Rules violation leads to cannabis lottery winner being disqualified

Rules violation leads to cannabis lottery winner being disqualified
TORONTO — Ontario’s Alcohol and Gaming Commission has disqualified one of the winners of a lottery held to apply for cannabis retail licences. The agency says the entity has been removed for breaking a rule that prohibits someone from changing the name of the person on an application or the corporate structure of the company operating the store. The disqualified entity had won the... Read More

Aphria board rejects hostile takeover offer by Green Growth Brands

Aphria board rejects hostile takeover offer by Green Growth Brands
The board of cannabis producer Aphria Inc. has rejected a hostile takeover bid by Green Growth Brands. Inc. saying it “significantly undervalues” the company and would have “negative repercussions.” Shares of the Leamington, Ont.-based pot cultivator slipped by more than eight per cent in early trading on the Toronto Stock Exchange to $12.86. Aphria’s board unanimously recommended the rejection after a committee... Read More

Namaste fires CEO, starts strategic review of the cannabis tech company

Namaste fires CEO, starts strategic review of the cannabis tech company
TORONTO, United States — Cannabis tech company Namaste Technologies Inc. has fired its chief executive and plans to commence legal action against him as it launches a strategic review process to examine its options. The Toronto-based firm which operates an e-commerce platform and a portal that connects patients with doctors. It said Sean Dollinger’s termination from the CEO’s position came after an investigation... Read More

High Tide signs letter of intent with Ontario pot store lottery winner

High Tide signs letter of intent with Ontario pot store lottery winner
CALGARY — High Tide Inc. has signed a letter of intent to acquire a minority interest in one of the lottery winners selected to apply for one of the first 25 cannabis retail licences in Ontario. Financial terms of the agreement between the unidentified winner and High Tide weren’t disclosed by the company, which has seven Canna Cabana cannabis stores in Alberta. High Tide... Read More

Weekend Unlimited wins lottery for POT stock symbol

Weekend Unlimited wins lottery for POT stock symbol
The chief executive of cannabis company Weekend Unlimited Inc. says winning the POT stock ticker lottery was a “wonderful surprise” for the small company which is hoping the catchy symbol will help it stand out in the sector. After being selected in the lottery conducted by several stock exchanges, Weekend plans to switch its ticker on the Canadian Securities Exchange from... Read More

Undisclosed company wins POT stock ticker lottery, says TMX Group

Undisclosed company wins POT stock ticker lottery, says TMX Group
TORONTO — The POT stock ticker has been allocated by random lottery to a publicly listed company, but Canada’s largest stock exchange operator is not naming the company or the industry of the winner of the coveted symbol. Roughly 40 eligible ballots were submitted to participating exchanges — the Toronto Stock Exchange, the TSX Venture Exchange, the Canadian Securities Exchange... Read More

Cannabis company Slang Worldwide’s shares soar in first public trading

Cannabis company Slang Worldwide’s shares soar in first public trading
TORONTO — The newly listed shares of a cannabis-brand company co-founded by two entrepreneurs whose first pot venture was bought by Canopy Growth have soared by as much as 33 per cent. Slang Worldwide Inc.’s stock was trading at $2 on the Canadian Stock Exchange in early afternoon, after it commenced trading at $1.50. Slang co-founders Peter Miller and William Levy... Read More

E-scooters, bikes and alcohol delivery part of Uber Canada’s plans for 2019

E-scooters, bikes and alcohol delivery part of Uber Canada’s plans for 2019
TORONTO — Bikes, booze and e-scooters are part of Uber Canada’s plan for the country in 2019. Managers from the U.S. tech giant’s Canadian arm say they are exploring expanding alcohol delivery to provinces beyond B.C., where the service was launched last year. Dan Park, the head of Uber Eats Canada, says Ontario and Quebec are markets the company is... Read More

Organigram’s Q1 net revenue gets boost from recreational pot sales

Organigram’s Q1 net revenue gets boost from recreational pot sales
MONCTON, N.B. — Licensed cannabis producer Organigram Holdings Inc. says net revenue in its latest quarter hit $12.4 million, up from $2.4 million from a year earlier, due to the launch of recreational pot sales in October. Organigram says its sales during the three-month period ended Nov. 30 marked a record quarterly high and amounted to more than what the company has historically sold to medical... Read More

Football great Joe Montana looking to score with marijuana

Football great Joe Montana looking to score with marijuana
SAN FRANCISCO — Hall-of-Fame quarterback Joe Montana, looking to hit pay dirt in the legal marijuana industry, is part of a $75 million investment in a pot operator, it was announced Thursday. San Jose, California-based Caliva said it will use the investment to grow a company that includes a farm, a retail store, distribution centre and a delivery service. It... Read More