Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Order #886352 could be for 20kg .
The drug's green light also means that the Drug Enforcement Agency now has 90 days to reschedule CBD, which it listed in January of last year as a "marihuana extract" separate from "marihuana" or THC.
That means instead of being listed alongside marijuana as a Schedule 1 drug with "no currently accepted medical use," CBD will soon be categorized as either a Schedule 2 or 3 drug, much like the popular ADHD medication Adderall.
"We don't have a choice on that," DEA public affairs officer Barbara Carreno told Business Insider. "It absolutely has to become Schedule 2 or 3."
Once that happens, it'll unleash what Carreno called a "sea change" for CBD manufacturers and the industry as a whole, which up until this point has existed in a legal grey area.
Apart from CBD, researchers are also actively studying THC and other marijuana compounds for a range of potential medical uses, from relieving pain to soothing severe nausea. Although Epidiolex is the first marijuana plant-based drug to land FDA approval, the agency has already given the green light to drugs whose active ingredient is a lab-made version of THC, for example.
In the meantime, experts look forward to seeing Epidiolex made available to patients in need.
"I'm not currently aware of any other major new drugs that are close to being where this drug is," Shinnar said.
Canopy Growth Corp Stock Isn’t as Overpriced as You Might Think
Josh Enomoto
InvestorPlace June 25, 2018
https://finance.yahoo.com/news/canopy-growth-corp-stock-isn-162600998.html
Naturally, the anticipation of cannabis legalization boosted Canadian companies like Canopy Growth Corp (NYSE:CGC), with CGC stock gaining 22% in the past 30 days.
Last week, many “botanical” advocates argued that Canada took a decisive step into the 21st century. Through legalizing recreational marijuana, our northern friends became the first G7 nation to end legal stigmatization of the plant.
However, even the excitement of Canada greenlighting “green initiatives” wasn’t enough to spare blushes for the sector. Those speculating on CGC stock learned that lesson the hard way at the end of last week.
After enjoying a robust start to the week beginning June 18, the marijuana grower shed nearly 9% of market value.
Not only that, the volume level was quite intensive at nearly 7.6 million shares. Obviously, a great many stakeholders secured profits while they could.
I don’t think anyone can blame them. While CGC stock enjoyed a brilliant performance in 2017, this year has produced a mixed bag. Optimists point to the company’s recent rally as the true indicator of its potential.
Since the May 1 opener, CGC skyrocketed to nearly 42%. But on a year-to-date basis, shareholders nervously spent most of their time underwater.
Our own Ian Bezek notes far more fundamental reasons why CGC stock underwhelmed, and why this might continue. Bezek argued that Canopy’s 9.9% owner Constellation Brands (NYSE:STZ) is practically the only real winner with CGC.
Constellation entered at a great price, and tripled their investment in under a year.
That said, buying Canopy is buying an overly bullish story that might not pan out. Bezek brings up the astronomical 100-times price-to-sales ratio. As he states, “A 100x price/sales ratio is nearly unheard of in the history of publicly traded stocks.”
Is CGC Stock Too Risky?
I certainly respect Bezek’s arguments as he largely points out facts. Yes, Constellation Brands did benefit handsomely from its Canopy deal, but you are not Constellation Brands.
Conflating successes could lead to disaster. And he’s also right that the P/S ratio is alarming.
Astute investors often use this metric to determine growth potential and value for young companies that might not have earnings. Bezek states that “The company sold only $55 million in product last year, but the market values that at more than $5.7 billion.”
So we should pass up CGC stock, right? If you’re a conservative investors, then yes, you definitely should avoid Canopy. However, if you don’t mind taking some risks, CGC isn’t nearly as speculative as it appears on paper.
First, I argue that the P/S ratio is somewhat irrelevant with marijuana companies. Recreational marijuana just became legal in Canada. We don’t have a precedent for this absolute paradigm-shift.
Yesterday, you could have been thrown in jail for smoking a joint. Today, you can light up freely.
In other words, excessive optimism is baked into CGC stock because the sky’s the limit.
Second, Canopy could be undervalued. No, that’s not a typo, and no, you don’t have to call an ambulance: my mental capacity is just fine.
In my last write-up for the marijuana industry, I cited a Dalhousie University-sponsored report. In their analysis, the research team discovered that nearly 46% of Canadians would buy “marijuana-infused food products” if legally available.
These aren’t just dedicated potheads, unless you believe that nearly half of Canada’s population is baked. Rather, this is a brand new market that appeared like manna from heaven.
I’m not sure if CGC stock is truly undervalued or not, but this possibility is a very real one.
Read Between the Lines
I agree wholeheartedly with Bezek that Constellation Brands is the runaway winner with Canopy Growth. I also don’t necessarily disagree that STZ stock is the better way to play Canopy. But we should also consider why Constellation invested in CGC.
