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SLANG Worldwide Co-Founders Peter Miller and Billy Levy Named Among Most Influential People in Cannabis by High Times 100
NEWS PROVIDED BY
SLANG WORLDWIDE
Mar 28, 2019, 07:00 ET
F.Y.I...Despite having a share price of just $0.23 in 2015, OrganiGram Holdings Inc (TSXV:OGI) stock has quickly risen to a market cap of more than $1.3 billion. Since the start of 2019, shares are up another 62%.
Now with a valuation that rivals other notable pot stocks like Green Organic Dutchman Holdings Ltd (TSX:TGOD) and Hexo Corp (TSX:HEXO), why do shares seem to consistently move higher by large jumps every month? Is the latest 62% rise due to improving fundamentals or pure hype?
The optimism is warranted
As Fool contributor Keith Speights wrote in September, “OrganiGram hasn’t generated as much buzz as bigger Canadian marijuana stocks. But that might not be a bad thing.”
Since that article, shares have popped more than 100%. It seems that OrganiGram is finally getting the hype that nearly every other cannabis-related stock has received.
As with its competitors, OrganiGram is promoting its strong growth opportunities across Canada, as well as its leading cost position. Those are advantages that are found in every investor presentation across the entire industry. OrganiGram seems to be able to back the claims, however.
As a cannabis producer, OrganiGram is focused on ramping and expanding its three-level, indoor growing facility located in New Brunswick. By the end of 2019, production should hit 113,000 kilograms on an annualized basis, up from 36,000 kilograms at the start of the year. Green Organic Dutchman, by comparison, will only bring 14,000 kilograms of cannabis online this year.
OrganiGram is also one of only three companies with licensing agreements in all ten provinces. Management has been putting the pieces into place to capitalize on international growth opportunities as well.
In total, OrganiGram looks like an ideal way to capitalize on the cannabis boom. But what about the valuation?
Now it gets interesting
With less name recognition, it’s reasonable to be wary of OrganiGram’s $1.3 billion valuation, especially as better-known peers like Green Organic Dutchman and Hexo trade in a similar range. Looking at the fundamentals, however, OrganiGram is a relative bargain.
First, the company has enough cash on hand to fund its expansion plans this year, so dilution won’t be as necessary. Second, shares are simply a steal versus the rest of the cannabis industry.
Based on 2019 consensus estimates, the average cannabis stock trades at 226x EBITDA. OrganiGram stock trades at just 22x this year’s EBITDA.
Looking further ahead, the steep valuation gap remains. The average peer now trades at 53x 2020 EBITDA while OrganiGram is valued at just 14x EBITDA.
With a skilled management team, solid balance sheet, and reasonable growth targets, it’s tough to justify such a discounted valuation.
Your best bet?
If the cannabis market continues to take off, OrganiGram stock looks like a steal compared to competitors like Green Organic Dutchman and Hexo. Even if industry hype recedes, OrganiGram’s valuation has less room to contract.
Today, OrganiGram appears like a great way to play the cannabis market, even after its recent 62% run.
From an Equity.Guru article
Organigram Holdings’ (OGI.V) VR experience leaves questions unanswered but rep rehab is afoot
Joseph MortonMarch 20, 20190
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Part of doing your due diligence as an investor is learning everything you can about your investment.
For the cannabis-space, that means things like square footage and production capacity, but also includes some hard questions about cost-cutting measures, and other business practices that might bite into an LP’s profit margin.
Unless you’re willing to take time off from your busy schedule to tour a facility, it’s hard to get the complete picture, and even then your experience is going to be curated to ensure that everything looks rosy–even if it isn’t.
But there is always the off chance that something unexpected might happen that reveals flaws in the design.
Unfortunately, a virtual walkthrough is different. Your chance of finding out if anything untoward is going on is virtually zero.
Organigram Holdings’ (OGI.V) virtual walkthrough spares you the airfare by leading you on a 3D tour of their cannabis cultivation and processing facility in Moncton, N.B.
Schematics for production facility stage 3 courtesy of investor deck.
What is Organigram anyway?
