On June 21, Aurora Cannabis (ACB) announced that in the fall it will launch a national awareness campaign to educate retailers and consumers about safe cannabis consumption and usage. In effect, the derivative products that Aurora Cannabis plans to launch include vaping products as well as edibles and concentrates. On June 21, the cannabis sector, represented by the Horizons Marijuana Life Sciences ETF (HMMJ), fell 2.3%.
Aurora Cannabis CEO Terry Booth said, “We will show leadership when it comes to educating consumers on the safe, responsible consumption of cannabis edibles.” He further added that these education programs will help consumers make “safe and sound decisions” when it comes to purchasing and consuming cannabis-derived products.
These efforts underline the issue of cannabis demand given that cannabis consumption has largely been viewed from a controlled substance point of view. In the US, cannabis continues to be banned at the federal level, and regulators in many states are apprehensive about legalizing cannabis for recreational purposes. Just last week, New York attempted to legalize recreational cannabis, but the bill didn’t pass. For more information, read What Would Legalization in New York State Mean for Cannabis?
Other companies are also pushing to educate consumers about the benefits of cannabis. For example, Tilray (TLRY) has a team to educate the medical community about the benefits of medical cannabis. Aphria (APHA) has a similar program for health professionals.