Latest news with #Cannabis
CBC
3 hours ago
- CBC
Canada Border Services Agency intercepting more cannabis at Calgary International Airport
Cannabis may be legal in Canada, but there's still an illegal market overseas. Over the past year the CBSA has seized more than 160 kilograms of cannabis at the Calgary International Airport, much of it destined for the United Kingdom.
News.com.au
a day ago
- Business
- News.com.au
Biocurious: The cannabis stocks that stand out in a field of weeds
Cannabis suppliers are struggling to differentiate themselves in a commoditised market Regulators have lax telehealth prescribers in their sights Althea Group has sold its medical pot arm in favour of THC-infused beverages Having sprouted in a field of hope and hype eleven years ago, the ASX medicinal cannabis sector has wilted in the face of unrealistic expectations and misguided strategies. Demand isn't the problem: patients have embraced medical weed zealously since it was legalised a decade ago. Globally, most western countries have sanctioned both medical usage and many have condoned recreational indulgence (including most US states). Because there's only two approved cannabis treatments, local dispensing is largely carried out via an authorised prescriber scheme. In the six months to December 2024, these docs wrote 377,840 prescriptions. Of these, 230,091 were for products with a THC content of more than 98%. Patients aren't mucking around. What's not to like? The answer is rampant oversupply of the green stuff coupled with the rise of telehealth clinics, some of which are being criticised for alleged 'tick and flick' dispensing practices. Echoing Australian Medical Association concerns, Little Green Pharma (ASX:LGP) CEO Paul Long refers to 'poor actors' in the local market. 'Reports constantly refer to a handful of doctors, often junior doctors that are either being coerced, or paid exorbitant money to write a huge volume of THC scripts,' he says. 'I agree it is an issue and calling it out for the long-term growth of our industry is important." He adds hundreds of thousands have tried medical cannabis when nothing has worked, with great success. Reflecting the 'commoditised' market, Althea Group (ASX:AGH) in May sold its local medical cannabis business, Tasmanian Botanics Pty Ltd for a knock-down $1 million. 'The market has become irrational,' says Althea CEO Joshua Fegan. 'It's very saturated, with product from places like Canada, South Africa and Colombia'. He says most of the consumption is by way of dried flower, which implies folk might be smoking the devil's lettuce for jollies rather than using it medicinally. We'll delve further into Althea's new direction below. The dope on how to get it right While most suppliers have withered, a handful prosper via differentiated strategies and perhaps a bit of luck. They are producing meaningful revenues and – in some cases - profits. The Perth-based Little Green Pharma derives 80% of its revenue from the local market, but its greater fortunes align to the rapidly evolving European market. Germany is in the throes of partial legalisation. In France, the company supplies a pilot program that's a precursor to legalisation. Little Green's owns a production facility in Denmark – Europe's biggest – purchased from Canada's Canopy Growth for a knock-down $20 million three years ago. Two hours from the German border, the facility provides a streamlined route to the biggest Continental markets. 'It's very unlikely a site like this will be built again in the foreseeable future,' Little Green CEO Paul Long says. Meanwhile, the company's Busselton facility becomes a 'craft' producer of a small amount of slowly cured, hand trimmed, genetically superior stuff. Naturally, this attracts a better margin. In the year to March 2025 Little Green grew its revenue by 43%, to a record $36.8 million 'against a backdrop of significant regulatory change and intense competition'. European revenues doubled. Adjusted for non-cash items, Little Green managed underlying earnings of $2.9 million compared with a previous $1.6 million loss. From gummies to suppositories Bioxyne (ASX:BXN) has a modest $64 million market cap, but that's big enough to confer 'sector leader' status. Bioxyne's engine room is Breathe Life Sciences (BLS), acquired via scrip in 2023. BLS makes and distributes medical cannabis and other consumer health products, either under its own brands or third-party labels. (locally, Bioxyne is also the only licensed maker of MDMA and psilocybin for authorised prescribers and pyschedelic clinical trials). In 2019 the company launched in the UK and Japan via its well-known Dr Watson brand, covering everything from gummies, to vapes to suppositories. BLS too has entered the German market with a deal to supply a minimum 1.6 tonnes of cannabis flower and finished product to two clients. The company expects the agreement will reap a minimum of $5.6 million of revenue in the 2025-26 year. Ja, das ist gut! Bioxyne CEO Sam Watson expects German demand to rapidly overtake the $1 billion a year Australian market. On June 12 the company upgraded full-revenue expectations from $25 million to $28 million, a lofty step up from the previous year's $9.65 million. The Ebay of medicinal dope Formerly known as Cronos Australia, Vitura Health (ASX:VIT) doesn't produce any of its own material, but operates a marketplace