Tag: Canada


Second Cannabis Store Opens Doors in Brampton, With More Coming


The number of legal retail cannabis stores in Brampton has doubled – to two. Hobo Cannabis opened its doors on Thursday (July 23) at its new Brampton location on 14 Lisa St., making it only the second retail cannabis store to open up shop in Canada’s ninth-largest city since April 2019. “Hobo Cannabis Company is the city’s second cannabis retailer and marks an important shift, as residents gain access to an additional, and much-needed, legal…


The Tourist’s Guide To Canada’s Cannabis Culture


This article was originally published on Goldleaf, and appears here with permission. The closing months of 2018 saw Canada legalize the recreational use of cannabis for its citizens. Tourists can also partake in the Great White North’s newly established legal cannabis culture. Before you go out and buy your plane ticket, it’s a good idea to brush up on the specifics of how legalization in Canada works. Canada’s Recreational Market Although cannabis is legal in…


Cannabis Canada: More Than 1,000 Legal Pot Shops Open in Canada Right Now


There are now over 1,000 licensed cannabis stores in Canada, as new stores in B.C. and Ontario push the store count into quadruple digits. Alberta continues to lead the country with nearly 500 cannabis stores in the province, although several analysts have said the market is saturated and that some stores recently had to close due to challenging conditions. There are also nearly 500 cannabis stores in Ontario waiting to be fully licensed by provincial…


Aurora Cannabis Co-Founder Retires From Board of Directors


Aurora Cannabis Inc. says co-founder Terry Booth has retired from the company’s board of directors. Booth stepped down as chief executive in February, but had remained a member of the board of the cannabis company. Michael Singer, Aurora’s executive chairman and interim CEO, says Booth helped set the table for the company to lead in Canada and around the world. – Read the entire article at Global News.


Aurora Cannabis is Laying Off Huge Swath of Workforce and Shutting Five Facilities


25% of administrative, sales and 30% of its production staff going. Aurora Cannabis on Tuesday announced a new round of staff reductions and plans to shut five facilities over the next two quarters, as the COVID-19 pandemic pummels the cash-crunched cannabis industry. For most marijuana companies in Canada, which legalized recreational cannabis in October 2018, profits have proven elusive due to fewer-than-expected retail stores, cheaper rates on the black market and slow overseas growth. -…


Cannabis Companies Facing Proposed Class-Action Lawsuit Over Alleged Mislabelling


Some major cannabis companies in Canada are facing a multi-million dollar proposed class-action lawsuit over allegations the potency of their products is “drastically different” than advertised. The statement of claim filed in Calgary on Tuesday accuses the companies of failing to properly label their products and alleges negligence on their part. The plaintiffs are seeking a $500-million judgment — “or such other amount as may be proven at trial” — along with punitive damages of…


Leamington Loses 120 Jobs as Tilray Kills Cannabis Facility


After just a year of growing pot in Leamington, Tilray Inc., one of Canada’s biggest cannabis companies, is pulling up its local stakes and shutting down a greenhouse operation that employed about 120 workers. “I’m very disappointed — this is a blow to our municipality and very concerning,” said Leamington Mayor Hilda MacDonald, who heard the news second-hand on Wednesday. “Right now, we already have people not working because of COVID,” she said. “The decision…


Here’s How Canada Blew Its Chance to Be a Cannabis Leader


Despite being the first industrialized country to legalize adult-use pot in the modern era, Canada’s ambitions of being a marijuana leader have gone up in smoke. For years, cannabis stocks were virtually unstoppable. Following a more-than-tripling in worldwide sales between 2014 and 2018 to $10.9 billion, Wall Street and investors sent pot stock valuations into the stratosphere. At the center of this growth trend was Canada. Even though the U.S. offered far more potential in…


New Zealand’s Cannabis Reform is Akin to Canada’s but With a Protectionist Tinge


In New Zealand, a legal reform on cannabis was proposed. It will be voted on in a national referendum, along with the general elections and referendum on Euthanasia. This reform promises to lead the international legalization movement by proposing a series of highly progressive issues. In general terms, it will be very similar to the Canadian reform, although it will have an extremely protectionist tinge on native and more vulnerable communities. Market shares would be…


Cannabis, Bar Industries Eligible for $40B Government Bank Credit Program


Devastated bars and lounges as well as the country’s hard-hit cannabis sector will have access to $40 billion in new credit being made available via the government’s business bank during the COVID-19 crisis, its CEO said on Sunday. In an interview with The Canadian Press, Michael Denham said the program from the Business Development Bank of Canada would now be open to all businesses. “Any legal business is eligible to be part of the program…


Why Legal Pot Was Taking a Hit in Canada, Weeks Before COVID-19 Sent Markets Plunging


The gains cannabis companies were banking on in the lead-up to legalization of recreational sales in October 2018 have not materialized. So, what went sideways? In February, weeks before COVID-19 was declared a pandemic and the stock market was sent into a tailspin, a handful of Canada’s largest cannabis companies were already in layoff mode. In B.C., Canopy Growth was preparing to shutter what was once the world’s largest licensed indoor growing operation, a sprawling…


A Tale of Two Crises (Down and Out on the Downtown Eastside)


CANNABIS CULTURE – How the Cannabis Substitution Project adapts to serve Canada’s most notorious neighbourhood during COVID-19. The following is a front-line report from CSP Director & Cannabis Culture advocate Neil Magnuson: These are extraordinary circumstances for sure, with the measures being taken to address the spread of the latest version of the Corona virus, there is an eeriness and a very noticeable dampening of spirits on the Downtown Eastside of Vancouver. There are still…


Production Staff at Weedmd Could Be First in Cannabis Industry to Unionize


Production workers at a Southwestern Ontario cannabis company could be the first in Canada’s marijuana industry to unionize, a move one union official hopes will create a “ripple effect” across the sector. Employees at WeedMD, a London-headquartered company with more than 200 workers at its operations in Strathroy, Aylmer and Bowmanville, have been signing union cards with the United Food and Commercial Workers (UFCW) union over the past three weeks, national representative Kevin Shimmin said…


Ontario Dispensaries to Remain Open During Coronavirus-Related Business Shutdown


It seems marijuana stores in Canada’s capital province of Ontario will remain open for now in the wake of the SARS-CoV-2 coronavirus pandemic. A report in BNN Bloomberg, citing a pair of sources “directly familiar with the matter,” says that dispensaries will not fall under the category of “non-essential businesses” that are being shut down beginning just after midnight on Tuesday, March 24. On Monday, Ontario Premier Doug Ford mandated the temporary shutdown, a measure…


‘The Legal Stuff is Garbage’: Why Canada’s Cannabis Black Market Keeps Thriving


North America’s biggest companies have seen their market values lose billions, prompting comparisons to dotcom bust. Cannabis may be legal in Vancouver but visitors looking to score are likely to run into a seemingly counterintuitive suggestion: try the black market. Recreational marijuana was legalised across Canada in October 2018. And yet on Reddit, the specialist forum website used by millions every day, many of Vancouver’s cannabis connoisseurs still swear by their underground supply. This is…


There Were Once 20 Pot Stocks With a $1 Billion Valuation or Higher. Only 8 Remain.


Cannabis stock valuations have gone up in smoke. Marijuana is expected to be one of the fastest-growing industries on the planet over the next decade. But that hasn’t stopped the still-nascent industry from encountering a slew of growing pains. To our north, Canada has contended with a bevy of regulatory-induced supply issues. Some provinces have dealt with shortages, whereas other regions have seen bottlenecks. In Ontario, for instance, a mere 24 dispensaries were open for…