Cannabis Canada Daily: Cronos Group shares slide on Q1 revenue miss, earnings forecast

Aurora Cannabis got the nod once again by Luxembourg as the country’s exclusive supplier of medical cannabis. This will mark the second order …

Shares of Cronos tumble following Q1 revenue miss, declining earnings forecast

Shares of Cronos Group tumbled Thursday after the company reported its fiscal first-quarter results. Investors soured on the Toronto-based company’s stock after its CFO noted that the company’s adjusted earnings before certain items would decline over the course of 2019, but should ramp up for “accelerated growth” in 2020. Cronos reported first-quarter revenue of $6.5 million, down from the $7 million analysts were expecting. Meanwhile, the company sold 1,111 kilograms of cannabis in the quarter, up 122 per cent from the same period a year earlier. Gross margins rose to 54 per cent from 47 per cent a year ago. Cronos CEO Mike Gorenstein added revenue is expected to remain “relatively stable” in the second quarter, then accelerate in the back half of the year.

Lack of strong policy options from Ottawa shifting investor interest to U.S. pot market from Canada

Despite being the first developed country to legalize cannabis, a lack of forward-thinking government policies has meant Canada’s cannabis industry is operating with “one hand tied behind their back,” according to one Bay Street investor and an early supporter of the legal marijuana industry. Neil Selfe, chief executive of Toronto-based Infor Financial Group, told BNN Bloomberg on Thursday the Canadian government legalized cannabis without a lot of forethought to capital allocation, products, brands, and distribution. That’s resulted in Canadian firms lagging behind their U.S. counterparts in terms of both revenue and investors’ interest. Selfe added the so-called cannabis bubble is beginning to shrink as investors turn their focus to the U.S. and other markets.

Canadian support for legal cannabis, edibles market wanes amid shaky legalization rollout: Study

It turns out Canadians’ outlook for legal cannabis is less rosy that previously believed. A new study co-authored by Dalhousie University and the University of Guelph found support for recreational cannabis among Canadians has dropped since the drug was legalized last year following the shaky roll-out of legal pot and a still-robust black market. The study found half of Canadians support the legalization of recreational cannabis, down from about 69 per cent back in 2017. Meanwhile, uncertain sentiment surrounding legalization has grown to 20 per cent of the country, up from about seven per cent two years ago. Interest in cannabis-infused edible products — expected to hit store shelves later this fall — has also waned with about 36 per cent of people polled saying they plan to buy edibles when they become available on the market, down from 46 per cent in 2017.

Luxembourg re-ups with Aurora as main medical pot supplier

Aurora Cannabis got the nod once again by Luxembourg as the country’s exclusive supplier of medical cannabis. This will mark the second order Aurora has supplied for the government of Luxembourg. While the Luxembourg medical cannabis market is relatively tiny compared to say, Germany, it adds another name to the growing list of nations Aurora supplies. The deal is the most recent of many moves the Edmonton-based producer has made in international medical markets. Last month, Aurora announced it had been chosen to help supply the German market with medical cannabis. And late last year, the company formed a partnership with a Mexican pharmaceutical distributor and manufacturer to supply that country’s market.

Canopy Growth secures a big chunk of PharmHouse growing space

Canopy Growth, the biggest cannabis company in the world, still needs some more domestic supply. The Smiths Falls, Ont.-based company has tapped PharmHouse to provide 30 per cent of its Leamington, Ont.-based flowering space as part of an offtake agreement. Using Canopy Growth’s genetics, PharmHouse will grow cannabis for 18 months in its greenhouse, returning the raw flower back to Canopy Growth to be sold under its brands. The deal is expected to produce 25,000 kilograms to 45,000 kilograms of cannabis per year. Interestingly, PharmHouse is a 49 per cent-owned joint venture of Canopy Rivers, the venture capital arm of Canopy Growth. PharmHouse previously announced a cultivation agreement with TerrAscend Canada Inc. to supply products from 20 per cent of the facility’s flowering space.



— The approximate value of the purchase order delivered by Aleafia Health to an unnamed Canadian province, the biggest such delivery in the cannabis producer’s history.

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Future Prospects on Cannabis Oil Market to Grow at a CAGR of +11% by 2024: Top Companies …

Future Prospects on Cannabis Oil Market to Grow at a CAGR of +11% by 2024: Top Companies Analysis SpaceX, Planet Labs, OneWeb, Sierra …

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The report on Cannabis Oil provides an in-depth analysis and fundamental data along with the complete details regarding the Global Cannabis Oil. The global market is experiencing a relatively high growth rate due to increased healthcare spending, a high incidence of chronic diseases, sleep disturbances among patients, and increased perception of treatment for depression.