Organigram is a cannabis company based in Atlantic Canada that produces dried flower and oils for the medical and recreational markets.
The five-part virtual walkthrough follows the life-cycle of the cannabis plant from seed to packaging, including Organigram’s CO2 and ethanol extraction facility and a segment on their 40 MW substation.
The app showcases a full 360 degree view while you tour their operation at their Moncton, N.B. campus and see five different aspects of their production.
The walkthrough shows:
Mineral cloning pre-vegetation potting
Plant life cycle
Extraction and Laboratory
Mechanical and Irrigation
Processing, drying and packaging
The tour doesn’t lead through each room of their 180,000 square production space on their 14 acres of land, but instead offers samples of their three-tier growth operation with their extraction, irrigation and processing stations.
Organigram’s website says the company has fully-automated everything from their irrigation system and potting to their packaging lines, but the walkthrough shows crowds of people performing these tasks.
This isn’t exactly an indictable offense in terms of investor information. If anything it makes the company seem more relatable, but it doesn’t accurately display the everyday functions of the company.
The company’s origin story doesn’t raise any red flags either.
They started with enough space and employees to produce 5,000 kilograms of cannabis a year in 2013, and expanded their production capacity to 36,000 kilograms and employed 500 staff by 2018.
Organigram is also building two more phases that should boost their overall production by 113,000 kilograms by the end of 2019. The company will be expanding on a 56,000 square foot addition that they plan to refurbish to use for edibles, vaporizable products and extractions for October when that market goes live.
The company signed a recreational supply deal with the Province of Nova Scotia when cannabis was legalized in October 2018. Since then, the company has since spread to every other province except Quebec, though Organigram has signed a LOI there.
Courtesy of Organigram’s investor deck.
Organigram’s legal troubles
Back in the day, we threw shade on this company when customers got sick after ingesting the company’s supposedly organic cannabis in 2016, only to learn illegal substances were found in testing. Lawsuit talk was initiated in 2017 after two product recalls involving the use of pesticides myclobutanil and bifenazate, which are not authorized for use on cannabis under the Pest Control Act because, well, when ignited they’re poison.
On Jan. 21, 2019, The Canadian Press reported the class action lawsuit against Organigram was given the green light. Maddy Carter, on behalf of the Wagners law firm, will be suing for punitive damages and compensation for the 4,000 to 5,000 customers allegedly given a false bill of sale.
That passage of OGI’s history is yet to be closed, but from the perspective of a commentator who has had beef with previous management, Equity.Guru’s Chris Parry recently announced that he’d bumped into management at an investor conference and had a heart to heart.
“I asked them about the lawsuit, to which they’re confident they have little to fear, which is fine,” says Parry. “But I also looked through their financials which, frankly, are good, especially when compared to competitors and especially when compared to previous years.”
“Greg Engel has all but turned this ship around, and I told him so. I think, coming from me, a guy who has had issues with the company in the past, the conversation was surprising to them but also affirming. They know they’re doing well, and other LP execs I’ve talked to have remarked on this to me. OGI is officially off my shitlist.”
The savvy investor needs to be curious about what’s not being shown alongside what is. The virtual tour shows more than just Organigram presenting themselves as a sophisticated company eager to adopt new technology – their upward-trending chart, decent financial outlook, and how far they’ve come is enough evidence to suggest they’ve recovered from their pesticide slip up.
–Joseph Morton
F.YI. From an OGI article today, what the future has in store. https://gallery.mailchimp.com/3c0895e2357b00be3cd97064e/images/598a1ffe-d2f5-4f16-8f1a-926200352f60.jpg
SLANG Worldwide Inc. SLGWF is a leading cannabis consumer packaged goods company that operates in 11 U.S states and currently sells their products in over 2,600 retail locations.
The company announced on Monday March 11, that they have launched its RESERVE products in the world's biggest marijuana market, California.
According to BDS Analytics, California is one of the largest cannabis markets in the Unites States with recreational sales of $1.2 billion for the 2018 calender year.
