Marijuana Business News

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Tue
30
Mar

48North Cannabis lays off 20% of staff, cuts outdoor facility

48North Cannabis Corp. will lay off about 20 per cent of its staff as it ends outdoor cultivation at an Ontario facility.

The cannabis company's CEO Charles Vennat says the layoff impacts about 26 staff and comes as 48North immediately ceases operations at its Good Farm outdoor cultivation facility in Brant County, west of Hamilton.

The company described the closure as an important step toward profitability and when coupled with decreasing its cash use, said it will result in annualized savings of at least $5 million.

The Good Farm cut leaves 48North dependent on strategic partnerships with licensed producers and on DelShen, an indoor facility it keeps in Kirkland Lake, Ont.

Tue
30
Mar

Solving the cannabis 2.0 product challenge

The growth in demand for cannabis health and wellness, personal care, and non-smokable products is a positive sign, validating the commercial promise of legalization of adult-use cannabis. Yet, when we look at the legal offerings available, Canadians face a modest array of products. While the initial cannabis beverage offerings are impressive, limited selections of edibles and topicals speak to the challenges of developing new cannabis products.

Mon
29
Mar

Village Farms International Inc (NASDAQ:VFF) Posts A Growth Of 43% In Revenues In Q4 2020

image representing money growth for plants

Village Farms International Inc (NASDAQ:VFF) reported revenues of $47.4 million (up 43% YoY) in Q4 2020. 

Completes the takeover of Pure Sunfarms

Village Farms acquired a 41.3% stake owned by Emerald Health Therapeutics, Inc in Pure Sunfarms on November 2, 2020. As a result, the company owns 100% of Pure Sunfarms and realizes its income.

Pure Sunfarms reported a sequential growth of 28% and YoY growth of 248% in retail branded sales. The company reported revenues of CAD 15.5 million in Q4 2020. 

Village Farms Clean Energy, Inc, a subsidiary of Village Farms International, renewed the existing contract agreement with Vancouver City. 

Mon
29
Mar

Cannabis Stock Watchlist: New York, Aphria, Sundial Growers

stock charts

See how cannabis stocks like Sundial Growers, Trulieve and Tilray performed last week after New York agreed to a deal to legalize marijuana use.

The cannabis sector was down this past week as investors turned their backs on speculative stock plays and looked at reopening stocks to buy as the U.S. gets closer to fully reopening its economy.

Cannabis stocks received a boost this past week when New York agreed to a deal to become the 16th state to legalize recreational marijuana. 

Cannabis stocks were pointing towards starting the week higher with the benchmark ETFMG Alternative Harvest ETF  (MJ) - Get Report rising after closing out Friday's session down 0.4%. Shares are down Monday.

Mon
29
Mar

48North Cannabis Corp. Announces Changes to Operations

marijuana plant

TORONTO, March 29, 2021 /CNW/ - 48North Cannabis Corp. ("48North" or the "Company") (TSXV: NRTH) a vertically integrated licensed producer focused on manufacturing high-quality cannabis products and building progressive and thought-provoking brands, announced today changes designed to streamline its operations and further improve margins.

Mon
29
Mar

US Legalization on the Horizon as Lawmakers Bringing Cannabis Reforms to the Senate Floor

marijuana bud

VANCOUVER, BC, March 29, 2021 /PRNewswire/ -- USA News Group - The drumbeat towards cannabis legalization is growing louder, as US lawmakers early in 2021 are signalling increasing openness to the market. In early February, multiple US Senators issued a joint statement announcing that marijuana reform bills would be merged as Congress moves toward some form of federal cannabis legalization. By mid-March, cannabis stocks surged after New York's Governor said his state was 'very close' on legalization. So far the momentum has impacted the share prices of several cannabis stocks of all sizes, including MYM Nutraceuticals Inc. (OTCQB:MYMMF) (CSE:MYM), OrganiGram Holdings Inc. (NASDAQ:OGI) (TSX:OGI), Cronos Group Inc. (NASDAQ:CRON) (TSX:CRON), HEXO Corp.

Fri
26
Mar

3 Canadian Licensed Producers With Assets Ready To Capitalize On The U.S. Cannabis Market

Read entire article at Technical420

In the early months of the COVID pandemic, many people questioned the future of the cannabis industry. After the sector was declared to be an essential industry, many US operators were able to breathe a sigh of relief.

The US cannabis sector will come out of the pandemic stronger than ever as many operators were able to cut expenses as e-commerce cannabis sales remain higher than pre-pandemic levels. When you combine lower expenses with several new medical and recreational cannabis markets, you have a recipe for success and we are bullish on the direction the industry is heading. 

Fri
26
Mar

What Does 2021 Have in Store for the International Cannabis Industry?

One of the only bright spots in 2020 was the emerging cannabis industry. Whereas the ongoing global pandemic has negatively impacted virtually every other industry on earth, the legal international cannabis industry has powered forward.

According to data firm BDSA, spending on the legal cannabis industry is expected to top $20 billion in 2020, up from an estimated $14.8 billion in 2019. To put that number into perspective, the international music organization IFPI estimates that the entire global music industry is worth roughly $20 billion dollars, and unlike the music industry the cannabis industry has plenty of room for growth.

Fri
26
Mar

Governments taking a ‚Äėconservative‚Äô approach to cannabis marketing, but may need to take a page from alcohol‚Äôs book

Provincial governments in Canada have adopted a ‚Äúconservative‚ÄĚ approach to the branding behind cannabis legalization that‚Äôs likely not as effective as it could be, suggest researchers from the University of Alberta (U of A). The apparent ambivalence regarding weed marketing has almost extended to a ‚Äúdemarketing‚ÄĚ strategy,¬†according to¬†Folio, the U of A‚Äôs brand journalism site.

‚ÄúOur initial expectation was that governments would be competing fairly effectively with either the private sector or the illicit market,‚ÄĚ notes Kyle Murray, study co-author and acting dean of the Alberta School of Business.

Wed
24
Mar

The Year Of Cannabis Industry Consolidation

In a budding industry, every year seems to possess a distinct significance. As someone who has traversed the globe advising on all things cannabis for more than a decade, I can confidently say that no two years have been the same. New patterns and market fluctuations come and go rapidly - a fairly common occurrence as a nascent industry builds its foundation.

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