Marijuana Business News

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business
Mon
16
Sep

Is hemp a safer way to invest in the cannabis industry?

Profits have been elusive for many companies in the cannabis industry. With federal law making it impossible for companies to expand their operations across the U.S without either acquiring a company in another state or setting up an entirely new operation, it's been very difficult for costs to stay at manageable levels. The one workaround, however, has been for companies like Charlotte's Web (OTC:CWBHF) that have chosen a different route: hemp.

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

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.

Fri
13
Sep

2 cannabis stocks to watch this week

The marijuana stock market has shifted dramatically over the past few years. In that time, cannabis stocks have climbed to new heights, with the industry moving even closer to the future. Projections for the industry show the market reaching the triple-digit billions by the next decade or so. Although this might be a high expectation, even if the industry reached half that amount of growth, it would be very substantial.

Fri
13
Sep

New Ontario pot shop licences delayed until judge rules on disqualified applicants

The launch of the next wave of cannabis stores set to open in Ontario this October will be delayed after a provincial judge suspended the province’s regulator from issuing any new pot shop licences for two weeks.

Justice David Corbett said he will rule on Sept. 25 whether 11 disqualified cannabis retail lottery winners should resume the application process for a coveted pot shop licence in Ontario or let people on a waiting list take their place.

In an effort to avoid complicating the tangled nature of the lottery winner and waiting list process, all licences will be on hold until he can make a final ruling, the judge ruled. 

Fri
13
Sep

What CannTrust's new allegations of wrongdoing could mean for the industry

The CannTrust Holdings (NYSE:CTST) scandal just keeps on getting bigger.

Fri
13
Sep

Retailers left in a haze as new cannabis promotion rules announced

A hazy rollout of new rules surrounding the promotion of cannabis products has left some Edmonton-area retailers feeling perplexed.

Starting on Oct. 17, any public advertisement for cannabis products or retailers can legally have a surface area no larger than 300 square centimetres — though it remains unclear what exactly this restriction applies to.

For reference, the surface area of a standard piece of printer paper is just over 600 sq. cm.

Fri
13
Sep

Five pot shops within walking distance in downtown Toronto. What sets them apart?

If two’s a company and three’s a crowd, what does five make? When it comes to legal cannabis stores in Toronto’s downtown, that can only mean one thing: being spoilt for choice.

From the iPad-wielding budtenders to the mandatory “you shall not pass” ID checks, these five stores are located centrally downtown and within walking distance or accessible by transit.

Disguised as a potential first-time customer, a TGO team member went on a tour and was accompanied by Sandra Castillo, an account executive for Toronto-based PR and marketing company DECK Agency, which has no affiliation with any of the stores.

Canna Cabana

435 B Yonge St.

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