The expansion of SLANG's products in California further boosts the company's portfolio to expand into every U.S state.
RESERVE is filled with high-quality and high-potency distillate cannabis oil with a selection up to 15 top strains.
Being sold alongside RESERVE, SLANG already sells the #2 best-selling cannabis brand in the U.S with O.PenVAPE. They also sell Bakked, which is currently California's #1 best-selling distillate.
SLANG Co-Founders Sell Mettrum Health in 2017 for $300 Million
One thing we love about SLANG Worldwide is their management team and experience in a very competitive industry.
CEO Peter Miller and President Billy Levy were in the tech industry before realizing a huge growth opportunity in the budding cannabis industry.
The two were granted an early marijuana license from Canada in 2014 and eventually formed Mettrum Health which was acquired by Canopy Growth CGC in 2017 for $300 million.
Mettrum was one of the “Blessed Eight”, a group of Canadian marijuana companies that was rewarded the first federal approvals to move marijuana genetics into the legal regime from the black market.
SLANG Acquires Organa Brands for $200 million
SLANG’s acquisition of Organa Brands was truly a game-changer for its portfolio has Organa is a multistate concentrate and infused product manufacturer and the maker of O.PenVAPE brand.
The O.PenVAPE brand is the 2nd best-selling cannabis brand in the U.S, according to BDS Analytics.
Some key numbers for Organa Brands:
More than $100 million of retail revenue for O.PenVAPE products since 2014.
$12 million in revenue for the nine months ending September 30, 2018
SLANG Worldwide Partners with Trulieve to bring Organa Brands products to Florida
Florida is very quickly establishing itself as a significant cannabis market leader in the U.S with over 180,000 registered medical marijuana patients.
This number has tripled since 2017.
Trulieve is currently responsible for distributing and producing 60% - 80% of cannabis in the state, according to the Floirda Department of Health.
This partnership will allow Trulieve to exclusively offer SLANG’s premium portfolio products at their dispensaries.
SLANG plans to introduce the O.penVAPE, Bakked, District Edibles and Magic Buzz product lines to Florida medical marijuana patients.
Just last week, Florida’s Senate passed a smokable medical marijuana bill that lifts the ban of smoking cannabis in the plant or “flower” form.
Right now in the state of Florida, patients who want to buy flower must purchase the flower sealed in a vape cup used only for a tabletop vaporizer. This bill will allow cannabis to be sold in the nug form without being sealed in the vape cups.
The bill is subject to be approved by the Supreme Court.
SLANG raised $66 million before IPO this Year
In January before going public on the Canadian Stock Exchange, SLANG raised $66 million by offering Subscription receipts.
In February 2018, SLANG completed a brokered private placement of 22 million special warrants that raised approximately $16.8 million.
Also, Canopy Growth Corp., the world’s largest marijuana and hemp producer by market cap, is backing SLANG Worldwide through a complex financial arrangement.
Canopy and SLANG have this complex agreement so it can comply with the Toronto Stock Exchange’s policy of de-listing cannabis businesses that conduct business in locations where the drug is federally illegal, like the U.S.
This arrangement allows Canopy to acquired up to 20% of equity in SLANG if the U.S legalizes cannabis nation-wide.
We believe SLANG has tremendous growth potential and Chasingmarkets.com has purchased shares of SLANG in the open market.
F.Y.I.
While the Australian cannabis market has made great strides over the last two years, it is still in an embryonic stage of development. Despite arriving moderately late in the game, the country is well positioned to become a major global player in the export market—which is expected to be worth $55 billion by 2025—on the back of its’ already thriving agricultural sector.
Although Australia only legalised marijuana exports in 2018, it already has plenty of experience in the agri-phrama business and is responsible for approximately 50 percent of the world’s legal poppy supply. These poppies eventually are processed by pharmaceutical companies into medical grade opiates such as codeine and morphine.
However, the country still has several hurdles to overcome if it wants to fulfill its ambition of dominating the global cannabis export market, such as heavy financing requirements, a repressive and convoluted licensing system, and a medical profession that is reluctant to prescribe the product.
