Investors reading through the financial statements of the three leading marijuana producers — Canopy Growth Corp (TSX:WEED), Aphria Inc, (TSXV:APH), and Aurora Cannabis Inc. (TSXV:ACB) — are becoming worried about the prevalence of a one line item within the cost of sales titled “unrealized gain on changes in fair value of biological assets” (Canopy), “net effect of unrealized changes in fair value of biological assets” (Aphria) or “unrealized gain on changes in fair value of biological assets” (Aurora Cannabis).
California Insurance Commissioner Dave Jones has been on a mission to ensure state-legal cannabis businesses have commercial insurance coverage and with his announcement of the first California cannabis surety bond program on Feb. 21, 2018, he continues to make progress.
More strife is on the horizon for Ohio’s troubled medical cannabis program. On Feb. 20, 2018, a group of unsuccessful medical cannabis applicants, led by Jimmy Gould of CannAscend Ohio LLC, filed a lawsuit challenging the state’s medical cannabis licensing process.
While the province of Newfoundland and Labrador has its key policies in place for recreational legalization and has secured a supply agreement with Canopy Growth Corporation (TSX:WEED) to provide cannabis for the province, it is now ready to hear from prospective cannabis retailers.