that sells hundreds of flowers and oils from third party suppliers. Vitura also has expanded into prescription nicotine vapes. The company has built a network of physical and online prescribers, mainly via acquisition. Vitura owns the Canview marketplace, Doctors on Demand telehealth business, CDA Clinics (medical cannabis telehealth) and the clinic chain Candor Medical. In May, Vitura's 50% joint venture Flora acquired the digital platform Heyday Medical, 'one of Australia's most respected medicinal cannabis clinics'. Established in 2020, the chain claims to have serviced more than more than 5000 patients. Last November Flora acquired the Releaf Group, which operates telehealth and physical clinics. In a March quarter update, Vitura said full-year revenue was unlikely to meet the targeted 10% improvement. But the June quarter implies a yearly run rate of $138 million, up 11%. Management also expects a 20% improvement on last year's normalised underlying earnings of $8.4 million. Putting the pep into soft drinks Coming back to Althea, the company's new schtick is entering the North American market for THC-infused beverages. (THC is the psychoactive component of cannabis). Yep, these bevvies are legal in Canada and the US and are sold in bottle shops alongside alcohol. Althea's foray is by way of its subsidiary Peak. Althea's Fegan says when Peak started producing in 2021, only 4% of cannabis consumers had tried these drinks. Now, the number is more like one-quarter of them. He says the drinks have a similar effect to a similar sized serve of alcohol, but without the hangover. 'It ticks a lot of boxes as a good consumer product,' he says. Peak's competitive edge is its technique to produce the THC emulsion, without the 'planty' taste of dope. Peak's offerings include seltzers, sodas and mocktails – but it's not yet putting the 'pep' into Pepsi. Peak Canada has just launched its own brand Snap Back, a heady mix of THC and rosin (pine resin). By December Althea expects to have four or five US production sites, as close to distributors as possible. 'These big alcohol companies are looking closely at this space and our job is to develop drinks for those type of companies and produce them at scale," Fegan says. In the December half, Althea derived $8.2 million of revenue in Canada and the company expects this to grow during the summer months. Given the sale of its Australian business, Althea in May withdrew its full-year guidance of revenue between $26-33 million and underlying earnings of $800,000 to $1.1 million. Althea lost $2.6 million in the March quarter. But Fegan says the company should be cash flow positive without the drag of the divested Australian business.
Irish Daily Mirror
3 days ago
- Irish Daily Mirror
Man appears before court charged in connection with €1.6m drugs haul in Wexford
A 46-year-old man charged in connection with a €1.6m drugs haul in County Wexford appeared before a special sitting of Gorey District Court Sunday afternoon. Fintan Fanning of Slaney Drive, Ballycarney, Enniscorthy, Co. Wexford, came before Judge Kevin Staunton. Fanning was charged with on July 18 at Tincurry, Ballycarney, Enniscorthy, Co. Wexford, he had in his possession a controlled drug, namely Cannabis, for the purpose of selling or supply to another in contravention of the Misuse of Drugs Regulations 2017 and 2019 under Section 5 of the Misuse of Drugs Act, 1972. Herbal cannabis worth an estimated €1.6m was seized at Tincurry, Ballycarney, on Friday last following a targeted joint operation involving An Garda Siochana and Revenue's Customs Service. In the course of a joint operation conducted by the Garda National Drugs and Organised Crime Bureau (GNDOCB) and Revenue Officers, a van was intercepted by Gardai in Ballycarney, Wexford, on Friday last, July 18. During the search of the van, approximately 80 kilos of herbal cannabis was discovered with an estimated street value of €1.6m (pending analysis). The accused was arrested at the scene and was detained for questioning under Section 2 of the Criminal Justice (Drug Trafficking) Act, 1996. The accused appeared in court wearing a grey tracksuit, with slight beard, and heavy tattooing around the neck area. He said close to his lawyer during the hearing which lasted less than ten minutes. Det. Garda Dean Healy told Judge Stauntion that on July 19 he arrested the accused and charged him as set out on the charge sheet. He arrested the accused at 15.56 and charged him at 16.03. When the charge was put to the acused he made 'no comment' said Det. Healy. Defence Counsel, Craig Phillips, B.L. instructed by Eoin O'Sullivan, Solicitor, said there would be no application for bail. He applied for free legal aid but no statement of means is yet available to the court, but would be provided at a later date. Sergt. Stephen Ennis told the court he would be seeking a remand in custody to appear before Wexford District Court on Tuesday next via video link. Judge Staunton said he would grant free legal aid subject to a statement of means being made available to the court. Judge Staunton remanded the accused, as requested, in custody to appear before Wexford District Court via video link on Tuesday night. Following the short hearing the accused was escorted from the court by two Gardaí. Subscribe to our newsletter for the latest news from the Irish Mirror direct to your inbox: Sign up here.
