Marijuana Business News

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stocks
business
Wed
27
May

Pro Athletes Who Love Weed Are Taking Cannabis Sponsorships

On a typical Saturday, at 4:30 am, Boulder, Colorado-based competitive ultramarathoner Flavie Dokken takes 5mg of Wana Recreational Tarts, puts on her running shoes, and heads out for a five-hour run. But Dokken is not your typical stoner, she uses cannabis as part of her workout routine and she is sponsored by Wana Brands, a cannabis company that produces cannabis-infused products. Dokken told Vice that the gummies help her tune into her breathing. Although Dokken uses THC (tetrahydrocannabinol, the psychoactive element of cannabis) during training, she stops using it a week before race day because of drug testing.

Wed
27
May

Former heavyweight champ Lennox Lewis invests in Canadian weed company

Lennox Lewis and Mike Tyson, two former heavyweight champions, could be meeting once again. Instead of the squared circle, however, Lewis will be joining Tyson as an investor in the cannabis industry, which his former rival has embraced with zeal.

Lewis, a three-time heavyweight champion who knocked out Tyson during a title bout in 2002, is investing in Canadian company New Maple Holdings Ltd., which specializes in designing large-scale grow facilities for medical marijuana.

The company also has two subsidiaries: New Maple Consulting offers technological advice to new cannabis businesses and licensed weed producer CanWe Growers.

Lewis will also serve as an executive advisor for the company, focusing in sports recovery.

Wed
27
May

Cannabis growing facilities up for sale across B.C.

Large cannabis growing facilities are up for sale in communities across the province as the industry comes to grips with slower-than-expected sales of government-sanctioned cannabis products.

An 18,000-sq.-ft. cannabis cultivation and processing facility is for sale in the Village of Lumby after its owner True Leaf Brands entered bankruptcy proceedings. The asking price for the warehouse-sized operation on 40 acres is $7.25 million.

“We are on a good piece of land in a town that is supportive of the business, so we’ve had quite a bit of interest,” said True Leaf CEO Darcy Bomford. “The deadline for bids is June 19.”

Zenabis is selling a 25,000-sq.-ft. licensed cannabis cultivation and processing facility on Annacis Island for $12.75 million.

Tue
26
May

2 Marijuana Stocks To Watch Before June

In the cannabis industry, there are behemoths and smaller marijuana stocks. While both have their own value points, investors tend to focus on the bigger pot stocks first. Without a doubt, it is a tough time to invest in marijuana stocks. But, for anyone who has been watching the industry in the past few months, they know that it has gotten much more stable. This stability is defined by seeing more consistent gains, and less large jumps in prices. And while this may be true for the moment, it is difficult to predict just how long this stability will last.

Tue
26
May

You've Heard Of D2C. Here's Why i2c May Be The Better Way for Cannabis Brands To Go

In 2011, Dollar Shave Club burst onto the scene. The company was at the forefront of a group of new brands leveraging a direct-to-consumer (“D2C”) model, whereby brands would bypass retailers and sell directly to their fan base. Manufacturing, marketing, selling, and shipping was all executed in-house.

The strategy worked. In 2016, Unilever bought Dollar Shave Club for $1 billion in cash. 

Tue
26
May

Why is Canada Behind the U.S. In Its Cannabis Industry?

A few years ago, Canada was set to become the industry leader for all things marijuana. But with so many marijuana stocks and a bustling cannabis industry, many believe that the market is not nearly where it should be at this point. There are several contributing reasons as to why the country did not overcome the U.S., which are worth taking a closer look at. Of course, Canada is still considered to be number two alongside the U.S. as far as cannabis industries go. And this is not to say that the U.S. marijuana industry does not have its problems, because it without a doubt does.

Tue
26
May

Weed has been deemed essential and demand is recession-proof. So why do retailers still struggle?

Three weeks before the pandemic sent Canadians into a state of emergency, executives at cannabis retail hopeful Mihi were celebrating. After two years of planning, hiring and strategizing, the Ontario-based company was awarded a cannabis retail operating licence by the Alcohol and Gaming Commission of Ontario (AGCO). The plan was to open its first location in the spring.

Just eight weeks later, after reports of skyrocketing cannabis sales by consumers in lockdown, the company announced that those plans had changed.

Tue
26
May

PEI has opened its cannabis stores — with one head-scratching restriction

Prince Edward Island required its four licensed cannabis retail locations to take protective measures when they reopened May 22, but wearing masks was reportedly not among them.

Beyond allowing only “limited access,” namely restricting the number of location occupants, mandatory measures in PEI Cannabis stores included having physical distancing both inside and outside stores, general screening regarding compliance with self-isolation demands prior to entry into the businesses, and no cash transactions for the time being.

Tue
26
May

Canada Licensed Marijuana Sales Jumped 19% in March

In Statistics Canada's latest monthly domestic retail sales update, the government's official numbers cruncher revealed that cannabis sales rose by 19% on a month-over-month basis in March to $181 million Canadian (US$130 million). That gain contrasted dramatically with a relatively pronounced decline in overall retail sales in the country of nearly 8% in the same timeframe.

Much of this, it has to be said, is likely due to "stocking up" behavior among cannabis consumers. March is when mandatory business shutdowns necessitated by the the SARS-CoV-2 coronavirus began in many locations, Canada included. People tended to buy large amounts of goods that would sustain or otherwise help them in the isolated circumstances dictated by stay-in-place measures.

Mon
25
May

Inside the Aurora Cannabis move into the U.S. CBD market

Reliva had been trying to raise venture-capital money at a $40 million valuation before taking that amount in Aurora stock for acquisition

The courtship between Aurora Cannabis Inc. and Reliva began, as many such romances do, at a gathering of industry bigwigs and bankers.

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