Extract Magazine

Business News

  • No categories
Crop King Marijuana Seeds
Business News Events News Press Release

Calgary and Edmonton Cannabis Expos Postponed – New Dates & Free Tickets Inside

Jay Alexander
Amidst growing concerns of COVID-19’s ability to spread and quickly, Canada’s top cannabis events are being cancelled and postponed across the board. Non essential services, and no group events, means there’s really no other option. The Calgary Cannabis Expo and the Edmonton Cannabis Expos are two of Alberta’s largest cannabis trade shows, attracting audiences in the thousands, featuring kiosks from...
Business News

Leafly Lays Off Nearly 40% Of It’s Workforce Amidst COVID 19 Panic

Jay Alexander
Following mass layoffs and panic, the cannabis industry in North America has lost more jobs and continues to downsize amidst the growth of COVID-19 virus. A number of social media accounts early Monday are suggesting that Seattle based Leafly has slashed another 91 jobs due to the outbreak. Yet to be officially announced in an official press release, the buzz...
Business Business News Licensed Producers News

Cannabis Industry Loses 1000 Jobs: Canopy Growth Corp Joins Aurora Cannabis in Massive Canadian Lay Offs

Jay Alexander
2020 has been a rocky start for licensed cannabis producers in Canada as industry layoffs have plagued two of the worlds largest cannabis companies Aurora Cannabis, and now Canopy Growth. Since legal cannabis’ inception in Canada late 2018, logistics have posed a problem for licensed producers of all scales. Regulatory requirements, and costs associated with getting licence approval has created...
Business News News

20% Tax Increase Coming To Vape Products In Alberta

Jay Alexander
The Alberta 2020 Tax Plan has been released and inside the province takes aim at vape products with a 20% tax increase that applies to all vape hardware, e liquids and products that allow consumers to make their own products at home. Escaping the tax increase is tobacco, pharmaceuticals and non vape related cannabis products. Product TypeTaxableAll vaping devices (e.g.,...
Business News Science

Costs of Becoming a Medical Cannabis Producer Skyrocket as Health Canada Drops a Bombshell

Jay Alexander
Health Canada is taking additional steps to protect the integrity of the current medical cannabis system. While many industry insiders suggest the new changes are simply another move disguised to prevent new entries to the medical cannabis market in Canada. On May 8, 2019 the processes, and costs associated with becoming a medical cannabis producer in Canada drastically shifted, with...
Business News Dispensaries News

Recreational Cannabis Income Statistics Since Legalization

Jay Alexander
The graph below compares recreational cannabis retail purchases in actual dollar amounts by province and territory, across Canada October 2018 – February 2019. *Actual sales figures – multiple each number by 1000. RegionOct 2018Nov 2018Dec 2018Jan 2019Feb 2019Canada41,46553,72657,33554,87649,893Alberta5,70111,20514,22514,03712,342Quebec9,41611,85911,99311,21811,389Ontario11,4548,9208,7218,9477,539Nova Scotia4,4516,3656,4225,4084,610Manitobaxx4,1633,8944,067New Brunswick2,1903,0293,2643,0352,677Saskatchewan2,4622,3302,4972,5422,344British Columbia2701,0771,2391,9631,923Newfoundland and Labrador2,1442,6152,8552,1251,390Prince Edward Island8501,2531,3481,2261,077Yukonxx403337289Northwest Territoriesxx205144246Nunavut.......... *Actual sales figures – multiple each number by 1000. Cannabis statistics Canada via Stats...
Business News

THC Excise Duty Tax Breakdown

Jay Alexander
Here’s a table breakdown of the THC Excise Duty Tax that will be introduced to Canadians May 1, 2019. Learn more about the excise duty and new classes of cannabis products. ProvinceFederal Rate ($/mg of total THC)Additional Rate ($/mg of total THC)Sales Tax Adjustment (%)Alberta0.00250.007516.8%British Columbia0.00250.0075–Manitoba0.0025N/A–New Brunswick0.00250.0075–Newfoundland and Labrador0.00250.0075–Northwest Territories0.00250.0075–Nova Scotia0.00250.0075–Nunavut0.00250.007519.3%Ontario0.00250.00753.9%PEI0.00250.0075–Quebec0.00250.0075–Saskatchewan0.00250.00756.45%Yukon0.00250.0075–
Business News Licensed Producers

Sundial Growers Inc. Increases Cannabis Production With Additional 140,000 sq ft Micro Cultivation Facility in Olds

Jay Alexander
The discussion as of late, quality cannabis reaching medical patients from the licensed producers, and quality cannabis reaching recreational consumers from the dispensaries. Or lack of. If you’re new to the legal cannabis discussion in Alberta, you’ve probably heard about a lack of cannabis reaching patients and dispensaries as regulatory agencies suggest that licensed producers have been the bottle neck...
Business Business News

Soft Drink Juggernauts and Trending Cannabis Alliances

Jay Alexander
It should be no surprise that multimillion dollar companies are trying to find some partnerships with major cannabis companies. Business rumors and deals are practically popping up on a weekly basis. The stock market has fizzed up and initially demonstrated some positive gains for investors trading publicly listed cannabis companies. Major news outlets from across the world have relished from...
Business Business News

Major seed & fertilizer company Scotts Miracle-Gro (SMG) holds ties to cannabis market

Jay Alexander
If you have ever shopped in the seasonal section of a hardware store then you’ve likely see or heard of Scotts Miracle-Gro. This renowned lawn care company is famous for its marketing capabilities and store front positioning. The Scotts Miracle-Gro (SMG) company has notably been at the front of most fertilized alias and hardware stores. As you may know, establishing...