Data from the Ministry of Health shows that despite the legalisation of medicinal marijuana in 2017, the number of patients being prescribed cannabis is still lagging behind other countries.
Additionally, much of the market demand is currently centered around North America and Europe, leaving Australian suppliers with a geographical freight disadvantage. To counter this, many companies are positioning themselves as premium product producers, similar to the country’s thriving agricultural industry.
The nascent Asian market is also beginning to gradually expand, following the 2018 legalisation of medical marijuana in Thailand and South Korea. In recent years countries such as China, Japan, and Indonesia have also become some of Australia’s biggest trading partners.
Considering Australia’s close geographic proximity to the region, it seems likely that local suppliers will be well-positioned to capitalise on Asia’s growing cannabis market as it begins to reach maturation.
Australian cannabis stocks started last year on a high—following the announcement that government would be legalising marijuana exports—however, most shares spent the following twelves months in freefall. This was partly the result of an ongoing downturn that affected much of the industry, as some traders became nervous in response to growing market volatility.
This has left many pot stocks highly undervalued, which is good news for long position investors who are looking to buy into the sector, or consolidate their investment—while incurring minimal costs—if they are willing to ride out the market fluctuations.
F.Y.I.
OrganiGram Holdings
OrganiGram Holdings is a Canadian licensed marijuana producer that targets the country's medical and recreational marijuana markets. The latter market is where the real excitement for OrganiGram is these days. The company has supply agreements with provincial crown corporations (government-owned companies in Canada) or retail partners for recreational marijuana in nine of Canada's 10 provinces. (10 of 10).
Although Canada is where OrganiGram currently makes its money, the company isn't limiting itself to its home country. OrganiGram teamed up with Alpha-Cannabis to go after the big medical marijuana opportunity in Germany, which claims the largest legal marijuana market outside North America. The company also made a significant investment in Serbian hemp producer Eviana.
OrganiGram doesn't rank among the biggest Canadian marijuana growers in terms of capacity. However, the stock looks more attractive than most of its peers in several ways. For one thing, unlike many Canadian marijuana growers, OrganiGram has consistently posted profits in recent quarters. The company also has one of the lowest production costs in the industry -- a key reason why OrganiGram has been profitable while many of its rivals weren't.
And while OrganiGram's price-to-earnings (P/E) ratio is high compared to stocks in other industries, the stock is a bargain relative to most marijuana stocks. The stock's valuation looks especially appealing when you compare how much annual production capacity per dollar invested you get with OrganiGram versus that of larger Canadian marijuana growers.
A Long Article, But it shows The Larger Market awaiting OGI in Europe...https://www.consultancy.eu/news/2307/europe-to-become-the-worlds-largest-legal-cannabis-market
F.Y.I. 018 was a trailblazing year for the cannabis industry. The Australian government gave the legislative green light to marijuana exports, which many experts saw as a move to dominate the international market.
A study conducted by New Frontier Data also estimated that the potential size of Australia’s nascent local cannabis market may exceed $5 billion annually. According to the report, black market sales are worth at least $4.5 billion per year, and when combined with the medicinal use the total value could go as high as $6.3 billion.
Last year also saw the continued rise of the medical marijuana movement worldwide, with South Korea, Thailand, New Zealand, and the UK all voting in favour of legalisation. Meanwhile, Canada became the second country in the world to completely legalise the drug.
However, despite these promising signs, it may still be some time before cannabis is fully legalised in Australia, as local politicians continue to lag behind their more progressive overseas counterparts.
The Medicinal Market Continues to Grow
While medical marijuana is legal in Australia, successfully accessing it is often a challenging task, which sees patients facing prohibitively high costs, uninformed doctors and long waiting periods for approval.
As of September, there were just over 1000 medical cannabis patients registered in Australia, which is a significantly lower uptake when compared to other countries. While this may seem discouraging, there are signs that medical marijuana is beginning to gain traction.
The Therapeutic Goods Administration (TGA) has already approved cannabis as a treatment for any medical condition—within prescription guidelines—significantly increasing Australia’s potential market size.
