Latest news with #CannabisAct
Cision Canada
28-05-2025
- Cision Canada
1610 kg of cannabis intercepted by CBSA officers in Halifax
HALIFAX, NS, May 28, 2025 /CNW/ - On May 5, 2025, border services officers at the Port of Halifax, with assistance from CBSA intelligence officers, examined a marine container destined for export to Barbados. During this examination, officers uncovered 1,610 kilograms of suspected cannabis, valued at nearly $12 M. The drugs were falsely declared as tiles on the documentation provided to CBSA officers and were concealed in 80 boxes throughout the container. The cannabis and all evidence was transferred to the Royal Canadian Mounted Police (RCMP) Eastern Region Federal Policing (Nova Scotia) for further investigation. The CBSA and the RCMP collaborate on investigations to prevent illegal drug smuggling and organized crime from threatening the safety and well-being of our communities. Although cannabis is legal in Canada, the illicit cross-border movement of cannabis is a serious criminal offence, punishable with imprisonment of up to 5 years under the Customs Act and up to 14 years under the Cannabis Act. Quotes "The diligent work of our Canada Border Services Agency container examination team and intelligence officers is keeping Canada's borders safe. Smuggling cannabis in or out of the country is a serious criminal offence. Intercepting this shipment represents our continued commitment to public safety in Canada and beyond." , Regional Director General, Canada Border Services Agency, Atlantic Region Quick Facts Canada is investing $1.3 billion to bolster security at the border and strengthen the immigration system, all while keeping Canadians safe. Information available on the Border Plan is available here: The Government of Canada's Border Plan: significant investments to strengthen border security and our immigration system - CBSA officers at the Container Examination Facility in Halifax are responsible for examining high-risk containers and cargo arriving and leaving Canada by sea via the Port of Halifax. Working closely with other law enforcement agencies, including the RCMP, the CBSA uses data, intelligence, and risk indicators to identify illegal goods transiting the border. The Agency conducts intelligence operations and investigations, to identify and interdict contraband. These activities continue to lead to numerous seizures across the country, and various charges laid under the Customs Act and the Criminal Code. For the latest seizure statistics, visit Canada Border Services Agency seizures.
Yahoo
28-05-2025
- General
- Yahoo
1610 kg of cannabis intercepted by CBSA officers in Halifax
HALIFAX, NS, May 28, 2025 /CNW/ - On May 5, 2025, border services officers at the Port of Halifax, with assistance from CBSA intelligence officers, examined a marine container destined for export to Barbados. During this examination, officers uncovered 1,610 kilograms of suspected cannabis, valued at nearly $12 M. The drugs were falsely declared as tiles on the documentation provided to CBSA officers and were concealed in 80 boxes throughout the container. The cannabis and all evidence was transferred to the Royal Canadian Mounted Police (RCMP) Eastern Region Federal Policing (Nova Scotia) for further investigation. The CBSA and the RCMP collaborate on investigations to prevent illegal drug smuggling and organized crime from threatening the safety and well-being of our communities. Although cannabis is legal in Canada, the illicit cross-border movement of cannabis is a serious criminal offence, punishable with imprisonment of up to 5 years under the Customs Act and up to 14 years under the Cannabis Act. Quotes "The diligent work of our Canada Border Services Agency container examination team and intelligence officers is keeping Canada's borders safe. Smuggling cannabis in or out of the country is a serious criminal offence. Intercepting this shipment represents our continued commitment to public safety in Canada and beyond." - Dominic Mallette, Regional Director General, Canada Border Services Agency, Atlantic Region Quick Facts Canada is investing $1.3 billion to bolster security at the border and strengthen the immigration system, all while keeping Canadians safe. Information available on the Border Plan is available here: The Government of Canada's Border Plan: significant investments to strengthen border security and our immigration system - CBSA officers at the Container Examination Facility in Halifax are responsible for examining high-risk containers and cargo arriving and leaving Canada by sea via the Port of Halifax. Working closely with other law enforcement agencies, including the RCMP, the CBSA uses data, intelligence, and risk indicators to identify illegal goods transiting the border. The Agency conducts intelligence operations and investigations, to identify and interdict contraband. These activities continue to lead to numerous seizures across the country, and various charges laid under the Customs Act and the Criminal Code. For the latest seizure statistics, visit Canada Border Services Agency seizures. If you have information about suspicious cross-border activity, please contact the CBSA Border Watch toll-free line at 1-888-502-9060. SOURCE Canada Border Services Agency View original content:
