Ontario marijuana producers hit by minimum wage hike

ARMINA LIGAYA TORONTO THE CANADIAN PRESS PUBLISHED 4 HOURS AGOUPDATED JANUARY 29, 2018 Coffee chains and restaurants aren't the only businesses under pressure from Ontario's minimum wage hike — marijuana companies say the higher provincial pay rate is driving up the cost to produce and sell cannabis products as well. Licensed medical marijuana producer Aphria Inc. has calculated that the province's 21-per-cent minimum pay jump from $11.60 to $14 per hour would add another $600,000 to its overall wage costs each year. "If this increase had been in effect in the current quarter, the company's 'all-in' cost of sales of dried cannabis per gram would have increased by approximately $0.12 per gram," the Leamington, Ont.-based [...]

By | 2018-01-29T13:41:13+00:00 January 29th, 2018|Blog, News|Comments Off on Ontario marijuana producers hit by minimum wage hike

Canadians consumed $5.4B of domestically produced cannabis in 2017: StatsCan

  Canadians consumed $5.4B of domestically produced cannabis in 2017: StatsCan Canadians spent $5.7B on cannabis last year: StatsCan Canadians spent a total of $5.7 billion on medical and recreational marijuana last year, with the majority of cannabis consumed produced domestically, according to a provisional estimate by Statistics Canada. BNN’s Andrew Bell has more. Canadians spent a total of $5.7 billion on medical and recreational marijuana last year, with the majority of cannabis consumed produced domestically, according to a provisional estimate by Statistics Canada. BNN’s Andrew Bell has more. OTTAWA -- Not only do Canadians have a knack for growing pot, they're also adept at sneaking it across the border, suggests a new report by [...]

By | 2018-01-26T14:01:42+00:00 January 26th, 2018|Blog, News|Comments Off on Canadians consumed $5.4B of domestically produced cannabis in 2017: StatsCan

Feds invest $1.4 million in cannabis research projects as part of legalization push

   Feds invest $1.4 million in cannabis research projects as part of legalization push Chris Fox, CTV News Toronto Published Wednesday, January 24, 2018 12:36PM EST  Last Updated Wednesday, January 24, 2018 6:53PM EST The federal government has announced a $1.4 million investment in cannabis research as the July 1 deadline to legalize the drug inches closer. Member of Parliament Bill Blair made the announcement at the Centre for Addiction and Mental Health on Wednesday, where some of the research is taking place. Blair said that the money will support 14 research projects across the country that he said will be carried out over the next year. He said that some of the work [...]

By | 2018-01-25T15:00:36+00:00 January 25th, 2018|Blog, News|Comments Off on Feds invest $1.4 million in cannabis research projects as part of legalization push

Legal cannabis shops could boost nearby property values: experts, study

The Canadian Press Published Tuesday, January 23, 2018 3:28PM EST  Last Updated Tuesday, January 23, 2018 4:08PM EST While same Canadian landlords are looking to ban marijuana use in their rental units and several municipalities don't want legal cannabis stores in their neighbourhoods, a U.S. study suggests that pot could lift property values. Property prices for homes in Colorado close to shops that converted to recreational marijuana from medical marijuana in 2014 saw a roughly eight per cent boost, the study by professors based in Wisconsin, Georgia, and California found. Experts say it's too early to tell if Canadian homeowners can expect a similar effect, but note that retail locations could benefit neighbourhoods by driving [...]

By | 2018-01-24T12:33:04+00:00 January 24th, 2018|Blog, News|Comments Off on Legal cannabis shops could boost nearby property values: experts, study

Aurora buys CanniMed in friendly takeover that’s Canada’s biggest pot deal yet

The $1.1 billion deal means CanniMed will abandon its plans to acquire Newstrike Resources. EDMONTON — Aurora Cannabis Inc. has struck a friendly deal valued at $1.1 billion to buy rival licensed producer CanniMed Therapeutics Inc., bringing an end to a hostile takeover battle between the marijuana companies. Under the agreement that will be the largest yet in Canada’s red-hot cannabis industry, Aurora has agreed to pay $43 per share in stock and cash for each CanniMed share. That’s up from its earlier hostile offer of $24 per share for the company that Aurora had made late last year. The new offer and the transaction are subject to customary closing conditions, including Competition Act approval. [...]

