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CALGARY – Maple Leaf has signed a contract with Rethinking Construction  of Calgary, Alberta to complete the construction of the company's proposed cannabis cultivation facility located in Telkwa, British Columbia. 

The Telkwa Facility will be completed using RC's Canna-Shield™ system, which offers a factory manufactured panelized building solution using Canadian Construction Materials Centre certified magnesium oxide board. 

RC is currently supplying its Canna-Shield system to several cannabis operations in North America. 

The Canna-Shield™ product offers fire, water, mold, impact, and insect resistance, ideal for the cannabis industry. 

It is anticipated that RC will commence construction of the Telkwa Facility immediately after the foundation construction for the Telkwa Facility is completed.
TORONTO – Even though Ernest Small was the biggest legal grower of legal marijuana in North America back in the 1970s and is the federal government's foremost pot expert, the Canadian researcher is in disbelief that the country is on the cusp of legalizing the drug's recreational use.
VANCOUVER – Cannabis growth company MYM Nutraceuticals Inc. announced that the Company has entered into a binding letter of intent with Budly Software Inc., a software company that has developed a smartphone-enabled sales and distribution system connecting medicinal cannabis patients with local dispensary drivers for fast delivery and monitoring of orders.

MONTREAL – The hot button issues of sexual harassment in the workplace and cannabis legalization joined a leading Canadian law firm's annual top 10 list of legal risks for businesses in 2018.
TORONTO – Canada's main stock index is barely out of the red as the health-care sector, which includes some of the biggest marijuana companies, dropped sharply. 

Cannabis stocks were pummelled after The Associated Press reported that U.S. Attorney General Jeff Sessions will rescind an Obama-era policy that generally barred federal law enforcement officials from interfering with marijuana sales in states where pot is legal.

The S&P/TSX composite index was up 0.24 of a point to 16,371.79, after 90 minutes of trading.

In New York, the Dow Jones industrial average was up 148.31 points to 25,070.99. 

The S&P 500 index was up 15.56 points to 2,728.62 and the Nasdaq composite index was up 21.79 points to 7,087.32.

The Canadian dollar was trading at 79.90 cents US, up from an average price of 79.79 cents US on Wednesday.

The February crude contract was up 13 cents to US$61.76 per barrel and the February natural gas contract down one cent to US$3.00 per mmBTU.

The February gold contract was unchanged at US$1,316.20 an ounce and the March copper contract was unchanged at US$3.24 a pound.


Source: The Canadian Press 
SASKATOON – CanniMed Therapeutics Inc. is urging its shareholders to reject a hostile takeover bid by competitor Aurora Cannabis Inc., admonishing the value of the proposed deal and its effect on its share price.

In a letter to shareholders released Wednesday, the Saskatoon-based medical marijuana producer said its shares are trading above Aurora's offer of $24 and would likely be higher if it were not for the all-stock hostile bid.

CanniMed said the Edmonton-based company is offering shares that were worth only half as much just two weeks before its hostile bid was announced last fall and that it is inferior to its own proposed acquisition of Tragically Hip-backed Newstrike Resources Ltd. (TSXV:HIP).

“The combination of CanniMed and Newstrike creates a major player across the Canadian recreational and global medical markets and will be valued as such,” CanniMed said in the letter to shareholders.

“We see a clear path to $37 per CanniMed share – or more.”

Aurora formally launched its hostile takeover bid for CanniMed in late November on the condition that CanniMed cancel its own planned acquisition and said its offer will remain on the table until March 9.

Cam Battley, executive vice-president of Aurora, said in an emailed statement that he took issue with what he called “misleading” information attributed to him in the shareholder letter that he said was taken out of context.

The acrimonious takeover battle between the two marijuana companies was in the regulatory spotlight last month at a joint hearing involving the Saskatchewan and Ontario securities commissions.

The Ontario Securities Commission ruled on Dec. 22 that any securities issued by CanniMed as a defence against a hostile takeover by Aurora will be cease-traded. Aurora, for its part, will be required to amend its takeover bid circular and related press releases to include certain information that could affect CanniMed's shareholders when they decide to accept or reject an offer.

