Cannabis Briefs for April 5, 2022April 5, 2022
•Pabst Labs is opening a new manufacturing facility and distribution center to boost production of its Pabst Blue Ribbon Cannabis Infused Seltzer. First launched in October 2020, Pabst Cannabis Seltzer is the product of Pabst Labs, which is not part of Pabst Brewing Company but was founded by former employees of the company and uses the name. Pabst Labs now produces Not Your Father’s Cannabis Infused Root Beer and the St. Ides Cannabis line as well. The company plans to offer co-packing opportunities at the new facility, which it says will more than triple its capacity.
•Portland, Oregon-based cannabis operator Chalice Brands has introduced a new label, Private Stash. The new line includes more than 30 products, featuring strain-specific cartridges, flavored edibles, tinctures and distillate cartridges, as well as a variety of small batch pre-rolls. Strains featured in the Private Stash collection include Jack Herer, Maui Wowee, and Pineapple Express among others. Chalice Brands has 12 owned and four managed dispensaries in and around Portland, Oregon, operating under the Chalice Farms, Left Coast Connection, Homegrown Oregon, and Cannabliss & Co brands.
•Canopy Growth made several appointments to its executive ranks. It named Judy Hong as CFO, who has been with the company since 2019 as vice president of investor relations and previously spent more than 20 years with Goldman Sachs. Canopy also named Jonathan Di Tosto as COO. He takes over for Andrew MacCorquodale, who is moving into a strategic advisory role. Di Tosto joined the company in May 2021 as vice president, supply chain and previously spent 16 years with George Weston Limited. Canopy also created four new strategic roles with the senior leadership team which will be filled by executives from Constellation Brands, focusing on commercial sales, marketing, operations, and strategic alliances.
•New Mexico launched recreational cannabis sales Friday, and saw sales reach $2 million by that afternoon, according to state officials. New Mexico has issued 151 retail licenses so far, though not that many stores are operational yet. Though the state boasts a population of only 2.1 million, its cannabis industry stands to receive a powerful boost from tourists from neighboring Texas. While 66 licenses have been issued to Santa Fe, for instance, many dispensaries are opening in towns to the east along the Texas border like Clovis and Portales, as well as larger city Las Cruces, which is only an hour’s drive from El Paso. The state is expected to achieve $125 million in annual sales this year, according to one estimate.
•New Hampshire’s House of Representatives has passed a bill that would legalize cannabis through a state-run model. The bill has a number of issues, including a ban on all infused cannabis products like edibles and beverages, which would make it one of the most restrictive legalization laws in the country. It earned praise from legalization critic Governor Chris Sununu who recently acknowledged that reform “could be inevitable” and said that the bill in question is “the right structure.” The bill faces opposition in the state Senate, where both the majority leader and minority leader expressed reservations.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.