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Term Sheets

Financial Lending

Service Directory

You’ve been beating the bushes for an investor that fits. One morning you open your email, and there’s a “Term Sheet” – and pages of legal jargon. Before you sign, here are the answers to five frequently asked questions about Term Sheets.

Businesses in a highly-regulated sector like cannabis have unique and complex challenges accessing regular financial lenders with knowledgeable underwriters. They must follow industry trends, changing regulations, jurisdiction requirements and act on present opportunities.

In this issue, Cannabis Prospect Magazine presents its third annual service directory with more than 100 different product companies listed across more than a dozen categories.

Cannabis Prospect Magazine





Table of Contents/

October 2021









As we move closer to a global cannabis economy, numerous things need to be accomplished in order for us to truly claim success about the creation of a global cannabis supply chain. A patchwork of laws exists in every region of the world defined and determined individually by countries as they enter into the global cannabis economy.

Good Manufacturing Practices (GMPs) and Good Production Practices (GPPs) are guidelines regulated by Health Canada for the cannabis industry. These guidelines establish production standards to ensure products are manufactured to an acceptable quality level following current industry-standard methods.

Canadian cannabis companies are being hit by a trifecta of factors that are quickly shaping the outlook of the industry: legalization is expanding, regulations are evolving and innovation is unlocking new products, markets and customer opportunities — both on home soil and around the globe.

In this issue, Cannabis Prospect Magazine presents its third annual service directory with more than 100 different product companies listed across more than a dozen categories.



Emerging businesses, particularly in the cannabis industry, often face a challenge with having the resources and funding to conduct the R&D they need for new product development that will take them to the next level.


One morning you open your email, and there’s a “Term Sheet” – and pages of legal jargon. Before you sign, here are the answers to five frequently asked questions about Term Sheets.


4 6 8 20 24 28 38

From the Editor Events News Product Showcase Provincial Updates Appointments List of Advertisers

Businesses in a highly-regulated sector like cannabis have unique and complex challenges accessing regular financial lenders with knowledgeable underwriters. They must follow industry trends, changing regulations, jurisdiction requirements and act on present opportunities to find financial success. October 2021 | Cannabis Prospect Magazine



Changing of the Guard By David Halpert


ack in our June issue, I looked at three concerns pertaining to the cannabis industry that the federal government should re-examine and/or amend as it comes on the heels of its threeyear review of The Cannabis Act this October. They included a loosening of marketing/advertising restrictions, a re-examination of packaging laws to make them more sustainable and appealing, as well as allowing cannabis delivery and online sales to private cannabis retailers where the provincial government has a monopoly (such as Ontario). While these recommendations are certainly admirable and indeed warranted for many reasons, in hindsight they were also a tad selfish in that I and many others in the media would financially benefit from a retooling of the current cannabis laws. That said, with the federal review looming (and another federal election come and gone) I thought this would be a great time to look at the changes we’re fighting for every day, either directly or indirectly as a result of working in this industry, not necessarily to examine how far we’ve come per se but more a remainder of the challenges we still face and hope to change in the years to come. In mid-August, the Cannabis Council of Canada issued a press release entitled ‘Election Ready: Canada’s Cannabis Industry Launches #FutureofCanadianCannabis’ wherein it outlined a series of seven tenets the association would like the federal government to re-examine come October. They are as follows: 1. Expunge criminal records for possession of cannabis for personal use. 2. Loosen the rules that restrict consumer education and harm reduction.

3. 4. 5. 6.

Get the profits of illicit cannabis out of the hands of criminals and the tax revenues of legal cannabis into the coffers of governments. Remove the taxes on practitioner authorized medical cannabis. Invest to increase the economic participation BIPOC communities in Canadian cannabis. Enhance access to CBD wellness products, especially for seniors. 7. Promote the export of quality Canadian cannabis products to expanding global demand. While I’m not one to be pessimistic, it’s unlikely the three-year review will result in any meaningful changes, if only because there are more pressing matters on most people’s radar (e.g. the pandemic, the economy, etc.). I think the sentiment was best put forth by Rick Savone, C3’s Board Chair and SVP of Global Government Relations at Aurora Cannabis, “These complementary initiatives.. reflect an important step in the maturity of a regulated industry. Canada’s cannabis industry has an extensive local reach and deep relationships, which are especially important since the Statutory Review of The Cannabis Act, set to begin in October 2021, is one of the first issues that newly elected MPs of the 44th Canadian Parliament will hear about.”

President / CEO, Straight Dope Media Inc. @cannabispromag

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Cannabis Prospect Magazine | October 2021




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CONFERENCES & EVENTS October 19-22, 2021 MJBizCon Las Vegas Convention Center Las Vegas, NV

November 20-December 2, 2021 Grow-Up Conference & Expo ScotiaBank Convention Centre Niagara Falls, ON

November 2-3, 2021 Global Executive Cannabis Summit Sheraton Centre Toronto Hotel Toronto, ON

2022 O’ CannaBiz Conference & Expo The International Centre Toronto, ON

November 18-21, 2021 Lift & Co. Cannabis Expo Toronto Metro Convention Centre Toronto, ON

2022 Grow-Up Conference & Expo Location TBD Victoria, BC

To submit an event for inclusion in the Cannabis Prospect Magazine calendar, email

Cannabis Prospect Magazine CANNABIS PROSPECT MAGAZINE VOL. 3, ISSUE 5 SUBSCRIPTION SERVICES For subscription services visit or email For change of address, please include the old address and new address, along with an address label from a recent issue, if possible. If an address is not updated when the magazine is mailed, we are not responsible for delivery of your magazine. If the Post Office alerts us that your magazine is undeliverable, we will suspend our subscription until a correct address is received.


Cannabis Prospect Magazine | October 2021

EDITORIAL For editorial submission requests or article ideas please email Cannabis Prospect Magazine assumes no responsibility for any claims or representations contained in the magazine or in any advertisement. All materials contained are for educational purposes and intended for the legal marijuana business. Cannabis Prospect does not encourage the illegal use of any of the products contained within. ISSN 2562-1033. CANADIAN PUBLICATIONS MAIL PRODUCT AND SALES AGREEMENT NO. 43596516

Publisher and Editorial Director David Halpert Vice President, Marketing Director Cliff Persaud Account Representatives Michael Spencer Cannabis Prospect Magazine is published six times a year by Straight Dope Media Inc., 44 Valleywoods Road, Unit 1802, Toronto Ontario M3A 2R6 Canada ADVERTISING For advertising rates or inquiries please email

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Tinley’s Signs with BevCanna to Produce its AwardWinning Carbonated Tonics in Canada

The Tinley Beverage Company Inc. has signed an agreement with BevCanna Enterprises to produce Tinleys™ Classics, the Canadian versions of Tinley’s award-winning, California-produced “Tinley’s™ Tonics” cannabis beverages. Tinley’s other product family, “Tinleys™ ‘27”, will continue to be produced at Peak Processing Solutions (“Peak”) in Ontario. The Company is also pleased to report updates on the much-anticipated production at Peak. BevCanna will produce and distribute the full line of Tinley’s ready-to-drink, adult beverage-inspired sparkling Tinleys Classics, Canadian versions of Tinley’s Tonics, available in California. The line includes the Moscow Mule-inspired Tinley’s™ Tonics High Horse™, first place winner at California’s prestigious Emerald Cup, the world’s largest cannabis competition.

HEXO to Begin Trading on the Nasdaq HEXO Corp announced that the previously announced transfer of its stock exchange listing to the Nasdaq Capital Market from the New York Stock Exchange is complete. The Company’s common shares began trading as a Nasdaq-listed security at market open, August 24, 2021. Current retail and institutional investor shares will automatically be transferred over to Nasdaq. Current shareholders are not required to take any action. Greenway Signs Supply Agreement with Agro-Greens Greenway Greenhouse Cannabis Corporation, a cultivator of high-quality greenhouse cannabis through lean, high-margin cultivation methods for the Canadian market, has entered into an agreement with Agro-Greens Natural Products Ltd., whereby Greenway will supply 200kg of cannabis biomass per month as inputs to support the Shelter Wildlife Preroll brand across Canada and through Shelter Market. The agreement between Greenway, and AgroGreens and Shelter, offers Canadian cannabis consumers access to the as of yet unavailable cultivars Sun County Kush and BlackBerry Gelato #8. Shelter provides medical cannabis patients access to a broad range of products and Greenway is pleased to finally provide its high-quality cultivars through a trusted and convenient source. BC-based Licensed Cannabis Producer Pure Sunpharms Releases Certificates Of Analysis (COAs) For Dried Flower Products Pure Sunfarms gives Canadian cannabis consumers access to dried flower test results (also known as certificates of analysis or “COAs”) as part of its ongoing commitment to transparency. Those seeking access to information can now easily learn about the 8

Cannabis Prospect Magazine | October 2021

quality of the bud in their bag, and find the information they care about — from cannabinoids, to terpenes, to strain information. Canadian cannabis consumers can now access COAs for Pure Sunfarms dried flower products through an easy-to-use search function on the company’s website. The company’s COAs include key information about each batch of dried flower, including cannabinoid content (potency), terpene levels, and the absence of unwanted chemicals and microbials. Through the web function, consumers can simply input the Lot ID from their Pure Sunfarms dried flower package and view a complete COA document with analytical data and testing information related to the specific batch of dried flower in their bag. Every batch of Pure Sunfarms dried flower is lab tested in accordance with Health Canada guidelines to ensure consumers are receiving safe, quality cannabis. High Tide Announces Addition to the ETFMG Alternative Harvest ETF High Tide Inc., a retail-focused cannabis corporation enhanced by the manufacturing and distribution of consumption accessories, announced that as per the recently disclosed listing of holdings available on its website, the Company’s shares have now been included in the ETFMG Alternative Harvest ETF. “We are very pleased to have our shares included in the ETFMG Alternative Harvest ETF which is the first U.S. and world’s largest ETF to target the global cannabis industry,” said Raj Grover, President and Chief Executive Officer of High Tide. “This is the third new ETF listing for High Tide in the three months since our shares began trading on Nasdaq and once again demonstrates that High Tide’s commitment to operational execution is paying off.” HEXO Achieves Carbon Neutrality HEXO Corp announced the Company had

achieved its goal to become carbon neutral by September 2021, offsetting 100% of its 2020 operational carbon emissions in addition to the personal emissions of its 1,200 employees. In June 2021, HEXO embarked on a mission to counteract its carbon footprint through a partnership with Offsetters, a Vancouver-based organization that supports renewable energy and forest carbon projects across the world. At home in Canada, HEXO is helping reduce old-growth tree harvesting by supporting the Great Bear Forest Carbon Project. This landmark project balances human well-being and ecological integrity through carbon finance and is the first carbon project in North America on traditional territory with unextinguished Aboriginal rights and title. Globally, HEXO supports two other carbon offset projects – a large-scale solar energy project in Asia and another forest conservation project in South America. To achieve carbon neutrality, HEXO offset a total of 25,965 tonnes of carbon – 19,610 tonnes of operational carbon emissions and 6,355 tonnes of its employee’s personal carbon emissions. If the top 100 Canadian companies pursued similar sustainability initiatives, it would be a significant contribution to Canada’s role in combatting climate change. Ayurcann Signs New Manufacturing and Distribution Agreement with Innocan Pharma Ayurcann Holdings Corp., a Canadian extraction company specializing in the processing of cannabis and hemp to produce oils and various derivative products, is pleased to announce that it has entered into a manufacturing and distribution agreement with Innocan Pharma Corporation, an Israelbased pharmaceutical tech company focused on the development of several drug delivery platforms combining CBD. The agreement will see Ayurcann manufacture Innocan’s CBD

Meet the Canadian Leader for Cannabis Travel and Tourism - HiBnb

HiBnb has been created to specialize exclusively in cannabis-focused, Canadian-based accommodations, excursions and activities. When exploring HiBnb, guests are able to book various cannabis-friendly vacation opportunities, events and ventures, as well as cannabis experiences. You can also become a host, allowing consumers to enjoy cannabis in a judgement-free zone while travelling HiBnb is different from any other online booking marketplace. All of the listings available allow guests to enjoy cannabis while travelling and/or doing activities they love most. With something for everyone, from the cannabis-curious to professionals, HiBnb offers opportunities to explore cannabis in safe, supportive, and welcoming environments.“Cannabis became legal in Canada and aside from purchasing at a legal store, nothing else really changed, there wasn’t any solutions for Canadians looking to enjoy these newly legal products & integrate them in their social and travels plans in the same way they can with alcoholic beverages.” said Elizabeth Becker, Founder of Hibnb, “HiBnb was created for the people who want to enjoy in social settings, when they are travelling, and doing things they love, all while feeling comfortable and leaving the stigma behind.”

