Marijuana Business News

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Fri
19
Jun

Hexo Corp. sells Niagara Falls cannabis facility for $10.25 million

Hexo Corp. says it has sold its facility in Niagara Falls, Ont., for $10.25 million to an undisclosed buyer.

The cannabis company announced in March plans to list the facility after reviewing its cultivation assets.

Hexo determined that it no longer expected to restart operations, which it halted in November 2019, due to an excess of cultivation capacity in the market, forecasted demand for cannabis products and expected market development.

The sale of the Niagara facility included land and greenhouse facilities, as well as certain equipment.

The company says it expects to use the proceeds to fund additional expansion of its Belleville, Ont., facility and for working capital and other general corporate purposes.

Thu
18
Jun

2 Marijuana Stocks To Watch: Can These Companies Build More Momentum

How These Two Pot Stocks Are Changing the Cannabis Industry for the Better

Thu
18
Jun

Only 3% of Australians using medical weed get it from licit market: study

nly 3 per cent of Australians using medical cannabis access it through the government’s regulated program, a new study found. 

Medical cannabis has been legal in Australia since November 2016, when the government created a system where doctors could prescribe weed to treat various ailments.

Thu
18
Jun

Canopy Growth CEO predicts US will legalize weed in 2022

The chief executive officer of Canopy Growth said this week he expects the United States will legalize recreational marijuana at the federal level in 2022.

Speaking to CNBC’s Jim Cramer on his show Mad Money, David Klein said that the growing number of U.S. states legalizing weed will inevitably lead to broader support in Congress that will, in turn, eventually force lawmakers to remove cannabis from Schedule I of the Controlled Substances Act.

Thu
18
Jun

4 Reasons Cannabis Companies Are Moving to an Enterprise Solution

To say 2020 could be a defining year for vertically integrated cannabis companies is an understatement.

It will be. And those driving execution in this complex, regulated industry with an enterprise-level solution will prove to be the leaders. 

This year, the cannabis industry has been thrust into yet another transitional period. Legalization legislation is potentially off the table for the foreseeable future, and many are dealing with a shrinking economy for the first time. 

Wed
17
Jun

What is behind the impressive market growth of CBD?

Considering its current reach and future growth potential, CBD is one of the most exciting markets in the world. Cannabidiol, also known as CBD, is one of the active ingredients of the cannabis plant.

Of the two components, THC creates the euphoric effects that marijuana is famous for and for which it has been classified as a narcotic in the past while CBD on the other hand has many medicinal benefits without the psychedelic side effects. In fact, this may be the main reason behind the impressive growth of CBD in recent years.

Wed
17
Jun

Why COVID-19's Digital Ad Markets Are A Boon For The Cannabis Industry

For cannabis marketers, generating mass awareness is far more difficult than it is for marketers in traditional consumer goods.

Cannabis marketers must navigate scores of disparate regulations that limit where, how, and who they can target with their message. This creates a serious challenge for brands that aim to move the needle on awareness or ad recall. 

However, recent shifts in consumer interest and supply and demand dynamics due to shelter-in-place orders have created an environment where cannabis marketers have a unique opportunity to generate brand awareness more efficiently than ever before.

Wed
17
Jun

Cannabis Sales Continue to Soar Through The Pandemic

Every day, people across the United States demonstrate how legal cannabis could save the nation’s economy from the virus-caused downtown. They do so by buying record amounts of weed.

Wed
17
Jun

Aurora Cannabis president is stepping down at the end of the month

Aurora Cannabis Inc. says co-founder Steve Dobler will retire as president and as a director of the company at the end of the month.

Dobler has held the roles at the cannabis company since December 2014.

With the retirement of Dobler, the board will have nine directors.

The move follows the departure of founder Terry Booth, who stepped down as chief executive earlier this year.

Aurora announced in February that it was taking $1 billion in writedowns and would lay off 500 employees as part of a shakeup to its spending plans.

Tue
16
Jun

Drive-through medicinal marijuana dispensary now open

On Monday, Compassionate Care by Design opened the first drive-thru medical marijuana dispensary in Southwest Michigan.

Drivers could pull into the location off Stadium Drive to pick up their marijuana prescription, just like picking up a prescription at a drive-thru pharmacy, said store manager Vanessa McKenzie.

McKenzie said this concept is to provide customers with safety, security and convenience.

"They can come through here. They can place an order, they can do a pre-order, then pull up, and grab their medicine like you’re visiting a CVS pharmacy pick up," said McKenzie.

Compassionate Care by Design has three locations in Kalamazoo County, and offers curbside pickup at the the location off Sage in Kalamazoo.

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