Tag: Canada

LFLY-4.46%+ Free Alerts, a leading online cannabis marketplace and resource for marijuana users, is shifting its focus from journalism about the industry to offering consumer-oriented content, which will include product information. WeedWeek and newsletter Cultivated were the first to report the news. Consumer Education Is The Way Leafly aims to shift its content strategy towards being more focused on products and marketplaces, with the goal of providing consumers with valuable information to help them make better purchasing decisions, a company spokesperson told MJBizDaily. Former Leafly… Read more.

Marijuana multistate operator TerrAscend Corp. could become the first U.S. plant-touching company to list on the Toronto Stock Exchange by this summer if the restructuring plan it shared with shareholders and analysts wins TSX approval. And if the company is successful, that potential could trickle down to other U.S. plant-touching cannabis operators, which have been barred from major exchanges because marijuana remains federally illegal in the United States. Massachusetts-based Curaleaf Holdings, for example, has also had discussions with the TSX about the possibility… Read more.

Potency testing on store-bought cannabis flower by a Canadian laboratory has found THC levels significantly lower than the labeled value, sparking an industrywide conversation about how to address inaccurate THC claims. Rob O’Brien, CEO and chief science officer of Kelowna, British Columbia-based licensed cannabis testing laboratory Supra Research and Development, shared the findings from his Canadian potency tests online. O’Brien tested 46 different cannabis flower products, grown by 21 producers, in a variety of package sizes purchased from several different stores in… Read more.

Cannabis retailer High Tide Inc. (NASDAQ: HITI) (TSXV: HITI) (FSE: 2LYA) released first-quarter results Friday, posting a 64% year-over-year revenue increase. "Our Q1 earnings numbers represent the best quarter ever in High Tide’s history in terms of revenue, adjusted EBITDA, and market share growth. Q1 is now our second consecutive quarter of record revenue and adjusted EBITDA and saw a meaningful improvement in our free cash flow position," said CEO Raj Grover. HITI Financial Highlights Revenue increased to $118.1 million in the first… Read more.

Adastra Labs, a Langley-based company known for its cutting-edge cannabis and ethnobotanical products, has recently received approval from Health Canada for an amended license. This license permits the lawful possession, production, distribution, and sale of a highly regulated substance. Following decriminalizing personal amounts of controlled substances in British Columbia, Adastra can now interact with up to 250 grams of cocaine and import coca leaves to create and synthesize the substance. As a leading manufacturer and supplier of innovative scientific products, Adastra Labs… Read more.

An increasing amount of cannabis grown by licensed Canadian producers has been lost or stolen over the past five years, new data shared with MJBizDaily shows. Separate data provided by Health Canada, the department responsible for federal health policy, also revealed that thousands of instances of theft have been reported to various levels of police. However, the sum of the missing products – including 2,219 kilograms (4,870 pounds) of dried cannabis – is a small fraction relative to the amount… Read more.

The Benzinga Cannabis Capital Conference, the world's largest gathering of cannabis decision-makers, founders and investors is returning to Miami Beach, Florida on April 11-12, 2023 and Raj Grover, president and CEO of High Tide, will be there. High Tide Inc.  HITI+1.48%+ Free Alerts is Canada’s largest non-franchised retailer of recreational cannabis so you won't want to miss out on what he's got to say about the industry. Need A Business Strategy? Ask A Transparent Negotiator Since starting his first company at the age of 22, Grover established himself as one of Canada’s foremost… Read more.

Since recreational use of cannabis became legal in Canada in 2018, the federal government of that country has imposed a total duty on cannabis products of over 1 billion Canadian dollars ($740 million). Executives expect that the government would ease the tax and excise regime it imposes on the sector as employment and financial losses rise as the milestone is reached. Around CA$862.3 million in total duty on cannabis products was levied by the federal government between the 2018–19 and 2020–21… Read more.

Adastra Labs, a cannabis company based in Langley, British Columbia, announced that it had received approval from Health Canada to include cocaine as a substance that it can legally process, sell, and distribute. B.C. Premier David Eby said he was “astonished” when he became aware of the news, according to CTV News. “The short answer is I was astonished by this announcement. I understand that this company says Health Canada has given them some sort of authorization. It is not part of our… Read more.

Two young entrepreneurs turned their zeal for fizzy drinks and cannabis into a craft beverage brand, using tasteless full-spectrum cannabis as well as organic and simple ingredients. Canada-based Zèle (pronounced zéll) is helping to transform the cannabis beverage game, led by CEO and Formulator Callum Hanton, and National Brand Manager Jonathan Martin. Both were under the age of 20 when Hanton first developed the company’s proprietary technology, and when they launched the brand. “We have overcome many hurdles to get to where we… Read more.

Canada’s cannabis consumers spent 4.52 billion Canadian dollars ($3.35 billion) on regulated adult-use products in 2022, growing 17.9% over 2021’s sales total, according to new retail sales data released Tuesday by Statistics Canada. The year-over-year sales increase came as the number of licensed cannabis stores in Canada increased. In 2021, Canadians bought CA$3.83 billion worth of recreational cannabis from licensed stores. Despite the notable year-over-year increase, the pace of cannabis sales growth in Canada appears to be slowing, said Michael… Read more.