Aphria fixing corporate governance, production problems as company eyes U.S. strategy

Aphria’s chair and interim CEO Irwin Simon is focusing on stabilizing the company’s Canadian operations before making any plays across the border. That’s what Simon told BNN Bloomberg in an interview at Aphria's new Toronto office where he spoke broadly on the Leamington, Ont.-based cannabis producer’s 90-day strategic review. Simon’s plans includes dramatically changing how the company’s board handles potential conflicts of interest, putting final touches on a new automated assembly line, and getting ready to tackle the second wave of cannabis legalization in Canada when edibles and concentrates will be sold in the country. Investors appear to have taken notice with Aphria shares up 25 per cent on the Toronto Stock Exchange since Simon joined the company on Dec. 27.

Canopy Growth sips up Niagara County winery for $10 million

Canopy Growth now owns a wine company. The world’s biggest cannabis company bought Niagara County’s Coyote's Run Estate Winery for almost $10 million, according to a report by Niagara Now. After the deal – which involves two parcels of land totaling about 60 acres - was reported, the winery operation abruptly closed its retail shop and took down its website. Jordan Sinclair, vice-president of communications for Canopy Growth said the company hopes to continue the grape-growing operation on the properties. Canopy’s Tweed Farms has a large greenhouse located next to the Coyote’s Run property.

Is the next big pot gadget a vape that can deliver precise cannabis dosing?

Investors are pouring money into the race to develop devices that promise precise marijuana dosing, Bloomberg reports. Unlike alcohol or Tylenol, there’s never been a standard dosage for THC, the main psychoactive ingredient in pot. Cannabis startup Indose is looking to change that with disposable vape pens that use a pair of sensors to measure the dose of THC delivered with each draw. The market for vaping and devices with dose control is growing, and investors are taking notice following Curaleaf’s acquisition of Select – a brand of cannabis oil popular in California – as well as Pax Labs, makers of one of the most popular weed vaporizers.

GOD settles with Hamilton over Ancaster cultivation facility

The Green Organic Dutchman said Friday it settled with Hamilton to begin building its facility at its Ancaster, Ont. location following a lengthy process between the company and local government officials. Last month, a local newspaper reported that city officials said the finalized conditions for the proposed settlement to build the facility were only being formally delivered to the company and had yet to be accepted. It is unclear what has been settled, but the newspaper reported that new terms include items designed "to protect neighbours" from unspecified "potential negative impacts" from expanding pot production. The facilities in Ancaster, Ontario will be capable of growing 17,500 kilograms of premium certified organic cannabis annually, the company said in a statement.

$7.09 - The price of a gram of cannabis in Canada, according to the Cannabis Benchmark’s Canada Cannabis Spot Index. This equates to US$2,361 per pound at current exchange rates. The data provided noted that price volatility has diminished as Canada’s cannabis market begins to work out lingering supply issues.

DAILY BUZZ

$7.09
- The price of a gram of cannabis in Canada, according to the Cannabis Benchmark’s Canada Cannabis Spot Index. This equates to US$2,361 per pound at current exchange rates. The data provided noted that price volatility has diminished as Canada’s cannabis market begins to work out lingering supply issues.

Cannabis Canada is BNN Bloomberg’s in-depth series exploring the stunning formation of the entirely new – and controversial – Canadian recreational marijuana industry. Read more from the special series here and subscribe to our Cannabis Canada newsletter to have the latest marijuana news delivered directly to your inbox every day.