Business – Page 37 – International Cannabis Business Conference

Hong Kong Taking First Steps To Crack Down On CBD

Written by Frank Schuler on August 15, 2022. Posted in Business, Policy.

Earlier this summer government officials in Hong Kong announced that they are pursuing a plan to prohibit CBD entirely. The announcement came after it was determined that as many as one-third of CBD products in Hong Kong contain trace amounts of THC.

Hong Kong is home to a number of CBD companies and not just ones that infuse CBD into such products as drinks and foods. The City’s first CBD cafe opened in 2020 and since that time a number of other similar businesses have popped up in Hong Kong.

With a CBD ban winding up, businesses in Hong Kong that have built their models on the popular cannabinoid will likely have to close. Per Bangkok Post:

An unregulated market in goods containing the cannabis-derived compound has flourished since the city’s first CBD cafe, Found, opened in July 2020. The Asian financial hub now has dozens of cafes and shops selling CBD, but a government proposal to ban the substance before the end of the year puts those enterprises in jeopardy.

“With a full ban for CBD in Hong Kong, we would be forced to probably shelve the Found brand as it exists today,” said Fiachra Mullen, chief marketing officer at Altum International Ltd, which owns Found brand as it exists today,” said Fiachra Mullen, chief marketing officer at Altum International Ltd, which owns Found and supplies CBD products to other businesses in the city.

Several peer-reviewed studies have found that CBD is effective at treating a number of conditions and is safe for human consumption. For that matter, studies have also determined the same to be true for THC.

Hong Kong should be embracing the CBD industry, not seeking to destroy it. CBD is legal in a growing list of other countries, and the CBD market is worth billions of dollars at the international level. It’s a shame that reefer madness is ruining it in Hong Kong.

cn tower toronto ontario canada-min cn tower toronto ontario canada-min

Ontario’s Cannabis Industry Model Needs A Revamp

Written by Johnny Green on August 15, 2022. Posted in Business, Policy.

On August 5th a third-party distribution center in Ontario, Canada named Domain Logistics was subjected to a cyber attack that essentially crippled the company’s ability to deliver cannabis products to licensed retailers. Domain Logistics contracts with the provincial government in Ontario where all licensed outlets are required to purchase their cannabis from the government (Ontario Cannabis Store).

Had the cyber attack occurred in most other legal cannabis markets, it would have largely been an isolated incident and the fallout from the attack would have only affected a small percentage of cannabis businesses. However, being that every retailer must go through the Ontario Cannabis Store, and by extension, its vendors, the fallout from the cyber attack on August 5th spread across the province.

A Broken Monopoly Model

It is estimated that Ontario is home to roughly 1,333 licensed retailers. Some of the licensed outlets are part of large store chains while others are small, family-owned operations consisting of only one store. Of course, there are also cannabis companies that fall somewhere in between.

Regardless of their size, as previously mentioned in this article, every single licensed retail outlet has to go through the Ontario Cannabis Store since it has a monopoly on supplying inventory. Monopoly models rarely work, especially when the entity having the monopoly is the government and the product is cannabis which has to compete with an unregulated market.

In a monopoly cannabis model, it only takes one hiccup anywhere in the supply chain to largely bring the regulated cannabis industry in that market to a grinding halt. That is on full display in Ontario where licensed retailers received no cannabis product deliveries for roughly a week. Even with deliveries finally resuming, many retailers are still experiencing bare shelves.

The Need For Further Reform

The main lesson from this latest cyber attack in Ontario is that there need to be further reforms to help ensure that the regulated industry can effectively compete with the unregulated industry. The current model will always be vulnerable to all types of issues, not just cyber attacks, and it only takes one major issue to cause enormous damage to the regulated industry.

How many consumers and patients sought out unregulated sources for cannabis due to the halt in deliveries in Ontario? We may never know the actual number, however, it’s a safe bet that it was a considerable percentage of people that would have otherwise made their purchases from regulated sources, and that is unacceptable.

