EDMONTON — Municipalities in Alberta are to get a new source of revenue next year when commercial cannabis producers start paying property taxes. Municipal Affairs Minister Kaycee Madu says cannabis growers will no longer be classified as agricultural businesses and so won’t qualify for a tax exemption. The change is to come into effect in the 2020 tax […]
If marijuana was regulated like tobacco and alcohol, the effects of the vaping illness would have been minimized.
TORONTO — Neil Young says his cannabis use has cast a cloud over his application to become a dual citizen in the United States. The legendary singer-songwriter and proud Canadian says in a statement on his website that he recently applied for American citizenship so he could vote in the 2020 presidential election. Young says […]
TORONTO — Cannabis company Cronos Group Inc. reported a profit in its third quarter, boosted by a large gain in derivative liabilities, as revenue grew to $12.7 million. The company says its net profit amounted to $788 million or 53 cents per diluted share for the quarter ended Sept. 30. That compared with a loss of […]
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MONCTON, N.B. — Shares in Organigram Holdings Inc. fell in early trading after the cannabis company said its fourth-quarter net revenue is expected to be lower than what the company saw in its third quarter. The cannabis producer’s shares were down 56 cents or nearly 13 per cent at $3.90 on the Toronto Stock Exchange […]
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TORONTO — Canadian securities administrators have issued a reminder to the cannabis industry about the need to properly disclose potential conflicts of interest. The guidance released by seven provincial securities regulators comes after they say staff observed inadequate transparency related to cross-ownership of financial interests by cannabis companies and directors during mergers, acquisitions and other significant transactions. Regulators say the cannabis […]
There are quite a few parallels between the sex industry and the cannabis industry. The puritan approach of the past failed simply because both industries are made up of everyday people, not criminals. As a result, the government has tried to create realistic regulations that will protect those most vulnerable. Instead, they failed and made […]
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NEW YORK — The CBD craze is leaving the war on drugs a bit dazed and confused. The extract that’s been showing up in everything from candy to coffee is legally derived from hemp plants, which look and smell an awful lot like that other cannabis — marijuana. They’re so similar, police officers and the […]
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TORONTO — Canopy Growth Corp. is teaming up with Drake to launch More Life Growth Co., a licensed cannabis producer based in Toronto. Under the agreement, Drake will hold a 60-per-cent stake in More Life and Canopy Growth will own the remaining 40 per cent. Canopy Growth will provide all of the day-to-day operations and maintenance […]
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Which came first? Poor paths to profitability for North American cannabis companies or limited funding for them to build their businesses? The reality: It’s a bit of both. Funding opportunities for marijuana firms do exist, but investors are increasingly unlikely to lend if cannabis companies cannot meet their revenue and profitability targets. Therefore, cannabis businesses trying to […]