Cannabis Legalization

Group calls on provinces to ‘immediately remove barriers’ to same-day weed delivery

Delivery would make life easier on Canadians during coronavirus outbreak while helping stave off black market.

The Consumer Choice Center (CCC) wants the rest of Canada’s provinces to join Saskatchewan and Manitoba in allowing the same-day delivery of cannabis.

Self-described champions of lifestyle freedom and innovation, the group noted that weed should not be excluded from the extensive list of everyday items consumers can have brought to their front door, especially in the time of COVID-19.

“Consumers can order household products, food and alcohol for same-day delivery,” said David Clement, North American affairs manager for the CCC. “It is silly to prohibit same-day cannabis delivery from licensed retailers,” Clement said.

“With the exception of Manitoba and Saskatchewan, cannabis consumers are left waiting days for Canada Post to deliver online orders. Provincial governments should immediately remove the legal barriers for same-day delivery from licensed retailers.”

After legalization, Saskatchewan and Manitoba quickly emerged as testing grounds for cannabis delivery services, thanks to their relatively liberal retail regimes, which allow private actors to operate online stores.

The result of those policies — which differ from rules in Ontario, Quebec, B.C. and Alberta, where online cannabis stores are controlled by the province — has been a flurry of cannabis start-ups, including Super Anytime Inc., Pineapple Express Delivery Inc. and Prairie Records that offer same-day delivery to recreational cannabis consumers.

The Ontario Cannabis Store has been slowly testing same-day delivery in the province, but it is currently only available to select postal codes in the Greater Toronto Area, Hamilton, Guelph and Waterloo.

But the time has come to integrate the service countrywide, Clement argued. “Allowing for same-day delivery will help cannabis consumers during the COVID-19 outbreak, but it will also help combat the black market in the long run,” he said.

“There are a variety of illegal online options for same-day delivery. Allowing for licensed retailers to compete will make the legal market more attractive, and could help consumers switch from the black market to the legal market,” he added.

The consumer advocacy group has been critical of government regulation of cannabis in the past, slamming package regulations as being “heavy-handed” and arguing that Canadian consumers have paid the price for the government’s inability to understand the drug.

Originally published here.

A Push for Smart Regulation of CBD

Encourage competition, safety, medical facts and eradication of the black market

ARLINGTON, Va. — Flashy display cases, provocative brand names and lists of health benefits have elevated cannabidiol (CBD), a nonintoxicating compound found in cannabis, to be one of the hottest product trends today.

Whether it be for health, pets or beauty care, the use cases of CBD are becoming mainstream. It’s not uncommon to hear stories of consumers using CBD to alleviate pain in their joints, reduce anxiety and improve sleep.

Retail Revolution

The revolution is already here, and it arrived in a fury. The only guardrails came with the legalization of industrial hemp in the 2018 Farm Bill. That law created a legal distinction between a relative of cannabis without THC (tetrahydrocannabinol)—commonly known as hemp—and THC cannabis, which remains classified as marijuana and is still illegal under the Controlled Substances Act.

That law was a huge boost for farmers, entrepreneurs and consumers in the CBD space. And while it answered many questions, it sparked many more that will take time and deliberation to resolve: Who tests the actual CBD content of these products? Where are these products sourced? Which benefits and health claims are legitimate?

The U.S. Food and Drug Administration (FDA) has been running to catch up. It has so far focused on bogus health claims made by producers. Meanwhile, the FDA still maintains that food products containing CBD are illegal, despite their widespread availability in stores in practically every state and no real method of enforcement.

In May 2019, the FDA invited scientists, entrepreneurs and consumers to participate in a public hearing. Following statements and presentations from dozens of attendees, including myself, the FDA remains uncertain of what consumers and c-store owners looking to try or sell CBD products need to do to comply with the law.

The FDA is awaiting further instructions from lawmakers in Congress, who are currently floating myriad proposals to deal with cannabis. The latest would classify CBD as a health supplement, exempting it from more stringent regulation and allowing broader distribution in food and drinks.

Core Issues

Apart from that, there are still many gaps to fill. Considering many store owners are currently selling these products, it’s important that both sellers and consumers are aware of the core issues that should be addressed by the FDA and regulators.

In that May hearing, my group, the Consumer Choice Center, presented the following suggestions to the FDA if it wishes to implement smart regulation of CBD. Smart regulation would encourage competition, safety, medical facts and eradication of the black market.

