News

Quick Hits: Cannabis news in brief

Published on March 7, 2025 by Pat Bulmer

Photo: Adobe Stock/the oz.

Cannabis news in brief: BC Bud no more; Unionization continues in BC; heavy-hitting vapes; TSX Venture goes to pot

BC Bud quitting cannabis

BC Bud Co. is getting out of the cannabis business.

In a news release, the company said it will become an investment firm instead and change its name to Digital Commodities Capital Corp.

“Following a thorough evaluation of the company’s existing operations and a review of its strategic options, the company believes that the experience and industry contacts of the board and management will enable it to identify and capitalize upon investment opportunities and ultimately bring greater value to the company’s shareholders as an investment issuer,” the release said.

“The company will continue to operate and maximize the value of its existing cannabis assets while retaining flexibility regarding their future disposition,” the release concluded.

More stores unionize

Two more cannabis stores in B.C.’s Lower Mainland have unionized.

Employees at North Shore Cannabis in North Vancouver, and Main & 41st Cannabis in Vancouver have joined the BC Budtenders Union, a division of UFCW 1518.

“These newly unionized stores, and the recent certification of Kiaro Cannabis in September, show the growing strength of our union and the desire for better working conditions and more fairness in the sector,” the union said in a social media post.

“The decision to unionize at Kiaro Cannabis (in Port Moody) was driven by common industry challenges: low wages, limited job security, and unfair treatment. At a time when workers are struggling to make ends meet due to the high cost of living, job security becomes critical,” UFCW said in a news release.

In the Greater Vancouver area, the Davie Street Canna Cabana, Seed and Stone in Delta and Yaletown Cannabis Store are also unionized.

Around B.C., the union represents workers at cannabis stores in Victoria, Nanaimo and New Hazelton, and at Potanicals Green Growers in Peachland.

Potent vapes hit the market

Tilray’s Good Supply Monsters brand is expanding with potent new vapes.

“Building on the success of their popular 1,000mg THC pre-rolls, the Good Supply Monsters collection is now expanding into the vape category with … Grape Daddy Kush and Super Lemon Guy 1,000 mg THC resin vapes,” the company said in a news release.

“Each 1.5g cart is packed with 1,000mg of THC, offering a potent and tasty vaping experience,” the company boasts.

The vapes feature a “custom-designed heating coil, crafted with a specialized alloy for faster, harder hits” and a wider mouthpiece, the company says.

Greenway, MTL post growing revenues

Revenues were up as 2024 came to a close for Ontario-based Greenway Greenhouse Cannabis.

The company reported net revenue of $1.7 million for the final quarter of the year, up 21% from the same time period a year ago.

For the nine-month period ending Dec. 31, net revenues were up 57% to $5.9 million, the company said.

“The Canadian cannabis industry is rebounding, and Greenway is helping to lead the charge,” said Carl Mastronardi, company president, in a news release. “As we continue to see the price of wholesale cannabis increase, we are looking toward new and emerging markets … we will continue to expand our distribution both domestically and internationally.”

Greenway launched several new brands and its MillRite pre-rolls continue to be a category leader, the company said.

Greenway says it continues to see an increase in cannabis prices, reaching $1.58 per gram in the quarter, up from $1.22 in the previous quarter.

Likewise, Pickering, Ont-based MTL Cannabis reported revenue growth.

Gross revenues topped $25 million for the quarter — an 8% jump over a year ago, the company said in its financial report. Over a nine-month period, gross revenues were up 20%.

Tweed expands in Germany

Smiths Falls, Ont.-based Canopy Growth has introduced four new Tweed-brand products to the medical market in Germany.

Grown in Portugal, the new products are: Jack Herer, a sativa-dominant strain; Balanced Caramel and Wappa, two indica-prominent strains; and Gelato 33, a balanced hybrid strain.

This adds to Tweed’s introduction of Glitter Bomb, an indica-dominant, high-THC strain earlier in December through a partnership with a German cultivator.

Companies perform well on Venture exchange

Two cannabis companies were listed among the top-50 performers on the TSX Venture stock exchange.

Alberta-based Simply Solventless came in at No. 14 with a 420% share price appreciation on 2024. Share price was 15 cents to start the year and 78 cents at the end of 2024.

Simply Solventless just completed the purchase Delta 9 Bio-Tech’s 98,000-square-foot growing facility in Winnipeg. Bio-Tech has been renamed Humble Grow.

High Tide, also based in Alberta, was at No. 21 with a 108% appreciation from $2.13 at the start of the year to $4.42 at the end of the year. High Tide recently opened a new Canna Cabana store in Hamilton, its 192nd store in Canada.

High Tide also announced its planned 51% purchase of German’s Purecan GMBH hit a snag.

“The company continues to be committed to the German medical cannabis market and will explore both alternative structures with Purecan and other opportunities for entry into Germany,” High Tide said in a news release.