Category: Cannabis

LAS VEGAS — Regulations and paperwork are driving up costs for financial institutions serving marijuana companies doing business in states with legal pot sales, a cannabis banker told a conference in Las Vegas. Sundie Seefried told hundreds of cannabis trade show attendees at MJBizCon last week that a subsidiary of her Colorado credit union had to file more than 7,000... Read More

OTTAWA — Statistics Canada says Canadian spending on cannabis rose 1.1 per cent to roughly $5.9 billion on an annualized basis in the third quarter. Nearly 84 per cent of purchases were illegal and for non-medical use, down from 98 per cent in mid-2014 as cannabis consumption for medical use has increased. The agency estimates that of the $4.9 billion in illegal, non-medical pot purchases... Read More

WASHINGTON — Marijuana has been legal in Canada for a month already but immigration lawyers and cannabis executives say when it comes to getting into the United States, the worst may be yet to come. As Canadians get used to the fact that cannabis is no longer against the law in their country, some experts fear they will forget the perils that past and present marijuana use still... Read More

TORONTO — U.S. cannabis companies raised $1.5 billion on the Canadian Securities Exchange during the first 10 months of this year, surpassing their Canadian counterparts for the first time. Data from the smaller, alternative exchange shows U.S.-based pot company financing activity in the January-to-October period usurped the $1 billion raised by Canadian-based issuers during the same period. CSE chief executive Richard Carleton says investor... Read More