Author: CanadianInvestor

Kinder Morgan CEO says there’s a ‘seller’s market’ for remaining Canadian assets

CanadianInvestor
Kinder Morgan CEO says there’s a ‘seller’s market’ for remaining Canadian assets
CALGARY — There’s a “seller’s market” for attractive assets like those held by its Canadian subsidiary, the CEO of Kinder Morgan Inc. said on a conference call Wednesday to discuss third-quarter results. The company is working on a strategic plan that could include a sale or sale of assets for its Canadian arm even though it likely won’t distribute funds from the sale... Read More

Demand for legalized cannabis draws lineups, heavy web traffic across Canada

CanadianInvestor
Demand for legalized cannabis draws lineups, heavy web traffic across Canada
TORONTO — Cannabis was “flying off the shelves” in retail outlets and online stores across the country as Canadians looked to make their first-ever legal purchase of recreational pot and participate in the historic cultural moment. Less than 24 hours after Canada became one of the few countries around the world to legalize cannabis for adult use, some private retailers were either sold... Read More

Oilsands target MEG formally rejects Husky Energy’s $3.3-billion takeover bid

CanadianInvestor
Oilsands target MEG formally rejects Husky Energy’s $3.3-billion takeover bid
CALGARY — MEG Energy Corp. says its board is unanimously recommending that shareholders reject Husky Energy Inc.’s $3.3-billion hostile takeover offer made on Oct. 2. In a news release, the Calgary-based oilsands company says the offer “significantly undervalues” its shares and is not in the best interests of the company. Husky is offering a combination of cash or shares worth $11 for each... Read More

Some Toronto dispensaries remain open on pot legalization day

CanadianInvestor
Some Toronto dispensaries remain open on pot legalization day
TORONTO — As tens of thousand of Ontarians purchased cannabis through a government website on Wednesday, some users in Toronto preferred getting their pot from unlicensed dispensaries that remained open despite the threat of criminal prosecution. It was business as usual at 1Tonamara, an illegal pot shop located in the city’s downtown, hours after recreational cannabis became legal nationwide. The Spadina Avenue shop, along with the Cloud 6ix dispensary up... Read More

Sidewalk Labs CEO says ‘vast majority’ of privacy questions have been answered

CanadianInvestor
Sidewalk Labs CEO says ‘vast majority’ of privacy questions have been answered
TORONTO — The leader of an organization behind plans for a high-tech Toronto community says the “vast majority” of people’s privacy concerns around the project should be answered by policy documents it released this week. Dan Doctoroff, the chief executive officer of Alphabet Inc.-backed Sidewalk Labs, says the recently revealed plans should quell the privacy and data concerns of all but the most “extreme” critics... Read More

Shopify sees 100 pot orders per minute on Canadian websites for legalization day

CanadianInvestor
Shopify sees 100 pot orders per minute on Canadian websites for legalization day
TORONTO — Shopify Inc. says the Canadian online cannabis stores powered by its e-commerce software are seeing more than 100 orders per minute. The Ottawa-based company’s vice president says the government-operated websites and private retailer portals powered by Shopify have processed “hundreds of thousands” of orders since cannabis was legalized at the stroke of midnight. Loren Padelford added that these websites have seen millions of visitors from Canada... Read More

Brian Mulroney joins board of directors of New York-based pot company

CanadianInvestor
Brian Mulroney joins board of directors of New York-based pot company
NEW YORK — Former prime minister Brian Mulroney is joining the board of directors of an American cannabis company. Acreage Holdings, one of the largest vertically integrated cannabis companies in the U.S., says Mulroney will officially become a board member in November, when the company will list in the Canadian Securities Exchange. Mulroney, who served as prime minister 1984 to 1993, will join... Read More

Pot stocks down on first day of legalization as broader market also moves lower

CanadianInvestor
Pot stocks down on first day of legalization as broader market also moves lower
TORONTO — Shares in some of the big names in Canada’s marijuana industry were in the red on the first day of trading following the legalization of recreational pot use. Shares in Canopy Growth Corp. were down six per cent in early trading, while shares in Aurora Cannabis Inc. were down more than 10 per cent. Aphria Inc. shares were... Read More

The Latest: Recreational marijuana becomes legal in Canada

CanadianInvestor
The Latest: Recreational marijuana becomes legal in Canada
The latest on the legalization of recreational cannabis in Canada: ——— Prime Minister Justin Trudeau says his government’s relaxed pardon laws for simple pot possession will be of particular benefit to young people from racialized or other minority groups. Trudeau says people in those demographics were disproportionately affected by marijuana possession convictions, and that the new rules should remove a barrier for them. He also celebrates Canada’s new drug policy... Read More

Google to charge for apps on Android phones in Europe

CanadianInvestor
Google to charge for apps on Android phones in Europe
LONDON — Google plans to start charging smartphone makers to pre-install apps like Gmail, YouTube and Google Maps on Android handsets sold in Europe, a response to a record $5 billion antitrust fine imposed by the European Union. The U.S. tech company’s announcement Tuesday is a change from its previous business model of letting manufacturers install Google’s suite of popular... Read More