Hexo CEO calls for more pot shops in Ontario, Quebec in profit push

Hexo Corp. has a plan to become profitable, but getting there will require an influx of newly-licensed pot shops to open in Canada's biggest consumer markets, the company's chief executive officer said Thursday. 

"Our plan to achieve adjusted positive EBITDA by the end of the calendar year will depend on the growth of retail stores in our two largest markets, Ontario and Quebec," said Sebastien St-Louis in a conference call with analysts.

"We need the governments to either continue to build out the retail infrastructure, or allow the private sector to provide the service that consumers demand."


SQDC: Montreal will have same-day delivery of legal weed by July

Montrealers can expect same-day delivery of


5 Reasons Cannabis 2.0 Sales Will Disappoint in Canada

For years, marijuana stocks were virtually unstoppable. The prospect of $50 billion or more in annual worldwide sales by 2030 sent North American cannabis stock valuations into the stratosphere. But over the past 13 months, most pot stocks have seen their valuations retrace anywhere from 50% to 95%. It's been ugly, with a capital "U."


TGOD to suspend Quebec production, lay off staff to further cut costs amid COVID-19

The Green Organic Dutchman (TGOD) is the latest Canadian cannabis company to scale back its operations in light of the COVID-19 pandemic.

The Toronto-based cannabis producer said in a statement late Wednesday it will postpone production at its facility in Valleyfield, Que. and temporarily lay off staff, but noted it intends to restart its operations later this year. The company will also reduce salary by 20 per cent for its salaried employees and 30 per cent for certain executive staff and place a freeze on hiring and consultancy work.

"Multiple factors, most particularly the COVID-19 pandemic, are contributing to an environment in which we must be extremely prudent with how we manage our cost structure," said TGOD chief executive officer Brian Athaide.


Where to buy weed during the COVID-19 pandemic

Approximately 4,000 times these past two weeks, I’ve thanked my lucky stars cannabis was legalized before the COVID-19 pandemic swept the globe and sent us all cowering in our bong dens.


Cannabis extract prices vary 'wildly' between provincially run stores

A CBC News analysis has revealed the price of cannabis extracts varies widely across Canada, with the same product sometimes costing two to three times more in one provincially run online store than another.

The inconsistencies, experts say, could undermine efforts to wipe out the country's illegal market. 

The analysis looked at the price of 61 cannabis capsules, sprays and oils available in Ontario's provincially run online retailer in December 2019. 

Those products were then matched with their counterparts from the online provincial retailers in British Columbia, Alberta, Quebec, Nova Scotia, New Brunswick, Prince Edward Island and Newfoundland and Labrador — provinces where the government is an official distributor and runs an online mail-order site.  


Quebecer gets lightest sentence in Newfoundland drug-trafficking network

A Morin Heights drug trafficker who supplied several kilograms of cocaine and cannabis to dealers in Newfoundland ended up with the lightest sentence meted out to people involved in the network because a Montreal judge determined he has already rehabilitated himself.

Alexandre Préfontaine, 37, was all smiles and patted his lawyer, Christian Gauthier, on the back Wednesday after they left the courtroom where Quebec Court Judge Linda Despots decided the repeat offender should only be required to serve a 90-day sentence on weekends beginning Feb. 8. The prison term will be followed by three years of probation. Préfontaine is also required to perform 200 hours of community service.


A guide to Quebec's unique, evolving cannabis laws

The government of Quebec is known for taking a unique approach to law-making, informed by French culture, history, sovereignty and language rights. Those laws can be confusing to outsiders who aren’t familiar with the territory – and cannabis regulation is no exception.

There’s no question that Quebecers love weed, but that appetite doesn’t seem congruent with the province’s legislation surrounding the drug. Just recently, legislators bumped the minimum age to buy cannabis from 18 to to 21 – the highest in the country.


Is popular cannabis stock HEXO a buy in 2020?

The cannabis industry was supposed to be unstoppable in 2019, with Canada launching derivatives and a number of U.S. states delivering strong organic growth. But reality hadn't come close to matching the perception by the time the curtain finally closed.

Following a red-hot first quarter that saw more than a dozen pot stocks gain at least 70%, cannabis companies finished the remainder of the year in a steep nine-month downtrend. Persistent supply issues in Canada, exorbitant tax rates on cannabis in select U.S. states, and a huge black market presence have all made life difficult for North American pot stocks.


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