Topical products consisting of its Relief and Go and SHIR™ Beauty skin care collections. Ayurcann will also act as the exclusive Canadian distributor for the products and will pay royalties to Innocan based on net sales of the products sold by Ayurcann into the Canadian recreational and medical cannabis markets. The agreement is subject to Health Canada approval. Beacon Hill Brands Brings Innovative Cannabis Beverage Kalvara to Canadian Market Beacon Hill Brands Inc., a privately owned Canadian company focused on developing, marketing and distributing functional, nutraceutical and medicinal beverages, is bringing the popular Kalvara brand of Infusion Technology-powered, conveniently-sized cannabis beverages to the Canadian adultuse recreational cannabis market. Previously available in California, Nevada, Colorado, New Mexico, Oklahoma and now Ontario, Canada, Kalvara is powered by the unique Vessl® infusion technology, protecting sensitive ingredients until the moment of consumption, helping to ensure potency, freshness and full flavour. Oxygen and UV light affect the potency of cannabinoids and other sensitive ingredients (vitamins, minerals, antioxidants, etc.). Vessl® technology uses UV resistant plastic, removes oxygen from the container, and pressurizes it using the inert gas nitrogen. The proprietary closure instantly mixes the active ingredients with the water when opened, creating a unique experience for the user. Rubicon Organics Executes Supplier Agreement with Medical Cannabis by Shoppers Drug Mart Inc. Rubicon Organics Inc., a licensed producer focused on cultivating and selling organic certified and premium cannabis, is pleased to announce that it signed a Cannabis Products

Supplier Agreement with Medical Cannabis by Shoppers Drug Mart Inc. The supply agreement with Shoppers includes Simply Bare™ Organic hash, as well as both Wildflower CBD Relief Sticks and Wildflower CBD Cool Sticks in both 30g and 73g product formats. These products will be made available on the Medical Cannabis by Shoppers™ platform. Greenline POS Announces Live Menu Integration with Weedmaps Greenline POS, Canada’s fully-compliant cannabis retail point-of-sale (POS) software, announced a live menu integration with Weedmaps, a leading online listings marketplace for cannabis consumers and businesses. Greenline’s live menu integration will enable clients’ product menus to be updated in real time on Weedmaps, eliminating pain points experienced with having to update multiple menus across platforms and resulting in a more seamless customer experience. To ensure that customers have the most up-to-date information, clients’ POS menus will regularly be scanned to check for any recent changes. If any changes are detected, their Weedmaps menu will automatically be updated to be in sync with their POS menu. “It is critical for cannabis retailers to have a wide-reaching digital presence to provide the best possible consumer experience.” says Albert Kim, Chief Executive Officer of Greenline POS. “We’re excited to work with Weedmaps to provide online menu functionality for all of our customers.” The Valens Company Enters White Label Partnership with Fire & Flower The Valens Company Inc., a manufacturer of cannabis products, announced a white label partnership with Fire & Flower Holdings Corp., a technology-powered, cannabis retailer with more than 90 corporate-owned stores in Alberta, British Columbia, Manitoba, Ontario, Saskatchewan, and Yukon Territory. Under

the terms of the agreement, Valens will manufacture Fire & Flower’s Revity CBD oil for distribution in Ontario, Manitoba, and Saskatchewan, with the potential to expand into additional provincial and territorial markets where permitted and agreed. Decibel Expands into the Province of New Brunswick Decibel Cannabis Company Inc., a premium cannabis producer, is pleased to announce its expansion into the Province of New Brunswick, following approval from Cannabis NB, the province’s only legal recreational cannabis retailer. The Company anticipates its first purchase order from Cannabis NB in early September. In addition to New Brunswick, Decibel’s adult-use cannabis products are available in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, and Prince Edward Island. CORRECTIONS In the September ‘21 issue the dates for the Grow Up Conference were incorrectly listed for early October. In early September, this was changed to November 30-December 2, 2021. Cannabis Prospect Magazine was using the most up-to-date information at the time and apologizes for the error. In the Manufacturer Directory of the September ‘21 issue the old logo for Anatis Bioprotection was incorrectly used instead of its most recent one. Cannabis Prospect Magazine apologizes for the error.

Have a news release? Send it to us. Forward to

October 2021 | Cannabis Prospect Magazine


A PATCHWORK QUILT: CREATING A GLOBAL CANNABIS SUPPLY CHAIN Can we create a true global cannabis economy from the patchwork quilt that is today’s supply chain?


By Jillian Reddish and Robert Hoban

s we move closer to a global cannabis economy, numerous things need to be accomplished in order for us to truly claim success about the creation of a global cannabis supply chain. A patchwork of laws exists in every region of the world defined and determined individually by countries as they enter into the global cannabis economy. This fragmentation creates a number of challenges. We cannot truly claim a global cannabis supply chain until (1) there’s balance (2) there is uniform governmental treatment of the plant and its derivatives and (3) product/material lanes are clearly defined, understood and identified. Let’s start with the concept of balance. Unless and until there is a balance between importation, exportation and domestic distribution (e.g., domestic consumer use), we won’t have the first necessary element of a functioning supply chain – balance. Some nations began this by establishing laws and policies focused on the permissive commercialization of cannabis extracts for export only. Other governments do not permit exportation and so the focus is on tightly regulated domestic distribution of intoxicating and/or non-intoxicating cannabinoid products. We’ve seen progress as some countries recently adapted their export-only policies to allow for domestic distribution and vice versa. The second aforementioned item required for a truly functioning and established global cannabis economy is a uniform governmental treatment of these products, materials and derivatives from an import and export standpoint. Some governments have attempted to add cannabis materials into existing regulations for import/export purposes, while others have created brand new rules for the treatment of these products. The lack of uniformity causes confusion and stymies the development of an efficiently functioning economic supply chain. Uniformity in government treatment, stan-


Cannabis Prospect Magazine | October 2021

dardization and reliable consideration from an import/export perspective, and from a taxation/tariff perspective, is essential. And we haven’t seen that as of yet. Thirdly, it’s essential to have clearly defined and understood lanes for commodities, materials and products. In other fields, there are ‘lanes’ for research materials, for the development and use of pharmaceutical grade materials, products and formulations, and consumer packaged goods, and so on. Yet at present in the cannabis industry, the lines between these distinct product/commodity lanes are very much blurred. All of this confusion is compounded by esoteric marijuana dispensary-type rules in various countries that are highly regulated, as well as differences in legal distinctions for products derived from hemp. In addition, we have to be mindful of the fact that it’s very likely that the derivatives, materials and products created in the supply chain will become, or are in the process of becoming, commoditized. There are some notable highlights in different regions that demonstrate the fact that these pain points are always changing. In Latin America, Mexico’s forthcoming legislation will open up a variety of legal pathways for intoxicating marijuana products and non-intoxicating cannabinoid products derived from hemp or other lowTHC cannabis material. Peru and Paraguay are looking to become substantial formulators and exporters of high-grade material and compounds derived from the cannabis plant for entry into the Latin American regional pharmaceutical supply chain. The small country of Uruguay has a unique ability to participate in the global cannabis trade because of the lack of uniformity and access to those materials in larger supply countries. Most notably, the Colombian government has declared cannabis an industry of national focus, and recently expanded policy to allow for the exportation of cannabis

flower. It’s a significant move for immediate participation in global trade. However, it begs the question of whether biomass will be the primary cannabis material engaged and implemented in international commerce, when transportation costs can be prohibitive, and extraction can be performed closest to the biomass production sites in real time. In contrast, European countries take a focused – perhaps restrictively so – medical perspective for cannabis. Formulations, isolation of compounds and distribution for discrete medical conditions are being refined and developed on a daily basis. This will undeniably increase demand over time for medicines based on or incorporating cannabis, to the benefit of humanity. It’s worth pointing out how much this differs from the “medical” cannabis in the United States and several other places which merely indicates a qualifying condition for the purchase of cannabis but doesn’t involve the medical community in any intimate fashion. As policy reform continues to stagnate in the United States, the Canadian environment seems to be shrinking over time with the high cost of production and compliance. As we have just outlined, market models beyond the U.S.-Canada block are growing and benefiting from competition and innovation, yet a truly efficient global supply chain is barely in its infancy. Without certainty surrounding these three elements, we certainly cannot claim victory over the establishment of a functioning and reliable global cannabis supply chain, but we can mark its progress on a daily and weekly basis, and witness history in the making. Jillian Reddish is the Co-Founder and Managing Partner and Global Cannabis Network Collective / Robert Hoban is the President and Founder of Gateway Proven Strategies.

FANSHAWE OFFERS CUTTING-EDGE CANNABIS R&D SERVICES Fanshawe College’s Centre for Research and Innovation is hosting a free webinar to discuss their industry-leading cannabis R&D capabilities as well as grant offerings within the industry. Funding of up to $100K is available for eligible projects.

WEDNESDAY, NOVEMBER 3, 2021 11 a.m. – 12 p.m. (Hosted on Zoom) Presenters Dr. Colin Yates, Chair of Research, CRI George Smitherman, President and CEO of Cannabis Council of Canada

For more info, or to register, visit


We are Cannabis Prospect Magazine! Companies across Canada are adapting to new changes brought on by this pandemic, and the cannabis industry is no exception. Even though most provinces have named cannabis producers and retailers alike an essential service, reaching the right people has never been more important.

Is your business ready? Whether you’re a licenced producer, retailer, manufacturer or service provider to the industry Cannabis Prospect Magazine will help you reach your customers, stakeholders and other industry professionals across Canada. We’ll make sure your message is heard loud and clear to this new, burgeoning market!

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How the Fanshawe Centre for Research & Innovation is Moving Cannabis Processing Forward



merging businesses, particularly in the cannabis industry, often face a challenge with having the resources and funding to conduct the R&D they need for new product development that will take them to the next level. That’s where applied research institutions like Fanshawe College’s Centre for Research & Innovation (CRI) come in to remove the barriers to R&D growth. Based in London, Ontario, CRI aims to accelerate new product development, encourage knowledge sharing and technology transfer in the food processing sector, and promote the development of a network within the industry. The Centre specializes in the development and enhancement of new and existing products through a cutting-edge in-house food innovation laboratory backed by a team of expert researchers. Further, CRI offers access to funding for eligible projects of up to $100,000 per year. “Conducting innovation projects for R&D is a very expensive undertaking for many growing companies,” says Colin Yates, PhD, chair of research at CRI. “By providing generous government funding that we already have available to eligible projects, we can de-risk the process by partnering together to validate and develop exciting new products. Our measure of success is helping the Canadian economy prosper, and we do that through innovative R&D.” In the last two years, CRI has grown to be one of Canada’s leading centres for cannabis processing research. This includes top-level experience and expertise in ultra-high purification and formulation of trace cannabinoids with potencies exceeding 99%. It also specializes in advanced chromatography and high shear micronization technologies for products in food, beverage, nutraceutical and pharmaceutical. “CRI is nicely equipped with the equipment and analytics to handle any cannabis-related project, but more importantly, we have the intellectu-


Cannabis Prospect Magazine | October 2021

al resources available to conceptualize, execute, conclude and deliver such projects,” says lead cannabis researcher and faculty member Sahar Samimi, PhD. “With expertise among Fanshawe faculty and external researchers with real hands-on industrial and global experience working in cannabis, CRI has a winning combination to bring the ideas to fruition.” As a result, companies that do not have the in-house resources can still run industrial research programs. Similarly, with access to lucrative research funding, they can fund development programs at a fraction of the cost. No project is too little or too great. The centre’s capabilities are mainly focused on processing: extraction, purification, analysis and processing such as homogenization, spray-drying and encapsulation are a few of the core competencies available. The Centre’s cannabis research expertise was demonstrated on two recent industry projects. “The common theme between both projects was the requirement for the cannabinoid to be water soluble,” explains Samimi. “For hydrophobic molecules, there are two ways to disperse them into water, first is by chemical functionalization and secondly by physical transformation. Cannabis regulations prohibit chemical modification of the cannabinoids which are destined to be sold under the adult-use framework; therefore, physical methods are the only go-to. “Emulsification is a common approach that allows for the suspension of hydrophobic molecules into water. CRI is equipped with industry-leading high-pressure homogenizers – using this equipment,” continues Samimi, the cannabinoids were formulated with other chemical compounds such as emulsifiers, surfactants, oils and stabilizers. These are required to effectively create a water compatible structure with the cannabinoids. Upon forming these structures, they are passed through a high-pressure homogenizer, using shear, cavitation and impact, such that nano-particles are created with sizes on the

