Marijuana Business News

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stocks
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Wed
27
Apr

High Tide closes acquisition of Crossroads Cannabis, adding three established retail cannabis stores in Ontario

Hightide Crossroads Cannabis Logo

High Tide Inc. ("High Tide" or the "Company") (NASDAQ: HITI) (TSXV: HITI) (FSE: 2LYA), a leading retail-focused cannabis company with bricks-and-mortar as well as global e-commerce assets, is pleased to announce that further to its press release dated March 3, 2022, the Company has completed its acquisition (the "Acquisition") of three operating cannabis stores in Ontario (the "Stores") operating under the name Crossroads Cannabis ("Crossroads"), for CAD$1.9 Million (the "Transaction").

Wed
27
Apr

Canopy Growth cuts 243 jobs as sales decline

Cannabis black and white picture

 

 

Canopy Growth (WEED) says it is eliminating 243 jobs as its sales continue to decline and the Canadian cannabis producer implements a new cost reduction strategy.

The Smiths Falls, Ontario company said that the impacted workers span its operations across Canada, Europe, and the U.S., with the Canadian portion located mainly in Ontario.

The job cuts are a key piece of the cost-cutting plan that will also see the company retool its facilities, review procurement strategies, implement flexible manufacturing processes, and reduce third-party professional and office fees.

Tue
26
Apr

Crystal Cure clinches foothold in every Maritime Province’s cannabis market

Lighthouse Water

A NEW BRUNSWICK CANNABIS PRODUCER IS NOW SELLING ITS PRODUCT TO BOTH ITS MARITIME NEIGHBOURS. CRYSTAL CURE HAS SIGNED A DEAL TO SELL TWO STRAINS AT NOVA SCOTIA CANNABIS RETAIL LOCATIONS.

Jonathan Wilson, CEO of Crystal Cure, said the company has introduced two strains of cannabis to the Nova Scotia market, where they will be sold at NSLC Cannabis locations. It’s the biggest order the small, Shediac Cape-based grower has received to date.

“It’s exciting for us and we can keep it nice and close to home, so it’s wins all around. We’re happy to get into [the Nova Scotian market],” said Wilson. “The big thing is that it’s not a one-time deal. This initial order opens up the door for us to continue to ship.”

Tue
26
Apr

Kahnawake-Quebec relations move forward

Mohawk Indigenous Flag

After months of complex negotiations with the province, the long-overdue meeting between the Mohawk Council of Kahnawake (MCK) grand chief Kahsennenhawe Sky-Deer and Quebec premier Francois Legault is one step closer to becoming a reality.

On April 11, the Council formally approved the Statement of Understanding and Mutual Respect and the Framework Agreement between the Quebec government and the MCK.

“After months of back and forth between the Quebec team and our team, we presented the final draft of the Framework Agreement for negotiations,” said MCK chief Mike Delisle, who is the portfolio lead of the External Government Relations file.

Tue
26
Apr

B.C. cannabis industry gathers to push for changes

bench water mountains trees

 

"B.C. has a major international brand for cannabis and we don’t want to lose that advantage," says the secretary of the B.C. Craft Farms Co-op.

The inaugural B.C. Cannabis Summit wrapped up its three-day event on Saturday with a roundtable discussion aimed at bettering the future of the cannabis industry for both the seller and the consumer.

The main topics discussed by industry professionals at the event included the taxing of cannabis, current policy issues, and how starting a "farmgate" could help boost the economy in a post-pandemic world.

“It’s essentially the same thing you would have at an orchard where a person can come pick up some apples, pick up some pears, pick up some peaches,” said Irwin Chahal, owner of South Okanagan Cannabis.

Tue
26
Apr

Truss CEO expecting summer of cannabis-infused beverages after category’s rocky debut

Cannabis Drink

When cannabis-infused drinks were legalized in Canada in 2020, pot producers expected the beverages to flow all summer as consumers flocked to the new category.

Those visions were dashed when the COVID-19 pandemic temporarily closed shops that March and the following year was spent contending with a mishmash of health regulations, but Dave Schlosser believes that long-awaited summer demand is on its way.

“We think this will be the summer of CIB — cannabis-infused beverages — as people want to get out, want to socialize, want to try new things,” said the newly named president and chief executive of Truss Beverage Co., a joint venture between brewing giant Molson Coors Canada and cannabis company Hexo Corp.

Mon
25
Apr

Cannabis clone sales making a splash in the Maritimes

Newfoundland

 

Two Maritimes-based cannabis growers are making a splash this spring selling cannabis clones from their own retail locations.

ECO Canadian Organic in New Brunswick and Atlantic Cultivation in Newfoundland both began selling cannabis clones in April—with ECO Canadian Organic selling them from their farmgate store and Atlantic Cultivation selling them in four retail stores they operate in St. John’s.

Both grower/retailers are selling them through a pre-order system where consumers have a specific day to pick them up, and both say the feedback from consumers has been very positive. 

Mon
25
Apr

Business owner says cannabis regulations hampering potential for pot tourism

Calgary Sign

 

 

Nearly four years after pot was legalized in Canada, a Calgary business owner says ongoing stigma and outdated rules are holding back his cannabis-related tourism business from its full potential.

Dave Dormer’s company Cannanaskis gives adult-only cannabis-focused tours in the Rocky Mountains and, until recently, at a site in Calgary.

Dormer isn’t licensed to provide cannabis to clients on his tours. Instead, he talks about the history of the plant, and provides his clients with food and a safe and legal space to consume their own cannabis while on the tour.

Mon
25
Apr

B.C. cannabis industry gathers in Kelowna, pushes for changes

BC Cannabis Summit

The inaugural B.C. Cannabis Summit wrapped up its three-day event on Saturday with a roundtable discussion aimed at bettering the future of the cannabis industry for both the seller and the consumer.

 

The main topics discussed by industry professionals at the event included the taxing of cannabis, current policy issues, and how starting a "farmgate" could help boost the economy in a post-pandemic world.

“It’s essentially the same thing you would have at an orchard where a person can come pick up some apples, pick up some pears, pick up some peaches,” said Irwin Chahal, owner of South Okanagan Cannabis.

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