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Cannabis Summary for June 21, 2021

2021-06-21 20:00 ET - Market Summary

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by Stockwatch Business Reporter

The S&P/TSX Cannabis Index added 2.96 to 205.02, while the CSE Composite Index added 1.25 to 759.85. Cannabis extractors and vape makers took notice as Health Canada released draft amendments to the Cannabis Regulations, setting limits on flavouring in cannabis extracts and vape pens. Starting next year, the regulator is seeking to "restrict the production, sale, promotion, packaging or labelling of inhaled cannabis extracts from having a flavour, other than the flavour of cannabis."

Health Canada said the restrictions are designed to make vaping products less appealing to young people. It cited survey data showing that "inhaled cannabis extracts are an increasingly popular consumption method for young cannabis consumers (i.e. those aged 13 to 25)." Another poll found that a majority of youth and young adults who have ever tried a vaping product cited flavour/smell as a primary reason for trying. Based on the popularity of flavoured products, and the risk that young people are "more likely to experience harm from using cannabis, as brain development continues until the mid-20s," Health Canada has determined that the current age-gated rules are not enough and flavours should be restricted as well. (The regulator did not address concerns that minors who vape illegally would have no qualms getting vapes illegally, which would benefit the black market at the direct expense of the legal industry, while undoing any perceived safety benefits.)

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