It’s the weekend, so why not take some time and look at what kind of news and coverage the Quebec cannabis market is getting. We try to bring you a snapshot of what’s going on in the other Solitude, because it can sometimes get ignored by other sources.
Are Producers Tax Dodgers?
In Le Journal de Quebec, Annabelle Blais covers the Quebec Premier’s allegations that half of all cannabis producers operate out of tax havens and offshore companies. He is being questioned on his government’s position to not do business with shady operators and companies. (Something the Quebec government has a lot of history with, filed under: Corruption inquiry, Giant)
The Premier says they will do their very best to keep things legit, but considering the demand, the government might end up recieving product from some of these ‘grey’ producers.
Read the whole thing here: http://www.journaldequebec.com/2018/04/19/la-moitie-des-fournisseurs-utilisent-les-paradis-fiscaux
Hydropothecary’s Bet On Quebec Pays Out
This piece in La Presse by Julien Arsenault is about Hydropothecary’s privileged position with the Quebec liquor board, and it’s new 200,000 kilo contract.
This is the other shoe dropping for Hydropthecary (THCX.V). I’ve noted for a while how this company is playing the Quebec cannabis game. Cozying up to government, being a poster child for quebec producers, hiring locals, taking part in government programs – all lead up to this moment, where they walk away with a fat contract, and a Quebec seal of approval.
This one is definitely worth a read if you want to see the likely future of production in Quebec: http://www.lapresse.ca/affaires/economie/quebec/201804/11/01-5160620-cannabis-hydropothicaire-sera-le-fournisseur-privilegie-de-la-saq.php
The Future Conan?
Finally in the French edition of Metro, they take a look at the future of the cannabis market in Quebec. They have some fun stats:
$1200 – est. average yearly spend of a legal cannabis consumer
62 million tons – Governments’ initial order (enough for 124 big spliffs – as noted in the article)
160 million tons – Federal government’s estimated demand for Quebec cannabis.
This article is a good update on the overall plans in the market – outlining distribution, regulation and science. It’s very shallow, but a good primer as to what’s happening in the province.
Read it here: http://journalmetro.com/actualites/national/1503830/zoom-sur-le-futur-marche-du-cannabis-au-quebec/
Native Born
Finally – Radio Canada (CBC) has a story on the first native dispensary in Quebec. This is a culture piece, Quebec First Nations have a long history of tobacco and alcohol sales (and smuggling) in Quebec and Ontario.
This piece talks about the challenges and the community, as well as the potential benefits, yadda yadda yadda.
The important takeaway is if local First Nations leverage their tax exemptions for cannabis in the same way they do for tobacco in Quebec, there could be an interesting showdown coming down the road.
Read the heartwarming story here: https://ici.radio-canada.ca/nouvelle/1097770/cannabis-kanesatake-kahnawake-mohawk-autochtones-premier-comptoir