INTERVIEW PROFILE order of 100-300nm. At this size, combined with the water compatible surface layer, the cannabinoids effectively become water soluble.” One of the beneficiaries of this R&D work was John Filice, CEO Johnny Gold, which worked with CRI and other strategic partners to develop a CBD-coated coffee bean. “Food and beverage is a part of my Italian DNA with my family,” says Filice. “I dreamed of creating a legacy involving food for my family, and I had a particular interest in the cannabis space because of the developing knowledge on the medical benefits of CBD.” Filice approached Fanshawe’s CRI for help getting its product off the ground. “I love good coffee and I was curious about combining CBD with coffee beans. When I learned that Fanshawe had a cannabis research licence, I thought of reaching out to explore product development, and I’m happy to say we have produced something special. My hope is to commercialize it soon.” Filice says that working with CRI helped bridge the gap in scientific knowledge needed to make something truly innovative. “There’s an extraordinarily important scientific piece that went into my coffee-based product from the outset. I needed to find scientists who could help me develop this into something real, and the team at CRI worked with me hand-in-hand all along the way with my vision. The experience of working with a research team like Fanshawe made this all possible.” The second project was met with similar success. Nan Li is Founder of Lupos (Canada) Biotechnology Inc., Canada’s largest white-la-

Emerging businesses, particularly in the cannabis industry, often face a challenge with having the resources and funding to conduct the R&D they need for new product development that will take them to the next level.

bel standard processor of cannabis topicals. Lupos worked with CRI on advanced purification research during the past year. “Working with Fanshawe CRI was very beneficial from a time and cost perspective,” Li says. “CRI has incredible capabilities in the labs and with the scientists’ knowledge to develop our technologies further. At CRI, there’s a strong relationship with industry partners through the scientists and project managers who keep things on track. As a business, while we have these capabilities in-house, we also collaborate with partners to accelerate technology advancement in a competitive environment – so having these resources available to us through CRI was a huge help. Accessing the support at CRI helped us fast-track things, and the project managers really kept the project on track.” CRI is also pleased to co-host an upcoming webinar about its R&D capabilities along with Cannabis Council of Canada on Wednesday, November 3, 2021 from 11 a.m. to 12 p.m. EDT. Register now at researchevents Cannabis businesses looking to kick-start their own R&D projects and remove the barriers to growth can receive a free project consultation by contacting Andrew Kaszowski, Industry Outreach & Communication Coordinator at CRI at or 519452-4430 ext. 4586

Caption (Left Picture): CRI team members L to R: Olivia Peicheff, Omar Zoaarob, Istok Nahtigal

October 2021 | Cannabis Prospect Magazine



Data Analytics: Key Strategies to Manage Energy Costs in Cannabis Grow Facilities By Leighton Wolffe, President of GrowFit Analytics

The following article was originally published in the February ‘21 Issue of Cannabis Prospect Magazine. Energy Supply & Cannabis Grow Facilities Cannabis grow facilities are one of the highest energy-intensive segments across regulated and competitive markets in North America. With energy for lighting, HVAC and other systems costing up to 50% of total operational spend, it is a significant containable cost. The savvy owner needs to know how to leverage energy information to create advantageous power management and purchasing strategies. Beyond efficient design and equipment, much depends on the ability of the energy consuming systems to operate in context of the Power Purchasing Agreement (PPA). Grow operations are unique and equipment schedules that are based on distinctive grow recipes often conflict with standard-rate structures causing unexpected demand charges. To cover both sides of the supply-and-demand equation, grow practices and equipment operations need to align with the business rules contained in the supply contract. To accomplish this, the modern energy buyer will have an information management platform that monitors energy, while also monitoring the HVAC and grow system activities that drive consumption and demand. In this way, identifying and correcting inefficiencies and demand spikes enable the consumer to position themselves for an improved supply-side contract through demonstrated ability to self-manage usage. The energy supplier will view these capabilities as a positive, knowing it has less risk to cover. So, unless your facility is 100% renewable energy, there is an electricity bill every month, and you are likely getting charged for things you had no idea were happening. Other factors causing energy issues are due to increasing demand on the grid. In many locations, electrical distribution zones are not able to handle these new peak load requirements, and this has caused some areas to impose efficiency standards, increase rate charges, and place additional responsibility on the owner to implement effi14

ciency measures and provide reports to show compliance. When grow facilities are at peak load, exposure to market conditions are at their highest. Price x Quantity (P x Q) is the first part of the equation energy suppliers look at to determine how they’ll cover the customer load. One piece of that information is captured in a Load Duration Curve. The chart in Figure 1 below shows levels of demand during the total number of hours per year. Energy suppliers use this chart to determine demand and consumption 8760 hours per year. Demand charges account for 40-50% of each monthly bill with the highest peak within the billing period setting the monthly demand charge. Placing demand limit thresholds on the top 100 hours can significantly reduce annual energy spend. In this case, if the facility was able to eliminate the top 100 hours of demand, this would reduce the annual energy bill by up to 9%. The second piece of information is provided by daily Load Profile Charts. These charts show the patterns, deviations and anomalies in daily usage that originate from equipment op-

Cannabis Prospect Magazine | October 2021

eration. When demand exceeds a rate threshold, additional costs occur. When load profile information is analyzed in context of the PPA rate structure, determinations can be made on optimizing schedules, sequences of events and energy strategies. In this chart, each line is a day’s usage. Note the outlier on the single day that increased monthly demand by 30%. That resulted in a 12% increase on the total energy spend for the month – and could have been avoided. This chart shows the one day that drove demand charges to its new high. It goes without saying that any professional grow operation will pay attention to energy efficiency – but there is a larger game to be played by fully leveraging your PPA from knowing how to manage your equipment. Efficiency measures do not address supply-side

scenarios in the same way as demand strategies that live in 15-minute windows. Careful sequencing of equipment can mean the difference between paying 10-20% extra every month versus 10-20% in cost avoidance. This operational chart in Figure 3 shows the actual equipment and systems that are driving consumption and demand. Managing Grow Costs In addition to monitoring the equipment and systems that serve the entire site, more granular data can be developed by monitoring individual grow rooms. This calculates energy consumption costs for each phase of the grow process. As shown in Figure 4, this particular room has energy density of 50 watts per square foot, which is higher than the mandates in several U.S. States of 36 watts per square foot.

Figure 1: Energy Demand and Consumption with Top 100 Hours of Demand

What Can I Do in My Facility? If your facility is in a regulated market, where the pricing models are fixed and subject to Public Utilities Commission (PUC) approval for any rate changes, having a platform as described above will allow consumers to adjust energy usage to best fit their current PPA. Improvements over time to demand and consumption can be used to evaluate and negotiate alternate rate structures that match the new energy profile. If your facility is in a competitive energy market, there are numerous options to customize and negotiate PPAs based on your specific load profile. Energy suppliers will assess historical interval metre data to make assumptions of future consumption and to calculate risk for over/under use. If a facility has the data and can demonstrate its ability to manage itself and not create unexpected demand spikes, it opens the door to negotiate lower risk supply contracts. It is not just about lowering kWh pricing: instances of reducing annual spend by 5-10% are not uncommon when addressing demand charges first. If you have a new facility with no energy history, the energy supplier will determine a rate profile based on load calculation estimates, but even so, once the site is operational, the data will reveal areas of the PPA that can be revised. Summary The real challenge to achieve control over energy costs is to align the requirements of grow processes with often complex energy cost structures. The grow site needs to know its PPA pricing model, know its energy use profiles and the consumption as well as demand levels across its grow cycles. In addition, it must know what systems are responsible for energy use and costs. When this level of energy information is attained, facility operators are better able to manage energy costs, control overhead, better monitor and protect their investments, while enabling cultivators to replicate future crops with known costs. Leighton Wolffe is President of GrowFit Analytics, a data analytics company providing information & energy management services that guarantees growers achieve consistently higher plant quality and crop productivity. Leighton was formerly the VP of Strategy at Constellation NewEnergy, an energy supplier serving two-thirds of the Fortune 100 with electricity. Leighton has more than two decades of experience in designing building automation systems and implementing data science applications across multiple industries, along with his passion and enthusiasm for the budding cannabis industry.

Figure 2: Daily Load Profile Chart

Figure 3: Operation Chart – Energy Consumption of Equipment/Systems

Figure 4: Energy Consumption Costs – March 2020 October 2021 | Cannabis Prospect Magazine



Five Term Sheet FAQs for Startups & Growing Companies By Duncan Harvie


ou’ve incorporated your cannabis company, it’s been growing steadily, and it now needs money – more than you, your family or friends can contribute. You’ve been beating the bushes for an investor that fits. One morning you open your email, and there’s a “Term Sheet” – and pages of legal jargon. Before you sign, here are the answers to five frequently asked questions about Term Sheets. 1. What’s a “term sheet”? A term sheet is a non-binding agreement setting out the basic terms and conditions of a proposed investment. It can save both the proposed investor and your company time and money if and when the deal proceeds: it allows the parties to agree on the major business terms of the proposed investment, so the deal is likely to move faster; and it’s a guide for legal counsel and advisors to develop detailed and binding legal documents to conclude the deal. 2. Where’s a term sheet come from? Typically, an investor prepares and delivers a term sheet to a company seeking investment, though sometimes the company seeking investment prepares a basic term sheet to describe its offering to prospective investors. It’s usually only more sophisticated investors, such as larger angels, angel groups and venture capitalists (VC), that use a term sheet. 3. What terms are typically in a term sheet? A typical term sheet contains numerous terms generally in four categories: Funding Terms. These set out the economics of the proposed investment, including: »» Who the investor is and whether the company can allow other investors to participate in the round. »» The total size of the round and amount of the proposed investment. »» The investor’s valuation of the company. »» The type of securities (such as convertible debt, common shares, or preferred shares) the investor will purchase from the company. »» A cap table analyzing the company’s percentages of ownership, equity dilution and value of equity in each round of investment by founders, investors and other owners. »» How the company can use the investment proceeds.



Cannabis Prospect Magazine | October 2021


Any conditions the company must meet before the investor will actually fund the investment.

Corporate Governance. These effectively set out who (or what entity) will control the company, including: »» How the Board of Directors will be structured, including the investor’s right to have Board representation. »» A list of decisions requiring the major investor’s approval. »» The investor’s ongoing rights to certain company information, such as its financials and business plan. Investor Protections. These set out what might happen in certain circumstances (such as on the company’s sale or bankruptcy) after the round closes and the investment is complete, and protecting the investor from dilution of its ownership stake in the company. General Terms. These additional terms appear in most legal agreements. In particular in this context are these terms that are binding and generally continue whether or not the proposed investment transaction is completed: »» Payment of professional fees (such as legal or accounting fees) the parties incurred in negotiating the term sheet, conducting due diligence and closing the transaction. Often, the investor demands that the company pay the investor’s professional fees in connection with the investment, but the company can try to negotiate a fee cap for cost certainty and control. »» Confidentiality provisions prohibiting the parties from telling anyone about the fact or the content of their investment discussions. »» Exclusivity provisions prohibiting the company from negotiating with any other prospective investor unless the parties to the term sheet agree. 4. What happens next? An investor’s issuance of a term sheet is an invitation to begin a conversation about a potential investment. If the company wants to continue that conversation, here’s how it usually goes: Term Sheet Negotiation. Before you sign, negotiate. Before you negotiate, you’ll benefit from consulting legal counsel and other advisors; this entails some expense, but investors do far more

Cannabis Prospect Magazine | June 2021

deals than you. And know what is and isn’t negotiable. It’s also crucial that the final term sheet be clear and unambiguous so it can effectively guide your legal counsel and advisors to prepare the binding legal documents, saving the company time, aggravation and money later. Due Diligence. Signing the term sheet isn’t a guarantee the investment deal will close. Term sheets are non-binding because the investor usually needs to first conduct more due diligence investigations into the company, including inquiries into, for example, the company’s corporate documentation, tax returns, financial statements and intellectual property. Binding Legal Documents. Once the parties sign the term sheet, they (ideally via legal counsel) prepare binding legal agreement(s) reflecting the term sheet details. Funding. After the parties sign the binding legal documents, the investor advances the funds in accordance with the deal terms. 5. How long does it take to finalize a term sheet and get to funding? That depends on a number of factors, usually including: »» The time to negotiate the term sheet, which can depend on the nature of the parties involved or the transaction size. »» The time for the investor to conduct its due diligence. »» If it’s a term that the investor will be an anchor investor only, and the company must secure additional investment elsewhere, the time for the company to secure that additional investment. And the more parties, the longer it typically takes to finalize the deal. »» The transaction complexity, which is usually proportionate to its size: the bigger the deal, the more complex it likely is and the longer it’ll likely take to complete. Duncan Harvie is a Lawyer at McInnes Cooper based in Halifax N.S. This article is information only; it is not legal advice. McInnes Cooper excludes all liability for anything contained in or any use of this article. © McInnes Cooper, 2021. All rights reserved.

