Cannabis Briefs for March 9, 2021
March 9, 2021•Green Thumb Industries has partnered with California cannabis beverage brand Cann to bring its line-up to additional markets. The exclusive partnership will see GTI manufacture and distribute Cann’s products beginning in Illinois this spring, followed by additional markets where GTI operates, including New Jersey. Cann markets a line of cannabis tonics in flavors like Grapefruit Rosemary, Blood Orange Cardamom, and Lemon Lavender, which contain 2 mg of THC and 4 mg of CBD. A 6-pack of 8-ounce cans retails for $15 from Cann’s website and variety 24-packs are also available for $75. Cann launched in 2019.
•Illinois cannabis sales totaled $80.7 million in February. That’s down somewhat from January’s $88.8 million and December’s $86.8 million but still ranks as the third-highest haul in the fourteen months the market has been in operation. Consumers bought 1.72 million individual cannabis products in February, which also ranks third overall. The decline may be chiefly attributable to February only being 28 days long. Accounting for this discrepancy, daily sales in January averaged $2.86 million, while in February they averaged $2.88 million.
•Canopy Growth has launched its CBD drink line Quatreau in the U.S. The brand, which has found success in Canada since its launch last year, consists of four sparkling waters: Cucumber and Mint, Passionfruit and Guava, Ginger and Lime, and Blueberry and Acai. Each contains 20 mg of CBD a 12-ounce can. Because the U.S. launch coincides with the Age of Aquarius, Canopy has partnered with celebrity astrologist Susan Miller on a digital and social media campaign to support the launch. Quatreau is available for purchase on Canopy Growth’s online store, with individual cans priced at $4.
•Voters in more than 15 Vermont municipalities approved allowing cannabis retail in their communities as part of the state’s Town Meeting Day. Despite legalizing cannabis possession in 2018, Vermont has moved slowly on the sales front. A legal framework for commercial sales was put in place last fall that requires local approval. In the towns that gave the green light, which include Burlington, Brattleboro, and Montpelier, among others, stores may now open as soon as October 2022. Existing medical dispensaries will be able to open sooner, in May 2022.
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