strategy. Martin Landry, CPA, CA has cumulated 20 years of experience in capital markets and accounting. In his last position as Managing Director Equity Research at GMP Securities, he developed an extensive network in the cannabis industry.
True Leaf Medicine International Ltd., a global cannabis and hemp wellness brand for pets, has appointed Kevin Cole as President of True Leaf Pet. Kevin brings over 20 years of experience in consumer-packaged goods (CPG) as well as considerable expertise in accelerating businesses and brands in the pet industry. Prior to joining True Leaf, he served as Vice President, Marketing for Mars Petcare Canada. Previously, he was a marketing executive with GlaxoSmithKline (GSK).
Neptune Wellness Solutions Inc. announced Dr. Graham Wood as Chief Scientific Officer (CSO) as of May 1st, 2019. Dr. Wood, holder of a Ph.D. in Neurology and Neurosurgery from McGill University, is a distinguished researcher and executive and a recognized leader in the clinical pharmacology of cannabis with experience with combustible, vaping, sublingual and oral oils and capsules formulations of cannabis.
June 2019 | Cannabis Prospect Magazine
33
Retail Directory Alberta 420 Premium Market D290-9737 MacLeod Trail South Calgary, AB, T2J 0P6 420 Premium Market 46 Sage Hill Passage NW Calgary, AB, T3R 0S4 420 Premium Market 112-5334 72nd Avenue SE Calgary, AB, T2C 4X5 420 Premium Market 205-2515 90t Avenue SW Calgary, AB T2V 0L8 Alternative Greens 12451 97 Street NW Edmonton, AB, T5G 1Z6 Beltline Cannabis Calgary 806 12 Avenue SW Calgary, AB, T2R 0J3 Canna Cabana 1065 Canyon Meadows Drive SE Calgary, AB, T2W 5V3 Canna Cabana 23 Southgate Boulevard, Unit 10 Lethbridge, AB, T1K 6S5 Canna Cabana 10828 124 Street Edmonton, AB, T5M 0H3 Canna Cabana 16 - 5115 49 Street, Box 1991 Whitecourt, AB, T7S 1P1 Cannabis House 6560 170 Avenue NW Edmonton, AB, T5Y 3X6 Clarity Cannabis 1020-8th Avenue Cold Lake, AB, T9M 1K2 Clarity Cannabis 101-416 Centre Street SE High River, AB, T1V 2C2 Clarity Cannabis 5511 – 50th Ave Red Deer, AB, T4N 4B8 Co-op Cannabis 7-8720 MacLeod Trail SE Calgary, AB, T2H 0M4 Daily Blaze 1-5009 50 Street Stony Plain, AB, T7Z 1T3 Fire & Flower 1120 Railway Ave C108 Canmore, AB, T1W 1P4 Fire & Flower 9610 165 Avenue NW Edmonton, AB, T5Z 3L3
34
Fire & Flower Cannabis Co. 313-10451 99 Avenue Fort Saskatchewan, AB, T8L 0V6
NewLeaf Cannabis 9522 Ellerslie Road Edmonton, AB, T6X 0K6
Westside Weed 914 South Railway Street SE Medicine Hat, AB, T1A 2W2
Fire & Flower 261 Gregg Avenue Hinton, AB, T7V 2A7
NewLeaf Cannabis 1328 Mayor MacGrath Drive South Lethbridge, AB, T1K 2R2
British Columbia
Fire & Flower 380-220 Lakeland Drive Sherwood Park, AB, T8H 0N6
NewLeaf Cannabis 20, 338 University Drive West Lethbridge, AB, T1J 5C9
Fire & Flower 40-19 Bellerose Drive St Albert, AB, T8N 5E1
NewLeaf Cannabis 207, 2 Herbert Road St. Albert, AB, T8N 5T8
