Marijuana Politics

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Tue
17
Sep

B.C. pot firm Evergreen Medicinal’s licence suspended by Health Canada

British Columbia-based cannabis producer Evergreen Medicinal Supply Inc.’s licence to grow and sell marijuana was suspended by federal regulators, the latest compliance shortfall to hit Canada’s legal pot market.

Health Canada spokesperson Tammy Jarbeau confirmed to BNN Bloomberg in an email that the government agency suspended Evergreen’s ability to “cultivate, process and sell dried and fresh cannabis, cannabis plants and cannabis seeds” in August following an unannounced inspection that led to a non-compliance order on the company.

Tue
17
Sep

Home growers take on corporate cannabis in Canada

In October 2018, Canada legalized cannabis for adult use nationwide. Under Canada’s Cannabis Act, adults are allowed to cultivate up to four cannabis plants per household, either indoors or outdoors. Now, almost a year into legalization, more Canadians are taking advantage of this freedom — and are pushing to expand it. 

Take, for example, a nursery in the small town of Petitcodiac, New Brunswick that decided to hold a workshop on home cannabis cultivation last week. They were overwhelmed by the turnout and had to find a bigger venue at the last minute.

Tue
17
Sep

Pasha Brands critical of post-prohibition cannabis enforcement

Pasha Brands Ltd. (“Pasha“) (CSE: CRFT) (OTC:CRFTF) (FSE:ZZD), Canada’s largest craft cannabis brands organization, released a statement today asking for the full expungement of criminal records for those charged under previous cannabis laws. Canada is one of the first countries to admit that prohibition has been a failure and been harmful for people and its economy on a variety of levels.

Mon
16
Sep

Quebec cannabis stores report $1.4 million in net income during second quarter

The Société québécoise du cannabis, Quebec’s online and storefront cannabis sales network, posted a net income of $1.36 million for the 12-week period that ended on June 22, based on total sales of $45.1 million.

In a report published on Friday, the SQDC revealed that its storefront branches proved to be vastly more popular than its websites during that period. According to the report, SQDC branches boasted sales of $39.5 million, compared to $5.6 million generated by the websites. In terms of quantity, the SQDC branches sold 5,512 kilograms of cannabis, while 752 kilograms were sold through the websites.

Mon
16
Sep

Cannabis sector sees its first fraud case as OSC alleges misuse of investor funds

The Ontario Securities Commission is mounting its first fraud case in Canada’s cannabis sector.

In a statement of allegations made public Friday, the regulator alleges that investor funds raised by Canada Cannabis Corp. were “misused.”

In addition, three individuals involved with the firm are accused of making misleading statements in communications with investors.

None of the allegations against Canada Cannabis, Benjamin Ward, Silvio Serrano and Peter Strang have been proven. An initial hearing is scheduled to take place Sept. 30 in Toronto.

The OSC says Canada Cannabis raised about $3.2 million and US$8.8 million from about 125 investors — about half in Ontario — between 2014 and 2016.

Mon
16
Sep

The Biggest Risk of Marijuana Legalization 2.0

Marijuana is poised to be one of the fastest-growing industries on the planet over the next decade. Worldwide sales have more than tripled to $10.9 billion over the last four years, and they could grow as much as 18-fold over the next decade, if investment bank Stifel's global sales estimate comes to fruition.

Mon
16
Sep

Legal edibles, other derivatives should add 3 million consumers to cannabis market

The second great Canadian cannabis rush is nearing the starting line, with pot entrepreneurs looking to stand out amid an onslaught of soon-to-be-legal edibles on the market.

Legal cannabis edibles and other derivatives are expected to grow Canada’s cannabis market by three million consumers, or 65 per cent, according to a poll commissioned earlier this year by a leading industry data collector.

The survey, conducted with 3,000 respondents last May by Lift & Co. and Ernst and Young, suggests the country’s 4.6 million adult cannabis users will grow to about 7.6 million after a wider variety of non-smokable licensed products go on store shelves at year’s end.

Mon
16
Sep

Ontario’s cannabis business posts $42-million loss in last fiscal year

Ontario said its government-owned cannabis business lost $42 million in the last fiscal year, while the province collected barely half the amount of excise taxes it estimated it would generate, in the latest symptoms of a shaky start to legalizing recreational pot in Canada’s most populous province.

The Ontario Cannabis Retail Corporation, a crown corporation that operates the Ontario Cannabis Store’s online retail business and sells wholesale cannabis to the province's private retail stores, generated $64 million in the fiscal 2018-2019 year, according to public accounts released on Friday.

Mon
16
Sep

OxyContin maker Purdue Pharma files for bankruptcy as part of opioids settlement

Purdue Pharma, the company that made billions selling the prescription painkiller OxyContin, filed for bankruptcy in White Plains, New York, days after reaching a tentative settlement with many of the state and local governments suing it over the toll of opioids.

The filing was anticipated before and after the tentative deal, which could be worth up to $12 billion over time, was struck.

Mon
16
Sep

Manitobans weigh in on debate over flavoured e-cigarette ban

As health professionals try to understand how vaping products might trigger severe lung injuries, there are new calls for a ban on thousands of candy and dessert-like e-cigarette flavours that attract young people.

It's something Josh Halpern understands. He started vaping several years ago and his favourite flavour is lime.

"They just taste good, they don't taste like a cigarette, you know?" the 33-year-old Winnipegger said.

"If there was no flavours or nothing that tasted good, I'm sure kids wouldn't want to do it in the first place."

A 2015 study found more than 80 per cent of underage teens who use e-cigarettes started with flavoured vape juice.

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