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Cannabis Briefs for July 26, 2022

July 26, 2022

•Recreational cannabis sales in Canada rose slightly in May, according to data from Stats Canada. Sales for the month reached C$375.8 million ($293m), from C$373.3 million ($291m) the month prior. The lion’s share of that total came from Ontario’s contribution of C$151.6 million ($118m), followed by Alberta at C$65.4 million ($51m), British Columbia at C$55 million ($43m), and Quebec at C$50.5 million ($39m). Canada’s recreational market has been on a steady rise over the first half of 2022, growing from C$346.5 million ($270m) in January.

•Illinois regulators issued 185 cannabis retail licenses. The long awaited move follows recent judgments in lawsuits brought by disqualified applicants that finally allowed the licensing process to move forward. Illinois currently has 110 recreational dispensaries in operation so this batch of licenses will eventually more than double the amount of cannabis retail in the state once these new shops open their doors. Monthly cannabis sales in Illinois have been basically flat since March but increasing access to more of the population may provide a boost moving forward.

•Seattle-based Cycling Frog has added a new THC seltzer flavor to its beverage collection, Ruby Grapefruit, billed as tartly sweet with 5mg THC and 10mg CBD per can and retailing at $20 a six-pack. Cycling Frog rolled out its initial THC seltzer flavor, Wild Cherry, earlier this year. Cycling Frog also produces a range of gummies, softgels, tinctures, and mints.

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