Cannabis Briefs for July 23, 2019July 23, 2019
•Canopy Growth has sold one of its British Columbia cultivation facilities to fellow cannabis producer GreenTec Holdings. GreenTec, more commonly known as GTEC, will pay $13 million for Canopy’s second expansion site in Kelowna, British Columbia, which will increase GTEC’s annual production capacity by 4,000 kg, up to 18,000 kg total throughout 160,000 square feet of indoor flowering space. The facility is still under construction but is nearing completion. It will cost approximately $2 million more to finish construction.
•The West Hollywood Business License Commission has unanimously approved the opening of Lowell Café, which is on track to be the first social consumption site for cannabis in the U.S. The café will sell cannabis products as well as salads, sandwiches, and various non-alcoholic beverages, and it features an outdoor patio where smoking, vaping, and imbibing cannabis is allowed. The café is expected to open next month. The commission also approved a license for Pleasure Med LLC, which plans to open a cannabis lounge and delivery service looking ahead.
•A ballot measure allowing cannabis cultivation in Napa County is set to move forward. The initiative, filed by the Napa Valley Cannabis Association, has now been certified by the county. The county counsel has cleared the petition and ordinance for further action by the County Board of Supervisors, who will receive the certified petition at a meeting today. The Board has until the end of August to formally place the initiative on the ballot for next March.
•Hexo Corp. co-founder Adam Miron stepped down from his position as chief brand officer, effective immediately. Other members of the company’s leadership will take up Miron’s internal responsibilities, but he will retain his Hexo board seat and chairmanship of Hexo Med, the company’s Greek affiliate. Miron co-founded Hexo in 2013 with current Hexo CEO Sebastien St-Louis. Hexo and Molson Coors have formed a joint venture, Truss, to develop cannabis beverages.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning. You will also receive the Cannabis edition as part of your subscription.