As an alcoholic-beverage maker, Constellation is a known commodity. Don’t get me wrong: I think it’s a great company. I also featured STZ as one of the top “vice stocks” you should consider adding to your portfolio.
But the low-hanging fruit in the alcohol industry has been plucked long ago.
With recreational marijuana, though, everything is low-hanging fruit. That’s why major growers like Aurora Cannabis Inc (OTCMKTS:ACBFF) and Aphria Inc (OTCMKTS:APHQF) aggressively compete in this sector. This trend will only heighten in the years ahead.
And in this crazy green world, Canopy levers a huge advantage: its partnership with Constellation. While marijuana may be the people’s plant, let’s not forget that big business will ultimately have its say. This will leave out the little guys, and consolidate growth among a few.
That’s why Constellation has a heavy stake in Canopy. As great as they are, the alcohol industry is as old as time. Marijuana is just stretching its legs. With CGC stock, Constellation plants a big footstep in tomorrow’s groundbreaking sector.
As of this writing, Josh Enomoto did not hold a position in any of the aforementioned securities.
clap! clap! Clap! Clap! Clap!
The FDA ( US Agency ) is rescheduling Epidiolex specifically, although a derivative of CBD,
“Product availability is pending rescheduling which is expected to occur within 90 days.”
Ummmm?
Catalyst: A Cannabis Based Solution has been approved by the FDA for pharmaceutical distribution in the USA. Does this affect the Global Cannabis Industry or Canopy Growth? How does this change the rhetoric/ conversation around the scheduling of Cannabis in America as to having “ No medicinal benefits ?” .
GW Pharmaceuticals plc and its U.S. Subsidiary Greenwich Biosciences Announce FDA Approval of EPIDIOLEX® (cannabidiol) oral solution – the First Plant-derived Cannabinoid Prescription Medicine
GlobeNewswireJune 25, 2018
https://finance.yahoo.com/news/gw-pharmaceuticals-plc-u-subsidiary-165729968.html?.tsrc=applewf
First Marijuana-Based Medicine Is Approved for Sale in U.S.
June 25, 2018
https://finance.yahoo.com/m/e9c9622e-ec92-314c-bcf3-8c387a44926e/first-marijuana-based.html?.tsrc=applewf
GW Pharma wins U.S. approval for marijuana-derived epilepsy drug
Reuters
ReutersJune 25, 2018
June 25 (Reuters) - An epilepsy treatment from GW Pharmaceuticals Plc on Monday secured an approval from the U.S. Food and Drug Administration, becoming the first cannabis-based drug to be approved in the country.
https://finance.yahoo.com/news/gw-pharma-wins-u-approval-164208925.html?.tsrc=applewf
GW Pharma's Epidiolex Becomes First Cannabis-Based FDA-Approved Drug
Elizabeth Balboa
Elizabeth Balboa
BenzingaJune 25, 2018
https://finance.yahoo.com/news/gw-pharmas-epidiolex-becomes-first-170614533.html?.tsrc=applewf
Wife: Remember that million dollar day in February? On Medical market demand alone; 60k patients. Hypothetically, could Canopy have ~350 million days after October 17th?
Hi John1311. Curious, to your knowledge, what does this mean for holders of 11L1.F? Clearstream no longer being a secure holder on the Frankfurt exchange?
https://www.newcannabisventures.com/german-securities-clearance-firm-pulls-plug-on-north-american-cannabis-stocks/
4.3.1 Clearstream
In line with the possibilities laid down by the Safe Custody Act for custody of securities, the securities acquired by an investor are as a rule kept and administered, via a bank (intermediate custodian), at Clearstream Banking AG, Frankfurt12 (third-party custody). For dematerialised securities, Clearstream is entered as fiduciary in the collective debt register administered by the Federal (or La¨nder) Debt Administration, or else registration is effected in the individual debt register also administered by the Federal (or La¨nder) Debt Administration.
4.3.1.1 Types of assets and products cleared
All business transacted on stock exchanges, whether on the floor or via the electronic trading system of Deutsche Bo¨rse AG, Xetra, is automatically forwarded for processing (partly via interposition of Eurex Clearing AG as the CCP) to Clearstream via appropriate IT facilities. According to the stock exchange rules and regulations, all transactions have to be settled on the second stock exchange day following the day of trading (T+2).
OTC transactions can be settled FOP. Transactions against payment are only effected following a prior matching based on certain matching criteria. These transactions are entered by the parties concerned, and the system performs the settlement of the transactions. The settlement day can vary between T+0 and T+40. If the settlement day is T+0, same day processing and real-time settlement are possible (see below).
