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Wednesday, Jun 19, 2024
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.

Cannabis 2.0

‘Surprise’ selection of 2.0 products expected starting Wednesday: BC Cannabis Stores rep

No exact date set, but BC distributor ‘expects 2.0 products to trickle in over the coming weeks’

Surprise selection of 2.0 products expected starting Wednesday - BC Cannabis Stores rep

Cannabis customers should be able to get their endocannabinoid receptors flowing with some of the new edible, drinkable and vapable products starting Wednesday, according to a representative from BC Cannabis Stores.

In an email, an employee told Mugglehead the first round of cannabis 2.0 products should be available in British Columbia this week.

“Beginning on Wednesday, our team expects 2.0 products to trickle in over the coming weeks as producers move quickly to capitalize on new markets,” customer service representative Josh Lepinsky wrote in an email.

Which companies have been the fastest to mobilize on the new markets have yet to be seen, but what has been widely visible is weed companies communicating that they have a wide selection of exciting extract-based products.

Wrapped up with their promised offerings is the all-important message that these new goods will get them back to profitability.

After a disappointing first year for the nascent recreational economy, companies have been leaning hard into the notion cannabis 2.0 will be a financial boon.

Canopy Growth Corp. (TSE: WEED and NYSE: CGC), who has seen its share price drop over 30 per cent this year, has been throwing multiple media events across the country to show off its lines of THC-infused drinks, beverage-infusers and chocolates.

However, the company recently announced these offerings won’t be available until the new year.

Read more: Cannabis 2.0 won’t hit shelves till early January: Canopy

Other companies, like Auxly Cannabis Group Inc. (CVE: XLY), have followed suit by announcing their readiness for the new wave of recreational products.

Several of the company’s products, including its fruit-flavoured Foray soft chews, are listed for sale on the Cannabis Newfoundland website.

VP of investor relations Carla Nawrocki said Auxly has listings across nine of Canada’s 10 provinces — with only Quebec out of the current round of purchasing agreements.

Health Canada requires a 60-day notice period for any new product available for sale, which Nawrocki said Auxly initiated for the newest goods on the earliest available date of Oct. 16.

Many producers have also been doubling-down on messaging that emphasizes their readiness to supply the market with affordable bulk plant matter to be used for extraction.

Read more: 48 North produced some very cheap weed this quarter, but not enough

But exactly when the first new forms of legal, recreational weed will get to B.C. consumers remains a mystery.

“An exact date has not been set,” Lepinsky from BC Cannabis Stores said. “The new product selection will be a surprise and isn’t something we will offer ahead of time.”


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