The suggestions are:

  • Develop clear labeling standards, including the percentage of CBD and THC.
  • Allow free advertising and branding.
  • Allow stated health claims and benefits.
  • Embrace harm reduction by allowing CBD products in food, drinks, oils and topical products that do not require combustion.

We hope the FDA takes these points seriously and that these principles are followed by the industry as well.

What should the CBD-curious c-store professional do if they want to dive into CBD products?

  • Maintain a high standard for the products they source.
  • Choose only products with clear labeling and reasonable health claims.
  • Read the included fact sheets and materials that come with orders from reputable CBD firms.
  • Use independent testing services to check the levels of CBD and other compounds.

Entrepreneurs and consumers can work together today to ensure a competitive market with safe, beneficial and exciting innovations that will provide value to everyone.

Originally published here.

The Consumer Choice Center is the consumer advocacy group supporting lifestyle freedom, innovation, privacy, science, and consumer choice. The main policy areas we focus on are digital, mobility, lifestyle & consumer goods, and health & science.

The CCC represents consumers in over 100 countries across the globe. We closely monitor regulatory trends in Ottawa, Washington, Brussels, Geneva and other hotspots of regulation and inform and activate consumers to fight for #ConsumerChoice. Learn more at consumerchoicecenter.org

Level the cannabis ingesting field by legalizing consumption in commercial spaces

Basements and garages were once the only places you could consume cannabis in peace. But now, if the provincial consultation process advances the interests of consumers, millions of Ontario residents will be able to try some forms of the newly legal substance in licensed commercial settings, including bars, lounges and outdoor festivals. One caveat to this development is that the province will not revise the Smoke Free Ontario Act, so only ingesting cannabis products, not smoking them, will be considered for enclosed public spaces.

By significantly increasing consumer choice, moving forward with commercial consumption would be a big win for cannabis consumers in Ontario. This move would bring cannabis regulation closer to alcohol regulation, a big improvement over current “lock-and-key” cannabis rules. More importantly, this would elevate the legal market over the illegal market by giving consumers something the black market never could: a legal and controlled place to consume.

That said, the specifics of how Ontario regulates consumption are key. Edibles and beverages should be available in any restaurant, bar, or clubs currently licensed to sell alcohol, as well as in stand-alone establishments dedicated solely to cannabis consumption. Ready access to legal consuming space is what can ultimately make the legal market more attractive than the alternative. The black market has always had various forms of edible cannabis available for sale but it has never offered a controlled and legal place for users to ingest or consume it. By liberalizing where it allows cannabis consumption the Ontario government can empower the legal and regulated market at the expense of illicit trade.

There are those who say cannabis and alcohol shouldn’t be mixed, and such behaviour shouldn’t be encouraged by allowing their sale in the same places. It’s true: people shouldn’t mix cannabis and alcohol. But that doesn’t mean these products shouldn’t be made available alongside each other, subject to appropriate regulation. Provincial certification programs could train servers both in the risks of combining alcohol and cannabis and in how to avoid abuse where possible. We already trust certified servers to understand the harms of alcohol intoxication and to cut customers off when they are intoxicated. It is not unreasonable to believe they can help enforce responsible consumption of cannabis.

In addition to commercial consumption, the province is also considering a special occasions permit (SOP) to accommodate cannabis consumption at concerts and outdoor festivals, to be used either separately or alongside an alcohol SOP. This should be reasonably simple to implement. Festivals would be able to offer their adult attendees a wider range of products, thus benefiting both vendors and future customers. As to smoking or vaping cannabis, festivals would be well within their rights to allow this in roped-off or age-restricted areas or wherever they currently allow tobacco use. Edibles and beverages could be sold alongside alcohol so long as the servers have the proper certification.

How do municipalities fit in? Ontario made the huge mistake of giving local city councillors veto rights on cannabis retail within their city limits. A city or town that opts out of cannabis retail obviously doesn’t mean consumers in those cities and towns can’t buy cannabis. It just pushes them back into the illegal market, which is precisely what we want to avoid.

Ontario should not make the same mistake with consumption. If a restaurant, bar, club or lounge can meet the provincial licensing required to sell edibles and beverages, it should be free to do so without busybody city councillors intruding into their business.

Green-lighting commercial cannabis consumption is the right thing to do. But the province must get it right. Competitive and consumer-friendly policies for commercial consumption would give consumers greater choice and convenience and help put a dent in the still-prevalent black market.