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Cannabis Prospect Magazine

CLEANING VALIDATION: ONE STEP IN ENSURING CANNABIS QUALITY FOR PRODUCERS What is cleaning validation? Why is it a valuable step for both GPP and GMP cannabis producers? By: Susan Youngquist (Ecolab) and Ashton A. Abrahams (Sigma Analytical Services)


ood manufacturing practices (GMPs) and Good Production Practices (GPPs) are guidelines regulated by Health Canada for the cannabis industry. These guidelines establish production standards to ensure products are manufactured to an acceptable quality level following current industry-standard methods. Health Canada GMP requires cleaning validation, while GPP asks for cleaning effectiveness, which can also be interpreted as cleaning validation. Regardless of GMP or GPP, cleaning validation provides an assurance of cleaning reliability and effectiveness for all cannabis producers. In this article, we will explore the key elements of a cleaning validation program and how those elements deliver benefits in assuring quality production. What is Cleaning Validation? Cleaning validation is a standardized process to confirm the effectiveness of a cleaning procedure and document scientific evidence of that effectiveness. While cleaning validation requirements for cannabis are relatively new, cleaning validation programs are well established and quite well harmonized across countries in the pharmaceutical space. Often, the validation is broken down into three stages or life-cycle steps: Design, Qualification and Continuous Monitoring. Let’s look at each of these. Stage 1 – Design The design/development stage involves understanding the manufacturing process and what needs to be cleaned, identifying the critical control points for cleaning, finding the hardest to clean products and equipment, defining what is clean enough and ultimately authoring the cleaning process. The outcome of the design stage is the cleaning process in a written Standard Operating Procedure (SOP) form. This is a required component in all cleaning validation programs. The SOP details the critical steps of the cleaning processes based on cleaning tests that have been conducted in the lab or on the manufacturing floor. The SOP designates the critical steps for cleaning – time, mechanical action, chemical/concentration, temperature. For a manufacturer making a range of products, this can seem overwhelming. A good place to start would be Product and Equipment Grouping. Product Grouping is a risk-based approach wherein the products are grouped into similar


Cannabis Prospect Magazine | October 2021

formulations or product types so that a single cleaning method (or SOP) can be developed for the group. The cleaning method will target the hardest-to-clean product and then be used for all other products in the group. The same approach can be followed for equipment, where equipment is grouped with similar equipment – e.g all tanks, all pumps, all drying racks. The most difficult-to-clean item or the item that gets the dirtiest in each group is used for SOP development. Often this is the largest tank or the most problematic drying rack and so on. The SOP will specify the detergent and sanitizer of choice and use concentration. The detergent may contain surfactants, alkaline components or acidic ingredients depending on the target soil. The use concentration and application temperature will be specific to the soil, detergent and method of cleaning (manual vs. automated). Following use instructions from the product label is critical, as more isn’t always better. Knowledge of the characteristics of the detergent is critical to inform the cleaning validation protocol, such as types of ingredients, toxicity and rinse profiles. A reputable cleaning partner will be able to provide this product information to you and guide you through the cleaning process design steps. Proper SOP development is fundamental to an effective cleaning program and successful cleaning validation. The SOP will detail for an employee how to execute the cleaning (temperature, mechanical action, concentration, time), tools required for the procedure, safety precautions when performing the cleaning and how to determine that the equipment is clean. Each manufacturer may have other elements required in its SOP format. Stage 2 - Qualification The second stage in cleaning validation is qualification, where evidence is collected to demonstrate that the cleaning process is effective and reliable. This involves establishing acceptance criteria, selecting an analytical method to verify residual contamination, writing cleaning validation protocols, and executing the validation. Typically, the acceptance criteria is established for those parameters that will demonstrate that the equipment has been cleaned and sufficiently void of residue that could contaminate the next product run. The most common parameters are 1) visually clean, 2) product active residue, 3)

detergent residue and 4) microbial residue. If an equipment stream always processes the same active, such as in a cannabis extraction facility where active carrying over into the next product may not be a concern, it may not be necessary to test for residual active. The test method for each success criteria will be specific to that criteria or residue. For instance, while “visually clean” seems self-explanatory, there are a number of factors that can affect this test – lighting, wet vs. dry surface, existing staining or discolouration. A description or photo standard of clean may be helpful. In some cases, specific tools such as a flashlight or mirror are necessary to see hidden spaces. If disassembly is required for

inspection, include this as part of a test method as well. Product actives residue and microbial residue are typically tested in the same manner as the final products themselves. This test capability needs to exist at a qualified lab. Thus, a test method for sampling residues on equipment surfaces can be helpful for defining how the sample is collected from the equipment, perhaps by swab or rinse sample. Detergent and sanitizer residue test methods are typically supplied by the cleaning chemical supplier or the lab. These methods may be specific (HPLC, UV-Vis, LC-MS/MS) or non-specific (TOC, conductivity). A qualified lab can assist in testing detergent residue samples. Each residue will have an acceptance limit that ensures the quality of subsequent batches is not affected by excessive residue in the equipment. This residue is often measured against a Maximum Allowable Carry Over(or MACO) that is determined based on toxicity of the detergent/sanitizer or minimum active dose for an active ingredient. From the MACO, an acceptance limit can be calculated from the equipment surface area and the recovery factor of the residue analyte from the equipment surface. A reputable cleaning partner or analytical lab experienced in supporting cleaning validations can assist in this calculation. The next step is to prepare and execute the validation protocol. The protocol is a controlled document that details the parameters of the cleaning to be validated, the products and equipment to be tested, the residues of concern, the success criteria and the procedures if issues arise during execution. The protocol is executed as successive cleanings are observed and samples are collected and analyzed. Deviations or anomalies in data are investigated and resolved, and the conclusions are summarized in a final validation report.

trending off course. Any failures should trigger a root cause analysis and documented resolution. In Conclusion Regardless of GMP or GPP, cleaning validation contributes to an assurance of cleaning and sanitizing reliability and effectiveness for all cannabis producers. The risk-based guidelines offer a sound approach for an effective cleaning validation program in the cannabis space. A program incorporating the key elements reviewed here will be a good foundation in avoiding product contamination from cleaning operations. There are a lot of details that can take a validation program off-course. Following the three-stage life-cycle approach to cleaning validation, leveraging a quality cleaning chemical supplier and reputable analytical lab sets the cannabis producer on the right course whatever regulated space it may be in. Susan Youngquist is a Technical Consultant and Validation Manager, Personal Care, NA at EcoLab and Ashton A. Abrahams is the President and Co-founder of Sigma Analytical Services.

Stage 3 - Continuous Monitoring The third stage is continuous monitoring to ensure that the cleaning process is maintained in the validated state. Maintaining the validated state requires regularly verifying that the cleaning and sanitizing processes work, and that equipment maintenance and calibration is performed. It is important to monitor that the critical cleaning and sanitizing parameters are maintained, the critical temperatures and concentrations are achieved, and data is not October 2021 | Cannabis Prospect Magazine









New Coir, Engineered Fiber Blocks

Profile® Products, the manufacturer of HydraFiber® engineered fiber substrate, is partnering with FibreDust, a global leader in coconut coir production, to provide growers and blenders with a preblended mix option that combines the benefits of coir and engineered fibers into one readyto-use block. FibreDust HydraFiber Blocks offer 80 cubic feet of compressed material per pallet, providing operational efficiencies and superior performance for plant growth. The blocks can be used as a stand-alone material with an amendment added onsite or incorporated with other substrate materials. By combining coir and engineered fiber into one product, the FibreDust HydraFiber Blocks offer several benefits: EC is about half of conventional coir, potassium is 65% lower than 100% coir, sodium is one-third that of 100% coir, lower salt content compared with 100% coir, no need to buffer with calcium nitrate The blocks arrive compressed for more efficient delivery and yield more material per container than just a 100% coir product.


GreenBroz Rise-N-Sort System, 180X Faster Than Hand Sorting

Gentle on even the most fragile flower, built to exceed regulatory standards, and capable of sorting an astounding 360 pounds of dried buds per hour, the GreenBroz Rise-N-Sort System can drastically increase your operation’s processing speed and remove plant-harming human touchpoints from your system. The Rise-N-Sort has a smaller footprint than other cannabis sorting options, allowing you to maximize your sorting speed and your facility’s square footage. Every part of the machine is designed to be easy to strip down and clean to minimize downtime. Each Rise-N-Sort is built in North America and comes equipped with GreenBroz’ industry-leading threeyear warranty.

Cannabis Prospect Magazine | October 2021

3 GreenBroz Alchemist 420, Turn Your Trim into Gold

The Alchemist 420 dry-sift, solventless trichome extractor from GreenBroz is engineered to help you maximize your harvest. It can process up to 10 pounds of trim per cycle and generally yields 15%-25% of your trim’s weight in kief that can be sold as is or turned into a variety of product SKUs. The Alchemist 420 can be operated as a standalone unit or with the addition of pulverized dry ice to provide the highest yield and most quality product possible. Every Alchemist is designed and manufactured in North America and comes equipped with GreenBroz’ industryleading three-year warranty.

4 StrainSecureTM (SaaS) Platform

The StrainSecure™ Platform is a ground-breaking Software-as-aService (SaaS) platform, designed specifically for the cannabis industry. The platform includes a significant number of features for collaboration, engagement, marketing, and mobile integration, which will drive long-term value for business within the hemp and cannabis industries. The expectations of customers, as it relates to the quality of products they choose to consume, has never been higher. StrainSecure was designed to promote good actors in the industry and help them showcase quality and meet commercial standards including those laid out in California AB-45 to create a safer and more consistent marketplace for customers.