4.3.1.2 Institutional framework
Clearstream is Germany’s CSD. It received permission from BaFin to operate as bank in 1949. This banking licence was a restricted one, in line with Clearstream’s past functions as a specialised institution, which has been extended recently. Until end-1999, Clearstream – under its former name, Deutsche Bo¨rse Clearing AG, Frankfurt – was a wholly owned subsidiary of Deutsche Bo¨rse AG. On 1 January 2000, in the course of a capital increase, Deutsche Bo¨rse AG transferred its shares in Deutsche Bo¨rse Clearing AG to Clearstream International SA, Luxembourg. In return, Deutsche Bo¨rse AG received half of the shares in this newly established holding company. With regard to the ownership structure of Clearstream Banking International SA, Deutsche Bo¨rse successfully took over the remaining 50% stake held by Cedel International SA. Thus, Deutsche Bo¨rse AG has control of both a national (Clearstream Banking AG, Frankfurt) and an international CSD (Clearstream Banking S.A. Luxembourg).
4.3.1.3 Participation
Customers of Clearstream can be domestic or foreign credit and financial service institutions or specialised public institutions. In addition, foreign CSDs and clearing organisations or supranational financial organisations can open securities and cash accounts with Clearstream. A requirement for admission as a customer of Clearstream is, among other things, that the respective institution be subject both to the provisions governing statutory auditing of securities deposits under the Banking Act and the laws of the country of origin in question, or voluntarily allow its safe custody accounts to be audited. Almost all banks engaged in securities trading or in custody operations maintain accounts with Clearstream. Institutions without a direct link to Clearstream can make use of the services offered by Clearstream indirectly via Clearstream customers.
https://www.bis.org/cpmi/publ/d105_de.pdf
Media Advisory - Cannabis Entrepreneurs Compete for $1 Million at Canopy Rivers Pitch Day
https://finance.yahoo.com/news/media-advisory-cannabis-entrepreneurs-compete-211700558.html?.tsrc=applewf
CNW Group
CNW GroupJune 22, 2018
VANCOUVER , June 22, 2018 /CNW/ -
This Monday at the International Cannabis Business Conference, five cannabis companies from across Canada will be vying for $1 million in funding from Canopy Rivers, an investment and operating platform focused on the cannabis market in collaboration with Canopy Growth.
Titled "Pitch Day: Micro Cannabis, Macro Impact", media are invited to attend and watch cannabis entrepreneurs deliver their pitch to a lineup of judges including:
Olivier Dufourmantelle, COO of Canopy Rivers
Hilary Black , one of Canada's leading advocates for patient access to medical cannabis
Kirk Tousaw , a lawyer and advocate specializing in defending those charged with cannabis offences
Mat Beren, owner of the House of the Great Gardener seed company which helps patients get access to medicine that works best for them
Canopy Rivers has also partnered with Civilized, a premium media and lifestyle brand that embraces and highlights modern cannabis culture, to capture content throughout the day. The winner, after receiving funding from Canopy Rivers, will also be awarded a promotional package from Civilized valued at CAD $65,000 including consumer research, content on Civilized platforms (including editorial video, sponsored articles and social media posts) and one million display impressions on civilized.life.
Date: June 25, 2018
Time: 1:00-2:00pm
Location: Sheraton Wall Centre Vancouver - 1088 Burrard St.
RSVP: If you're planning on attending, please RSVP with Aly-Khan Virani
Tweed joins Pride Toronto to celebrate progress, fight stigma, and build a more inclusive world for all
https://finance.yahoo.com/news/tweed-joins-pride-toronto-celebrate-110000358.html?.tsrc=applewf
CNW GroupJune 22, 2018
SMITHS FALLS, ON and TORONTO , June 22, 2018 /CNW/ - Tweed, the industry's best-known cannabis brand, is pleased to join Pride celebrations taking place this week in Toronto and culminating in the famous Toronto Pride Parade on Sunday, June 24 .
From the very beginning, Tweed has been focused on fighting stigma and changing perceptions around a plant that has the power to help and heal, while also sowing the seeds of progress and community development across Canada .
It's this same spirit that fuels Tweed's commitment to progress and change, not just around cannabis, but around all of the issues that define us as a country, company, and ultimately as people. At Tweed, we know that diversity and inclusion are a source of strength. They help us innovate, expand our horizons and perspectives, and most importantly are essential to everyone living their authentic and proud life.
Because of this, we're honoured to contribute to Toronto Pride and other amazing Pride celebrations across the country that embody these values and drive progress forward. It's equally important to note that our participation is not a one-way street and has also prompted self-reflection and development. We're a company that's growing fast and as we do, we continue to find opportunities to promote an inclusive and diverse workplace for all with the knowledge that there's always room for improvement.
