Canada

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Thu
21
Mar

HEXO's acquisition shakes up the top 11 marijuana growers list

If you're looking for one of the fastest-growing industries on the planet, you've found it with legal marijuana. It has generated less than $10 billion in annual sales worldwide in 2017, but investment bank Cowen Group is calling for up to $75 billion in global sales by 2030. For those of you keeping score at home, that's a compound annual growth rate of about 17% for 13 years. Because the industry is still relatively nascent, it means there's a lot of market share up for grabs on the recreational and medical side of the equation. This has meant that growers have been particularly aggressive expanding their production capacity organically, through partnerships, or by acquisition.

Thu
21
Mar

Saskatchewan Budget 2019: Province expecting marijuana tax revenues to bring in $5M

The Government of Saskatchewan is banking on pot sales to make a small contribution to this year's bottom line.

The 2019-20 budget estimates the province will make $5 million this year, the first full year of legalization.

The province expects PST on pot sales will bring in $2 million while federal excise tax is expected to account for $3 million.

For the province to generate $2 million in PST, total pot sales would need to equal $33.3 million. in the first three months of legalization, Saskatchewan trailed the rest of the country in sales, bringing in only $2.5 million.

Like many jurisdictions, Saskatchewan marijuana sales were hindered by supply problems in the first months of legalization, with many stores closed due to lack of product. 

Thu
21
Mar

3 pot stocks with skyrocketing short interest

Since the year began, the marijuana industry has seemingly done no wrong. Following the legalization of recreational marijuana in Canada in mid-October, Wall Street is projecting that global weed sales could top $50 billion in roughly a decade's time. And with a compound double-digit annual growth rate comes some very lofty expectations from investors.

Wed
20
Mar

Local approval on pot use reaching new high

Months after marijuana sales became legal, public approval has reached a new high.

Close to 70 per cent of Lethbridge residents in the 18-to-29-year category now agree with the policy change, along with 57.2 per cent of all the men and women surveyed.

And a new study shows more than 90 per cent supported the drug’s use for medical purposes.

Public support for recreational use has increased from 43.9 per cent just four years ago, observes political scientist Faron Ellis. Under his supervision, students at Lethbridge College conducted a comprehensive “public policy” study in February.

It also found public support rising on several other issues in Lethbridge, including doctor-assisted death, same-sex marriage and a woman’s right to seek an abortion.

Wed
20
Mar

Cannabis investors eye Uruguay in push for global weed exports

Serious marijuana money is starting to show up in Uruguay.

Almost six years after the South American country of 3.4 million people legalized cannabis, investors are betting Uruguay can become an export hub for medical marijuana as the industry expands around the world.

Silverpeak Life Sciences Uruguay Inc, one of the largest companies in the country’s nascent medical marijuana industry, is in talks with investment bankers to raise US$35 million this year to quadruple production and build a larger extraction lab in 2020, according to chief executive officer and U.S. cannabis investor Jordan Lewis.

"Our planned and desired expansion would be about 25 tons next year and that should push us above US$100 million in revenue," Lewis said.

Wed
20
Mar

Smoking strong pot daily raises psychosis risk, study finds

Smoking high-potency marijuana every day could increase the chances of developing psychosis by nearly five times, according to the biggest-ever study to examine the impact of pot on psychotic disorder rates.

The research adds to previous studies that have found links between marijuana and mental health problems, but still does not definitively pinpoint marijuana as the cause.

Psychotic disorders -- in which people lose touch with reality -- are typically triggered by factors including genetics and the environment. But experts say the new study's findings have implications for jurisdictions legalizing marijuana, warning they should consider the potential impact on their mental health services.

Wed
20
Mar

Canadian marijuana stock powers higher on financing

A financing arrangement with a Big Canadian bank boosted a Canadian marijuana stock Tuesday. Here’s some small stocks making big moves on Tuesday, March 19, 2019 (as of 11:30 am EST):

Eve & Co Incorporated (TSXV:EVE), a Canadian marijuana stock, jumped 13% to $0.51 on Tuesday after announcing that it has entered into an $18.7 million construction facility with Royal Bank of Canada to fund the completion of the 780,000 sq. ft. expansion of Eve & Co’s greenhouse production facility located in Middlesex County, Ontario.

Wed
20
Mar

3 marijuana stocks to watch this spring

The cannabis stock sector is currently the hottest sector, and you can make big money by buying pot stocks.

However, while there are many companies that are trading publicly to choose from, you should be careful, because not all of them will survive in the long term.

To help you in your choice, I’m presenting three promising pot stocks that could boom in the coming months.

Wed
20
Mar

New Brunswick companies eager to bite into cannabis edibles market

The owner of Thunder Hill Bakery in Grand Bay-Westfield is planning a reinvention of her signature cupcakes and muffins — with a cannabis twist.  

Jenn Guimond plans to open a second business, one that will showcase recipes using marijuana extracts that she makes at home.

Her new line of baked goods will include both the non-psychoactive CBD oil as well as THC, which does cause the "high." 

Sometimes she takes her cooking classes on the road and teaches neighbours what they can legally do in their own kitchens with their own pot.  

She says most of the interest is coming from people over 65. 

"It's other people's grandmothers," said Guimond, icing a tray of sugar-free, gluten-free, keto-friendly vanilla bean cupcakes infused with CBD. 

Wed
20
Mar

HEXO (TSX:HEXO) is now a top marijuana stock

The marijuana industry is in the midst of an impressive comeback. After crashing post-legalization, the Canadian Marijuana Index is now up 53% year to date. One company that has been making headlines for all the right reasons is HEXO (TSX:HEXO).

In 2019, the company has surged almost 90% and is among the big winners of the year. In the past week alone, the company’s share price has jumped almost 10%. Why? It has been a transformative week for the company.

Prior to releasing strong second-quarter results, the company announced a deal to acquire Newstrike Brands.

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