Regulated outlets have a hard enough time competing with the unregulated market being that the unregulated market requires considerably less overhead to operate. After licensing fees, facility rental fees, security costs, and everything else that goes into running a legal cannabis business regulated outlets are already at a distinct disadvantage compared to unregulated sources. Ontario keeping its current model, and the hiccups and issues that come with it, all but ensure that the unregulated market in Ontario will continue to thrive, and that’s unfortunate considering that things don’t have to be that way.

Vancouver British Columbia Vancouver British Columbia

Cannabis Purchasing Habits Continue To Shift In British Columbia

Written by Frank Schuler on August 7, 2022. Posted in Business, Policy.

British Columbia has long been home to a vibrant and robust cannabis community. People have flocked to British Columbia for cannabis tourism purposes for several decades now.

International cannabis industry and policy observers have kept a close eye on Canada, and British Columbia specifically, to gauge consumer and patient cannabis purchasing habits in the post-legalization era.

Consumers and patients have more well-established, unregulated cannabis sourcing options in British Columbia than in most other parts of the world. It was unclear leading up to the launch of adult-use legalization what percentage of people making purchases may transition to making purchases via regulated outlets.

There’s new data out regarding purchases made in 2021, and it appears that the number of people making regulated purchases is increasing. Per Global News:

More British Columbians are using cannabis since legalization, but appear to be doing so in a responsible way and getting it more often from licensed retail stores, according to a recent survey.

The 2021 B.C. Cannabis Use Survey asked just under 25,000 British Columbians about their cannabis use and found 32 per cent of adults aged 19 and older reported using cannabis at least once in the past year, an increase from 28 per cent prior to legalization. Around four per cent of people said they tried cannabis for the first time since legalization in 2018.

“Like many provinces and territories, cannabis use has gradually become more prevalent in B.C., with nonsmoking methods of use increasing in popularity,” the report states.

One thing that the report seemed to spend a lot of focus on involved whether people were consuming cannabis ‘responsibly’ or not. That is obviously a subjective measurement.

Ultimately, the report seemed to measure this by a combination of things, including DUI data, reported frequency of use by consumers, and various other data points.

The data seems to back up what many of us already know – that cannabis legalization works and the doomsday predictions by prohibitionists leading up to national legalization in Canada have proven to be unfounded.

europe flags european europe flags european

Finding The Right Balance Among European Cannabis Industry Regulatory Models

Written by Johnny Green on August 7, 2022. Posted in Business, Policy.

The entire European continent seems to be trending towards legalization for the most part, and for the small group of nations that are still dragging their feet, the writing is on the wall. It’s only a matter of time before they get on the right side of history because every day that goes by is a day that other nations inch closer to beating them to the cannabis revenue punch.

Cannabis policy is not as straightforward as many seem to think. Simply stating that cannabis should be legal in general terms is one thing. Crafting national cannabis policies and regulations is a completely different matter and requires much more thought and planning, and that is just at a national level.

Just as Europe is a continent made up of many nations, so too will it be a continent made up of many different approaches to cannabis policy and regulation. Below is just a small sampling of cannabis policy facets that lawmakers and regulators need to consider when drafting measures:

Home Cultivation – plant limits, canopy size limits, public view restrictions, etc.
Commercial Cultivation – zoning, infrastructure needs, licensing
Commercial Sales – allowed or continued to be prohibited?
Imports/Exports – if yes, what regulations are involved?
Social Use – can people consume in clubs, and if so, under what conditions?

Those are just a handful of things that need to be taken into consideration, and even those have several sub-facets as well. It can be a daunting task, especially when considering that Europe is composed of dozens of countries, each with its own identity, culture, and approach to governing.

Right now there are already several different cannabis industry models in existence in Europe. Malta passed an adult use legalization measure late last year, although its model is based on home cultivation and non-profit entities from which consumers can source their cannabis.

Low-THC cannabis, or ‘cannabis light,’ has been sold all over Switzerland since 2017, and a pilot adult-use cannabis industry program for higher THC varieties is launching this summer in the country as well. Pilot programs are also in operation in Denmark, and hopefully soon, the Netherlands.

All nations need to learn from each other and collaborate to enact continental-level rules and regulations to help ensure that public safety concerns are addressed in a way that still allows the industry to reach its full potential (within reason).