"We're proud to march alongside Pride to celebrate the progress we've made on issues of social justice, inclusion, and diversity while also smashing outdated perceptions about cannabis along the way," said Bruce Linton , Founder and CEO, Tweed. "Pride events across Canada and the world are fundamental to acknowledging the sacrifice of activists and pioneers while also reminding us that better is always possible."
To our friends at Pride Hamilton, Niagara, and Winnipeg it was so great to celebrate with you. To Pride Halifax, PEI Pride, and Capital Pride in Ottawa , we can't wait to see and celebrate with you soon.
Here's to Future progressive, inclusive, and loving Growth. (And an amazing Toronto Pride!)
Canopy Growth Corporation Announces Exercise and Closing of Over-Allotment Option
PR Newswire
PR NewswireJune 22, 2018
SMITHS FALLS, ON, June 22, 2018 /PRNewswire/ - Canopy Growth Corporation (WEED.TO) (CGC) ("Canopy Growth" or the "Company") announced today the issuance of C$100 million aggregate principal amount of its 4.25% convertible senior notes due 2023 (the "Over-Allotment Notes") pursuant to the exercise in full of the over-allotment option granted to the initial purchasers in connection with the previously announced offering of C$500 million aggregate principal amount of its 4.25% convertible senior notes due 2023 (the "Initial Notes"), which closed on June 20, 2018. The Over-Allotment Notes have the same terms as the Initial Notes, including an initial conversion rate of 20.7577 common shares ("common shares") per C$1,000 principal amount of Over-Allotment Notes, equivalent to an initial conversion price of approximately C$48.18 per common share.
The Company intends to use the net proceeds from the sale of the Initial Notes and the Over-Allotment Notes for supporting expansion initiatives and general corporate purposes, including working capital requirements.
This news release is neither an offer to sell nor a solicitation of an offer to buy any of these securities (including any common shares of Canopy Growth into which the Initial Notes or Over-Allotment Notes are convertible) and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.
https://finance.yahoo.com/news/canopy-growth-corporation-announces-exercise-131300443.html?.tsrc=applewf
To come up with that funny number, I used the reported value on that day, divided by the share price Dec 31, 2018, , multiplied by today's closing price. Guestimating
This is a bit of an about face in the revelations of Canopy Health.
The holdings of Auscann have increased from 24m (Dec 31, 2008) to ~ 40m at todays close if my math is correct.
CANOPY GROWTH’S POSITIONING FOR THE CANADIAN REGULATED RECREATIONAL
MARKET
CANOPY GROWTH CORPORATION
MANAGEMENT’S DISCUSSION AND ANALYSIS OF THE
FINANCIAL CONDITION AND RESULTS OF OPERATIONS
FOR THE THREE AND NINE MONTHS ENDED DECEMBER 31, 2017
FEBRUARY 14, 2018
https://www.canopygrowth.com/wp-content/uploads/2018/02/Canopy-Growth-Corporation_Q3_2018_MDA_FINAL.pdf
{a few interesting tidbits about the strength or lack thereof in Pharmacy Channels and expectancy of Online Distribution taking a lead into the opening of the market}
Early in the development of the Company’s plan to enter the future Canadian Regulated Cannabis
Market, management realized that securing channels to market was equally, if not more, important
than licensed cultivation capacity. With the provincial liquor agencies being given responsibility for
establishing distribution and retail frameworks focused the majority of its management outreach on
building relationships with these agencies. To aid in this effort, the Company hired a government
relations team with over two decades of direct liquor agency experience.
It is worthwhile highlighting that the Company has engaged in outreach to other retail networks
including national pharmacy chains. As it remains unclear as to when other retail networks,
including pharmacies, will be permitted to sell cannabis, the Company determined that efforts to
secure supply related agreements with pharmacy chains would provide limited, if any, real value to
the Company in the short to medium-term.
When selecting Licensed Producers to supply cannabis for recreational retail sales, provincial
governments and/or their liquor control agencies, many factors, including cannabis inventory and
production capacity, product quality, product variety, product branding, price, sales support and
economic commitments to the provinces are expected to influence product demand and supplier
selection.
In preparation for the launch of a regulated recreational cannabis market expected in the summer
of 2018 (July 2018), the provincial liquor agencies are actively seeking multi-year supply
arrangements with a limited number of licensed producers that they believe can provide them
supply certainty. Management believes that most provinces are likely to enter into supply
arrangements with 4 or 5 primary suppliers.
Cannabis producers positioning to become primary provincial suppliers will need to demonstrate
that they have sufficient inventory levels and in production capacity at March 31, 2018. The supply
related agreements established by the provincial liquor agencies in Newfoundland & Labrador, New
Brunswick and Prince Edward Island contemplate two-year supply contracts. It is anticipated that
many, if not all, of the remaining provincial and territorial liquor agencies will enter similar supply
agreements with primary suppliers.