Originally published here.

The Consumer Choice Center is the consumer advocacy group supporting lifestyle freedom, innovation, privacy, science, and consumer choice. The main policy areas we focus on are digital, mobility, lifestyle & consumer goods, and health & science.

The CCC represents consumers in over 100 countries across the globe. We closely monitor regulatory trends in Ottawa, Washington, Brussels, Geneva and other hotspots of regulation and inform and activate consumers to fight for #ConsumerChoice. Learn more at consumerchoicecenter.org

Cannabis Conclave in Davos im Jahr 2020

Zum zweiten Mal in der Schweiz mit genauen Legalisierungsvorstellungen

2019 gab es eine Premiere auf dem Weltwirtschaftsforum in den Schweizer Gefilden um Davos. Menschen aus dem Cannabis-Business und Experten auf dem Gebiet luden zum geselligen Stelldichein ein und besprachen in exquisiter Atmosphäre die abgeschlossenen Entwicklungen und die Zukunft der Cannabis-Branche. Auch in diesem Jahr bot sich in Davos die Gelegenheit, mit den Geschäftemachern des speziellen Sektors und mit aufgeschlossenen Personen aus der Politik ins Gespräch zu kommen, um die Weichen für eine bessere Zukunft zu stellen. Dass es endlich an der Zeit für eine zeitgemäße Anpassung in der Drogen- und Gesundheitspolitik ist, bewies die Cannabis Conclave in Davos im Jahr 2020 erneut.

Auch im Jahr 2020 brachte die Cannabis Conclave verschiedene Führungskräfte der Cannabisindustrie, einige globale Investoren sowie politische Entscheidungsträger und internationale Medien zusammen, um die weltweite Legalisierungsdebatte – sowohl für Freizeit- als auch für medizinisches Cannabis – angemessen voranzutreiben und die wachsende Legitimität und Reife der legalen Cannabisindustrie hervorzuheben. Am 23. Januar fand das besondere Event statt, das unter anderem von dem North American Affairs Manager des Consumer Choice Center David Clement initiiert wurde. Im Gespräch mit dem Medical Cannabis Network gab Clement einige Details bekannt, die ihn zu seinem Engagement führten, welches er vor, während und nach den Tagen des Weltwirtschaftsforums benötigte und benötigen wird. „Sowohl auf internationaler als auch auf nationaler Ebene ist das Hauptproblem in der Thematik, dass die Gesetzgebung nicht auf Verbraucher oder Patienten ausgerichtet ist. Legalisierungsgesetze, ob im medizinischen Bereich oder bezüglich des Freizeitgebrauches, sollten immer den Zugang und die Erschwinglichkeit in den Vordergrund stellen. Leider ist dies in vielen Bereichen nicht der Fall. Es ist an der Zeit, dass internationale Gremien erkennen, dass der Krieg gegen Drogen ein Misserfolg ist, insbesondere wenn es um Cannabis geht. Ich denke, dass alle Länder in der Lage sein sollten, Cannabisvorschriften entsprechend ihren spezifischen Bedürfnissen zu erlassen. Trotzdem möchte ich alle Regierungen nachdrücklich ermutigen, den Krieg gegen Drogen aufzugeben und Cannabis zu legalisieren.“ Weiter führt David Clement an, dass es mehr Länder geben müsste, die sich dem Beispiel Kanadas annehmen und so zu einem internationalen Umschwung führen. „Die Legitimität der Branche kann dadurch gefestigt werden, dass weitere Länder die Legalisierung von Medizinalhanf und Freizeitgebrauch übernehmen. Kanada hat trotz seiner regulatorischen Fehler einen Kurs festgelegt, auf dem andere Länder diesem Beispiel folgen können. Wir sind zuversichtlich, dass in naher Zukunft ein Wendepunkt auf internationaler Ebene ansteht, wenn immer mehr Länder die Legalisierung übernehmen.“ Dass sich zumindest peu à peu etwas bewegt, ließ Clement dabei nicht unerwähnt. „Die großen Entwicklungen für Cannabis im Jahr 2020 werden neue Rechtsordnungen sein, die eine Legalisierung umfassen. Wir wissen, dass Luxemburg und Malta derzeit prüfen, wie ihr Legalisierungsprozess tatsächlich aussehen könnte. Ein großes Thema dieser beiden Länder ist die Frage, wie viel sie von Kanada lernen können. Wir hoffen beispielsweise, dass diese beiden Länder, obwohl sie die Legalisierung befürworten, eine Überregulierung von Cannabis vermeiden werden, wie sie in Kanada stattfand.“ Was er damit genau meint, führt der Affairs Manager des Consumer Choice Center auch an. „Nur durch patienten- und verbraucherfreundliche Vorschriften kann sichergestellt werden, dass die Legalisierung erfolgreich ist und der Schwarzmarkt verdrängt wird.“ Positiv wird David Clement auch dadurch gestimmt, dass die Welt nun mittlerweile ernsthaft zuhöre, wenn es um das Thema der Cannabislegalisierung geht – dies hätte ihm die Cannabis Conclave im Jahr 2020 in Davos bewiesen.

