Grow Life 420

Shares in a number of cannabis companies have been on fire this week.

Shares in Canadian-based cannabis companies are surging this week partly because of a flurry of short sellers covering their bets against the stocks, right as U.S. lawmakers seem to be getting more serious about potentially legalizing the drug.

Three of the four biggest companies in the space — Tilray, Aurora Cannabis and Aphria — have seen their stock prices rise by between 30 and 40 per cent in the past two days. A fourth major player, Canopy Growth, is only up by about 10 per cent.

According to Chris Damas, president of cannabis consulting firm BCMI Research, the main catalyst for the run-up is a so-called short squeeze, whereby Wall Street investors that had been betting against the sector have had to buy up the shares en masse to cover their bets as momentum shifts back in favour of the shares.

– Read the entire article at CBC News.

12 municipalities, including Surrey, Burnaby, Richmond and Delta, still don’t have a storefront for legal weed.

Across a large swath of B.C.’s South Coast, there lies an area cannabis industry insiders have dubbed an access desert. It’s a group of municipalities that — two years after legalization — still doesn’t have legal cannabis retailers within its boundaries.

Twelve municipalities — Whistler, West Vancouver, Richmond, Delta, Burnaby, Coquitlam, Pitt Meadows, Surrey, the Township of Langley, the City of Langley, Abbotsford and Hope — still don’t offer local access to legal cannabis, according to the provincial government.

– Read the entire article at CBC News.

Consultation documents show health officials have serious concerns.

There’s a sharp divide between health officials and business groups on whether or not the Ford government should allow cannabis lounges and cafes, and broaden the number of places pot can be sold.

CBC Toronto obtained the results of the government’s consultation — conducted earlier this year before COVID-19 forced the province to declare a state of emergency — through a freedom of information request. You can read all 850 pages of feedback at the bottom of this story.

The province is considering two major changes to the current cannabis landscape:

– Read the entire article at CBC News.

Dynaleo acquired production licence.

A new cannabis-infused gummy producer near Edmonton is set to be the largest in the country.

Dynaleo received its production licence from Health Canada last week. The company has a 26,000-square-foot warehouse in an industrial park just south of the city.

“The next phase of that would be getting our sales licence which we’re currently very excited about,” said Kristy Skwaruk, Dynaleo’s director of people and culture.

– Read the entire article at CBC News.