Marijuana Politics

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Wed
20
Nov

Securities regulators toughen governance disclosures in cannabis industry

 

Securities regulators in several provinces published guidance this month pushing stronger governance-related disclosures on the cannabis industry.

The guidance — from regulators in Ontario, British Columbia, Quebec, New Brunswick, Saskatchewan, Manitoba, and Nova Scotia — is aimed at governance-related disclosures, particularly in the context of mergers, acquisitions and other significant corporate transactions.

Wed
20
Nov

Looking out for the little guy: B.C. tries to help small growers go legit

Cannabis growers in the B.C. are getting some help to transition out of the black market as part of a newly announced program that could see participants qualify for loans of up to $500,000.

B.C.’s Ministry of Social Development and Poverty Reduction has set aside $675,000 to help an estimated 2,500 small growers join the legal cannabis industry. The money will be disbursed through the Community Futures Central Kootenay, a non-profit organization focused on economic development.

Wed
20
Nov

Council takes back authority to oppose/endorse cannabis stores

Responding to a flood of critical emails after administration opposed the proposed downtown location of Windor’s first cannabis store, councillors have voted to decide future applications themselves.

The vote was unanimous to reverse a Jan. 21 decision where council approved “opting in” to hosting retail cannabis stores but also delegating authority for city planner Thom Hunt to gather input from various departments and come up with a position on individual applications. That was done because there’s only a 15-day window for comments to be made to the Alcohol and Gaming Commission of Ontario on an application and it was feared council couldn’t render an opinion on time.

Tue
19
Nov

Note to Drake: Canada’s swag rules can be confusing

Christmas is coming, but don’t expect any flashy giveaways from your favourite cannabis brand. The laws behind promoting cannabis in Canada are far too Grinch-like for that.

“Much like alcohol, we don’t want to encourage people to buy the product. So, the advertising is supposed to be really neutral,” Daniel Walker, a lawyer with Bobila Walker Law, told The GrowthOp.

An update of the Cannabis Act in October added clarification to the rules around promotional items. But it still can be confusing.

Tue
19
Nov

Odours from beef, lavender farms fail to raise the same stink among neighbours as planned cannabis operation in Ridgeway, Ont.

A 30-acre lot in Ridgeway, Ont. is set to become a brand-new cannabis farm, but not if locals can help it.

The property was sold earlier this year for about $600,000 after a few months on the market, with the intention of turning it into a production and cultivation facility for Greenherb Farms.

But as the land is prepared for farming — tall fencing installed and trees and brush cleared — outraged neighbours have formed a group. The group is circulating a petition to prevent the farm from taking root, citing concerns about odour, environmental destruction, traffic and historical value.

Tue
19
Nov

Is a cannabis policy change in New Brunswick good news for tech innovators?

A little over a year ago Canada legalized cannabis nationwide. Canada became the first G-7 nation to legalize cannabis for adult-use.

Uruguay is the only country to have legalized cannabis for adult use prior to Canada doing so, however, Uruguay’s model differs from Canada’s model.

Each province in Canada adopted its own regulatory framework in some aspects, with some provinces allowing robust competition between cannabis companies.

New Brunswick took a different approach.

The Monopoly New Brunswick Model

For the past year, a Crown corporation has served as the sole legal cannabis industry entity in New Brunswick.

Tue
19
Nov

Insurance costs a challenge for pot retailers, store owner says

Insurance is a steep cost for the new retail cannabis industry, says a central Alberta business owner.

Matt Panelli, co-owner of Lacombe’s Merry Guana, said it was difficult to get an insurance quote when he first started his business last fall.

He and his partner were only able to get quotes from two companies.

“The first quote we got was five times the amount a liquor store would pay for similar coverage, and the other one was two-and-a-half times,” said Panelli.

“So we have to pay two-and-a-half times what a liquor store pays, even though all of our product has to be stored in a vault that we had to build – it’s essentially like a bank vault.”

Fri
15
Nov

Top risks facing cannabis industry in 2020 not what you think

On the tail-end of what turned out to be an extremely risky year for cannabis companies, one must wonder what 2020 has in store for a quasi-legal industry that is contending with a vaping crisis, contentious politics at all levels of government and ongoing financial concerns.

Rocco Petrilli, chief operating officer and board chair of the National Cannabis Risk Management Association, a Pittsburgh, Pa.-based nonprofit, says the top risk worries for the group’s 2,000-plus members may not be what you’d expect

Slip-and-falls at a growing number of marijuana dispensaries? Finding affordable product liability insurance? An unusually cold winter ruining crops? Adequate quality control?

Fri
15
Nov

Regulations need to change for private retail cannabis to thrive, says prof

There was a chorus of concern and counsel Thursday from observers and critics of the provincial government's plan to turn Cannabis NB over to the private sector.

From inadvertently assisting the black market to creating a more competitive model, experts and MLAs say privatizing recreational cannabis raises a host of issues that must be addressed before the transition, which could take place early next year.

Finance Minister Ernie Steeves announced Thursday afternoon the province has issued a request for proposals for a single private operator to take over operation and sales from the Crown corporation.

Thu
14
Nov

‘Hard to fathom’: Disastrous cannabis rollout cost Ontario $325 million compared to Alberta: analyst

Mistakes were made.

Canadian provinces went their own way when establishing a legal framework for cannabis and some have found considerably more success than others.

The Cannalysts, an independent analysis firm, released data this week showing that if Ontario had followed Alberta’s model, the province would have stimulated an extra $325 million in economic activity. On a yearly basis, the analysis notes, the province is missing out on around $488 million more, in addition to $75 million in taxes.

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