Tag: Canada


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…