Fire & Flower 6610-50 Avenue Stettler, AB, T0C 2L2
Nova Cannabis at Grove Landing 17 Nelson Drive, Unit 12 Spruce Grove, AB, T7X 3X3
Global Leaf 106-5401 Temple Drive NE Calgary, AB, T1Y 3R7
Nova Cannabis at Namao 16616 95 Street NW Edmonton, AB, T5Z 3L2
Green Leaf Cannabis 1305-33 Street NE #5 Calgary, AB T2A 5P1
Nova Cannabis at Shoppers South B-8015 104 Street NW Edmonton, AB, T6E 4E3
Greentown Cannabis 5111-49 Street Red Deer, AB, T4N 1V6
Nova Cannabis at Southpointe 101-9310 Southfort Drive Fort Saskatchewan, AB, T8L 0C5
House of Hybrids 6601-43 Street Lloydminster, AB T9V 3E8
Nova Cannabis at Willow Park B252-10816 MacLeod Trail SE Calgary, AB, T2J 5N8
Lucky Leaf Cannabis Retailers 9702 100th Street Grande Prairie, AB, T8V 6N6
Numo Cannabis Corp. 11733 95 Street NW Edmonton, AB, T5G 1M1
NewLeaf Cannabis 29-240 Midpark Way SE Calgary, AB, T2X 1N4
Plant Life 101-4215 80 Avenue Lloydminster, AB, T9V 0X9
NewLeaf Cannabis 18-13750 Bow Bottom Trail SE Calgary, AB, T2J 6T5
Queen of Bud 1717 10 Avenue SW Calgary, AB, T3C 0K1
NewLeaf Cannabis 111-13 Southland Crescent SW Calgary, AB, T2W 0K4
Rocky Mountain Collective 437 Gregg Avenue Hinton, AB, T7V 1N1
NewLeaf Cannabis 110, 1935 - 37 Street SW Calgary, AB, T3E 3E4
Rocky Mountain Collective 393 Drinnan Way Hinton, AB, T7V 2A5
NewLeaf Cannabis 9, 2015 - 32 Avenue NE Calgary, AB, T2E 6Z3
Small Town Buds 102-6 Athabasca Avenue Devon, AB, T9G 1G2
NewLeaf Cannabis 9, 12 Castleridge Drive NE Calgary, AB, T3J 1V4
The Green Exchange 328 South Railway Street Medicine Hat, AB, T1A 2V4
Cannabis-NB 640 St. Peter Ave, Suite #PD201 Bathurst, NB, E2A 2Y7
NewLeaf Cannabis 2, 7400 Macleod Trail SE Calgary, AB, T2H 0L9
Twenty Four Karats 2220-5 Avenue S Lethbridge, AB, T1J 4G6
Cannabis-NB 157 Water Street, Unit 14 Campbellton, NB, E3N 3L4
NewLeaf Cannabis #30, 12981 – 50 Street Edmonton, AB, T5A 3P3
Waldo’s 420 Store 946 16 Street SW Medicine Hat, AB, T1A 8A4
Cannabis Prospect Magazine | June 2019
B.C. Liquor Distribution Branch store Columbia Place Shopping Centre 1210 Summit Drive Kamloops, BC, V2C 6M1
Manitoba Delta 9 Cannabis Store Unit 1 – 827 Dakota Street Winnipeg, MB, R2M 5M2 Hiku/Tokyo Smoke 55B Goulet Street Winnipeg, MB, R2H 0R5 Meta Cannabis Supply Co. Otineka Mall, Hwy 10 N Opaskwayak, MB, R0B 2J0 Meta Cannabis Supply Co. 79 Keeshkeemaquah Drive Portage La Prairie, MB, R1N 4B1 Meta Cannabis Supply Co. Unit 23 – 584 Pembina Highway Winnipeg, MB, R3M 2M5 Meta Cannabis Supply Co. 1881 Grant Avenue Winnipeg, MB, TBD Meta Cannabis Supply Co. 58 Cree Road Thompson, MB, R8N 0N2 Tweed 1450 Main Street South Dauphin, MB, R7N 3H4 Tweed 120 Osborne Street Winnipeg, MB, R3L 1Y5 Tweed 2705 Victoria Avenue Brandon, MB, R7B 0N1 Tweed 1592 Regent Avenue Winnipeg, MB, R2C 3B4
New Brunswick
Cannabis-NB 784 Dieppe Blvd. Dieppe, NB, E1A 9G5
