Marijuana Business News

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Tue
18
Jan

DoorHash? App-based pot delivery among recommendations from B.C. business group

hemp products

Chamber of Commerce says regulated cannabis industry needs help competing with illicit market

The B.C. Chamber of Commerce wants the province to "modernize" recreational cannabis by, among other things, allowing app-based delivery of products from private retailers.

A new report from the chamber says B.C.'s recreational pot industry is missing out on opportunities with present regulations.

The chamber makes 13 recommendations for rules around retail and delivery, licensing and taxation of cannabis businesses.

"Implementing the ... recommendations will unlock billions of dollars in private sector investment," Fiona Famulak, the chamber's president and CEO, said in a statement.

Tue
18
Jan

Is 2022 The Year The Canadian Cannabis Industry Finally Starts To Hit Its Growth Phase?

canadian cannabis flag

Although recreational cannabis has been legal in Canada for three years, the market continues to face challenges. 

Municipal bans on cannabis brick-and-mortar retailers in Canadian provinces have slowed down the growth of the industry by forcing consumers to drive long distances to municipalities that have a large number of cannabis brick-and-mortar storefronts.

The decision to ban the opening of cannabis retail stores has benefited the illicit market and we hope to see a decrease in the number of municipalities that have banned the opening of cannabis retail stores in 2022. (Click Here for full article)

Mon
17
Jan

Sundial Growers Stock in 2022: Skyrocket or Crash?

stock numbers

This year will be a big test for cannabis company Sundial Growers (NASDAQ: SNDL). With one recent acquisition closed and another that could be complete in the next few months, the business is undergoing some significant changes that will likely dictate the direction of its share price this year.

In 2021, its stock was up over 400% at one point and ended up finishing the year with a 22% gain -- far better than the Horizons Marijuana Life Sciences ETF, which fell 19%. Can Sundial continue to outperform the broad marijuana index, or will 2022 be a tougher year for the stock?

Why its shares could skyrocket

There are multiple scenarios where I can see Sundial having a great year.

Mon
17
Jan

Study Sheds Light On Consumer Delta-8 THC Perceptions

scientific diagram

University at Buffalo and University of Michigan researchers have published papers based on a survey of more than 500 participants’ experiences with delta-8-THC.

Delta-8 THC is cannabinoid that can be created by manipulating cannabidiol (CBD) extracted from legally grown hemp. As with the more commonly known delta-9-thc, delta-8 has intoxicating attributes. It’s a relatively new THC kid on the block and lawmakers in various US states have been grappling with how to deal with its popularity given its sale exploits a perceived loophole in federal laws. Some states have banned it and others have introduced specific regulations; while others are yet to make a move either way.

Mon
17
Jan

Capitalizing on CBD

CBD drops

It appears Pakistan may soon be entering the lucrative and growing global cannabis industry. Prime Minister Imran Khan’s government announced late last year that it would allow for the industrial production of hemp, a cannabis plant containing cannabidiol (CBD) that many experts believe has numerous therapeutic benefits and is generally sold in the form of gel capsules, gummies, oils, supplements, and extracts.

Fri
14
Jan

Lifeist Wellness' Cannabis 2.0 Roilty brand wins Canadian LP brand of the year award at 2021 ADCANN Awards

Lifeist

The win comes only months after the initial launch by Lifeist’s wholly-owned subsidiary Cannmart Inc, and the launch of sister company CannMart Labs Inc

Lifeist Wellness Inc has announced that its Cannabis 2.0 consumer-focused house brand Roilty has won the Canadian LP Brand of the Year award at the 2021 ADCANN Awards. 

The company said the annual industry awards, which are voted on by both industry peers and the public and saw over 100,000 votes cast nationwide, celebrate the best in marketing and advertising across Canada’s cannabis industry. 

Fri
14
Jan

Tilray rally fades as investor doubts about pot stocks prevail

phone

Canadian cannabis titan Tilray Inc. fell for a third straight day, surrendering much of a rally posted earlier this week after earnings that were buoyed by acquisitions and a rebranding -- moves aimed at strengthening its global reach in the face of stiff competition at home.

Canada’s marijuana-market leader is still up about 4% this week after the shares jumped 14% Monday, when it reported better-than-expected results and said it was repositioning itself as a global consumer packaged-goods “powerhouse.” Demand for its cannabis brands, craft beer and hemp products boosted profits, the company said.

Fri
14
Jan

Aurora Cannabis announces new director and updates to the board

Aurora logo

Aurora Cannabis Inc. (the “Company” or “Aurora”) (NASDAQ: ACB) (TSX: ACB), the Canadian company defining the future of cannabinoids worldwide, announced today the appointment of Chitwant Kohli to the Company’s Board of Directors (the “Board”), effective today. This is a newly added position that expands the Board to nine members, seven of whom are independent.

Fri
14
Jan

High Tide opens 107th marijuana store in Canada with new Canna Cabana location in Regina

high tide logo

The retail-focused marijuana company High Tide Inc. HITI (FSE:2LYA) announced Friday that its Canna Cabana store in Regina, Saskatchewan has begun selling recreational cannabis products. The store is located at 155 Albert Street North, which is a major north-south thoroughfare and commercial corridor in Regina, Saskatchewan’s capital and second-largest city. 

This opening represents High Tide’s 107th branded retail location across Canada and 7th in Saskatchewan to sell adult-use cannabis products and accessories. (Click for Benzinga article)

Fri
14
Jan

Hygrovest significantly outperforms dip in Canadian cannabis market, looks to diversify with new investments

market

Hygrovest has weathered a decline in the Canadian cannabis market with outperforming assets, but now looks to reduce risk by diversifying assets into non-cannabis sectors following approval for a broadened investment mandate at the company's AGM.

Hygrovest Ltd (ASX:MMJ) has significantly outperformed a declining Canadian cannabis market, the investment holding group’s net asset value (NAV) decreasing just 13% compared to a 46% decline in the benchmark over the same period. 

The specialist investment company is now looking to close the 61% gap in its share price to NAV ratio by working with its largest investment, Weed Me, to achieve liquidity during 2022 and realising underperforming or illiquid investments. 

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