Category Archives: Canada Marijuana News

In wake of Namaste fiasco, Canadian cannabis firms urged to boost corporate governance

An expert in the cannabis industry is urging Canadian marijuana companies to improve corporate governance in the wake of a controversy involving Namaste Technologies and other “unicorn” firms. Toronto-based Namaste on Monday said it removed Sean Dollinger as chief executive officer and director and is commencing legal action against him after a special investigation. The company […]

New Brunswick receives 11% of cannabis products ordered from cultivators ‘consistently’

(This story has been updated to include a statement from Organigram.) New Brunswick’s cannabis wholesaler is receiving a fraction of the 352 cannabis products licensed cultivators agreed to supply the province on a regular basis, new data shows. “In August of 2018, we ordered 352 products; to date we have received 187. Of those 187, […]

MJBizDaily launches content for high-level cannabis investors

Investment in cannabis has grown at a meteoric pace – in size and in volume – over the past 12 months. To keep investors apprised of the rapid changes, Marijuana Business Daily has launched a subscription service – Investor Intelligence – focused on the critical analysis, insights and data necessary for success in the sector. “The demand for […]

Though a ‘positive step,’ WHO recommendations on cannabis fall short for some

The World Health Organization (WHO) made great strides in its recommendations on how cannabis should be scheduled, but the global industry believes there’s more work to be done. Martin Jelsma, drugs and democracy program director, at the Netherlands-based Transnational Institute, emphasized to Marijuana Business Daily that there are “very positive elements in the WHO recommendations,” including: Recognition […]

Half of Canada’s cannabis cultivation applicants in limbo

More than half of the cannabis site applications in Canada had not transitioned to the new licensing system as of the end of 2018, meaning their applications are effectively in regulatory limbo and not being scrutinized by the country’s cannabis regulator. Only 409 of the 839 cannabis site applications in the queue to be cannabis cultivators […]

CIBC compares cannabis to gold rush, predicts ‘beginning of global seismic shift’

The birth of the legal cannabis industry in Canada is akin to the gold rush, but very few cannabis companies will live up to their lofty expectations, according to a new report from one of the country’s largest banks. CIBC World Markets, a subsidiary of the Canadian Imperial Bank of Commerce, made the sobering assessment […]

Legal cannabis could skim $55 billion per year from alcohol, tobacco firms

Global alcohol and tobacco companies could face losses of $55 billion a year if a fully legal cannabis industry develops in North America, a new report predicts, a key driver for why those sectors are taking early steps into the blooming marijuana market. “For these two industries in particular, a move into the cannabis business is […]

Canada’s draft regulations for cannabis edibles ban alcohol brands, cap THC

Canada’s health department unveiled its draft regulations for edible cannabis and infused beverages, extracts and topicals, to establish parameters for a new wave of businesses and entrepreneurs aiming to capitalize on the country’s marijuana industry. The formal draft regulations will be published in the Canada Gazette, the government’s official newspaper, on Dec. 22, and businesses and the […]

Americans eye Canada’s cannabis edibles market, but wary of costly regulations

U.S. marijuana companies are keeping a close eye on the development of Canada’s edibles sector, but executives say the regulations proposed by Health Canada will be burdensome for manufacturers – and ultimately make them less competitive with the illicit market. Canada’s health department unveiled its proposed rules for edible cannabis and infused beverages, extracts and topicals […]

Ascent appeals marijuana license revocation, lays off a third of Canadian staff

Vancouver-based Ascent Industries has appealed Health Canada’s decision to revoke the license of its subsidiary, Agrima Botanicals, after the agency said the marijuana company conducted “unauthorized activities with cannabis.” Ascent also laid off 30 Canadian employees – representing about 36% of its total staff in Canada – “to protect its financial position for stakeholders,” the […]