Retail Directory Cannabis-NB 575B Rue Victoria Edmunston, NB, E3V 3M9
Newfoundland and Labrador
Tweed 62 Broadway Avenue Corner Brook, NL, A2H 6H4
Nova Scotia Liquor Corp. 104a Starrs Road Yarmouth, NS, B5A 2T5
Cannabis-NB 435 Brookside Drive, Unit A002 Fredericton, NB, E3A 8V4
Clarenville 258 Memorial Drive Clarenville, NL, A5A 1N9
Tweed 81 Conception Bay Highway S Unit 3 Conception Bay, NL, A1W 3A3
Ontario
Cannabis-NB 45 Woodside Lane Fredericton, NB, E3C 2R9
C-Shop 230 Conception Bay Highway Bay Roberts, NL, A0A 1G0
Tweed 50 Commonwealth Ave, Unit 5 Mount Pearl, NL, A1N 1W8
Cannabis-NB 2540 King George Highway Miramichi, NB, E1V 6W5
C-Shop 5 Murphy Square Corner Brook, NL, A2H 1R4
Tweed 193 Kenmount Road Unit 4A St. John’s, NL, A1B 3P9
Cannabis-NB 165 Main Street, Suite 8 Moncton, NB, E1C 1B8
C-Shop 120 Columbus Drive Carbonear, NL, A1Y 1B3
Tweed 187-189 Water Street St. John’s, NL, A1C 1B4
Cannabis-NB 40 Wyse Street Moncton, NB, E1G 2K5
C-Shop 166 Conception Bay Highway Conception Bay South, NL, A1W 3A6
Tweed 27 Aspen Drive, Happy Valley Goose Bay, NL, A0P 1C0
Cannabis-NB 9316 Route 3 Old Ridge, NB, E3L 4W8
C-Shop 100 Laurell Road Gander, NL, A1V 2V5
Nova Scotia
Central Cannabis 666 Wonderland Road, N Unit 6B Brampton, ON, L6W 2E2
Cannabis-NB 16 Commerce Drive Oromocto, NB, E2V 4T4
C-Shop 17 Cromer Avenue Grand Falls-Windsor, NL, A2A 1X3
Nova Scotia Liquor Corp. Amherst Mall, 126 South Albion Street Amherst, NS, B4H 2X3
Fire & Flower 75 Brock Street Kingston, ON, K7L 1R8
Cannabis-NB 12F. Tribe Road Pert-Andover, NB, E7H 0A5
C-Shop 150 Old Placentia Road Mount Pearl, NL, A1N 4Y9
Nova Scotia Liquor Corp. 151 Church Street Antigonish, NS, B2G 2E2
Fire & Flower 129 York Street Ottawa, ON, K1N 5T4
Cannabis-NB 16 Allee De La Cooperative Richibucto, NB, E4W 5V8
C-Shop 55 Stavanger Drive St. John’s, NL, A1A 5E8
Nova Scotia Liquor Corp. 274 Dufferin Street Bridgewater, NS, B4V 2G7
Hobo Recreational Cannabis Store 391 Bank Street Ottawa, ON, K2P 0T2
Cannabis-NB 34 Lacey Drive Rothesay, NB, E2E 3J9
C-Shop 260 Blackmarsh Road St. John’s, NL, A1E 1T2
Nova Scotia Liquor Corp. 5540 Clyde Street Halifax, NS, B3J 1E3
Ganjika House 186 Main Street South Brampton, ON, L6W 2E2
Cannabis-NB 16 Wright Street Sackville, NB, E4L 4P8
C-Shop 62 Prince Rupert Drive Stephenville, NL, A2N 3W7
Nova Scotia Liquor Corp. Downsview Plaza, 752 Sackville Drive, Unit 114 Lower Sackville, NS, B4C 2R2
Nova Cannabis 499 Queen Street W Toronto, ON, M5V 2B4
Cannabis-NB 55 Lansdowne Avenue Saint John, NB, E2K 3A1
Deer Lake Green Stop 31 Upper Nicholsville Road Deer Lake, NL, A8A 2G1
Nova Scotia Liquor Corp. 610 East River Road New Glasgow, NS, B2H 3S1
Cannabis-NB 168 Rothesay Avenue, Suite 107 Saint John, NB, E2J 2B5
High North 1 Neal Drive Labrador City, NL, A2V 1Y5
Nova Scotia Liquor Corp. 9256 Commercial Street, Unit 230 New Minas, NS, B4N 4A9
Cannabis-NB 313-B Main Street Shediac, NB, E4P 2A8
