CannTrust plunges after missing fourth-quarter estimates
Shares of CannTrust Holdings Inc. (TRST.O 0.13%) slipped more than 18 per cent after it reported a fourth-quarter revenue bump on the legalization of recreational cannabis in October but missed expectations and swung to a net loss.
In its first quarter to capture post-legalization recreational sales, the Vaughan, Ont.-based licensed producer reported record revenues for the three-month period ended Dec. 31, up 132 per cent from a year earlier.
CannTrust posted a fourth-quarter net loss of $25.5 million or 26 cents per share, compared to a $6.3 million profit or eight cents per share during the same quarter in 2017. Read full article here.
Cannabis craze comes to China stocks, drawing regulator's ire
Chinese companies linked to cannabis growing tumbled Thursday, as regulators put the squeeze on one of the year’s hottest trades.
Shanghai Shunho New Materials Technology Co. and Jilin Zixin Pharmaceutical Industrial Co. both slid more than 6 per cent after the Shenzhen Stock Exchange told them to warn investors about uncertainties facing their industrial cannabis projects. In written notices, the exchange also asked the companies to submit progress reports on those businesses before April 2. Neither company immediately responded to Bloomberg’s requests for comment. Read full article here.
R.I. demand for medical marijuana skyrocketing
While state lawmakers consider legalizing recreational pot this year, sales of medical marijuana continue to hit new highs.The reason isn’t just that more people are ailing, state regulators say.
The state’s three medical marijuana dispensaries are on pace to sell about $56 million worth of medicinal pot in fiscal 2019, said Norman Birenbaum, the state’s top marijuana regulator. That’s $17.8 million, or 46.6 percent, more than in fiscal year 2018.
And that year itself was record-breaking, with $38.2 million worth of pot sold, Read full article here.
Charlie Sheen announces “Sheenius” new line of cannabis vapes
Charlie Sheen has announced plans to release his own official line of cannabis vapes, which he has named “Sheenius.”
The vape pens have names that range from the lighthearted “Milli’s Vanilli” and “MaliBlue Dream” to the eclectic “Grandma’s Perfume” and the Juggalo-evoking “Clown Mace.”
“Clown Mace is pretty good, because what clown shouldn’t be maced?’ hetold the Daily Mail. “One of our favorites is Grandma’s Perfume.”
Sheen said that he decided to start the line after becoming fed up with seeing “bootleg” unauthorized cultivars and cannabis products bearing his name. Read full article here.
Small-batch bud growers hope to eke out share of cannabis market
Rod Wilson planned to spend his golden years growing lavender and Christmas trees when he bought a five-acre farm outside Moncton a few years ago, but the call of a new niche industry proved too strong.
With a group of investors he also calls friends, Wilson is hoping to get in on the ground floor as a grower of small-batch, high-quality cannabis.
"How often in your career do you get a chance to potentially participate in something that's brand new, ground floor?" he asked. Read full article here.
Lift & Co. Announces More Than 600 Individuals
Now CannSell Certified in Anticipation of Ontario Cannabis Retail SalesSubmitted by Marijuana News on Fri, 03/29/2019 - 10:19 Read full article here.
Soft(ware) sell: BLOCKStrain platform tracks cannabis strain genetic signatures from genome to sale
In 2014, after spending more than 10 years in advertising, communications and law, Robert Galarza found himself back in his home state of California looking for a new challenge.
“Those were the ‘Wild West’ days of legalized cannabis,” Galarza recalls. Valuable strains were being pirated and grown on the black market, the original cultivators weren’t being paid their legitimate licensing fees and, too often, consumers were being duped into buying phony knock-offs that didn’t contain any of the specific strains advertised on the packaging, he relates. Read full article here
Montreal cannabis grower hits trifecta with three Health Canada licences
Montreal-based Great White North Growers Inc. (GWNG) reports applications for cultivation, processing and medical sales licences have been approved by Health Canada, a development that positions the company well, and early, for the developing Quebec market.
“Great White North Growers becomes the first aeroponic facility and only the second company to be fully licensed on the island of Montreal,” notes a statement from the privately held, Quebec-owned national company that produces premium pharmaceutical-grade medical and recreational cannabis flowers and derivatives. Read full article here.
CBD oil shortage continues as marijuana producers scramble to meet demand
Mona Scott was one of the first people to line up at a marijuana store in Nova Scotia on the first day of recreational legalization, eager to get her hands on a type of non-impairing cannabis extract after hearing about its medicinal benefits.
But she quickly discovered there was no CBD oil in stock that day in October, nor have there been any bottles in the 10 times since that she's visited the Nova Scotia Liquor Corp. store in Truro, N.S.
"The last time I went in was about the first week of December when the guy walked over to me and said, 'We don't have any and we're not going to have any for six months,'" said Scott, who sought out the oil to treat her anxiety. Read full article here.
ParcelPal is innovating the cannabis home delivery experience
This week, we attended the CannaGather Colorado event and were impressed with the types of companies that attended this cannabis networking event. One of the interesting takeaways that we had from this event pertained to the increasing number of cannabis companies that are focused on ancillary business opportunities. Read full article here.
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