11:49:20 EST Thu 05 Dec 2019
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Cronos Group Inc
Symbol CRON
Shares Issued 333,020,377
Close 2019-06-05 C$ 21.58
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FP/CP say Hexo, rivals hear edible outlook chaotic

2019-06-06 09:27 ET - In the News

See In the News (C-HEXO) Hexo Corp

The Financial Post reports in its Thursday, June 6, edition that Canada's legalization of pot edibles later this year is facing an even more shambolic start than the dried flower market. A Canadian Press dispatch to the Post reports that cannabis lawyer Trina Fraser, a partner at Brazeau Seller Law in Ottawa, says, "At least that time we knew what the permissible product types were going to be and were already making them in the medical context." Canada will add edibles, extracts and topicals to the list of legal cannabis products no later than Oct. 17. Many analysts agree these products will generate better demand and margins than dried flower. The federal government, however, has not yet issued regulations for the new formats, making it difficult for producers to prepare lest they unknowingly violate some rule. Health Canada has not said when the regulations will be released. In addition, a huge licensing backlog has built up at Health Canada. About 614 applications were waiting in the queue as of March 31. Ms. Fraser says, "A full rollout amongst a nice wide array of producers and a wide array of these new product types is going to take time, literally years, because we have such a licensing backlog."

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