Shares of CanniMed (TSX:CMED) and Aurora (TSX:ACB) were at $26.00 and $13.88, respectively, in early afternoon trading.


Source: The Canadian Press
TORONTO - Maricann Group Inc. of Burlington Ontario, announced that it has made an exclusivity agreement with Colorado-based Rare Dankness LLC to bring elite cannabis strains into Canada's recreational market.

Founded in 2010, Rare Dankness is globally recognized for its work in elite and rare cannabis genetics, having won over 80 awards worldwide.

Rare Dankness developed genetics replicates the "mother" strands, and compliment the genetics by breeding with superior males, and breed specifically for certain cannabinoid and terpene profiles.

Some of their famous products include "Ghost Train Haze," "Rug Burn OG," "The OX," and "Moonshine Haze."

Rare Dankness Founder Scott Reach said that "working with Maricann Group gives us the capability to produce my genetics, provide premium grade, consistent, connoisseur quality cannabis flowers and extracts in a world class facility to bring RD to Canadians."

Rare Dankness will headline Maricann Group Inc.'s offering to the recreational market.


Summary of the Exclusivity Agreement

The Exclusivity Agreement provides Maricann with exclusive distribution and retail rights for the Canadian markets for specified Rare Dankness Genetics and Products for a five year term, subject to Maricann meeting minimum wholesale targets each year or paying an exclusivity fee and a right of first refusal to act as RD's exclusive distributor for the products in Europe.

In consideration for the exclusivity, Maricann has agreed to provide RD with the following consideration:
  • A signing fee of USD $500,000;
  • Grant of C$250,000 in warrants on the date of signing and on the first and second anniversary date of the Exclusivity Agreement exercisable at the market price at close of markets on the preceding day 
  • A profit sharing arrangement on the sale of the products by Maricann.
VANCOUVER, B.C. - Valens GroWorks has been granted Health Canada approval for the manufacture and packaging of cannabis oil products for sale to Licensed Producers, Licensed Dealers and approved Clinical Trials.

Dr. Rob O'Brien, President and Chief Science Officer at Valens AgriTech said that being the first licensed dealer to receive formal approval to become a processor and manufacturer for LP's is a tremendous opportunity.

“Our proprietary process to generate 100% cannabis oil products without the use of solvents, and our distribution, marketing and sales agreement with Canopy Growth enables us to build immediate brand recognition,” he said.

The Company is also a final stage applicant for a Health Canada License to Produce under the medical patient-oriented Access to Cannabis for Medical Purposes Regulations which will allow them to better satisfy consumer demand.

Valens GroWorks is Canadian publicly traded biotechnology company with two wholly-owned subsidiaries, located at the Company's expanding 17,000 sq.ft. facility on two acres in Kelowna, B.C.

Subsidiary Valens Agritech is commencing cannabis production and sales under a Health Canada Dealer's License, and is also a late-stage license applicant to cultivate medical marijuana under the ACMPR for individual patients.

CALGARY – Canadian cannabis company, Maple Leaf Green World Inc. announced they have begun construction on their new cultivation facility in Telkwa B.C., to be completed in January 2018.

Maple Leaf currently operates three cannabis projects located in B.C., Nevada, and California.

The company’s long-term goal is to produce cannabis oil and to export its products to approved countries.

Photos and information on the company and its new site can be found at www.mlgreenworld.com



OTTAWA - Health Canada has nearly doubled the number of licensed cannabis producers in the country over the past six months and new numbers show hundreds more applicants are in the final stages of approval as the government rushes toward national marijuana legalization by next July.

The dramatic surge in approved and aspiring producers comes in the wake of the agency's concerted efforts to loosen its bureaucratic approval process and head off what many experts fear will be a looming supply crunch for the burgeoning legal cannabis market.

In late May, Health Canada announced it would “streamline” the approval process, which many would-be producers described as onerous and contended took years to complete. The agency stepped up the resources to process applications and said it would start conducting some phases of the approval process at the same time and also made it easier for existing licence holders to expand.

