Marijuana Business News

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stocks
business
Wed
01
Jun

Alberta worker placed on one-year unpaid suspension for cannabis use

cannabis

The employee was originally terminated after consuming cannabis while attending a company training course.

An employee with Nav Canada, which runs the air navigation system over Canada and part of the North Atlantic Ocean, has been placed on unpaid suspension for a year for violating the company’s drug policy, an Alberta arbitrator has ruled. 

Tue
31
May

Why Aurora Cannabis (TSX:ACB) stock tanked 45% last week

stock

There’s no respite for Aurora Cannabis investors!

It has been a terrible year for growth investors. But for cannabis investors, it has been all the more awful, and there seems to be no respite!

Once hot pot stock Aurora Cannabis (TSX:ACB)(NASDAQ:ACB) fell almost 45% last week. The stock has lost more than 80% since last year and 69% in 2022. The entire cannabis sector was down last week, but Aurora led the fall and closed at $2.14.

Tue
31
May

Canada’s big banks see positive outlook while cannabis growers struggle with latest earnings. Here are the past week’s winners and losers

bank

The bank always wins, and last week was no exception. Among the many quarterly earnings released by Canada’s major financial institutions, Scotiabank’s stood out for a 12 per cent profit increase compared with those in the same quarter a year earlier. Analysts found a bright spot in Scotiabank’s commercial lending programs, where loan balances grew 19 per cent in the second quarter.

Long one of the top performing stocks on the TSX, the Toronto-based waste management company held its annual investors day last week. The company predicted growth in its future — deploying between $500 million and $1 billion annually on acquisitions, and organic revenue growth of roughly five per cent per year.

Tue
31
May

B.C. cannabis company loses bid to suppress disaffected shareholder

man

Emerald Health Sciences sought an injunction against a shareholder who raised concerns about company ties to a major U.S. fraud investigation.

A B.C. cannabis company has lost a court case against a disaffected shareholder, who claims he was “oppressed” to remain quiet about the firm's connections to a major securities fraud scheme alleged in the United States.

Emerald Health Sciences (EHS) had sought an injunction against defendant Kris Kallu, who had used the company’s shareholders email list to voice concerns about the criminal indictment of the company’s president and CEO Avtar Dhillon, who is Kallu's cousin.

Tue
31
May

Budgeted to stall, New Brunswick alcohol, cannabis sales keep growing

liquor store

N.B. cigarette sales alone plummet after early pandemic boost

An early pandemic surge in legal cigarette, cannabis and alcohol sales in New Brunswick has more than evaporated for tobacco in the last year, but gains made by the other two have shown surprising resilience. 

According to provincial budget documents, the sale of taxed tobacco products in New Brunswick was down 22 per cent for the fiscal year ended in March.

It's the equivalent of 124 million fewer legal cigarettes being sold in the province in the second year of the pandemic compared to the first year.

People are still smoking, according to Rick Barnum, the executive director of the National Coalition Against Contraband Tobacco.

Mon
30
May

A cannabis store in every strip mall might be too much for Alberta

man

Cannabis Benchmarks analysis suggests Alberta has more than 'optimal' number

From behind the counter of a northwest Calgary cannabis shop, Alex Macyszyn serves a handful of midday customers. 

He has plenty of company in his line of work: there are at least three other cannabis stores within a five-minute drive, and another one that recently closed down. 

"There's way too many cannabis stores just in this area," said Macyszyn.

"It makes the competition really hard." 

A new analysis of the Canadian cannabis retail landscape suggests Alberta may have more cannabis stores than the market can sustain. 

Mon
30
May

Industry lobby group to focus on taxation, regulation changes in Ottawa meet-and-greet

tax

Canada’s cannabis industry has a tax problem. 

While the industry may have been happy to accept an onerous excise tax regime in exchange for Canada’s legalizing recreational cannabis sales back in 2018, fast forward to today and those fees have become an anchor that has dragged down the country’s producers, both large and small, which have struggled to become profitable.

Mon
30
May

Why protein is the next frontier in hemp breeding

woman eating hamburger

Hemp is very nutritious. For example, there are two fatty acids that are essential for human health — linoleic acid (omega-6) and alpha-linolenic acid (omega-3) — and hemp seed oil is packed with them.

“In other words, hemp packs a great nutritional punch,” says Ben Raymond, vice-president of research and development for Victory Hemp Foods based in Kentucky.

“That, of course, means we as researchers have a lot of questions. What can we do to improve nutrition? What can we do to improve flavor? Things that you would do with soybean or canola or any other ag commodity, we can do with hemp to make it bigger, faster, cheaper and more nutritious.”

Mon
30
May

Iconic cannabis trade show Hall of Flowers is coming to Toronto

trade show poster

For the first time, Hall of Flowers, the iconic, industry-leading cannabis brand and retail trade show, will be coming to Toronto, Canada in September 2022.

Hall of Flowers is an invite-only, tightly-curated, B2B trade show that is specifically designed to strengthen relationships between brands and retailers. Hall of Flowers Canada is made possible in collaboration with Vetrina Group.

“Canada has led the way for national legalization,” said Hall of Flowers co-founder Dani Diamantstein.

“To be able to bring the unique Hall of Flowers experience to Toronto allows us to help drive the industry forward across North America.”

Fri
27
May

Why the cannabis industry needs more stringent testing

cannabis

With proper testing regulations, consumer health can be protected and a prosperous, strong and trustworthy cannabis industry will be created.

With the increasing demand for legal cannabis and heightened participation of various states, the need for comprehensive and rigorous testing solutions has become vital. Considering a lot of individuals use cannabis products for medical purposes, they should not have to worry about falling ill from consuming pathogenic infested cannabis products.

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