Marijuana Business News

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Fri
22
Apr

A drive-thru cannabis store is opening in Ottawa

store

 

“The store building previously housed one of Canada’s most iconic coffee chains and now serves the convenience of cannabis through the same drive-thru window.”

Ottawa is getting its first drive-thru cannabis store.

ShinyBud Cannabis will be opening the Carling Ave. location this weekend and customers will be able to pre-order products online or directly in the drive-thru.

The site appears to be the former home of a Tim Hortons and the company is marking the occasion by giving out free coffee, as well as hosting a charity barbecue in the afternoon. All proceeds will benefit Cannabis Amnesty.

Fri
22
Apr

Tilray stock: 3 catalysts we're waiting for

pill bottles

 

 

Cannabis investors are anxiously waiting for these developments to happen.

Tilray  (TLRY) is a cannabis market leader in Canada and Europe. However, shares of the company — along with other pot stocks — have been on a losing streak in recent years.

This downward trend is due both to fading hopes that the U.S. and other governments will legalize marijuana and to general weakness in the market.

However, recently, cannabis investors have had a glimmer of hope. Here are three catalysts that could send Tilray's stock skyrocketing.

Fri
22
Apr

County MPC approves development of cannabis retailers

 

Residents within Wheatland County may soon see increased accessibility for recreational cannabis, as three development permits were approved during the April 12 Municipal Planning Commission (MPC) meeting.

Permits for recreational cannabis retailers were approved to continue development for locations in Origin Business Park, Cluny and Gleichen – with the latter being the most debated location among commissioners.

According to administration, the county received seven responses from the community in support of the Gleichen retailer and 14 against, after circulating the permit application to the community. A total of 31 responses were also received after the permit applicant canvased the Gleichen community.

Fri
22
Apr

HEXO provides update on strategic plan; announces changes to further streamline operations on path to becoming cash flow positive from operations

hexagons

HEXO Corp (TSX: HEXO; NASDAQ: HEXO) ("HEXO" or the “Company"), a leading producer of high-quality cannabis products, today provided an update on its previously announced strategic plan, designed to solidify HEXO’s position as the number one cannabis company in Canada by recreational market share, with the goal of becoming cash flow positive from operations.

The Company is announcing that it will close its Belleville facility and transition its operations to other sites to further streamline operations and capitalize on production efficiencies.

Thu
21
Apr

Switzerland: authorities green light first legal cannabis sale pilot project

Switzerland Picture

On May 15, 2021, an amendment to the Federal Narcotics Act came into force in Switzerland, allowing pilot trials involving the dispensing of cannabis for non-medicinal purposes. (Benzinga)

These trials are intended to create the basis for future legal regulation and will include 5,000 registered participants, who have proven to the federal government they already have been consuming cannabis.

Thu
21
Apr

Founder of not-for-profit says he’s concerned Manitoba holding back sale of fundraising pre-rolls

Pre-Rolled Cannabis Joint

 

The man leading the charge to challenge Manitoba’s ban on home-grown cannabis says he believes the province may be holding back sales of a new not-for-profit pre-roll meant to raise funds for the court challenge. 

Jesse Lavoie, founder of TobaGrown, announced his TobaGrown pre-roll line earlier this year, meant to raise funds for his organization’s court challenge against the Manitoba government. 

But in March, Lavoie says the Manitoba Liquor & Lotteries (MBLL) accepted a range of new SKUs, but not his own, something he speculates may be related to the politics surrounding the product and the movement it’s seeking to help raise funds for. 

Thu
21
Apr

Delta 9 plans to launch Canada’s first mobile weed store at music festivals

Festival Girls

Company scores temporary licence for two events in July

Winnipeg-based Delta 9 Cannabis Inc. has received provincial licensing to open what the company believes will be Canada’s first mobile cannabis store. The company plans to open an on-site shop at two upcoming music festivals in Manitoba.

Delta 9 reports on 4/20, no less, that it has received temporary licensing from the Liquor Gaming and Cannabis Authority (LGCA) of Manitoba to open the mobile outlets. The LGCA licenses all retail cannabis stores in the province.

The company’s first-ever mobile store will set up shop at both the 2022 Dauphin Countryfest and the 2022 Rockin’ the Fields Minnedosa music festivals, which are scheduled for early July and late July, respectively.

Thu
21
Apr

3 years after legalization, Okanagan weed tour operator hoping for post-pandemic business reset social sharing

 

B.C. Cannabis Summit in Kelowna discussing ways to improve growth

Kelowna wine tour operator Nicholas Wilson says he remembers his parents being gobsmacked when he told them five years ago he wanted to organize cannabis tours in the Okanagan, once Canada legalized the use of recreational weed.

"The baby boomer generation, you know, they were fed those indoctrinated documentaries like Reefer Madness," Wilson said of the 1936 American propaganda film filled with alarmist views about marijuana addiction.

"My mum was terrified if she smoked a joint, she would immediately go to heroin and prostitution." 

Wed
20
Apr

Canadian cannabis business opens 420 hotline tomorrow

woman on phone

The Canada-based company The Green Organic Dutchman recently announced that it will be hosting a 420 hotline on April 20 to offer resources to those who want to celebrate the cannabis holiday.

The Green Organic Dutchman CEO Sean Bovingdon expressed the importance of answering questions and helping out any consumers who need guidance when consuming cannabis.

“Whether someone is a cannabis-regular or hasn’t touched the plant in many decades, we owe it to curious individuals anywhere to support them, and to ensure they have the celebration they’re looking for on this 420,” said Bovingdon.

Wed
20
Apr

Highs and lows: why cannabis remains an unfulfilled investment promise

man

 

WP marks 4/20 day by reflecting on the nascent industry's stop-start progress since legalization in Canada

In 2018, Canadian investors were abuzz: with the legalization of cannabis in the country, they had a rare opportunity to get in on the ground floor of a new, budding industry. But after four years of false starts, pandemic struggles, and brief rays of hope, the promise investors saw during those high times has yet to be truly fulfilled.

“A lot of euphoria was built in when the Democrats won the U.S. elections in 2020, and that filtered through to the start of the year in 2021,” says Nawan Butt, portfolio manager at Purpose Investments.

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