Monthly retail sales of legal adult-use marijuana in Canada declined by 7.1% from December 2022 to January 2023, to 395.5 million Canadian dollars ($287 million). Canadian cannabis sales grew 14.1% on an annual basis from January 2022, according to retail sales data released Friday by Statistics Canada. Month-over-month recreational cannabis sales declined in every province … [Read more...] about Canada adult-use marijuana sales down 7.1% monthly to CA$395.5M in January
Canada
Victoria Cannabis Buyers Club raided by province
A provincial government crew took virtually the entire stock from the Victoria Cannabis Buyers Club on Thursday morning. The Community Safety Unit from the Ministry of Public Safety and Solicitor General is responsible for enforcement under the Cannabis Control and Licensing Act and focuses on the illegal sale and production of cannabis. The unit carries out activities against … [Read more...] about Victoria Cannabis Buyers Club raided by province
Canadian cannabis industry reckons with inflated THC label claims
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 … [Read more...] about Canadian cannabis industry reckons with inflated THC label claims
Cost, hangovers and access to cannabis have some in Waterloo region rethinking if they drink alcohol
Jala Vicario-Robinson says she still buys the occasional craft beer but hasn't been drinking much over the past couple of months. "It is quite expensive," she said. "And also I don't really like the way I feel ... the next day afterwards, so I usually opt for cannabis or something like that instead." It appears Vicario-Robinson is not alone in curbing her alcohol purchases. … [Read more...] about Cost, hangovers and access to cannabis have some in Waterloo region rethinking if they drink alcohol
Marijuana company Atlas Global, Snoop Dogg sign international licensing deal
Canada-based global marijuana company Atlas Global Brands signed an “exclusive international licensing agreement” with hip-hop artist Calvin Broadus Jr., better known as Snoop Dogg. Atlas Global did not disclose the financial terms of the licensing deal, which will last for up to five years, according to a news release. The agreement applies to adult-use marijuana products in … [Read more...] about Marijuana company Atlas Global, Snoop Dogg sign international licensing deal
Cannabis producer Cronos Group ends year with $168.7 million loss
Canadian cannabis producer Cronos Group lost $78.9 million in its fourth quarter ended Dec. 31, bringing the company’s net loss for the year to $168.7 million. The Toronto-based company on Tuesday reported that its net revenue grew 23% year-over-year to $91.9 million in 2022. Cronos’ revenue in the United States fell 48% in the same time period, to $5.2 million in 2022. That … [Read more...] about Cannabis producer Cronos Group ends year with $168.7 million loss
Ontario is dropping its weed profit margins to get the ‘upper hand’ over the illegal market
Marijuana buds are seen in this photo taken at an Ottawa cannabis store. The average price for cannabis was $11.78 per gram at the start of 2019, shortly after legalization, but fell to $7.50 per gram in 2021, a November report said. (Andrew Lee/CBC) The Ontario Cannabis Store says it will be reducing its price margins in a bid to help pot retailers compete with the illicit … [Read more...] about Ontario is dropping its weed profit margins to get the ‘upper hand’ over the illegal market
SNDL cutting 85 position as marijuana job losses near 1,000 in Canada
Calgary, Alberta-based SNDL is cutting 85 jobs as a part of a plan to deliver approximately 9 million Canadian dollars ($6.7 million) in cost savings, making it the latest Canadian cannabis firm to cut staff. CEO Zach George said in a Monday announcement that SNDL made the decision to ax staff and activity in Olds, Alberta, to improve efficiency, citing massive overproduction … [Read more...] about SNDL cutting 85 position as marijuana job losses near 1,000 in Canada
Canada’s crackdown on some cannabis extracts could cost industry millions
Health Canada has begun asking some federally licensed marijuana companies to stop selling certain ingestible cannabis products the regulatory agency says are incorrectly classified and labeled as “extracts” rather than “edibles,” MJBizDaily has learned. The move could cost cannabis businesses millions of dollars, Canadian industry sources say, because the products in question … [Read more...] about Canada’s crackdown on some cannabis extracts could cost industry millions
Canadian recreational cannabis sales fall for second straight month
Consumer sales of recreational cannabis products in November 2022 fell in almost every Canadian province and major city, according to newly released data by Statistics Canada. Overall, the country saw a 4.3% monthly decline in adult-use sales to 373.3 million Canadian dollars ($277 million) in November, marking the second straight monthly decline. Ontarians bought CA$147.2 … [Read more...] about Canadian recreational cannabis sales fall for second straight month