When the announcement was made, Health Canada had granted just 44 production licenses since it started doling out approvals four years prior. Since then, however, the number has almost doubled to 80.

Provincial governments, police forces and marijuana companies have also been scrambling to prepare for legalized recreational sales, which the Prime Minister's Office confirmed Wednesday are expected by July - but not necessarily the Canada Day deadline that many had assumed.

A wave of pending applications has the potential to nearly triple the number of producers operating in a legal recreational market.

Health Canada spokeswoman Tammy Jarbeau said that as of Dec. 1, 208 applicants were in the final stages of the approval process.

“These applicants have completed the security clearance process and their application is being reviewed to determine whether it meets all the requirements of the regulations,” she said in a statement.

“A licence is only issued once security clearances have been granted, the application meets the regulatory requirements and a facility has been built.”

Industry watchers who had been expecting a spike in the number of licenses were nonetheless surprised by the latest figures, saying the number of pending approvals exceeded their expectations.

But Vahan Ajamian, a research analyst with Beacon Securities Ltd., cautioned against interpreting the high number of applications as a sign that Canada will avoid a supply crunch.

He predicted that the influx of new producers would have only a limited impact when cannabis becomes legal next summer.

Even if a cultivation license is issued in January, producers will likely need more time to line up financing, build up capacity, grow crops and make other arrangements to supply the market, said Ajamian.

“It might lessen the shortages in the first couple of months. But I still predict we will see shortages, sellouts - especially in provinces and areas that haven't locked down their supply.”

Many of the provinces have indeed sounded alarm bells on the issue, urging Ottawa to ensure the supply of legal cannabis is equal to the anticipated demand for the product.

Nova Scotia first voiced concerns about supply earlier this month after unveiling its framework for the sale of legal marijuana.

The government said it would prefer to see provincial supplies come from local production facilities, although so far only two such operations have secured Health Canada approval. Their licences, moreover, cover only permission to grow pot, not sell it.

Newfoundland and Labrador Premier Dwight Ball said although his province has inked its first production agreement, that alone won't make product available until 2019.

Analyst and government figures do little to dispel fears of a supply shortage.

A report by Canaccord Genuity estimates that demand for both medical and recreational marijuana will total nearly 570,000 kilograms by 2021. By contrast, numbers from a Health Canada showed that total inventories of dried and oil-based cannabis in producers' inventories totalled less than 40,000 kilograms as of June, the last month for which data was available.

One lawyer suggested Health Canada's previous approval process contributed to the current low supply levels.

Eileen McMahon, chair of intellectual property and food and drug regulatory practices at Torys law firm, said companies have faced an extremely high regulatory burden in order to get a license approved.

She estimated roughly 70 to 75 per cent of those who apply for a Health Canada marijuana license don't make the cut - a much higher rate than seen in other industries, such as medical devices and prescription drugs.

And while the recent increase in approvals means there will be more players ready to serve the market, the stringent regulatory and ongoing compliance requirements that producers will have to meet once licensed will likely whittle down the field again, McMahon said.

“This is not for the faint of heart,” she said.

“The question is who can hang in there. Who is going to survive?”


Michelle McQuigge and Armina Ligaya, The Canadian Press
A Calgary-based company is set to build a massive greenhouse dedicated to growth, cultivation and production of recreational cannabis in Lethbridge.
TORONTO – Ontario adolescents are drinking, smoking and using cannabis and other recreational drugs at the lowest rates since the late 1970s, suggests a biennial survey of Grade 7 to 12 students by the Centre for Addiction and Mental Health.
EDMONTON- The federal Crown has decided to drop its appeal of a ruling that dismissed charges against a prominent cannabis activist who was arrested in Calgary giving away millions of marijuana seeds.
LGC Capital Ltd. Received confirmation from Australia’s Office of Drug Control to increase interest in Australian Cannabis company, Little Green Pharma, – from 4.99 per cent to 11.91 per cent. 

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