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Trade To Black: Canada Celebrates 6 Years Of Cannabis

By Shadd Dales On Oct 18, 2024

Happy Friday, and welcome to the Trade To Black podcast for October 18, 2024. Shadd Dales, Anthony Varrell, and Guap take a look at the top headlines for the week. Among them, a new line of cannabis edibles from Ascend Wellness, Snoop Dogg’s appearance on the Today Show, Canopy Growth Corp’s debt repayment, and some big news for SNDL. Canada also celebrates 6 years of legal cannabis this week.

Ascend Wellness (AAWH) has a new lineup of targeted cannabis edibles designed for specific effects. The new products, branded Effin’ Edibles, incorporate some of the minor cannabinoids such as CBN, CBG, and THCV. The different formulations have been tailored to target specific consumer needs such as sleep, balance, and energy. The four products are Effin’ Chillin, for decompression; Effin’ Sleep; Effin’ Hang, which pairs energizing effects of CBG with THC; and Effin’ Do It, which contains THCV for clarity and motivation.

Snoop Dogg made his debut as a meteorologist on the Today Show, delivering a weed-themed weather report with high vibes. We examine how even these small entertainment events are taking a big step in advancing cannabis culture towards mainstream acceptance.

Canopy Growth Corporation (TSX: WEED) has shaved off $100 million in debt, making a proactive move to clean up its balance sheet. The debt repayment came as a surprise to the industry, and it represents a pretty big deal, since few companies in the cannabis space have been making early payments on debt. This early debt repayment has reduced Canopy’s annual debt service costs by about $14 million and reduced the company’s total debt by around 20%.

Big news has come for SNDL and Nova Cannabis shareholders as Nova Cannabis shareholders approved a major merger plan. This is a crucial move for SNDL to not only expand its retail presence but also gain a larger share of the Canadian cannabis market.

Speaking of Canada, the country is currently celebrating the 6 year anniversary of legal cannabis. Canada became the first G7 country to federally legalize cannabis in 2018. Join us for the debate about how the industry has progressed since that historic moment.

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Shadd Dales

Shadd Dales is the Founder and President of The Dales Report and has an extensive background in the business media industry.

His work translates into over 15 years in mainstream media that included roles with BNN Bloomberg, CTV Properties and the iHeart Radio Network.

Shadd is considered one of the leading on air talents in both the cannabis and psychedelic space and has interviewed some of the most notable CEO names in the industry.

Shadd’s vision is to establish a content platform that is equivalent to a mainstream broadcast produced in a format that is relevant for today’s investor.