Cannabis Industry Facing a Credit Crunch as Scrutiny, Skepticism Mount

CANNABIS Cannabis industry facing a credit crunch as scrutiny, skepticism mount 'Anecdotally, we have learned that most of the big banks have put a pause on new lending' By Vanmala Subramaniam Besides late-stage cannabis applicants, cannabis retailers also appear to be facing a similar challenge in borrowing from the major banks. Getty Images Cannabis companies that got into the game earlier had more luck with the banks cannabis applicant Anecdotally, we have learned that most of the big banks have put a pause on new lending Michael Ruscetta, CEO of Trichome

Article by Vanmala Subramaniam, Growth Op Small and mid-sized cannabis companies say they are finding it increasingly hard to obtain basic credit facilities from some of Canada’s largest financial institutions amid heightened scrutiny on the struggling sector. “It seems that most charted banks do not want to entertain new applications for lines of credits, loans, or new bank accounts,” said ...

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Meet Six People Turning Alberta Into The Cannabis Centre of Canada

BUSINESS Meet six people turning Alberta into the cannabis centre of Canada From creative retailers to master growers the cannabis talent is blooming in the western province By Skyler Ash Founder and CEO of Queen of Bud, Ashley Newman. Instagram Alison McMahon, Founder & CEO of Cannabis At Work, pictured in 2017. Founder and CEO of Queen of Bud, Ashley Newman. (Instagram) Chief Cultivator for Aurora Cannabis, John Barnet. Cannabis Hemp Conference Co-founders of Green Earth Cannabis, Jason Marshall and Irene Struc. General manager for a Spiritleaf location in Calgary, Mona Pinette. (LinkedIn)

Article by Skyler Ash, Growth Op Alberta loves cannabis. Some argue it has become the centre of Canada when it comes to weed. As of December, 360 stores had applied for a cannabis license to the province’s Alberta Gaming, Liquor and Cannabis agency. “Alberta’s done a great job in building a network,” said Dave Bigoni, chief marketing officer at Canopy ...

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Buy the Shop, Not the Pot: Cannabis Retail Chains May Outshine Producers

Buy the shop, not the pot: Cannabis retail chains may outshine producers Jeff LagerquistYahoo Finance Canada Buy the shop, not the pot: Cannabis retail chains may outshine producers Pedestrians pass the yet-to-be-opened Fire & Flower cannabis store in Toronto's luxury shopping district in June 2019. (Yahoo Finance Canada) Buy the shop, not the pot: Cannabis retail chains may outshine producers A one-year view of Fire & Flower, High Tide, and Meta Growth shares compared to the Horizons Marijuana Life Sciences Index ETF. (Yahoo Finance Canada)

Article by Jeff Lagerquist, Yahoo Finance Canada Canadian cannabis retail chains see themselves as the kingmakers of brands, and the growth engine driving the sector as more store locations broaden access to legal pot. Analysts expect a strong performance from pot shop chains in 2020, as producers seek to wedge pricier products into limited store space. However, the capital crunch of 2019 ...

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The Globe and Mail Brings End to Cannabis Publication, Folds Coverage Into Newspaper

BUSINESS The Globe and Mail brings end to cannabis publication, folds coverage into newspaper Subscribers can receive prorated refunds for the remainder of their subscriptions By David Yasvinski FILE: TORONTO, ONTARIO: Jul 2, 14 - A view of the Globe and Mails offices in Toronto, Ontario, July 2, 2014. Employees of the newspaper are taking a strike vote today. Tyler Anderson/National Post FILE: TORONTO, ONTARIO: Jul 2, 14 - A view of the Globe and Mails offices in Toronto, Ontario, July 2, 2014. Employees of the newspaper are taking a strike vote today. Tyler Anderson/National Post

Article by David Yasvinski, Growth Op A tumultuous year for cannabis in Canada has carried over into 2020 with news that Report on Business Cannabis Professional,TheGlobe and Mail’s marijuana publication, will stop publishing soon. “Cannabis Professional will be discontinued as a stand-alone product as of Feb. 1, 2020,” Lanna Crucefex, communications manager for TheGlobe and Mail, told The GrowthOp. “Instead, we will be ...