Calgary Herald
20-05-2025
- Business
- Calgary Herald
John Ivison: Punitive taxes are killing the legal cannabis industry
Article content If you want to be a millionaire, start with a billion dollars and launch a cannabis production company in Canada. Article content Article content In the original version of his famous quote, British entrepreneur Richard Branson was highlighting the challenges and capital intensive nature of the airline industry. But a new report by consultancy firm Deloitte, due for release on Wednesday, paints a similar picture. Article content Article content The report looked at the impact of Canada's cannabis excise tax and concluded the industry's financial viability is in question because of high taxes. Article content Article content The Cannabis Act of 2018 was a cornerstone piece of legislation for the Trudeau government, which pledged to 'outflank' organized crime by undercutting the black market for pot. Article content But the new report suggests that illicit producers still control between one quarter and a half of the market, partly because a punitive excise tax regime raises costs for legal producers. Article content The Deloitte report, commissioned by the Cannabis Council of Canada, said that the excise tax paid to governments accounted for 31.5 per cent of gross production revenues last year, at a time when prices are falling. Article content It would, of course, be rare to find an industry that endorses the amount of tax it is paying. Article content However, the government's own expert panel, which conducted a legislative review of the Cannabis Act last year, noted the industry's 'urgent concerns' about viability and said they were 'well founded.' Article content Article content Deloitte looked at the financial results of 36 licensed cannabis producers between 2019 and 2024 — nine of which filed for insolvency during the period under review. Article content Article content The share of production revenues diverted to excise taxes doubled in that time, making it the largest single expense. Article content When the excise tax was set at $1 per gram or 10 per cent of the value of dried or fresh cannabis seeds (whichever was greater), prices were around $10 per gram. But the flood of new entrants to the market, and the stubborn illicit market, lowered the price to around $3-4 per gram, sending the effective tax rate over 30 per cent. Article content The industry has argued that the excise duty should be adjusted to a uniform 10 per cent of value and the flat rate of $1 per gram should be eliminated entirely.
National Post
20-05-2025
- Business
- National Post
John Ivison: Punitive taxes are killing the legal cannabis industry
If you want to be a millionaire, start with a billion dollars and launch a cannabis production company in Canada. Article content Article content In the original version of his famous quote, British entrepreneur Richard Branson was highlighting the challenges and capital intensive nature of the airline industry. But a new report by consultancy firm Deloitte, due for release on Wednesday, paints a similar picture. Article content Article content The report looked at the impact of Canada's cannabis excise tax and concluded the industry's financial viability is in question because of high taxes. Article content Article content The Cannabis Act of 2018 was a cornerstone piece of legislation for the Trudeau government, which pledged to 'outflank' organized crime by undercutting the black market for pot. Article content But the new report suggests that illicit producers still control between one quarter and a half of the market, partly because a punitive excise tax regime raises costs for legal producers. Article content The Deloitte report, commissioned by the Cannabis Council of Canada, said that the excise tax paid to governments accounted for 31.5 per cent of gross production revenues last year, at a time when prices are falling. Article content It would, of course, be rare to find an industry that endorses the amount of tax it is paying. Article content However, the government's own expert panel, which conducted a legislative review of the Cannabis Act last year, noted the industry's 'urgent concerns' about viability and said they were 'well founded.' Article content Article content Deloitte looked at the financial results of 36 licensed cannabis producers between 2019 and 2024 — nine of which filed for insolvency during the period under review. Article content Article content The share of production revenues diverted to excise taxes doubled in that time, making it the largest single expense. Article content When the excise tax was set at $1 per gram or 10 per cent of the value of dried or fresh cannabis seeds (whichever was greater), prices were around $10 per gram. But the flood of new entrants to the market, and the stubborn illicit market, lowered the price to around $3-4 per gram, sending the effective tax rate over 30 per cent. Article content The industry has argued that the excise duty should be adjusted to a uniform 10 per cent of value and the flat rate of $1 per gram should be eliminated entirely.
