Cannabis Canada: Pot industry added nearly $8B to GDP in August, StatsCan says

Cannabis Canada: Pot industry added nearly B to GDP in August, StatsCan says

Cannabis sales in Canada expected to double next year to $3.16B: analyst Canaccord Genuity cannabis analyst Matt Bottomley expects revenue in Canada’s legal pot sector to more than double next year despite slower-than-expected growth. Bottomley said in a research note to clients that Canada’s cannabis industry should expect $3.16 billion in revenue in 2020, up from the $1.46 billion forecast for 2019. He added Canada’s cannabis retail figures should see a five per cent reduction in overall sales in September from the prior month to $121 million, but said subsequent growth should advance at a five-per-cent monthly clip. Bottomley expects growth in the recreational market to increase by just 7.5 per cent in 2020. Alongside its latest estimates for the Canadian cannabis industry, Canaccord’s analysts have revised sales projections for some of the country’s largest licensed producers such as Canopy Growth, Aphria and Aurora Cannabis. BRNT secures multiyear white label deal with Valens GroWorks for 2.2M vape pens BRNT Group, a company which has made its name making high-end cannabis accessories, is getting into the vape game. The company announced on Thursday a partnership with Valens GroWorks to produce a minimum of 2.2 million vape pens over the next two…

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Link to original : Cannabis Canada: Pot industry added nearly B to GDP in August, StatsCan says
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