Marijuana Business News

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Thu
26
Jul

Pot-related charges at all-time low as legalization nears

The number of people charged with marijuana-related crimes in Canada last year was at the lowest level in 20 years, continuing a six-year downward trend as the legalization of the drug approaches.

According to police-reported crime statistics released Monday by Statistics Canada, about 13,800 people were charged with possession of marijuana in 2017, which will mark the last full year that pot will be illegal.

This compares to 28,000 people who were charged with possession in 2011.

Thu
26
Jul

Willie Nelson’s marijuana brand is said to be coming to Canada

One of Colorado’s largest recreational pot companies is planning to bring Willie Nelson’s marijuana brand to Canada and go public in Toronto, according to people familiar with the matter.

LivWell Enlightened Health LLC is planning a series of deals that include taking over management of a Calgary-based cannabis firm and a reverse takeover of investment company Target Capital Inc., said the people, who asked to not be identified because the matter isn’t public.

It is also changing its name to LivWell International and striking a side deal that will give it perpetual distribution rights in Canada to Willie’s Reserve, the U.S. country singer’s namesake marijuana brand, they said. The transactions could be announced as soon as Monday.

Thu
26
Jul

This hot marijuana IPO should be the next to join Canada's 100,000 kilogram club

Cross off yet another "marijuana first" for 2018. So far this year we've witnessed:

Thu
26
Jul

Cannabis legalization forces 14 RCMP sniffer dogs into early retirement

RCMP police dog Klotz poses next to seized marijuana in an RCMP handout photo. There are a number of police dogs across the country who will be out of a job before October 17, as the RCMP prepares for cannabis legalization.

Earlier this month, the RCMP threw a retirement party in St. John's, N.L., for a Labrador retriever named Luke.

As the saying goes, you can't teach an old dog new tricks, and as cannabis legalization approaches, that puts Luke and other dogs like him out of work.

Luke, who sniffed more than five million of dollars' worth of drugs during his time on the force, is one of 14 canines across the country who will be out of a job before October 17.

Thu
26
Jul

Big investors backing a global marijuana boom In 2018

Imagine being able to take a few million dollars in start-up capital and turn it into $193 million in just 6 months.

Well, that’s what a small Canadian investment company is about to do.

And in the process, it’s made a big success of its business strategy.

The company is Scythian Biosciences Corp. (TSXV: SCYB.V; OTC:SCCYF), a Toronto-based investment firm building a global cannabis network.

Thu
26
Jul

Canadian cannabis stocks poised to snap back

The Canadian cannabis stocks we’ve dug up have been largely oversold over the past two weeks, providing a cheaper entry into the space

SmallCapPower | July 26, 2018: Relative Strength Index (RSI) is a measure of price momentum. High values above 70 indicate that a stock may be overbought, while low values below 30 indicate it may be oversold. Over the last month, many cannabis stocks have seen a consistent decline in their prices on increasing volumes. The Horizons Marijuana ETF has declined by 15.4% in the past 30 days, suggesting a sector-wide correction. During the past two weeks, the Canadian cannabis stocks on our list have posted an average RSI of 14.5, providing investors with a potentially cheaper entry into the industry or a possible swing trade on the rebound.

Thu
26
Jul

Aurora Cannabis and MedReleaf close the world's largest cannabis industry transaction

Aurora Cannabis Inc. ("Aurora") (TSX: ACB) (OTCQB: ACBFF) (Frankfurt: 21P; WKN: A1C4WM) and MedReleaf Corp. ("MedReleaf") (TSX: LEAF) today announced the closing of the previously announced arrangement agreement (the "Arrangement Agreement"). Under the terms of the Arrangement Agreement, holders of MedReleaf common shares received 3.575 common shares of Aurora for each MedReleaf common share held (the "Exchange Ratio").

Upon closing of the transaction, Aurora will submit applications with the Toronto Stock Exchange (the "TSX") and the Ontario Securities Commission (the "OSC") to delist MedReleaf's existing common shares and for MedReleaf to cease to be a reporting issuer, respectively.

Thu
26
Jul

Got experience in cannabis and customer service? The BC government is hiring

Kamloops will be home to British Columbia's first government-run cannabis store this fall — and it's now looking for staff.

A job fair is being held this week for positions at the shop ahead of the legalization of recreational marijuana in October.

"We are on the lookout for quite a few people," said Kate Bilney of the B.C. Liquor Distribution Branch, which is overseeing the sale of cannabis in the province. About 20 people are needed for the first store, she said, from managers to assistants to cannabis consultants.

Experience in a legal grey zone

In any job posting, previous experience is a must. But when it comes to the budding cannabis industry, it's a challenge.

Wed
25
Jul

First cannabis beer being brewed in Canada

Scientists from an Ontario laboratory are developing what can be described as the world’s first beer to be brewed from cannabis. Most cannabis-infused beers that are currently on the market are brewed from barley and infused with cannabis oil but this beer is brewed from the stalks, stem and roots of the plant.

The company is called Province Brands, a startup based in Toronto.

“I don’t think there was anywhere else in the world where we could do this business,” said Dooma Wendschuh of Province Brands. “Canada is already leading the world in creating an industry around medical cannabis and we expect them to continue to lead the world in trading and industry around adult-use cannabis.”

Wed
25
Jul

Aurora Cannabis employee benefits plan now reimburses medical cannabis

Aurora Cannabis Inc. is proud to announce that effective August 1, 2018, the company will offer a new employee benefits plan that will include coverage for medical cannabis authorized by a physician or nurse practitioner.

The new benefits plan, administered by Sun Life Financial, will allow employees and their dependants to receive coverage for medical cannabis under the Extended Health Care plan.

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