[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]  Cup of Coffee Capital [@cupofcoffeecap](/creator/twitter/cupofcoffeecap) on x XXX followers Created: 2025-07-24 18:45:46 UTC Cannara ( $LOVFF, $LOVE.V) came out with a low-key impressive press release today. Like is often the case, the press release throws out data points that you then have to contextualize. So, let’s do just that, put it into context. First and foremost, it’s important to understand that cannabis vape products haven’t been allowed in Quebec for over half a decade. Following the 2019 “Vapeagedon” outbreak, Quebec banned regulated cannabis vape product sales in January 2020. The outbreak, which hospitalized over XXXXX people with vaping-associated pulmonary injury (VAPI), was primarily linked to illicit THC vape products containing vitamin E acetate, a thickening agent identified as the main culprit. Yes, you read that right. The provincial government prevented consumers from accessing legal vape products knowing that people would turn, in part, to the illicit market. Yes, the very illicit market that started the vape scare to begin with. As is often enough the case with government intervention, their misguided attempt inadvertently bolstered the illicit market and unnecessarily hurt their own industry, and they’ve kept this rule in force for way too long. Well, in late 2024, Quebec announced plans to lift this ban by fall 2025, aligning more closely with other provinces’ approaches by allowing regulated cannabis vape sales with strict rules (e.g., XX% THC cap, no added flavors except cannabis-derived terpenes). This brings us to today. The press release informed us that Quebec has preliminarily accepted X of their vape cartridges. Those X vape cartridges (SKUs) represent XX% of the XX vape cartridge SKUs that the SQDC (Quebec) plans to distribute across retail stores in November 2025 (Cannara’s Q1 FY 2026). That’s exciting enough. All else being equal, Cannara will immediately make up XX% of the vape market in Quebec. Now, in reality, we don’t know the percentage but let’s go with that. After all, being XX% of the accepted SKUs doesn’t necessarily equate to having XX% market share, it could be more or less. This is also the initial rollout, which is to say that other SKUs from other competitors could come into the Quebec market at a later date. Another exciting dynamic of the press release was this: Québec Vape Market Opportunity: The SQDC reported $XXXXX million in revenue for the Québec market in 2024 and a recent survey conducted by the Institut de la statistique du Québec found that XX% of Québec consumers vaped in the past year, and XX% of those did so at least weekly. With the vape segment representing approximately XX% of total sales in Alberta, Ontario, and British Columbia, Québec’s forthcoming cartridge launch may be one of the largest untapped growth levers in Canada’s legal cannabis market. If we assume that Quebec will be similar to other provinces in having XX% of total sales coming from vapes, then we can estimate that Quebec's vape market will be around $110M. If we assume that Cannara gets XX% of that, then that would mean they’d make an extra $22M per annum in gross revenue (before excise tax). The problem with such assumptions is that they’re woefully simplistic due to us needing to make assumptions due to the lack of information. However, it does seem reasonable to presume a XX% market share (roughly their Quebec province market share). A XX% market share would lead to $14.3M in gross revenue. Although they are #1 in premium live resin vapes, and as tempting as it might be, we shouldn’t assume that the entirety of Quebec's vape market will be premium. The way I’m contextualizing it is that ultimately, the introduction of vapes into Quebec is equivalent to them getting an extra grow room to X ½ grow rooms of revenue. We also need to keep in mind that it will minimally impact Cannara’s Q1 results due to it, at best, only contributing to a ⅓ of their Q1 results. It’s worth keeping in mind that the XX% market saturation isn’t probably going to happen overnight. Quebec has spent half a decade effectively creating, enabling and facilitating an illicit market and consumer workarounds. Therefore, consumer adoption could be slow, with a lower initial penetration rate than the other provinces average of 15%. It’s also worth noting that Quebec’s XX% THC cap rate and flavor restrictions on their vapes is also going to only encourage consumers to continue to buy outside the Quebec province where such bans or limitations don’t exist or aren’t as severe. Upon the recognition of this, it might be wise to conservatively adjust our expectations to the financial impact that this will create. I guess you could say that this is a bitter-sweet win. It’s a step in the right direction but leaves more to be desired, such as a level playing field for consumers and producers. However, all is not lost. For instance, as a consequence of Quebec’s restrictions, Cannara has announced their entry into the live rosin vape cartridge category. Who knows how this could develop, but it’s reasonable to think that it’s a happy by-product that will help gain their brand a further following. It’s like they say, “When life hands you lemons, you make high-quality, flash-frozen, solventless extract.” $LOVE.V, $LOVFF XXX engagements  **Related Topics** [listings](/topic/listings) [lowkey](/topic/lowkey) [$lovev](/topic/$lovev) [$lovff](/topic/$lovff) [Post Link](https://x.com/cupofcoffeecap/status/1948454578384499144)
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Cup of Coffee Capital @cupofcoffeecap on x XXX followers
Created: 2025-07-24 18:45:46 UTC
Cannara ( $LOVFF, $LOVE.V) came out with a low-key impressive press release today. Like is often the case, the press release throws out data points that you then have to contextualize. So, let’s do just that, put it into context.
