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Cannabis Briefs for November 29, 2022

November 29, 2022

•Cannabis sales across Canada were up marginally in September, according to new data from Statistics Canada. In September, C$389.9 million ($289m) of cannabis was sold across Canada, up 12.2% year-over-year. In top-ranking province Ontario sales were up 1.1% month-over-month and 15% year-over-year to reach C$155.5 million. Alberta saw a similar gain to reach C$68.6 million, British Columbia rose even more slightly to C$59.4 million, and Quebec dropped incrementally to C$49.7 million. Through the first nine months of this year, Canadians have purchased C$3.3 billion ($2.4b) worth of cannabis.

•Nevada regulators will hold lottery drawings for cannabis consumption lounge licenses tomorrow. The drawings will select 20 independent cannabis consumption lounge licensees, 10 of which are reserved for social equity applicants. The state’s Cannabis Compliance Board, which is administering the lottery, expects the first of these lounges to be able to open during the first half of next year.

•Toronto-based The Green Organic Dutchman saw sales jump 55% year-on-year in the nine months through September, to C$32 million ($24m). That included a 36% increase in the third quarter, driven by the launch of new premium flower strains like Cherry Mints and Maple Kush, along with new pre-roll SKUs and the company’s Highly Dutch Organic flower continuing to gain traction. Additionally, the company has completed its merger with Vancouver-based cannabis player BZAM. “The merger is expected to more than double net revenue relative to TGOD on a standalone basis while substantially reducing duplicate costs,” said CEO Matt Milich.

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