00:00 Speaker A

I want to ask you about something else on the regulatory front Irwin because um apparently in the bill that ended the government shutdown, there was a measure related to hemp. Um, and sort of products including beverages that include THC derived from hemp. And I don’t know what your derivation process is for your beverages. Um, but it it’s something that would propose banning that kind of production and I just wonder what the effect if any that would have on the business.

00:43 Erwin

So, number one, in Canada today, we have close to a $50 million business that sells cannabis drinks and they’re only sold within um cannabis stores. And we think that, you know, the different provinces are working on things that will allow us to sell these whether it’s in beer stores or within liquor control businesses. So we see a big opportunity here. In the US, there was a loophole and it was a loophole that you could sell cannabis drinks with anywhere from 5 to 10 to 15 milligrams of hemp THC products.

01:40 Erwin

And you could sell them in those states. Um, there was a bill introduced as part of opening up the government. I don’t think anybody wanted to stop that bill. And Senator O’Connell, you know, I think probably got some pressure from, you know, a lot of whether it’s the spirits companies and that to not to to stop this. But I think what’s happening today, and from everything I understand, there’s bills being introduced. And what the good thing is here, whether it’s the new cannabis bill that President Trump, you know, will sign into effect in regards to rescheduling, whether it’s the bill that will come into effect which Senator Wyden is introducing in regards to him. I’ve always called for regulation. and that’s what’s important here. There’s regulation that will come into place. And I think they’ll regulate whether it’s 5 milligrams of hemp in regards to drinks or 10 milligrams because you got some rogue companies out there selling hemp today with 50 milligrams, which shouldn’t be being sold.

02:44 Erwin

And it’s the same thing with medical cannabis. You got, you know, some illicit markets and markets out there selling cannabis as medical cannabis that does not have the different strains out there, does not have the genetics to be used for that. So what’s important what President Trump’s doing is bringing regulation into this and from a rescheduling. and it helps eliminate an illicit market, it helps put in place real regulations and really quality control whether it’s hemp drinks or it’s medical cannabis. and I think that’s important. You know, one thing we can say about Canada, even though I don’t like the excise tax there, the Canadian government really put in place some great process and policies in regards to both recreational and and medical cannabis in Canada. And that’s the same thing we’re seeing in Europe. You know, as I come back, Germany has, you know, developed one of the biggest markets today in regards to medical cannabis there. So from a standpoint there, if we can do this in the US, and we should be doing this in the US, not looking just at recreational cannabis, but looking at the medical benefits that cannabis can give to patients.

03:22 Speaker A

Yes. Well, it it seems like perhaps we’re heading in that direction. Erwin, we got to leave it there. Thank you so much for joining us. It’s great to see you as always. Thanks.

03:32 Erwin

Thank you very much for having me.