Jean-Denis Fréchette foresees revenue growth over time as people move from illicit to legal market.

While Canadians are expected to spend billions on legal marijuana, governments won't see a huge boost in tax revenues right out of the gate, warns Canada's Parliamentary Budget Officer (PBO).

In a report released today studying the fiscal considerations of legalizing marijuana, Jean-Denis Fréchette suggests initial revenue for governments from taxation could be in the hundreds of millions of dollars, rather than billions.

But as the market matures, those revenues are likely to grow, according to the analysis. Fréchette expects production costs for the industry will decline and suggests governments could collect a portion of the cost savings.

The parliamentary budget watchdog says that tax revenues arising from marijuana sales will be modest when legalization first takes hold — hundreds of millions of dollars, rather than billions.

In a report released yesterday, the parliamentary budget officer says sales tax revenue could be about $618 million in 2018, or even as high as $959 million depending on tax rates, based on projections that legalized cannabis will cost $9 per gram.

The majority of tax revenues — 60 per cent — will flow to provincial governments, with the rest going into federal coffers.

Will medical marijuana prove to be a miracle treatment for people with multiple sclerosis (MS)?

The National Multiple Sclerosis Society says there are uncertainties about how effective marijuana is in relieving MS symptoms. But the organization supports the right of patients to work with healthcare providers to access medical marijuana where legal.

Supporters of medicinal marijuana are more forceful in their advocacy.

Canopy Growth Corporation (TSX: CGC) ("Canopy Growth" or "the Corporation") has acquired ownership of Vert Médical, a Quebec-based ACMPR applicant.

Canopy Growth has also acquired the lease and the right to acquire 90 acres of land and a 7,000 square foot indoor growing and office facility located in Saint-Lucien, Quebec. The Canopy Growth team will apply its documented and compliant standard operating procedures to pursue completion of the ACMPR license application.  

Non-profit societies active in Vancouver’s multi-million-dollar retail pot sector have reported a wide range of annual revenues, from under $80,000 for one society to more than $3.7 million for another, with those totals almost matched by substantial expenses, according to financial statements obtained by The Vancouver Sun.

At the higher end of reported revenues, the Vancouver Dispensary Society, which has two locations, saw revenues between $3.3 million and $3.7 million over each of the last four years.

Medical-marijuana patients won a court battle at the beginning of this year allowing them to grow their own cannabis at home, but they have no legal way to obtain the seeds or seedlings at an affordable price.

Ottawa tweaked its medical-cannabis regime two months ago, after a Federal Court ruling in February found the government was “over broad and arbitrary” in banning home growing in favour of a mail-order system supplied by a network of large commercial growers.

While most US cannabis investors are focused on home grown marijuana plays, up in The Great White North there’s a lot happening. By 2024, Health Canada projects that the medical cannabis market in Canada will reach $1.3 billion and have ~450,000 patients out of a population of 35 million.

In this zero-to-expert feature, you'll become well-versed on how Canada plans to 'go-green.'

Picture this: you’re driving back from a weekend at the cottage with your friends.

It’s Sunday at noon, and the countryside is beautiful. Suddenly you see blue and red flashing lights ahead; it’s a roadside spot check. You kill the music.

You tell yourself you’ve got nothing to worry about. You’re sober as a gopher. In fact, you’re kind of wired on that large Timmies coffee you stopped for an hour ago. You’re fine.

Vancouver-based Aurora Cannabis (TSXV:ACB) today reported its fourth quarter and fiscal 2016 results, and though the company posted a hefty loss it predicted better days ahead.

For fiscal 2016, Aurora lost $5.7-million on revenue of $1.4-million. The company posted no revenue in fiscal 2015, as it only began to sell medical marijuna products on January 5 of this year.

Aurora CEO Terry Booth characterized the year, one in which the company raised $68-million, made what it feels were key hires, and strengthened its board.

Study finds it boosts activity in cells that transmit light information from the eyes to brain.

Over the last few decades, researchers have noted numerous reports of fishermen and mountain dwellers in Jamaica and Morocco who appear to have improved night vision after ingesting cannabis.

Now, a new study has linked increased levels of cannabinoids, the active agent in marijuana, to enhanced low-light vision in vertebrates.

While previous studies have suggested cannabinoids reduce neurotransmission, researchers now found that activating this type of signalling in tadpoles instead made the retinal ganglion cells more sensitive.