Marijuana Business News

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Fri
22
Mar

Harvest One completes first shipment of medical cannabis to Shoppers Drug Mart

Harvest One Cannabis Inc (CVE:HVT) (OTCMKTS:HRVOF) announced Thursday that through its wholly-owned subsidiary and cultivation arm United Greeneries Ltd, it had completed its first shipment of medical cannabis to Shoppers Drug Mart.

Fri
22
Mar

Is HEXO Corp. (TSX:HEXO) a top cannabis stock for your portfolio?

Consolidation continues in the Canadian marijuana sector as key players position themselves to capitalize on long-term opportunities in the country and overseas.

Smaller cannabis companies that don’t have the scale or a sustainable competitive advantage are seeking partners that share their expansion objectives, while the big marijuana stocks are searching for strategic assets and capacity growth in an attempt to keep up with medical and recreational cannabis demand.

Thu
21
Mar

Hemp Top 40: major developments in hemp reform since the Farm Bill passed—the good, the bad, and the ugly

Since the Farm Bill was signed in late December, clearing the way for states to take over hemp regulatory duties, much has transpired. Here’s a quick look at just 40 of the many major developments that have taken place recently as a result of federal hemp reforms—the good, the bad, and the ugly.

The Good

  1. To date, more than 40 states have defined industrial hemp as distinct from marijuana and removed barriers to its production.

Thu
21
Mar

Cannabis stocks lower after Green Organic Dutchman’s earnings disappoint

Cannabis stocks moved lower Wednesday, as investors scrutinized earnings from Green Organic Dutchman Holdings Ltd. and awaited a U.S. congressional committee vote next week on protecting banks that serve the sector.

Korey Bauer, Portfolio Manager of the Cannabis Growth Fund CANNX, -0.67% a mutual fund recently launched by Foothill Capital Management, said the market is likely taking a breather after a strong run-up.

“We’re up more than 50% for the year, so it’s not a surprise to see the market take a break,” he said.

Thu
21
Mar

Going green: Cannabis and the cost of energy consumption in North America

According to the Cannabis Energy Report released by New Frontier Data last October, the production of legal cannabis is projected to consume 162 percent more energy by 2022.

“Based on the 16.4 million pounds of cannabis cultivated in 2017, the resulting electricity-based carbon emissions associated with that level of production was 1.8 million tons,” the report continued.

Thu
21
Mar

Canopy Growth Signs Extraction Deal With HollyWeed North

Canopy Growth Corporation (TSX: WEED) (NYSE: CGC) signed a multi-year processing and extraction agreement HollyWeed Manufacturing & Extracts Inc. 

HollyWeed North Cannabis Inc. is the parent company of HollyWeed Manufacturing & Extracts Inc., which is a female-led, LGBTQ2-positive company based in British Columbia that operates several subsidiaries specializing in the growth, manufacturing, licensing, and production of cannabis and other pharmaceutical grade products.

Thu
21
Mar

Top marijuana ETF adds 10 stocks, eyes US CBD market

The Horizons Marijuana Life Sciences Index ETF (TSX:HMMJ) completed its quarterly rebalance and updated investors on its new holdings on Tuesday (March 19).

With these new additions, Horizons ETFs Management confirmed the ETF now has 59 cannabis stocks in its holding list.

Horizons ETFs indicated that, as of March 15, the ETF had netted a return of 58.95 percent over a year-to-date period.

Here is a list of the stocks added to HMMJ’s portfolio:

Thu
21
Mar

HEXO's acquisition shakes up the top 11 marijuana growers list

If you're looking for one of the fastest-growing industries on the planet, you've found it with legal marijuana. It has generated less than $10 billion in annual sales worldwide in 2017, but investment bank Cowen Group is calling for up to $75 billion in global sales by 2030. For those of you keeping score at home, that's a compound annual growth rate of about 17% for 13 years. Because the industry is still relatively nascent, it means there's a lot of market share up for grabs on the recreational and medical side of the equation. This has meant that growers have been particularly aggressive expanding their production capacity organically, through partnerships, or by acquisition.

Thu
21
Mar

3 pot stocks with skyrocketing short interest

Since the year began, the marijuana industry has seemingly done no wrong. Following the legalization of recreational marijuana in Canada in mid-October, Wall Street is projecting that global weed sales could top $50 billion in roughly a decade's time. And with a compound double-digit annual growth rate comes some very lofty expectations from investors.

Wed
20
Mar

Cannabis investors eye Uruguay in push for global weed exports

Serious marijuana money is starting to show up in Uruguay.

Almost six years after the South American country of 3.4 million people legalized cannabis, investors are betting Uruguay can become an export hub for medical marijuana as the industry expands around the world.

Silverpeak Life Sciences Uruguay Inc, one of the largest companies in the country’s nascent medical marijuana industry, is in talks with investment bankers to raise US$35 million this year to quadruple production and build a larger extraction lab in 2020, according to chief executive officer and U.S. cannabis investor Jordan Lewis.

"Our planned and desired expansion would be about 25 tons next year and that should push us above US$100 million in revenue," Lewis said.

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