By | 2018-01-24T10:29:03+00:00 January 24th, 2018|Blog, News|Comments Off on Aurora buys CanniMed in friendly takeover that’s Canada’s biggest pot deal yet

Ontario landlords push for right to ban cannabis smoking by renters despite tenant laws

Ontario landlords want the right to immediately ban the use of pot in rental properties when recreational weed is legalized this summer, arguing they should be allowed to change tenants' existing leases to stop the drug from being consumed in their units. Some marijuana users say, however, that the situation would leave renters with few places to legally use weed, given the province's already restrictive rules around the drug. Under rules announced in the fall, the province plans a ban on recreational pot consumption in public spaces and workplaces, allowing it only in private residences. Medical marijuana use will be permitted anywhere that cigarette smoking is allowed, the legislation says. Quebec municipalities will be able [...]

By | 2018-01-23T14:19:25+00:00 January 23rd, 2018|Blog, News|Comments Off on Ontario landlords push for right to ban cannabis smoking by renters despite tenant laws

Ontario considers allowing cannabis lounges as legalization deadline looms

'People who are in the cannabis business do not want to be criminals,' says lounge owner Abi Roach Ontario is considering allowing licensed cannabis consumption lounges in the province once recreational marijuana is legalized this summer, and is asking the public to weigh in on the idea. The proposal is being met with optimism by some cannabis activists and municipal politicians who say the provincial government's approach on where legal weed can be consumed has been too restrictive so far. Under rules outlined in the fall, the province intends to sell marijuana in up to 150 stores run by the Liquor Control Board of Ontario to people 19 and older, with a ban on pot's [...]

By | 2018-01-22T14:25:36+00:00 January 22nd, 2018|Blog, News|Comments Off on Ontario considers allowing cannabis lounges as legalization deadline looms

BMO financing deal with Canopy Growth marks policy shift for Canadian banks

Canopy Growth, Canada's largest licensed pot producer, announced the $175-million deal with BMO and GMP Securities on Wednesday. The Bank of Montreal’s participation in a major financing deal for licensed cannabis producer Canopy Growth marks a big policy shift for Canada’s biggest banks, which may be warming up to the cannabis sector. Canopy, Canada’s biggest licensed cannabis producer, announced Wednesday that BMO Capital Markets and GMP Securities were leading its $175-million bought-deal offering of roughly five million shares. Until now, Canadian banks have been reluctant to service the country’s burgeoning cannabis industry, leaving smaller banks and financial institutions to cash in on pot companies’ financing and commercial banking needs. However, the legislative landscape in Canada is [...]

By | 2018-01-22T13:04:59+00:00 January 22nd, 2018|Blog, News|Comments Off on BMO financing deal with Canopy Growth marks policy shift for Canadian banks

Vegetable growers convert to cannabis to help boost margins

TRACEY LINDEMAN SPECIAL TO THE GLOBE AND MAIL PUBLISHED JANUARY 21, 2018UPDATED 20 HOURS AGO Ahead of Canada's legalization of recreational cannabis, a slew of partnerships are cropping up between greenhouse farms and medical cannabis companies. Emerald Health Therapeutics is partnering with Village Farms in Delta, B.C.; Aphria has teamed up with southern Ontario's Double Diamond Farms; and Canopy Growth Corp. is taking over a 700,000-square-foot organic greenhouse in Mirabel, Que., owned by the largest North American producer of pink tomatoes. Other joint ventures are on the way, too. Canopy – perhaps one of the most aggressive cannabis companies in Canada – is partnering with or acquiring greenhouses outright across the country. "We want [...]

By | 2018-01-29T13:51:00+00:00 January 21st, 2018|Blog, News|Comments Off on Vegetable growers convert to cannabis to help boost margins

Shoppers Drug Mart signs marijuana supply deal with Tilray Canada

The Canadian Press Published Friday, January 19, 2018 7:33AM EST  TORONTO -- Licensed marijuana producer Tilray Canada Ltd. has signed a deal to become a medical cannabis supplier to Shoppers Drug Mart. Subject to Health Canada's approval of Shoppers Drug Mart's application to dispense medical marijuana, Tilray will supply the retailer with Tilray branded medical cannabis products. The B.C.-based company expects the products will be sold online because regulations restrict the sale of medical cannabis in retail pharmacies. Tilray says its products are sold in pharmacies in seven countries around the world. Shoppers Drug Mart's deal with Tilray follows similar agreements that the retailer signed last year with MedReleaf (TSX:LEAF) and Aphria (TSX:APH). The pharmacy [...]

By | 2018-01-19T08:39:23+00:00 January 19th, 2018|Blog, News|Comments Off on Shoppers Drug Mart signs marijuana supply deal with Tilray Canada