Paradise Green Shop 1316 Topsail Road St. John’s, NL, A1L 1N9
Nova Scotia Liquor Corp. 95 Keltic Drive Sydney River, NS, B1S 1P4
Cannabis-NB 138 Main Street (Gateway Mall) Sussex, NB, E4E 3E1
The Natural Vibe 306 Water Street St. John’s, NL, A1C 1B8
Nova Scotia Liquor Corp. 6 Court Street Truro, NS, B2N 3H7
Cannabis-NB 3524 rue Principale Tracadie, NB, E1X 1B9
The Reef Cannabis Shop 386 CBS Highway Holyrood, NL, A0A 2R0
Nova Scotia Liquor Corp. 650 Portland Street Dartmouth, NS, B2W 6A3
Thomas H. Clarke’s Distribution 1614 Portugal Cove Road Portugal Cover, NL, A1M 3G3
Nova Scotia Liquor Corp. 3601 Joseph Howe Drive Halifax, NS, B3L 4H8
Ameri 20 Cumberland Street Toronto, ON, M3W 1J5 Canna Cabana 2019 Long Lake Road, Unit B Sudbury, ON, P3E 4M8 Canna Cabana 2019 Long Lake Road, Unit B Sudbury, ON, P3E 4M8 Canna Cabana 1317 Barton Street East, Unit H09, Hamilton, ON, L8H 2V4
RELM Cannabis Co. 103-4031 Fairview St. Burlington, ON, L7L 2A4 Spiritleaf 27 Princess Street, Suite 101 Kingston, ON, K7L 1A3 Superette 1306 Wellington Street, W Unit 100 Ottawa, ON, K1Y 3B2 The Niagara Herbalist 33 Lakeshore Road, Unit 15 St. Catharines, ON, L2N 7B3 The Hunny Pot Cannabis Co. 202 Queen Street W Toronto, ON, M5V 1Z2 Tweed 1025 Wellington Rd, Unit A-2 London, ON, N6E 1W4
June 2019 | Cannabis Prospect Magazine
35
Retail Directory Northwest Territories Fort Simpson Beverages 10021 100th Street Fort Simpson, NW, X0E 0N0 Fort Smith Liquor Store 87 Breynat Street Fort Smith, NW, X0E 0P0 Hay River Liquor Retailer 101- 76 Capital Drive Hay River, NW, X0E 1G2 Normal Wells Liquor Agency 15 Franklin Avenue Norman Wells, NW, X0E 0V0 Yellowknife Liquor Store 100 Borden Drive Yellowknife, NW, X1A 3W6
Prince Edward Island P.E.I. Cannabis 85 Belvedere Avenue Charlottetown, PEI, C1A 4N8 P.E.I. Cannabis 509 Main Street Montague, PEI, C0A 1R0 P.E.I. Cannabis 478 Main Street O’ Leary, PEI, C0B 1V0 P.E.I. Cannabis 425 Granville Street Summerside, PEI, C1N 3C3
Quebec Société Québécoise Du Cannabis 965 boul. St-Joseph Drummondville, QC, J2C 2G9 Société Québécoise Du Cannabis 95 route du Président-Kennedy Lévis, QC, G6V 6C8 Société Québécoise Du Cannabis 172, Montée Masson Mascouche, QC, J7K 3B5 Société Québécoise Du Cannabis 13421 boulevard Curé-Labelle Mirabel, QC, J7J 1G9 Société Québécoise Du Cannabis 9256, Boulevard de l’Acadie Montreal (L’Acadie), QC, H4N 3C5 Société Québécoise Du Cannabis 970, Rue Sainte-Catherine Ouest Montreal (Peel), QC, H3B 1E3 Société Québécoise Du Cannabis 6872 St-Hubert Montreal (Rosemont-Petite-Patrie), QC, H2S 2M6
36
Société Québécoise Du Cannabis 670 rue Bouvier Quebec City, QC, G2J 1A7
Prairie Records 720 Broadway Avenue Saskatoon SK, TBD
Société Québécoise Du Cannabis 2491 chemin Sainte-Foy Quebec City, QC, G1V 1T7
Prairie Records 170-3020 Preston Avenue Saskatoon SK, TBD
Société Québécoise Du Cannabis 110-1 rue St-Germain ouest Rimouski, QC, G5L 4B5