Der dort ebenfalls anwesende Stephen Murphy von Prohibition Partners sagte dazu in einem Interview mit Benzinga, dass es mit Cannabis erst jetzt vorangehe. Es fehlten derzeit noch die großen Marken auf dem Markt, sodass noch viel Platz für Teilnehmer übrig sei, die sich in dem vielversprechenden Geschäftsfeld versuchen wollen. Er betonte zudem, dass Cannabis zahlreiche Branchen abdeckt, darunter Getränke, Lebensmittel, Gesundheitswesen, Schönheitspflege, Wellness, Bauwesen, Textilien, Ingenieurwesen, Technologie, Tierpflege, Biokraftstoffe und sogar Bettwäsche. In den vergangenen drei Jahren, seitdem man seitens Prohibition Partners die Branche beobachte, habe dennoch bereits ein erstaunliches Wachstum stattgefunden, das nun weit über die damals fünf bis sechs existierenden Märkte reichen würde. Zudem gäbe es Hunderttausende von Menschen auf der ganzen Welt, die medizinisches Cannabis konsumierten, und man habe mittlerweile signifikante Beweise dafür, dass alleine diese Tatsache eine Umsetzung von neuen Gesetzen rechtfertige, sagte er. Man könne derzeit bestimmte Einstufungen benutzen, um den Zugang zu Cannabis in den unterschiedlichsten Ländern zu beschreiben. Es wäre daher eine sehr eingeschränkte und verzerrte Denkweise, wenn Menschen in Großbritannien verzweifelt an Cannabis zu medizinischen Zwecken gelangen wollten – dies aber nicht dürften, weil es von offizieller Stelle „nicht genug Daten“ gäbe – während in Israel und Kanada Personen damit schon lange behandelt werden. Immerhin habe man mittlerweile auch einen immer stärken Druck auf die unterschiedlichen Regulierungsbehörden feststellen können, welche allesamt eigene Gesetze, Richtlinien und Anträge zum Thema Cannabis besitzen. Es gäbe daher nun auch große Möglichkeiten für die Forschung und den allgemeinen Fortschritt, die die aktuell noch bestehenden großen Wissenslücken schrumpfen lassen könnten, welche global endlich unbedingt geschlossen werden müssten.

Legalize – worldwide!

Originally published here.

The Consumer Choice Center is the consumer advocacy group supporting lifestyle freedom, innovation, privacy, science, and consumer choice. The main policy areas we focus on are digital, mobility, lifestyle & consumer goods, and health & science.

The CCC represents consumers in over 100 countries across the globe. We closely monitor regulatory trends in Ottawa, Washington, Brussels, Geneva and other hotspots of regulation and inform and activate consumers to fight for #ConsumerChoice. Learn more at consumerchoicecenter.org

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Cannabis Conclave 2020 Dubbed The ‘Rebels Of Davos’

Last week, the Cannabis Conclave took place in Davos, Switzerland. The event was dubbed by some as the “rebellious side” of Davos.

The Conclave was hosted by the Consumer Choice Center and Prohibition Partners.

“The event featured industry leaders, investors and policy makers from over 25 different countries. The purpose of the event is to continue to fuel the legalization debate internationally,” David Clement, North American Affairs Manager at Consumer Choice Center, told Benzinga.

Legalizing Cannabis

“Fueling the legalization debate, and the advancement of legalization, requires three things,” Clement said. “First, we need policy makers who are open to the idea, and who realize that the war on drugs is failing. Second, we need entrepreneurs who want to enter the legal space and meet the demand of consumers and patients.”