RELATED POST
2151Governor of New York Presents Plan to Legalize Recreational Marijuana
According to the CEO of MedReleaf Australia, Russell Harding, Australian doctors are also becoming more aware of medical marijuana, and are “more prepared to assist patients to gain access to this new therapy.”
Most significantly, new data published by the TGA demonstrated that the country’s recently streamlined application process has also finally started to produce positive results. November alone saw 568 approvals for medicinal marijuana—representing a 42% increase on the preceding month—which pushed patient numbers to 2,000, more than double the previously recorded amount.
The managing director of the Little Green Pharma, Fleta Solomon, believes that Australia’s medical cannabis industry will turn a corner in 2019.
“The No. 1 factor, in addition to more and more patients requesting cannabinoid treatment from their doctor, is that general practitioners can now prescribe much more easily and don’t need a specialist to support patient applications,” Fleta said.
Legalisation to Become Mainstream in 2019
At the same time, a number of politicians have begun to push for the legalisation of recreational cannabis, with the Greens leader Richard Di Natale arguing that the government’s current prohibition-based approach has failed disastrously.
RELATED POST
HR 420, a Bill to Deschedule Cannabis, Could Pass This Year
“Quite simply, the war on drugs is really a war on people. We need to get real about cannabis use in Australia.”
– Green Leader, Richard Di Natale
The issue was later raised by Senator David Leyonhjelm, who introduced a bill to Parliament that was intended to amend multiple Commonwealth acts which categorise cannabis as a controlled substance.
Labor backbencher Michael Pettersson also attempted to pass legislation in September that would have legalised marijuana for personal use in the ACT.
“Thirty-five percent of Australians have tried cannabis and 10 percent of Australians have tried it in the past 12 months,” Pettersson said.
“This is not a rare substance, this is incredibly commonplace across Australia and I think it’s time we change our drug laws.”
Unfortunately, the majority of government officials have still proven to be largely apathetic when it comes to discussing the legalisation recreational cannabis. The issue is also rarely a part of the broader public policy discussion, leaving few avenues for legislative advancement.
Although the campaign to legalise recreational cannabis in Australia failed to gain significant momentum last year, things may be about to change in 2019. A groundbreaking 2016 study conducted by the Australian National University (ANU) found that there was a rapid shift in the public perception of cannabis legalisation between 2013 and 2016.
The ANU study found that by 2016 the number of Australians who supported legalisation had already skyrocketed to 43%. Only 32% of the population were found to be in opposition, while 22% remained undecided.
The study’s authors predicted that Australia may see a majority shift in favour of legalisation as early as 2019. As public sentiment continues to swing in favour of legalising recreational cannabis, Australian politicians may be forced to consider the question in earnest.
Looking Ahead
Cannabis stocks appear to be ramping up for 2019, with the ASX now listing over 20 companies, several of which are already generating significant buzz in the Canadian and US markets. Similarly, the high cost of medical marijuana is also expected to decline this year, thanks to the growing number of cannabis producers setting up shop in Australia.
Until now, patients have been forced to rely entirely on overseas imports, which has left many Australians unable to afford the prohibitively high price-tag.
However, the CEO of PUF Ventures Australia, Michael Horsfall, believes this will change in 2019, as local supplies continue to increase.
“The key now is to apply further pressure on global pricing—achieved by driving the right economies of scale with producers, suppliers, and manufacturers. This will get the product to a price where it is affordable as a real option to the people who need it most—the patients.”
“What is more exciting to the Australian market is that two-thirds of the global population sits just offshore in Asia.”
– Michael Horsfall, PUF Ventures
“Momentum is building through Asia, and Australian companies have the right conditions, governance, reputation, and relationships to take advantage,” he said.
Although Australia’s cannabis industry may still be in an embryonic stage of development, investors can expect the market to continue expanding in 2019.
Increased access to medical marijuana will only serve to drive further demand, while broader international trends will lead to rapid industry growth. An expected change in government may also provide new opportunities to lobby for recreational legalisation.
Better buckle up, it’s going to be an extremely green year.
