Recreational Marijuana News

Synonyms: 
lifestyle
recreational
Wed
16
Jan

Canadians spent $1.6 billion on legal weed in 2018: Report

Canadians spent $1.6 billion on legal weed in 2018, more than double the amount that was spent on solely medical cannabis in 2017, according to a new report.

The State of Legal Marijuana Market, released Tuesday by Arcview Market Research and BDS Analytics, found that despite pushing legalization back from the summer until October, Canada still managed to increase its spending on legal weed from $755 million to $1.6 billion, making it the number three legal weed market in the world. According to Statistics Canada, Canadians spent $5.7 billion on weed in 2017, the vast majority of which came from black market.

Tue
15
Jan

Race on to partner with Ontario's cannabis retail licence winners

Businesses and investors are rushing to partner with the 25 winners of the Ontario cannabis retail licence lottery, with offers apparently worth millions of dollars, to be involved in the province's first recreational weed stores set to open this spring.

Olivia Brown, the founder of Hamilton, Ont.-based Professional Cannabis Consulting, says one of her clients was among the 25 entities selected by the province via lottery, and has fielded three "big offers" on Monday alone.

"There's a couple of large investors, one from the United States, one of them from Amsterdam... a very established Hamilton family looking to invest," said Brown, who said her client did not want to be named.

Mon
14
Jan

Pot producers face pushback over odour, smell in Canadian farming town

David Ireland is frustrated by the “skunk smell” of pot that wafts down from two cannabis cultivation facilities roughly five kilometres away and lingers outside his home, even in the winter.

“On hot humid days, it’s worse because they have to vent more often … You wouldn’t be able to open your windows,” he said.

The town of Pelham, Ont., where Ireland lives — an hour away from Toronto, near Niagara Region wine country — has become a hotbed for legal commercial pot growers who have snapped up greenhouses and converted them from flowers and vegetables to the more lucrative crop.

Mon
14
Jan

2018 was a good year for cannabis. What does that mean for 2019

2018 was an exciting time after the whirlwind of events that happened surrounding cannabis spurred the growth of the flourishing sector that people know today. For a quick summary, take a look at some of the most notable accomplishments, breakthroughs, and controversies of the recent year.

It was a successful time for the cannabis sector in spite of a rough start with the Attorney General Jeff Sessions’ attempt to put a halt on the legalization plan in the United States. During that time, Prime Minister Justin Trudeau pledged at his campaign to legalize recreational use of cannabis in Canada.

After that, Thailand and the United Kingdom has followed suit and legalized medical marijuana, much to the world’s surprise.

Mon
14
Jan

Ontario town says hosting pot producers 'like a two-edged sword'

David Ireland is frustrated by the "skunk smell" of pot that wafts down from two cannabis cultivation facilities roughly five kilometres away and lingers outside his home, even in the winter.

"On hot humid days, it's worse because they have to vent more often ... You wouldn't be able to open your windows," he said.

The town of Pelham, Ont., where Ireland lives -- an hour away from Toronto, near Niagara Region wine country -- has become a hotbed for legal commercial pot growers who have snapped up greenhouses and converted them from flowers and vegetables to the more lucrative crop.

Mon
14
Jan

Cannabis retail lottery winners may not be prepared, industry insiders warn

The overwhelming success of individuals who won a chance at opening one of Ontario’s first cannabis dispensaries could mean that few of these aspiring retailers will be able to open by the April deadline, say marijuana industry insiders.

The Alcohol and Gaming Commission of Ontario (AGCO), the province’s pot regulator, on Friday provided a breakdown of the individuals and companies who applied to a lottery for a chance to get a cannabis retail licence.

Nearly two-thirds of the applicants were sole proprietorships – essentially individual entrepreneurs – while the remaining submissions came from corporations and partnerships.

Fri
11
Jan

Pot packaging company sees significant growth with legalization

A strain on cash and operations is not a bad thing

CEO Nick Kovacevich has acknowledged that with the sudden growth in sales has added to the company's supply struggles. "While we are confident in the Company's upward trajectory, we acknowledge the impact that our dramatic growth has had on our gross margins, in particular, the utilization of air freight and additional cost incurring quality-control measures at our receiving warehouse to meet demand," he said.

With large markets opening in California and Canada, the company's operations are a bit strained and at the end of November 2018, the company had just $3 million in cash and equivalents on its books, down from the $13.5 million it had in August. But having these kinds of problems isn't necessarily a bad thing.

Fri
11
Jan

Higher price of legal pot, lack of convenient supply driving consumers to unlicensed dispensaries

The price of pot has jumped since recreational use was legalized — and that, along with patchy supply issues, has kept many customers relying on unlicensed suppliers.

A new Statistics Canada study found that the cost of cannabis has risen more than 17 per cent since legalization last October. Since then, only half of the purchases recorded in the study were from legal suppliers — suggesting the other half came from unlicensed dispensaries or dealers.

The two findings are linked, believes Matei Olaru, CEO of the cannabis-focused technology and media company Lift & Co.

Thu
10
Jan

Weed was ablaze in 2018; 2019 could burn even brighter

2018 was a pivotal year for pot, with both the legalization and legitimization of the drug gathering steam.

Beginning with Australia giving the green light to cannabis exports, and ending with the New Zealand government announcing it will hold a referendum on recreational pot legalization in the next general election come 2020, 2018 saw an increasing mainstream acceptance of weed.

Thu
10
Jan

Price of pot is up since legalization, StatsCan finds

The price of pot has risen more than 17 per cent since it became legal for recreational use, according to Statistics Canada.

With more folks lighting up, and thorny supply issues in some provinces, the price has jumped to $8.02 per gram from $6.83.

Using an updated version of its crowdsourcing app, Statistics Canada collected price information prior to legalization Oct. 17, and compared it to the average price between that day and the end of 2018.

Of the 385 price quotes it used from that period, half of those purchases were from legal suppliers. 

Legal pot costs more. The average price for dried cannabis from a legal supplier was $9.70 per gram, compared to $6.51 from illegal suppliers.

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