Marijuana Business News

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Wed
29
Sep

Stand For Craft: How Canada’s Craft Cannabis Cultivators Are Pushing For Tax Reform

Pay your taxes here written on store window

It’s been just three short years since cannabis was legalized in Canada, but it’s already clear the nation’s exorbitant taxation on cannabis cultivators is not only unsustainable; it’s killing craft growers that are paying more in tax than they earn in margins. Earlier this month, Tantalus Labs CEO Dan Sutton outlined exactly how problematic Canada’s cannabis excise tax is, with small businesses paying as much as 30 percent of their top line revenues to it, in a Twitter thread. “We are milking a calf to death,” he wrote. The industry emphatically agreed, and since then, the conversation has evolved into a campaign to raise the issue with lawmakers.

Tue
28
Sep

Spyder Cannabis Provides Dispensary Update

woman vaping

Spyder Cannabis Inc. (TSXV: SPDR) (“Spyder” or the “Company”), an established Canadian cannabis and vape retailer, announced today that its wholly-owned subsidiary, Spyder Cannabis Subco Inc. (“Spyder Subco”), has received Retail Store Authorization (“RSA”) from the Alcohol and Gaming Commission of Ontario (“AGCO”) for its proposed cannabis dispensary located at 767 Taunton Road in Oshawa, Ontario.

Tue
28
Sep

Kiaro Revenue Up 55% In Q2-2022 To A Record $6.19 Million

money in back pocket

Kiaro Holdings Corp. (TSXV: KO) ("Kiaro" or the "Company") is pleased to announce its second-quarter financial results for the three and six months ended July 31, 2021 and 2020. With the closing of the acquisition of Sculthorp SEO Inc. on July 12, 2021, Kiaro created a new segment in reporting this quarter, and now reports on Retail, Wholesale, and eCommerce operations, all of which were profitable during the quarter. All amounts, unless specified otherwise, are expressed in Canadian dollars.

Tue
28
Sep

Big boost for retail, production in flux

marijuana leaf in a shopping cart

The real estate needs of Canada’s emerging cannabis sector are still shaking down as producers, processors and retailers mature.

While the retail sector grows rapidly and offers opportunity for retail property owners, the market for massive greenhouse production facilities has slumped. Processors of cannabis 2.0 products such as beverages and gummies are having to compete in the tight and increasingly costly industrial property sector.

The Canadian cannabis market is also developing unevenly as each province opens up its regulatory regime differently.

Nadia Vattovaz, chief operating officer for retailer Fire and Flower, says Alberta is moving toward maturity in the market more quickly than other provinces because it has a head start in opening up.

Tue
28
Sep

New Research Needed to Expand Future of Cannabis

CBD and cannabis

A recently released cannabis report indicates that new formulations will be needed to satisfy changing consumer styles and demands. The report from the EY Cannabis in Canada team outlines the rapidly changing cannabis landscape, and explains that the companies out there today need to stay active to be prepared for what’s ahead. “There’s so much possibility of how the cannabis plant can be used,” Joel Alden, a partner at EY Canada, told the Investing News Network (INN) in a phone interview.

Mon
27
Sep

Big Pot wants millions in corporate investment — some lawmakers are happy to help

marijuana plant

Last year, we saw pro-pot lawmakers attempt to load up any and every COVID-19 aid bill with marijuana industry wish list items. Though none of those attempts proved successful, they are back at it again.

Last week, Rep. Ed Perlmutter (D-Colo.) offered the SAFE Banking Act as an amendment to the annual military spending bill known as the National Defense Authorization Act, or NDAA. The NDAA is a must-enact defense spending bill that Congress has passed into law each year for 60 years in a row. Which renders Perlmutter’s move especially shady.

Mon
27
Sep

New VP going to pot

Andrew Gordon headshot photo

True Leaf Brands Inc. has appointed Legacy market veteran Andrew Gordon as vice-president of Strategic Growth of the True Leaf Cannabis Inc. division. Gordon will transition to CEO of the division upon security clearance and Health Canada approval. In a prepared statement, True Leaf officials said they believe the division will benefit from Gordon’s vast experience working with diverse stakeholders and regulators to build accountable, community-responsive, and financially sustainable business models in the cannabis industry.

Previously, Gordon was senior vice-president of Kiaro Brands Inc., a publicly traded omnichannel cannabis retailer with wholesale distribution and retail stores across Canada and e-commerce sales in North America and Australia.

Mon
27
Sep

Five things to watch for in the Canadian business world in the coming week

marijuana leaf and coins

ESG ROUNDTABLE

The Canadian Securities Administrators will hold a virtual roundtable on environmental, social and governance related regulatory issues in asset management on Monday. ESG investing has attracted growing interest from individual investors as well as larger institutional money managers.

 

AURORA RESULTS

Aurora Cannabis Inc. will release its fourth-quarter and full year results after the close of markets on Monday. The cannabis company said last week that it would close its Aurora Polaris property in Edmonton as part of a plan to streamline its operations.

Fri
24
Sep

How Jane Technologies clears the smoke and mirrors to get cannabis companies online

cannabis bud

After serving as a helicopter pilot in the army for several years, Socrates Rosenfeld turned to cannabis as a sort of meditative medicine. And in 2014, as a McKinsey analyst studying “aggregators” like DoorDash, he saw an opportunity in the budding space.

Rosenfeld told Retail Brew he predicted that in a few years “the cannabis consumer will expect to shop online.” He reasoned that the experience should be as seamless as buying groceries or shoes—a digital world where you can read customer reviews that say which sneakers run a size small and which edible knocks you out—but the industry (and the law) wasn’t quite there yet.

Fri
24
Sep

Canadian cannabis retail sales set record in July

cannabis sign

Retail cannabis sales in Canada continue to rise, with sales in July approaching $340 million, a new record.

The latest numbers from Statistics Canada show that sales have continued to climb, month over month, since March.

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