Jacob Securities Inc. is shutting down, making it the second small Canadian broker dealer to announce plans to get out of the business this week alone.

In an interview, founder Sasha Jacob cited the “regulatory burden” and “extraordinary cost structure” of being an Investment Industry Regulatory Organization of Canada (IIROC) member as a major reason for the firm’s struggles.

“Quite frankly the costs of maintaining retail and a trading desk ... have been a bit of a distraction and a drain on the firm” he said.

On Friday, IIROC announced it had suspended Jacob Securities’ IIROC membership which effectively puts the dealer out of business.  

Ontario is looking for federal government guidance on regulating clinics that sell medical marijuana and on how pot should be sold for recreational use once it's legalized.

The federal Liberals promised in this month's throne speech to "legalize, regulate and restrict access to marijuana" to keep it out of the hands of children while also denying criminals the financial profits.

The new government plans to remove possession of small amounts of marijuana from the Criminal Code and create new laws to more severely punish those who provide it to minors or drive while under its influence.

TORONTO -- Ontario is looking for federal government guidance on regulating clinics that sell medical marijuana and on how pot should be sold for recreational use once it's legalized.

The federal Liberals promised in this month's throne speech to "legalize, regulate and restrict access to marijuana" to keep it out of the hands of children while also denying criminals the financial profits.

The new government plans to remove possession of small amounts of marijuana from the Criminal Code and create new laws to more severely punish those who provide it to minors or drive while under its influence.

Aphria Inc. ("Aphria" or the "Company") (TSX VENTURE:APH) is pleased to announce it has closed its short form prospectus offering, on a bought deal basis, including the exercise in full of the underwriters' over-allotment option. A total of 8,846,370 units (the "Units") of the Company were sold at a price of $1.30 per Unit, for aggregate gross proceeds of $11,500,281 (the "Offering"). Each Unit consisted of one common share of the Company (a "Unit Share") and one-half of one common share purchase warrant (each whole common share purchase warrant, a "Warrant"). Each Warrant will entitle the holder thereof to purchase one common share of the Company (a "Warrant Share") at a price of $1.75 until December 11, 2018.

The president of Supreme Pharmaceuticals says the pre-license inspection of their proposed medical marijuana growing facility in Kincardine went well.

John Fowler says if all goes as expected, they could receive their license early in the New Year.

He says a very thorough and detailed inspection took place Wednesday

“I would say primarily they’re looking for security features to make sure the site doesn’t represent a threat to the employees, to the security of the produce we hope to produce in the future, or to any of the stakeholders such as community members,” says Fowler.

He says a license would also mean they would likely need to hire more staff.

More Ontario students report using cannabis than tobacco, a survey released Wednesday shows.

About 21% of Grade 7 to 12 students in Ontario say they used cannabis during the past year, according to the survey by the Centre for Addiction and Mental Health. The usage was higher among older students; 37% of Grade 12 students reported using pot, while the report called marijuana use among seventh graders as "negligible".

Ottawa has given a commercial medical marijuana producer the first licence to sell cannabis oils through the federally regulated mail-order system, six months after a Supreme Court ruling forced Health Canada to allow access to edible forms of the drug.

Peace Naturals Project Inc., based in Stayner, Ont., announced Monday that it is the first commercial producer to be approved to sell cannabis oil. Fourteen other commercial producers are listed on Health Canada’s website as being permitted to produce cannabis oil, but they are still awaiting bureaucratic approval to sell it. Currently, 20 producers are licensed to sell dried marijuana.

Bedrocan is pleased to announce that it has received a license renewal for its shipping and storage facility in the Greater Toronto Area.

The license extension is valid for one calendar year from the date of issuance, December 2nd, 2015 and will allow Bedrocan to store and sell up to 240kg of dried cannabis during the licensing period. Bedrocan also holds a separate 2000kg production license that is valid through February 17th, 2016.

Lift Cannabis Co, Canada's leading cannabis communications company, has announced its upcoming Lift Cannabis Expo. The trade show -- the largest of its kind in Canada -- will be held at the Metro Toronto Convention Center on May 28-29, 2016, and will feature more than a hundred exhibitors from across Canada, the United States, and Europe.

Sponsored by the largest federally licensed medical marijuana producer, Tweed, and North America's leading seed company, Crop King Seeds, the two-day tradeshow will provide an environment for patients, consumers, industry members, entrepreneurs, local leaders, job seekers and curious individuals to come learn about one of North America's fastest growing industries.