Ontario gears up for pot licence lottery next week

Ontario’s provincial government will begin accepting entries on Monday for a lottery to apply for an initial 25 retail cannabis licences in the province. The draw will take place on Friday, with results to be posted within 24 hours. The Alcohol and Gaming Commission of Ontario says its rules aim to encourage the opening of retail pot stores by April 1, the first day they will be allowed. Lottery winners who don’t open their doors by that date could face stiff penalties. For a look how retailers and industry insiders expect the lottery to go down, read this report by BNN Bloomberg’s Shane McNeil.

Cannabis stocks dominated TSX trading in 2018

In the year that Canada legalized recreational marijuana, trading in cannabis stocks became mainstream. A chart by The Globe and Mail shows how a cannabis stock was the most-traded TSX-listed equity on the exchange in 144 out of 251 sessions in 2018, or 57 per cent of trading days. Trading activity ramped up in the weeks leading up to the Oct. 17 legalization date, with Aurora Cannabis as the clear standout. Meanwhile, trading activity has remained steady post-legalization, with Aurora and Aphria as the most-traded TSX-listed equities, by volume, in 11 of 19 sessions in December.

Cannabis firms close out 2018 with $13.8B raised

Cannabis companies raised US$13.8 billion with more than 300 deals in 2018, according to a report by Marijuana Business Daily citing data from Viridian Capital Advisors. By comparison, cannabis firms raised just US$3.5 billion and inked 153 mergers and acquisitions in 2017, the advisory firm found.

DAILY BUZZ

“They have to do something to keep the company going – hence vape, hence pot.”

– Tim Regan, managing director at Kingwest & Company, on Altria Group’s recent deals with Cronos Group and Juul



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