Education is key, and with that in mind, we recommend that people check out a timely report from Augur Associates. The report is titled, ‘Which models for cannabis adults use regulation in Europe? – findings, objectives and proposals for legalisation.’

Augur Associates is a Paris-based consultancy agency dedicated to the sustainable and cutting-edge cannabis and hemp industry. In addition to their latest report, they have also published a number of other reports dealing with the emerging cannabis industry and shifting political landscape.

Their latest publication is a robust 271-page report in its complete version, with the additional option of downloading the summary version. Both options are free at Augur and Associates’ website (previously linked to in this article). The report is also coupled with a number of insightful recommendations from the publishers for lawmakers and regulators to consider.

All eyes are on Europe for the foreseeable future, and information of this value does not come along often, especially for free. Check out the latest report from Augur Associates because the more timely information that you know, the better suited you are to make informed decisions. It could mean the difference between you crushing it in the evolving international cannabis industry or fizzling out not long after you get started.

flag of israel flag of israel flag of israel

The End of Israeli Public Cannabis Companies?

Written by Marguerite Arnold on August 1, 2022. Posted in Business, Policy.

Before the pandemic, the Tel Aviv Stock Exchange was bubbling. Now the Tel Aviv Exchange is dropping the Cannabis Index. What gives?

In what is going to be a blow to the idea of a public cannabis company in Israel, if not beyond, the Tel Aviv Exchange has dealt another blow to the public cannabis company model. Namely, it is dropping the so-called Cannabis Index.

Just three years ago, both celebrities and public figures were being avidly recruited by Israeli cannabis companies to promote themselves to investors and raise their stock value. Much like in Canada, many Israeli companies that went public did so by merging with an existing shell company already listed on the exchange. After their debut on the exchange, at least initially, stock values soared. 18 months ago, the exchange then created its own Cannabis Index, although many doubted how useful this would be. The biggest reason for such early doubts? There were actually very few companies listed on the exchange, and as a result, it was dominated by just a few companies. In fact, the value of the exchange was mainly based on the valuation of just one company.

After soaring in value, the cannabis bubble burst, and the worth of the index has now dropped 70%, leading to the decision to delist it, as of this Thursday, August 4.

Are Public Companies the Future of The Cannabis Industry Anywhere?

While there are successful public cannabis companies, the continued roil of their worth on the public markets continues to be controversial. For example, Canopy Growth, by far the market leader both domestically and during the first expansion overseas, to Germany, was just delisted in Canada.

Part of this painful arc is the huge costs that have been required to both build certified facilities as well as gain market share. The largest companies have gotten this way by acquisition rather than organic growth.

Part of this is the growth of the industry, in all places, almost simultaneously.

In Israel, the Pandemic is also surely partly to blame.

Not all public cannabis companies are doing badly. But the reality is as the industry goes into its next iteration that public companies are not necessarily the only model, or the best one, to create a profitable company.

The Israeli exchange may be headed for extinction, but the idea of a public cannabis company is not.

For all the excitement about recreational legalization, one thing is increasingly abundantly clear. The structure of cannabis companies themselves is far from a given – and public companies may not (yet) be the best or ideal way to raise cash and conduct global operations.

While there are increasing numbers of public pot companies globally, it is also clear that there have been some gigantic missteps too.

International Cannabis Business Conference Berlin 2022 Registration International Cannabis Business Conference Berlin 2022 Registration

Recapping A Historic International Cannabis Business Conference In Berlin

Written by Johnny Green on August 1, 2022. Posted in Business, Entertainment, Policy, Science.

Whether you are a passionate cannabis enthusiast or just a passive cannabis industry observer, you are surely well aware of the fact that Germany is trending towards implementing adult-use cannabis legalization, and with it, a regulated adult-use industry. Germany may not be the first nation to pursue such a nationwide public policy and industry evolution, however, it is the most significant effort of its kind to date.

