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Signage on a Tweed retail outlet in Winnipeg. (Dave Bedard photo)
Crops

Canopy Growth Q4 revenue beats as cannabis sales soar

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Reuters — Pot producer Canopy Growth reported better-than-expected quarterly revenue on Thursday, as efforts to strengthen its retail operations paid off and increased production capacity resulted in higher sales following Canada’s legalization of recreational cannabis. Marijuana companies in Canada have been pouring cash into their businesses to open stores and expand operations as the list
Canopy Growth CEO Bruce Linton applauds after handing Ian Power and Nikki Rose, who were first in line to purchase the first legal recreational marijuana after midnight, their purchases at a Tweed retail store in St John’s, N.L. on Oct. 17, 2018. (Photo: Reuters/Chris Wattie)
Crops, Markets

Cannabis tax revenue below projections in early months

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Ottawa | Reuters — Canada’s federal and provincial governments earned $186 million in tax revenues from direct sales of cannabis in the first 5-1/2 months of legalization, Statistics Canada data showed on Wednesday, after two major provinces cut their revenue forecasts. Statistics Canada found Ottawa collected a combined $55 million in revenue via federal excise
(CanopyGrowth.com)
Crops

Pot firm Canopy’s loss widens as spending surges

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Reuters — Canadian cannabis producer Canopy Growth posted a bigger-than-expected quarterly net loss on Wednesday as it ramped up spending in the run up to the legalization of recreational use of pot in mid-October, sending its shares down nine per cent. Marijuana companies in Canada have been pouring cash into their businesses to both fend
(UrosPoteko/iStock/Getty Images)
Crops

Regulator finds cannabis company disclosures inadequate

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Toronto | Reuters — A Canadian regulatory group said on Wednesday that it had found that the level and quality of disclosure by cannabis companies was insufficient. The Canadian Securities Administrators (CSA), which conducted a review of disclosure practices of 70 Canadian and U.S. cannabis producers, said some companies were inconsistent in complying with Canadian
The legalization of cannabis is expected to create thousands of new jobs — from production workers to office staff. Shown here is an Ontario marijuana facility. (Photo: Reuters/Blair Gable)
Crops, Markets

Aurora Cannabis plans U.S. stock listing in October

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Reuters — Canada’s Aurora Cannabis said Thursday it plans a U.S. listing of its shares in October, as it looks to cash in on strong investor appetite for marijuana producers. Interest has boomed in Canada’s marijuana companies ahead of legalization of recreational cannabis in the country next month. Several U.S. states have also legalized marijuana
Comment: The trouble with edibles
Comment, Opinion, Other

Comment: The trouble with edibles

Is Canada’s food industry ready for the massive opportunity of cannabis legalization?

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On Oct. 17, smoking cannabis will become legal in Canada. As for cannabis edibles, they will take a bit longer: cannabis-infused food products will be legal in a little less than a year’s time. Once edibles are available, things will get complicated in Canada’s food industry. But, with the right regulations, this is a profit
(CanopyGrowth.com)
Crops

Recreational marijuana sales in Canada face fresh delays

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Ottawa | Reuters — The sale of legalized recreational marijuana in Canada, which has already been pushed back once beyond the planned July start date, is set to be delayed even further, government officials said Thursday. The ruling Liberals are sparring with the upper Senate chamber, where a draft law is currently under review. Critics
(CanopyGrowth.com)
Crops, Markets

Constellation hedges bets on pot boom with Canopy stake

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Reuters — Constellation Brands has bought a nearly 10 per cent stake in Canadian cannabis producer Canopy Growth Corp. for about $245 million, making it the first major wine, beer and spirits producer to invest in legal cannabis. The move by the maker of Corona beer and Svedka vodka comes as Canada and a growing

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