Have you ever, like, really thought about corporate mergers?
Two medical marijuana companies are merging to create the country’s biggest licensed pot producer. Tweed Marijuana will purchase Bedrocan Cannabis Corp. in a friendly transaction worth about $61-million. A bunch of medical marijuana companies have sprung up in Canada since April 2014, when the federal government opened up the space to private, licensed producers. So far, there has been no real market leader. But this deal would put Tweed on top, responsible for about a quarter of the registered patients in Canada. The companies say their businesses are complementary: Tweed is branded like a consumer-facing company (It even sells T-shirts, tote bags, and mugs); Bedrocan, meanwhile, resembles more of a traditional medical company, with a heavy emphasis on science and research. The market is set to expand, too, after the Supreme Court ruled earlier this month that medical marijuana can be consumed in forms other than the dried leaf variety, opening the door to cannabis oils, teas, brownies, juices, and just about anything else. Health Minister Rona Ambrose, perhaps having just watched Reefer Madness, claimed to be “outraged” by the court’s decision. Other Canadians, meanwhile, were outraged at her outrage. Our prescription: calm down, everyone.
Elastic not fantastic
The yoga apparel company, which promotes health, fitness, good vibes, and Ayn Rand, could be a threat to your physical well-being, especially if you’re unfamiliar with the concept of elasticity. Lululemon announced it’s recalling about 318,000 hoodies, jackets, pullovers, and tops in Canada and the U.S. owing to the menace posed by an elastic drawstring. Should it be pulled or get caught on something, the cord will snap back upon release and possibly lash the wearer’s face/eyeballs. Health Canada received five reports of “consumer incidents and injuries” related to a variety of Lululemon tops. “Consumers should stop wearing the tops…and either remove the draw cord or contact lululemon athletica to request a new, non-elastic draw cord with written instructions on how to replace the draw cord,” Health Canada advises on its website, in bold text, so you know this is a really serious matter. For Lululemon, this recall is nowhere near as damaging as the whole sheer pants debacle of 2013, but because the company is still under the microscope after that event, the media has pounced on this story and created a batch of bad headlines. (Guilty!) But like the wounds etched in the faces of those lashed by Lululemon’s Don’t Hurry Be Happy pullover, this matter will fade with time.