Clement said the industry needs investors to help catapult it forward so it can expand, and ultimately stamp out the black market.

“That is why we bring those three groups together in Davos. One headline called us the ‘Rebels of Davos,’ explaining that the Cannabis Conclave is the sharper, more daring edge of what goes on during the World Economic Forum,” Clement said.

The team is committed to returning in 2021.

Listen to Yaël Ossowski and Clement on Consumer Choice Radio discuss the Cannabis Conclave further here: https://consumerchoicecenter.org/radio/ep3/

Originally published here.

The Consumer Choice Center is the consumer advocacy group supporting lifestyle freedom, innovation, privacy, science, and consumer choice. The main policy areas we focus on are digital, mobility, lifestyle & consumer goods, and health & science.

The CCC represents consumers in over 100 countries across the globe. We closely monitor regulatory trends in Ottawa, Washington, Brussels, Geneva and other hotspots of regulation and inform and activate consumers to fight for #ConsumerChoice. Learn more at consumerchoicecenter.org

Davos cannabis conclave advances cause for legalisation

The second annual, premier cannabis industry event – the Cannabis Conclave – returned to Davos this January to bring together industry leaders and policy makers.

This year the Cannabis Conclave brought together cannabis industry executives, global investors, policy makers and international media to fuel the legalisation debate globally, both for recreational and medical cannabis, and to highlight the growing legitimacy and maturity of the legal cannabis industry.

The Consumer Choice Center organised the event that took place in Davos, Switzerland on 23 January, 2020.

Medical Cannabis Network spoke to organiser, David Clement, to find out more.

Cannabis Conclave 2020

As the world’s most influential executives, activists, and change makers descend on Davos, the conclave aimed to bring cannabis to the front and centre of the global discussion.

Clement, North American Affairs Manager with the Consumer Choice Center, said: “Both internationally and domestically, the number one issue is that legislation is not consumer or patient focussed. Legalisation bills, whether medical or recreational, should always be putting access and affordability first. Unfortunately, in many instances this is not the case. It is time for international bodies to realise that the war on drugs is a failure, especially its focus on cannabis.

“I think that countries should be able to craft cannabis regulations to suit their specifics needs. That being said, I’d strongly encourage all governments to abandon the war on drugs and to legalise cannabis.”

The high-end networking that occurs at the conclave ensures the right amount of knowledge sharing for future collaborations, and for smarter consumer focussed policy.

Clements said: “The legitimacy of the industry can be cemented by having additional countries embrace medical and recreational legalisation. Canada, despite its regulatory mistakes, has charted a course for other countries to follow their lead. We are hopeful that as more countries adopt legalisation, that a tipping point internationally is in the near future.”

Cannabis in 2020

2020 has been earmarked as a big year for cannabis – with expectations that both recreational and medicinal cannabis will become much more ‘normalised’.

Clements said: “The big developments for cannabis in 2020 will be new jurisdictions embracing legalisation. We know that Luxembourg and Malta are now currently reviewing what their legalisation process could look like. One big theme from those two countries is the question of how much they will learn from Canada? For example, it is our hope that while embracing legalisation that those two countries avoid over-regulating cannabis like Canada did.

“Having patient friendly and consumer friendly regulations is the only way to ensure that legalisati on is a success, and that the black market is stamped out.”

He added: “One big takeaway from Cannabis Conclave 2020 is that the world is now listening when it comes to cannabis legalisation.”

Originally published here.

The Consumer Choice Center is the consumer advocacy group supporting lifestyle freedom, innovation, privacy, science, and consumer choice. The main policy areas we focus on are digital, mobility, lifestyle & consumer goods, and health & science.

The CCC represents consumers in over 100 countries across the globe. We closely monitor regulatory trends in Ottawa, Washington, Brussels, Geneva and other hotspots of regulation and inform and activate consumers to fight for #ConsumerChoice. Learn more at consumerchoicecenter.org

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NOBL Completes Series A Funding Round At Davos, Altitude Investment Management Among Round Participants

Cannabis data and consulting company NOBL said Thursday it finalized its Series A fundraise at Davos and capital support of £1.25 million ($1.64 million).

Altitude Investment Management, Enexis AB and Artemis Growth Partners are some of the dominant cannabis investors who have supported the round.

