Canadian Medical Marijuana & Cannabis Industry News

Pure Global Cannabis ‘temporarily’ lays off staff to conserve cash

Canadian license holder Pure Global Cannabis has become the latest marijuana firm to shed part of its workforce to conserve cash amid the challenging capital market conditions facing the industry. “This is about cost containment,” CEO Mel Panchal told Marijuana Business Daily. “It’s just prudent fiscal measures to ensure that we’re not burning unnecessary cash. […]

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Alberta bans cannabis vape sales amid smoking law review

Cannabis vapes will not be among the mix of new edible, extract and topical products available in Alberta’s retail stores in the coming weeks, the provincial regulator said. In early December, Marijuana Business Daily reported that the province was weighing legal changes involving vaping devices – including those containing cannabis – as part of a review of […]

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Week in Review: Cannabis banking reform hits snag, recreational MJ goes to New Jersey voters, merger falls through & more

The head of a U.S. Senate banking panel signals marijuana banking reform could take longer than the cannabis industry hoped, legislators in New Jersey agree to put recreational marijuana legalization in front of voters in 2020, another cannabis business merger hits the skids – and more of the week’s top MJ business news. Key US […]

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Health Canada, CRA to hold info session for micro-class cannabis businesses

Canada’s federal health department and tax collection authority are teaming up to offer an information session for micro-class cannabis entrepreneurs in Vancouver, British Columbia. Health Canada and the Canada Revenue Agency (CRA) are hosting the seminar in Vancouver on Jan. 10. “This information session is targeted towards current and prospective applicants applying for a cultivation, […]

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Beleave loses CEO VanderMarel, faces lawsuit from Auxly Cannabis

Jeanette VanderMarel announced her departure as CEO of Canadian cannabis producer Beleave after fewer than two months on the job. VanderMarel disclosed her resignation on social media, saying she “happily resigned as CEO of Beleave Kannabis” and that she was “moving on to things I believe in.” The experienced executive verified her departure to Marijuana […]

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Denver marijuana tech firm buying Canadian company for $45 million

Denver-based Akerna, a technology cannabis compliance company, on Wednesday said it plans to pay up to $45 million in stock and cash for Canada-based Ample Organics. Ample Organics is a seed-to-sale software company that says it serves more than 70% of Canadian cannabis license holders. For analysis and in-depth looks at the investment trends and […]

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New Zealand finalizes groundwork to launch medical cannabis industry in April

(This story has been updated to reflect new information from the Health Ministry.) New Zealand completed the regulatory foundation for its medical cannabis sector this week, making a key concession by not requiring specialist approval for prescriptions. When the new rules take effect April 1, 2020, all general practitioners will be able to prescribe medical cannabis […]

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Analysis: Germany’s medical cannabis market loses momentum but on pace to surpass 100 million euros

Insurance reimbursements for medical cannabis in Germany reached a new high during the July-September period, according to recently published data by the German National Association of Statutory Health Insurance Funds (GKV-Spitzenverband). However, the data also suggests that growth in medical marijuana sales is losing momentum as double-digit gains in MMJ reimbursements become harder to maintain. Statutory health insurance reimbursements […]

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British Columbia exempts dry cannabis vaporizers from increased tax

British Columbia updated a notice clarifying how its planned increased sales tax on vaporizer products will apply to cannabis devices. The new notice removes “dry herb vaporizers” from the list of products subject to the increased tax rate. The higher 20% provincial sales tax will still apply to liquid cannabis vaping products when it takes […]

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Canadian cannabis producer Hexo’s sales decline as net loss grows

Federally licensed cannabis producer Hexo recorded net revenue of 14.5 million Canadian dollars ($11 million) in its most recent quarter, down slightly from the previous quarter’s CA$15.4 million. The Gatineau, Quebec-based company’s net loss widened to CA$62.4 million in the period ending Oct. 31 from CA$56.7 million in the last quarter. About three-quarters of the […]

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BC, Ontario see lowest cannabis sales per capita in first year of legalization

The two most important cannabis markets in Canada experienced the worst sales of adult-use products per capita in the first year of legalization, reflecting struggles of officials in those provinces to get a handle on the policy tools at their disposal to regulate the industry. From October 2018 through September 2019, British Columbia’s marijuana stores […]

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