Reuters — Three top U.S. Democratic senators on Wednesday unveiled a discussion draft of a bill that aims to legalize cannabis, a move that would allow adult Americans to buy and possess up to 10 ounces of marijuana without facing criminal penalties. The Cannabis Administration and Opportunity Act floated by Senate majority leader Chuck Schumer, […] Read more
U.S. Senate Democrats roll out draft bill to legalize weed
Hexo steps up cannabis M+A spree with Redecan deal
Reuters — Hexo Corp said on Friday it would buy Redecan, a privately-owned Niagara-region cannabis producer, for $925 million in cash and stock, as the pot producer bolsters its portfolio to tap surging demand and position itself as a top recreational weed supplier. Cannabis demand surged last year as many people turned to pot during […] Read more
StatsCan shows 2020 farm income up significantly
Farm cash receipts were up more than expenses
Canadian farm income, no matter how it’s measured, was up a lot in 2020, data released Wednesday by Statistics Canada show. Canadian net farm income of $18.1 billion is up $4.8 billion from 2019 — a 36.5 per cent increase. Another measure — realized net farm income (RNFI) — saw farmers take in $9.9 billion, […] Read more
Canopy Growth to buy rival Supreme Cannabis
Deal comes as pot demand lights up
Reuters — Canopy Growth Corp. said Thursday it will buy rival Supreme Cannabis for $323.3 million, as the world’s biggest cannabis producer bolsters its portfolio to tap surging demand. Shares of Canopy, up 15 per cent this year, fell around 4.6 per cent to $36 after it announced the cash-and-stock deal for Supreme, which owns […] Read more
BAT looks beyond tobacco to Canadian marijuana
Lucky Strike cigarette maker buys into Moncton's Organigram
Reuters — British American Tobacco (BAT) said Thursday it will buy a nearly 20 per cent stake in New Brunswick-based cannabis producer Organigram for about 126 million pounds (C$221.3 million) as it seeks to expand beyond its main tobacco business. Organigram, headquartered at Moncton, grows cannabis and makes cannabis-derived products in the Canadian market, where […] Read more
Canada weighs tighter rules for grow-your-own pot producers
Spending on illicit pot still ahead of legal purchases
Reuters — Canada on Monday launched a public consultation seeking to tighten rules for individuals who are allowed to grow their own medical cannabis, in an effort to clamp down on pot seeping into black markets. In a draft guidance issued for the consultation, Health Canada highlighted recent police raids and arrests at production sites […] Read more
Farm cash receipts up in 2020
Crop receipts and direct payments up, livestock slightly lower
MarketsFarm — New data from Statistics Canada on Tuesday showed Canadian farm cash receipts went up in 2020, despite the COVID-19 pandemic, on the strength of rising crop prices and exports. The total value of farm cash receipts in the country totalled $71.7 billion in 2020, an 8.1 per cent increase from the previous year. […] Read more
Cash-strapped pot producers raise billions in market rally
Cannabis firms seen as down in the weeds until recent surge
Reuters — A political shift in the United States has unlocked an estimated US$1.38 billion jackpot for struggling pot producers who have cashed in on a surge in their shares since President Joe Biden’s election in November. Cannabis producers have issued stock worth this amount in the first five weeks of 2021, investment firm Viridian […] Read more
Pot producer Canopy Growth sees profit in 2022
Costs cut, revenue increasing
Reuters — Canopy Growth Corp., the world’s largest pot producer, said on Tuesday it expects to turn a profit in the second half of 2022 after aggressive cost-cutting and higher demand for cannabis products helped narrow third-quarter losses. Canadian pot producers have been under pressure from investors seeking returns as profits remain elusive due to […] Read more
People growing too much pot at home, Health Canada warns
Pressure on to prevent abuse of home-grow program
Reuters — Health Canada on Thursday raised concerns about the large quantity of medical marijuana people were growing at home, after its data showed a significant jump in daily average production permitted by health care practitioners. While the practitioners can allow registered patients to grow a limited amount at home for personal use, the regulator’s […] Read more
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