First and foremost, it’s important to understand that cannabis vape products haven’t been allowed in Quebec for over half a decade.
Following the 2019 “Vapeagedon” outbreak, Quebec banned regulated cannabis vape product sales in January 2020. The outbreak, which hospitalized over XXXXX people with vaping-associated pulmonary injury (VAPI), was primarily linked to illicit THC vape products containing vitamin E acetate, a thickening agent identified as the main culprit.
Yes, you read that right. The provincial government prevented consumers from accessing legal vape products knowing that people would turn, in part, to the illicit market. Yes, the very illicit market that started the vape scare to begin with. As is often enough the case with government intervention, their misguided attempt inadvertently bolstered the illicit market and unnecessarily hurt their own industry, and they’ve kept this rule in force for way too long.
Well, in late 2024, Quebec announced plans to lift this ban by fall 2025, aligning more closely with other provinces’ approaches by allowing regulated cannabis vape sales with strict rules (e.g., XX% THC cap, no added flavors except cannabis-derived terpenes).
This brings us to today.
The press release informed us that Quebec has preliminarily accepted X of their vape cartridges. Those X vape cartridges (SKUs) represent XX% of the XX vape cartridge SKUs that the SQDC (Quebec) plans to distribute across retail stores in November 2025 (Cannara’s Q1 FY 2026).
That’s exciting enough. All else being equal, Cannara will immediately make up XX% of the vape market in Quebec. Now, in reality, we don’t know the percentage but let’s go with that. After all, being XX% of the accepted SKUs doesn’t necessarily equate to having XX% market share, it could be more or less. This is also the initial rollout, which is to say that other SKUs from other competitors could come into the Quebec market at a later date.
Another exciting dynamic of the press release was this:
Québec Vape Market Opportunity:
The SQDC reported $XXXXX million in revenue for the Québec market in 2024 and a recent survey conducted by the Institut de la statistique du Québec found that XX% of Québec consumers vaped in the past year, and XX% of those did so at least weekly. With the vape segment representing approximately XX% of total sales in Alberta, Ontario, and British Columbia, Québec’s forthcoming cartridge launch may be one of the largest untapped growth levers in Canada’s legal cannabis market.
If we assume that Quebec will be similar to other provinces in having XX% of total sales coming from vapes, then we can estimate that Quebec's vape market will be around $110M.
If we assume that Cannara gets XX% of that, then that would mean they’d make an extra $22M per annum in gross revenue (before excise tax). The problem with such assumptions is that they’re woefully simplistic due to us needing to make assumptions due to the lack of information.
However, it does seem reasonable to presume a XX% market share (roughly their Quebec province market share).
A XX% market share would lead to $14.3M in gross revenue.
Although they are #1 in premium live resin vapes, and as tempting as it might be, we shouldn’t assume that the entirety of Quebec's vape market will be premium.
The way I’m contextualizing it is that ultimately, the introduction of vapes into Quebec is equivalent to them getting an extra grow room to X ½ grow rooms of revenue. We also need to keep in mind that it will minimally impact Cannara’s Q1 results due to it, at best, only contributing to a ⅓ of their Q1 results.
It’s worth keeping in mind that the XX% market saturation isn’t probably going to happen overnight. Quebec has spent half a decade effectively creating, enabling and facilitating an illicit market and consumer workarounds. Therefore, consumer adoption could be slow, with a lower initial penetration rate than the other provinces average of 15%. It’s also worth noting that Quebec’s XX% THC cap rate and flavor restrictions on their vapes is also going to only encourage consumers to continue to buy outside the Quebec province where such bans or limitations don’t exist or aren’t as severe.
Upon the recognition of this, it might be wise to conservatively adjust our expectations to the financial impact that this will create.
I guess you could say that this is a bitter-sweet win. It’s a step in the right direction but leaves more to be desired, such as a level playing field for consumers and producers.
However, all is not lost. For instance, as a consequence of Quebec’s restrictions, Cannara has announced their entry into the live rosin vape cartridge category. Who knows how this could develop, but it’s reasonable to think that it’s a happy by-product that will help gain their brand a further following.
It’s like they say, “When life hands you lemons, you make high-quality, flash-frozen, solventless extract.”
$LOVE.V, $LOVFF
XXX engagements