Cannabis Oil market is anticipate to grow at a CAGR of +11% during the forecast period. The research report studies the Cannabis Oil market in a detailed manner by explaining the key facets of the market that are foreseeable to have a countable stimulus on its developing extrapolations over the forecast period.

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Key Player Profile: SpaceX, Planet Labs, OneWeb, Sierra Nevada Corporation, OHB AG, Spire, etc.

The report also implements primary and secondary research techniques for gathering the most crucial pieces of professional information, and applies a number of industry-best techniques upon the data for projecting the future state of the global Cannabis Oil market. Based on current market development, the report includes an analysis of how activities such as mergers and shapes the market’s future.

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A section containing exceptional detailed data about all the influential players operating in the market has also been included in the report, giving readers and enterprises access to information such as challenges faced by the companies, the growth strategies implemented, the recent developments reported by them, and the financial and business overview of the company.

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Chapter 3 Rising Trends and New Technologies with key players

Chapter 4 Global Cannabis Oil Market Analysis, Trends, Growth Factor

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Chapter 6 Global Cannabis Oil Market Segment, Type, Application

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5 Ways to Up Your Vape Game From Basic to Next Level

A report by BDS Analytic and Arcview Market Research projected that prefilled vape cartridges made up 58% of concentrate spending in 2018.

During your time exploring the depths of social media, you may have stumbled upon an angry Twitter user or two besmirching teenagers for uploading lame vape tricks to Snapchat and inadvertently developing a nicotine addiction. Some people may think Juuls and giant e-cigarette clouds are lame, but vaporization technology has had a much different effect on the adult-use cannabis world.

There’s no shortage of reasons why vape pen mania has taken over the legal weed market. They offer a discreet and convenient way to get high, can be transported nearly anywhere, and tend to pack a more potent punch than raw cannabis flower. This hype isn’t just hearsay. A report by BDS Analytic and Arcview Market Research projected that prefilled vape cartridges made up 58% of concentrate spending in 2018.

But much like the typical entry-level stoner evolution from one-hitter to bong, there comes a time in cannabis lovers’ lives when they feel the need to take their vape game to the next level. If you’re feeling dissatisfied with a cheap vape pen battery and iffy pre-filled oil cartridges, here are some ways to improve your vaporizer experience and get the most out of your weed sesh.

1. Upgrade Your Hardware

Think of your basic, cheap vape pen as if it were a flip phone from the good old days. It’s simple, able to offer basic functions, but it also lacks the innovative features that smartphones, or in this case, a more advanced vaporizer, have to offer.

By upgrading your vape device to a technologically superior alternative, you can stay ahead of the curve. A wide range of portable vaporizers, such as the FlowerMate Hybrid X or PAX 3, are compatible with both flower and concentrate, giving you the ability to know exactly what you’re consuming, and what’s cooler than knowledge? Upgrading your vape can also make the process more versatile and controllable.

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A post shared by PAXvapor (@paxvapor) on Nov 16, 2017 at 10:00am PST

Some devices, such as the PAX 3, are also equipped with smart features that bolster the overall user experience. Instead of just using a blinking light to indicate when your battery is dead, the PAX 3 communicates more information through LEDs, displaying the heating status, battery life, and temperature settings of the device. There’s also a smartphone app that gives users precise control over temperatures, making it easier to achieve specific flavor profiles from your selected cannabis product.

2. Customize Your Vape Pen’s Design

Like your smartphone or wallet, it’s probably hard to imagine leaving home without your vape pen. Considering your vape pen is a significant part of your daily routine, you should strive to personalize it the same way you would with a smartphone case.

Wrap your vape pen up in a psychedelic or marijuana-themed battery wrap to distinguish it from the dull metallic silver of most stock vape pen batteries. For 510-threaded vape pen batteries, which are compatible with most pre-filled vape cartridges, you can find vape wraps that scream personality throughout the internet, including select Etsy stores. If you want to purchase a new vape pen kit that’s already decked out with a sweet decal, check out the wide variety of decorative 510 threaded batteries that online retailers, such as StayLit Design, has to offer.

