The DIY Queen makes her formal foray into the cannabis business
Martha Stewart is getting into the pot business. Stewart, the veteran TV personality and retail executive, is partnering with Canopy Growth, the world's biggest cannabis company, as an advisor to develop a new line of pot-related products. Smiths Falls, Ont.-based Canopy said it plans to tap Stewart's vast knowledge in consumer goods as the company develops human and animal health products infused with cannabidiol (CBD) and other cannabinoids. Terms of the advisory deal were not disclosed and Canopy Growth did not provide further details on what kind of products it plans to develop with Stewart or when they will be released. According to a recent report by Cowen & Co., the U.S. CBD market could be worth as much as US$16 billion by 2025.
Pot company execs in talks with the TMX Group to loosen restrictions on U.S. investments: Sources
Back in Oct. 2017, the TMX Group said every issuer listed on its exchanges must comply with the laws and regulations in the countries in which they operate. That means that pot companies couldn’t own any cannabis assets in the U.S. since the drug remains federally illegal in that country. But now, executives from several cannabis producers listed the TSX and TSX Venture are ramping up discussions with the TMX Group in an attempt to change restrictions against investing in the U.S. pot industry, according to sources who spoke to BNN Bloomberg. The dialogue between pot industry executives and TMX Group has intensified over the past month following passage of the U.S. Farm Bill. Meanwhile, the TMX also launched a comprehensive review of cannabis companies with investments outside of Canada.
Want David Crosby’s pot endorsement? It’s yours for US$5M
Sure, Martha Stewart is partnering with Canopy, Wiz Khalifa is working with Supreme Cannabis and the Tragically Hip have their songs immortalized with cannabis strains (with Up Cannabis); however, if you want rock legend David Crosby’s stamp of approval, it’ll cost you. The two-time Rock and Roll Hall of Famer and avid cannabis user is offering his endorsement for pot products for a cool US$5 million, according to Forbes. Crosby tells the news outlet he can use his name and popularity among baby boomers to further advance cannabis use in this demographic.
Planet 13 announces its very big pot store will soon be very, very big
Planet 13 Holding’s Las Vegas pot shop is the biggest cannabis dispensary in the world – and it’s about to get bigger. The company announced it will has begun construction on its Phase II expansion which includes a coffee shop and bistro/pizzeria on its complex. Planet 13 said its pot superstore served an average of 1,712 customers per day in first 26 days of February with customers spending about US$89.33 each. The store’s foot traffic is up 10.3 per cent compared to the prior month, the company said.
DAILY BUZZ
“We’re open to negotiations and we’re open to other valuations.”
– Peter Horvath, CEO of Green Growth Brands, on the company’s takeover bid for Aphria it formally offered last month
Cannabis Canada is BNN Bloomberg’s in-depth series exploring the stunning formaton of the entirely new – and controversial – Canadian recreational marijuana industry. Read more from the special series here and subscribe to our Cannabis Canada newsletter to have the latest marijuana news delivered directly to your inbox every day
Advertisement