Ontario

Mon
27
Aug

Canada: Cannabis companies urge delay for new tax

With Ontario delaying the opening of storefront pot shops until the spring, cannabis producers are pushing back against a proposed federal levy on their sales.

Health Canada wants to slap large-scale marijuana producers with a 2.3 per cent fee on their gross revenue to cover the federal government’s cost of regulating the nascent industry – a job pegged at $82 million over the next fiscal year.

But an industry umbrella group is urging the government to suspend the levy until after April 1, when bricks-and-mortar dispensaries will open in Ontario, giving cannabis companies a better idea of what their sales numbers will look like.

Thu
23
Aug

Canada: What you need to know about buying marijuana online in Ontario as soon as it's legal

Ontario's online cannabis store opens Oct. 17.

In just a few weeks people in Ontario will be able to legally buy marijuana for the first time and we're learning more now about exactly how the new system will work.

The Ontario Cannabis Store announced Monday the names of 26 licensed producers for its online retail platform, the province's only online retailer for recreational pot this fall.

Wed
22
Aug

Canada: Marijuana stocks up after Ontario announces cannabis supply agreements

Some marijuana sector stocks are up slightly after Ontario announced supply agreements with 26 licensed producers in preparation for legalization of recreational pot this fall.

Smaller producers which signed initial agreements with the Ontario Cannabis Store, which will be selling pot online starting on Oct. 17, saw bigger lifts in the volatile sector.

Shares of licensed producer Beleave Inc. were up roughly 16 per cent to $1.55 in Toronto while Newstrike Brands Ltd.'s stock was up more than 21 per cent to $0.67.

Ontario announced late Monday that it had signed agreements with 26 licensed producers such as Canopy Growth Corp., Aurora Cannabis and Aphria Inc. as well as smaller players including Starseed Medicinal Inc. and Solace Health Inc.

Tue
21
Aug

Canada: Ontario Cannabis Store announces supply agreements with 26 licensed producers for online sales

The online retailer says it will sell a variety of products, including dried flower, cannabis oil and cannabis seeds, when pot becomes legal on Oct. 17. The Ontario Cannabis Store says it has partnered with 26 licensed producers for its online retail platform.

The store, which will be Ontario’s only online retailer when recreational marijuana is legalized in the fall, said Monday that the supply agreements with Health Canada-authorized producers were competitive. The online retailer says it will sell a variety of products, including dried flower, cannabis oil and cannabis seeds, to customers 19 and older when pot becomes legal on Oct. 17.

Tue
21
Aug

Organigram becomes an official cannabis supplier to the Province of Ontario, Canada's largest adult recreational market

Organigram Holdings Inc. (TSX VENTURE:OGI) (OTCQB:OGRMF), the parent company of Organigram Inc., a leading licensed producer of medical marijuana, is pleased to announce that it has been approved as a supplier of cannabis for the province of Ontario.

Under the terms of the agreement with Ontario Cannabis Retail Corporation (OCRC), Organigram will provide the Province with 27 SKUs of products including dried flower, pre-rolled product, cannabis oils and the premium offering of the Edison Reserve brand.

Mon
20
Aug

Privacy issue with online cannabis sales needs watching after legalization, experts say

Buyers who have to provide personal information to purchase recreational pot online after legalization this fall should be able to rely on existing laws to protect their privacy but the issue needs to be watched closely to ensure regulations are obeyed and mistakes are avoided, experts say.

The matter is important given the stigma many people still attach to cannabis use, and the potential for Canadians to be barred from the United States if their otherwise legal indulgence becomes known to American border agents.

Fri
17
Aug

Canada: Ontario coffee chain Second Cup may pivot to pot, as marijuana goes legal in Canada

Instead of tea pots, you may be able to buy pot tea at Second Cup’s Ontario locations starting in April 2019. The Canadian coffee chain said it’s considering converting some of its 130 locations from caffeinated beverages to retail marijuana outlets, according to The Globe and Mail. The company’s stock was up 30% in intraday trading, and closed Thursday up 10% for the week, but below some recent highs.

Thu
16
Aug

PCs' cannabis store scheme buys time for city to develop local policy

The Ontario Progressive Conservative government’s cannabis sales scheme has bought time for the City of Ottawa to develop a local policy, but the municipal government still needs to move fast so the next city council can make a decision shortly after taking office in December.

While the PCs are giving municipalities the choice of not having any pot shops, it’s unlikely that municipal politicians in a major city like Ottawa, sometimes bashed as the “city that fun forgot,” would attempt to block legal cannabis stores from operating inside the municipal boundaries.

Online sales through the Ontario Cannabis Store website begin Oct. 17. Private retail storefronts can begin licensed operations by next April 1 after the province holds consultations on the sales strategy.

Wed
15
Aug

Marijuana stocks plummet in wake of Ontario's private-sector sales delay

Shares of Canada’s cannabis companies fell sharply on Tuesday morning as investors reacted to news that Ontario will initially limit sales of the drug when it becomes legal on Oct. 17.

Ontario had previously planned to open government-run stores in October. The new Doug Ford government, however, has decided to allow the private sector to operate stores but not until next spring. The government does plan to sell cannabis online starting in October.

The delayed opening of Canada’s largest market for cannabis is a blow for the industry. Investors sent stocks lower on Tuesday. Canopy Growth Corp., the most prominent name in the industry whose ticker is WEED, led the declines.

Tue
14
Aug

Ontario to allow private retailers to sell cannabis, province will handle online sales

Ontario's Progressive Conservative government announced Monday it will allow recreational pot to be sold in retail stores while the province will handle online sales.

Minister of Finance Vic Fedeli and Attorney General Caroline Mulroney laid out the government's plan for a hybrid system in an announcement Monday at Queen's Park, stressing their priorities would be ensuring public safety and eliminating the black market. 

"The government of Ontario will not be in the business of running physical cannabis stores," said Fedeli. "Instead we will work with private-sector businesses to build a safe, reliable retail system that will divert sales away from the illegal market."

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