Investor Ideas Potcasts #626, Cannabis News and Stocks on the Move; (Nasdaq: HITI) (TSXV: HITI) (TSX: TBP) (Nasdaq: TLRY) (TSX: TLRY)
Delta, Kelowna, BC - March 8, 2022 (Investorideas.com Newswire) www.Investorideas.com, a global news source covering leading sectors including marijuana and hemp stocks and its potcast site release today's podcast edition of cannabis news and stocks to watch plus insight from thought leaders and experts.
Listen to the podcast:
Investor Ideas Potcasts #625, Cannabis News and Stocks on the Move; (Nasdaq: HITI) (TSXV: HITI) (TSX: TBP) (Nasdaq: TLRY) (TSX: TLRY)
Today's podcast overview/transcript:
Good afternoon and welcome to another episode of Investorideas.com "Potcast" featuring cannabis news, stocks to watch as well as insights from thought leaders and experts.
In today's podcast we look at a few public company announcements as well as industry related news.
In a recent CTV news article, starting today, Alberta has allowed private retailers to begin selling cannabis online, instead of having to go through the Alberta, Gaming, Liquor and Cannabis Commission (AGLC).
Private retailers will still need to apply for accreditation through the AGLC, use an age verification program and undergo a compliance check in order to sell and deliver cannabis products.
While the province has more than 750 cannabis stores, only five companies have received approval from the AGLC - permitting 74 locations to ship and sell online.
"There's several major players that are saying they're not going to make tomorrow's deadline," said John Pracejus, a University of Alberta professor and the academic director for the Centre for Cities and Communities.
"Alberta is requiring some things that other provinces that have moved to this model have not," he added. "The age verification programs are somewhat more stringent than other provinces."
Some independent retailers suggest online sales will not be a viable option, given some of the AGLC requirements.
"You're going to have to hire a delivery driver so that means an added wage, potentially gas, vehicle insurance, commercial liability," said Joshua Vera, owner of Elevate Cannabis.
"By the time you make your delivery, there's really no margin to be made and it's just not feasible," he added. "It's no favor to independent retailers."
The AGLC says it is exploring the option for third-party delivery companies like Uber Eats or Skip the Dishes to be allowed to offer cannabis. Third-party delivery companies started offering alcohol in 2020.
High Tide Inc. (Nasdaq: HITI) (TSXV: HITI), a leading retail-focused cannabis company with bricks-and-mortar as well as global e-commerce assets, announced today that it has launched its cannabis Delivery on Demand program at select Canna Cabana locations in Alberta, as permitted by newly-implemented regulations which allow private sector cannabis retailers to offer delivery and e-commerce services as of today. Through the Company's Delivery on Demand program, customers will be guaranteed delivery within two hours of placing their order, or in any hourly time-slot chosen by the customer between 12:00pm and 8:00pm outside of the two hour window. The Company intends to further expand delivery services across its Alberta store network in the coming weeks.
"In allowing private sector-led cannabis e-commerce and home delivery, Alberta has shown its commitment to helping regulated cannabis retailers effectively compete against and drive out illicit market operators. By launching Delivery on Demand at Canna Cabana locations in Alberta, we can now offer our Cabana Club members in the province access to our unbeatable prices on cannabis and consumption accessories from the comfort of their own homes," said Raj Grover, President and Chief Executive Officer of High Tide. "Between our industry-leading prices and Delivery on Demand guarantee, we are able to offer a fantastic delivery experience for our Alberta customers, both existing and new. As the largest cannabis retailer in Alberta, the launch of delivery and e-commerce services will help to solidify our leadership position and gain further market share in the province," added Mr. Grover.
In a recent article from Cannabis Business Times, Israel, President Isaac Herzog and Justice Minister Gideon Sa'ar issued a special call March 6 to decriminalize personal use and expunge criminal records.
This will mean Israel will be decriminalizing adult-use cannabis before the U.S., its Western ally that also happens to be the largest cannabis hub in the world through a patchwork of state legalization.
While U.S. President Joe Biden has been busy putting policies in place to deny government security clearance to those who have invested in cannabis companies, the Israeli government is moving to approve regulations that would decriminalize adult-use cannabis and expunge criminal records for those with cannabis-related convictions.
Israel President Isaac Herzog and Justice Minister Gideon Sa'ar announced March 6 that those with cannabis convictions would be able to submit a request to have their records erased. In addition, individuals with pending criminal proceedings related to cannabis use or possession would be able to have their charges dropped.
The statement also said that Herzog and Sa'ar's call comes out of a desire to erase the label of criminality and the "associated stain" from anyone with prior cannabis-related convictions.
"It must be emphasized that every request will be considered on its merits, according to its particular circumstances, on an individual basis, considering the above mentioned changes of policy and law," their statement said.
The new regulations would not apply to individuals who were also charged with separate offenses alongside cannabis (except for possession of drug paraphernalia). The special call also clarifies that those who were soldiers or a minor at the time of their arrest would not be included in the expungement provisions.
Under the decriminalization components of the new regulations, minors, soldiers and police would still be charged as before, reported Haaretz, the longest running print newspaper in Israel. Otherwise, the maximum fine would be limited to 1,000 shekels, roughly US$300, for personal cannabis use.
The newspaper reported that Sa'ar is expected to sign the regulations in the coming days, and Israel's unicameral parliament, Knesset, is anticipated to approve it. Immediate implementation would follow.
