Canadian CANNAINVESTOR Magazine December 2017 | Page 195

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Right now we sit and wait for that third reading in the Senate before it goes to the House of Commons and will go through a similar process at this time. If the bill is scheduled, any legislator of the Senate can suggest amendments to the bill, even in the third reading. The amendments can be approved by a majority vote of the full body of legislators. Even when it reaches the House, as long as the bill is advancing and doesn’t “die”, amendments may be proposed and accepted.

Until then, which could take up to 8 months to be finalized, we sit and wait. LP’s will prepare for what will come on July 1st, 2018. What that will mean to advertising, promotion, packaging, and celebrity branding and promotion remains to be seen. But it hasn’t stopped LP’s from making deals with celebrities and there is some expectation that this will continue and we will see more.

In the immortal words of Gord Downie, “I have no illusions of the future. Or maybe it’s all illusion. I don’t know. I’ve always been ready for it.” A cloud remains right now on celebrity branding among other advertising practices, but be assured, LP’s will be ready for it. Whatever it may be. I don’t know.

Spiro Sertsis, CPA, CMA

@SpiroSertsis

UPDATE: On December 7th, Beleave Inc.(CSE:BE, OTC:BLEVF) announced that they have entered into a Brand Licensing Agreement with Kevin Smith and Jason Mewes of “Jay and Silent Bob” fame. The deal calls for the development of various proprietary strains geared toward the recreational market and will be available under the Beleave Kannabis brand. In the past, Kevin Smith had his own strains selling in Los Angeles, California, a sativa strain called White Walrus and indica strain called Mr. Tusk and is working on a comedy centred around a marijuana dispensary, similar to his 1994 hit comedy “Clerks”. Read full press release.

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