Marijuana Business News

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Fri
19
Nov

HEXO Announces Changes to its Board of Directors

Hexo logo

HEXO Corp (“HEXO”, or the “Company”) (TSX: HEXO; NASDAQ: HEXO), today announced that Sebastien St-Louis has resigned from HEXO’s Board of Directors. The Company also announced that it has appointed President and CEO, Scott Cooper, as a Director to replace Sebastien St-Louis, effective yesterday.

“I would like to take this opportunity to thank Sebastien for over eight years of service on HEXO’s Board of Directors. Through his years of dedication, he has helped build HEXO into a market leader in Canada.” said Dr. Michael Munzar, Chair of the Board.

Fri
19
Nov

Canopy Growth Announces Changes to Executive Management Team

Canopy Growth logo

Canopy Growth Corporation ("Canopy Growth" or "the Company") (TSX: WEED) (NASDAQ: CGC), a world-leading diversified cannabis, hemp, and cannabis device company, today announced strategic changes to its Executive Management Committee. Effective immediately, Mike Lee, Executive Vice President and Chief Financial Officer, and Rade Kovacevic, President and Chief Product Officer will be stepping down from their respective roles on the Executive Management Committee and will depart from the company on December 31, 2021. In the interim, they will serve in an advisory capacity to support transition.

Fri
19
Nov

Tech that converts liquid cannabis to a gel could change the way Canadians consume cannabis

scientists in pink lights

Licensed to a Vancouver company, the goal is to employ technology that converts liquid solution to a gel to commercialize products in the form of a nasal spray.

Australia’s University of Queensland (U.Q.) and Canada’s PreveCeutical Medical Inc. have teamed up for what is being called a revolutionary change in how patients will take medical cannabis: a liquid that converts to a gel.

The Sol-Gel technology is thanks to the work of a team of researchers, led by Dr. Harendra Parekh, at the U.Q.’s School of Pharmacy, which explains the liquid solution converts to a gel upon contacting “internal membranes of the human body, such as the nose.”

Fri
19
Nov

Quebec cannabis society posts 25.4 per cent increase in second quarter

cannabis leaf

The Quebec cannabis society (SQDC) posted net earnings of $19 million for its second quarter on Friday, up 25.4 per cent from the same period last year, which it attributed in part to the expansion of its branch network. The Crown corporation's network consisted of 77 outlets at the end of the most recent quarter, 32 more than at the same time last year.

As a result, SQDC's sales totalled $142.0 million in the second quarter, up 18 per cent from $120.2 million a year earlier.

In addition to the growth in the number of branches, the SQDC attributed the increase in revenue to the migration of consumers from the illicit market.

Mon
15
Nov

Legal marijuana prices have dropped 40% in Nova Scotia since 2019

marijuana on table

Cannabis sales up roughly 20 per cent as legal market cuts into illicit trade

Falling cannabis prices are taking a bite out of the illicit market in Nova Scotia, according to the province's official cannabis retailer. 

"The whole intent of legalization was to make an impact on the illicit market," said Bev Ware, a spokesperson for the Nova Scotia Liquor Corp.

Ware said the average price of a single gram of marijuana in Nova Scotia now stands at $6.50, down by nearly 40 per cent since legalization in 2018. 

But it's a stable supply of one-ounce packages of cannabis, some selling for as low as $110, "that helps compete with the illicit market," Ware said.  

Mon
15
Nov

Canadian Licensed Producers Have Received A Mixed Bag Of Price Target Adjustments Post Earnings

canadian flag in leaf

With earnings season kicking into high gear for the cannabis industry, several companies that have reported earnings have seen volatile price swings.

Broker-dealers have been responding to the earnings reports by changing ratings and price targets on companies they respectively cover. Today, we highlighted several Canadian Licensed Producer (LPs) that have been the subject of rating and price target changes by broker-dealers so our readers can have a better understanding of the upside and downside potential associated with the new price targets. 

Fri
12
Nov

Regina council decides to start treating cannabis stores like any other business

cannabis leaf

Only exception is requirement stores be minimum 60m away from schools, adjacent parks

It's been three years since cannabis was legalized in Canada and the Regina city council says it is ready to start treating pot stores like any other retail business, with a few exceptions. 

Council voted on Wednesday to approve a report that will "significantly improve" the city's cannabis retail regulations, according to city staff. 

The decision comes despite opposition from existing cannabis retailers — who are concerned about over-saturating the market — and the city's school boards. 

Fri
12
Nov

Protecting Your Cannabis Company: Why Artificial Intelligence is a Must

working on a laptop
Revolutionary developments in Artificial Intelligence (AI) technology are finally making it feasible for businesses in the cannabis sector to more efficiently monitor their assets—for a mere fraction of the prevailing cost. With Cloudastructure, you get the best AI-based surveillance system available on the market today.
Thu
11
Nov

Hemp Seed Oil Market size is anticipated to reach US$ 336.1 Mn by the end of 2030

hemp seeds

The global hemp seed oil market size is anticipated to reach US$ 336.1 Mn by the end of 2030. According to a study by Future Market Insights (FMI), the market will rise at an impressive 18.5% CAGR between 2020 and 2030. According to the report, the rising demand for sustainable products will drive growth in the market. The report offers a holistic market overview intended to help stakeholders get a better look and the prevailing trends and opportunities. Besides examining investment feasibility across key segments, the study also analyses threats to the market.

Wed
10
Nov

Sundial Growers' CEO Has a Warning for the U.S. Pot Market

holding up a cannabis leaf in front of US flag

Marijuana legalization, whenever it arrives, will likely come with challenges.

The U.S. pot market remains illegal at the federal level, despite dozens of states passing legislation to permit it for either medical or recreational use. Full legalization could still be years away. And while there may be lots of excitement about that and removing many barriers for cannabis producers, that doesn't mean it will be a smooth ride for investors and businesses.

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