Breaking $1 million

Kelowna-based cannabis producer THC BioMed earned more than $1 million in revenue in the first three months of fiscal year 2020.

THC BioMed is one of the more affordable licensed producers, with an average price of $4.20 per gram to medical patients and recreational buyers, which is a bargain compared to other LPs.

“Our focus on high quality, indoor-grown cannabis at reasonable prices has made our cannabis a best seller,” says THC BioMed President & CEO  John Miller. “These results demonstrate the vision and abilities of our management team and we expect to continue this high level of performance going forward.”

The company has pulled some aces out of its sleeve over the past year:
  • It supplied “exclusive to BC” strains to the BC Cannabis Store;
  • had its licence amended by Health Canada to offer Cannabis 2.0 products, including its drink offering, THC Kiss;
  • submitted a new product application to Health Canada for ‘Pure Cannabis Sticks’— filtered smokes filled with cannabis; and,
  • expanded its grow capacity by acquiring more production space in Kelowna.
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Want to be a gov’t budtender?

The province is looking to hire for its BC Cannabis Store location in Vernon.

The BC Liquor Distribution Branch will be holding a job fair in Vernon on Tuesday, Dec. 10, to recruit for the store, set to open early next year. 

It will run from 12 p.m. to 6 p.m. at the Prestige Vernon Lodge and Conference Centre. Attendees will have the chance to meet cannabis store reps.

There will be 10 positions open, including a store manager, assistant store manager, supervisor, and full-time and part-time cannabis consultants.

All candidates have to submit their application via the LDB’s online portal to be considered.

“Successful candidates will receive extensive training concentrating on social responsibility practices related to safe and responsible adult use, comprehensive product knowledge and customer service skills,” says a release from the branch.

“Product knowledge and an understanding of the essential elements related to cannabis products and the industry are appreciated, but not required.”

Retail experience, however, is required.

All BCCS employees must undergo an Enhanced Security Screening.

Vernon’s BCCS location will be at Unit 300A, 2401 – 58 Ave.
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From wood to weed

Cannabis can help lift struggling logging communities out of economic hardship, the National Indigenous Cannabis and Hemp Conference in Kelowna heard this week.

Wesley Sam, co-founder of NATIONS, a cannabis production company based in Burns Lake, told conference goers that cannabis can play a role in re-energizing communities hit by a downturn in the forest sector.

The former Chief of the Burns Lake First Nation says he’s seen his home village fall victim to the downturn.

“Burns Lake and the surrounding areas have seen mills shut down, unemployment reach double-digits, and people have left to pursue opportunities elsewhere. The cannabis industry gives us an opportunity to create economic investment and job opportunities - and, perhaps give people an opportunity to come home,” he says.

“There are a number of communities in Canada and the United States that have experienced similar economic set-backs, and a handful of them have seized the opportunity to create jobs, investment, stability – and perhaps most importantly, create hope for a better future.”

Sam says the licensing process is cumbersome and time consuming, especially with Health Canada regulations requiring a cultivation facility be fully constructed in advance of an application being considered for approval. That requires capital and substantial operational investment.

He urged conference attendees to explore the opportunity. He encouraged those who can’t or don’t have the resources to seek out potential partnerships.

NATIONS expects to be the first indigenous-licensed cannabis producer in BC when fully operational in 2020.
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Quick hits

The big reveal
Canopy Growth unveiled its new portfolio of Cannabis 2.0 products, including drinks, chocolates, vape cartridges and vape pens at a media launch event in Toronto.
A $140 legal ounce
Hexo is launching its new value brand Original Stash in Ontario today, with an ounce retailing at $140 ($5 per gram), including taxes.
Aurora’s flagship store
Aurora has opened its 11,000-square-foot flagship store at West Edmonton Mall, a venture it says will be the “largest experiential and retail cannabis store in Canada.”

Dad jokes

I always knock on the fridge before I open it… just in case there’s a salad dressing.
I have a shared parking lot with my neighbor. I don't like him much, but I've decided to try to be his friend. After all, we have a lot in common.
My grandfather’s last wish was that we convert his ashes into a diamond. That’s a lot of pressure.

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