Cannabis News – April 27, 2021
Cannabis Shops Grow 10-Fold in London, Ont.
In London Ont., the number of cannabis retail stores has gone from just four to 40 retailers in just over a year. Not all are open – some are still waiting for approvals before opening. But still, it underlines the larger trend in Ontario. Since the province opened up retail licences, the number of cannabis retail stores has grown quickly.
That’s driven a lot of the growth happening in Canada as well. Sales have doubled in Canada from $1.48 billion in 2019 to almost $3 billion.
“What you’re seeing now is tremendous growth in the number of pot shops in Ontario to the point where it’s getting really saturated,” said Toronto-based retail analyst Bruce Winder. That’s positive, in terms of fighting against illegal cannabis. “I think it’s putting a dent on illegal sales.”
https://www.cbc.ca/news/canada/london/london-ontario-cannabis-weed-retail-stores-1.5994853
Critics Want More Access to Medical Cannabis in the UK
The UK cannabis industry argues the sector is being “held back” by restrictions. Despite legalization three years ago, medical-use cannabis is not widely prescribed. Last year, doctors in the British Medical Journal (BMJ) called out the health system for withholding medical cannabis. Since administration, only 6,000 private sector prescriptions have been written, and only three by the National Health Service (NHS).
Michael Barnes, one of the latest critics, said this wouldn’t be happening if cannabis were new.
“If this was a plant we suddenly discovered, we wouldn’t have had these issues,” said Barnes, who campaigned for the legalisation of medical cannabis. “It is hangover stigma.”
https://www.ft.com/content/2e5975f6-3c84-4244-8de8-16decda35f86
Yet Another Study Calls for Better Cannabis Impairment Detection
A review study in the Canadian Medical Association Journal (CMAJ) calls for better cannabis impairment detection. This is to ensure public safety and legal rights of cannabis users.
“We would love to have that one measure that says, okay, this person is impaired, or they aren’t,” said Sarah Windle, one of the study’s lead authors. “But unfortunately, in the case of cannabis, it just isn’t that simple.”
Recent findings in a study at the University of Sydney (Australia) found that cannabis impairment lasts for a far less time than it is detectable in the system. That leads to false cannabis impairment convictions in Canada and elsewhere.
“We know that cannabis has an impact on driving,” said Windle. “It seems that varies on many factors: by (the) individual, by their level of tolerance, how often are they using, what kind of cannabis and its potency are they using.”
Four LPs That Can Benefit from US Legalization
The Motley Fool is predicting four Canadian cannabis companies stand to gain from US cannabis legalization. “As more and more states legalize (cannabis), federal legalization in the U.S. seems inevitable,” David Jagielski wrote. Those four are: Canopy Growth, Aphria and Tilray (now merged), Cronos, and Aurora Cannabis.
Several smaller Canadian cannabis companies are also poised to enter the US market, including retailers. However, it will all depend on Joe Biden’s cannabis policy.
https://www.fool.com/investing/2021/04/27/4-canadian-cannabis-companies-poised-to-profit-fro/
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