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A post shared by StayLit (@staylitdesign) on Mar 14, 2019 at 11:14am PDT

There are wraps and vape skins available in all sorts of colors, patterns, and textures, allowing you to reflect your own personality in your device. Not only will these skins help your vape pen stand out, but they also can help cover up any scratches or blemishes that your battery might have incurred through constant use.

3. Find the Good Stuff

You might have heard a lot of warnings about counterfeit vape cartridges. Even some of the industry’s most notable brands, such as Heavy Hitters and Kingpen, have had to combat counterfeits that feature similar branding, logos, and packaging. Before you purchase or consume a vape cartridge, check the manufacturer’s website to check if it provides a protocol to check for authenticity.

But if you live in an adult-use state, it’s easy to source top-notch product by searching for vape cartridges produced by reputable brands and have a certificate of analysis, preferably provided by a third-party testing lab.

Some vape cartridges contain cuttings agents, such as propylene glycol (PG), vegetable glycerin (VG), and polyethylene glycol (PEG), to enhance the intensity of the vapor cloud and overall mouthfeel of the vapors. While the Food and Drug Administration (FDA) has labeled these cutting agents as safe for human ingestion, there’s not much research on what happens when these chemicals are vaporized and inhaled.

If you want to avoid cartridges with cutting agents, browse for products that only contain all-natural, full spectrum cannabis plant oil — no additives included. Some reputable cannabis companies that produce vape cartridges with 100% pure cannabis oil include Bloom Farms and Raw Garden.

4. Know the Potential Benefits

There’s no denying that we need more research into the long-term health effects of vaping, but there is already existing evidence that suggests vaping cannabis is a less harmful alternative to smoking.

One study, published in the Harm Reduction Journal in 2007, found that vaping could decrease respiratory symptoms in regular cannabis users who smoke. Cannabis users seem to concur with the sentiment that vaporization is less harmful than smoking. A survey conducted in 2014 found that marijuana users perceived vaporizers as providing harm reduction and other benefits.

For those who value potency, there’s another argument to be made for vape pens producing more potent highs. A November 2018 study, published in Substance Use and Addiction, found that vaporized cannabis produced stronger “dose-orderly drug effects” than smoking. In other words, the same amount of THC delivered a more potent punch when consumed through a vaporizer.

If your goal is to get high, reason dictates that vaping cannabis is more economical than smoking, since it takes a lesser amount to feel the effects of THC. But remember, this potency could also make you susceptible to overuse.

Another study, published in 2009 in the journal Inhalation Toxicology, suggests that the lower temperature for vaporization, which ranges between 180 to 190 degrees Celsius (356 to 374 degrees Fahrenheit), greatly enhances the ratio of cannabis byproducts compared with the much higher smoking temperature. By vaping raw flower or a full-spectrum concentrate, you can ensure that you’re receiving more than just THC, but also the other cannabinoids and terpenes from the cannabis strain.

5. Always Keep a Spare Battery With You

Nothing kills the vibe of a sesh like a blinking vape pen. Your battery is dead, my guy.

when your vape battery dies and you just sat down to relax

— Archer (@ArchersArcade) March 29, 2019

You can lighten the mood by pulling out a fully charged spare vape pen battery in the nick of time. When you think about it, there’s really no reason not to carry an extra battery with you. They can be purchased for a low price, they’re easy to transport, and can be left charging while you whittle down the battery juice of your primary pen.

For extended trips away from home, we’d also recommend safely packing an extra vape cartridge of cannabis oil to bring along with you, if possible. As vape pen veterans know, these fragile cartridges can break easily, leaving you with a sticky pocketful of oil and no cannabis to consume.

Feature image by Gina Coleman/Weedmaps News


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TDAM launches three ETFs

Three new ETFs from TD Asset Management Inc. (TDAM) have begun trading on the Toronto Stock Exchange, the company announced Thursday.

Two ETFs launch this week focused on U.S. cannabis

The funds, from Evolve and Horizons, will trade on NEO

  • By: Staff
  • April 17, 2019April 18, 2019
  • 14:19

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Cronos Group (CGC) leads the cannabis sector lower after reports a revenue miss

The company said it has been selected by the Luxembourg Health Ministry to be exclusive supplier of a second … Market leader Canopy Growth Corp.

The Dow Jones Industrial Average DJIA, -0.52% fell 400 points in early trade, after Trump claimed that China “broke the deal.” The major indexes have fallen at least 2% this week as anxiety about the deepening trade dispute unsettled investors.

