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Cannabis Briefs for June 29, 2021

June 29, 2021

•Santa Rosa, California-based cannabis beverage producer CannaCraft is launching Gem + Jane, its third brand. Gem + Jane is a women-focused sparkling botanical drink lightly dosed with exotic cannabinoids. The brand is launching with a total of five flavors; three of them—Elderflower Pear, Lemon Blueberry Lavender, and Strawberry Hibiscus—contain 4mg of Delta-8 THC and 2mg of CBD for a chill experience while Yuzu Rose Raspberry and unflavored Simply Seltzer contain 4mg THCV and less than 2mg of THC, for a more energizing experience. Available exclusively at Sweet Flower dispensaries throughout greater Los Angeles, Gem + Jane retails for $6 a single 12-ounce can or $24 a 4-pack.

•Truss, the Canadian cannabis drinks joint venture between Hexo and Molson Coors, is launching a campaign to raise the profile of its wares. Truss is planning takeovers of cannabis retailers, rebranding them Local Cannabis Beverage Outlets for the promotion to mimic the acronym of Ontario’s provincial alcohol vendor. Truss also plans to place its drinks in more stores and to distribute more promotional material to businesses. Truss launched its stable of brands last fall, which include Veryvell, Little Victory, and Mollo.

•Recreational cannabis sales in Michigan topped $100 million for the second straight month in May at $104.4 million. Recreational sales had hovered around $60 million a month since last June until March of this year when they shot upward to $97.6 million. May sales were down approximately $1 million from April’s high, but that reflects sharply declining cannabis prices, not underlying demand. Consumers purchased 109,500 pounds of cannabis products in May, approximately 6,000 pounds more than they did in April.

•Vertically integrated cannabis operator The Parent Company has agreed to acquire retailer Calma in West Hollywood for $11.5 million. The 3,250 square foot dispensary is one of only 10 stores in the West Hollywood area that is licensed for both delivery and storefront retail. The Parent Company portfolio includes direct-to-consumer platform Caliva, as well as manufacturer Left Coast Ventures, and Jay-Z’s cannabis brand Monogram.

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