Marijuana Business News

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business
Wed
04
Dec

Shoppers Drug Mart expands online medical cannabis retail into Saskatchewan

Medicinal cannabis users in Saskatchewan can now order online from the largest pharmacy chain in Canada.

Starting Tuesday, Shoppers Drug Mart has expanded its online platform to provide Saskatchewan residents with front-door registered mail delivery of dried cannabis or oil to be ingested orally. Shoppers launched the platform, Medical Cannabis by Shoppers, in Ontario in January and expanded in April to include Alberta.

Under the current legalization legislation, pharmacies are not allowed to dispense medical cannabis.

Wed
04
Dec

Shoppers Drug Mart expands medical cannabis online sales to East Coast

Canadian pharmacy giant Shoppers Drug Mart has expanded its online medical cannabis platform to Canada's East Coast.

As of today, residents of Nova Scotia, New Brunswick and Prince Edward Island can go online on the company's website to make their purchase, which will then be mailed to them.

Residents who don't currently have the proper medical documentation authorizing the use of medical cannabis can get it by setting up a consultation online.

"There's access to telemedicine where a person can have an individual consultation with a physician who can determine whether cannabis is right for them," said Mike Boivin, a pharmacist consultant from Ontario who is a member of the Shoppers Drug Mart Advisory Board on Medical Cannabis.

Tue
03
Dec

Cannabis stocks fall for third straight day as market digests last of a weak batch of quarterly earnings

Cannabis stocks fell for a third straight day Monday, weighed down by the industry’s continued weak fundamentals, with companies still posting losses as they struggle to generate revenue.

The market is digesting the final third-quarter numbers from Canadian and U.S. players, and sentiment is being hurt by weaker-than-expected results, according to Greg McLeish, analyst at Mackie Research Capital Corp.

“What we’ve seen in Canada in particular is the disastrous retail rollout that is stopping licensed producers putting product into the retail channel,” he said. “That’s hurting net results and creating net oversupply in the marketplace that’s a concern to many investors.”

Tue
03
Dec

2 Marijuana Stocks To Watch Before Christmas

For anyone who watches the marijuana stocks as much as we do, they know that the past few months have been less than ideal. This is due to a variety of factors in the market including general uncertainty about the future, among other aspects. With so much information going around the market, it can be difficult to pick which pot stocks may be future proof. Of course, we must consider that there are some pot stocks that have more potential than others. Additionally, the future of the industry is still very much an uncertainty.

Tue
03
Dec

Canadian pot producers going full bore on vaping despite health risks, competition

Hundreds of new vaping devices are set to hit the Canadian market as early as next month, a sign that emerging health concerns, taxes, and even a provincial ban isn't enough to deter what some Canadian cannabis producers are hoping will be a big money maker. 

Health Canada told BNN Bloomberg that it has received close to 50 applications from licensed cannabis processors who have requested regulatory authority to sell the new classes of pot products. According to the regulator, those applications cover a total of 747 different cartridge-based vaping systems that industry players are hoping to sell when next-generation cannabis product sales begin on Dec. 16.

Tue
03
Dec

Aleafia Health makes $7.1 million selling Canada’s cheapest weed

n Monday pot-producer Aleafia Health, Inc. (TSX: ALEF) (OTC: ALEAF) announced it found a buyer for 28 per cent of the company’s inaugural outdoor harvest.

The company will sell 2,840 kilograms of dried flower from its Port Perry, Ontario growing site to an unnamed Canadian licensed producer for $2.50 per gram, earning Aleafia a tidy $7.1 million.

It’s a profitable deal for Aleafia, considering the Port Perry grow site produces the cheapest cannabis in Canada at $0.10 per gram — in this case, representing a profit margin of 96 per cent.

Tue
03
Dec

OCS deletes promotional tweets after a discussion with Health Canada

The Ontario Cannabis Store (OCS) engaged in some serious backpedaling regarding a planned Black Friday promotion after talks with Health Canada.

Last week, in a now-deleted tweet, the OCS bid Ontarians to “shop our collection of 7 grams starting at CA$7.50/g.”

The tweet was soon removed and promptly replaced with an online flyer that simply indicated that Black Friday was set to occur, with no language that could be deemed “promotional” and no details regarding product pricing or special deals in honour of the discount shopping day.

Tue
03
Dec

Customers may have to wait until January 2020 to get in-store edibles

Shoppers waiting to order cannabis Christmas gifts are getting a rude awakening as one of the biggest holidays nears.

Most legal shops won’t be able to order the new wave of marijuana products before Dec. 16, which means products likely won’t hit store shelves until 2020.

Brad Churchill, owner of Choklat, a candy-making company, told the Calgary Herald provinces will continue to suffer from Health Canada’s cautious approach.

“It’s disappointing in the standpoint of not having it in the stores for the holiday season,” he said.

Mon
02
Dec

Cannabis Stocks Are Scrambling to Conserve Cash

A year ago, all expectations were that the marijuana industry would have investors seeing green -- and the first quarter certainly suggested this opinion was accurate. At the end of March, more than a dozen pot stocks had risen by at least 70% on a year-to-date basis, and Wall Street was touting some exorbitant sales forecasts by 2030, one of which called for up to $200 billion in annual sales.

Mon
02
Dec

2 Top Canadian Cannabis Stocks to Buy in December

The holidays are coming, and with them the chance for upside in Canada’s hottest new industry. Cannabis 2.0 will be put to the test as the full range of vapes, edibles, and cannabis drinks test consumer demand.

Here are two of the top stocks to stash in your stocking in for December.

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