The United States is feeling some North American peer pressure to get in on the cannabis boom. Producers in Canada, where marijuana is legal for medicinal and recreational uses, are already planning for a future where pot is a globally traded commodity, and some are setting themselves up to profit if it is legalized in […]
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Colombia Is Turning Into A Major Medical Marijuana Producer
Patricia Santiago and her family were forced to flee their home near Colombia’s Caribbean coast after complaining about neighborhood dope dealers who, in turn, threatened to kill them. But in an odd twist, Santiago now works in the drug trade — at a medical marijuana facility. At first, Santiago felt like she was breaking the […]
Canadians continue to buy cannabis illegally
Nearly half of Canadian cannabis consumers purchase their weed illegally, reveals Statistics Canada’s National Cannabis Survey released Thursday (Aug. 15). Ten months after the country legalized recreational marijuana, 42% of those who partake admitted to buying at least some of their pot from an illegal source, such as a drug dealer. Legalizing the drug has not […]
Here’s How Much Legal Marijuana Canada Has Sold Since Legalizing Adult-Use Cannabis
The marijuana industry is expected to be a big-money business, and all eyes are on Canada. That’s because Canada became the first industrialized country in the world — and only the second country overall (behind Uruguay) — to legalize recreational marijuana this past October. In the grand scheme of things, Canada isn’t expected to be […]
Canada ‘Blew’ Its Chance to Be the World’s Pot Leader
Canada “blew it” on cannabis legalization and is rapidly losing ground to the U.S. as a result, according to the founder of one of the top investment bankers to the industry. A lack of policy innovation, a messy patchwork of provincial regulations and severe restrictions on marketing and branding have left Canadian pot companies eating […]
Aurora Cannabis Sold 9 Tons of Marijuana Last Quarter
Aurora Cannabis sold a ton of weed last quarter. Nine metric tons, in fact. Like the other Canadian pot producers reporting earnings Tuesday, Aurora increased sales strongly in its March quarter. Investors had worried that the recreational marijuana market was off to a slow start in Canada, but on Tuesday evening the Edmonton, Alberta-based Aurora Cannabis reported […]
Aurora Cannabis Is on Pace for 780,000 Kilos a Year, With 1 Million a Real Possibility
At the moment, there’s simply no industry growing faster, or garnering more attention from Wall Street and investors, than marijuana. Following the legalization of recreational weed in Canada, and now having over 40 countries worldwide with some sort of medical cannabis legalization in place, the sky appears to be the limit for pot and marijuana […]
Aurora Cannabis Marijuana Peak Production Leaps Higher
Aurora Cannabis (NYSE:ACB) is Canada’s second-largest marijuana company by revenue behind Canopy Growth (NYSE:CGC), but expansion projects could catapult it into first place someday. Aurora Cannabis went into this week with funded expansion projects targeting over 550,000 kilograms annually and exiting this week, its plans are targeting over 630,000 kilograms of peak marijuana production per year. What’s going on […]
Canada’s legalization of marijuana offers a blueprint for the U.S.
When Canada legalized cannabis last fall, the country began blazing a trail that the U.S. should one day follow. There’s much to emulate about the Canadian government’s approach to legalization, and a few things to avoid, but having marijuana legalized on such a large scale so close to home will no doubt have a profound effect on […]
Marijuana Stock Aurora Cannabis Is Soaring Because a Top Analyst Sees Profits Around the Corner
Aurora Cannabis stock was rising sharply on Tuesday, up more than 9% following a bullish call from Cowen & Co. The back story. Aurora Cannabis stock (ACB) has been on a tear in 2019, rising 58.5% since the start of the year. It hasn’t been a straight shot upward for the Canadian cannabis company, but Aurora’s acquisition of Whistler Medical […]
Aurora Cannabis makes a ‘blessed’ buy of organic marijuana producer
Aurora Cannabis Inc. said Monday it intends to acquire the one of the last independent members of the so-called “blessed eight,” a group of marijuana companies given the first approval to move cannabis genetics from the black market into the legal regime. Aurora ACB, +4.28% ACB, +6.26% said it would pay up to C$175 million ($132 million) in stock for […]
Marlboro maker said to be in talks to buy Canadian marijuana producer
Marlboro cigarette maker Altria Group Inc. is in early stage talks to acquire Canadian cannabis producer Cronos Group Inc., as it seeks to diversify its business beyond traditional smokers, people familiar with the matter said on Monday. Canada this year legalized recreational use of marijuana and is seen as a testing ground for pot companies […]
Canopy Growth CEO says ‘For sure there’s a marijuana bubble’
Canopy Growth Corporation saw its shares fall 13% on Wednesday after reporting disappointing earnings that included a revenue decline. Analysts had expected better results from Canopy after Canada launched legal recreational marijuana sales on Oct. 17. But Canopy’s (CGC) shares are still up 30% this year. And its cannabis industry peer Tilray is up 360% this year. […]
Aurora Cannabis Shares Gain on Post-Legalization Sales in Canada
Aurora Cannabis Inc., the first pot producer to report earnings since Canada legalized marijuana last month, gained as much as 5 percent in pre-market trading after profit and sales surged. Aurora posted C$29.7 million ($22 million) in revenue for the fiscal first quarter ended Sept. 30, up from C$8.2 million a year earlier. Although the […]
Marijuana Seizures Up 140 Percent at US-Canadian Border Since Legalization
US Border guards have processed 108 marijuana seizures at the US-Canada border crossing between Buffalo, NY and Champlain, Ontario in October. That’s a nearly 140 percent increase from the 44 marijuana seizures made at that same border crossing during October of last year. And Chief Customs and Border Protection Officer Aaron Bowker says people shouldn’t […]
Canada Runs Low on Legal Marijuana Just Weeks After Its Approval
Canada is running low on legal pot three weeks after the government approved the use of recreational marijuana, a shortage that is sending some frustrated consumers back to the black market. At least three provinces — Ontario, Quebec and New Brunswick — are facing a dearth of legal marijuana and two of them have seen outlets […]
These Countries Are Warning Their Citizens Not To Smoke Cannabis In Canada
The governments of Japan, South Korea and China are warning their citizens to stay away from cannabis while they are in Canada, lest they damage their health or be faced with the possibility of repercussions at home. On Monday, the Chinese Consulate General in Toronto published a letter on their official website urging Chinese citizens and international […]
Smoking Marijuana Is Legal in Canada, Unless You’re South Korean
Recreational cannabis use may now be legal in Canada, but South Koreans visiting the country who are tempted to smoke up risk facing punishment back home, their government warned on Tuesday. “Even if South Koreans are in a region where marijuana is legal, it will be illegal for them to consume it,” the South Korean […]
