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The most profitable cannabis businesses in Canada are owned by government

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(This is the first in an occasional series on profits, losses and the burgeoning Canadian cannabis industry.) 

The most profitable cannabis businesses in Canada are owned by various levels of government, according to MJBizDaily research.

At the same time, cumulative private-sector losses easily exceed 16 billion Canadian dollars ($12.5 billion), led mostly by big producers such as Smiths Falls, Ontario-based Canopy Growth Corp., Edmonton, Alberta’s Aurora Cannabis and Tilray Brands, which has its executive offices in New York City.

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The largest companies are yet to become profitable, even though:

Investors poured billions of dollars into the industry before and after legalization in 2018. The federal government shields Canadian producers against foreign competition in the medical cannabis market. Canada’s federal government showered the same corporations with hundreds of millions of dollars in federal grants – money that does not have to be repaid – lobbying records reviewed by

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Marijuana Business Daily

Kentucky gov says he’ll issue decree establishing medical cannabis market

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Kentucky Gov. Andy Beshear indicated he will take executive action to authorize medical cannabis in the state.

Beshear plans to issue the order because legislation to legalize medical marijuana stalled in the Senate in March after it cleared the Kentucky House.

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“We’ll be making final determinations on actions that we could take, but there will be some actions forthcoming,” the Democrat said at a news conference, according to the Murray Ledger & Times.

In his remarks, Beshear cited a Team Kentucky Medical Cannabis Advisory Committee report that included testimonials from doctors, pharmacists and advocates about the benefits of MMJ for patients.

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The governor June appointed the 17-member committee in June to establish a medical marijuana policy for the state.

The members were chosen based on their relevant experience in health care, addiction treatment, cannabis advocacy and law enforcement, among others.

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Georgia awards two medical marijuana production licenses

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Georgia regulators awarded two licenses to grow, manufacture and sell low-THC marijuana oil.

The licenses went to Botanical Sciences, a local company, and Trulieve Georgia, the Atlanta Journal-Constitution reported.

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Trulieve Georgia is a subsidiary of Florida-based marijuana multistate operator Trulieve Cannabis.

The two companies will be allowed to produce cannabis oil with a THC content capped at 5%.

The licenses allow them to cultivate marijuana in 100,000-square-foot indoor facilities.

The businesses can also open up to five medical marijuana dispensaries.

Trulieve’s indoor cultivation and processing facility will be located in Adel. Botanical Sciences’ will be based in Glennville.

State law requires the businesses to start growing marijuana within a year, the Journal-Constitution reported.

The 24,400 registered MMJ patients in Georgia who receive a doctor’s recommendation can legally use medical cannabis to treat terminal cancer, Parkinson’s disease and severe seizures, among other conditions.

The Georgia Access to Medical

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Canadian adult-use cannabis sales get summer bump with record July

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Adult-use cannabis sales jumped sharply in July as Canadians stocked up for summer, new data from Statistics Canada suggests.

Regulated marijuana sales that month grew to 395 million Canadian dollars ($315 million), an almost 4.5% increase over June.

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It was one of the biggest monthly gains so far this year in Canada.

The province of Manitoba experienced the biggest monthly increase by percentage, jumping 20% to CA$17.1 million in retail sales.

On a dollars basis, the biggest monthly increase was in Ontario, where sales rose CA$6.8 million to CA$159.5 million in July.

Quebec’s cannabis sales grew a disappointing 1% month-over-month to about CA$50 million.

So far this year, roughly CA$2.55 billion worth of recreational cannabis has been sold.

In the remaining provinces, July sales totals and month-over-month sales were:

Alberta: CA$69.1 million (+3%). British Columbia: CA$57.3 million (+6%). Manitoba: CA$17.1 million (+20%). Nova Scotia: CA$9.1 million

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