Trulieve Announces a Licensing Deal with Sunshine Cannabis to Create Eponymous Brand
BY CANADA NEWSWIRE — 48 MINUTES AGO
The collaboration brings a series of exclusive strains developed and preserved by the Florida-based cannabis company
TALLAHASSEE, FL, Jan. 10, 2019 /CNW/ - Trulieve Cannabis Corp. (CSE:TRUL), Florida's premier medical cannabis company, has signed a deal with Sunshine Cannabis to bring a series of products utilizing exclusive genetics to Florida's growing patient population. The Florida-based cannabis company will be collaborating with Trulieve to develop a full suite of premium products based upon proprietary strains developed and preserved by the organization.
FYI....
December 18, 2018 14:27 ET | Source: Canopy Rivers Inc.
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRES
TORONTO, Dec. 18, 2018 (GLOBE NEWSWIRE) -- Canopy Rivers Inc. (“Canopy Rivers” or the “Company”) (TSXV: RIV) today provided an update that an entity controlled by its portfolio company TerrAscend Corp. (“TerrAscend”) (CSE: TER; OTCQX: TRSSF), NETA NJ LLC (“NETA”), has been selected by the State of New Jersey Department of Health to apply for final approval to operate a vertically integrated Alternative Treatment Center (ATC), which would permit it to cultivate, process and sell medical cannabis in the state.
The State of New Jersey received a total of 146 applications to cultivate, process and sell medical cannabis. NETA was the highest scoring applicant in the most densely populated region in the state, and one of only six successful applicants statewide. Each application was scored by a six-member selection committee selected to provide expertise across a wide range of areas, including plant sciences, diversity and inclusion, and all regulatory aspects of the medicinal marijuana program. These successful applicants were chosen as part of the state’s plan to expand the medicinal marijuana program to include an increased number of eligible conditions for the growing patient population, which now has almost 40,000 participating patients.
In October, Canopy Rivers agreed to a restructuring of its investment in TerrAscend in order to accommodate TerrAscend’s strategic pursuits, while also maintaining strict compliance with industry regulations and the policies of the various securities exchanges which it is subject to. Pursuant to the restructuring, Canopy Rivers Corporation exchanged its common shares for exchangeable shares in the capital of TerrAscend that will only become convertible into common shares following changes in U.S. federal laws regarding the cultivation, distribution or possession of cannabis, the compliance of TerrAscend with such laws and the approval of the various securities exchanges that Canopy Rivers is subject to. The exchangeable shares are not listed on a recognized stock exchange and, until converted into common shares, the holders thereof will not be entitled to voting rights, dividends or other rights upon dissolution of TerrAscend. Given that the growth, cultivation, production and sale of cannabis is not currently federally legal in the US and there can be no assurances that it will be legalized, Canopy Rivers expects to record a write down on its investment in TerrAscend in the third quarter related to the reorganization, unless circumstances change.
Canopy Rivers does not engage in any U.S. cannabis-related activities as defined in Canadian Securities Administrators Staff Notice 51-532.
The News shows A Promising Future for our stock....A reported one-third of Australians over the age of 22 have used cannabis. That's roughly 5.8 million people. In fact, it's estimated that around 750,000 Australians smoke marijuana on a weekly basis.
Growing acceptance has driven both the ACT and Australia's Northern Territory to decriminalize marijuana use in the last decade.
And in February 2016, Australia's federal parliament legalized medical marijuana usage across the entire country.
The move was reminiscent of Canada's path to legalization – Canada first legalized medical use, and recreational legislation followed.
Australia's acceptance of medical marijuana opened the door to the immense economic opportunities available in a regulated marijuana industry.
In January 2018, Australia's health minister, Greg Hunt, stated that he hoped the nation would become the world's leading exporter of medical cannabis following legalization.
And the robust numbers currently generated by the nation's domestic medical industry make it possible.
Australia's medical marijuana market, currently valued at $17.7 million, is expected to generate $1.2 billion in the next five years.
In fact, it could be worth as much $3 billion by 2028.
