Cannabis sales fell in February in most provinces, data released Thursday by Statistics Canada shows. On a national basis, daily average sales rose slightly from $1.77 million in January to $1.78 million in February. But that growth was driven almost entirely by Quebec, where daily average sales rose by almost $45,000 in February.
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Facing tough laws, and nervous investors, Emily Campbell reports that Quebec cannabis producers are forming an association to advocate for the growing industry.
Lewis Mitchell, a former police chief on the Mohawk territory of Akwesasne, chuckled when asked if he thought he would have trouble finding customers when his first batch of cannabis is ready for sale around summertime.
As the cannabis industry struggles to attract institutional investors and the Quebec government sticks to its hard line on legalization, eight Quebec pot producers are forming an association in the hopes of expanding their financing sources.
As Canada’s six-month anniversary of marijuana legalization day approaches, it’s clear that it’s been a bit of a rocky road. Supply shortages have left customers and retailers frustrated across the country. Some provinces have already laid off workers or cut hours at government-run cannabis retailers, while others are still having trouble getting their retail networks off the ground.
Industry professionals filled up Place Bonaventure in downtown Montreal and some of them offered up solutions on how to ameliorate the cannabis situation in Quebec. Giordano Cescutti explains.
MONTREAL — Exhibitors at a Montreal cannabis expo expressed hope and caution this weekend over the legalization process currently unfolding across Canada, as their products provided a glimpse of what could be to come in a future, less regulated market.
The two-day trade show, which brought together more than 120 exhibitors, was the first gathering of its kind in Quebec since recreational pot was legalized earlier this month.
The Société québécoise du cannabis (SQDC) announced on Friday it will slash its operating hours by nearly half due to supply shortages.
“We are sincerely sorry for the inconvenience,” said the SQDC in a statement released on its social media platforms.
The supply of legal pot in Canada will only meet 30 percent to 60 percent of demand after legalization, keeping the black market very much alive and stunting the government’s tax take, according to a new study.
Aurora Cannabis (TSX: ACB) (OTC: ACBFF) has publicly disclosed that it will be listing on a major exchange in the United States in October, but, until today, the exchange was unknown. The company revealed in a public filing, the Form 40-F, that it has registered to list on the New York Stock Exchange: