Marijuana Business News

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Mon
12
Apr

With More Women Buying Cannabis, Product Demand Could Change

More women are buying cannabis, which could lead to shifts in product demand. Women still make up a minority of adult-use marijuana purchasers – 33.6 percent in February – but that’s increased almost a full percentage point from 2020. While that trend might not be a dramatic shift in the gender makeup of retail marijuana sales, it could have a lasting effect because men and women shop differently for cannabis products.

For example, female buyers are more likely to purchase products other than flower when compared to their male counterparts. Both men and women spend the most on flower, but women spend less on it, according to analysis of wallet share (the percentage of a customer’s spend on specific categories) from February 2021.

Mon
12
Apr

Hemp Can Increase Sustainability Across Many Industries

Since the U.S. Food and Drug Administration lifted the ban on growing industrial hemp in 2018, companies developing sustainable products can look forward to a future supply of hemp fiber and oil. The plant material works in numerous industrial applications, including paper making, textiles, bioplastic packaging, flooring, and even a form of concrete.

Long History Of Usefulness

Hemp is the non-intoxicating variety of the cannabis or marijuana plant. For thousands of years, human civilizations have cultivated hemp for fiber. Historians have evidence that people grew hemp in 8,000 B.C. It was also a common crop in Colonial America. As recently as the 1930s, the state of Kansas was one of the biggest hemp producers in the world.

Mon
12
Apr

How to Grow a Successful CBD Business in 2021

The CBD market has always been a tough place to succeed. And companies experienced yet more hurdles in 2020, as a pandemic and an assortment of lawsuits gripped the industry.

In the face of such strong headwinds, it seems like it’ll also be hard for CBD businesses to grow in 2021. But it won’t be impossible. Despite obvious difficulties, the industry still provides opportunities for well-run companies to establish themselves and prosper.

There are several strategies companies can employ to develop a successful brand in this ever-changing market. But before discussing them, it’s important to understand the challenges that CBD entrepreneurs face.

Mon
12
Apr

Canopy Growth Acquires Supreme Cannabis in $346 Million Deal

Canopy Growth Corp. agreed to buy Supreme Cannabis Co., one of Canada’s leading brands of marijuana, in the latest large deal to reshape the rapidly growing industry.

Canopy will acquire all of the company’s shares in a largely stock-based deal valued at C$435 million ($346 million), according to a statement Thursday. The transaction, expected to close by the end of June, represents a 66% premium over Supreme’s Wednesday closing price, the companies said.

Supreme’s shares soared as much as 60% Thursday in Toronto, while Canopy fell as much as 2.3%.

Mon
12
Apr

5 Canadian Cannabis Companies That Are Positioned To Capitalize On Cannabis Reform In The US

After New York passed legislation to legalize recreational cannabis, we believe the government will prioritize legalization or decriminalization at the Federal level. 

New York is the 15th state to legalize recreational cannabis and we are bullish on the trend that we are seeing at the state level. From Virginia to South Dakota, several conservative markets have jumped on the legal recreational cannabis bandwagon and this is a trend that we find to be significant. 

Fri
09
Apr

Tidal partners with hockey union on cannabis products, education

Tidal Health Solutions Ltd. has been named the exclusive supplier of medicinal marijuana and related education for the Professional Hockey Players’ Association (PHPA).

The union represents current and former athletes within the American Hockey League, the professional rung just below the National Hockey League, and the ECHL, formerly the East Coast Hockey League. The certified union represents more than 1,600 players on teams based in both Canada and the U.S.

Fri
09
Apr

How this Vancouver company’s plan to be a game-changer hinges on human trials of cannabis vapes

Looking within and without is essential in the cannabis industry, whether a company is setting its sights on improving user experiences, identifying potential foreign markets, cementing its position at home or trying to figure out what makes for fair compensation in an ever-evolving sector.

 

Nextleaf Solutions starts human trials of cannabis vapes

 

Fri
09
Apr

Canadian cannabis market continues to grow, with Ontario nowhere near retail store saturation: Brightfield

Retail served as the main driver of a 118 per cent increase in Canada’s recreational cannabis market last year, with the much-anticipated rollout of stores in Ontario quickening its pace and Alberta witnessing steady growth.

“The opening of retail outlets drove growth in 2020,” notes a new report on Canada’s recreational weed market from Brightfield Group, a consumer insights and market intelligence firm for the CBD and cannabis industries.

Thu
08
Apr

This Is Why Investment in Cannabis Tech Is at Its Highest Level since 2019

People used cannabis in large numbers during the height of the lockdowns caused by the pandemic. Investors, including big-name celebrities and well-known venture capital funds, are banking on that trend to continue as the pandemic lessens its hold on the country.

The interest in cannabis became apparent the moment lockdowns began as long lines formed at dispensaries. Many governments named cannabis dispensaries as essential businesses. Cannabis sales jumped 45 percent. Investors took notice.

Thu
08
Apr

This Surprising Projection Shows Why Big Tobacco Is Moving Into Cannabis

Cannabis companies haven't made many deals outside of its own industry, but a couple of the more notable ones have involved tobacco. Altria (NYSE:MO) invested $1.8 billion into Cronos Group (NASDAQ:CRON) back in 2018 to take a 45% stake in its business. And last month, British American Tobacco (NYSE:BTI) invested roughly $176 million in OrganiGram Holdings (NASDAQ:OGI), which represents a 20% stake in the cannabis company.

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