For Licensed Producers that meet the inventory and capacity requirements sought by the provinces
and who successfully secure a primary supplier relationship, management believes the two-year
supply contracts can be expected to provide certainty of business operation and secure a channel
to market for additional capacity that the selected producers may bring into production as well as
partner capacity offtake.
To position the company to confidently secure primary supplier contracts with all of the provincial
liquor agency, the Company has invested significant resources to establish the largest cannabis
inventory and licensed and in-production capacity by the end of the first calendar quarter 2018. At
December 31, 2017, management believes the company had the largest inventory of harvested
product and biological assets with a value exceeding $108,318. As of February 13, 2018,
management believes the Company has the largest licensed and in production platform in Canada,
at over 600,000 sq. ft. In addition, the Company expects to have up to an additional 5,000,000 sq.
ft. enter production over the next twelve months. With the combination of the sector’s largest
inventory and the Company’s vast production platform, management believes the Company is well
positioned to secure large supply channels into the regulated recreational market and ultimately
supply a significant portion of that market.
The Company’s CraftGrow program discussed elsewhere, which assists smaller local/regional
Licensed Producers in getting their product to market, provides additional value-added
consideration should provincial liquor control agencies seek the flexibility to showcase products of
local/regional Licensed Producers within a trusted supply agreement with a larger producer.
23
With renowned cannabis brands (Tweed, Leafs By Snoop & DNA Genetics), strong customer and
online communication, substantial product variety, management believes consumer demand for
the Company’s products will be strong.
With licensed cultivation and production operations in Ontario and Saskatchewan and Quebec as
well as announced development plans spanning British Columbia, Alberta, New Brunswick and
Newfoundland & Labrador, Canopy Growth has made meaningful economic development
commitments in various provinces.
Management believes large scale Licensed Producers are well positioned to support the provinces
in their efforts to establish, oversee and implement physical and online cannabis retail. The
Company, with comprehensive standard operating procedures for secure cultivation, production,
storage and transportation of Cannabis and significant, highly secure vault storage capacity in place
or under development in multiple locations across the country, is well positioned to assist provincial
agencies with the provisioning of secure cannabis storage and transportation. With the largest
customer base in the legal Canadian cannabis market and broadest product portfolio in the sector,
the Company can offer provincial agencies/crown corporations/retailers with significant consumer
product demand intelligence to assist with product selection.
Management believes Licensed Producers will be required to have operational information
technology systems, including Enterprise Resource Planning systems, to interface with the
sophisticated inventory management, ordering and billing systems in operation at the various liquor
boards. Canopy Growth has invested significantly in the upgrading of our IT infrastructure,
including the implementation of an Enterprise Resource Planning application. To help guide the
implementation of information technology systems required to interface with the various provincial
liquor agencies, the Company’s Chief Information Officer (“CIO”) has established relationships with
the CIOs of many of these agencies.
The large product volumes that will be required to be packaged and shipped to the provincial liquor
agencies demands the automation of product packaging and shipping functions. As with
information technology systems, Canopy Growth has invested significant resources in improving
the efficiency of these functions through increasing utilization of automated systems.
The provincial liquor control agencies are being tasked with implementing and managing the
distribution and, in many cases, the retail of cannabis products. As management functions within
the liquor agencies and new staff being hired to support the rollout of cannabis distribution and
retail likely have limited previous experience/knowledge of the product, Management believes
significant in market sales support and education will be required. The Company has established
a sales management and in market support team and programs to educate and prepare retail staff.
To date, the Company has entered into agreements with the liquor agencies in New Brunswick and
Prince Edward Island for the development and delivery of education programs.
As highlighted earlier, Canopy Growth believes that, in certain provinces, it will take two years and
possibly longer to rollout the full network of regulated cannabis retail stores that is required to satisfy
consumer demand. As such, Canopy Growth believes that most of the sales in the first two years
of the regulated recreational market will go through provincial online sales. With less than 6 months
to establish a robust online retail system and cannabis marketplace, management expects that
certain, if not many, provinces could benefit from leveraging the existing online ecommerce,
customer demand data and transactional information technology systems that have been deployed
by the Company. The Company’s Tweed Main Street online store (See Overview of Canopy
Growth Corporation, Tweed Main Street), a single online marketplace offering cannabis for sale
from multiple producers across numerous brands – delivering a shopping experience that
consumers expect, is uniquely suited to deliver the online retail experience that provincial
agencies/crown corporations/retailers will be expected to deliver.
https://www.canopygrowth.com/wp-content/uploads/2018/02/Canopy-Growth-Corporation_Q3_2018_MDA_FINAL.pdf
Just for Jokes; Spectrum gell caps Give a whole new perspective to the Red Pill, Blue Pill reference.
