British Columbia


Canadian pot company BC Craft files for bankruptcy protection as market shrinks

black cannabis leaf

BC Craft day-to-day operations will continue as it restructures its debt

BC Craft Supply Co. shares fell sharply on Wednesday after the Vancouver-based cannabis producer filed for protection from its creditors under Canada’s Bankruptcy and Insolvency Act. BC Craft Supply CRFTF CA:CRFT OTC shares fell 36% to trade at 20 cents on Wednesday. It’s the first Canadian cannabis company to file a notice of intention (NOI) to make a restructuring proposal in 2022, according to MJBiz Daily. The Vancouver-based company named Crow MacKay & Co. as trustee and said it would continue day-to-day operations.


BC Craft stock slumps after Canadian cannabis company files for protection from creditors


BC Craft Supply Co, a British Columbia-based wellness company advancing cannabinoid and psychedelic innovation, filed for temporary protection from creditors under Canada’s Bankruptcy and Insolvency Act while the cannabis company restructures. (Click here for Benzinga article)

BC Craft’s stock, traded on the OTC markets, traded down Wednesday more than 35% on the news. The company warned investors back in August of “significant doubts” that the company would be able to meet business obligations.


Pot shops can't sit empty


Time limit put on vacant cannabis stores by Vernon council

Cannabis stores can’t sit empty forever.

Licensed retail cannabis stores in Vernon that remain inactive for 24 months will now see their business licence lapse, after council passed the bylaw amendment Monday.

The change is intended to flush out stores that are “filling a spot,” said city staff.

Also, cannabis stores in the city will have to be 500 metres apart and 250 metres away from schools.

Mayor Victor Cumming’s motion for the downtown area to be exempt from the 500-metre rule did not pass.

“We really need to let the market do its thing,” argued Cumming.


'Culinary cannabis facility' planned for Vancouver's Mount Pleasant neighbourhood

business people

The proponents call it the first in Canada.

A unique food facility has opened in Mount Pleasant. West Blvd Cannabis has opened a micro-processing/cannabis manufacturing facility that specializes in food, specifically researching and developing new culinary cannabis products.

"The location will host on-site palatability testing for new product development and educational events," states a press release about the opening.

The Vancouver-based company is planning to launch a variety of brands; the first, Choklit Park, will have products available later this year. The company says it's working with local growers to create high THC products.


British Columbia will be a major growth driver for the Canadian cannabis market once it gets it together


Following a detailed reported from the British Columbia (BC) Chamber of Commerce Cannabis Working Group, changes could be coming to the province’s emerging legal cannabis industry. (Click here for full article)

The group published a report that provides recommendations on how to develop and scale the industry to make it competitive with other provinces in Canada. From allowing licensed private retailers to take online orders to eliminating the 20% provincial tax on cannabis vape products, we believe these recommendations could be a catalyst for companies with leverage to BC.


DoorHash? App-based pot delivery among recommendations from B.C. business group

hemp products

Chamber of Commerce says regulated cannabis industry needs help competing with illicit market

The B.C. Chamber of Commerce wants the province to "modernize" recreational cannabis by, among other things, allowing app-based delivery of products from private retailers.

A new report from the chamber says B.C.'s recreational pot industry is missing out on opportunities with present regulations.

The chamber makes 13 recommendations for rules around retail and delivery, licensing and taxation of cannabis businesses.

"Implementing the ... recommendations will unlock billions of dollars in private sector investment," Fiona Famulak, the chamber's president and CEO, said in a statement.


Early morning house fire

house fire

One taken to hospital with smoke inhalation after early morning house fire in Vernon

One person was taken to hospital with smoke inhalation after an early morning house fire in Vernon Tuesday.

Firefighters were dispatched to the 25th Avenue fire about 1:10 a.m. following report of smoke coming from a single-storey house on the 3600 block.

Crews arrived to find heavy smoke coming from the front of the structure.

“Crews advanced on the fire and quickly contained it to the front portion of the house,” says deputy fire chief Alan Hofsink.

“The house sustained significant smoke and fire damage. When crews arrived, all occupants of the home were already outside, and one person was transported to hospital for smoke inhalation and undetermined injuries.”


This Airport Could Become First In World To Open Marijuana Shop

prince George airport

On Friday, the Prince George Airport Authority in British Columbia welcomed a new business partner, which is pioneering cannabis for travel.

A cannabis dispensary at an airport? Could this be true?

Apparently, it could happen sooner rather than later. Where? Canada, of course, and most likely at the Prince George Airport (IATA: YXS) (ICAO: CYXS), which serves Prince George, British Columbia and the surrounding areas.


The Valens Company Enters Manufacturing Partnership with MTL Cannabis for Extraction and Manufacturing of Pre-rolls and Vapes

The Valens Company

 The Valens Company Inc. (NASDAQ: VLNS) (TSX: VLNS) (the "Company" or "The Valens Company"), a leading manufacturer of cannabis products, announces it has entered into a manufacturing partnership with Montreal Cannabis Médical Inc. ("MTL" or "MTL Cannabis") to provide manufacturing and extraction services for MTL's pre-rolls and vapes.

Valens expects the contract to begin at the end of the first quarter of fiscal 2022.


Gaia Grow's Canadian Cannabis Laboratory TRU Extracts Signs White Label Agreement with Expected Run Rate Revenue of up to $8,369,000


Gaia Grow Corp. (the “Company” or “Gaia”) (CSE:GAIA) (CNSX:GAIA.CN) (Frankfurt:GG0) is excited to announce that its wholly-owned subsidiary, TruExtracts Laboratories (“TRU”), has signed a 12-month white labeling agreement with an arms-length Canadian cannabis producer (“the producer”) to manufacture approximately 30,000 Cannabis pre-rolls per day. Production is expected to commence at TRU’s Canadian licenced Cannabis extraction facility in January of 2022. This agreement has the option to extend in 1-year increments beyond this term.


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