Navigating the Financial Landscape of Cannabis Business By Joshua Reynolds, President of CapitalNow Cannabis


s the cannabis industry flourishes in Canada, micro and major cannabis companies still struggle with navigating the financial landscape. Businesses in a highly-regulated sector like cannabis have unique and complex challenges accessing regular financial lenders with knowledgeable underwriters. They must follow industry trends, changing regulations, jurisdiction requirements and act on present opportunities to find financial success. Cannabis companies continue to get denied from major banks due to their line of work. As a result, cannabis business leaders look to benefit from experienced help by other financial providers, beyond friends and family, as they transform their operations and increase cash flow to find success in the burgeoning industry. All levels of the cannabis supply chain – cannabis licensed producers, packaging and growing suppliers, logistic companies, equipment manufacturers and more – are looking to receive increased working capital when they have payroll, hefty annual fees, hydro, excise tax or when they are looking to increase equipment purchasing or general expansion. With business expenses typically requiring debt financing or additional equity rounds diluting existing shareholders, the cannabis industry looks for innovative solutions. The reluctance of some institutional banks to provide these solutions comes from a perceived risk of a stigmatized sector with stringent government laws and regulations, making Canadian banks slow to adopt financial opportunities for cannabis and hemp businesses. The reluctance of institutional banks has allowed boutique investment


and capital providers to find success in cannabis, creating a niche opening for specialized financiers due to first-mover advantage. This developed a non-dilutive method to financing cannabis and offered both micro and major cannabis companies a way to profit and expand due to financial opportunities. Consumers will eventually benefit from a diverse industry of businesses. Canadian cannabis companies of all sizes are taking advantage of this alternative financing market, and the success of these partnerships has helped overcome the empty promises of institutional lenders. As cannabis companies are particularly capital intensive and become hamstrung by various and challenging payment terms, the demand for alternative funding and other financial services will continue to grow. Businesses of all sizes are looking for trusted partners to maintain or increase operations without risking their current and future relationships or personal credit scores. Additionally, cannabis companies face immense competition, which has increased mergers and acquisitions in the industry. Cannabis business owners look to succeed without feeling they have tapped out of all their funding and resource options. Alternative capital providers look to gain traction as financial leaders and trusted partners in the cannabis industry, with big banks only in play for specific LPs. With services ranging from factoring, equipment financing, specialized insurances and mortgages, SR&ED credit applications and more, they look to offer cannabis companies of all sizes their unique value in a highly regulated and complex industry through

Cannabis Prospect Magazine | June 2021

an all-inclusive model. They differentiate themselves through their understanding of the community, running a multilayered business and offer direct access to motivated decision-makers who are solution-based. Boutique investment firms and alternative capital providers can offer a more personal understanding of cannabis businesses’ challenges. Due to their size and specialization, they typically provide a network of industry-specific relationships, including investors in the cannabis realm, on top of their competitive financing solutions. These specialized financiers are not tied to one segment of the cannabis supply chain and offer solutions to various businesses at every level. This diversity allows outreach and knowledge of multiple sectors of the cannabis industry and expands growth and profitability. Compliance requirements for cannabis businesses vary based on business category, by province and even by which city you are planning to operate. Having financial success with an alternative capital provider means meeting all requirements of a business licence, registration, permit and more based on jurisdiction and category. It is then that industry specialists can allow you to focus on what you do best – cannabis. With the cannabis market continuing to expand as seen in the legality of Cannabis 2.0 – edibles, extracts, topicals and vapes – on October 17, 2019, alternative financing options through specialized financiers can offer companies the capital they need to move forward and be competitive in the cannabis landscape. Joshua Reynolds is the President of CapitalNow Cannabis

October 2021 | Cannabis Prospect Magazine


Today’s Agile Moves Will Help Capture the Growth of Tomorrow’s Cannabis Industry By Joel Alden, Strategy and Transactions Partner at EY Canada


anadian cannabis companies are being hit by a trifecta of factors that are quickly shaping the outlook of the industry: legalization is expanding, regulations are evolving and innovation is unlocking new products, markets and customer opportunities — both on home soil and around the globe. To top it off, negative perceptions of the cannabis industry are slowly subsiding as products become more appealing to the average consumer. Combined, these factors are generating new, viable opportunities that can allow organizations to capture transformational growth and position themselves as industry leaders over the next decade. While still in its infancy, the cannabis sector is proving to be much bigger than first anticipated. And growth is only expected to continue as more global market players prepare for entry. Looking across the border, the potential for federal legalization in the US could greatly affect the perception of cannabis, demand for new products, capital flow into the industry and the research and innovation to fuel the acceleration of product development and consumer acceptance. Todd Harrison, Chief Investment Officer at CB1 Capital, indicates that, “most institutional investors and high-net-worth investors are prohibited from investing in the cannabis space due to legal or regulatory impediments. As these legal and banking barriers resolve, and the cannabis space opens, institutions will likely chase growth.” With an industry moving this rapidly, exploring smart investments, partnerships, joint ventures and transactions will be critical to securing optionality in the future. Recent EY research identifies three key questions Canadian cannabis organizations need to consider today to capitalize on the innovations of tomorrow. Is our view of the addressable market broad enough? More than 40 countries and counting have legalized cannabis, medical cannabis or specific formats for qualifying medical purposes, leading to an estimated 190 to 250 million cannabis consumers worldwide. This growing sector is extremely attractive, no doubt, to adjacent industries looking to expand into new geographies, as well as market, consumer and product segments. In fact, research is beginning to show a host of potential clinical interventions spanning from modulating immunity, inflammation, neuroprotection and pain to reducing hunger and improving metabolism. As cannabis consumption becomes more commonly accepted, and broader audiences recognize its opportunities outside of medicinal and adult-use or recreational markets, consumers will represent diversified demographic and socioeconomic groups

with a variety of need states. The nature of operations, products and existing consumer bases of many companies may already be well positioned to take advantage of the industry shift. But to get ahead, companies must consider how to best connect their current tactics to where the industry is going next. Down the line, they should be on the lookout for synergies from existing assets and capabilities to enter the cannabinoid market and consider where alignment of the two can identify high-growth opportunities. What critical innovations can create new market opportunities for us? Those already shaking up the cannabis industry are taking a holistic view of the sector, using innovation to accelerate research, product development and consumer understanding. On the one hand, dried cannabis flower has been the dominant cannabis format to date and will continue to be an important category. But down the road, individuals may consume cannabis as a supplement with their morning breakfast for a boost of energy, apply cannabis-infused topicals to soothe localized pain from a round of golf, or drink a beverage before bed to promote relaxation. Creating such substitutes and investing in resources to develop these new markets are attractive propositions for adjacent industries already making their way into the space. To capitalize on innovation, cannabis companies will need to consider how to embed it deep into organizational culture. That includes taking down organizational silos that impede innovation to help accelerate the speed and impact of progress. In addition, it may require the creation of col-

Canadian cannabis companies are being hit by a trifecta of factors that are quickly shaping the outlook of the industry: legalization is expanding, regulations are evolving and innovation is unlocking new products, markets and customer opportunities — both on home soil and around the globe.

laborative innovation ecosystems through incubators, accelerators and co-innovation spaces that provide companies with access to resources, infrastructure, product development and commercialization expertise. How can we proactively build optionality into our strategy? The market opportunity ahead for cannabis will only accelerate if major regulatory breakthroughs and scientific milestones are met. Valuation premiums for good operators, additional investments and industry participation are likely to increase as global players, like the US, embrace federal legalization. Early entrance into this emerging industry typically requires significant infrastructure investments. However, late entrants may miss out on opportunities that are accessible only through established and trusted partnerships. Optionality can be built into strategy by taking a consistent

approach to scanning the market, developing adaptive commercial strategies, conducting scenario analysis and engaging in pilots that are structured in a way that reduces risk while enabling active participation. “The main advantage of forming a strategic partnership with an existing licence-holder is speed to market and bringing together complementary strengths,” Trina Fraser, Partner at Brazeau Seller Law points out. “Whether it’s CPG or pharma, they’ll bring their brand-building, technical expertise and asset base to the table to complement a licence holder’s infrastructure, licence to operate and experience to produce products or conduct research.” Given the many unknowns and dynamic changes in the industry’s future, the traditional “build, buy or joint venture” market entry framework may need rethinking. Flexible and innovative investment and partnership strategies, such as structuring contingencies into minority investments, or creating a portfolio of diversified bets, can help organizations mitigate risk and compete effectively. As cannabis continues to evolve from a misunderstood industry to a mainstream product, industry players will have to take calculated risks and push boundaries in how they promote their products and brands to reach new segments. Organizations that dive deep to understand the transformational market opportunities, and focus accordingly, can make agile moves today to position themselves as sector leaders long term. Joel Alden is a Strategy and Transactions Partner at EY Canada. October 2021 | Cannabis Prospect Magazine


Provincial Updates/


In late August, the province of Ontario hit a new milestone in the industry, surpassing 1,000 open, authorized cannabis retailers. Toronto retailers make up approximately one-quarter of all the cannabis retailers in the province, says OCS. Iits website lists nearly 250 retailers within the city. Toronto cannabis retailer 6 of Spade became the 1,000th store in the province when it opened in August of this year.


The Board of Directors of the Société québécoise du cannabis (SQDC) is proud to announce the appointment of Jacques Farcy as President and CEO of the SQDC. Mr. Farcy took office on October 12. Before being appointed President of the SQDC, Mr. Farcy held the position of VicePresident, Sales Network Operations at the SAQ, a company where he also held several vice-presidential positions surrounding marketing and sales. The SQDC increased its first-quarter net income by 51% compared the same period last year, which the SQDC attributed in part to growth in the number of branches in its network. The provincially-run corporation’s net income reached $14.8 million for the 12 weeks ending June 19.


In late August, High Tide, a retail cannabis corporation, has acquired five retail cannabis locations in Regina. The locations include Prince of Wales Drive, Victoria Avenue, Eastgate Drive and Albert Street. All five locations are expected to be operational by the end of 2021. DELTA 9 CANNABIS INC. announced the grand opening of its 13th Delta 9 Cannabis retail store and its 10th cannabis store in the province of Manitoba. Delta 9’s newest retail store is located in the City of Selkirk, also in late August.


According to an CBC article, Aurora Cannabis Inc. said eight per cent of its global workforce will be impacted by the forthcoming closure of one of its Alberta facilities. The cannabis company announced Wednesday that it is closing its Aurora Polaris property in Edmonton as part of a plan to streamline its operations. A spokesperson would not say how many workers could lose their jobs.


Cannabis Prospect Magazine | October 2021


Ayurcann Holdings Corp., a Canadian cannabis extraction company, provided details on a wholesale distribution and supply agreement that it previously entered into with National Cannabis Distribution, a whollyowned subsidiary of Kiaro Holdings Corp., for exclusive wholesale distribution and supply in the province of Saskatchewan.

British Columbia

According to a BNN article, Canadian cannabis giant Tilray is shutting down its Nanaimo, B.C. facility, a move that one local news outlet expects will result in the layoff of up to 170 staff. The move, part of Tilray’s efforts to cut costs following its merger with Aphria, will see the facility close in several phases and is expected to be completed early next year.

Prince Edward Island

This year the Prince Edward Island government will begin to observe September 30th as the National Day for Truth and Reconciliation. Along with provincial government offices, the Prince Edward Island Liquor Control Commission and Cannabis Management Corporation stores, Distribution Centre, and Head Office will also be closed for the day.

Newfoundland & Labrador

Loblaw has opened its 11th retail location for licenced cannabis in the province. That means recreational marijuana is now available at all Dominion stores in Newfoundland and Labrador. The newest and last location to offer cannabis is at the former Memorial Stadium location near Quidi Vidi Lake in St. John’s.

Nova Scotia

The NSLC released its first-quarter financial results (April 1, 2021 – July 4, 2021), reporting an 11.9% increase in earnings for a total of $71.7 million. Total sales for the quarter were up 15.0% to $211.8 million, with an increase in both beverage alcohol and cannabis sales. Overall sales increases can be attributed to 12 extra selling days (due in part to Sunday closures last year), increased store hours (due to pandemic restrictions this time last year) and the addition of 19 new cannabis stores (seven of which opened this quarter). There was a 12.2% increase in beverage alcohol sales this quarter to $187.1 million and 42.7% increase in cannabis sales to $24.7 million.

New Brunswick

Cannabis NB announced it is introducing a new addition to its retail model. The Cannabis FarmGate program will allow licensed New Brunswick cannabis producers to sell their own products onsite at their facilities. To participate in the program, eligible New Brunswick cannabis producers will submit an application to Cannabis NB for consideration. All cannabis products sold at an approved FarmGate store will be required to be grown, produced and packaged onsite and meet all federal regulations prescribed by Health Canada. Cannabis NB released its unaudited first quarter results for the 2021-2022 fiscal year. Total sales of legal recreational cannabis for the quarter ended June 27, 2021 (13 weeks) were $19.9 million, 21.5% higher than the quarter ended June 28, 2020 (13 weeks). Net income for the quarter ended June 27, 2021, was $3.5 million, an improvement of 160.3% compared with the prior year’s quarter net income of $1.4 million.

Yukon / Northwest Territories / Nunavut On September 10th, the Yukon Bureau of Statistics released data on police-reported crime in the territory. The Federal Statues Violations category includes drug violations, possession, production, and trafficking. The legalization of marijuana dropped possession violations of cannabis to zero. There were 100 violations between 2011 and 2016. There were nine violations under the Cannabis Act in 2020. / In 2020-21, the profits from the Nunavut Liquor and Cannabis Commission generated nearly $4 million for the territorial government. Those profits came from nearly $17 million worth of alcohol and about $100,000 worth of cannabis sold by the Nunavut Liquor and Cannabis Commission (NULC) from April 1, 2020 to March 31, 2021. Of those sales, $8 out of $10 came from the Iqaluit beer wine store. In all, the annual profits of $3.7 million from sales of 1.6 million litres of alcohol and a small amount of cannabis went to the territorial government.

