British Columbia

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BC
B.C.
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Fri
18
May

Billions at stake in BC, marijuana forum told

The legalization of cannabis will create thousands of jobs, bring in billions of dollars and represent an added bonus for the tourism industry, economic and tourism leaders said at a cannabis legalization forum Thursday in Kelowna.

“Take away all the health issues, it’s a product and there’s an opportunity for economic development,” said Dan Rogers, executive director of the Kelowna Chamber of Commerce.

Niche Canada, a not-for-profit organization established to assist in the transition to the legalization of cannabis, hosted the forum at the Rotary Centre for the Arts.

Cannabis legalization will create between 50,000 and 150,000 jobs across Canada, said David Purcell, director of emerging business at Kwantlen Polytechnic University.

Fri
18
May

Valens Groworks clinches cannabis supply deal with Speakeasy Cannabis Club

Encouraging news from Valens Groworks today, which announced that it has signed a partnership agreement with Speakeasy Cannabis Club.

"This partnership with Speakeasy dovetails neatly with our expansion objectives. As a specialist in the extraction of cannabis, Valens creates some of the best oils in the world, with our proprietary process creating a product that is clear, transparent 100% cannabis oil,” said Valens chief executive officer, Tyler Robson.

As well, Speakeasy is going to source 2500-5000kg of cannabis per month for Valens.

Fri
18
May

Canadian organizations band together to fight for craft cannabis

A collective of Canadian organizations will present an open letter to the provincial and federal justice ministers tomorrow morning (May 18) to sound the alarm on regulations that would stifle the country’s craft cannabis industry.

“The timing is good right now because it’s right in the middle of the B.C. Legislative process. We think there is still time to make these changes and make it possible for the B.C. cannabis sector to survive,” says Michael Davis, spokesperson for the Ethical Cannabis Producers Association.

Fri
18
May

Councillor De Genova's marijuana motion goes up in smoke…for now

NPA councillor wants cannabis at pot shops to come from Health Canada-approved producers.

You may have heard that NPA Coun. Melissa De Genova introduced a motion at city council this week in an effort to take a bite out of organized crime’s involvement in marijuana dispensaries.

You probably didn’t hear that her motion went up in smoke…for now.

You probably didn’t hear because you were not in the council chamber at 10 p.m. Wednesday, or watching the livestream from your computer when debate on the motion came to a halt after De Genova’s NPA colleague, Hector Bremner, voted against extending the meeting beyond 10 bells.

As a rule, council has to be unanimous in wanting to go beyond 10 p.m.

Why did Bremner do it?

Fri
18
May

Legalizing cannabis a monumental shift

The process of making pot-production and sales a legitimate industry can best be described as “hurry up and wait,” said the City of Vernon manager of economic development and tourism.

Kevin Poole says the regulatory framework for a legalized cannabis industry being developed by federal and provincial governments has raised many cost issues for their civic counterparts, and has raised questions ranging from how to train and educate the industry workforce to tourism marketing opportunities.

“This industry will be about creating partnerships and right now the provincial government is a bit slow out of the gate on developing a framework for how this is going to unfold,” Poole said.

Fri
18
May

This pot-paraphernalia company promises a great party if you pledge to hold its stock for three months

Namaste Technologies Inc., the owner of online stores that sell vaporizers and bongs, is taking unusual steps to stabilize its share price and thwart an attack on its business by short-sellers.

The small Vancouver company is asking its investors to promise that they won’t sell their shares over the next three months. And as a thanks for those who show proof that they held their shares, Namaste says it’s going to throw a big party at the end of the summer.

Namaste investors have had little to celebrate of late. The stock fell 2.35 per cent on Thursday to $1.66, well below its late December peak of $4.40 amid a sector-wide sell-off.

Fri
18
May

Vancouver Island city demands pot dispensaries directly fund bylaw, policing, education costs

The City of Langford wants recreational cannabis retailers in the municipality to help cover the costs of regulation, enforcement and education around the drug. 

Langford has previously been hostile to the idea of dispensaries, but council is now accepting proposals for up to five recreational stores to operate when marijuana becomes legal later this year. 

The city says applicants must detail the direct financial contributions they plan to make to policing and administration.

Fri
18
May

A test for pot potency from UBC Okanagan

Researchers develop faster test for cannabis quality.

With pot legalization on its way, producers are increasingly looking for quick and accurate means of determining the potency and quality of their plants.

Researchers at UBC’s Okanagan campus have developed a new method of measuring phytocannabinoids—the primary bioactive molecules in cannabis—that will lead to faster, safer and more accurate information for producers, regulators and consumers alike.

Fri
18
May

Affinor Growers signs definitive license agreement with Canadian marijuana producer license applicant

Affinor Growers Ltd. (“Affinor Growers”) (CSE:AFI) (OTC:RSSFF) (Frankfurt:1AF) is pleased to announce it has signed a definitive license agreement , with a later stage Licensed Producer Applicant in British Columbia. The license represents royalties of 3% of all products grown using the patented technology and gives the exclusive rights for Vancouver Island for Fruits, Vegetables and Marijuana once the Health Canada license is achieved, to grow, process, import and export Marijuana.

Thu
17
May

Village Farms is trading at a major discount to its cannabis peers, Echelon Wealth says

Greenhouse grower Village Farms International (TSX:VFF) may not be a cannabis space household name like Canopy Growth and Aurora Cannabis, but the BC-based company should be getting more respect based on its proven crop-growing chops, says Russell Stanley of Echelon Wealth Partners.

In a research report on Tuesday, the analyst maintained his “Speculative Buy” rating and C$13.00 target price for VFF, representing a projected return of 123 per cent.

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