Tilray Brands, Inc. (Nasdaq: TLRY) (TSX: TLRY), a leading global cannabis-lifestyle and consumer packaged goods company inspiring and empowering the worldwide community to live their very best life, today announced the launch of Good Supply Hash Bats™, the brand's unique take on infused pre-rolls. Joining Good Supply's award-winning portfolio of cannabis products, Hash Bats™ is a smooth-smoking, hash-infused pre-roll that "hits hard." Unlike a standard cannabis pre-roll, Good Supply's Hash Bats™ is the perfect blend of our consumers' favorite strains, Jean Guy and Starwalker Kush, and hash magic for the perfect 'hit'.
"We're excited to introduce our take on infused pre-rolls to the Good Supply portfolio, which continues to provide our best-selling 'good weed' to Canadian consumers with its roster of high potency products," said Michelle Morin, Brand Manager. She continued, "Since launching in Ontario in February, Hash Bats have already become one of our fastest growing products for Good Supply."
Hash Bats™ are made to provide consumers with an elevated and uncompromisable experience, maintaining the brand's high-quality pre-roll standards with an even increased potency level for that extra impact. At 0.5g, the size helps to minimize resin build & harshness so that consumers aren't compromising on the smoking experience for higher potency, with an extra hit of hash.
Good Supply is one of Canada's leading cannabis brands in flower and vapes and a long-time favorite among consumers and budtenders. Hash Bats™ hit the market this January and has SKUs in select markets, with further anticipated national release in April and May of this year. Good Supply Hash Bats™ are for the heavy hitters, a high potency option for those looking for a higher THC range coming in at 26%, a 5% higher THC content than the average non-infused pre-roll. Hash Bats™ are available in select markets across Canada in 0.5g size pre-rolls, the perfect size for that smooth hit.
For more information, visit www.goodsupplycannabis.com and follow @goodsupplycannabis. Consumers will have the opportunity to experience the hard hit of Hash Bats in several retail locations leading up to 4/20
Tetra Bio-Pharma Inc. (TSX: TBP) (OTCQB: TBPMF), a leader in cannabinoid-derived drug discovery and development announced today that Health Canada approved the amendment of a phase I study conducted in collaboration with Dr. Jutras-Aswad and the University of Montreal Hospital Research Centre (Centre de recherche du Centre hospitalier de l'Université de Montréal, ("CRCHUM"). The study will assess the safety profile of low and moderate doses of inhaled CBD and determine the cognitive, behavioral, and biological effects of CBD in adults who occasionally use cannabis. The clinical trial has been authorized by Health Canada, who also recently approved an amendment to the research protocol to increase the dosage of the study drug up to 100 mg of CBD to be assessed in the study.
Under the collaboration, Tetra will supply the synthetic cannabidiol investigational drug products and placebo and in exchange will gain access to clinical data collected in the study. The data will include safety, pharmacokinetic, and pharmacodynamic in humans exposed to Tetra's inhaled CBD product.
Guy Chamberland, CEO and Chief Regulatory Officer of Tetra, commented, "we are very pleased to pursue our collaboration with Dr. Jutras-Aswad and the CRCHUM. Dr. Jutras-Aswad is a reference in cannabinoid research, addiction, and mental health. His research meets a public heath need to better understand the impact of cannabinoid use in human health. Together with Dr. Jutras-Aswad and the CRCHUM, one of the largest biomedical and healthcare research centres in Canada, we will advance clinical research and cannabis science in Canada."
Dr. Jutras-Aswad commented, ''there is an urgent need to accelerate the research effort to provide accurate information about the effects of cannabinoids and cannabis. This study will be critical to clarify the psychological, cognitive, and biological effects of CBD at doses that are commonly used by consumers. The approval from Health Canada is a major step in achieving these goals.''
Finally, we at Truckers. In a recent article from Business Insider, while the grueling lifestyle and aging workforce has led to a national shortage of truck drivers, a Wells Fargo executive believes there's another issue exacerbating the labor crunch - marijuana testing.
According to Chris Harvey, Wells Fargo's head of equity strategy, drug screenings paired with the nature of the job - which often requires truckers to spend weeks-on-end away from home - has led many truck drivers to leave the industry. Harvey said the issue will "continue to push that price even higher," worsening a surge in transportation costs that have left consumers facing price hikes and shortages.
"It's really about drug testing," Harvey said, speaking at an industry conference on Wednesday. "We've legalized marijuana in some states but, obviously, not all ... What we've done is we're excluding a significant portion of that trucker industry."
The role of marijuana testing in employee screening has been under debate in recent years, especially as the labor shortage continues to place more power in the hands of workers. At the same time, marijuana use has become more accepted: Last year, a Gallup poll of consumer habits found that 49% of US adults have used the drug at least once. To date, 37 states have legalized the use of cannabis for medical purposes, while 18 have cleared the substance for recreational use.
But, in recent years, the trucking industry's drug policies have become even more stringent. Truck drivers are randomly drug tested on a quarterly basis, as well as in the event of an accident or traffic ticket, according to the Federal Motor Carrier Safety Administration. Drivers that test positive are immediately removed from driving commercial motor vehicles, per the FMCSA.
In 2020, the trucking industry implemented a law that required all truck drivers who had failed a drug test to be listed in a federal database so that other trucking companies would avoid hiring the drivers. Previously, drivers could theoretically move to a new company that would not have knowledge of the positive drug test.
The law has impacted nearly 110,000 truckers, about 56% of which were reported for marijuana use, according to government data from December 2021. These 60,000 drivers who tested positive for marijuana use in the past two years could help plug the shortage of about 80,000 truckers that the American Trucking Association has reported.
Since the database was launched, more than 6.4 million queries have been conducted on the site as of late December, as all employers must consult the database before they approve a new driver. As of December, more than 81,000 drivers were "prohibited" from work - over 75% of which had not begun the lengthy reassessment process required before they can return to duty.
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