North American cannabis firms, facing prohibitive laws, an overcrowded market and a deeply entrenched illicit sector at home are ramping up investments in Germany after the country partly legalized marijuana use.
US, Canadian pot firms eye Germany for growth as market stagnates at home
Hemp sector disappointed new report ignores deregulation
Leaders in Canada’s hemp industry were hoping an expert committee would recommend significant changes to hemp regulations so it could be treated the same as wheat, canola and other crops. That didn’t happen. Instead, the committee of experts reviewing the Cannabis Act barely mentioned hemp in its 91 page report published March 21.
Canopy Growth sheds California facility amid liquidity worries
Cannabis producer aims to rein in costs
Reuters — Canadian pot producer Canopy Growth said on Thursday it has completed the sale of its facility at Modesto, California as part of its divestitures to raise funding amid liquidity concerns. The sale, the fifth such deal since April 1, is part of Canopy’s ongoing efforts to improve liquidity by reining in costs through […] Read more
Interest-free cash advances get extra lift in federal budget
Fertilizer diversification, solids non-fat processing also up for funding
Federal Finance Minister Chrystia Freeland’s latest budget envelope for Canadian farmers up against rising costs of production includes a temporary boost to the interest-free portion of cash advances. Freeland’s 2023 federal budget, released Tuesday, includes $13 million in 2023-24 for Agriculture and Agri-Food Canada to temporarily increase the interest-free limit for loans under its Advance […] Read more
U.S. FDA reported weighing CBD regulation in food, supplements
Reuters — The U.S. Food and Drug Administration (FDA) is planning to make recommendations on how to regulate the use of popular cannabis compound CBD in food and supplements, the Wall Street Journal reported on Tuesday, citing agency officials. After weighing the evidence on the compound’s safety, the FDA will decide within months how to […] Read more
Biden overhauling U.S. marijuana policy
Prior federal offenses to be pardoned; moves could ease U.S. business for cannabis firms
Washington | Reuters — U.S. President Joe Biden took steps to overhaul U.S. policy on marijuana on Thursday by pardoning thousands of people with federal offenses for simple marijuana possession — and initiating a review of how the drug is classified. Biden said thousands of people with prior federal convictions could be denied employment, housing […] Read more
Pot producer Canopy Growth to shed retail stores
Company working on 'path to profitability'
In full cost-cutting mode, Canadian cannabis producer Canopy Growth Corp. is set to shed a significant chunk of its vertical integration model by selling off the retail pot shops it owns across the country. Smiths Falls, Ont.-based Canopy announced Sept. 27 it has an agreement in place with OEG Retail Cannabis — already the owner/operators […] Read more
Canada to review impact of cannabis legalization four years on
Review will also look at regulatory challenges in pot sector
Ottawa | Reuters — Canada on Thursday launched a review of the country’s legalization of recreational cannabis use four years ago to evaluate its impact on youth, Indigenous minorities and others, and analyze its effect on the economy and the illegal marijuana market. Canada became the first developed nation to legalize use of recreational marijuana […] Read more
Aurora buys control of major B.C. hothouse veg firm
Bevo Farms to take over Aurora Sky cannabis production site
A major player in B.C.’s greenhouse vegetable sector is about to expand its operations into an Alberta cannabis grow facility — backed by a major investment from the plant’s owner. Aurora Cannabis on Aug. 25 announced a subsidiary is buying a 50.1 per cent stake in Bevo Agtech, the parent of vegetable and ornamental plant […] Read more
The cannabis market is huge, but so are the losses
The sector wants lower taxes and less regulation, but over-expansion has crippled many companies
Reading Time: 3 minutes Forget waterhemp. Cannabis might be Canada’s fastest spreading weed. Since being legalized in October 2018, cannabis production exploded across the country. From oils and edibles to dried flowers and other products, consumer demand continues to rise. But regulations, production woes and massive overcapacity have dragged the industry into a period of consolidation. The overall market […] Read more
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