The Bank of Montreal is now charging cannabis licensees $7,000 to their documents to decide whether to provide them services. They charge an additional $1,000 annually for “maintenance.” Insiders were unimpressed.
Twitter—PipeDreemz, Matt Maurer, Trina Fraser
- Even industry standby Alterna Credit Union is said to now be charging cannabis licensees a $5,000 fee plus $1,000 annual fee.
Twitter—Forest Farms GCI
Stock prices across the sector declined for the tenth month in a row.
New Cannabis Ventures
Quebec MED LP Cannara Biotech got licensed and will soon begin growing in Quebec’s second-largest indoor cannabis production site, a 58,000-square foot facility 60km outside Montreal. The company aims to secure a supply agreement with the SQDC.
Global News, GrowthOp
After BC craft-umbrella LP Pasha laid off much of its staff and lost most of its board of directors in December, some relocated up-and-coming LP Shelter, which this week acquired Saskatchewan licensed cultivator and processor Agro Greens Natural Products for an undisclosed amount.
The Deep Dive
Dragon’s Den star Kevin O’Leary hopped on the corporate psychedelics bandwagon, while his co-star Brett Wilson bought all of Indiva‘s $2M offering. (Indiva which also received its edibles, extracts, and topicals license.)
GrowthOp, London Free Press, New Cannabis Ventures