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 […]
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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 […]
The Learning Curve Exchange Rate: Canada, Cannabis and Commercialization
The visuals of this week are striking. The midnight store openings. The long queues wrapping around city blocks. And the maple leaf replaced by the marijuana leaf on the national flag. Canada’s first few days of recreational legalization have gone relatively hiccup free for such a large-scale legalization, and response appears to be mostly positive. […]
Canada Is Already Experiencing Cannabis Shortages
Canadians loved their legal weed so much that many stores ran out of stock of the first day of legalized cannabis and no one is sure when the shortages will end. Across the country, smokers of all pedigrees (including one brilliant dude named Tim) either logged onto a website or waited for hours outside a store to get […]
Canadian legalization creates opportunities for Colorado marijuana businesses
Nationwide recreational marijuana legalization makes Canada a fertile landscape for ganjaprenuers. While some Colorado companies are already cashing in on opportunities north of the border, the effect on the local cannabis landscape is expected to be mostly invisible to consumers, industry advocates say. People began lining up in the wee hours of Newfoundland time Wednesday morning to make […]
Here are the most popular marijuana stocks as Canada becomes the largest country to legalize
Popular marijuana stocks fell across the board Wednesday, paring extreme gains so far this year, as investors cashed in a bit of their bet as Canada became the largest country to legalize the recreational use of cannabis. After months of political haggling and legal debate, Canada joined the U.S. states of California, Massachusetts, Maine, Alaska, […]
Canada Is Legalizing Marijuana Wednesday. Here’s What You Need to Know.
Canada is poised on the edge of a cultural revolution and dramatic social experiment as it prepares to legalize marijuana on Wednesday. Although the move has been planned since Prime Minister Justin Trudeau was elected in 2015, the country is scrambling to get ready for the big day because while the federal cannabis act sets […]
Canadian cannabis industry workers will be able to enter U.S. for pleasure travel
U.S. Customs and Border Protection says Canadian citizens working in the cannabis industry should be able to enter the U.S. for reasons unrelated to the marijuana industry. The agency updated its website Tuesday, providing a measure of clarity after a vague statement last month left the industry and investors facing uncertainty about travel of any kind […]
Canada to Open More Than 100 Pot Shops as It Becomes the Second Country to Legalize Marijuana
Mat Beren and his friends used to drive by the vast greenhouses of southern British Columbia and joke about how much weed they could grow there. Years later, it’s no joke. The tomato and pepper plants that once filled some of those greenhouses have been replaced with a new cash crop: marijuana. Beren and other […]
Low-THC Marijuana Products Could Be A Big Hit in Canada
When Canada launches its fully recreational marijuana market in the next week, the cannabis industry is expected to not only serve those die-hard customers who have dedicated years, maybe even decades to the black market but also those curious people new to cannabis. It is those neophytes on the scene, those with little concern for […]
Canada is about to legalize marijuana. How did that happen? Justin Trudeau, for starters
Politicians herald it as transformative. Residents offer resounding support in the polls. Investors see billions of dollars on the horizon. When Canada legalizes marijuana on Oct. 17, it will join Uruguay as the only countries to allow recreational cannabis nationwide. The South American country became the first in 2013. The effort, years in the making, […]
Ontarians Will Be Able To Smoke Marijuana Wherever They Can Smoke Cigarettes
Ontario residents will be able to smoke recreational cannabis wherever the smoking of tobacco is permitted, the Progressive Conservative government said Wednesday, loosening rules established by the previous Liberal regime. The government will also not put a cap on pot shops when it starts licensing and regulating the province’s private cannabis retail marketplace, and municipalities […]
