Marijuana Business News

Synonyms: 
stocks
business
Thu
14
Nov

Cannabis in Europe: hotbed of opportunity awaits Canadian firms

As Health Canada continues to piece together the jigsaw puzzle that is the domestic cannabis market, many forward-thinking companies are looking abroad to secure their global leadership positions.

The establishment of a commercial, domestic medical program in 2013, coupled with the October 2018 launch of adult-use access, ushered in a wave of zealous capital and entrepreneurship. This fervour may enable Canada to leverage its first-mover status and author the blueprint for others; however, its relatively small population simply does not offer a sizable enough addressable market to scale into the sphere of global dominance.

Thu
14
Nov

Policing cannabis an issue in West Lincoln

Penalizing improper usage of a personal cannabis licence may prove too challenging in West Lincoln.

“Law enforcement is on the outside looking in,” Niagara Regional Police Service 8 District Staff Sergeant Rom DiEgidio told council members when he and Chief of Police Bryan MacCulloch recently presented at committee.

It is extremely difficult to investigate cannabis licence infractions and lead to a charge or conviction, he said.

Drug-related calls are on the rise in West Lincoln from residents who are smelling and seeing things they don’t like, he said, which was totally expected with cannabis legalization.

Thu
14
Nov

Alberta to tax cannabis growers

Cannabis growers in Alberta are about to be hit with higher taxes.

The province is changing the rules, so pot producers are no longer treated like farms, which pay zero in municipal taxes.

Municipal Affairs Minister Kaycee Madu made the announcement Wednesday at the Rural Municipalities of Alberta (RMA) convention.

“This change responds directly to the concerns of municipalities, who asked for this distinction in provincial tax regulations. While cannabis is a burgeoning industry, it is important that cannabis-production facilities, which are heavy users of municipal services, pay their share for those services.”

Wed
13
Nov

Cronos Group misses revenue estimates in third quarter

Cannabis company Cronos Group Inc. reported a profit in its third quarter, boosted by an $835-million gain in derivative liabilities, as revenue grew to $12.7 million.

The company says its net profit amounted to $788 million or 53 cents per diluted share for the quarter ended Sept. 30. That compared with a loss of $7.3 million or four cents per share in the same quarter last year.

Cronos says its adjusted earnings before interest, taxes, depreciation and amoritization amounted to a loss of $23.9 million in its most recent quarter compared with a loss of $3.2 million a year ago.

Revenue was up from $3.8 million in the same quarter last year and up from $10.2 million in the second quarter of 2019.

Wed
13
Nov

Will more legal pot stores snuff out the black market? Probably not, heavy users say

It's a basic tenet of retailing: if you want to reach more customers, you need more locations. And according to the Ontario Chamber of Commerce, that principle applies to pot just as much any other product. 

The chamber says people in this province are open to allowing a bigger role for private industry in providing convenient access to cannabis, if it helps get rid of the black market — pointing to a Nanos survey conducted online at the end of October.

The poll, released Thursday, suggests 51 per cent of Ontarians would favour allowing private-sector companies to purchase, distribute and sell cannabis, with the province's oversight. But not everyone's convinced it will get rid of the illegal market, especially heavy smokers like Abi Roach. 

Wed
13
Nov

Are lower pot prices finally coming to Ontario?

In October, Quebec-based pot producer Hexo Corp. announced the unveiling of a new cannabis line comprising a hybrid blend of sativa called “Original Stash.”

Most newsworthy about the new line of pot: it marked a significant price reduction for the cannabis seller, with 28-gram packages priced at just $4.49 a gram — less than half the average retail price, and lower even than the average cost of cannabis on the black market.

Wed
13
Nov

Pot industry warned by regulators to improve governance

Canadian securities regulators are calling on companies in the cannabis industry to strengthen their governance and disclosure practices to ensure investors are aware of potential conflicts of interest for executives and directors relating to M&A activity.

The Canadian Securities Administrators, an umbrella organization for provincial securities regulators, issued a staff notice on Tuesday saying it will monitor developments in the cannabis industry after observing a “higher-than-usual crossover” of potential conflicts of interest, such as overlapping debt and equity, in the sector’s M&A transactions over the past several years.

Wed
13
Nov

It's that time of year when Canada's stock losers can go wild

The Open Better value in Canadian stocks than American: Portfolio manager

The S&P 500 surged to a record-high at the Monday open, but Chris Blumas, portfolio manager at GlobeInvest Capital Management, says he's been doing more buying in Canada than south of the border. He joins BNN Bloomberg to discuss why he thinks Canadian stocks offer more attractive valuations.

Buying low and selling high? Maybe not in Canada right now.

Wed
13
Nov

B.C. rules tangle cannabis tourism

Cannabis-related tourism, or canna-tourism, is a niche in the cannabis sector that has a way to go to take shape as the legal cannabis industry evolves.

After Canada legalized cannabis in October 2018, many businesses started to realize that cannabis culture’s social element, similar to that of alcohol, makes the drug a natural counterpart for tourism ventures.

That upped efforts to encourage the province to change laws to allow consumption lounges and farm-gate sales at production facilities to create attractions that would draw a new demographic of tourists to B.C.

Wed
13
Nov

Mississauga council to reconsider retail pot after mayor ‘startled’ by illegal cannabis outlets in city

Close to a year after opting out, Mississauga will reconsider allowing retail cannabis stores in the city.

The city will look again at cannabis storefronts in the new year, in part, Mayor Bonnie Crombie said, because of the persistence of the illegal market in Mississauga. She said she was “very startled” by the amount of unauthorized cannabis businesses in the city.

Crombie said the full costs of allowing cannabis stores, from enforcement to public health and education, is to be determined.

“Certainly, there would be a much higher bylaw cost than we had anticipated given the proliferation of the illegal outlets to purchase,” she said.

Pages

Subscribe to RSS - Marijuana Business News