Marijuana Business News

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Wed
24
Mar

New Brunswick Scraps Plan To Privatize Cannabis Industry

Canada is only one of two countries where cannabis is legal for adult use, along with Uruguay.

Uruguay was the first nation to legalize cannabis. However, its legalization model is more restrictive compared to Canada.

In Canada, the legal adult-use cannabis industry is open to anyone of legal age, whereas in Uruguay only residents can make purchases.

Within Canada, there are various sub-legalization models between provinces, with New Brunswick having a particularly unique industry model.

Tue
23
Mar

How to Grow a Successful CBD Business in 2021

The CBD market has always been a tough place to succeed. And companies experienced yet more hurdles in 2020, as a pandemic and an assortment of lawsuits gripped the industry.

In the face of such strong headwinds, it seems like it’ll also be hard for CBD businesses to grow in 2021. But it won’t be impossible. Despite obvious difficulties, the industry still provides opportunities for well-run companies to establish themselves and prosper.

There are several strategies companies can employ to develop a successful brand in this ever-changing market. But before discussing them, it’s important to understand the challenges that CBD entrepreneurs face.

Tue
23
Mar

New Brunswick weed retail rights no longer on selling block, as Cannabis N.B. model retained

The New Brunswick government has opted to pull back away from its search for a private company to take over the province’s cannabis retail, with the move attracting mostly support, but also a call to reset the current approach.

On Friday, the provincial government announced it had discontinued its request for proposal (RFP) process — which kicked off in the late fall of 2019 and was rumoured to be down to one serious suitor — for privatizing recreational cannabis retail in New Brunswick.

Mon
22
Mar

Why You Should Invest in Pot Stocks in 2021

The year 2020 was a good one for cannabis stocks, and 2021 is looking even better. Many investors find it hard to go all in on U.S. cannabis stocks, given that a lack of federal legalization keeps them from trading on the major exchanges. But these over-the-counter stocks have more room to grow as the cannabis industry is rapidly evolving.

Cannabis is still a nascent industry, but it's expanding fast. Buying and holding the right marijuana stocks for the long haul will help you capture that growth for your own portfolio. And there are some U.S. cannabis companies -- those with staggering revenue growth, rising and consistent profitability, and strong balance sheets -- that could bring exceptional profit.

Mon
22
Mar

Canadian pot sales tumble 5.6% in January as COVID lockdowns, ease on spending weigh on retailers

It was a sluggish start of the year for Canada's cannabis market as sales fell by more than five per cent in January from the prior month, according to Statistics Canada. 
 

Mon
22
Mar

The fast-growing cannabis industry has a big pollution problem

These are heady times for the cannabis industry.

Countries from Mexico to Norway are taking concrete steps towards decriminalizing the drug.

The biggest prize of all is the American market, where cannabis is now broadly legal in 15 states, and analysts believe the dominoes will keep falling.

With that liberalization of pot laws comes increased investment – but also a greater focus on the environmental cost of cultivation.

Fri
19
Mar

Cannabis entrepreneurs gear up for legalization

On any given day, more than a million dollars worth of cannabis products are on the move at the Nabis warehouse in Oakland, California.

Products like cannabis-infused chocolate bars and berry-flavored vape cartridges sit on the shelves, waiting for pick-up and shipping to dispensaries across the state. This movement of goods – facilitated by the Nabis’s own e-commerce platform developed for its wholesale business-to-business model – is being fueled by a surge in cannabis use during the COVID-19 pandemic.

Vince Ning, co-founder and CEO of Nabis said BEFORE the pandemic the company shipped about half of what it ships now.

Fri
19
Mar

Is It Bad For Big Alcohol And Big Tobacco To Help Shape Marijuana Legalization?

It might not take long before the deep pockets of Big Alcohol and Big Tobacco all of a sudden start swaying political opinion.

Marijuana advocates have done their best to keep the industry as pure and untainted by corporate crooks as possible. But like it or not, Big Alcohol and Big Tobacco have infiltrated the scene and are working with federal lawmakers to help shape policy geared toward nationwide marijuana legalization.

Seriously, several heavy hitters from the alcohol and tobacco trade recently launched a federal lobbying group to press the flesh of pot-friendly politicians on Capitol Hill and get marijuana laws passed in their favor. In other words, marijuana has been hijacked.

Fri
19
Mar

Canadian cannabis companies cheer SAFE Banking Act reintroduction in U.S. House

Canadian cannabis companies are cheering the reintroduction of the SAFE Banking Act to the U.S. House of Representatives today.

The act proposes offering safe harbour to financial institutions like banks and insurance companies, who provide services to cannabis businesses and has long been seen as helpful for Canadian pot companies looking to expand to the U.S.

The National Cannabis Industry Association says the bill was previously approved by the house in a 321-103 vote in September 2019 and then headed to the senate, but didn't move forward and had to be tabled again because of the COVID-19 pandemic.

Thu
18
Mar

Canopy Growth Signs Up For $750 Million Loan

Canopy Growth Corporation (NASDAQ: CGC) announced that it has entered into a credit agreement with Funds advised by King Street Capital Management, L.P. Under the Credit Agreement, the company has raised a $750 million in a senior secured term loan. Canopy also said it has the ability to obtain up to an additional $500 million of incremental senior secured debt pursuant to the Credit Agreement.

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