Spiritleaf 1251 Main Street N Moose Jaw SK, S6H 6M3
Société Québécoise Du Cannabis 174 boulevard Saint-Luc suite 114 Saint-Jean-sur-Richelieu, QC, J2W 1C7
Tweed 101 Centre Street Meadow Lake, SK, S9X 1L2
Société Québécoise Du Cannabis 3548 boul. des Forges Trois-Rivières, QC, G8Y 5H5
Tweed 1501 Albert Street Regina, SK, S4P 2S5
Saskatchewan
Tweed 141-143 2nd Avenue Saskatoon, SK, S7K 2A9
Eden Cannabis Co. Hwy 46, north on Range Road 2185 RM of Edenwold, SK, Fire and Flower Inc. 302 114 Street #2 North Battleford, SK, S9A 2M6 Fire and Flower Inc. 275 Broadway St E #5C Yorkton, SK, S3N 3K7 5 Buds Cannabis Bay 18-19, 810 Centennial Blvd. Warman SK, S0K 4S1 Jimmy’s Cannabis Co. 82 B Battleford Crossing Battleford SK, S0M 0E0 Jimmy’s Cannabis Co. 4 - 421A Kensington Ave. Estevan SK, S4A 0VA Jimmy’s Cannabis Co. 1 - 701 Centennial Dr. N Martensville SK, S0K 0A2 Jimmy’s Cannabis Co. 506 Main Street Moosomin SK, S0G 3N0 Living Skies Cannabis 208 3rd Avenue S Saskatoon SK, S7K 1M1 New Leaf Emporium Inc. 602 Main Street Moose Jaw SK, S6H 3K4 Prairie Cannabis Ltd. 180 17th Street W Prince Albert SK, S6V 3X5 Prairie Records 100 2nd Avenue N Warman SK, S0K 4S0
Cannabis Prospect Magazine | June 2019
Wiid Boutique Inc. 4554 Albert Street Regina SK, S4S 6B4
Visit the New www.CannabisProOnline.com
Access us anywhere, on any device. PLUS:
• Daily News Items • Exclusive Articles • Product Marketplace
• Business Directory • Classifieds • And More...
Cannabis Prospect Magazine
Got an idea for the next big thing in cannabis? Leaf Forward invests money (up to $75,000) and a whole lot of time and expertise into promising early stage cannabis startups. Give your startup the boost it needs with our intensive 16-week accelerator program and industry-leading mentorship network. Visit www.leafforward.org to learn more.
Advertiser Index CannTX.........................................................................................40 dicentra Cannabis Consulting........................................................6 Ethical Image.................................................................................23 iMotion Security............................................................................39 Leaf Forward.................................................................................38 MJBiz Expo...................................................................................19 Mackie Research Capital Corp......................................................2 Oâ&#x20AC;&#x2122; Cannabiz...................................................................................7 Strainprint Technologies...............................................................29 Vividata.........................................................................................17
38
Cannabis Prospect Magazine | June 2019