Marijuana Business News

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Wed
01
Dec

Canadian Cannabis Stocks Drop 5.5% in November

man with newspaper

After retreating almost 27% in Q3, the Canadian Cannabis LP Index extended its losing streak to five months as it fell again in November, declining 5.5.% to 225.26:

The index, which fell 30.1% in 2020 to end at 275.16, is down 22% over the past year and down 18.1% year-to-date in 2021:

It remains substantially below the all-time closing high of 1314.33 in September 2018, just ahead of Canadian adult-use legalization. In March 2020, it posted a new 52-week closing low of 196.10, a level not seen since late 2016, and it closed 14.9% above that level at the end of November:

Wed
01
Dec

If You Invested $100,000 in Canopy Growth When Canada Legalized Marijuana, This Is How Much You'd Have Right Now

buy hold sell

It has been more than three years since Canada legalized recreational marijuana on Oct. 17, 2018. The road has been a bumpy one for the industry as supply issues and rising competition have made it challenging for cannabis companies in the country to grow their sales or post a profit.

The industry leader three years ago was cannabis producer Canopy Growth (NASDAQ: CGC), but it's clear it isn't in that place right now as rival Tilray generates more in revenue. A lot has changed since legalization took place, and if you were to bet that legalization would have been the opportune time to invest in Canopy Growth, you would be sorely disappointed.

Tue
30
Nov

Organigram’s New CEO Looks to Drive Continued Growth in the Canadian Retail Cannabis Market

woman holds cannabis leaf

Beena Goldenberg is approaching 90 days as the CEO of Organigram (NASDAQ: OGI) (TSX: OGI). While some other Canadian LPs are shutting down facilities, Organigram is in the process of expanding to keep up with customer demand. Goldenberg spoke with New Cannabis Ventures about the company’s current momentum, the British American Tobacco (BAT) investment and the company’s cash position. The audio of the entire conversation is available at the end of this written summary.

Tue
30
Nov

Better Marijuana Stock: Aurora Cannabis vs. Hexo

computer

They've both been struggling for a while, and they're still deep in the woods.

When it comes to cannabis stocks, there's always a few turnaround plays that might be tempting targets for investment. As the marijuana industry grows globally, more than a couple of companies have overextended themselves by building so much output capacity that they outpaced demand. While it's a bit of a gamble, these competitors just might be a bargain, especially if they can effectively scale back their operations. 

Mon
29
Nov

Medicine Hat shortlisted for major hemp product processing plant

cannabis plants

Medicine Hat is a leading candidate for a new 200,000 square-foot processing plant that would employ 80 workers to turn hemp fibre into base material for car fenders, plywood, consumer plastics and construction material.

Inca Renewables describes the product as a bio-composite, a mixture of resin and plant fibre formed into pellets, then heated and formed into high-strength, low-weight construction and manufacturing material.

It produces four product lines, and is seeking a Western Canadian base of operations to receive hemp byproduct, process it and then distribute to industrial customers.

Mon
29
Nov

Another Profitable Canadian Cannabis Producer: Greenway Greenhouse Posts First Results Since Market Debut

numbers on screen

Greenway Greenhouse released its first-quarter financial statements since hitting markets in September.

Revenue came in at C$1.15 million ($906,547), with gross profit before fair value adjustments at C$532,263.  

Mon
29
Nov

An NBA star's cannabis brand comes to Canada

man shooting hoops

For Al Harrington, who played his last NBA game in Toronto in 2014, the partnership offers another reason to return north, though this time with a different purpose.

Aras Azadian, the CEO of Avicanna, a multinational cannabis and biopharmaceutical company, is waiting in line at the passport office when he takes a call from The GrowthOp.

Having recently returned from Mexico, where his passport was stolen, he’s got a day to resolve the situation before heading off again to Brazil.

“It’s part of the process of being CEO,” Azadian says, in a remarkably upbeat tone for someone waiting in line at the passport office.

Fri
26
Nov

Canada House Provides Corporate Update Ahead of MTL Cannabis Transaction

hand shake

Canada House Wellness Group (CSE: CHV) ("Canada House" or the "Company"), a fully integrated medical cannabis company, is pleased to announce the achievement of several company milestones as it works towards the completion of the previously announced reverse takeover (RTO) of the Company by Montréal Cannabis Médical Inc. ("MTL Cannabis") (the "Transaction").  The Transaction is now expected to close in calendar Q1 2022, subject to the satisfaction of customary closing conditions, including the receipt of applicable regulatory approvals and the shareholder approval described below.

Fri
26
Nov

Green Light Solutions Announces Ontario Product Availability

cannabis plant

LoFi CBD Oil 1500 now available through the OCS

Green Light Solutions ("GLS" or "the Company"), an innovation firm committed to driving excellence in the Cannabis industry, is pleased to announce the launch of its CBD dominant brand, LoFi, in the Ontario market. The signature product, LoFi CBD Oil 1500, is now available through Ontario Cannabis Store (“OCS”), ocs.ca, and licensed retailers.

LoFi CBD Oil 1500 is a potent, full-spectrum formula with hemp-derived CBD extract and sustainably sourced MCT oil. LoFi CBD Oil 1500 ranks among the top CBD oils sold in B.C. after its launch in August this year.

Thu
25
Nov

London is Calling - CannabisWiki Conference & Expo and Western Fair Association Bring Industry Event to Southwestern Ontario's Agricultural Hub

convention

The Western Fair Association has partnered with CannabisWiki to organize a first-of-its-kind agriculture and cannabis event in our region. CannabisWiki Conference & Expo will be hosted at the Western Fair District, Agriplex, June 15 and 16, 2022. CannabisWiki is proud to bring a cannabis show to London - the agricultural hub for Ontario. The two-day event will showcase cannabis industry innovations in the region, across the country and help to bring awareness about London as a world-leader in agriculture, agrobusiness, and plant derived medicines. The goal of the show is to foster regional and national B2B networking opportunities and to bolster the city's reputation as a diversified agricultural hub.

Dates & Details:

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