Germany is home to the fourth-largest economy on planet earth, with only the economies of the United States, China, and Japan ranking higher (as measured by GDP). Cannabis may be legal at the state level in some parts of the U.S., yet federal legalization still remains out of sight and nationwide cannabis sales are even further out of reach. China and Japan have no current plans to legalize cannabis, and for that matter, the rest of the countries on the list of ‘top ten economies on earth’ will maintain prohibition for the foreseeable future with the exception of Canada.

Canada is currently the only G-7 nation that allows regulated adult-use sales and has served as the top ‘legal cannabis economy’ on the planet since launching nationwide adult-use sales in late 2018. Once Germany launches nationwide cannabis sales, which could come as early as 2023, it will instantly take over the title of being home to the largest cannabis market in the world.

Germany’s economy is over twice the size of Canada’s economy, and the same is true when comparing the two nations’ populations. Canada only shares a physical border with one country, the United States, and many border states now have their own adult-use industries. Germany, on the other hand, shares physical borders with nine countries – the most in Europe. Barring any unforeseen policy changes, Germany will be an adult-use sales oasis in the region to a large extent, with Germany and the surrounding countries’ populations adding up to roughly a quarter billion people. The significance of legalization in Germany cannot be overstated.

Given the context of what is going on in Germany right now, Berlin served as an amazing backdrop to the International Cannabis Business Conference which took place on July 19-20th at the Hotel Estrel. It was the fifth installment of the B2B conference in Berlin, the largest of its type in Europe, and with so much excitement about what is going on right now in Germany, it proved to be an experience of a lifetime.

The attention of virtually every member of the emerging global cannabis industry has been squarely on Germany this year, and it was very evident throughout the conference that the excitement level was off the charts with so many people finally meeting in person to discuss everything. You could really sense that everyone was eager to get back to attending events in person, to learn more about what is going on in Germany and Europe, and to share what is going on in their own respective jurisdictions.

A major theme of this year’s historic conference involved cohorts representing over 85 countries traveling to the event, creating almost a ‘United Nations of cannabis’ environment. One thing that we have always strived to do at the International Cannabis Business Conference is to connect people from all over the globe, and it was exciting to see that on full display at this year’s Berlin conference on such a grand scale.

Germany, for obvious reasons, is a very exciting place for cannabis and what is going on there will have a butterfly effect on the rest of the world. However, there is plenty of other significant things happening elsewhere on the planet, and that was evident in much of the networking that occurred throughout the two-day B2B conference. Entrepreneurs, policymakers, investors, and industry service providers from nearly every corner of the world were comparing notes, striking deals, and discussing plans for the future.

It was very inspiring to see each and every time, and it was truly symbolic of the current state of the cannabis industry. The cannabis industry is going global. Historically, legal cannabis markets were entirely confined by national borders. Exports and imports have slowly ramped up in some nations over time, but make no mistake – the future of the cannabis industry will largely play out on the world stage and the cannabis plant is going to go mainstream at a global level in the coming years, which was talked about over and over at the Berlin conference by participants in discussions that often included representatives from multiple continents.

The most historic moment of the conference, and arguably the most historic moment of any cannabis conference to date, came via the day one keynote address provided by Mr. Burkhard Blienert. Mr. Blienert currently serves as Germany’s top drug policy official and is overseeing the nation’s adult-use cannabis legalization and industry implementation process. It is the first time in history that a currently-serving official at that level has ever spoken at a cannabis conference, and right in the middle of the public policy reform process no less. Hearing from Mr. Blienert in the midst of everything that is going on in Germany and Europe was truly special and an experience that attendees will no doubt cherish for years to come.

The two-day conference was packed with other world-class speakers and panels, videos of which can be found on the International Cannabis Business Conference YouTube channel. Topics for panels and presenters included, but are not limited to:

Ongoing activism and advocacy
Medical cannabis policy
Cannabis policy in Germany
Shifting cannabis policies in Europe
Evolving industry standards and regulations
Emerging markets
Supply chain and logistics
Legalization models
Cultivation
Sustainability
Consumer trends
Investing opportunities

If you have been involved in cannabis for any significant duration of time, then you know firsthand that there are certain times and places when you realize that you are in the midst of history being made. For people in attendance at the International Cannabis Business Conference B2B event in Berlin this summer, it was absolutely one of those times. The networking and learning opportunities were unmatched, and never before has such a wide array of cannabis industry representatives from so many different countries come together under one roof at the same time.