Cision Canada
6 days ago
- Cision Canada
RCMP arrest Swissport baggage handlers attempting to smuggle over $147,000 of cannabis to France Français
MISSISSAUGA, ON, July 17, 2025 /CNW/ - On July 4, 2025, two employees of Swissport Canada Handling, a baggage handling company, were arrested following a drug smuggling investigation that involved baggage tag switching. Baggage tag switching is when someone purposely changes the labels on bags at an airport. Each baggage tag tells airport machines where a bag should go and who it belongs to. In this case, the baggage tag was switched so it looked as though the piece of luggage with the cannabis in it belonged to an unknowing traveler. The investigation began in late May 2025 at Toronto Pearson International Airport, when a French national arrived in Paris and was detained by authorities on suspicion of importing Cannabis from Canada. After further investigation, French authorities released the passenger without charges, and the case was subsequently referred to the RCMP Toronto Airport Detachment. The investigation revealed that the following subjects allegedly manipulated baggage tags without the passenger's consent. This led to the illicit transportation of approximately 21 kilograms of Cannabis to France, with an estimated street value of $147,000. As a result, RCMP Central Region Toronto Airport Detachment Border Integrity Response Team arrested and charged the following individuals: Swissport Canada Handling was cooperative upon learning about this investigation, and their support contributed to the timely apprehension of the accused. Both accused have been released on undertakings and are scheduled to appear in court at the A. Grenville and William Davis Courthouse in Brampton on August 6 and August 8, 2025, respectively. The Border Integrity Response Team would like to recognize the contribution of French authorities, la PAF, for quickly identifying the victim in this case and referring the file to the RCMP in Toronto. "The RCMP Toronto Airport Detachment members have been actively investigating cases involving baggage tag switching in attempts to smuggle illegal drugs and contraband out of Canada. I cannot impress enough upon the public the importance of staying vigilant during all aspects of travel. The RCMP is committed to continuing our fight against organized crime groups targeting innocent members of the public regardless of their citizenship." - Inspector John McMath Officer in Charge, RCMP Toronto Airport Detachment. Fast Facts The RCMP shares responsibility for all ports of entry from inbound and outbound criminal threats through criminal investigations and prosecutions related to narcotic smuggling. With a presence across Canada, the RCMP is uniquely positioned to protect our border between ports of entry, but also conduct follow-up investigations when necessary. The RCMP and our policing partners across the world work closely in an investigative capacity, to combat the impact that cross-border criminal activity is having on our communities. If you have any information related to smuggling, drug importation, trafficking, or possession, or wish to report other criminality, you can contact the Ontario RCMP at 1-800-387-0020, the confidential CBSA Border Watch toll-free line at 1-888-502-9060 or anonymously through Crime Stoppers at 1-800-222-8477 (TIPS), at any time. Contact information RCMP Central Region (Ontario) Communications & Media Relations Email: [email protected] Canada Border Services Agency Media Relations [email protected] Media Line: 1-877-761-5945 or 613-957-6500 Website: Twitter: @CanborderGTA Facebook: CanBorder Instagram: CanBorder YouTube: CanBorder SOURCE Royal Canadian Mounted Police - Central Region
Hindustan Times
16-07-2025
- Hindustan Times
Ganja worth ₹1.32 crore seized on Pune-Nashik highway; two arrested
In a crackdown on drug trafficking, the anti-narcotics cell of the Pimpri-Chinchwad police has seized a massive 264 kg of Ganja (Cannabis) from a tempo intercepted on the Pune-Nashik highway, and arrested two individuals in connection with the case. The incident was reported in the early hours of July 14. Assistant police inspector Swapnil Chavan and his team were patrolling when police hawaldar Javed Bagsiraj received a tipoff regarding a tempo ferrying Ganja. (REPRESENTATIVE PIC) Assistant police inspector Swapnil Chavan and his team were patrolling when police hawaldar Javed Bagsiraj received a tipoff regarding a tempo ferrying Ganja. Accordingly, a trap was laid at Alandi Phata on the Pune-Nashik highway and the police intercepted a suspicious-looking tempo only to find and seize 264 kg of Ganja valued at ₹13,211,300. The tempo was impounded and two persons were arrested on the spot. The duo has been identified as Ram Vyankat Pitale, 25, from Uruli Devachi; and Shreyas Pradip Chavan, 21, from Hadapsar. Preliminary interrogation has revealed that the duo was ferrying the Ganja from another state into Maharashtra and intended to distribute it across various locations in the state. Shashikant Mahavarkar, joint commissioner, Pimpri-Chinchwad police, said, 'We have seized Ganja worth ₹1.32 crore by arresting two individuals. This is one of the biggest actions against Ganja in Pimpri-Chinchwad. We are hoping more arrests will be made in this case. Considering further investigation, we cannot disclose certain things at this stage.' An FIR has been registered at the Chakan police station under sections 8(C), 20(B)(ii)(C), and 29 of the Narcotic Drugs and Psychotropic Substances (NDPS) Act. The accused have been remanded to police custody for further questioning.
