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Global alcohol giant Constellation Brands is spending $5 billion to increase its stake in Canopy Growth – the largest strategic investment in the cannabis space to date – which the marijuana producer says will help it scale up and fend off competition from established players in big pharma and booze who are hungrily eyeing the pot industry.
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As more countries jump on the legal cannabis bandwagon, the opportunities for Canadian cannabis producers to expand to global markets have never been bigger. This is the consensus among industry observers and emphasized at the opening session of the MJBizCon International conference in Toronto last week.
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B.C.-based cannabis producer, Tantalus Labs, has received its licence to sell medical cannabis, issued by Health Canada under the Access to Cannabis for Medical Purposes Regulations. Tantalus Labs will begin shipping cannabis products from its high-efficiency facility, called SunLab, in the coming weeks, according to the company.
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There are many issues relating to First Nations (FN) and cannabis in Canada, and they span from local to national level, from taxes and retail issues to health and organized crime. Many believe that with recreational cannabis legalization, cannabis stores will greatly surge in number on FN reserves, similarly to how small tobacco stores sprouted up all over reserves during the 1990s. Indeed, in some areas of Canada, it's already started.
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Canopy Growth's chief executive is talking more aggressively about the potential for U.S. expansion when and if marijuana becomes federally legal south of the border – following news the licensed medical marijuana producer got a $5-billion infusion of cash – believing that even under a Trump government that day will dawn sooner than anticipated.
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Until recently, the craft of growing cannabis has mostly been an underground trade, where the development of growing techniques is largely a private, trial-and-error process. As legalization spreads and cannabis becomes further normalized, cultivators are asking the question: when will cannabis farming be treated like farming?
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