Canada: Aurora Cannabis buys stake in Liquor Stores N.A. Ltd., plans cannabis stores

Aurora Cannabis Inc. has signed a deal to buy a minority stake in Liquor Stores N.A. Ltd., which plans to launch a brand of cannabis retail stores.

Under the deal, Aurora will acquire a 19.9 per cent stake in the company for $103.5 million through a non-brokered private placement.

It will also have an ability to increase its interest in Liquor Stores up to 40 per cent with an additional investment.

Liquor Stores plans to use the money to establish and launch a brand of cannabis retail outlets.

The retailer says it will convert some of its existing stores into cannabis outlets and establish new locations.


Canada: World's biggest licensed cannabis facility gets green light to grow

The world’s largest licensed cannabis facility just got the green light to start growing right outside of Edmonton.

Aurora Sky, the 800,000-square-foot greenhouse located on the Edmonton International Airport land, received its Health Canada cultivation licence Monday.

“We are excited as can be,” said Cam Battley, Chief Corporate Officer of Aurora Cannabis.

The greenhouse is still under construction but has several grow rooms prepared to get rolling as early as this week.

“We are ready to start growing right away,” Battley said.

“We’re anticipating our first harvest in the second calendar quarter of this year, and completing the entire 800,000 square feet by this summer.”


Forget about oil. Alberta is poised to become the province of marijuana

Associated professor at the Cumming School of Medicine and the O'Brien Institute for Public Health at the University of Calgary. She was the lead author of the Cannabis Evidence Series, commissioned by the Alberta government to inform its provincial response to federal legalization.

The friendly market takeover of CanniMed Therapeutics by Aurora Cannabis will have a significant impact on the cannabis production and distribution landscape in Alberta.


Cannabis sector deal-making already off to a hot start in 2018

The first week of 2018 has seen a number of deals in Canada’s cannabis industry — a busy start to a year that is expected to include the legalization of recreational pot and plenty of mergers and acquisitions in the sector in general. Here’s a round up of some of the most notable transactions from the past seven days:

Going Dutchman

On Friday, Edmonton-based Aurora Cannabis Inc. announced that it had struck a $55-million deal to buy, via private placement, an initial 17.62 per cent stake in Ancaster, Ont.-based The Green Organic Dutchman Holdings Ltd. (TGOD).

TGOD is a licensed medical marijuana producer eyeing a March 2018 initial public offering.


Medical marijuana sales surge at Aurora ahead of recreational pot legalization

The already-legal medical marijuana market is providing brisk business for Canadian cannabis companies as they await the end of prohibition on recreational pot later this year. 

Alberta-based Aurora Cannabis Inc., one of Canada’s largest licensed medical marijuana producers, said Tuesday that November 2017 had been a “record” month for sales at home and in Germany, where medical cannabis is also legal. 

Aurora said it sold 354,000 grams or gram equivalents in November, and reported net cannabis revenues of $3.1 million. That’s up significantly from the same period in 2016, when the company’s sales topped 200,000 grams for what was then a record.


Legal Cannabis product sales projected to grow

According to a research report by Arcview Market Research, the legal cannabis market is estimated to grow from $6.7 billion in consumer spending in 2016 to $22.6 billion in 2021.

The report also indicates that the amount of cannabis that cultivators will need to grow to feed the demand this spending represents will grow at a 23% compound annual growth rate (CAGR), from 1.7 million pounds in 2016 to 4.8 million pounds by 2021.

The positive projections are due to increasing legalization of cannabis products. Two major markets are legalizing cannabis for recreational use - Californiaand Canada. While California is the largest market, Canada is projected to show strong sales as well.


Albertans give positive marks to provincial government's marijuana plan

A new poll finds most Albertans are satisfied with the marijuana-related policies recently introduced by the Alberta government.

The poll was conducted by Insights West Poll and the results were released Monday.

The online survey found 88 per cent of Albertans agree with the government decision not to allow marijuana to be smoked in vehicles, school property or parks.

It also found 77 per cent in favour of ensuring 18 will be the legal age to acquire marijuana in Alberta and 78 per cent agree marijuana stores should operate under a specific license meaning they don’t want to see the product sold at liquor stores or drug stores.

When it comes to allowing people to grow marijuana in their home; 63 per cent say they should have no more than four plants.


Will second-hand smoke lead to failure of workplace drug testing?

It looks like Canadian Olympic gold medalist snowboarder Ross Rebagliati may have been right all along.

Rebagliati, the first Olympic gold medalist for Men's Snowboarding at the 1998 Winter Olympics, was initially disqualified after THC, the main ingredient in marijuana, was found in his system in a drug test.

The decision was eventually overturned since cannabis wasn't a banned substance but Rebagliati maintained the positive drug test was the result of second-hand smoke.

Now a study from the Cummings School of Medicine at the University of Calgary seems to support his claim.


Canada: Alberta courts could face increased workload with marijuana legislation

Legalizing marijuana in Canada is coming down the pipeline, which poses some serious challenges for lawmakers.

First among those challenges is ensuring there’s a proper method to prove someone was actually impaired from marijuana use. In an effort to understand those challenges, Ponoka News reached out to Rod Clark, a counsellor with SIRRS LLP Law Group in Ponoka.

Clark was the chief Crown prosecutor in Wetaskiwin before joining SIRRS early last year.

He says there’s two areas of law that are affected by the legalization of marijuana, the first is on the criminalization of marijuana and the second is on the civil side.


Alberta betting on booming marijuana market

Unlike Ontario and Quebec, Alberta has taken free market approach. Recreational marijuana will be sold in privately owned retail stores and there could be a lot of them because at this point there is no limit on the number.

So far it looks like Alberta will be the go-to province for marijuana entrepreneurs lining up to get in on the action when selling pot becomes legal next summer.

Unlike Ontario and Quebec, Alberta has taken a free market approach. Recreational marijuana will be sold in privately owned retail stores and there could be a lot of them because at this point there is no limit on the number.


Subscribe to RSS - Alberta