Recreational Marijuana News

Synonyms: 
lifestyle
recreational
Thu
15
Nov

Canadians divided over legal age for marijuana, Angus Reid institute poll suggests

Almost a month into Canada's waltz with legal weed, a new poll suggests Canadians are divided when it comes to the age to buy and consume marijuana.

The federal government set the minimum age for recreational cannabis at 18, but left it up to the provinces and territories to decide if it should be higher. At the moment, it's 19 in most provinces and territories, while Alberta and Quebec have set it at 18.

A new survey from the Angus Reid Institute, however, found that while 27 per cent of respondents agree that the minimum age should be 18, a similar number of correspondents (26 per cent) want it to be 21. Some want it even higher than that — 13 per cent said the legal age should be older than 25.

Thu
15
Nov

Is the cannabis bubble finally popping?

Pot stocks have been trading at very high multiples to sales for a long time and even a lack of profitability has done little to curb excitement in the industry. However, we’re starting to see signs of that changing.

This week, many marijuana companies are reporting their earnings, and the results have been very telling, as investors have not been buying up stocks that have simply achieved strong sales growth.

On Tuesday, Cronos Group (TSX:CRON)(NASDAQ:CRON) released its quarterly results, which showed sales rising by 186% year over year. However, the company reported a net loss of over US$7 million, which was a big drop off from the profit it achieved a year ago.

Thu
15
Nov

Expect no quick end to Canada-wide cannabis shortages, producers warn

The supply shortages that have plagued many provinces in the first month of legal cannabis will likely persist for years, industry insiders say.

Provinces including British Columbia, Alberta, Manitoba, Saskatchewan, Quebec, Nova Scotia and New Brunswick have all reported varying degrees of shortages.

Thu
15
Nov

Pot stocks: Still 'better at growing their bank accounts than growing cannabis'

It could be a $146 billion sector in less than a decade, but for investors whose interest has been piqued by cannabis stocks, there is still no reason to rush into the publicly traded companies.

Thu
15
Nov

Sproutly Canada announces partnership with Caribbean’s largest medical cannabis producer

Sproutly Canada, Inc.’s move to establish a joint venture with Global Canna Labs Limited, the Caribbean’s largest medical cannabis producer, allows the Vancouver-based company to advance its vision and expand its business outside Canada.

The companies have signed a letter of intent (LOI) to establish a joint venture that will focus on developing, producing, distributing, marketing and selling cannabis-infused beverages, edibles and topical products derived from Sproutly’s fully licensed APP Technology.

“The signing of the definitive agreement and establishment of the joint venture is expected to occur in January 2019,” notes a statement from Sproutly.

Thu
15
Nov

Can artisanal weed compete with 'Big Marijuana'?

You’ve heard of Big Pharma and Big Tobacco. How about Big Marijuana?

The drug’s growing legalization is raising concerns among small-scale marijuana farmers and retailers that the corporatization of weed may be right around the corner.

For example, earlier this year NASDAQ became the first major U.S. stock exchange to list shares of a marijuana production company. And in August, Corona-maker Constellation Brands shocked Wall Street by making a US$3.8 billion investment in a Canadian marijuana producer, sparking a bull market in marijuana stocks industry-wide. Even Coca-Cola is exploring opportunities to get involved.

Thu
15
Nov

Clock ticking to make local decisions on allowing pot shops

As municipal councils prepare to wrap up sessions with outgoing representatives and welcome newly-elected members, there are few meeting dates left for cities or townships to hold discussions ahead of the deadline set by the province to decide whether there should be a government marijuana store in their community.

The provincial government has set a deadline of Jan. 22, 2019 for municipalities to opt out of having a local cannabis retail store.

Thus far, only Guelph and North Dumfries have set dates for the issue to come before council. North Dumfries council will debate the issue on Dec. 10 while Guelph has it scheduled it for Dec. 17.

Wed
14
Nov

Canadian pot prices to plummet amid soaring demand: Analyst

Canadians should expect pot prices to plummet in the coming years as more companies produce legal marijuana, with demand for cannabis flower expected to surpass 1 million pounds by 2022, according to one leading cannabis analyst.

Tom Adams, managing director of industry intelligence at BDS Analytics, a cannabis industry analysis firm, said Canadian marijuana prices should tumble in line with how the legal market performed alongside black market players in other markets such as Colorado. The price of pot has declined in that state by over 50 per cent in the past five years.

Wed
14
Nov

Province Brands of Canada announces agreement with Brock Street Brewing Company

Province Brands ofCanada — the Canadian company developing the world's first beers brewed from the cannabis plant, including nonalcoholic beers which intoxicate using THC and other phytocannabinoids (to be released only when and where the sale of marijuana beverages are permitted by law) and Cambridge Bay Imperial Pilsner , a first-of-its-kind, 7% ABV imperial pilsner brewed from hemp in place of barley (which does not contain marijuana) — announces a co-packing and

Wed
14
Nov

Cannabis industry is facing a shakeout, Aphria president says

There’s a shakeout coming to the Canadian cannabis industry and mid-sized companies may find it hardest to survive, according to the new president of Aphria Inc.

“There will be a group of companies at the top, the big producers, and some smaller producers at the bottom, like craft beer,” Jakob Ripshtein said in an interview at Bloomberg’s Toronto office. “I suspect there will be some in the middle who will be very challenged to stay around.”

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