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Veterans Affairs Canada Mulls Adding Disposable Vape Pens to Reimbursement Program

HEALTH Veterans Affairs Canada mulls adding disposable vape pens to reimbursement program Many users prefer to vape instead of smoke since it is believed to be less harmful to the respiratory system, but still a quick and effective treatment against some PTSD symptoms By Emma Spears FILE: Canadian Forces Master Corporal Shamus O'Reilly (L), gets a little taste of some sauce from Ronnie Fishman (R) of Hempster before a seven-course gourmet cannabis-infused dinner at Hempster's Veteran Appreciation Dinner (catered by The Food Dudes). Ten Canadian military veterans dealing with PTSD enjoyed the dinner prepared with their veterans' own prescription cannabis Saturday February 10, 2018. Jack Boland/Toronto Sun/Postmedia Network

Article by Emma Spears, Growth Op Veterans Affairs Canada (VAC) is mulling putting disposable cannabis vape pens on the list of drugs and devices that qualify for a reimbursement program. The department has categorized vaporizers as medical devices for about five years. Veterans, as well as retired RCMP officers, may be reimbursed up to $300 for their purchase of a vape to ...

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McMaster Discovers Cannabis Compound May Be Weapon in Fighting Superbugs

HEALTH McMaster discovers cannabis compound may be weapon in fighting superbugs Scientists tested CBG on MRSA-infected mice and found it matched the efficiency of a widely used antibiotic. By Emma Spears FILE: Methicillin-Resistant Staphylococcus aureus Scanning electron micrograph of a human neutrophil ingesting MRSA. Handout/ NIAID FILE: Biofilm of antibiotic resistant bacteria. Rod-shaped and spherical bacteria. Escherichia coli, Pseudomonas, Mycobacterium tuberculosis, Klebsiella, Staphylococcus aureus, MRSA. 3D illustration Getty Images/iStockphoto

Article by Emma Spears, Growth Op A team of Ontario researchers have discovered that a cannabis-derived compound may be effective in killing drug-resistant bacteria. Microbiologists from Hamilton, Ont.’s McMaster University explored the potential antibiotic properties of five cannabis-derived compounds. They discovered that CBG (cannabigerol) — the lesser-known sibling of more popular cannabinoids such as THC (tetrahydrocannabinol) and CBD (cannabidiol) — was capable ...

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B.C. Cities That Veto Retail Weed Creating Vast Cannabis Deserts

B.C. cities that veto retail weed creating vast cannabis deserts More than 1.5 million British Columbians have no local retail access to recreational cannabis. RANDY SHORE

Article by Randy Shore, Vancouver Sun More than 1.5 million British Columbians in Metro Vancouver and the Fraser Valley have no local retail access to recreational cannabis more than a year after weed was legalized for sale. “In B.C., municipalities have been given veto power over the rights that the federal government has given to Canadians, the right to regulated, ...

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PEI-Based Company Brings its Fruity, Master Vapes to the Ontario Cannabis Store

NEWS PEI-based company brings its fruity, master vapes to the Ontario Cannabis Store Master Vape Pods are available in Citrus, Melon, Mixed Berry and Terpene varieties. By David Yasvinski

Article by David Yasvinski, Growth Op The Master Vapourizer has arrived. Figr is looking beyond Atlantic Canada, having just launched its new line of vaping products that will be available first at the Ontario Cannabis Store and then select retail locations across the country. “Our new vape pods and cartridges are designed to deliver the same experience our customers expect ...

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Canadian Cannabis Companies Facing Multiple U.S. Lawsuits

THE GROWTHOP Canadian cannabis companies facing multiple U.S. lawsuits Canopy Growth, Aurora Cannabis and Hexo Corp. draw ire of investors By Sam Riches A worker walks past rows of cannabis plants growing in a greenhouse at the Hexo Corp's facility in Gatineau, Quebec. Photo: Chris Roussakis/Bloomberg Three of Canada’s largest cannabis producers are facing multiple lawsuits in the United States, CBC is reporting.

Article by Sam Riches, Growth Op Three of Canada’s largest cannabis producers are facing multiple lawsuits in the United States, CBC is reporting. At least nine U.S. law firms are pursuing cases against Aurora Cannabis, Canopy Growth, and Hexo Corp., CBC said, with allegations ranging from misleading investors to failing to disclose problems with their businesses. As stock prices soared leading ...

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Blocking Off Illegal Cannabis Dispensaries With Concrete Slabs Cost More Than $350,000, Toronto Says

Giant cement blocks were placed in front of the Cannabis and Fine Edibles (CAFE), an unlicensed cannabis store near Fort York and Bathurst, in July. GTA Blocking off illegal pot stores with concrete slabs cost more than $350,000, Toronto says Gilbert Ngabo By Gilbert NgaboStaff Reporter A total of 27 stores across the province have been given the green light to start selling cannabis-infused edibles and products starting last week.

Article by Gilbert Ngabo, Toronto Star It cost the city more than $350,000 to install — and then reinstall — giant concrete slabs to block the entrance to four illegal cannabis shops in Toronto last summer. The city’s senior communications adviser Alex Burke said the total cost was $361,459.49, which included the costs of labour to install, remove and reinstall ...

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