Cannabis Prospect Magazine

CANNABIS PROSPECT MAGAZINE VOL. 5, ISSUE 2

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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.

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Atlas Global Signs Exclusive Partnership with Snoop Dogg to Launch Cannabis Brands Internationally

Atlas Global Brands Inc., a cannabis company with expertise across the value chain, is pleased to announce that on February 28, 2023, the company entered into an exclusive international licensing agreement with Calvin Broadus Jr. a.k.a “Snoop Dogg”. The agreement, which lasts up to five years, grants Atlas Global the exclusive right to use the artist’s name, likeness, logos, trademarks or other approved intellectual property to produce, package, manufacture, distribute, sell, advertise, promote and market cannabis flowers, pre-rolls, concentrates, oils and edibles, and personal vaporizers for medical purposes in Germany, Israel, and Australia and recreational purposes in Canada.

The Blinc Group Emerges Triumphant in ITC Investigation Brought by Chinese CCELL® Manufacturer

The Blinc Group, Inc. (Blinc), a leading innovator in the cannabis vaporizer industry, is pleased to announce that Judge Cheney, Chief Administrative Judge of the International Trade Commission (ITC), has rejected the allegations that Shenzhen Smoore Technology Limited (Smoore) made against Blinc in an investigation that Smoore initiated with the ITC. The investigation, which Smoore filed on October 8, 2021, alleged that Blinc imported and sold vaporization products that infringed two of Smoore’s patents. After a thorough review of the evidence and arguments by both sides, Chief Judge Cheney determined that Blinc’s products did not infringe Smoore’s patents, and found no violation, clearing the company of any alleged wrongdoing. In a decision dated February 1, 2023 (the Decision), Chief Judge Cheney found that Smoore had utterly failed to present adequate arguments

High Tide Enters New Vertical in the United States With Launch of Cannabis Seeds

High Tide Inc., a retail-focused cannabis company with brickand-mortar as well as global e-commerce assets, has begun selling cannabis seeds in the U.S., initially through its wholly owned subsidiaries Grasscity and Smoke Cartel. The company plans to expand seed sales to additional online retail platforms within its portfolio in 2023. This launch comes on the heels of the American Drug Enforcement Agency’s recent official determination that cannabis seeds fall under the legal definition of hemp and can therefore be sold openly in the U.S. “With our entry into this new and exciting complementary vertical, we continue to extend and strengthen our integrated value chain, providing our customers with a complete cannabis experience, in addition to the opportunity to further enhance our consolidated gross margin profile. This new business venture will greatly expand our U.S. customer base,” said Raj Grover, President and Chief Executive Officer of High Tide.

for infringement, resulting in waiver, found multiple points of non-infringement for each patent, and found that Smoore, a Chinese company, did not have the requisite domestic industry for an ITC investigation. The Decision also found that Smoore’s U.S. Patent No. 10,357,623 is invalid for indefiniteness under 35 U.S.C. § 112 and unenforceable due to inequitable conduct that occurred in the prosecution of the patent family. The Decision is subject to review by the full ITC.

Ontario Cannabis Store (OCS) Announces Upcoming Changes to Pricing Structure

The Ontario Cannabis Store (OCS) announced its plans to transition to a fixed mark-up pricing model, along with reductions in its margins, to help enable a vibrant cannabis marketplace. After completing a detailed review of its pricing structure, the OCS will move to a fixed mark-up pricing model that will create greater transparency and consistency for licensed producers. Reduced margin levels are expected to help enable a vibrant marketplace so that it is better positioned to compete with illegal operators. With this change, it is estimated that OCS margin reductions will contribute approximately $35 million into the marketplace in 2023-24, with a full fiscal year reduction in 2024-25 estimated at approximately $60 million and compounding annually in years thereafter as the market grows. Pricing changes will be implemented for September 2023, allowing adequate time for OCS to work with licensed producers to consider changes to existing products and products scheduled to launch in upcoming 2023 releases.

market forecasts. Global legal cannabis spending grew 5.2% to $32 billion in 2022 and forecasts a compound annual growth rate (CAGR) of 13.2% from 2022 to 2027, resulting in a market size of $59.6 billion by 2027. Despite economic uncertainty and rising inflation, BDSA expects legal U.S. cannabis sales to grow 14% by the end of 2023. Globally, cannabis markets beyond the U.S. and Canada are forecast to grow to ~$9.5 billion in 2027, up from $1.8 billion in 2022 at a CAGR of 40%. BDSA forecasts the Canadian market will see 12% overall growth this year, becoming a $5.7 billion market by 2027 at a CAGR of 6.3%. New adult-use markets and Germany and Mexico are the primary drivers of global growth, and current limited medical cannabis programs are expected to expand, primarily within the European Union and Latin America.

PeakBirch Commerce Execution of Definitive Agreement Regarding Acquisition of VAPED

PeakBirch Commerce Inc. (formerly PeakBirch Logic Inc.) has signed an asset purchase agreement dated February 23, 2023 (the “APA”) with Kiaro Brands Inc. (“KBI”) and Kiaro Digital Ltd., pursuant to which, the company will acquire the assets used in connection with the e-commerce herbal vaporizers and accessories retail business (the “Business”) operated by KBI indirectly through 8651159 Canada Inc. (formerly Sculthorp SEO Inc.) and Kiaro Australia Pty Ltd.

Bdsa

Reports Global Legal Cannabis Sales to Reach $59.6 Billion in 2027 BDSA, the leading provider of market intelligence for the cannabis industry, released its updated five-year global legal cannabis