San Francisco Celebrates Inaugural Weed Week
San Francisco is set to celebrate its first annual Weed Week from April 13-20, an event that promises to attract cannabis enthusiasts with new strain and product releases from top California growers. The event will leverage the city's unique position as one of the few in the state that has on-site smoking lounges permitting cannabis consumption. A highlight includes the “Get to the Bag” Art Exhibit at the Mirus Gallery, which is open from April 5-23.
In the broader cannabis industry, recent developments have surfaced. Ontario's Alcohol and Gaming Commission imposed a $200,000 fine on a cannabis retail chain for unauthorized data transactions. Surrey in British Columbia is poised to start accepting applications for cannabis stores, and the BC Budtenders Union has seen an influx of new members. Meanwhile, the Ontario Cannabis Store reported a decrease in high THC cannabis flower sales following their internal testing. Additionally, a study examining medical cannabis use and its various demographic and health-related factors was released in Canada. Corporate movements include Decibel Cannabis Company Inc. appointing Benjamin Sze as CEO, and High Tide Inc. announcing a CFO transition.
Michigan's marijuana market is experiencing a surge, characterized by low prices and a growing demographic of older users. According to the Michigan Cannabis Regulatory Agency, the state's cannabis sales averaged $305 per resident in 2023, outpacing other states in per capita sales and making Michigan the second largest cannabis market in the U.S. after California. Despite predictions of a slowdown due to market saturation, industry leaders see potential for further growth.
In New York, the Cannabis Control Board granted 101 business licenses and expanded the Office of Cannabis Management's (OCM) licensing authority. The OCM's Executive Director faced criticism over guidance provided to license applicants. Additionally, the Empire Cannabis Manufacturers Alliance, a new trade group of licensed processors, was formed. Concerns also arose about the potential absence of a cannabis relief fund in the 2024 state budget, which could impact licensed growers financially. Notably, “Hawaii” Mike Salman, co-founder and CEO of Chef for Higher, was featured in NY Cannabis Insider's series on significant figures in the state's cannabis industry.
