Cannabis Briefs for April 25, 2023
April 25, 2023•Boston, Massachusetts-based Doobie, a cannabis delivery service, has partnered with Cresco Labs. With the partnership, cannabis consumers in Massachusetts can now order Cresco Labs’ suite of brands, including Mindy’s Edibles, Good News, and High Supply, among others, through Doobie Direct for home delivery. “Doobie’s platform is built for efficiency and customer service, which aligns with our commitment to quality and innovation,” said Cresco vice president of wholesale and commercial marketing Dana Mason. Doobie’s other partnerships include leading cannabis beverage brand Cann, as well as Fernway, Cantrip, and Tilt Holdings.
•New York governor Kathy Hochul announced a campaign to encourage consumers to make their cannabis purchases at licensed retailers instead of the illicit market. The Why Buy Legal New York messaging consists of digital ads and education resources covering safe consumption practices and the benefits of buying from the regulated market. The move comes as Hochul has faced continued criticism over the slow rollout of retail licenses and the proliferation of unlicensed storefronts in New York City. The ads emphasize the community reinvestment and education funding that cannabis tax revenue contributes. There remain fewer than 10 licensed dispensaries in operation statewide.
•Calgary, Alberta-based Decibel Cannabis Company quarterly revenue expanded 41% sequentially to C$25.8 million ($19m), a record, in the three months through December. That growth was driven by expanded distribution, new infused products to the company’s premium-focused portfolio, and increased demand. Decibel said it captured 6.6% of Canada’s national market share in December, ranking No.-3 in the country by that metric. For the year, Decibel recorded net revenue of C$79.3 million ($59m) in 2022, up 51% over 2021, and an adjusted EBITDA of C$17 million ($12.6m). Decibel’s brands include Qwest, Qwest Reserve, Blendcraft, and General Admission.
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