An Alberta farmer is asking people to stop stealing hemp from his field after multiple people have been spotted taking plants.

Lory Betchuk is growing hemp for the first time, usually he grows more traditional crops like wheat, barley and oats, to name a few.

"I'm a small farmer, and I just thought I'd just try something a little bit different," said Betchuk. "I always try to do the best I can with the land I've got."

But this crop has posed a challenge for the farmer, people keep stealing it from his field.

"My guess is that they don't know it's hemp, they're probably guessing it's cannabis," said Betchuk. "It's not cannabis."

Canopy Growth Corp.'s venture with Drake to sell recreational cannabis and accessories in Canada and abroad has "not been progressing as originally intended," the company's chief executive said. 

By the end of 2020, the legal cannabis industry is expected to surpass US$15 billion. But the money that weed generates on the illicit market far exceeds that amount.

Tracking exact figures is tricky because anonymous dealers and criminal networks aren’t exactly sharing sales data with the media. But estimates approximate the illicit market is more than four times the size of its legal market.

More specifically, New Frontier Data values the U.S. illicit. Per Statistics Canada, less than 30 per cent of Canadian cannabis users acquire their goods exclusively from licensed retailers.

As automation continues to change the way we get our cannabis, the future of this booming industry is growing even more exciting. 

Due to COVID-19, social distancing is crucial. That’s why so many people prefer contactless options, particularly for items like groceries or take out. Why can’t we do the same with cannabis? Exciting new developments in the world of automation are making contactless cannabis a reality. 

After nearly a year of next-to-no deal-making, cannabis companies are gearing up for mergers and acquisitions as realistic stock valuations and the prospect of U.S. legalization attract buyers to a sector that has been decimated by oversupply and other issues, executives and investors say.

Profitable cannabis companies want to buy their way into niche segments and expand their brands, betting that the November U.S. presidential election will lead to weed becoming legal across the United States. Distribution deals could also help companies reach consumers who have shown an increased appetite for pot products since the onset of the coronavirus pandemic.

A California based hemp producer has chosen North Bay as its Canadian headquarters. 

Apothio, will use Canadore College’s Innovation Centre for Advanced Manufacturing and Prototyping (ICAMP) and the College’s DNA lab to conduct the company’s research and development projects.

The company manufactures hemp-derived cannabinoid formulations like CBD oils, and is partnered with institutions of higher education "to conduct workforce development, educational programs, and research outcomes with our patients," according to its website.

Dr. Trent Jones is the Apothio president.

When legalization of recreational marijuana was on the near horizon, right after the final report by the Liberal government’s legalization task force in late 2016, a would-be cannabis company purchased property in B.C. suitable for cannabis production.

The purchase price was $2.9 million and the company, Grun Labs, Inc., had high hopes after nearly 100 years of marijuana prohibition. In the coming months, another $1.1 million was spent on the project.

Grun Labs applied to be a licensed cannabis producer under the old medical marijuana regulations with Health Canada. The government reviewed the application and had no critical concerns.

Meanwhile, Kan Paul Lum, Grun Labs owner, applied for security clearance, a status needed for him to run his planned business.

More than 500 cannabis stores have been given the green light in Alberta, with nearly another 200 pending.

The 509 stores approved by Alberta Gaming, Liquor and Cannabis (AGLC) are about half of all pot retail locations in the entire country, and are raising concerns about market oversaturation.

With 124 of those Alberta stores, Calgary has nearly a quarter of the Alberta total and more than any other city in Canada.

Within its city limits, Edmonton counts 88 cannabis stores.

Ideally, Alberta, with its population of about 4.5 million, would host roughly 450 stores to ensure a thriving business environment, said Chris Damas, a cannabis market analyst with BCMI Cannabis Report.

Canopy Growth Corporation (TSX: WEED) (NYSE: CGC) reported first-quarter fiscal 2021 net revenue increased 22% to $110 million.

For years, cannabis stocks were the greatest thing since sliced bread on Wall Street. The expectation of ongoing state-level legalization in the U.S., coupled with Canada becoming the first industrialized country in the modern era to give marijuana the green light, was forecast to send pot stock valuations into the heavens -- and for a period of time this is precisely what happened.