Marijuana Business News

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business
Tue
16
Mar

Head of Ontario's pot business to step down, search underway for replacement

The head of Ontario's cannabis business plans to step down later this month, the third such departure in as many years, as the Crown corporation announces it will conduct a national search to find a new leader to oversee the organization. 

The Ontario Cannabis Retail Corporation (OCRC), which oversees the Ontario Cannabis Store e-commerce site and the province's wholesale marijuana distribution, said that interim Chief Executive Officer Thomas Haig plans to leave his role, effective March 23. 

Mon
15
Mar

There’s a surplus of hemp in the market. What happens in 2021?

Once the 2018 Farm Bill decriminalized hemp cultivation at the federal level, growers of everything from canola to tobacco started seeing green in the idea of dedicating acreage to the cannabis plant—which, as the source of cannabidiol (CBD), also happens to be the source of one of the most hyped botanicals to hit the health-and-wellness sector in years.

But as often occurs when entrepreneurial spirits rush in to satisfy what they suspect will be stratospheric demand, these newly minted hemp farmers overshot the mark and grew more hemp than the market could absorb.

Mon
15
Mar

Moncton cannabis 'centre of excellence' to result from $221M Organigram stock deal

A centre of excellence focused on developing new cannabis products is planned in Moncton as part of a tobacco company's purchase of a nearly 20 per cent stake in Organigram.

Organigram announced Thursday that the centre of excellence, focused on "developing the next generation of cannabis products with an initial focus on CBD," will be located at the company's indoor facility in Moncton.

 

It's part of a deal with British American Tobacco, which purchased $221 million in Organigram stock as it looks to diversify its existing line of cigarette and tobacco products.

Fri
12
Mar

Why These Marijuana Stocks Blasted Higher Today

What happened

Many marijuana stocks saw market-crushing gains on Thursday.

These included Aphria (NASDAQ:APHA), with a 12% jump, HEXO (NYSE:HEXO) climbing 11%, and Aurora Cannabis (NYSE:ACB) and cannabidiol (CBD) specialist Charlotte's Web Holdings (OTC:CWBHF) both shooting almost 8% skyward. Big news from a peer inspired those pops.

Fri
12
Mar

Customer Loyalty Programs Offer Clear Benefits for Cannabis Stores

Loyalty programs, long a staple of consumer marketing strategies, have found a place among regulated cannabis retailers in the United States and Canada. By offering perks such as discounts, points, special offers and new-product notifications, retail operators say loyalty programs can be a useful tool for:

  • Boosting basket sizes.
  • Increasing the frequency of customer visits.
  • Offering targeted marketing opportunities to age-verified shoppers, even when government regulations restrict marijuana promotions.

Offering those perks isn’t free, but loyalty-program operators say the benefits can easily outweigh the costs.

Fri
12
Mar

Cannabis Packaging Is Polluting the World

It’s not just the turtles and the fish we need to worry about, humans are now breathing in microplastics from all types of packaging. According to the lead researcher of a Utah State University study, microplastics are turning into dust and are contaminated with toxic chemicals, plastic fragments, and metals. These contaminants are in 4 percent of the air we breathe.

Fri
12
Mar

Cannabis Industry Fears Come True, Big Tobacco Invests In Organigram

The cannabis industry’s fear of big tobacco trying to elbow into the industry has finally come true with today’s announcement of a $175 million investment into Organigram Holdings Inc. (NASDAQ: OGI) from a wholly-owned subsidiary of British American Tobacco or BAT (NYSE: BTI). The BAT subsidiary has subscribed for approximately 58.3 million common shares of OGI, which represents a 19.9% equity interest on a post-transaction basis for total proceeds of approximately C$221 million (“Investment Proceeds”) at a price per share of C$3.792.

Fri
12
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
12
Mar

Growing cannabis at home: how COVID-19 has fuelled a boom around the world

Back in the days when “skunk” was mainly associated with Pepé Le Pew and hydroponics was a way of improving cucumbers, most of the UK’s cannabis supply was imported from places such as Morocco and Lebanon. This changed in the past two or three decades in the UK and many other countries as organised criminal gangs set up growing operations closer to home.

Thu
11
Mar

Setting Equal Standards For Women In The Cannabis Industry

Many women around the world were raised to believe “this is a man’s world.” And, to a certain extent, that was the case back then. But as society progresses, we have come to understand that men and women should — and need to be — equal, both in and outside the workplace.

However, challenges are far from behind us: women still endure challenging work-related situations, get little recognition and support from peers, and are often faced with high hurdles when it comes to professional growth. And much of this goes unspoken.

Thus, the question remains: How can we ensure that things change?

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