Canada’s federally regulated marijuana industry captured more illicit-market share than ever in 2023, the government’s annual Canadian Cannabis Survey suggests. Illicit-market capture is a crucial metric for legal cannabis businesses as it represents their actual total addressable market (TAM), or the revenue opportunity available for businesses operating on the legal side of … [Read more...] about Survey: 69% of Canadian cannabis consumers ‘always’ buy legal products
Canada
Wasted Weed: Canada’s Disposal of 3.7 Million Pounds of Cannabis Since 2018
In 2022 and the first half of 2023, Canada went through a whopping 611.7 million grams (yeah, that’s 1.3 million pounds) of cannabis dried bud, but not in a fun way. All of the marijuana in question was tossed out by licensed producers as the result of a disparity between how much is grown and how much people use. They chucked out nearly 44% more than the 425.3 million grams … [Read more...] about Wasted Weed: Canada’s Disposal of 3.7 Million Pounds of Cannabis Since 2018
Despite Widespread Legalization, Fewer Young People Find it ‘Easy’ To Get Pot
The number of legal cannabis retailers has exploded in North America the last decade, but that hasn’t resulted in easier access for kids. That is the takeaway from newly published survey data that examined perceptions of cannabis among youth in Canada. “Very little research has examined how perceptions of cannabis access among underage youth in Canada have changed since … [Read more...] about Despite Widespread Legalization, Fewer Young People Find it ‘Easy’ To Get Pot
Petition Calls For Canadian Regulators To Allow More Potent Edibles
Canadian cannabis advocates are calling on the federal government to relax strict limits on the potency of cannabis edibles with a petition seeking a tenfold increase in maximum permitted THC levels. Canada legalized cannabis through an act of Parliament in 2018, and retail sales of cannabis extracts and edibles were authorized for licensed operators one year later. … [Read more...] about Petition Calls For Canadian Regulators To Allow More Potent Edibles
Aurora Cannabis Announces Fiscal 2024 Second Quarter Results and Delivers Record Positive Adjusted EBITDA
EDMONTON, AB, Nov. 9, 2023 /PRNewswire/ - Aurora Cannabis Inc. (the "Company" or "Aurora") (NASDAQ: ACB) (TSX: ACB), the Canadian company opening the world to cannabis, today announced its financial and operational results for the second quarter of fiscal year 2024. As the fiscal year 2023 consisted of three quarters, the year-over-year comparison quarter for Q2 2024 ending … [Read more...] about Aurora Cannabis Announces Fiscal 2024 Second Quarter Results and Delivers Record Positive Adjusted EBITDA
Canadian cannabis sector dips five years since legalization
Output from the Canadian cannabis sector has dropped to $10.8B in July after peaking at $11.6B in November 2022, new research from Statistics Canada indicates as the country marks five years since marijuana legalization. Marijuana use among Canadians has continued to rise since the country legalized the possession and use of recreational cannabis on October 17, 2018, becoming … [Read more...] about Canadian cannabis sector dips five years since legalization
Canadian cannabis farms eligible for federal funding via CA$3.5B program
Canadian cannabis growers and processors are eligible to apply for funding under the new 3.5 billion Canadian dollar ($2.6 billion) Sustainable Canadian Agricultural Partnership program if certain conditions are met, the administrator of the initiative, Agriculture and Agri-Food Canada, told MJBizDaily. Any prospective sources of new funding would be welcome news for Canada’s … [Read more...] about Canadian cannabis farms eligible for federal funding via CA$3.5B program
Cocaine Plays? Meet the Companies With an Angle on Hard Drugs
A Canadian company is betting that illegal drugs such as cocaine are going to follow the path of cannabis. Welcome to my newsletter on the cannabis and psychedelics industries. This week, I take a look at companies that are positioning themselves to benefit from a potential wave of decriminalization of hard drugs, including cocaine. ‘Safe’ supply? If “what are you smoking?” … [Read more...] about Cocaine Plays? Meet the Companies With an Angle on Hard Drugs
Square’s Canadian cannabis deal plants seeds for U.S. growth
Square's first market for cannabis payments is Canada, but that's unlikely to be where things end — the payments company is laying the foundation for the legalization of marijuana in the U.S. market if the regulatory picture becomes more clear. Square has partnered with Jane, an ordering platform service for cannabis dispensaries, to support weed dispensaries in Canada. Square … [Read more...] about Square’s Canadian cannabis deal plants seeds for U.S. growth
Cannabis producer Canopy’s subsidiary BioSteel enters ‘hibernation’ ahead of planned sale
Struggling Canadian cannabis producer Canopy Growth Corp. is ceasing funding of its BioSteel subsidiary and plans to conduct a court-supervised sale of the brand and its property, the Ontario-based company said Thursday. BioSteel, a popular sports nutrition and hydration brand, obtained an initial order for creditor protection under the Companies’ Creditors Arrangement Act … [Read more...] about Cannabis producer Canopy’s subsidiary BioSteel enters ‘hibernation’ ahead of planned sale