Marijuana Business News

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stocks
business
Fri
08
Nov

Cannabis is legal, but you can't promote it. How are companies supposed to sell it?

Marketing legal cannabis in Canada has not been easy. Strict marketing regulations in the Cannabis Act (which basically add up to you can’t) have made it hard for cannabis companies in Canada to create recognizable and trustworthy brands.

Basically, there is a ban on the “promotion” of cannabis, cannabis accessories or services, which includes communicating price, using people, characters, animals or testimonials. Even certain colours or designs are a no-go depending on their likelihood of appealing to a young person or associating with a lifestyle. It’s … complicated.

Fri
08
Nov

Lack of cannabis stores fuels Ontario’s illicit market

Few sectors in Ontario have invested as much or created as many jobs as the legal cannabis industry. Today, 45 per cent of Canada’s licensed cannabis producers are located in Ontario. At the end of 2018, the sector directly employed approximately 5,700 across the province and cannabis companies have invested hundreds of millions of dollars into the Ontario economy.

Fri
08
Nov

Canadian marijuana stocks: Look for these signs that the industry is turning around

In November 2018, marijuana looked to be the hottest investment since sliced bread. Just a few weeks prior, Canada had become the first industrialized country in the world to legalize adult-use marijuana, and the broad-based expectation on Wall Street, as well as among independent analysts, was that pot stocks could quickly grow their sales and generate a profit.

Fri
08
Nov

Cannabis Canada: Ontario expects cannabis operations to book $10M profit in FY2019

Pot companies eye real estate asset sales to help survive financing drought  

Thu
07
Nov

Danish medical cannabis hiccups following CannTrust Scandal

Denmark’s ambitious medical cannabis program is being stymied by the CannTrust scandal and price issues as new figures show patient numbers flat-lining.

Canadian firm CannTrust has been hounded by the authorities and the markets after an ‘illegal growing operation’ was discovered in one of its domestic cultivation facilities. Shortly after this discovery it emerged that CannTrust’s partner in Denmark, StenoCare, had sold some of these illegal buds to its patients – and CannTrust has since ceased the sale and shipment of all cannabis products.

Thu
07
Nov

Drake gets into cannabis business with Canopy Growth partnership

Drake is teaming up with Canopy Growth Corp. for a new venture to sell recreational cannabis and accessories in Canada and abroad, a move that could quickly establish the hip-hop superstar as a major player in the legal pot industry.

The joint venture, dubbed More Life Growth Co., will see Canopy expand its celebrity partnership portfolio to include the 33-year-old musician famous for such hits as God’s Plan, Hotline Bling and Best I Ever Had in the hope his presence can help bolster flagging cannabis sales in Canada. 

"The opportunity to partner with a world-class company like Canopy Growth on a global scale is really exciting,” Drake said in a statement. “The idea of being able to build something special in an industry that is ever growing has been inspiring."

Thu
07
Nov

Ontario to allow cannabis retailers to sell online and over the phone

Cannabis retailers will soon be able to sell products online or over the phone for in-store pick-up as the Ontario government adopts a “click-and-connect” sales model to expand access to legal marijuana.

Finance Minister Rod Phillips announced the proposed changes in the government's fall economic statement Wednesday, saying they will decrease waits for cannabis and help combat the black market.

The shift comes as the Progressive Conservative government pledges to lift a cap it imposed on the number of cannabis stores in Ontario.

“All of the provincial jurisdictions are learning and trying to make sure that we take the best approach,” Phillips said. “Our priorities are getting rid of black market cannabis and safety in our communities.”

Thu
07
Nov

Pot regulations around signage frustrating for Alberta cannabis retailers

There are five cannabis stores in Lacombe – a city of about 14,000 people.

That means promoting your business is important, says Matt Panelli, co-owner of Merry Guanas.

The store is located on 49-B Avenue, a “side street,” which means it would be useful to have a billboard or any type of sign that would direct customers to the store, he explained.

But that’s nearly impossible with new regulations imposed by Health Canada. The rules, which kicked in Oct. 17, require retailers to have billboards no larger than 300 square centimetres – about the size of a half page of printer paper.

The Alberta Gaming, Liquor and Cannabis agency is responsible for enforcing the regulations.

“That is tiny,” said Panelli.

Thu
07
Nov

Cannabis legalization hasn't hurt the black market in N.B

If the legalization of cannabis was supposed to hurt the black market, the new head of Cannabis New Brunswick says it hasn't happened.

In fact, he believes more illegal dispensaries have opened up in the province, and that's curtailing the province's profits from cannabis.

Patrick Parent has been on the job for just over two months, but says the province won't be making money off cannabis this year. 

The exterior of a Cannabis NB retail store is shown in Fredericton, N.B., on Tuesday October 16, 2018. (THE CANADIAN PRESS/Stephen MacGillivray)

Wed
06
Nov

Cronos Group just took a big leap overseas

Somewhat atypically for a marijuana stock, Cronos Group's (NASDAQ:CRON) latest growth initiative isn't an acquisition -- it's an initial public offering (IPO).

Yes, the company is already listed on the Toronto Stock Exchange and the Nasdaq, and no, it didn't float a pack of new shares on either. Rather, the company's latest stock market adventure took place far overseas. Here's the skinny about Cronos' recent involvement in an IPO, and why you might not be familiar with it.

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