Sep 16, 2019
Cannabis Canada: Health Canada suspends second pot firm from growing, selling legal cannabis
Health Canada suspends Evergreen Medicinal's pot licence
B.C.-based pot firm Evergreen Medicinal has licence suspended by Health Canada
British Columbia-based cannabis producer Evergreen Medicinal Supply had its licence to grow and sell legal marijuana in Canada suspended by Health Canada. The company’s suspension is the second time a Canadian producer had its licence withdrawn by federal regulators following Bonify’s suspension earlier this year. It also comes as investors await Health Canada’s ruling on what penalty it will enforce on CannTrust after the regulator found thousands of kilograms of cannabis being grown in unlicensed rooms. A Health Canada spokesperson said inspectors conducted an unannounced inspection at Evergreen’s facility in Saanichton, B.C. in April which found issues related to the company’s production practices, record-keeping, inventory control, and adherence to licence controls.
Cresco Labs buys Tryke for US$282M to give U.S. pot operator access to lucrative Vegas market
U.S. multistate cannabis operator Cresco Labs is buying Tryke Companies for US$282 million, the company said on Monday. Tryke Companies operates primarily in Nevada and Arizona with several cultivation and dispensary assets in those U.S. states. Tryke also has licences to operate in Utah, which passed legislation to allow for medical cannabis cultivation last December. PI Financial analysts said the deal gives Cresco Labs exposure to Las Vegas’s tourism base, as well as one of the top brands in Nevada in terms of market share. The company is still waiting for its $1.1 billion deal to acquire Origin House to be green-lit by U.S. officials ahead of closing sometime this year.
Paraguay sets up process to issue cannabis licences by December
Paraguay is the latest country looking to bolster its medical cannabis industry, announcing it plans to open up the process to secure a production license to grow legal pot in the country next month. MJBizDaily reports that Paraguay’s health minister, Julio Mazzoleni, announced last week five licenses will be available and granted by December. Paraguay legalized medical cannabis in 2007 and will distribute its locally-grown pot free of charge to patients who have conditions in which there is scientific backing stating medical marijuana could assist those treatments.
Some legal CBD products spiked with synthetic drugs: AP
With CBD usage booming in the U.S., some people may be substituting cheap and dangerous street drugs instead of real legal CBD in products, according to an Associated Press investigation. One product touting CBD was found to contain synthetic marijuana, according to lab tests conducted by the AP. Spiking CBD vapes with synthetics ingredients has sent dozens of people to hospital with respiratory-related illnesses in the past year. The AP reports that these spiked products have operated with little oversight as the industry has grown so fast, regulators haven't caught up while drug enforcement agents have higher priorities.
-- The name of the hemp strain which was successfully patented by Charlotte’s Web, the first time a hemp cultivar has been approved for a patent by the United States Patent and Trademark Office.
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