Busy week ahead as more than a dozen cannabis companies set to report quarterly results 

It’s primed to be a busy week for Canadian-based cannabis companies with Cronos Group, Tilray, Canopy Growth and Aurora Cannabis on deck to report their latest quarterly results. Bloomberg News reports that expectations are low for the four largest Canadian pot companies by market value which are all facing investor criticism after struggling to reach profitability. Analysts expect some cannabis companies to report a decline in industrywide sales to Canada’s provincial wholesalers while investors will be focused on metrics such as outsized cash burn and the rollout of next-generation products like vapes and edibles next year.

Aleafia says it grew outdoor cannabis at 10 cents per gram

Growing legal pot at just a dime per gram is now a reality after Aleafia Health became the first cannabis producer to release details of this year’s outdoor harvest. Toronto-based Aleafia said on Monday it grew 10,300 kilograms of outdoor-grown cannabis at its 26-acre Port Perry, Ont. facility this year, with cannabinoid levels near identical to similar strains grown indoors. The company said the total all-in cash cost to harvest the outdoor grow, which includes facility capital costs, came to $0.10 per gram, one of the lowest figures in the industry. The emergence of cheaper legal biomass could also flood the industry with inexpensive product that may place margin pressure on companies.

Canadian Cannabis Awards held on Friday, 32 different categories awarded  

The Canadian Cannabis Awards wrapped up on Friday following a black-tie gala at Toronto’s Fairmont Royal York hotel organized by Lift & Co. The sixth-annual awards banquet, which awarded 32 different categories including Top Budtender and Top Indica Strain, drew hundreds of people from across Canada’s cannabis industry. Despite owning and operating just one retail store in Ottawa, Superette won several award categories, including Startup of the Year and the Womxn In Weed—Trailblazer award to CEO Mimi Lam. 7Acres, owned by Supreme Cannabis, won Top Brand for the second consecutive year while TREC Brands won Employer of the Year.

Native American tribe opens a rarity in Las Vegas: the only cannabis consumption lounge in town   

The Las Vegas Paiute, recognized as a sovereign nation in the 1970s, is emerging as a major player in the Nevada cannabis industry. The Native American tribe opened Nevada’s first cannabis tasting room in October, working around a loophole that allows them to be exempt from a state law restricting marijuana consumption to private residences until July 2021. The lounge, which The Guardian describes as “a glass-walled, big box structure that half resembles a car dealership” will have a near-two year time advantage against overtures from other companies such as Planet 13 and MedMen. The Paiute tribe also competes with Las Vegas resorts which help lobby for legislation that banned lounges from operating within 1,000 feet of any casino.

Some Aurora Cannabis shareholders withdraw support for five directors during AGM   

Aurora Cannabis announced on Monday the results from its annual general meeting the company held in Edmonton on Nov. 8. The cannabis producer said its slate of directors nominated were approved by a majority of votes cast during the meeting. About 43 per cent of Aurora’s shareholders were present in person and by proxy at the meeting. However, five members of the board - Jason Dyck, Adam Szweras, executive chairman Michael Singer, Steve Dobler and CEO Terry Booth – saw between 15 per cent to 24 per cent of votes withheld by shareholders, according to the company. The rest of the board - Ronald Funk, Shan Atkins and Norma Beauchamp – saw shareholder support above 90 per cent.

DAILY BUZZ

"If Trump bans [e-cigarette vape] flavors, there's a good chance he loses Wisconsin, Michigan, Pennsylvania, Ohio, Florida."
— Ryan Hallisey, a vape store owner from Orange County, N.Y., who recently protested the White House’s proposed new rules on vaping in response to an alarming rise in teenage e-cigarette use and health concerns, according to NBC News. 

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