Marijuana Business News

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Mon
02
May

Cannabis 2.0 numbers in Canada continue to roll higher

Canadian flag

In February, $265.4 million of recreational cannabis products were sold in Canada, approx. 3% less than the amount that was  sold in January. 

The data comes after a few Canadian Licensed Producers (LPs)  reported quarterly financial results for the period that ended on December 31, 2021. We consider this to be a bearish indicator for Canadian LPs and will monitor how the sector continues to perform. (Technical 420)

Fri
29
Apr

Fire and Flower is a Canadian cannabis retailer that just keeps on building

Canadian flag

Earlier this week, we highlighted Indiva Limited (TSXV: NDVA) (OTCQX: NDVAF) after it reported fourth quarter financial results and today, we want to highlight a leading Canadian cannabis retailer after it reported earnings. 

The company, Fire & Flower Holdings Corp. (TSX: FAF) (OTCQX: FFLWD) reported $175.5 million of consolidated revenue for the 2021 fiscal year. $130.8 million of the revenue that was generated was from retail stores and we are bullish on how the management team has opened additional retail locations across Canada. (Technical 420)

Fri
29
Apr

DoorDash to offer cannabis pickup service in Canada

shop

Stoners north of the border will no longer need to order weed and munchies separately. DoorDash has signed a deal with Superette, a leading local cannabis retailer to provide cannabis pickup in Toronto, Canada.

According a press release from Superette, this is the first time DoorDash will be handling cannabis orders. With a proven track record for transforming cannabis retail shopping into an immersive experience, Superette will apply their creative approach to cannabis retail on the DoorDash marketplace app.

In a emailed comment, a DoorDash Canada confirmed the company has launched cannabis pickup and is working with Superette and “will partner closely with the local government in Canada to explore new opportunities.”

Fri
29
Apr

Village Farms International to participate in A.G.P. Cannabis Conference on May 3, 2022

conference

Village Farms International, Inc. ("Village Farms" or the "Company") (NASDAQ: VFF) today announced Mandesh Dosanjh, President and Chief Executive Officer of the Company's Canadian cannabis subsidiary, Pure Sunfarms, will participate in a panel discussion titled A Close Look at the State of the Canadian Cannabis Market on Tuesday, May 3, 2022 at 10:00 a.m. ET at the A.G.P. Alliance Global Partners Spring Cannabis Conference.

A live webcast of each the available to the public on Village Farms' website in the Investors section under the Presentations & Events tab. The webcast presentation will be archived and available for 90 days on the Company's website.

Fri
29
Apr

Canna Cabana, the largest cannabis retail chain in Canada, is revolutionizing the industry with their low pricing

store

The growing industry of cannabis is a representation of its significance to many people around the world, for however they may use. The quest for legalization through the United States and in many other places around the globe has been an ongoing process throughout the years. However, there are some places that are already taking advantage of the more open market, including Canada.

Thu
28
Apr

Avicanna expands RHO PhytoTM Formulary with the introduction of cannabigerol products into the Canadian market

AVICANNA Logo
Avicanna Inc. a biopharmaceutical company focused on the development, manufacturing and commercialization of plant-derived cannabinoid-based products, is pleased to announce that it will be expanding its RHO Phyto formulary in Canada with Cannabigerol formulations into medical and adult-use channels across Canada. Avicanna expands its trusted RHO Phyto brand to include several CBG formulations which will be made...

Avicanna introduces the rare cannabinoid CBG into its RHO Phyto product formulary which includes oral, sublingual, and transdermal formulations

RHO Phyto CBG products will be made available through various medical and adult-use channels across Canada by Q3 2022

Thu
28
Apr

Okanagan cannabis retailers sue province over illegal on-reserve pot shops

bookshelf ladder

A group of cannabis retailers in the Okanagan and Shuswap is suing the province, alleging it has failed to enforce the Cannabis Control and Licensing Act on First Nations reserves.

The lawsuit was filed in the Supreme Court of British Columbia in Victoria this week.

The notice of claim alleges that cannabis sold on reserves is not produced in accordance with the regulatory regime set out in the federal Cannabis Act.

The plaintiffs include 14 numbered companies in Kelowna, Vernon, Penticton, Salmon Arm and a handful of other communities in the region.

Thu
28
Apr

Legal B.C. cannabis sales jump 25.3% in February

Increase profit

Legal B.C. cannabis sales increased 25.3 per cent to $46.3 million in February, compared to February 2021, according to Statistics Canada. 

Canada-wide, the increase was steeper: 28.5 per cent, to $336.4 million, according to the nation's number cruncher. 

While this may sound like a large year-over-year increase, sales growth for legal cannabis has slowed down. In February 2021, B.C.'s legal cannabis sales were 74.5 per cent more than the previous February. This makes for 118-per-cent growth in legal cannabis sales in B.C. in the past two years.

Some factors fuelling increased sales are more legal stores, fewer black-market stores and the perception that legal cannabis is better quality than that in the black market. 

Wed
27
Apr

Greenway Greenhouse Initiates Retrofit of Expanded Cultivation Facility

Greenway Greenhouse Cannabis Corporation

Greenway Greenhouse Cannabis Corporation (CSE: GWAY) ("Greenway Greenhouse" or the "Company") is pleased to announce the initiation of expansion of their cultivation facility, termed "GW1".

This expansion will increase the cultivation facilities flowering space from 41,750 ft2 to approximately 167,000 ft2, as well as increasing the processing space to 22,000 ft2.

"We are pleased to be able to announce that work has commenced on our expansion of our cultivation and flowering facility, GW1," said Carl Mastronardi, President of Greenway Greenhouse. "This expansion is paramount to Greenway, as it will increase our growing capacity to 24,000 KG a year. We have taken the methodical approach to expanding, making sure we don't put the cart before the horse."

Wed
27
Apr

GN seeks community input for proposed cannabis store in Iqaluit

Nunavut Landscape

Competition could be heating up in Iqaluit’s cannabis retail sector.

The Government of Nunavut is seeking community input on an application by Higher Experience Inc. to open a store at 760 Queen Elizabeth Way.

If approved, it would be a second cannabis retailer for Iqaluit, in addition to Nuna Cannabis, located on Federal Road.

The proposal is to open a store where cannabis is sold to and accessible only by adults aged 19 and older.

Under Nunavut’s cannabis laws, the territorial government must consult the community when such an application is received.

Proposed by Higher Experience Inc., the store would be open from 11 a.m. to 7 p.m. daily except Tuesdays and statutory holidays.

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