Weekly Cannabis Industry Update – December 2024

This week in cannabis news, significant developments have unfolded, highlighting ongoing challenges and advancements within the industry in Canada. From the impacts of labor strikes to insights from academic research, these events reflect the dynamic nature of the cannabis landscape.

Labor Influences: Canada Post Strike

A notable focus has been on the Canada Post strike, which is currently affecting the access to medical cannabis for many patients across the country. The Canadian Industrial Relations Board has been directed to ensure the employees return to work if a timely agreement cannot be reached with Canada Post management, as the implications of this strike extend beyond postal services to the crucial medical supplies cannabis patients depend on.

Impact on Research: Long-term Cannabis Remediation

In British Columbia, researchers are investigating the longer-term effects of cannabis remediation practices. This study aims to understand how various remediation methods impact both the environment and the quality of cannabis produced. Such research is essential in ensuring sustainable practices in the burgeoning cannabis sector.

Financial Resilience: Credit Union Support

Additionally, a credit union in BC has stepped up to assist cannabis producers in navigating a challenging financial landscape. With many producers facing economic pressures, this support could be a lifeline for those trying to sustain their operations in a competitive market.

Driving Safety: Effects of Edibles

Researchers in Saskatchewan are delving into how cannabis edibles affect driving abilities. This research is particularly pertinent as cannabis-infused products continue to gain popularity, raising questions about their impact on road safety.

Government Initiatives: Cannabis Pardons Program

On the regulatory front, the Federal government struggled to implement a promised “ambitious” program aimed at streamlining cannabis pardons. This leaves many individuals still navigating a complicated and often frustrating pardon process.

Finance Updates: Final Bell and Galaxie Brands

In financial news, a recent court ruling rejected the equity claims made by Final Bell against BZAM’s monitor, extending the stay of proceedings. Meanwhile, Galaxie Brands has successfully exited the Companies’ Creditors Arrangement Act (CCAA) process, marking a significant milestone for the organization.

Law Enforcement: Seizures and Recoveries

Law enforcement has been active, with Health Canada facilitating a substantial cannabis seizure at an abandoned medical production site in Ontario. Additionally, the CBSA and RCMP confiscated 45 kg of cannabis intended for shipment to the Netherlands. Police in Ontario also reported recovering stolen cannabis, underscoring ongoing security challenges in the industry.

Spotlight on Canadian Cannabis Developments

In other important news, Tilray Brands, Inc. launched a festive campaign featuring a range of cannabis-infused beverages from its brands XMG and Mollo, along with JUICED XTREME Resin Infused Pre-rolls. This campaign emphasizes the growing trend of cannabis beverages as an alternative consumption method.

Looking ahead, Organigram Holdings Inc. is set to release its financial results for the fourth quarter and fiscal year 2024 on December 18, 2024. This announcement will provide insights into the company’s performance amid an evolving market.

High Tide Inc. celebrated the opening of its latest Canna Cabana store in Richmond, Ontario, marking the 189th retail location in Canada. This expansion reflects the brand’s commitment to making cannabis accessible across the country.

Consumer Trends: Best Sellers of 2024

The Ontario Cannabis Store (OCS) has shared a list of best-selling products for 2024, offering insights into consumer preferences and trends within the retail cannabis sector.

Worker Studies: Cannabis Use in the Workplace

The Institute for Work and Health has published a report analyzing cannabis use among workers before and after legalization. Understanding these use patterns is vital as both employers and employees navigate this new landscape.

Legal Matters: Aphria’s Appeal

In a legal update, the Ontario court of appeals has denied an appeal from Aphria regarding a previous judgement. The ruling requires Aphria to pay outstanding rent for commercial property it vacated in Toronto, further complicating its financial standing as a subsidiary of Tilray.

Upcoming Events: CannExpo

Mark your calendars for CannExpo, taking place in Toronto’s Queen Elizabeth Building from March 21-22, 2025. This event will showcase industry innovations and provide networking opportunities for cannabis professionals.

International Insights: Global Cannabis Developments

On an international scale, the BBC provided an inside look at the UK’s secret £10m medicinal cannabis factory, shedding light on the expanding global cannabis sector. In the U.S., Philadelphia Customs and Border Protection (CBP) continues to intercept shipments of cannabis heading to the UK, with a staggering 179 pounds seized in November alone. Furthermore, research from Harvard has highlighted that the cannabis market’s growth has outpaced existing US regulations, raising questions about regulatory adaptations required to keep up with the industry.