Marijuana Business News

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Wed
22
Sep

Leading Cannabis Innovator Sees 50% Growth in a Busy September

warehouse

In mid-September, the innovator of ethnobotanical and cannabis science products recorded a preliminary unaudited provincial wholesale sell-through in August 2021 of nearly $1.7 million.

This represents a 27% increase over the prior three-month average and puts year-to-date brand sales for the first eight months of 2021 at approximately $8.7 million compared to $6.7 million for all of 2020.

Driven by product line extension, new market expansion, and effective consumer marketing, the company noted that the wholesale sales for its retail brand, Phyto Extractions brand had reflected a strong affinity f or its products by Canadian consumers and retailers across the country.

Wed
22
Sep

Canada's Aurora Cannabis to shut down a facility in Edmonton

marijuana leaf

Aurora Cannabis Inc said on Tuesday it will shut down a facility in Edmonton, Alberta, adding to the woes of the cash-strapped Canadian pot producer which has been reeling under the impact of the pandemic since last year.

The company said medical distribution from the Aurora Polaris facility that is being shut down will move to an adjacent factory called Aurora Sky, while manufacturing will move to its Aurora River factory in Ontario.

"We aspire to be a leaner, more agile organization that keeps pace with our competition and is on a path to profitability," a spokesperson for the company said in an email statement.

Tue
21
Sep

Could This Little-Known Pot Stock Double Your Money?

stock trending up

 

There are many cannabis companies that are looking to be big players in the industry. And if you can find a small, relatively unknown marijuana stock that has plenty of growth potential, it could be an opportunity to double your money.

One stock that investors should have on their radars right now is cannabis retailer High Tide (NASDAQ:HITI). The Canadian-based marijuana company began trading on the Nasdaq on June 2. With exposure to the U.S. pot market, it holds an advantage over many other marijuana stocks that operate in just one country. Below, I'll look at whether this is a business you should consider investing in today.

Tue
21
Sep

Saint Regis Mohawk Tribe taking applications for cannabis retail licences

The Saint Regis Mohawk Tribe (SRMT) in New York is hoping the issuing of Tribal Cannabis Retail Licences will lead to the establishment of a legal industry, which will then, in turn, fund local essential services, such as education and elder support.

The tribe first announced in July that it would allow for local entrepreneurs to grow and sell their own cannabis plants and products. That news came after the state of New York legalized the recreational use of cannabis earlier in March. It’s not expected to issue retail licences for another 18 months to sell cannabis, however.

Tue
21
Sep

MMJ Group receives offer for its investment in cannabis extraction company Embark Health

MMJ Group Holdings Ltd (ASX:MMJ, OTC:MMJJF) has given its tacit agreement to an offer from BevCanna Enterprises Inc to acquire its investee Embark Health.

Embark Health is a Canada-based cannabis extraction business that has been making solid strategic business progress throughout 2021 as it eyes off a public listing, while BevCanna is a health & wellness beverage and natural products business listed on the Canadian Stock Exchange.

MMJ’s investment in Embark consists of shares and the current value stands at approximately C$2.4 million. MMJ expects that its share of the deal would approximate the current book value of its investment.

Tue
21
Sep

BDSA Reports Global Cannabis Sales Surge 41% YoY in 2021; Will Surpass $62 Billion by 2026

Canadian money

 BDSA announced today an update of its cannabis market forecast, a five-year rolling global forecast by country, state, province, channel, and category. Cannabis sales for 2021 will near $31 billion, an increase of 41% over 2020 sales. Further, BDSA forecasts global cannabis sales to grow from $30.6 billion in 2021 to $62.1 billion in 2026, a compound annual growth rate (CAGR) of more than 15%.

“The cannabis industry continues to show exceedingly rapid growth, particularly within the U.S. market,” said Kelly Nielsen, Vice President Insights & Analytics, BDSA. “New markets, both medical and adult-use, are developing at a faster pace than observed in the past, and states are transitioning from medical-only to fully legal in a shorter time frame.”

Tue
21
Sep

TobaGrown will join Quebec's Supreme Court Appeal, while continuing their lawsuit against the Manitoba Government's ban on home-grown cannabis

woman lawyer

Quebec's Court of Appeal agreed with the Quebec Government's ban on home-grown cannabis. This reversed the previous Superior Court ruling in 2019 which said the Quebec Government's ban on home-grown cannabis was a violation of federal law.

"A provincial government that denies its citizens the right to grow their four federally legal cannabis plants is on a slippery slope to removing other personal freedoms," said Dr. Av Singh, one of TobaGrown's expert witnesses.

The outcome of Quebec's lawsuit will hold substantial weight in the similar case in Manitoba, where Jesse Lavoie started the "TobaGrown Movement" and filed a lawsuit against the Manitoba Government's ban on home-grown cannabis in August 2020.

Tue
21
Sep

Cannabis production company Tilray closing its offices, facility in Nanaimo, B.C.

cannabis growing indoors

Cannabis company Tilray Inc., which merged with Aphria Inc. earlier this year, says it will close a Nanaimo, B.C., office and facility. The company says in an email that it is closing the facilities to optimize operational efficiencies and save costs following the merger. The company did not share how many workers will be impacted by the closures, but says it will work with those interested in opportunities at its Broken Coast facility on Vancouver Island. Tilray says the closure will roll out in phases and is expected to be completed by next spring.

Tilray's website shows that the Nanaimo facility was home to a grow room, vault, trimming room, extracts lab and packaging operations.

Mon
20
Sep

Delta 9 continues retail expansion with sixteenth cannabis retail store

cannabis store

It said the new store is 3,200 square feet and is located at 2081 Pembina Highway in the Southwest corner of Winnipeg, the focal point for over half a million square feet of retail businesses making it one of the city’s larger shopping destinations

Mon
20
Sep

Heritage Cannabis Announces First Opticann CB4 Medical Product Launches in Canada and Canadian Product Website

marijuana leaf

Heritage Cannabis Holdings Corp. (CSE: CANN) (OTCQX: HERTF) (“Heritage” or the “Company”), is pleased to announce that Opticann, the medical brand and subsidiary of Heritage, is launching its first suite of CB4 branded products and has launched Opticann.ca in Canada. Backed by evidence, the CB4 products enable Heritage to develop a broader medical market with CB4 branded products offered on multiple medical platforms in Canada. “We are excited to introduce our revolutionary CB4 suite of medical products to Canada that are backed by objective scientific data that speaks to their superior performance and come in convenient dosage forms familiar to most medical patients - oral, topical and sublingual.”

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