Marijuana Business News

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stocks
business
Fri
18
Oct

O'Cannabis: On the first anniversary of legalization, a cross-country snapshot of where we stand

October 17, 2019, marks the first anniversary of the legalization of cannabis federally in Canada, and the date when the second phase of products — edibles, extracts, topicals and some other alternative cannabis products also become legal. 

Each province and territory were handed the reins for rolling out legalization, and the results in terms of access to legal marijuana are very different for Canadians depending on where they live. This has also had an impact on consumption patterns.

Fri
18
Oct

Head of Quebec's SQDC vows to provide cheaper pot and no lineups

One year into the legalization of marijuana, the SQDC plans to reduce prices, eliminate lineups, bring in cannabis drinks and continue to take business away from the black market.

The head of the Société québécoise du cannabis gave a sit-down interview to the Gazette to mark the first anniversary of legalized cannabis in Canada on Thursday. SQDC president and director Jean-François Bergeron said ending the lineups at its busiest store, in downtown Montreal, is a top priority.

“Queues are not good. Good stores run without queues. We have worked a lot to get rid of these queues; they’re not good for our image.”

Fri
18
Oct

PEI turns a profit in first year of running island's legal pot shops

As the first year of federal legalization in Canada draws to a close, many provinces are struggling in their new role as cannabis sellers.

One province, however, is feeling pretty darn good about their performance — financially, in particular.

“A lot of different folks from a lot of different areas in government came together to make this happen,” Prince Edward Island’s director of cannabis operations Zach Currie told CBC News.

Thu
17
Oct

Cannabis industry contributed to spike in home prices, housing shortages: survey

Canada’s booming cannabis industry has led to a spike in housing prices and home shortages in some regions, according to a new report from RE/MAX.

For example, Smiths Falls, Ont. -- home to Canopy Growth, which Bloomberg dubbed the largest cannabis producer in the world -- now employs 1,300 people.

An unintended consequence of that employment growth is a shortage of available homes.

Thu
17
Oct

Yukon shuts government-run cannabis shop as private sector lights up

One year to the day after it opened, Yukon’s government-run cannabis store is closing shop.

The move is a sign of success, not failure, as the private sector has developed the industry to the point where the Cannabis Yukon store is no longer necessary.

“It went off exactly as we thought,” John Streicker, the minister responsible for the Yukon Liquor Corp, told Yukon News. “In addition to legal, controlled access to cannabis, the retail store has provided detailed product and health information to help Yukoners make informed decisions and engage in responsible consumption.”

Cannabis Yukon, which has sold just under $4-million of marijuana since its grand opening, has been replaced by two new stores — Triple J’s Canna Space in Whitehorse and Dawson City Cannabis.

Thu
17
Oct

Would-be London pot shop chopped as regulator lottery winner disqualified

A winner from Ontario’s second pot lottery who was planning to open a cannabis retail store in northwest London has been disqualified.

Robert Chomiak submitted a proposal to open a recreational pot shop in a commercial plaza at 1310 Fanshawe Park Rd. W. in Hyde Park.

There already are three brick-and-mortar marijauana stores operating in London – the only municipality in Southwestern Ontario to land any of the first 25 outlets – and the city was on track to score another two following the second lottery in the summer.

But Chomiak’s application – one of 42 selected from nearly 5,000 expressions of interest – was disqualified last Thursday, says the Alcohol and Gaming Commission of Ontario (AGCO), the province’s pot regulator.

Thu
17
Oct

As 'Cannabis 2.0' kicks off in Canada, industry strangled by limited retail outlets

A year after Canada legalized use of recreational marijuana cannabis stocks have lost half their market value, and investors betting that the launch of higher-margin pot-infused drinks and other products will quickly lift shares may be in for a bumpy ride.

So-called cannabis 2.0 - legalization of marijuana derivatives including edibles, beverages, extracts and vape pens - takes effect on Thursday, with sales seen beginning in mid-December. While that is expected to help sagging share prices, the crucial factor for a turnaround is a significant increase in the number of stores selling the products, investors, companies and analysts said.

Thu
17
Oct

A year later: Alberta cannabis use up 25%, 500 pot stores likely by 2021

Alberta could host 500 cannabis stores within two years, says an official with the provincial regulator that’s been busier than any in Canada approving the outlets.

One year past the end of cannabis prohibition, Calgary already has more cannabis stores — 66 — than any other city in Canada, with Edmonton second at 48.

Another 154 locations have been approved in Calgary.

Thu
17
Oct

Vaping health concerns cast haze over cannabis market expansion

Public health concerns over vaping have cast a haze over expansion excitement in the cannabis market.

The production and sale of cannabis derivatives — edibles, extracts, topicals and vape products — become legal Thursday on the one-year anniversary of the legalization of recreational cannabis.

Licence holders need to give 60 days notice to Health Canada that they intend to sell the products, so they won’t land on store shelves until mid-December.

Some cannabis companies in Canada are anticipating a substantial increase in sales, but Christopher Carlsten said he would have liked to see legalization of cannabis vaping products postponed, or at the very least have significantly more public education about it.

Thu
17
Oct

Canadian Cannabis company will sell marijuana for less than $5 per gram

Weed smokers living in Quebec are about to see much lower prices in the legal market. Starting tomorrow, cannabis company HEXO is rolling out a new line of ultra-affordable flower.

Ultimately, the new product line will give Canadians a chance to purchase larger quantities of weed. Additionally, the weed will be sold at super-low prices that work out to be less than $5 per gram.

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