Hiring amongst Canadian LPs mostly slows (CGC, ACB, APHA, HEXO, TLRY)
According to Thinknum’s job listing data, hiring trends over the past six months for Canadian LPs have mostly headed downwards, despite record adult-use sales in the reported seven months since the pandemic’s onset. Aphria, Canopy Growth, and Aurora have reduced job listings by -33.3%, -25.8%, and -6% over the past six months, respectively. Tilray has been an exception, accelerating its job listings by 66.7% over the same time period. The tepid hiring is in line with the aggressive cost cutting measures producers like Canopy Growth and Hexo has undertaken over the past twelve months due to chronic underperformance.
Georgia’s medical marijuana program begins looking for cultivators and manufacturers.
Earlier this week, the Georgia Access of Medical Cannabis Commission voted to release a Request for Proposals (RFP) for the granting of two ‘Class 1’ licenses and four ‘Class 2’ licenses for indoor cultivation and manufacturing low-THC oil products, initiating the search for operators to run the state’s medical-marijuana program. Class 1 licenses permit indoor cultivation facilities of up to 100,000 sq. ft. of space, while Class 2 licenses will be capped at 50,000 sq. ft. The legislation passed last year allows the production and sale of medical marijuana products with a THC level no higher than 5%.
The program is currently limited to 14,000 registered patients, and only six companies are eligible to receive licenses for cultivation. Qualifying medical conditions include cancer, seizure disorders, Crohn’s, intractable pain, PTSD, and legal possession by registered patients capped at 20 fluid ounces. The commission will be taking applications until December 28th, and it’s expected that regulations on licensing medical marijuana oil dispensaries will come by March 2021. While a small step for what has been a slow start for Georgia’s medical marijuana program, it’s a movement towards the eventual, if the distant, goal of opening recreational sales in what would be a market of 10.6 million.
Village Farms International’s Pure Sunfarms enters into a supply agreement with Loblaw subsidiary (VFF, LBLCF)
Village Farms is on the Hedgeye Cannabis LONG Bias list.
The Canadian greenhouse produce company, now cannabis licensed producer through its acquisition of Pure Sunfarms, announced Pure Sunfarms has entered into an agreement with Medical Cannabis by Shoppers Inc., a subsidiary of Shoppers Drug Mart Inc, under which Pure Sunfarms will supply a range of its branded, high quality, B.C.-grown cannabis products to be made available to Medical Cannabis by Shoppers customers. Shoppers is Canada's leading health, beauty, and convenience retailer and is a wholly-owned subsidiary of Loblaw Companies Limited.
Supported by specially-trained pharmacists, the Medical Cannabis by Shoppers online store is the largest national cannabis marketplace in Canada. Pure Sunfarms expects selected dried flower products to be available for sale on the Medical Cannabis by Shoppers e-commerce portal nationally as early as the beginning of December of this year and selected pre-roll, bottled oil vape products to be available in early 2021. Pure Sunfarms' 28-gram (1-ounce) package offering will be the first large-format cannabis offering listed by Medical Cannabis by Shoppers.
This partnership marks a significant expansion for Pure Sunfarms as the Canadian retail pharmacy chain has over 1,300 locations nationwide.