But that pales in comparison to the potential value of the nation's recreational marijuana industry.
According to recent estimates, Australia's recreational industry could be worth as much as $8.8 billion within a decade of legalization.
And these numbers could be short of the mark. Australia is currently one of the world's wealthiest nations, giving consumers the kind of discretionary income that's often absent in much of the world.
This wealth is likely to translate into lavish spending in any cannabis market that emerges in Australia.
Thanks to Canada's astonishing success and the significant economic opportunities that come with legalization, it's likely that Australia will follow in the Great White North's footsteps and approve recreational usage in the near future.
F.Y.I. AUSCANN GROUP HOLDINGS LTD (ASX: AC8) – Its proprietary solid hard-shell capsules for treatment of chronic pain and manufacture release of its first medicinal cannabis product line has been announced by the company and that it has appointed TGA licensed PCI Pharma. They are scheduled to release in H1 2019. The company has cash and cash equivalents as at 30 September 2018 of $43.732 million and with no debt facility which signifies a healthy balance sheet. The company address the medical needs of doctors and their patients develop and produce cannabinoid pharmaceuticals. Following A$35m placement the company is well funded into CY2019. The stock traded at $0.705 as at December 3, 2018 which is near its 52-week low and has seen a performance change of -11.39% in one year.
F.Y.I. Smaller producers top some provincial sales in first month of legal pot
Nova Scotia and Prince Edward Island are the first two provinces that have reported monthly sales figures to producers, according to documents provided to BNN Bloomberg. The figures show that Moncton, N.B.-based Organigram took the top spot with a 24 per cent share of the marijuana market in both provinces. Other smaller players among the top five producers by sales include Zenabis, Cronos Group’s Peace Naturals and Canada’s Island Garden.
F.Y.I. The Australian Capital Territory is poised to legalize cannabis for recreational use after a bill gained widespread support from the region’s legislators.
The ACT is a federal district containing the Australian capital of Canberra, similar to the District of Columbia in the US. It has a population of 420,000 and it houses all the country’s leading politicians.
Labour Party backbencher Michael Pettersson has launched a bill called the Drugs of Dependence (Personal Cannabis Use) Amendment Bill 2018. Its aim is to make it legal for residents in the territory to possess up to 50 grams of cannabis or four plants for personal use.
A consultation period began in September and finished on Thursday last week. Pettersson will now introduce the bill to the Assembly tomorrow and he claims he has widespread support.
There are 25 votes up for grabs in the ACT so he needs to win a majority of 13 for the bill to pass. The Labour Party said it is united behind the bill, which would give it 12 votes. It needs just one more to succeed and Green Party parliamentarian Shane Rattenbury is expected to cast the deciding vote in favour of the bill.
He said he might suggest some amendments before agreeing, but he declared he supports it as a matter of principle. Cannabis is already legal for medicinal purposes in Australia, and the Greens are in favour of legalizing marijuana for personal use in order to keep people out of the criminal justice system.
The bill will be tabled tomorrow and legislators will have until February to mull it over. It’s then expected to be signed into law, allowing people to legally smoke weed in the political heartland of Australia. That would be seen as a giant stride towards the entire country following in Canada’s footsteps and legalizing cannabis for recreational use, opening up a huge potential market.
Pettersson said he has received 80 submissions from people or groups about his bill and that 75 are in favour of legalizing cannabis. The local press is now reporting that it’s likely the law will be passed due to the widespread support it has received. ACT chief minister Andrew Barr reiterated his support for the bill and said he believes Australia will eventually change its federal law to allow marijuana for personal use across the country.
F.Y.I. A money maker in a few quarters. ?????? https://equity.guru/2018/11/30/tinley-tny-c-partners-new-licensed-manufacturer-expand-production/
FYI: This segment of an article yesterday says it all.....We continue to view OrganiGram Holdings Inc (OTCMKTS:OGRMF) as having a basic claim to next-level respect in the evolution of the cannabis patch as a competitive market segment given its spot in the pecking order, its growth rate, its move to start climbing the ladder as far as strategic investments, and its expanding geographic diversification