As always, it isn’t an International Cannabis Business Conference event without an amazing after-party, and this year’s after-party was particularly epic. Multi-Grammy awarding-winning reggae band Morgan Heritage kicked off their European tour at this year’s after-party event in Berlin. They were joined on stage by reggae pioneer Rocker-T, and collectively they rocked the house. The concert in such an intimate setting was the perfect way to unwind and celebrate after networking and learning. International Cannabis Business Conference founder Alex Rogers also rocked the mic on stage with the crew for a time, proving once again that the International Cannabis Business Conference works hard and plays hard.

The International Cannabis Business Conference team is already working hard on the next conference in Berlin which is currently slated to take place June 29-30, 2023. It’s quite possible that it could be the first conference in the new adult-use legalization era in Germany, which is an extremely exciting thought. With so much going on in the emerging global cannabis industry right now, particularly in Europe, the 2023 conference in Berlin is a must-attend. We look forward to seeing you there!

georg wurth dhv german cannabis association georg wurth dhv german cannabis association

Multiple National Cannabis Missions At International Cannabis Business Conference In Berlin

Written by Marguerite Arnold on July 26, 2022. Posted in Business, Entertainment, Policy, Science.

Multiple economic missions had booths at the conference last week – the beginning of an international trend

While the scale of the event rivaled any corporate conference – as did the exhibit booths – one thing stood out clearly this year at the Berlin International Cannabis Business Conference last week: The arrival of cannabis missions from international locales.

Last year, both Zimbabwe and New Zealand sent economic trade envoys to the conference. This year, both New Zealand and Thailand had their own booths, promoting their country’s cannabis exports.

It is, clearly, the beginning of a wave. The International Cannabis Business Conference has, since its beginning in 2017 been the most international, high-level business conference in the world. From now on, governments will be taking notice.

It is obviously now a relatively fast-changing world. One where the governments of three European countries (Malta, Germany, and Luxembourg) met last week to begin a series of high-level meetings on changing cannabis regulation across the region.

Unprecedented Market Access

One of the most important reasons for foreign producers to work with their governments to send trade mission presence to the International Cannabis Business Conference conference is that the access created by the International Cannabis Business Conference in Berlin is unprecedented, globally. Attended by all the major producers across Europe and in Germany, along with representatives of what are now believed to be the 187 distributors across Deutschland, the conference is an unparalleled opportunity to gain market access to the cannabis market in the world’s fourth-largest economy.

From the moment you hit the conference floor, it is very clear you have just entered a cannabis zone of unique scope and size.

Not Just Germany

Beyond individual companies and trade delegations, the conference is also packed with buyers and sellers of every kind. This ranges from brokers to resellers to pan European distributors to investors.

If you are looking to buy (or sell) any kind of wholesale cannabis product across the EU, this is the place to be.

There is no major segment of the cannabis world that is excluded

What Does the Future Hold?

The International Cannabis Business Conference in just a few short years has established itself as the premiere gathering place for the global industry. This will only continue to build. Look for a bigger conference, more attendees, official delegations and of course, increasingly senior politicians and deal makers.

Within two years, this is going to be the ground zero of a recreational market. The sky may not be the limit, but it will surely go even more stratospheric!

Help Build A Worldwide Digital Cannabis Community

Written by Johnny Green on July 20, 2022. Posted in Business.

It is no secret that it is a very exciting time for many cannabis enthusiasts and advocates all over the world. Cannabis reform continues to spread across the planet at an ever-increasing pace, and with it, the spread of the emerging legal cannabis industry.

Many cannabis-related opportunities that used to not exist are now very much a reality, especially when it comes to employment and pursuing a career in cannabis. The cannabis industry is the most exciting and fastest expanding large industry on earth, with no limit currently in sight when it comes to how large the industry will become.