October 2021 | Cannabis Prospect Magazine



DISPOSABLES ON THE RISE By Dave Kalpan, Greentank Technologies


hese days, knowing the vape trends and patterns defining your market isn’t enough. Brands need to know where their markets are headed so they can anticipate trends and capitalize on them as they unfold. On the surface, the overall proportion of disposable sales in the US hasn’t wavered much since Q1 2018, accounting, on average, for approximately 10% of the market over this time. While the segment’s national sales may appear steady and consistent—its market share never dropping below 9% or rising above 11%—a deeper dive into the data at the individual market state level reveals that disposable sales are anything but. In California, for instance, disposables are experiencing a slight resurgence after dipping to record low market share levels of 9% in 2020. That number rose to 10% in Q1 2021 and then increased again to 11% in Q2, where it remains two months through the current quarter. We admit that a 2% hike doesn’t exactly jump off of the page, but it’s no small chunk of change either given that California does more than $1B in vape sales annually. Nevada is experiencing a similar resurgence with its disposable category, which cratered to 20% of the market in Q2 2020—its lowest level since Q2 2018—following the emergence of COVID-19 and the subsequent


Cannabis Prospect Magazine | October 2021

These days, knowing the vape trends and patterns defining your market isn’t enough. Brands need to know where their markets are headed so they can anticipate trends and capitalize on them as they unfold.

decline in tourism in the state. That number dropped another 2% to start 2021 but has since rebounded impressively, vaulting to 24% of the market in Q2 and rising yet again to 27% in Q3. In Colorado, disposable sales remained relatively steady throughout 2020 and are now on the rise in 2021, having posted back-to-back record market share levels in Q1 (16%) and Q2 (17%). The current quarter is on pace to be its

most promising yet, with disposable sales spiking to more than 25% of the market through August—a small sample size no doubt, but a glaring pattern nonetheless that simply cannot be ignored. As the most mature and entrenched region in the US, the Pacific Northwest has established itself as “cartridge country” with market shares of the category type consistently above 90%. That chasm is only growing in Oregon, where cartridges have garnered 98% in each of the last four quarters. But it’s a different story in Washington, where the tide appears to be turning for the disposable category. Disposables there hit rock bottom in Q1 2020, plummeting to 1% of the market, but have risen steadily in popularity since. By the end of 2020, disposables accounted for 3% of the market. In Q1 2021, the category jumped another percentage point and then increased once again the following quarter to 5% of the market for the first time, where it remains in Q3. Disposables are moving on an opposite trajectory in Canada. The category debuted impressively when Cannabis 2.0 products were initially launched there, accounting for more than 20% of all Canadian vape sales through the first six months of 2020. Since then, however, the popularity of the segment has steadily declined. Disposables accounted for just 12% of the Canadian vape market over the latter half of 2020, and have basically fallen off of the map entirely in 2021, constituting a mere 4% of all vape products sold through July. Alarm bells aren’t ringing in Ontario just yet; disposables there still account for roughly 10% of the province’s vape sales. But the trend is becoming more difficult to overlook with each passing quarter in Saskatchewan (7.1%), Alberta (6.6%) and British Columbia (3%). The funny thing about trends, though, is that they’re fleeting. Transient. Here for a good time; not a long time! Just because the category appears to be on the ropes in Canada at the moment does not mean that it will be forever. Consumer interests are constantly in flux, as are product technology innovations, package sizes and pricing. And if the disposable-resurgence trends we are seeing in the US are an indication of what’s to come in Canada—and they generally are fairly

Disposables are moving on an opposite trajectory in Canada. The category debuted impressively when Cannabis 2.0 products were initially launched there, accounting for more than 20% of all Canadian vape sales through the first six months of 2020. Since then, however, the popularity of the segment has steadily declined.

reliable precursors—then it’s simply too early to write off the category altogether. Who knows? Maybe we’ll be publishing a similar article at some point in 2022 on the unexpected rise of the Canadian disposable segment. We just threw a lot of data at you, so let’s simplify it in terms of future probabilities and advisable courses of action: ●●

●● ●●


In Nevada, Washington and Colorado, disposables appear to be a strong play. Sales of the category are at record (or near-record) levels in all three markets and have been trending upward in popularity throughout the course of 2021. In California, disposables are a safe play, accounting for north of $100M annually and growing slightly in popularity. In Oregon, disposables are not a safe play. With only 2% market share, they generate less than $4M in revenue annually and with 16 brands already in the space, there is not much room for opportunity. In Canada, disposables are not a safe play at the moment with the category’s market share dipping to record lows in 2021. Yet, there is reason for optimism that disposables could rebound in popularity there at some point in the future.

Simply put, there’s never been a more pressing need for a service like Greentank’s Market Matching in our corner of the industry. If you find the above insights useful, think about what other crucial market insights you might be missing out on. There’s a world of vape data out there that goes beyond disposable and cartridge sales. Contact us today to book your Market Matching consultation or to speak with one of our industry and product experts, and we’ll break it all down for you.

Data was sourced from Headset Insights.

October 2021 | Cannabis Prospect Magazine



DELTA 9 CANNABIS INC. has appointed Dr. David Kideckel, PhD, MBA as Executive Vice President, Head of Strategy, Corporate Development & Capital Markets. This is a newly created position to lead the Company’s next phase of growth expansion. David joins Delta 9 after nearly 20 years of combined industry and capital markets experience, most recently serving as Managing Director, Senior Institutional Equity Research Analyst at ATB Capital Markets. David’s industry experience spans several senior healthcare executive roles including at Johnson & Johnson Inc. and Alexion Pharmaceuticals (acquired by AstraZeneca).

HEXO Corp. expanded its global leadership team with the appointment of Valerie Malone as Chief Commercial Officer. Valerie brings more than 20 years of experience managing businesses across different verticals including consumer packaged goods, technology and electronics, durable goods and consulting to her role at HEXO. Valerie’s vast leadership experience includes roles at highprofile organizations including PepsiCo Canada, Whirlpool Corporation, LG Electronics and Lixil, with responsibilities spanning from Vice-President of Marketing to General Manager and President.

HEXO Corp has appointed Guillaume Jouët as Chief People & Culture Officer. Guillaume brings more than 20 years of experience as a senior international executive leading human resources, sustainability, public affairs and communications functions, to his role at HEXO. Guillaume’s diverse experience includes manufacturing, consumer packaged goods, agriculture, food products, infrastructure, mining and natural resources with roles at Bel (GoGo squeeZ, The Laughing Cow, Boursin, Babybel, etc.) and Italcementi Group (now Heidelberger Group).

Hydra Unlimited®, the leader in water management solutions for commercial hydroponics, has hired Dario Baric for the position of innovation and education cultivator. Baric comes to Hydra Unlimited from a multifaceted career within the cannabis industry. A professional hydroponics grower and consultant for over seven years, he is a registered marijuana caregiver in Michigan. Baric is a widely respected social media influencer; his Instagram feed @ intenselabs has close to 30,000 followers.

The Board of MJardin Group Inc. has appointed Anthony Dutton, a current MJardin board member, as interim Chief Executive Officer of the Company while it completes its previously announced Sales and Investment Solicitation Process (the “SISP”). Effective immediately, Pat Witcher has resigned as the Company’s Chief Executive Officer to pursue other interests. The board of directors (the “Board”) and management of the Company thank Pat for his years of service to MJardin during the Company’s formative years, and the many initiatives he led on behalf of the Company.

Red White & Bloom Brands Inc., a multi-state cannabis operator and house of premium brands, announced the appointment of Ryan Costello to its Board of Directors. Mr. Costello is a former U.S. Congressman (2015-2019, R-PA), and now public policy consultant. Mr. Costello advises companies and investors on public policy and strategic objectives on matters before legislative and administrative agencies, primarily involving healthcare, energy, environmental, technology and transportation matters. In Congress, he served on the Committee on Energy & Commerce, which has jurisdiction over a broad range of industries and policy areas, including healthcare and cannabis policy, as well as the Veteran’s Affairs Committee.

The Board of Directors of the Société québécoise du cannabis (SQDC) announced the appointment of Jacques Farcy as President and CEO of the SQDC. Mr. Farcy will take office on October 12. Holder of an executive MBA from HEC Montreal-McGill University, as well as a diploma from the Commercial Institute of Nancy (France), Mr. Farcy has nearly 30 years of experience in strategic management positions with companies. large-scale, both in France and in Canada. Before being appointed President of the SQDC, Mr. Farcy held the position of Vice-President, Sales Network Operations at the SAQ.


Cannabis Prospect Magazine | October 2021



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Here’s your new guide to over 100 cannabis service providers. The extensive categories list, presented first, is followed by service providers across various groups. Both groups are presented alphabetically. Note: service providers opting for boldface type or other special treatments paid accordingly.

CATEGORY INDEX ACMPR REGISTRATION Apollo Cannabis Clinics CannDelta Inc.*

ASSOCIATION Cannabis Council of Canada Retail Council of Canada

Natural Products and Medical Cannabis* MCS Associates Perennia Food and Agriculture Inc.* Purity-IQ Inc.* Protect-IP Sigma Analytical Services Inc. Surna Cultivation Technologies VerbFactory Zeifmans


CHEMICAL ANALYSIS CannDelta Inc.* Keystone Labs Nucro-Technics Perennia Food and Agriculture Inc.* Syneos Health*

CLINICS/TELEMEDICINE Apollo Cannabis Clinics

Blaze PR Bridge Strategic Communications* FUSE Create* Form Creative* Lamourie Media Marigold Marketing & PR Maracle Inc. VerbFactory



CannDelta Inc.* Greentank Technologies

COMPLIANCE Buoyancy Digital LLC CannDelta Inc.* CannTx Life Sciences Inc.* GardaWorld* HASCO Health & Safety Canada Corporation Loyalist College Applied Research Centre for Natural Products and Medical Cannabis* MCS Associates Molecular Science Corp. Perennia Food and Agriculture Inc.* Purity-IQ Inc.* Protect-IP Sterling Backcheck*

CONSTRUCTION Surna Cultivation Technologies Protect-IP

CONSULTING Blaze PR Buoyancy Digital LLC Cultivatd EY Canada GardaWorld* Greentank Technologies HASCO Health & Safety Canada Corporation Loyalist College Applied Research Centre for 30

Cannabis Prospect Magazine | October 2021


EDUCATION/TRAINING Canadian Academy for Prehospital and CannDelta Inc.* Emergency Medicine Inc.* Cultivatd Durham College GardaWorld* HASCO Health & Safety Canada Corporation Purity-IQ Inc.* The G. Raymond Chang School of Continuing Education, Ryerson University

EVENTS Benzinga

EXTRACTION/PROCESSING CanadaBis Capital Inc.* CannDelta Inc.* Loyalist College Applied Research Centre for Natural Products and Medical Cannabis* Nextleaf Solutions* TAIMA Extracts Inc.

FINANCIAL TAX/SERVICES 2M7 Financial Solutions Arcadian Capital Management BDO Canada LLP Zeifmans

FORMULATIONS Nextleaf Solutions* Perennia Food and Agriculture Inc.*

HEALTH/SAFETY Canadian Academy for Prehospital and CannDelta Inc.* GardaWorld* Emergency Medicine Inc.* HASCO Health & Safety Canada Corporation

HR/RECRUITMENT/ EMPLOYMENT Cannabis At Work* GardaWorld* LHH* Sterling Backcheck*

INSURANCE BrokerLink / LMI Insurance HUB International

INVESTMENT FIRM Arcadian Capital Management Matco Financial

LAB TESTING Canadian Analytical Laboratories Keystone Labs Labstat Loyalist College Applied Research Centre for Natural Products and Medical Cannabis* Molecular Science Corp. Mother Labs Inc. Nucro-Technics Perennia Food and Agriculture Inc.* RPC* Saskatchewan Research Council* Segra International Corp. Sigma Analytical Services Inc. Syneos Health*

LEGAL SERVICES Bennett Jones* Borden Ladner Gervais LLP Cassels Brock & Blackwell LLP Davies Ward Phillips & Vineberg Dentons Canada LLP* Goodmans LLP*

CATEGORY INDEX McInnes Cooper Tiffany & Company Law Corporation*

LICENCE CONSULTING CannDelta Inc.* Cultivatd MCS Associates Protect-IP Sterling Backcheck*

MEDIA Benzinga Bridge Strategic Communications* Buoyancy Digital LLC Marigold Marketing & PR MiQ Digital* VerbFactory Vividata

OTHER Buoyancy Digital LLC Segra International Corp. Vividata Zeifmans

PACKAGING/LABELING CanadaBis Capital Inc.* Greentank Technologies Loyalist College Applied Research Centre for Natural Products and Medical Cannabis* MD Packaging Inc. Maracle Inc.