Question: Would a Dividend help establish Canopy as a Blue Chip Company. Last Quarters Margins before expansion into Bc tweed, Vert Tweed Edmonton etc. were 71%. After expansion costs, Margins were 64%. Weve yet to see what a full cycle of production from all facilities at 100% produces in asset gains. 5 Million Plus Sqft at last report. At 64% Margins, I think that will be a good revenue stream going forward. The Dividend Question. ~200m shares outstanding, 0.01 Dividend to start costs ~2m. Not much, but a good place to start and increase for the next 100 years maybe.
800m cash on hand,
370m assets - Dec,17
1.17 Billion ( not including any biology asset gains from B.C Tweed, Vert, Lesotho, etc, etc)
75m liabilities-Dec 17
500m notes.
Assets roughly 2x liabilities?
A great question for the upcoming CC will be “when Can provincial orders begin to be filled”. The idea that all 2018 inventory will be sold ( perhaps minus a lot of extract being reserved for 2019 ) is good reference.
With that said, where does that leave Canopy. October will be different than we’ve ever seen. Halloween will be different, Friday nights and Saturday nights will be different. Game nights will be different. New Years will be different. And in there are all types of Catalysts. I am still listening for what GWP epidiolex FDA ruling next week will do to the US Cannabis/ CBD conversation.
Beverages / Edibles No Later Than June 20, 2019.
Any type of DIN for specific indications: 80b sleep aid market Globally.
Germany is giving me a great reason to learn to read and write the German language.
If any one would like to prove this investment wrong, please do. I prefer the scientific Method. Try by all means to prove the theory wrong. If it can not be proven wrong, then it must be true. So before there is a % pullback and as usual, and trolls start showing up, let’s put this 95 year evolution in the market to the test. Let’s challenge the sentiments and valuations. What do you think? Please comment:
118 Days to Go ?
Its has Begun on BNN,
FYI: BNN is carrying the closing remarks of this parliament session by Prime Minister Justin Trudeau in *(edited) Ottawa Live. Hasn't started yet, but definitely some traction being made here.
Bloomberg: WATCH LIVE: PRIME MINISTER TRUDEAU SPEAKS IN OTTAWA
https://www.bnnbloomberg.ca/watch-live-prime-minister-trudeau-speaks-in-ottawa-1.926878
@ 1532 hrs, 333,500 shares were traded in a minute or less @ CAD 45.21
IMO The Big Financial Houses and Institutional funds are waiting on 2 catalysts: Legalization, and at least 1 quarter of recMJ financials before they begin to make significant moves into the sector. We shall see, I guess.
$45.35 - 2 minutes to market close
NEW 52W High!
Cannabis will be legal on October 17, Trudeau says
https://www.theglobeandmail.com/politics/article-justice-minister-warns-cannabis-is-not-legal-yet/
LAURA STONE PARLIAMENTARY REPORTER
DANIEL LEBLANC PARLIAMENTARY REPORTER
OTTAWA
PUBLISHED JUNE 20, 2018
UPDATED 6 MINUTES AGO
Prime Minister Justin Trudeau has picked October 17 as the day on which all adult Canadians will have legal access to cannabis for recreational use.
Mr. Trudeau said that Ontario, Quebec and British Columbia have asked for more time, with the federal government now giving them 17 weeks to get ready. There will be an election in Quebec on Oct. 1, which helps to explain why the provincial government sought more time.
The government had initially aimed to legalize cannabis by July 1, but Bill C-45 was not adopted in time by Parliament. Originally, the government had planned for only a two-to-three-month gap between the bill passing and legalization.
Mr. Trudeau made the announcement in the House of Commons on Wednesday, the day after the bill passed its final vote in Parliament.
Justice Minister Jody Wilson-Raybould cautioned Canadians that recreational marijuana use is “not legal yet” and existing laws remain in place until the date of legalization is announced by the government.
“Cannabis for non-medical use is not legal yet. The law still remains the law,” Ms. Wilson-Raybould told reporters.
Ms. Wilson-Raybould also said provinces can pass their own laws regarding home cultivation, which the federal legislation allows in small amounts. This comes in response to opposition from Quebec and Manitoba who want to ban homegrown plants in their respective provinces. But she suggested provinces could face legal challenges in doing so.
“It is not the intent of the federal government to challenge provincial laws. That is not our place. However, there may arise a challenge by an individual of another jurisdiction’s law,” she said.
When asked if the government is considering amnesty or pardons for people who have criminal records for marijuana crimes, Ms. Wilson-Raybould said the issue is under “consideration” by Public Safety Minister Ralph Goodale.
In a historic vote on Tuesday, Parliament changed Canadian law to lift the 95-year-old prohibition on cannabis and free millions of adults to openly smoke, ingest or grow the drug without fear of a criminal record.
