Aphria shares rise on initial cannabis shipments to Germany
Shares of Canadian cannabis producer Aphria rose nearly four per cent on Wednesday after the company said it has begun shipping medical marijuana to Germany for the first time. In a release, Aphria said it completed its first shipment of EU-GMP certified dried flower to its wholly-owned German subsidiary CC Pharma. The company also said it expects to see the first sales of Aphria-branded cannabis in Germany in the second quarter of next year, while that time period should also see the completion of its cultivation facility in Neumünster, Germany. The German market has been eyed by some of Canada's major cannabis producers - including Canopy Growth and Aurora Cannabis - as a prime beachhead for medical marijuana sales across Europe.
BDSA expects $3.3B in Canadian cannabis sales this year
Data provider BDSA said it expects Canada's cannabis industry to hit $3.3 billion in sales this year, and expects it to hit $8.1 billion by 2025. The firm also said that year-to-date sales in Alberta and British Columbia reached $524 million through August. The firm also said "Cannabis 2.0" products like vapes and edibles contributed just 5 per cent of Alberta’s sales in January, quickly growing to 23 per cent in August. BDSA said it expects those Cannabis 2.0 figures to "continue to evolve and grow significantly" given those products accounting for half of all sales in some U.S. states.
Michigan to end medical licensing requirement for recreational cannabis sales
Michigan plans to stop its practice of mandating that any recreational cannabis retailers must also hold a medical marijuana business licence - a move that should dramatically open up the market and combat illicit players. M Live reports that the state's Marijuana Regulatory Agency made the decision after citing difficulties combatting unlicensed and usually untested marijuana across Michigan. "According to data provided by the Michigan State Police Marijuana Tobacco Investigation Section, 83 per cent of the seizures of illicit marijuana plants and products occur in municipalities that do not have regulated marijuana establishments," the Marijuana Regulatory Agency said. Also weighing on sales is short supply in the fledgling recreational market, which regulators aim to ease with its new licensing announcement.
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