PEST CONTROL Natural Insect Control


SECURITY Bulldog Fire and Security CannDelta Inc.* GardaWorld* Protect-IP Sterling Backcheck*

SUPPLIER/WHOLESALER/ DISTRIBUTOR Canadawide Scientific Ltd.* Cedarlane Cultivatd Greentank Technologies Mother Labs Inc. Segra International Corp. TAIMA Extracts Inc. West Coast Gifts* *Listings with an asterisk were submitted during the 2020 calendar year.


(Special type treatment requests by respective companies. Category listings begin on page 1.) 2M7 Financial Solutions Avremel Bernstein, CEO Email: Phone: 844-394-2729 Website: Street Address: 3605 Weston Road Toronto ON M9L 1V7 Industry: Financial/Tax Services Apollo Cannabis Clinics Email: Phone: 1-877-560-9195 Fax: 1-866-821-0777 Website: 295 The West Mall - Unit 100 Etobicoke ON M9C 4Z4 Industry: ACMPR Registration, Clinics/ Telemedicine Arcadian Capital Management Stacy Huynh, Director of Operations Email: Phone: 9167644120 Website: 9663 Santa Monica Blvd. #1038 Beverly Hills CA 90210 Industry: Financial/Tax Services BDO Canada LLP Bryndon Kydd, Corporate Partner, Audit & Accounting Email: Phone: 604-443-4713 Website: Unit 1100, Royal Centre, 1055 West Georgia Street Vancouver BC V6E 3P3 Industry: Financial/Tax Services Bennett Jones* Dominique Hussey, Aaron Sonshine, Co-heads of cannabis law practice Emails:, sonshinea@ Phone: 416-777-6230, 416-777-6448 Fax: 416-863-1716 Website: 3400 One First Canadian Place, P.O. Box 130 Toronto ON M5X 1A4 Industry: Legal Services Benzinga Company Division: Benzinga Events Nicole LaPointe, EVP of Operations Email: Phone: 1-877-440-9464 Website: 1 Campus Martius Detroit MI 48226 Industry: Media, Other Blaze PR Matt Kovacs, President Email:

Phone: 310-395-5050 Website: 808 State Street Santa Barbara CA 93101 Industry: Consultant, Creative Agency Borden Ladner Gervais LLP Andrew Powers, Partner Email: Phone: 416-804-0354 Website: 22 Adelaide Street West Toronto ON M5H 4E3 Industry: Legal Services

BrokerLink, Formerly LMI Canada Insurance Lars Rittmann, Commercial Account Executive Email: Phone: 800-265-2625 Website: 818 Victoria Street North Kitchener ON N2B 3C1 Industry: Insurance Bridge Strategic Communications* Company Division: Bridge Strategic Communications Stu Zakim, CEO Email: Phone: 732-754-9051 Website: 36 Hawthorne Place, Suite 4P Montclair NJ 07042 Industry: Creative Agency, Media Bulldog Fire and Security Chad Asselstine, VP Business Development Email: Phone: 1-866-670-1590 Fax: 519-568-8933 Website: 277 Manitou Drive, Unit C Kitchener ON N2C 1L4 Industry: Security Buoyancy Digital LLC Scott Rabinowitz, Founder/Digital Media Buyer Email: Phone: 719-647-7795 Website: 3150 Van Teylingen Dr, Unit D Colorado Springs CO 80917 Industry: Compliance, Consultant, Media, Other CanadaBis Capital Inc.* Company Division: Stigma Grow Chad Hason, Director, Marketing Email: Phone: 403-464-4541 Website: 255C Clearview Drive Red Deer County AB T0M 1R0 Industry: Extraction/Processing, Packaging/ Labeling Canadawide Scientific Ltd.* October 2021 | Cannabis Prospect Magazine


SERVICE DIRECTORY (Special type treatment requests by respective companies. Category listings begin on page 1.) Wayne Capes, Account Manager Email: Phone: 866-932-2724 Website: 2300 Walkley Road Ottawa ON K1G 6B1 Industry: Supplier/Distributor/Wholesaler Canadian Academy for Prehospital and Emergency Medicine Inc.* Robbie Ichelson, CEO Email: Phone: (905) 493-7436 ext. 117 Website: 120 Jones Court Whitby ON L1N 6J9 Industry: Education/Training, Health & Safety Canadian Analytical Laboratories Christian Sood, CEO Email: Phone: 877-246-9107 Website: 6733 Kitimat Road Mississauga ON L5N 1W3 Industry: Lab Testing Cannabis Property Brokers, LLC* Jeff Yatooma, Member Email: Phone: 248-420-0420 Website: 2207 Orchard Lake Road Sylvan Lake MI 48320 Industry: Real Estate/Facility Consulting Cannabis At Work* Elise Duhaime, Executive Assistant Email: Phone: 1-888-484-8952 Website: 7529 72A Street NW Edmonton AB T6B 1Z3 Industry: HR/Recruitment/Employment Services

Cannabis Council of Canada George Smitherman, President & CEO Email: Website: 111 Albert St PO Box 81071 Ottawa ON K1P 1B1 Industry: Association “The Cannabis Council of Canada is the national organization of cannabis licensees on record with Health Canada advocating on behalf of the licensed cannabis industry. C3’s mission is to act as a national voice for our members in the promotion of industry standards; support the development, growth and integrity of the regulated cannabis industry; and to serve as an important resource on issues related to the safe and responsible use of cannabis for medical and non-medical purposes.” 32

Cannabis Prospect Magazine | October 2021

CannDelta Inc.* Sherry Boodram, CEO & Co-Founder Email: Phone: 416-613-8569 Website: 179 John Street, Suite 400 Toronto ON M5T 1X4 Industry: ACMPR Registration, cGMP Manufacturing, Chemical Analysis, Compliance, Consultant, Education/Training, Extraction/ Processing, Health & Safety, License Consulting, Real Estate/Facility Consulting, Security Cassels Brock & Blackwell LLP Jonathan Sherman, Partner & Co-Chair of the Cannabis Law Group Email: Phone: 416-869-5409 Website: Suite 2100, Scotia Plaza, 40 King Street West Toronto ON M5H 3C2 Industry: Legal Services CannTx Life Sciences Inc. Company Division: Steadystem Solutions Jeff Scanlon, VP Operations & Sales Email: Phone: 514-212-2555 Website: 3 Kerr Crescent Puslinch ON N0B 2J0 Industry: Consultant Cedarlane Susan Gater, Director of Sales Email: Phone: 800-268-5058 Website: 4410 Paletta Court Burlington ON L7L 5R2 Industry: Supplier/Distributor/Wholesaler Consult and Grow* David Selema, Vice President / Founder Email: Phone: 844-710-4769 Website: 360 St. Jacques, Ste. 6101 Montreal QC H2Y 1P5 Industry: Consulting Cultivatd Eric Levesque, Managing Partner Email: Phone: 613-360-5195 Website: 120 Sydney Street, Unit 1 Cornwall ON K6H 3H2 Industry: Consultant, Education/Training, License Consulting, Supplier/Distributor/Wholesaler Davies Ward Phillips & Vineberg Patricia Olasker, Partner Email: Phone: 416-863-5551 Website: 155 Wellington Street West, 40th Floor Toronto ON M5V 3J7 Industry: Legal Services

Dentons Canada LLP* Eric Foster, Partner and National Lead of the Cannabis group Email: Phone: 416-863-4462 Website: 77 King Street West, Suite 400 Toronto ON M5K 0A1 Industry: Legal Services Durham College Centre For Professional and Part-Time Learning General Inquiries, Program Assistant Email: Phone: 905-721-3052 Website: 2000 Simcoe Street North Oshawa ON L1G 0C5 Industry: Education/Training EY Canada Monica Chadha, National Cannabis Leader, EY Canada Email: Phone: 416-943-3496 Website: 100 Adelaide Street West Toronto ON M5H 0E2 Industry: Consultant

Fanshawe College Centre for Research & Innovation Andrew Kaszowski, Industry Outreach & Communication Coordinator Email: Phone: 519-452-4430 ext. 4586 Website: 1001 Fanshawe College Blvd London ON N5Y 5R6 “Fanshawe College’s Centre for Research and Innovation (CRI) unlocks innovation that drives the Canadian economy forward by solving industry R&D needs through leading expertise, resources, partners and funding. Our cannabis research license supports this laboratory expertise with unique abilities to support the the cannabis processing industry. We are helping cannabis companies with isolation and purification of specific compounds and provide an intersection between the cannabis and food and beverage industries. To learn more about our cannabis research work and how we can support your R&D needs, visit: www.fanshawec. ca/research” Form Creative* Stuart Wootton, Creative Director Email:








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Network with LPs, head growers, extractors, purchasing agents, distributors, suppliers, manufacturers and more. The VIP Industry pass includes access to all keynotes, panels and sessions, exhibition area, networking café, Meet the Exhibitors Networking Party.

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SERVICE DIRECTORY (Special type treatment requests by respective companies. Category listings begin on page 1.) Phone: 250-298-8117 Website: 101B-6981 East Saanich Road Victoria BC V8Z 5Z2 Industry: Creative Agency FUSE Create* Garo Keresteci, Founding Partner Email: Phone: 416-368-FUSE (3873) Website: 379 Adelaide Street West Toronto ON M5V 1S5 Industry: Creative Agency GardaWorld* Brett Vernon, Business Development Director Email: Phone: 8554642732 Website: Address: 1390 rue Barré Montreal QC H3C 0T2 Industry: Compliance, Consultant, Education/ Training, Health & Safety, HR/Recruitment/ Employment Services, Legal Services, Security

Greentank Technologies Derek Champoux, VP, Brand Email: Phone: 905-699-4444 Website: 102-135 Liberty Street Toronto ON M6K1A7 Industry: cGMP Manufacturing, Consultant, Packaging/Labeling, Supplier/Distributor/ Wholesaler “Greentank custom crafts the best vape hardware in the industry. As the only manufacturer to hold a Health Canada Research & Development Licence, our team of experts help you match your unique extract formulations to the perfect vape device. Delivering the world-class flavour profiles and vapor quality your customers deserve. Combine safety, quality, and design for hardware that is meant to outperform. For reliability you can count on, it’s Greentank MADE or it’s anyone’s guess.” Goodmans LLP, Toronto Office* Victor Liu, Partner Email: Phone: 416-597-5141 Website: Cannabis 333 Bay Street, Suite 3400 Toronto ON M5H 2S7 Industry: Legal Services Grow Up Conference, Expo and Awards Randy Rowe, President Email: Phone: 1-866-GROW-UP-1 Website: 150 Prince Charles Drive, Welland ON L3C 7B3 34

Cannabis Prospect Magazine | October 2021

Industry: Events “Grow Up Conference, Expo and Awards is focused on the education, collaboration and growth of the cannabis growing and extraction industry. Meet top growers, suppliers, equipment manufacturers, extraction equipment and services, investors, lawyers, government officials and growing enthusiasts – May 31- June 2, 2021 Victoria BC / September 1-3, 2021, Niagara Falls ON” HASCO Health & Safety Canada Corporation Laura Bailey, Account Manager Email: Phone: 519-644-2939 Website: 260 Adelaide Street East, PO Box 190 Toronto ON M5A 1N1 Industry: Compliance, Consultant, Education/ Training, Health & Safety HUB International Jay Virdi, Cannabis Insurance Practice Leader Email: Phone: 416-597-4625 Website: 595 Bay Street, Suite 900 Toronto ON M5G 2E3 Industry: Insurance Keystone Labs Stephanie Ostrander, Account Manager Email: Phone: 780-224-2095 Website: 7225 Roper Road Edmonton AB T6B 3J4 Industry: Chemical Analysis, Lab Testing

Labstat International Inc. Kohn Salmas, VP Business Development, Cannabis & NHP Email: Phone: (604) 928-6554 Website: 262 Manitou Drive Kitchener ON N2C 1L3 Industry: Lab Testing “Since 1976, Labstat International Inc. has been recognized as one of the world’s leading consumer product testing laboratories, specializing in analytical chemistry, invitro toxicology, microbiology, and method development. Originally known for their capabilities in the nicotine space, Labstat established their cannabis testing operations in 2015. Building off their Edmonton, Alberta facility’s success; Labstat has now opened an all-new, state-of-the-art, and fully automated cannabis testing facility in Kitchener, Ontario. Labstat is now the very first laboratory to offer full-breadth cannabis regulatory testing, Canada-wide.”