Business Wire
02-05-2025
- Business
- Business Wire
Organigram to Report Second Quarter Fiscal 2025 Results on May 12, 2025
TORONTO--(BUSINESS WIRE)--Organigram Global Inc. (NASDAQ: OGI) (TSX: OGI), (the 'Company' or 'Organigram'), Canada's #1 cannabis company by market share, announced today it will report earnings results for its second quarter fiscal 2025 ended March 31, 2025, on Monday, May 12, 2025, prior to market open. The Company will host a conference call to discuss its results with details as follows: To register for the conference call, please use this link: To ensure you are connected for the full call, we suggest registering a day in advance or at minimum 10 minutes before the start of the call. After registering, a confirmation will be sent through email, including dial in details and unique conference call codes for entry. Registration is open through the live call. To access the webcast: Participants will receive their details via email. A replay of the webcast will be available within 24 hours after the conclusion of the call at and will be archived for a period of 90 days following the call. About Organigram Organigram Global Inc. is a NASDAQ Global Select Market and TSX listed company whose wholly owned subsidiaries include Organigram Inc., a licensed cultivator and processor. Through its recent acquisition of Collective Project Limited, Organigram Global participates in the US and Canadian cannabinoid beverages markets. Organigram Global is focused on producing high-quality cannabis for adult recreational consumers, as well as developing international business partnerships to extend the Company's global footprint. Organigram Global has also developed and acquired a portfolio of legal adult-use recreational cannabis brands, including Edison, Holy Mountain, Big Bag O' Buds, SHRED, SHRED'ems, Monjour, Tremblant Cannabis, Trailblazer, BOXHOT, DEBUNK and Collective Project. Organigram Global operates facilities in Moncton, New Brunswick and Lac-Supérieur, Quebec, with a dedicated edibles manufacturing facility in Winnipeg, Manitoba. The Company also operates two additional cannabis processing facilities in Southwestern Ontario; one in Aylmer and the other in London. The facility in Aylmer houses best-in-class CO2 and Hydrocarbon extraction capabilities, and is optimized for formulation refinement, post-processing of minor cannabinoids, and pre-roll production. The facility in London will be optimized for labelling, packaging, and national fulfillment. The Company is regulated by the Cannabis Act and the Cannabis Regulations (Canada). Forward-Looking Information This news release contains forward-looking information. Often, but not always, forward-looking information can be identified by the use of words such as 'plans', 'expects', 'estimates', 'intends', 'anticipates', 'believes' or variations of such words and phrases or state that certain actions, events, or results 'may', 'could', 'would', 'might' or 'will' be taken, occur or be achieved. Forward-looking information including expectations regarding market performance, involves known and unknown risks, uncertainties and other factors that may cause actual results, events, performance or achievements of Organigram Global to differ materially from current expectations or future results, performance or achievements expressed or implied by the forward-looking information contained in this news release. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information include factors and risks disclosed in the Company's most recent annual information form, management's discussion and analysis, and other Company documents filed from time to time on SEDAR+ (see and filed or furnished to the Securities and Exchange Commission on EDGAR (see Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information and no assurance can be given that such events will occur in the disclosed time frames or at all. The forward-looking information included in this news release are made as of the date of this news release and the Company disclaims any intention or obligation, except to the extent required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.