The adoption in the Senate of Bill C-45, the Cannabis Act, means that a legal, multibillion-dollar industry is set to appear in Canada, which will join Uruguay as one of the few countries where cannabis is legal nationwide.
The next steps will include releasing the regulations for the cannabis trade, including approving edible products within a year, and working with Indigenous communities to smooth out the negative consequences of the transition to legal cannabis.
In addition, the government will start to look for a way to clear the criminal records of hundreds of thousands of Canadians who were convicted of simple possession under prohibition.
All producers of cannabis will have to be licensed by Health Canada, while provinces will oversee the distribution of the dried cannabis and oils to the retail market. Canadian adults (the minimum age varies by province) will be able to carry up to 30 grams, with stiff new penalties for providing the drug to minors.
Revenues from the legal market are expected to be used, at least initially, to cover costs related to policing, enforcement, setting up public distribution networks and creating public-awareness campaigns. Cannabis will be subject to an excise tax of $1 a gram, or 10 per cent on sales of more than $10, with Ottawa keeping 25 per cent and the rest going to provinces and municipalities.
Correction, as stated several times so far in the house, this will be the final sitting of the house before the summer Holiday. More than likely then, the final vote will be today, with Royal Ascent following soon (Shortly)after.
FYI - The House of Commons is now sitting. Most of the day is regular Government Business as Usual. Perhaps...I emphasize perhaps, the final vote to send Bill c-45 to Royal Ascent will be in this sitting. Friday, June 22, 2018 I believe is the final sitting day before the parliament summer break.
And Now This -
https://www.canopygrowth.com/wp-content/uploads/2018/06/20180619-C-45-NR-Final-EN.pdf
June 20, 2018
CANADA – There are no words to describe and acknowledge this historic moment in Canada.
We would like to commend the fearless advocates who spent years building momentum for change.
The patients and researchers who drove awareness of the power of the cannabis plant.
The elected officials who showed courage in advancing a dialogue for change, based on pragmatism but also a vision for something better.
The public service who navigated and ultimately built a complex regulatory landscape with thoughtfulness and professionalism.
To all Canadians who participated in turning an idea into reality, this is your moment to celebrate.
So, there were a few words after all.
From our family of companies and brands, here’s to the next chapter of growth.
WEED Volume @ 1200 hrs : 7.8 million
CGC Volume @ 1200 hrs : 6.2 million
Awaiting Royal Assent
C-66
C-74
C-211
C-309
S-210
C-45
http://www.parl.ca/LegisInfo/LAAG.aspx?Language=E
Politics Briefing: The cannabis bill has passed
https://www.theglobeandmail.com/politics/article-politics-briefing-the-cannabis-bill-has-passed/
CHRIS HANNAY AND JAMES KELLER
PUBLISHED 1 HOUR AGO
UPDATED JUNE 20, 2018
Good morning,
Cannabis legalization has passed its final vote in Parliament. The policy, which will create a legal multibillion-dollar industry, removes many of the legal penalties for recreational use of marijuana, with repercussions for business, and our health and the criminal justice systems.
The bill needs to receive royal assent – possibly as soon as today – before the cannabis is officially legalized. Then cabinet will decide the date when the drug can officially be sold legally. The federal government is giving provinces and industry eight to 12 weeks to get their systems in place. Here is our guide to what the different jurisdictions are planning.
Some tripping over Dicks happening here. 44.63 open. up 3.7%
Please please please, keep gains below 10% in 10 minutes...
Bid: 450300 @ CAD 44.75/ Ask 202800 @ CAD 44.75 @ 0910 hrs
4;2 ratio
Nearest Ask resistance 103100 @ CAD 45
For the investors, With royal ascent and when c-45 becomes the law of the land, Some wholesale Bulk orders may show up in Q1/19 (April-June 2018) If not Definitely Q2/19. Consider kg in inventory on the next cc @ wholesale price in the following financials and margins
Musical Interlude:
Bob Marley and The Wailers - Kaya
In historic moment, Senate passes cannabis bill
https://www.theglobeandmail.com/politics/article-in-historic-moment-canadian-parliament-approves-cannabis-bill/
DANIEL LEBLANC PARLIAMENTARY REPORTER
LAURA STONE PARLIAMENTARY REPORTER
MIKE HAGER
OTTAWA AND VANCOUVER
PUBLISHED 8 MINUTES AGO
UPDATED JUNE 19, 2018FOR SUBSCRIBERSDANIEL LEBLANC PARLIAMENTARY REPORTER
LAURA STONE PARLIAMENTARY REPORTER
MIKE HAGER
OTTAWA AND VANCOUVER
PUBLISHED 8 MINUTES AGO
UPDATED JUNE 19, 2018 FOR SUBSCRIBERS
In a historic vote, Parliament has changed Canadian law to lift the 95-year-old prohibition on cannabis and free millions of adult Canadians to openly smoke, ingest or grow the drug without fear of a criminal record.