Lamourie Media Tracy Lamourie, Founder, Managing Director Email: Phone: 289-788-5881 Website: 944 Concession Hamilton ON L8V 1G2 Industry: Creative Agency LHH* Company Division: LHH Knightsbridge James Smith, Partner, Executive Search Email: Phone: 416-928-4530 Website: 250 Yonge Street, Suite 2800 Toronto ON M5B 2L7 Industry: HR/Recruitment/Employment Services Loyalist College Applied Research Centre for Natural Products and Medical Cannabis* Cher Powers, Interim Manager, Applied Research and Innovation Email: Phone: 1-888-569-2547 Website: 376 Wallbridge-Loyalist Road Belleville ON K8N 5B9 Industry: Compliance, Consultant, Education/ Training, Extraction/Processing, Formulations, Lab Testing, Other




Maracle Inc. Company Division: Oshawa Brian Ostrander, Sales and Business Development Manager Email: Phone: 905-723-3438 Website: 1156 King Street East Oshawa ON L1H 1H8 Industry: Creative Agency, Packaging/Labeling “Proud printer for Cannabis Prospect Magazine, Maracle delivers custom print solutions with imagination and impeccable customer care. Backed by a century of experience, Maracle plays a vital role in helping businesses of all size engage with their customers and prospects - with custom print solutions. Maracle brings your vision to life with print and takes great pride our ability to adapt to the many technological changes and advances that have been made in the printing industry over the years. Quality craftsmanship, powered by technology - and respect for time, budget and the environment - are hallmarks of the Maracle experience.” Marigold Marketing & PR Katie Pringle,

SERVICE DIRECTORY (Special type treatment requests by respective companies. Category listings begin on page 1.) Co-founder Marigold Marketing & PR Email: Phone: 877-681-5541 Website: 242 Kerr St, Unit 3 Oakville ON L6K 3B2 Industry: Creative Agency, Media

MJBiz 3900 S. Wadsworth Blvd, Suite 100 Lakewood CO 80235 Email: Website:,, Industry: Media, Events, Other “MJBiz is the leading B2B resource for the cannabis industry, cited by The Wall Street Journal, Forbes and Harvard Business Review. Founded in 2011, MJBiz is the most trusted independent publisher and event producer serving entrepreneurs and major investors in the cannabis industry including large-scale cultivators, processors and testing labs, infused product makers, financial services, dispensaries and recreational retailers and the related businesses which serve them. MJBiz produces the #1 cannabis business conference and expo: MJBizCon which is listed among Trade Show Executive’s Fastest 50. The company also produces MJBizDaily and other media outlets covering news and analysis of the marijuana, hemp and CBD industries.” Matco Financial Baron Lee, CFA Vice President, Portfolio Manager Email: Phone: 403-718-2129 Website: 350, 440 - 2 Avenue SW Calgary AB T2P 5E9 Country: CA Industry: Investment Firm McInnes Cooper Sheri Shannon, Business Development Manager Email: Phone: 506-877-0861 Website: industries/cannabis/ 1969 Upper Water St., Suite 1300 McInnes Cooper Tower - Purdy’s Wharf Halifax NS B3J 3R7 Industry: Legal Services MCS Associates Christian Sood, CEO Email: Phone: (855) 350-6420 Website: 6733 Kitimat Road Mississauga ON L5N 1W3 Industry: Compliance, Consultant, License 36

Consulting MD Packaging Inc. Company Division: MD Cannabis Automation Jaime Alboim, Sales Manager Email: Phone: 416-291-9229 x236 Website: 141 Reach Street, Unit #5A Uxbridge ON L9P1L3 Industry: Packaging/Labeling MiQ Digital* Skai Spooner, Marketing Director Email: Phone: 416-560-9489 Website: 60 Adelaide St East, 9th Floor Toronto ON M5C 3E5 Industry: Media Molecular Science Corp. Christian Poole, Sr. Marketing & Programs Manager Email: Phone: 416-618-8505 Website: 55 Town Centre Court Scarborough ON M1P 4X4 Industry: Compliance, Lab Testing Mother Labs Inc. Company Division: Mother Labs Inc Sean Barclay, VP of Sales Email: Phone: 306-653-0028 Website: 343 70 Street East #115 Saskatoon SK S7P 0E1 Industry: Lab Testing, Supplier/Distributor/ Wholesaler Natural Insect Control John Robertson, Owner Email: Phone: 905-382-2904 Website: 3737 Netherby Road Stevensville ON L0S 1S0 Industry: Pest Control Nextleaf Solutions* Ryan Hirsch, Marketing Manager Email: Phone: 778-986-4133 Website: 68 Water Street Vancouver BC V6B 1A4 Industry: Extraction/Processing, Formulations Nucro-Technics Email: Phone: 416-438-6727 Fax: 416-438-3463 Website: 2000 Ellesmere Road, Unit 16 Scarborough ON M1H 2W4 Industry: Chemical Analysis, Lab Testing Perennia Food and Agriculture Inc.*

Cannabis Prospect Magazine | October 2021

Company Division: Bloom Labs David James, Lab Director Email: Phone: 902-890-4052 Fax: 902-896-8781 Website: 173 Dr Bernie MacDonald Drive Bible Hill NS B6L 2H5 Industry: Chemical Analysis, Compliance, Consultant, Formulations, Lab Testing Protect-IP France Boisvert, Rep Email: Phone: 514-589-7444 Website: 6805 Thimens St-Laurent QC H4S 2C7 Industry: Compliance, Consultant, Construction, License Consulting, Security Cannabis Authenticity and Purity Standard (CAPS) Company Division: Purity-IQ Jenna MacLeod, Marketing and Communications Coordinator Email: Website: 150 Research Park Lane Suite 102 Guelph ON N1G 4T2 Industry: Compliance, Consultant, Education/ Training Retail Council of Canada Nikita Patel, Senior Manager, Member & Sponsor Relations Email: Phone: 416-467-3745 Website: 1881 Yonge St, Old Toronto Toronto ON M4S 3C4 Industry: Association RPC* April Boudreau, Client Relationship Manager Email: Phone: 506-452-1212 Website: 921 College Hill Road Fredericton NB E3B 6Z9 Industry: Lab Testing Saskatchewan Research Council* Company Division: SRC Environmental Analytical Laboratories Jeff Zimmer, Manager Email: Phone: 306-933-6932 Website: 143-111 Research Drive Saskatoon SK S7N 3R2 Industry: Lab Testing Segra International Corp. Carson Otto, Director of Sales Email: Phone: 604-284-3204 Website:

SERVICE DIRECTORY (Special type treatment requests by respective companies. Category listings begin on page 1.) 108 - 21300 Gordon Way Richmond BC V6W 1M2 Industry: Lab Testing, Supplier/Distributor/ Wholesaler, Other

Sigma Analytical Services Inc. Email: Phone: 647-496-9919/888-406-0016 Website: 1510 Birchmount Road, Units 209/210 Toronto ON M1P 2G6 Industry: Consultant, Lab Testing “Sigma Analytical Services is the first cannabis-focused GMP-certified analytical and microbiological testing laboratory in Canada, offering comprehensive analytical services, method development, and validation, stability studies, cleaning validation, and consulting, in cannabis and cannabis-derived products. Sigma has been a front-runner in testing cannabis 2.0 products with validated methods for vape cartridges, edibles, topicals, and beverages. Sigma’s service goes beyond a full panel of testing with formulation, product development support, etc. Sigma is Shoppers Drug Mart’s partner in “Medical Cannabis By Shoppers”, and Ecolab’s exclusive partner in Canada and South America to run cleaning validation studies for cannabis processors and producers.” Sterling Backcheck* Linda Ferens, Account Executive Email: Phone: 204-999-0912 Website: 19433 - 96th Avenue Surrey BC V4N 4C4 Industry: Compliance, HR/Recruitment/ Employment Services, License Consulting, Security Surna Cultivation Technologies Courtney Gwynn, Marketing Manager Email: Phone: 303-993-5271 Website: Street Address: 1780 55th Street Boulder CO 80301 Industry: Consultant, Construction Syneos Health* Clark Williard, Executive Director, Bioanalysis Email: Phone: 609-213-0655 Fax: 609-951-0005 Website: 2500 Rue Einstein Quebec City QC G1P 0A2 Industry: Chemical Analysis, Lab Testing

TAIMA Extracts Inc. Ryan Pinsky, Vice President Email: Phone: 905-829-8814 Website: 2225 Winston Park Drive Oakville ON L6H 5R1 Industry: Extraction/Processing, Supplier/ Distributor/Wholesaler “Taima Extracts Is a family-owned and operated extraction facility founded by Canada’s leading food processors. They are devoted to providing single-sourced, high-quality, and consistent bulk cannabinoids specializing in contract manufacturing and white label solutions.” The G. Raymond Chang School of Continuing Education, Ryerson University Client Services Email: Phone: 416-979-5035 Website: category/courseCategoryCertificateProfile. do?method=load&certificateId=1422741 350 Victoria Street Toronto ON M5B 2K3 Industry: Education/Training Tiffany & Company Law Corporation* Company Division: Legal Tiffany Walsh, Founding lawyer Email: Phone: 604-347-9161 Website: Vancouver BC Industry: Legal Services VerbFactory Corey Herscu, Director of Growth Email: Phone: 416-300-3030 Website: Toronto ON Industry: Consultant, Creative Agency, Media

Website: 77 Bloor Street West, Suite 1101 Toronto ON M5S 1M2 Industry: Media, Other “VIVINTEL, the bespoke research arm of VIVIDATA, is Canada’s authoritative source for insights on unique consumer behaviour. With three comprehensive cannabis research studies and multiple in-depth reports, you can delve deep into the market for cannabis in Canada and help kickstart product and marketing strategies to push your cannabis brand top-of-mind. VIVINTEL’s cannabis consumer studies and reports feature insights on current and potential Canadian cannabis consumers, recreational and medical cannabis use, purchasing behaviours, preferred forms, top cannabis brands, consumer media habits and much more. For further details, get in touch:” VRE Systems Randy Phillips, VP Sales Email: Phone: 905-945-8863 Fax: 905-945-9294 Website: 7367 Young Street RR1 Grassie ON L0R 1M0 Industry: cGMP Manufacturing West Coast Gifts* Trish Hudson, Director of Sales Email: Phone: 604-438-4327 Website: 538 East Kent Ave S Vancouver BC V5X 4V6 Industry: Cannabis Accessories Zeifmans Laurence W. Zeiffman, CPA, CA, Partner Email: Phone: 416-256-4000 Website: 201 Bridgeland Avenue Toronto ON M6A 1Y7 Industry: Consultant, Financial/Tax Services, Other

Vividata Tosha Kirk Job Title: Vice President, Client Services Email: Phone: 416 475-7590 October 2021 | Cannabis Prospect Magazine


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Advertiser Index Cannabis Council of Canada............................................................35 CannTX Life Sciences.....................................................................40 Fanshawe College.............................................................................11 Greenline POS...................................................................................5 Grow Up Conference........................................................................33 Lift & Co............................................................................................7 MarijuanaBusinessDaily .................................................................29 SevenPoint Interiors...........................................................................2 Taima Extracts..................................................................................39


Cannabis Prospect Magazine | October 2020


Taima Extracts is a family owned and operated processing facility located in Oakville, Ontario. Originating from the food production space, our expertise and the ability to run a state-of-the-art food processing facility has allowed us to easily transition into large scale production of high-quality cannabis oil. We vigorously vet and audit our suppliers in order to provide the highest quality derivatives from single source input creating ready-to-market products and bulk ingredients for further manufacturing. Our focus is client centric, and customization of turn-key solutions is what we do best. Quality and consistency are the pillars of our company.



Red Market Brand, Co-owners Isadore Day and Christian Sinclair believe that true Indigenous Nationhood can be achieved by striving in every way for the development of healthy, wealthy Indigenous communities.

First Nation Owned and Operated, Red Market Brand will acknowledge and respect our roots by devoting a portion of profits towards creating sustainable First Nation community health and wealth.