British Columbia says it is looking into measures to support adult-use cannabis businesses during the COVID-19 crisis, including the possibility of allowing stores to conduct online sales and delivery. Privately owned cannabis stores in the province are allowed to accept product reservations online, but payment must be received in stores. Delivery is not allowed. The […]
Read More
EMAIL: [email protected]
PHONE: 720.699.0794
PHONE: 720.699.0794
Ontario considering cannabis lounge feedback; ‘no time frame’ for changes
Ontario’s Ministry of the Attorney General is still considering comments and submissions it received for expanding business opportunities in the regulated cannabis industry – including allowing marijuana consumption cafes and special-occasion permits. The public consultation period closed March 10. “While the regulatory registry posting has closed, the Ministry continues to consider comments received through this […]
Read More
Guam cannabis board plans virtual meeting to finalize rules amid COVID-19
Guam’s Cannabis Control Board expects to hold a meeting in the coming weeks to finalize a regulatory framework governing the territory’s adult-use marijuana industry. The rules, due by early April, have been delayed as some of the board’s members were addressing issues related to the COVID-19 crisis. Now that the virus is under control, the […]
Read More
Jamaica plans to maintain ‘functional’ cannabis market amid pandemic
Jamaica published details about the “Business Continuity Plan” it has implemented to maintain a functional and expanding cannabis industry amid the COVID-19 pandemic. Part of the plan involves the Cannabis Licensing Authority (CLA) using “remote” means to monitor harvests and other medical cannabis operations. “This is to allow for the continuity of activities on licensed […]
Read More
British Columbia books record tax revenue from cannabis sales
British Columbia’s monthly share of the federal excise duty on adult-use cannabis hit a fresh high as the province continued to execute its plan to greatly expand the number of privately and publicly owned marijuana stores. For December, British Columbia’s share of the federal excise tax was 2.5 million Canadian dollars ($1.8 million) – the […]
Read More
Aurora Cannabis follows through with promised US entry via $40 million hemp deal
Canadian producer Aurora Cannabis has struck a $40 million stock deal to purchase U.S. hemp firm Reliva, checking off a long-stated ambition for the Alberta company’s executives to enter the United States market. Under the terms of the acquisition, Aurora will pay $40 million of its common shares. The company will pay an an additional […]
Read More
Korean sovereign fund buys into cannabis as Canadian fund slashes Canopy stake
South Korea’s sovereign wealth fund bought up three Canadian cannabis stocks as they dipped to 52-week lows in the first quarter of 2020. Though the value of the cannabis holdings is a modest $8 million, it is the latest sign the stigma associated with the legal industry is slowly eroding in international finance circles. Seoul-based […]
Read More
Ontario’s ‘virtual inspections’ of cannabis stores keep industry growing
Cannabis store entrepreneurs are crediting Ontario’s regulator for its quick transition to a virtual inspection regime amid the coronavirus pandemic, saying the move has been key to increasing the number of legal stores in a province facing a serious retail shortage. The Alcohol and Gaming Commission of Ontario (AGCO) has conducted hundreds of virtual inspections […]
Read More
Ontario cannabis stores start reopening; delivery and curbside pickup extended
An emergency provision temporarily allowing privately owned cannabis stores in Ontario to offer home delivery and curbside pickup has again been extended by the provincial government, and retailers are now allowed to open their doors under certain stipulations. The emergency order – set to expire May 19 – was extended to May 29. Licensed cannabis stores in […]
Read More
Aurora Cannabis selling huge Ontario greenhouse for half of asking price
Aurora Cannabis, deep in the red, accepted an offer for its large greenhouse in Exeter, Ontario for what appears to be approximately half of its 17 million Canadian dollar ($12.1 million) listing price, and one-third of the original purchase price. The deal comes amid a broad retreat from some unlicensed and fully licensed cannabis greenhouses […]
Read More
Aurora Cannabis trims loss to CA$137M, says CEO search on track
Aurora Cannabis improved its net loss to 137 million Canadian dollars ($97 million) in its third quarter, a significant improvement over the company’s CA$1.3 billion net loss in the previous three-month period. The Alberta cannabis producer’s adjusted EBITDA loss for the quarter ending March 31 was CA$45 million. The company maintains it is on track to be […]
Read More
Hexo received NYSE warning in early April over low stock price
Hexo is the latest Canadian cannabis producer to run afoul of the New York Stock Exchange’s continued listing standards because of a low stock price. The Ontario-based company was warned by the NYSE last month that its shares, which have fallen below $1, do not meet the exchange’s listing standards. Hexo said it receiving the notification April 7 before notifying […]
Read More
The pandemic pivot and how cannabis companies reacted to COVID-19.