The two main cannabis exchange-traded funds have fallen in sympathy. The Horizons Marijuana Life Sciences ETF and the ETFMG Alternative Harvest ETF have both declined more than 4% in the week so far.

In regulatory news, the National Association of Attorneys General sent a letter to congressional leadership on Wednesday, urging them to pass the SAFE banking act, a bipartisan bill aimed at protecting financial institutions that serve the cannabis industry in states that have legalized.

The letter from 38 state and territory attorneys general asks that Congress approve “the SAFE Banking Act or similar legislation that would provide a safe harbor for depository institutions that provide a financial product or service to a covered business in a state that has implemented laws and regulations that ensure accountability in the marijuana industry.”

The letter notes that the current state of affairs, in which companies are forced to handle large amounts of cash, has made it more difficult to track revenue for tax purposes as well as for regulatory compliance purposes.

From Canada comes a new study that has found that support for legal recreational cannabis is falling in Canada, while uncertainty about it is growing. The study, conducted by The Dalhousie University, found 50.1% of Canadians said they accept legalization, down from 68.6% in a 2017 study carried out before legalization in October of last year, according to media reports.

At the same time, 20.3% said they were uncertain, up from just 6.9% in 2017.

“We were surprised to see that Canadians are actually less enthusiastic about edibles since cannabis became legal last fall,” said Dr. Sylvain Charlebois, author of the report.

The survey comes ahead of the legalization of edibles in Canada in October. Only 36% of those surveyed said they would purchase cannabis-infused food products, down from 46% in the 2017 survey.

“With cannabis edibles being legalized in October, we are frankly curious about the decrease in interest expressed by survey respondents,” said Brian Sterling, one of the report’s co-authors. “We would like to understand that shift. It will be interesting to see how this perspective evolves as cannabis and infused products become more commonplace.”

Cronos Group Inc. shares CRON, -7.56%CRON, -6.76% fell 8%, after the company reported first-quarter earnings. Cronos surprised investors with a small profit of C$427,812 ($317,380), or 48 cents a share, that comes after a loss of C$1,085, or 1 cent a share, in the year-earlier period.

Revenue rose to C$6.470 million from C$2.945 million a year ago. The FactSet consensus of six analysts was for a loss per share of 3 cents and revenue of C$6.390 million. The company sold 1,111 kg of cannabis in the quarter, up from 501 kg in the year-earlier period. Revenue per gram sold came to C$5.73 compared with C$5.67 a year ago.

Aurora Cannabis Inc. ACB, -1.83%ACB, -1.55% shares fell 3.6%. The company said it has been selected by the Luxembourg Health Ministry to be exclusive supplier of a second delivery of medical cannabis to the Duchy. The company said the initial bid quantities are small, but that it showed its ability to work in complex, restricted markets.

Aleafia Health Inc. ALEF, +3.61%ALEF, +3.61% said it welcomes changes to cannabis licensing announced by the Canadian healthy ministry, that seek to align the approach with other regulated sectors. The ministry will require all applicants to have a fully built site that meets all of the regulatory requirements at the time of application, and will complete a review of existing applications to speed up the process.

“These changes will alleviate product shortages and application backlogs, while spurring job creation in local communities as more completed facilities become operational,” said Aleafia Chief Executive Geoffrey Benic. Shares were up 1.5%.

Elsewhere in the sector, Aphria Inc. APHA, -2.31%APHA, -1.71% was down 3.5% and Hexo Corp. HEXO, -2.38% was down 3.6%. Market leader Canopy Growth Corp. CGC, -2.10%WEED, -1.47% was down 3.3%. Tilray Inc. TLRY, +0.75% fell 2.5%.

Medical cannabis retailer MedMen Enterprises Inc. shares MMNFF, +1.58% were down 1.2%. Valens GroWorks Corp. VGWCF, -3.61% was down 2.5%.

The Horizons Marijuana Life Sciences ETF HMMJ, -2.43% was down 2.8%, and the ETFMG Alternative Harvest ETF MJ, -1.33% was down 2.2%.

The ETFMG Alternative Harvest ETF (MJ) was trading at $34.20 per share on Thursday afternoon, down $0.47 (-1.36%). Year-to-date, MJ has gained 5.15%, versus a 7.93% rise in the benchmark S&P 500 index during the same period.

MJ currently has an ETF Daily News SMART Grade of C (Neutral), and is ranked #56 of 85 ETFs in the Global Equities ETFs category.

This article is brought to you courtesy of MarketWatch.

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