In the last stage of the legislative process, senators adopted the legislation in a vote of 52-29 Tuesday evening. Bill C-45’s adoption in the Senate means that a legal, multibillion-dollar industry is set to appear in Canada, which will join Uruguay as one of the only countries that offers legal access to cannabis at a national level.
Illegal since 1923, cannabis for recreational use is now expected to go on sale in early or mid-September, with cabinet setting a final date after the legislation receives royal assent. In the meantime, the Cannabis Act will allow licensed producers to start shipping dried cannabis to approved retailers across the country and to set up their mail delivery services.
Vigorously opposed by the Conservatives in the House of Commons and the Senate, the legislation will fuel a social revolution and fulfill a promise made by the Liberal Party during the 2015 federal election. The measure was supported by the NDP in the House and a majority of independents in the Senate.
The next steps for the government include releasing the regulations that will govern the cannabis trade, including approving edible products within a year, and working with Indigenous communities on where to smooth out the negative consequences of the transition to legal cannabis. In addition, the government will now start to look for a way to clear the criminal records of hundreds of thousands of Canadians who were convicted of simple possession under prohibition.
Proponents of legalization have been advocating for looser drug laws in Canada for decades, but the government opted for a strictly regulated market for cannabis. The government’s goal with legalization is to remove a profitable product from the hands of organized crime, ensure that adult Canadians benefit from a safer product and educate children and youth on the dangers of the drug.
However, critics argued the government will actually promote increased usage of the drug among all age groups, boost the number of impaired drivers on the roads and leave young consumers vulnerable to the dangers of cannabis use. Senators tried and failed to amend the legislation to give provinces the right to prohibit the home cultivation of cannabis, as done by Quebec and Manitoba.
Bill C-45 was shepherded throughout the legislative process by Liberal MP Bill Blair, the former chief of the Toronto Police Service who is the parliamentary secretary to the Ministers of Health and Justice. In a recent interview, he said Canadian law is simply catching up to the fact that thousands of Canadians ignore the Criminal Code on a daily basis.
“When a third of the population is ignoring the law, you really have to look at the law,” he said.
Bill C-45 was heavily influenced by a 2016 report by a nine-member task force chaired by former Liberal minister Anne McLellan, which consulted widely in Canada and looked at the experience of Washington State and Colorado, where cannabis use is legal.
“This is a big change for this country,” Ms. McLellan said in an interview. “The change is as much a change in thinking, in the psychology around almost 100 years of prohibition and criminalization of this plant called cannabis.”
All producers of cannabis will have to be licensed by Health Canada, while provinces will oversee the distribution of the dried cannabis and oils to the retail market. Canadian adults (the minimum age varies by province) will be able to carry up to 30 grams, with stiff new penalties for those who provide the drug to minors.
Revenues from the legal market are expected to be used, at least initially, to cover costs related to policing, enforcement, setting up public distribution networks and creating new public-awareness campaigns. Cannabis will be subject to an excise tax of $1 a gram, or 10 per cent on sales of more than $10, with Ottawa keeping 25 per cent and the rest of the money going to provinces and municipalities.
The Senate Does Not Insist on its Amendments !
Yeas 52 : Nays 29: Abstentions 2
Motion is Adopted!
To DA MOON tomorrow !
Big fat session chopped ... joints rolled ... blunts ready to be blazed ... bongs & pipes packed ... dab rig nail heating up ... cookies in the oven ...
— Betting Bruiser (@BettingBruiser) June 19, 2018
CANNABIS LEGALIZATION!
ITS ALMOST TIME TO CELEBRATE! #C45 #Potstocks pic.twitter.com/GvIUX1Uq3R
Senators defer on home cultivation issue, clear way for passing cannabis bill
https://www.theglobeandmail.com/politics/article-senators-defer-on-home-cultivation-issue-clear-way-for-passing/OTTAWA
THE CANADIAN PRESS
PUBLISHED 54 MINUTES AGO
UPDATED JUNE 19, 2018
Senators have backed down on an amendment to the federal government’s cannabis legalization bill that would have recognized the authority of provincial governments to ban home cultivation of marijuana plants if they choose.
The Trudeau government rejected that amendment and now senators have voted 45-35 against insisting on it.
The government rejected 12 other amendments approved by the Senate, but senators felt most strongly about the home cultivation one.
With senators bowing to the will of the elected House of Commons on that issue, that clears the way for them to finally pass Bill C-45 later tonight.
Quebec and Manitoba have already decided to ban home-grown weed, despite the fact that the federal bill specifies that individuals may grow up to four plants per dwelling.
The Senate’s amendment was intended to avoid legal challenges of the provinces’ constitutional authority to prohibit home cultivation.