CANNABIS COMMITTEE
A committee hearing on cannabis has been scheduled in the US Senate
The Senate Judiciary Subcommittee on Crime and Terrorism, which is chaired by Sen. Cory Booker, is scheduled to meet on July 26, per Marijuana Moment.
The meeting, called “Decriminalizing Cannabis at the Federal Level: Necessary Steps to Address Past Harms,” will likely discuss the forthcoming, long-delayed Cannabis Administration and Opportunity Act by Booker, Senate Majority Leader Chuck Schumer (D-NY) and Senate Finance Committee Chairman Ron Wyden (D-OR).
That means the CAOA will likely drop “imminently,” according to the report.
BIG BUCKS
These seven US cannabis CEOs made more than USD $4 million last year
According to regulatory filings, the CEOs of America’s largest cannabis companies brought in more than USD $4 million in compensation in 2021, per MJBizDaily.
They include:
- George Archos, CEO of Verano Holdings, who reported a total compensation of $16,034,122
- Abner Kurtin, CEO of Ascend Wellness, who made a total of $15,960,000
- Jushi Holdings CEO Cacioppo, who reported earnings of $9,871,132
One woman made the list: Trulieve CEO Kim Rivers, whose total compensation in 2021 was $8,054,480.
TORONTO TRADE SHOW
Hall of Flowers is coming to Canada
Industry-leading brand and trade show Hall of Flowers is making its Canadian debut on Sept. 13 and 14 at Enercare Centre in Toronto, per Business of Cannabis.
The B2B trade show is designed to help brands connect with inventory buyers.
“Our goal is to bring 1,000 certified buyers representing 800+ stores and 200 premium licensed cannabis brands together for this elevated experience,” said Dani founder and CEO Diamond in a statement. “By only focusing on the buyers and the brands and offering them a dedicated place to connect, consume and recuperate in our outdoor lounge, we’ve seen how impactful that is to developing relationships and partnerships between them.”
INNOVATION NEEDED
Canada’s legal cannabis industry has a plastic problem
The plastic packaging on Canadian cannabis products produced between 5.8 and 6.4 million kg, according to Leafly. And with the huge numbers of new products hitting the market since, the problem has only worsened.
While strict packaging regulations don’t make it easy, some companies have introduced semi-sustainable options, such as:
- 48North’s compostable cardboard preroll packages
- Mood Ring’s compostable hemp plastic vape cartridge mouthpieces
- Recyclable glass flower jars by Ghost Drops
- Treehugger’s recyclable hemp, bamboo and cardboard preroll packages
- Aqualitas partnered with Sana Packaging, which uses ocean-claimed plastics
Others are just beginning to look at the new types of environmentally friendly packaging available. “There are starting to be options now,” said Grant Caton, general manager for Canada at Canopy Growth. “To get a new packaging into our system requires a bit of work, to be able to fit into our operations and the scale we need. I think our ideas and goals are the same [as smaller producers], but in terms of the scale and the product lines we have, it does just require a little bit more time to make sure it can fit and work for us.”
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