Marijuana Business News

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Wed
29
Sep

Tweed is closing 2 of its N.L. stores. Here's what's happening behind the scenes

Two Tweed locations in Newfoundland are closing after Cannabis NL — the recreational marijuana regulator of the Newfoundland and Labrador Liquor Corporation — optioned their expiring licences to competing company Atlantic Cultivation. 

The two affected locations are the shops on Water Street in St. John's and Broadway in Corner Brook. 

The NLC told CBC Radio's On The Go in an emailed statement the licences associated with the Water Street, Kenmount Road, and Corner Brook Tweed locations were part of Canopy Growth's production agreement with the province signed in 2018. Canopy Growth is the parent company of Tweed.

But production never took off.

Wed
29
Sep

Canada’s marijuana legalization provides lessons to the world on selling cannabis

In October 2018, Canada became the first G20 country to legalize the recreational use of cannabis. Over the past three years, the province of Ontario — to name just one Canadian jurisdiction — has moved away from having a significantly under-serviced retail market to one that is heavily saturated.

The Cannabis Act (Bill C-45) provided the rules and regulations around the production, distribution, sale and possession of cannabis. However, there are significant differences in each province’s and territory’s retail framework — private, public or hybrid — and the legal age for consumption, purchasing options and personal possession limits.

Wed
29
Sep

New pot shop proud of its Sudbury, Ont. roots

people standing outside a cannabis shop

Three local entrepreneurs are getting ready to take the cannabis industry by storm as they prepare for the official grand opening of their homegrown pot shot in early October.

Chad O’Reilly, Kosta Janicijevic and Bob Lamoureux founded Grassroots Co. three years ago with the goal of becoming the best cannabis retail store in Sudbury. (Photo by John Lappa, Sudbury Star)

Although it’s been a bumpy ride navigating Ontario’s early cannabis lottery system and the COVID-19 pandemic, the owners are eagerly putting the finishing touches on their rustic, earthy storefront that showcases their pride in the local community.

Wed
29
Sep

Hemp acres in recovery

farm field

Three years ago, hemp looked like it was getting set for a rocket ride.

Riding a contact high from the frenzy of attention around cannabis legalization, it looked like new markets ranging from health and wellness nutraceuticals to sustainable building materials were about to take off.

That was good news for a crop that, at least in Manitoba, was at the time being predominantly grown for grain.

Wed
29
Sep

Stand For Craft: How Canada’s Craft Cannabis Cultivators Are Pushing For Tax Reform

Pay your taxes here written on store window

It’s been just three short years since cannabis was legalized in Canada, but it’s already clear the nation’s exorbitant taxation on cannabis cultivators is not only unsustainable; it’s killing craft growers that are paying more in tax than they earn in margins. Earlier this month, Tantalus Labs CEO Dan Sutton outlined exactly how problematic Canada’s cannabis excise tax is, with small businesses paying as much as 30 percent of their top line revenues to it, in a Twitter thread. “We are milking a calf to death,” he wrote. The industry emphatically agreed, and since then, the conversation has evolved into a campaign to raise the issue with lawmakers.

Tue
28
Sep

Spyder Cannabis Provides Dispensary Update

woman vaping

Spyder Cannabis Inc. (TSXV: SPDR) (“Spyder” or the “Company”), an established Canadian cannabis and vape retailer, announced today that its wholly-owned subsidiary, Spyder Cannabis Subco Inc. (“Spyder Subco”), has received Retail Store Authorization (“RSA”) from the Alcohol and Gaming Commission of Ontario (“AGCO”) for its proposed cannabis dispensary located at 767 Taunton Road in Oshawa, Ontario.

Tue
28
Sep

Kiaro Revenue Up 55% In Q2-2022 To A Record $6.19 Million

money in back pocket

Kiaro Holdings Corp. (TSXV: KO) ("Kiaro" or the "Company") is pleased to announce its second-quarter financial results for the three and six months ended July 31, 2021 and 2020. With the closing of the acquisition of Sculthorp SEO Inc. on July 12, 2021, Kiaro created a new segment in reporting this quarter, and now reports on Retail, Wholesale, and eCommerce operations, all of which were profitable during the quarter. All amounts, unless specified otherwise, are expressed in Canadian dollars.

Tue
28
Sep

Big boost for retail, production in flux

marijuana leaf in a shopping cart

The real estate needs of Canada’s emerging cannabis sector are still shaking down as producers, processors and retailers mature.

While the retail sector grows rapidly and offers opportunity for retail property owners, the market for massive greenhouse production facilities has slumped. Processors of cannabis 2.0 products such as beverages and gummies are having to compete in the tight and increasingly costly industrial property sector.

The Canadian cannabis market is also developing unevenly as each province opens up its regulatory regime differently.

Nadia Vattovaz, chief operating officer for retailer Fire and Flower, says Alberta is moving toward maturity in the market more quickly than other provinces because it has a head start in opening up.

Tue
28
Sep

New Research Needed to Expand Future of Cannabis

CBD and cannabis

A recently released cannabis report indicates that new formulations will be needed to satisfy changing consumer styles and demands. The report from the EY Cannabis in Canada team outlines the rapidly changing cannabis landscape, and explains that the companies out there today need to stay active to be prepared for what’s ahead. “There’s so much possibility of how the cannabis plant can be used,” Joel Alden, a partner at EY Canada, told the Investing News Network (INN) in a phone interview.

Mon
27
Sep

Big Pot wants millions in corporate investment — some lawmakers are happy to help

marijuana plant

Last year, we saw pro-pot lawmakers attempt to load up any and every COVID-19 aid bill with marijuana industry wish list items. Though none of those attempts proved successful, they are back at it again.

Last week, Rep. Ed Perlmutter (D-Colo.) offered the SAFE Banking Act as an amendment to the annual military spending bill known as the National Defense Authorization Act, or NDAA. The NDAA is a must-enact defense spending bill that Congress has passed into law each year for 60 years in a row. Which renders Perlmutter’s move especially shady.

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