Cannabis – Canadian Investor

Canadian stock exchanges to conduct lottery for “POT” ticker amid high demand

January 15, 2019 CanadianInvestor

TORONTO — High demand for the “POT” stock symbol has prompted several Canadian stock exchanges to conduct a collective lottery to select which company will be able to use the eye-catching ticker. After “significant interest,” the Canadian Securities Exchange says it along with the Toronto Stock Exchange, TSX Venture Exchange and Aequitas NEO Exchange will assign the symbol on Jan. 30 by random lottery. The... Read More

Tilray, U.S. brand group partner on cannabis-infused consumer products

January 15, 2019 CanadianInvestor

Licensed producer Tilray Inc. has teamed up with the U.S. company behind brands such as Juicy Couture, Aeropostale and Nine West to develop and sell co-branded consumer cannabis products globally, with items expected to hit U.S. and Canadian shelves within the next year. The Nanaimo, B.C.-based company announced Tuesday the long-term revenue sharing agreement with Authentic Brands Group, to whom Tilray will initially pay... Read More

Ontario’s 25 pot licence lottery winners fielding partnership offers

January 14, 2019 CanadianInvestor

TORONTO — Businesses and investors are rushing to partner with the 25 winners of the Ontario cannabis retail licence lottery, with offers apparently worth millions of dollars, to be involved in the province’s first recreational weed stores set to open this spring. Olivia Brown, the founder of Hamilton, Ont.-based Professional Cannabis Consulting, says one of her clients was among the 25 entities selected by... Read More

Marijuana producer Canopy Growth granted hemp licence in New York

January 14, 2019 CanadianInvestor

SMITHS FALLS, Ont. — Canopy Growth Corp. says it has been granted a licence by New York State to process and produce hemp, a member of the cannabis plant family. The Ontario-based company is one of Canada’s biggest producers of legal cannabis products for medicinal and recreational use. Canopy says it plans to invest between US$100 million and US$150 million in its New... Read More

Aurora Cannabis buying Whistler Medical Marijuana in deal worth up to $175M

January 14, 2019 CanadianInvestor

EDMONTON — Aurora Cannabis Inc. has signed a deal to buy Whistler Medical Marijuana Corp. in an all-stock deal worth up to $175 million, including certain milestone payments. Edmonton-based Aurora says the acquisition of the privately held company is expected to provide it with a suite of premium and organic certified products. Whistler operates two indoor licensed production facilities, include... Read More

Pot producers face pushback over odour, smell in Ontario farming town

January 13, 2019 CanadianInvestor

PELHAM, Ont. — David Ireland is frustrated by the “skunk smell” of pot that wafts down from two cannabis cultivation facilities roughly five kilometres away and lingers outside his home, even in the winter. “On hot humid days, it’s worse because they have to vent more often … You wouldn’t be able to open your windows,” he said. The town of Pelham, Ont., where... Read More

Results of Ontario’s pot licence lottery announced; winners have 5 days to apply

January 12, 2019 CanadianInvestor

TORONTO — Ontario has announced the first 25 companies that can apply for cannabis retail licences in the province. The Alcohol and Gaming Commission of Ontario says Tripsetter Inc., The Niagara Herbalist and Pure Alpha Holdings are among those that have been selected through a lottery. The agency accepted expressions of interest for the licences earlier in the week, and received more... Read More

Aphria chief executive and co-founder stepping aside from executive roles

January 11, 2019 CanadianInvestor

Aphria Inc.’s chief executive will step down from the top job after the “toll on health, family and personal priorities,” but Vic Neufeld says the decision is unrelated to recent short-seller allegations that have hit the cannabis producer’s stock. The Leamington, Ont.-company also announced Friday that co-founder Cole Cacciavillani will also leave his current role in the coming months, but both he and Neufeld... Read More

N.B. cannabis retailer lays off staffers as ‘operational needs’ become clear

January 10, 2019 CanadianInvestor

FREDERICTON — New Brunswick’s cannabis retailer is laying off staff, saying it has a better understanding of “operational needs” three months after the historic legalization of recreational marijuana. Cannabis NB said most of the layoffs involved people with seasonal contracts, but some are part-time or full-time employees. Spokeswoman Marie-Andree Bolduc said Thursday that despite supply challenges, operations have normalized at the... Read More

Legal pot costs $9.70 per gram versus $6.51 on illicit market: StatCan

January 9, 2019 CanadianInvestor

OTTAWA — Statistics Canada says that the average price of a legal gram of recreational pot last year was $9.70, nearly 50 per cent higher than the illicit market price of $6.51. The agency says it received 385 price quotes deemed plausible using the StatsCannabis crowdsourcing application between Oct. 17, when adult-use pot became legal in Canada, and Dec. 31. It added that roughly half... Read More