Cannabis Briefs for April 13, 2021April 13, 2021
•California-based Pamos Beverage Company has introduced a new line of non-alcoholic cannabis spirits. Infused with THC, CBD, and plant terpenes, Pamos is launching in Los Angeles in 750-ml. bottles, each of which contain 16 servings. The brand initially includes a Low Dose expression ($65) containing 6mg of THC and 2mg of CBD a serving, as well as a Micro Dose offering ($60), which contains 2mg of THC and 2mg of CBD. Pamos says its onset time is around 10 to 15 minutes, comparable to a traditional cocktail.
•Jay-Z’s cannabis brand Monogram is receiving a new ad campaign that reimagines the iconic photos of renowned mid-century American photographer Slim Aarons through a contemporary lens. Shot by photographer Hype Williams at the Frank Sinatra House in Palm Springs, the Monogram campaign has recreated and recast a series of Aarons’ most notable poolside vignettes in a bid to update the ideas of leisure and luxury for a new generation. The billboard and wallscape campaign is launching now across major U.S. markets. Monogram is part of The Parent Company portfolio.
•Canadian cannabis producer Aphria reported results for the quarter ended February 28, in which net revenue hit C$153.6 million ($122.3m), down slightly from the previous quarter’s C$160.5 million ($127.8m). With several beverage acquisitions, including Sweetwater Brewing in Georgia, Aphria’s revenue streams continue to diversify—in the quarter in question, the company derived C$51.7 million ($41.2m) from cannabis sales, C$14.8 million ($11.8m) from beverage alcohol, and C$87 million ($69.3 ) from distribution operations. The company logged a net loss of C$360 million ($286.6m) for the quarter. Aphria is in the process of merging with Tilray, another Canadian operator.
•Uber is considering cannabis delivery pending federal legalization, according to comments CEO Dara Khosrowshahi made to CNBC. “When the road is clear for cannabis, when federal laws come into play, we’re absolutely going to take a look at it,” he said. “We see so much opportunity out there.” Uber recently acquired drinks delivery service Drizly for more than $1 billion.
•Chicago-based Green Thumb Industries has won financial incentives to build a $50 million cannabis cultivation and manufacturing facility in upstate New York. Green Thumb already holds one of the state’s ten medical cannabis cultivation licenses, giving it a leg up as numerous companies begin preparations for New York’s recreational market to come online. The location in Orange County is approximately 40 acres and is expected to employ 125 full-time staff.
•Regulatory issues continue to be top of mind as cannabis emerges from its long period of prohibition. On 4/20 at 12pm Pacific, the Napa Valley Cannabis Association will hold an Instagram Live session with Nicole Elliott, senior cannabis advisor to California governor Gavin Newsom, to delve into statewide cannabis policy initiatives in the Golden State.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.
Tagged : Aphria, cannabis, Green Thumb, Monogram, Pamos Beverage Company, Uber
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