Cannabis Briefs for September 27, 2022September 27, 2022
•Canada’s cannabis sales reached a new record in July, rising 18% year-on-year and 4.5% sequentially to C$395 million ($287m). Ontario, Alberta, and British Columbia remain the top three provinces in sales terms, accounting for 40%, 17%, and 14% shares respectively, while Quebec represents another 13% of the Canadian market. In Ontario, sales are up about 30% compared with a year ago, boosted by more retail openings as well as more consumers joining the legal market as flower prices continue to decrease.
•Multi-state operator Revolution Cannabis has appointed Craig Johnson as CEO. Johnson was most recently CEO at BigName Commerce, running three ecommerce businesses specializing in customized paper products for businesses. Prior to that he was CEO of Harry & David, a retail and direct-to-consumer gift business. “Revolution is well positioned to capitalize on the doubling of capacity in Illinois, and the opportunities in Arkansas and Missouri to drive profitable growth,” said Johnson. “I’m excited to bring my experience in retail and direct to consumer to this nascent industry.”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.