Marijuana Business News

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Tue
21
Sep

MMJ Group receives offer for its investment in cannabis extraction company Embark Health

MMJ Group Holdings Ltd (ASX:MMJ, OTC:MMJJF) has given its tacit agreement to an offer from BevCanna Enterprises Inc to acquire its investee Embark Health.

Embark Health is a Canada-based cannabis extraction business that has been making solid strategic business progress throughout 2021 as it eyes off a public listing, while BevCanna is a health & wellness beverage and natural products business listed on the Canadian Stock Exchange.

MMJ’s investment in Embark consists of shares and the current value stands at approximately C$2.4 million. MMJ expects that its share of the deal would approximate the current book value of its investment.

Tue
21
Sep

BDSA Reports Global Cannabis Sales Surge 41% YoY in 2021; Will Surpass $62 Billion by 2026

Canadian money

 BDSA announced today an update of its cannabis market forecast, a five-year rolling global forecast by country, state, province, channel, and category. Cannabis sales for 2021 will near $31 billion, an increase of 41% over 2020 sales. Further, BDSA forecasts global cannabis sales to grow from $30.6 billion in 2021 to $62.1 billion in 2026, a compound annual growth rate (CAGR) of more than 15%.

“The cannabis industry continues to show exceedingly rapid growth, particularly within the U.S. market,” said Kelly Nielsen, Vice President Insights & Analytics, BDSA. “New markets, both medical and adult-use, are developing at a faster pace than observed in the past, and states are transitioning from medical-only to fully legal in a shorter time frame.”

Tue
21
Sep

TobaGrown will join Quebec's Supreme Court Appeal, while continuing their lawsuit against the Manitoba Government's ban on home-grown cannabis

woman lawyer

Quebec's Court of Appeal agreed with the Quebec Government's ban on home-grown cannabis. This reversed the previous Superior Court ruling in 2019 which said the Quebec Government's ban on home-grown cannabis was a violation of federal law.

"A provincial government that denies its citizens the right to grow their four federally legal cannabis plants is on a slippery slope to removing other personal freedoms," said Dr. Av Singh, one of TobaGrown's expert witnesses.

The outcome of Quebec's lawsuit will hold substantial weight in the similar case in Manitoba, where Jesse Lavoie started the "TobaGrown Movement" and filed a lawsuit against the Manitoba Government's ban on home-grown cannabis in August 2020.

Tue
21
Sep

Cannabis production company Tilray closing its offices, facility in Nanaimo, B.C.

cannabis growing indoors

Cannabis company Tilray Inc., which merged with Aphria Inc. earlier this year, says it will close a Nanaimo, B.C., office and facility. The company says in an email that it is closing the facilities to optimize operational efficiencies and save costs following the merger. The company did not share how many workers will be impacted by the closures, but says it will work with those interested in opportunities at its Broken Coast facility on Vancouver Island. Tilray says the closure will roll out in phases and is expected to be completed by next spring.

Tilray's website shows that the Nanaimo facility was home to a grow room, vault, trimming room, extracts lab and packaging operations.

Mon
20
Sep

Delta 9 continues retail expansion with sixteenth cannabis retail store

cannabis store

It said the new store is 3,200 square feet and is located at 2081 Pembina Highway in the Southwest corner of Winnipeg, the focal point for over half a million square feet of retail businesses making it one of the city’s larger shopping destinations

Mon
20
Sep

Heritage Cannabis Announces First Opticann CB4 Medical Product Launches in Canada and Canadian Product Website

marijuana leaf

Heritage Cannabis Holdings Corp. (CSE: CANN) (OTCQX: HERTF) (“Heritage” or the “Company”), is pleased to announce that Opticann, the medical brand and subsidiary of Heritage, is launching its first suite of CB4 branded products and has launched Opticann.ca in Canada. Backed by evidence, the CB4 products enable Heritage to develop a broader medical market with CB4 branded products offered on multiple medical platforms in Canada. “We are excited to introduce our revolutionary CB4 suite of medical products to Canada that are backed by objective scientific data that speaks to their superior performance and come in convenient dosage forms familiar to most medical patients - oral, topical and sublingual.”

Fri
17
Sep

Companies are Getting Rid of Drug Tests Because They Can’t Find Enough Workers

Man blowing smoke

In the midst of a global labour shortage, employers around the world are doing away with drug tests in a desperate bid to attract more job applicants, fill more roles and retain more workers.

A survey, conducted by staffing firm ManpowerGroup and released this week, indicated that 9 percent of more than 45,000 employers worldwide were eliminating job screenings or drug tests as an incentive to “attract and retain in-demand talent.” That equates to some 4,050 employers, from 43 countries, who are willing to turn a blind eye to workers’ recreational drug use if it means filling vacant positions.

Fri
17
Sep

High Tide Announces Opening of Canna Cabana Retail Cannabis Store in Guelph

cannabis bud with flower

High Tide Inc. ("High Tide" or the "Company") (TSXV: HITI) (Nasdaq: HITI) (FSE: 2LYA), a retail-focused cannabis company enhanced by the manufacturing of proprietary and licensed consumption accessories, announced today that its Canna Cabana retail cannabis store located at 106 Silvercreek Parkway North in Guelph, Ontario, has begun selling recreational cannabis products for adult use. This opening represents High Tide's 95th branded retail location across Canada, and 24th in Ontario, selling recreational cannabis products and consumption accessories. The new Canna Cabana store is High Tide's second to open in Guelph, a fast-growing community in the heart of southern Ontario, and the first in the city which will operate under the Canna Cabana brand.

Thu
16
Sep

3 Things to Watch For When Aurora Cannabis Reports Earnings This Month

marijuana plant

After the markets close Sept. 21, Aurora Cannabis (NASDAQ:ACB) will release results for its fiscal fourth quarter, which ended June 30. The troubled Canadian pot company's stock is already down by about 20% year to date -- a sharp contrast to the sector benchmark Horizons Marijuana Life Sciences ETF, which is up 5% -- and the upcoming report could be pivotal in determining whether the share price gets out of the red for 2021. Investors aren't expecting to see Aurora turn a profit in the final quarter of its fiscal year, but there are other ways that the company can show it is making progress. Here are the three main areas you should keep a close eye on when the company reports next week.

Thu
16
Sep

Delta 9 Achieves Milestone in Agreement with Element Cannabis Group

 DELTA 9 CANNABIS INC. (TSX: DN) (OTCQX: DLTNF) ("Delta 9" or the "Company"), is pleased to announce that it has completed its final services milestone under an agreement with Alberta based cultivation and processing partner, Element GP Inc. (“Element”). Element is an arm’s length third party in which the Company has no ownership control or interest.

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