“Closing our Series A with the caliber of investors we’ve brought in is indicative of our performance and reputation. We are proven to understand global markets, launch sector leading brands and operate tenacious companies that deliver month on month revenue growth” Co-Founder, Stephen Murphy, said in a statement at NOBL’s co-hosted Cannabis Conclave event in Davos.

NOBL offers a portfolio platform that contains some of the leading companies and brands in the industry, such as Atalis, European Cannabis Weeks, Prohibition Partners, NOBL Live and Cannabis Europa.

“We will continue to invest in talent and innovation while also enabling our operating companies to make smarter and more effective business decisions that will shape the future of the global cannabis industry in a meaningful and impactful way,” Murphy said.

Michael Goldberg, Partner at Altitude Investment Management, stated, “We have been collaborating with the team at NOBL over the last two years and are pleased to invest in this financing round as NOBL continues to shape the future of global cannabis through knowledge and intelligence with its superior data, insights, and networking opportunities.”

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Davos 2020 Cannabis Conclave: Uncovering The Future Of The European Market

Medical cannabis in Europe has slowly been gaining traction, but there are still a number of hurdles around regulation that has a lot of catching up to do.

Speaking at the Cannabis Conclave event in Davos, Switzerland last week, Stephen Murphy of Prohibition Partners discussed medical cannabis policy and the importance of knowledge sharing across the continent.

Murphy said big brands have yet to enter the cannabis market, so less competition exists compared to other industries. The market correction offers a window of opportunity for new brands, businesses and ideas to be generated. He stressed cannabis covers numerous industries such as beverages, food, healthcare, beauty, wellness, construction, textiles, engineering, technology, pet care, biofuel and bedding.

“When we first started monitoring and identifying what’s happening in the cannabis space, there were five to six legal markets over the three years we have seen that grow,” said Murphy, who noted the CDB market in particular is really taking off.

“There are hundreds of thousands of people using medical cannabis across the world and we have significant evidence already in place that it justifies the implementation of legislation,” he said.

“I think we can put phases in place in terms of access levels to cannabis. The implication of medical cannabis’ availability in Israel and Canada when there are patients in the UK desperately trying to get access and cannot because ‘there is not enough data’ is very skewed thinking.”

Murphy said we have started to see a lot of pressure on regulatory bodies all of which have bills, policies and motions around cannabis. There are also major opportunities in R&D and there is a huge knowledge gap that needs to be filled.

Originally published here.

The Consumer Choice Center is the consumer advocacy group supporting lifestyle freedom, innovation, privacy, science, and consumer choice. The main policy areas we focus on are digital, mobility, lifestyle & consumer goods, and health & science.

The CCC represents consumers in over 100 countries across the globe. We closely monitor regulatory trends in Ottawa, Washington, Brussels, Geneva and other hotspots of regulation and inform and activate consumers to fight for #ConsumerChoice. Learn more at consumerchoicecenter.org

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Cannabis Industry Gathers In Davos: ‘No Silver Bullet Gets Rid Of An Illegal Product’

Cannabis Industry Gathers In Davos: 'No Silver Bullet Gets Rid Of An Illegal Product'

The World Economic Forum (WEF) in Davos, Switzerland, took place this week and alongside the main event there was a cluster of small cozy cannabis gatherings hosted in the Alps.

Switzerland is one of my favorite countries for a business trip and this week I experienced the ultimate luxury which involved sipping champagne and discussing pot – and the vibe was very much on point.

Business leaders, financial heavyweights and leading politicians from all over the world gathered to discuss key issues revolving around climate change and sustainable business. It’s estimated around 119 billionaires and 53 heads of state attended this year.

The Cannabis Conclave was a huge hit the previous year – an event hosted by David Clement from the Consumer Choice Center. The event was well attended by hedge fund managers and regulators, attracting crowds from Canada, Switzerland, Europe, Israel and China. Many discussions centered around the rapidly growing cannabis industry and how conservative countries are also adopting the recreational drug.

Canada was the second country, after Uruguay, to make cannabis federally legal and as a result took a cautious and in some times instances took a limited approach that has stifled both product availability as well as distribution chains.

What Can We Learn From Canada?

One Canadian government official at Davos who asked to remain anonymous explained: “Our federal government downloaded key aspects to provincial and municipal counterparts that created a disparate and disconnected set of frameworks creating confusion and a wide variety of structures across the country.”

