Corrected, Aug. 27, 2019 — Reuters — Canopy Growth Corp. fired founder and co-CEO Bruce Linton, a surprise move that comes just a week after the Canadian cannabis producer’s largest shareholder expressed disappointment over its loss-making streak. The world’s largest pot company announced earlier in the day that Linton was stepping down, leaving Mark Zekulin […] Read more
Weed leader Canopy Growth ousts co-CEO
Canopy Growth Q4 revenue beats as cannabis sales soar
Reuters — Pot producer Canopy Growth reported better-than-expected quarterly revenue on Thursday, as efforts to strengthen its retail operations paid off and increased production capacity resulted in higher sales following Canada’s legalization of recreational cannabis. Marijuana companies in Canada have been pouring cash into their businesses to open stores and expand operations as the list […] Read more
Cannabis tax revenue below projections in early months
Ottawa | Reuters — Canada’s federal and provincial governments earned $186 million in tax revenues from direct sales of cannabis in the first 5-1/2 months of legalization, Statistics Canada data showed on Wednesday, after two major provinces cut their revenue forecasts. Statistics Canada found Ottawa collected a combined $55 million in revenue via federal excise […] Read more
Cannabis edibles clear for legal launch before year-end
Food products containing cannabis are expected to be on the retail market by mid-December at the earliest under new federal regulations announced Friday. Health Canada on Friday announced amendments to the Cannabis Regulations will be published June 26 to come into force Oct. 17, laying out rules for legal production and sale of edible cannabis, […] Read more
Canada’s realized net farm income way down in 2018
Stagnant farm cash receipts against significant increases in feed, fuel and interest costs have led to Canada’s biggest decline in realized net farm income in over a decade. That’s according to Statistics Canada, which on Tuesday released full-year farm income data for 2018, pegging realized net farm income for the year at $3.9 billion, down […] Read more
Grow facilities now required up front for new cannabis producers
Growers and processors seeking federal licenses to produce and/or process cannabis in Canada will now have to have their proposed sites “fully built” before they even apply. Health Canada announced Wednesday that the change takes effect immediately, saying it would better line up the cannabis sector with the approach the department already follows for approvals […] Read more
Aurora Cannabis to buy up all of processor Hempco
Edmonton cannabis company Aurora Cannabis is set to buy up the balance it doesn’t already own in hemp processing firm Hempco Food and Fiber. Aurora announced Tuesday it will pay $1.04 a share for the remaining shares of Vancouver-based Hempco, which makes and sells Planet Hemp hemp-based foods and Praise hemp-based supplements for dogs and […] Read more
Ontario chamber makes recommendations to boost cannabis sector
Reuters –The Ontario Chamber of Commerce (OCC) on Thursday made several recommendations that address issues affecting the province’s booming marijuana industry, including having a common excise stamp to help cannabis makers ship their products smoothly. The industry body also recommended bolstering Health Canada, the country’s health regulator, so that it can issue licenses to facilities […] Read more
An unintended consequence of cannabis legalization
The money in cannabis has made it a highly attractive alternative to greenhouse plant propagators
Reading Time: 3 minutes When the Government of Canada changed the Criminal Code and legalized cannabis, it raised very few eyebrows in the agricultural community. It was debated as a crop on all levels and later recognized as an agricultural product. Where it was grown and by whom was left to other jurisdictions. It was viewed as an opportunity […] Read more
Farm groups see something for everyone in federal budget
Response so far from farm and agribusiness organizations to Tuesday’s pre-election budget suggests the federal government has managed to find at least one line item for everyone in the ag sector. Finance Minister Bill Morneau’s budget pledges compensation for supply-managed sectors facing financial hits from international trade pacts, funding for a new federal food policy […] Read more
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