Marijuana Business News

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Thu
14
Oct

Canopy Growth to buy ‘#1 edibles brand in North America’

wana gummies

Canopy Growth (WEED.TO)(CGC) is looking to dominate the cannabis gummies market with its latest option-based deal hingeing on pot becoming federally legal in the United States. 

The Smiths Falls, Ont.-based company announced a deal on Thursday to acquire privately-held Wana Brands, a Colorado-based cannabis edibles brand that claims to lead the category by market share across North America.

Canopy says the transaction is similar in structure to its planned takeover of New York-based multi-state operator Acreage Holdings (ACRHF), a landmark deal when it was announced in 2019 that required federally permissible pot sales in order to be fully consummated. 

Wed
13
Oct

Frank And Oak – Canada’s Top Sustainable Fashion Brand Announces New 2022 Goals

fashion model

Frank And Oak is a certified B Corporation® since 2019. Certified B Corps meet the highest standards of verified social and environmental performance, transparency, and accountability and are required to consider the impact of their decisions on their workers, customers, suppliers, community, and the environment. The brands’ new objectives include removing virgin plastic and polyester from their supply chain, implementing more carbon offset programs, using more renewable energy, and continuing to encourage their zero-waste policy. Recent catastrophic weather events proved once again that climate change can no longer be ignored.

Wed
13
Oct

Cannabis Commission to hand out first retail license Nov. 1

open sign

It will be the first time a retail license has been issued since Six Nations of the Grand River Elected Council created the Commission in the spring of 2019 to develop the Six Nations Cannabis Control Law, it’s regulations and build the policies to regulate the cannabis industry on Six Nations Territory.

The Commission’s new Executive Director, lawyer Verna George, introduced herself at a general council meeting Tuesday night where she shared that both production and retail licenses are close to being issued.

“I was so excited about this opportunity,” said George, who is from Six Nations but lives on the Kettle and Stony Point First Nation. “I’m very happy to give back to my community, in this project. I think it’s a wonderful opportunity for the community.”

Wed
13
Oct

IGNITE Pulls Out of Cannabis in Canada

marijuana leaf

IGNITE International Brands, Ltd. (CSE:BILZ, OTCQX: BILZF) (“ IGNITE ” or the “ Company ”), a global consumer packaged goods company, today announced that it is discontinuing its cannabis business in Canada.

Tue
12
Oct

Citizen Stash Enters the Province of Nova Scotia

cannabis bud

Citizen Stash Cannabis Corp. (the "Company" or "Citizen Stash") (TSXV:CSC) (OTCQB:EXPFF) (FRANKFURT:MB31) is pleased to announce the launch of its premium flower products into Nova Scotia where it will be available in cannabis retail stores within the province in the coming weeks.

Tue
12
Oct

Cannabis has been legal for almost 3 years yet retailers say they're being shut out by banks

cannabis bud

As the third anniversary of Canada's legalization of cannabis approaches, retailers say they continue to struggle to find access to basic financial services from banks.

Industry experts say decades of stigma, as well as international pressure, continue to plague the fledgling industry, forcing shop owners to dig into their savings to open their small businesses and limiting the sector's growth.

Charles Varabioff, owner of Kingsway Cannabis, says finding a bank to take on his business account was next to impossible.

"I tried every single one of them. And every one [of the banks] was 'no, no, no, no, no,'" he said.

 

Branch managers, he says, would tell him the cannabis industry is too high-risk.

Tue
12
Oct

Can a Cannabis Crowdgrowing Movement Challenge the Canadian “green rush”?

cannabis bud

Canada was promising to be a leader in legislation, cultivation and patient care and access throughout the industry but bureaucracy, bad manufacturing practices and lack of care have made Canada an unwilling example on how not to implement a successful cannabis strategy.

Recreational cannabis has been legal and available since 2018, yet two years on billions have been wiped off the values of the top Cannabis companies and why is the Canadian cannabis community still sourcing their much loved bud from the black market?

Fri
08
Oct

Vancouver cannabis retailers to see business licence fee drop by half next year

cannabis store

Prospective and current cannabis dispensary owners in Vancouver will see the cost to obtain or renew a business licence next year drop by more than half the current rate — but the reduced fee will still be the most expensive in B.C., if not Canada.

Currently, cannabis operators in Vancouver pay a one-time application fee of $99 and $33,958 for a business licence for a total payout of $34,057, according to a city staff report that went before council this week.

Council unanimously approved Tuesday a staff recommendation that will see a new retailer in 2022 pay a one-time application fee of $2,500 and $13,500 for a business licence; an existing retailer will only pay the $13,500 fee to operate.

Fri
08
Oct

Cannabis Producer Sundial to Buy Chain of Liquor and Pot Stores

liquor store

Canadian cannabis producer Sundial Growers Inc. said it will buy liquor and pot retailer Alcanna Inc. for C$346 million ($276 million) in stock, building on a vertical-integration strategy of acquiring stores. 

Sundial, which is based in Calgary and listed on Nasdaq, will pay C$9.12 per Alcanna share, the companies said Thursday evening. 

Thu
07
Oct

BevCanna Signs White-Label Agreement to Produce Cannabis-Infused Beverages for Xebra Brands

cocktails
 
 
Emerging leader in innovative health and wellness beverages and products, BevCanna Enterprises Inc. (CSE:BEV, Q:BVNNF, FSE:7BC) ("BevCanna" or the "Company") announces today that it has entered into a white-label agreement with Xebra Brands Ltd., a rising player in the global cannabis beverage sector. Vicious Citrus™ -- Lemonade for Renegades™ -- "True rebels are direct, honest, and stand up for what they believe in… just like Vicious Citrus. Vicious Citrus cannabis-infused lemonades don’t compromise on great taste and blaze a refreshingly original path." www.viciouscitrus.com (Photo: Business Wire)

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