Marijuana Business News

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Wed
10
Jul

A convection vaporizer under $100.00? Yes! And there’s more…Introducing Linx Eden, the best budget friendly convection vaporizer.

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Check out the commercial here.

Dubbed Linx Eden, the newest member of the Linx Vapor family combines the great tastes (that come only from convection) with the versatility of the Linx dual Herb/Wax Lava Plates for supercharged lift offs.  Sound to good to be true? Now what if I told you this will only cost you $99.99.   Mind = Blown

Enter Linx Eden

Tue
09
Jul

P.E.I. loses nearly $500K in first 6 months of cannabis sales

The Prince Edward Island Cannabis Management Corporation lost $483,000 during its first six months of legal cannabis sales.

But factoring in P.E.I.'s estimated $546,000 share of a new federal/provincial cannabis tax over the same period, the province managed to come out slightly ahead.

According to figures provided by the P.E.I. Department of Finance, the province sold $6,957,000 worth of pot from the day sales began Oct. 17, 2018 through to the end of the fiscal year on Mar. 31, 2019.

That left the Crown corporation in charge of cannabis sales with a gross profit of $1.8 million after product costs were taken into account.

Tue
09
Jul

Ontario's slow rollout of weed outlets could help black market

Ontario has blamed a shortage of legal cannabis from the federal government for its slow rollout of retail outlets, a claim dismissed by the federal government and regulatory bodies from other provinces, raising prospects the black market for weed may thrive longer in Canada’s most populous province.

Canada became the first G7 country to legalize recreational marijuana in October 2018 but sales have been dampened by supply constraints and prices that are higher than those on the black market.

While the provinces can set their own cannabis guidelines, a provincially run distributor purchases the cannabis from federally licensed producers, and then allocates it to retail locations approved by the province.

Tue
09
Jul

CannTrust audit sparks 'wake-up call' for better pot governance

Canada’s cannabis operators face a “wake-up call” to improve governance and compliance standards after CannTrust Holdings Inc. (TRST.TO) ran afoul of Health Canada regulations in the latest misstep by the nascent industry, according to a top lawyer specializing in the industry.  

CannTrust said early Monday that Health Canada, the federal regulator for cannabis in the country, became aware the company grew unlicensed cannabis in five rooms at its Pelham, Ont. Greenhouse between last October and March. Shares of CannTrust plunged more than 20 per cent on the Toronto Stock Exchange on Monday, hitting a near two-year low.

Tue
09
Jul

Linton likely headed to U.S. next after canopy

Bruce Linton is not going gently into that good night.

Usually, executives who get fired will go quiet for a while, taking time to repair the damage to their ego and work out what they want to do next. But no one who knows the former co-chief executive officer of Canopy Growth Corp. was surprised to see him making the TV news rounds within hours of his announced termination on Wednesday pontificating on the future of the industry.

Tue
09
Jul

Hemp stakeholders in Japan launch strategy for industry revival

Stakeholders in Japan have launched a “Campaign to Re-Open Japan for Hemp,” aiming to revive the ancient crop for agricultural regeneration and innovation. 

While hemp has a tradition in Japan going back centuries, the country has remained strictly aligned with outdated international norms that conflate hemp with marijuana.

“Our aim is to overturn the present closed situation in Japan,” said Dr. Harumi Kikuchi, Director of the Hokkaido Industrial Hemp Association, which is leading the hemp revival effort.

Goal: 20,000 hectares

“Japan, where the population is aging, is a promising market for hemp products necessary for good health. We need a strong campaign to increase imports for domestic distribution,” Kikuchi said.

Tue
09
Jul

U.S. marijuana sales should more than double to $22 billion by 2022

In case you haven't noticed, the legal cannabis industry is turning into a big-money business.

As recently as 2014, the global cannabis industry was just a seed that was beginning to find its roots. The duo of Arcview Market Research and BDS Analytics notes that worldwide licensed-store sales (i.e., legal sales that don't include cannabinoid pharmaceutical sales and general store cannabidiol revenue) were "only" $3.4 billion in 2014.

Tue
09
Jul

Working teens more likely to use cannabis than non-working teens

A recently published study has revealed a strange correlation between teens and marijuana use: teens with jobs are more likely to use cannabis than teens who are unemployed.

The study was published in the Journal of Adolescent Health and was conducted in Washington State. Led by Washington State University’s Assistant Professor Dr. Janessa Graves, the researchers analyzed data from 2010 and 2016 from the Healthy Youth Study, a study conducted yearly of 8th, 10th and 12th graders. The study asks students questions about cannabis use over the last 30 days as well as their job information.

Mon
08
Jul

Ireland: Interest grows in harvesting cannabis

When Health Minister Simon Harris recently signed legislation to allow for the operation of the Medical Cannabis Access Programme on a five-year pilot basis, he opened the door wider for an emerging sector which has significant potential to create jobs and a new revenue stream for the Government’s coffers.

The programme has taken two years to establish, mainly due to difficulties in sourcing a suitable supplier of cannabis with the required quality assurances for export into Ireland.

While this outside supplier will cater to the immediate needs of the sector, the legislation does allow for potential local producers to apply to have their cannabis products assessed for suitability.

Mon
08
Jul

Province rakes in $30 million from cannabis tax in first six months of legalization

The Alberta government scored $30 million in cannabis taxes in the first half-year of recreational pot legalization.

Alberta Gaming, Liquor and Cannabis also took in nearly $77 million from Oct. 17, 2018, until March 31 of this year from both its online sales, for which it has a monopoly in Alberta, and through its sales to private pot retailers.

From those purchases, it recorded a profit of $4.7 million.

That $30 million in tax cash culled from retail sales was $4 million over expectation, states the province’s fiscal year-end financial statement.

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