Aurora Cannabis Inc. says it is indefinitely pausing operations at one of its Alberta facilities and laying off a few dozen staff.
The Edmonton-based cannabis company says the pause will occur at its Aurora Sun property in Medicine Hat, where it will layoff about 30 workers.
Aurora spokeswoman Michelle Lefler says that the moves are expected to be complete around Dec. 18.
In a huge step forward for cannabis legalization and global drug reform, the UN Commission on Narcotic Drugs (CND) voted on Wednesday to pull cannabis from Schedule IV of the 1961 Single Convention on Narcotic Drugs. Under the UN’s system, Schedule IV substances are considered the most dangerous and addictive drugs.Cannabis will no longer be classified as a drug as dangerous as heroin.
President-elect Joe Biden will be good — but not great — for the cannabis industry, analysts, executives, and other experts say.
While Biden has stopped short of endorsing federal legalization, both he and Vice President-elect Kamala Harris, have campaigned on decriminalizing marijuana.
While most of Wall Street focuses on large and mega-cap stocks, as they provide a degree of safety and liquidity, many investors are limited in the number of shares they can buy. Many of the biggest public companies, especially the technology giants, trade in the hundreds, all the way up to over $1,000 per share or more. At those steep prices, it’s pretty hard to get any decent share count leverage.
Plenty of uncertainty remains with the 2020 election, but one thing is clear: Recreational cannabis had a big night at the ballot box.
Voters in Arizona, Montana, New Jersey and South Dakota cleared cannabis for adult use, bringing the total number of states that have approved it for that purpose to 15.
The U.S. election opened a small but noteworthy gap between Canadian and U.S. cannabis companies last week, underscoring all of the unanswered questions that investors face as access to pot spreads across the world’s largest economy.
New Jersey, Arizona, South Dakota and Montana voted to legalize recreational use last week, while Mississippi and South Dakota will allow medical marijuana. This puts about 21 million more Americans in the reach of cannabis products -- more than half Canada’s total population of 38 million.
It's the moment for which advocates of legal marijuana here have been waiting: Mexican lawmakers, working under a court order, have until mid-December to finalize rules that will make the country the world's largest market for legal pot.
Advocates have long argued that legalization would put a dent in the black market; allow for safe, regulated consumption; create jobs; and cut down on crime.
After years of near-misses, Gov. Andrew Cuomo expects New York legislators to finally legalize marijuana in 2021, getting over past opposition and division for one simple reason - the state needs the money.
In 2018, the cannabis industry represented more than $10 billion and could reach $30 billion in 2026 according to a projection by New Frontier Data, a firm of analysis and research on the cannabis industry, or even $70 billion according to Grand View Research. It would then be equivalent to the tobacco business across the Atlantic. Several American states might now legalize cannabis.
Back in August, I believed that 2020 could still be a big year for the cannabis legalization movement. Yesterday, voters finished casting votes in five states to determine whether or not to legalize cannabis use. Here are the results for Arizona, Mississippi, Montana, New Jersey, and South Dakota.
