MoneyCanada’s black market for cannabis remained strong in fourth quarter
Smart Serve for cannabis: Ontario unveils mandatory retail pot training certificate
The CannSell certificate will be mandatory for all managers, employees and licence holders planning to work in one of the province's 25 brick-and-mortar pot shops when they open their doors on April 1.
Cannabis stocks were mixed on Monday as new data emerged about the state of Canada’s legal market and Aurora Cannabis Inc. completed its acquisition of a British Columbia–based medical weed company.
shows that the black market for cannabis remained strong in the fourth quarter of 2018, accounting for C$1.17 billion ($878.7 million) of sales, compared with $307 million in legal sales.
The black-market purchases were 8% lower than in the third quarter, the first to follow full legalization of cannabis for adult recreational use on Oct. 17. On a percentage basis, illegal sales accounted for 79% of the overall market, down from 90% in the third quarter, the data showed. The development of the legal market was hampered by shortages of product after many provinces underestimated demand.
New in the Oscars 2019 swag bag? All kinds of cannabis loot
There's a little something different in the swag bags that Oscar-nominated actors will receive this year — a range of cannabis products and services from five companies, including one from a Canadian company. The "Everyone Wins" gift bags are sent to all 25 nominees in the acting categories, and — although not officially sanctioned by the Oscars — their extravagant nature has given the bags some star status of their own. Los Angeles-based Distinctive Assets, a niche marketing company that specializes in product placement, has been distributing the bags to Hollywood A-listers for 16 years.
In the U.S., a recentfound farmers are becoming more accepting of growing and using cannabis, although they are more comfortable with the nonpsychoactive ingredient CBC and medical applications than of the psychoactive ingredient THC and recreational applications.
Farming and ranching are traditionally conservative professions, with 80% of surveyees aged 55 and older,
In company news, Aurora Cannabis Inc.by buying all of Cronos Group Inc.’s 19% stake in a deal valued at C$175 million in stock. Cronos has received about 2.5 million Aurora shares worth about C$24.6 million and will receive another C$7.6 million upon reaching certain milestones.
Economic growth slowed in fourth quarter
Economic growth slowed in fourth quarter
Whistler, which was founded in 2013, is one of Canada’s original 10 licensed producers and was first to obtain organic certification. The company has two indoor licensed production facilities with combined production capacity of more than 5,000 kilograms a year and the capacity to expand to over 15,000 kilos.
Cronos shares were last down 2.8%, while Aurora fell 3.1%.
CannTrust Holdings Inc. sharesHere's how to invest in cannabis through ETFs Investing in marijuana or cannabis stocks can be risky. Small companies that are actually handling and growing marijuana might not be legal at a federal level. Here's what you need to know. fell 5.9% after the company said it has filed a shelf registration to sell up to C$700 million of debt or equity. The registration statement has been filed with the SEC but has not yet become effective, meaning the company cannot issue securities for now.
Aphria Inc. sharesrose 2.1%, after the company said the health ministry Health Canada has that will enable it to produce 80,000 kilograms a year. That will boost its annualized production capacity to 110,000 kilograms.
Why Surging Pot Demand Has Aurora Cannabis Inc (TSX:ACB) CEO Losing Sleep
Aurora Cannabis Inc's (TSX:ACB)(NYSE:ACB) stock price is surging, but CEO Terry Booth is losing sleep over this one thing.
Arcadia Biosciences Inc. sharessoared 13.7%, after the food-ingredients and nutritional-oils company said it was granted its first industrial hemp pilot progam license in Hawaii. The license allows Arcadia Specialty Genomics, , to begin research and cultivation of hemp, planted on 10 acres of leased land.
“Industrial hemp, along with all strains of cannabis, are decades behind other agricultural crops in terms of improved plant genetics,” said Arcadia Chief Financial Officer Matt Plavan. “With the explosive market growth projected in the industrial hemp and derivative markets, growers will need the very best hemp strains to meet demand, minimize waste, and ensure consistent quality.”
Elsewhere in the sector, Hexo Corp.was down 2.8% and Aleafia health Inc. was down 4.8%. OrganiGram Holdings Inc. was up 1.7%.
The Horizons Marijuana Life Sciences ETFwas down 1.5% and the ETFMG Alternative Harvest ETF was down 1.7%.
The S&P 500and the Dow Jones Industrial Average were down 0.6% and 0.9%.
Cannabis stocks rally ahead of Tilray earnings.
Cannabis stocks were higher Monday, as investors reacted to the latest tie-ups in the sector and awaited the release of quarterly earnings from Tilray Inc. after the close. Tilray shares (TLRY) were up 1.1%, ahead of its fourth-quarter earnings, which are expected to signal whether or not the company can actually sell pot. The company’s third-quarter numbers came just two weeks after Canada legalized cannabis on Oct. 17, and showed they had not sold any recreational cannabis. Chief Executive Brendan Kennedy has said the fourth quarter would change all that.
What you need to know about cannabis in Canada
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