Marijuana Politics

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Mon
30
Sep

Ontario explores end of wholesale cannabis business: Sources

Ontario is exploring the possibility of no longer running the province’s wholesale cannabis distribution business, according to several people familiar with the matter, a move that could substantially lower prices of legal pot in the province. 

Ontario, which is Canada's biggest market for legal pot, will begin consultations with various industry members to pursue a Saskatchewan-like distribution model where licensed cannabis producers will ship directly to retailers, the sources said. An announcement could come as early as next week, the sources added. 

Mon
30
Sep

U.S. pot banking bill may hurt Canada exchanges

The advancement of the SAFE Banking Act indicates it won’t be long before U.S. stock exchanges open up to cannabis listings, a potential blow to Canadian bourses that have carved a lucrative niche for pot.

The U.S. House of Representatives voted 321-103 last week in favour of the Secure and Fair Enforcement Banking Act, which would allow banks to do business with legal cannabis companies. Currently, the industry is forced to conduct many transactions in cash because of its lack of access to the banking system.

The bill now faces the more difficult hurdle of the Republican-controlled Senate, but most industry analysts believe a version of it will pass by next year.

Mon
30
Sep

Feds' foot-dragging over cannabis edibles will delay sales, says producer

Federal red tape and foot-dragging on approving makers of edible cannabis will see months-long delays in the products reaching stores, a Calgary chocolatier said Thursday.

A spokeswoman with Alberta’s cannabis regulator also voiced frustrations about the process.

City businessman Brad Churchill said he’s been waiting for a licence allowing him to infuse chocolate with cannabis at his Calgary factory since applying for it in late July.

The owner of Choklat said he received a reply from Health Canada but no licence this week, and fears the time it takes to receive it and approval for such things as packaging will push back the actual sales date for his products to March or April.

Fri
27
Sep

Canada’s current cannabis blues highlighted by third suspension

A third Canadian cannabis company has had its trading licence suspended following the recent fiasco with Ontario-based producer CannTrust.

Evergreen Medicinal Supply’s licence to grow and sell cannabis has been suspended by Health Canada, following an inspection of the British Columbia firm’s facilities in August, reports BNN Bloomberg.

It reports a Health Canada spokesperson as saying the suspension is a result of non-compliance, and designed to ‘protect public health and safety, including preventing cannabis from being diverted to the illegal market’.

Thu
26
Sep

Marijuana Legalization: House Passes SAFE Act in US

Imagine operating a legitimate marijuana business in the US without banking support. You couldn’t accept card payments or wire money to your suppliers. Paying employees or tax through your banking account would also be out of the question.

The above is an unfortunate reality for legitimate cannabis businesses operating in the US. They have no choice but to conduct business in cash. According to Bloomberg, states that have legalized recreational cannabis collected $1.3 billion in related tax last year, and are expected to collect $1.9 billion this year.

Thu
26
Sep

Ontario judges delay decision on disqualified pot shop applicants to Monday

A panel of three Ontario judges have pushed their decision on whether a group of disqualified cannabis store applicants should return back to the application process to next Monday. 

The ruling, which came after a two-week wait that delayed the opening of new cannabis stores in the province, came after a full day of deliberations between lawyers representing the Alcohol and Gaming Commission of Ontario, 11 disqualified candidates and another 11 people on a waiting list. 

The ruling will be released Sept. 30, no later than 5 p.m. ET, a panel of judges at the Ontario Divisional Court in Toronto said. The presiding three-member judicial panel consisted of Justice David Corbett, Justice Katherine Swinton and Justice Robbie Gordon. 

Wed
25
Sep

Case of 11 disqualified Ontario pot shop licence applicants in court today

An Ontario court is expected to hear the case today of 11 people who won the chance to apply for a cannabis retail licence only to be disqualified shortly afterwards.

The applicants are requesting a judicial review of their rejection, as well as the procedures involved in the lottery that has been used to grant all Ontario’s pot shop licences.

The Alcohol and Gaming Commission of Ontario said in August the group had missed a deadline in the application process but the group says that’s not the case.

Earlier this month, a Toronto judge paused the licensing process for the latest round of cannabis stores until the case is resolved.

Lawyers representing the commission had contested the stay, saying it would interfere with the integrity of the lottery system.

Wed
25
Sep

Canada has sold this much marijuana since its Legalization Day

According to pretty much every Wall Street analyst and independent report, legal marijuana is the next great growth trend. Sales of legal weed have more than tripled on a global basis since 2014 to $10.9 billion, and are on pace to gallop higher by five to 18 times current levels by the end of the next decade, based on a variety of Wall Street projections.

Tue
24
Sep

Difficult market for the cannabis industry is challenging all in insurance

Following the first round of legalization in Canada last October, the insurance appetite around cannabis has resulted in what some characterize as a tight marketplace. In fact, one expert calls it “difficult” because of the limited players in the market, many of whom are using the same capacity.

Tue
24
Sep

A campaign promise kept: Canada’s modestly successful cannabis legalization

The anniversary of Canada’s recreational cannabis legalization arrives Oct. 17, just days before the federal election. Legalization was a Liberal campaign promise from the last election, so it’s timely to review how it’s worked out.

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