The pledges to purchase shares in The Club Bakery, the processing company being created by the Victoria Cannabis Buyers Club, will start being accepted on June 11.
As outlined in the Strategic Plan 1.0 released by the club earlier this year, this new business will eventually take over the production of edibles and concentrates from the VCBC when it switches over to the legal scheme. Once this capital has been raised, it is the club’s intention to partner with a First Nations community to build the facility.
The club will retain 51% ownership of The Club Bakery. Shares will sell for $10 each. There will be 99,000 shares available for sale, with members getting an opportunity to purchase for a month before the rest are sold off to the public.
If you would like to pledge to purchase shares in The Club Bakery, email email@example.com.
The Club Bakery will produce a wide variety of products, with many based on recipes developed by the late Gayle Quin. Of course the VCBC cookies, brownies, Kamut puffs, capsules, cannoils, massage oils, salves and other products traditionally made by organization will be available. The Club Bakery will also expand into producing everything from chocolates to dog biscuits to suppositories.
At the same time The Club Bakery will also build the capacity to produce the full range of cannabis extracts patients are accustomed to. Making shatter, rosin, hash, and others extracts will give the organization to ability to offer patients and recreational consumers the complete range of products they have relied on for years under prohibition. With its commitment to high quality medicinal products, The Club Bakery has enormous economic potential.
Perhaps the most exciting aspect of this expansion is the opportunity to sell products to adult recreational consumers while giving patients a discount. Once the switch to the legal system has been made, both the VCBC and The Club Bakery will be able to open their doors to the recreational market, dramatically expanding their customer base. Patients with proof of illness will be given a 10% discount, with plans to offer a deep discount to cancer and palliative care patients also in the works.
There are still a few hurdles to overcome before the VCBC is ready to completely comply with the law and join the legal scheme. By far the biggest problem is the low THC content the government is forcing companies to comply with. Since many of the club’s patients rely on strong cannabis products with high THC content, this will have to change before the club is ready to transition into the new system.
Another hurdle is the regulations that forbid a producer to own a retail store too. This roadblock is also stopping small-scale licensed producers from selling their product on-site. While it might sound like an easy way for the government to stop large companies from attempting to monopolize the industry, this policy hurts small businesses and non-profit societies that want to provide specialty products.
Thousands of patients are relying on the club’s edible and topical products to maintain their health. It would be irresponsible for the society to quickly switch over to the legal system without being able to ensure a consistent supply of the same or better products. Indeed, providing high quality, low-cost edible and topical cannabis products has always been the foundation of the VCBC.
While the Victoria Cannabis Buyers Club prepares to move into the new legal scheme, it is remaining a compassion club, requiring new members to provide documentation of a serious medical problem. Hopefully government officials will continue to show restraint by giving us ample time to make this huge adjustment. The club has a strong base of support in the community and solid record in court, including a unanimous Supreme Court of Canada victory in 2015 that made cannabis concentrates legal for patients.
Once the VCBC switches to the legal system and The Club Bakery is fully operational, sales will then open up to adults. Patients will get a discount of 10% and we intend on opening a new category of membership for those in palliative care to give them a deep discount. The Club Bakery will be able to sell its products to distributors across the country immediately.
The VCBC is only taking pledges at this time to ensure members have ample opportunity to learn about this opportunity. With so many billions of dollars being invested into Canadian cannabis companies these days, we anticipate raising less than one million dollars will not take long once we have actually started selling shares. We want to make every effort possible to allow our members to be a part of this historic development.
On June 11 the Victoria Cannabis Buyers Club will be hosting a picnic in Beacon Hill Park to mark the Smith decision at the Supreme Court of Canada in 2015. As is custom, we have also received a proclamation from the city of Victoria declaring June 11 as International Medical Cannabis Day. The picnic will include a BBQ, games and prizes and will be hosted by the baseball diamond behind the petting zoo.