Unfortunately, finding the right job in the legal cannabis industry is not as easy as some may think given how young the industry is and how fast it has expanded in such a short amount of time. Conversely, finding the right candidate is also not easy for prospective cannabis employers. Finding a strong candidate with a proven track record can be difficult.

Thankfully, there is a new app being developed that will help both candidates and prospective cannabis employers, as well as the international cannabis community in general. The CanMar Hub is a new social tech platform community app positioned as the very first of its kind, devoted to bringing the global cannabis and psychedelics community together.

The app provides access to quality features such as networking, B2B deals, a global business directory, industry events, marketplace, education, CanTank for investors, jobs, news, and so much more. The creators of the CanMar Hub app are currently looking for beta testers, which is a great opportunity.

People do not need to be coders in order to help beta test, although basic knowledge of technology is a plus. Now is the time to get in on the action, as downloading the app in the future will be done so by invite only. Beta testers that join now get 3 personal invites to send out to their peers.

You can claim your exclusive invitation to be one of the first beta testers at:

Want to learn more? Send an email to hello@canmar.io.

The Future Of Cannabis Dispensing

Written by Johnny Green on July 20, 2022. Posted in Business.

I am proud to state that I am on an ever-growing list of lucky people that get to live where cannabis is legal for both medical and adult use. Oregon, where I live, legalized cannabis for medical use in 1998 and then for adult use in 2014. I am extremely thankful that I do not have to be subjected to the inhumane public policy that is cannabis prohibition.

Additionally, I am very thankful that I can make legal purchases at regulated dispensaries. Before legal dispensaries existed in my area I had to make my purchases from the unregulated market where options are limited and customer service is basically nonexistent. Being able to walk into a fixed storefront that has set hours and choose from a buffet of cannabis products is an amazing thing that every consumer and patient should be able to legally do.

With all of that being said, there’s one major hiccup to the dispensary model that exists in most places where cannabis commerce is allowed to operate. For those that have never visited a dispensary, it can prove to be a very time-consuming ordeal, especially on a busy day.

If I had to estimate it, from the time that I pull up to a dispensary until I finalize my purchase it takes anywhere from tens of minutes all the way up to an hour. I have family in Las Vegas that go to very popular dispensaries that tourists shop at, and they have told me that their purchasing experiences take well longer than an hour from start to finish.

Part of what takes so long is waiting in line, however, at the heart of the issue is how inefficient the storage and retrieval of cannabis products is at virtually every dispensary. To be clear, I am not talking about the decision-making process. I am referring to after the decision is made regarding what to purchase, how long it takes for a budtender to compile everything, and if it’s flower having to weigh it out and package it all. If it’s a product that isn’t in the display case and the budtender needs to go to the back to a secure area to retrieve something, that just makes things take even longer.

Not only does all of that take a long time, speaking from personal experience, it is kind of awkward standing there at the register in silence waiting for what was purchased to be handed to me. It’s definitely better than living under prohibition, however, there is clearly plenty of room to boost efficiency when it comes to storing and retreiving cannabis products.

With that in mind, I am really impressed by a new invention that is debuting at the International Cannabis Business Conference this week in Berlin, Germany. The CANNASTORE is the first automated dispensing system specifically designed for cannabis products and is sure to revolutionize the cannabis dispensing process.

The hardware system in its standard design is already used in several thousand German pharmacies, however, this new version is even more impressive. The CANNASTORE was tested and developed over two years, and is capable of dispensing products within 6 to 12 seconds. That works out to 500 units in an hour. The CANNASTORE can hold up to 40,000 units before needing to be restocked.

The timing of the CANNASTORE’s debut is in itself very significant given the current political and industry context in Germany. It is no secret that Germany is going to launch an adult-use cannabis industry in the near future, and whether that is this year or next year one thing is for sure – once sales do launch a lot of people are going to be purchasing cannabis in Germany, and being able to serve up cannabis in as efficient of a way as possible is vital to helping prevent bottlenecks at the point of purchase.

The CANNASTORE is not only going to help customers’ purchasing experiences, it is also going to directly contribute to helping Germany’s cannabis industry reach its full potential and the significance of that cannot be overstated.