He explained there has been clear winners such as Alberta that has a robust retail and production framework while Ontario has continually been lambasted for a slow and painful rollout that has reduced the success of legalization in the key market in the country.

“As a result we have clear winners and losers and there is much to learn from our experience. As the frameworks and mis-steps are remedied as like any new industry there will be meaningful lessons to be learned,” he explained.

He went on to add no country charting new ground has everything right and in some ways the black market has remained as vibrant as ever whose diminishment was the core cause.

“No silver bullet gets rid of an illegal product, but only meaningful policy that suits the customer and their wallet is effective and the correct approach, market forces should be listened to,” he said.

The Hurdles Of Cannabis

Over champagne, the official added a meaningful lesson for America is to ensure there are no disconnects between states and the federal government that currently persist that has limited proper regulation across the country and in particular created technical and practical problems for the legal industry that continues to give breath and vibrancy to the illicit market.

Stephen Murphy, co-founder of NOBL, highlighted the cannabis plant remains a great unknown with only 3% of the plant meaningfully studied. He stressed there is huge potential of the remaining 97% from a health, economic and social perspective.

Originally published here.

The Consumer Choice Center is the consumer advocacy group supporting lifestyle freedom, innovation, privacy, science, and consumer choice. The main policy areas we focus on are digital, mobility, lifestyle & consumer goods, and health & science.

The CCC represents consumers in over 100 countries across the globe. We closely monitor regulatory trends in Ottawa, Washington, Brussels, Geneva and other hotspots of regulation and inform and activate consumers to fight for #ConsumerChoice. Learn more at consumerchoicecenter.org

Pot Industry Heads to Davos as Stocks Rebound: Cannabis Weekly

Tough times in the cannabis industry aren’t stopping its leaders from going to Davos.

For the second year in a row, there will be a Cannabis House in Davos, Switzerland this week alongside the schmoozing and speeches of the World Economic Forum. The 2020 offering promises to be “a little more formal and more professional” than last year’s, according to Jason Paltrowitz, executive vice president of corporate services at OTC Markets Group, one of the sponsors of the Cannabis House.

Cannabis House will feature a two-day conference focused on the themes of Davos 2020, including sustainability, climate change, social equity and impact investing.

The rout in pot stocks hasn’t dampened interest in the event, which will also include “a professional capital markets discussion,” Paltrowitz said.

The agenda has an international flavor, with speakers from Israel, Switzerland and Asia.

The goal is to get delegates from the World Economic Forum to pop in and learn about the industry, said Richard Carleton, chief executive officer of the Canadian Securities Exchange, another sponsor.

“What was particularly interesting to me last year was how many European institutional investors, everybody from family office managers, hedge funds, right up to some of the largest pension funds in the world” stopped by Cannabis House, Carleton said. “They hadn’t invested yet but were there to learn.”

Stock Rebound

Investors seemed to be in the mood to celebrate successes rather than punish failures last week.

Pot stocks ended the week significantly higher, with the BI Global Cannabis Competitive Peers Index up 15% and the Canadian-focused Horizons Marijuana Life Sciences Index ETF adding 18%, its biggest weekly increase since August 2018. The gains came despite Aphria Inc.’s earnings miss and cut to its full-year guidance, which sent its shares down 8.6% on Tuesday.

Instead, investors focused on positive results from Aphria’s smaller competitor Organigram Holdings Inc. Organigram’s U.S.-traded shares surged 45% Wednesday after it reported positive adjusted Ebitda and revenue that beat the highest analyst estimate. That sent the entire sector rallying, and even Aphria’s shares ended the week higher.

Given how fast investors have been to punish missteps in recent months, could this be a sign that the sector has bottomed out?

There are positive signs in the capital markets too, according to data from Viridian Capital Advisors. In the first two weeks of 2020, seven capital raises worth a total of $250 million were completed. Although the number of deals was lower than the 15 done in the first two weeks of 2019, the average deal size was more than 2.5 times bigger than the same period of last year, Viridian said.

Events This Week

MONDAY 1/20

  • Cannabis House hosts “a global cannabis conversation” in Davos, Switzerland alongside the World Economic Forum, through Jan. 21
  • U.S. markets closed for Martin Luther King Jr. Day

WEDNESDAY 1/22

  • CannaWest addresses regulatory issues in the industry; the event runs in Los Angeles through Jan. 24

THURSDAY 1/23

Originally published here.

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