Alberta

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Thu
04
Feb

The most Canadian-sounding company ever closes financing to complete build-out of huge hemp processing facility

Canadian Rockies Hemp Corporation (CRHC) has plans to make the small town of Bruderheim, Alta. into a very big thing when it comes to industrial hemp processing.

With a population of 1,308 in 2016 — having soared to that level from 1,155 just five years earlier — Bruderheim is the home of CRHC, an agribusiness focused on processing hemp at scale for industrial use outputs.

Fri
29
Jan

Cannabis gift cards now available at convenience stores in Ontario, Alberta and Saskatchewan

Almost 300 Circle K stores across Canada are now carrying cannabis gift cards, cannabis retailer Fire & Flower announced in a press release.

The gift cards are available in denominations of $25 to $100, and are redeemable at any Fire & Flower location and online for ‘click and collect’ orders.

Thu
28
Jan

Canadian Circle K Stores Now Carrying Cannabis Gift Cards

Canada is already miles ahead of the U.S. when it comes to federal legalization of cannabis, something America is still weighing and discussing, and now Canada has taken another step towards normalizing cannabis by offering gift cards in some Circle K locations. 

Tue
19
Jan

Alcanna to spin off retail arm to YSS with focus on cheaper pot

Alcanna Inc. said Monday it is spinning off its cannabis retailer division and merging it with YSS Corp. in an all-stock deal that would value the combined company at about $130 million. 

The new company is expected to be renamed Nova Cannabis Inc. and will rebrand most of its retail footprint to Value Buds, a move that acknowledges the growing demand for cheaper cannabis in the Canadian recreational market. 

"This new offering, new Nova Cannabis, is really laser-focused on a segment of the marketplace that's proven to exist -- and that's the value-conscious consumer," said Darren Karasiuk, who will be the chief executive officer of the combined company and is a former chief commercial officer for Aurora Cannabis  Inc., in a broadcast interview. 

Fri
18
Dec

Mark Messier sues Edmonton businessman over $500K investment loss

image of Mark Messier speaking to a crowd

EDMONTON -- Former Edmonton Oilers captain Mark Messier is suing an Edmonton businessman, alleging he lost more than half a million dollars in an Alberta cannabis company investment.

Messier, 59, is seeking damages from Ed Moroz, the CEO of Edmonton area-based Destiny Bioscience, according to court documents filed in November in New York state.

The lawsuit claims Moroz broke a personal guarantee that promised Messier wouldn’t lose money after the former hockey star’s holding company bought 400,000 shares of Destiny at a price of $500,000.

“Moroz also repeatedly solicited Messier’s investment and represented that the investment was a sure thing -- Messier could not lose money on it,” reads the lawsuit. 

Fri
04
Dec

Stock slide after Sundial Growers files shelf for up to $200 million in securities.

Sundial Growers Inc. SNDL, -7.45% has filed a shelf registration to issue up to $200 million in securities. The Canadian cannabis company said it has also filed a preliminary prospectus supplement for a new at-the-market equity program for up to $150 million of its common shares.

Proceeds will be used to pay down debt, to finance possible acquisitions or invest in equipment, facilities and for general corporate purposes. U.S.-listed shares of Sundial, which once had a $1 billion valuation, were down 16% premarket at 64 cents. The stock has fallen 74% in 2020 to date, while the Cannabis ETF THCX, 0.51% has gained 9% and the S&P 500 SPX, 0.65% has gained 13%.

Wed
02
Dec

Indigenous group explores past and present with study of cannabis as First Nations medicine

For far too long, researchers have used marginalized populations as the subjects of their work. Henrietta Lacks is among the most well-known examples. She was a young African American mother of five, whose cancer cells were immortalized in service to science, without the benefit of her knowledge or consent.

Unfortunately, this abuse of power is far from an isolated incident. In Canada, our own shame includes medical experiments conducted on the vulnerable children who attended residential schools.

Wed
18
Nov
Wed
14
Oct

Province lifts limits on cannabis store ownership

Alberta’s limit on cannabis shop ownership to 15 per cent of the province’s total number of stores is going up in smoke.

On Nov. 1, the cap imposed by the former NDP government, which also set a maximum number of outlets owned by a single entity at 37, will disappear.

Two years into recreational marijuana legalization, the fledgling market is mature and stable enough to allow a move to reduce bureaucracy and enhance competition, Alberta Gaming, Liquor and Cannabis (AGLC) said in an email.

“Removing the ownership cap is part of government’s red-tape reduction strategy aimed at creating new opportunities for businesses in Alberta and removing unnecessary regulatory barriers,” it said.

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