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Cannabis Briefs for March 16, 2021

March 16, 2021

•The Coalition for Cannabis Policy, Education, and Regulation, an industry group that includes major beverage companies, inaugurated itself last week. The organization, which hopes to influence the specific policies included in cannabis legalization, includes Constellation Brands and Molson Coors, as well as Altria. Both Constellation and Altria have made multibillion dollar investments in the industry with Canopy Growth and Cronos Group, respectively, while Molson Coors is pursuing a joint venture with Hexo Corp. The coalition has a panel of experts that includes former president of the Minority Cannabis Business Association Shanita Penny and John Hudak of the Brookings Institution.

•Chicago-based Green Thumb Industries is entering the California cannabis market. The cannabis producer opened one of its Essence retail locations in Pasadena last week, with a grand opening event scheduled for March 20. With its entry into the most valuable cannabis market in the U.S., Green Thumb is now present in 11 states and operates 53 retail locations. Essence Pasadena currently stocks more than 300 products across categories including flower, pre-rolls, and edibles, among others. Green Thumb’s brands include Beboe, Dogwalkers, and Rythm.

•Canadian cannabis giant Aurora has put one of its greenhouses up for sale. Aurora invested more than $200 million in the facility, located in Medicine Hat, Alberta, although it remains incomplete and additional spending would be required to make it operational. Instead of listing a price for the 1.7 million square foot project, the company is taking offers, though it is unknown if it has received any. The move is the latest in a string of downsizing choices and greenhouse closures that Aurora has made over the past six months as it grapples with major expenses and tepid sales.

•Portland, Maine-based Shipyard Brewing Co. is launching a THC-infused version of its Pumpkinhead wheat ale. Produced in partnership with infusion company Novel Beverage and Innovative Liquid Solutions, the cannabis version of Pumpkinhead contains 5 mg of THC. It’s available now at several cannabis retailers in Maine including Theory Wellness, Seaweed, and Coastal Cannabis, among others, where it is priced around $7 apiece.

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