Cannabis consumers in Canada can expect cheaper product from their local legal dispensaries.

New data from Statistics Canada released on Wednesday (October 9) shows the price of legal marijuana has dropped for the first time since recreational use of the drug was legalized in October last year, though illegal cannabis continues to be cheaper.


Legal cannabis prices fell almost 4 percent in the third quarter to C$10.23 per gram from a previous price of C$10.65 per gram.

Until this most recent quarter, the cost of legal cannabis had been rising. Despite the recent decline, legal marijuana is still up 4.9 percent from the initial cost of C$9.75 per gram when it first became legal federally in October 2018.

Average cannabis prices from the combined legal and illegal sources dropped 6.4 percent in the third quarter this year, falling to C$7.37 from C$7.87 per gram.

The federal agency reported that illegal marijuana prices tumbled 5.9 percent from the last quarter to C$5.59. Consumers of illicit cannabis have been getting a discount on the plant since legalization, as well, with prices dropping 12.4 percent since Q4 of 2018.

Statistics Canada has been gathering the information from illegal cannabis websites since May of last year, giving a different view of the illicit market since it does not include prices from illegal storefronts.

Over 570,000 prices have been collected since the second quarter of 2018, the agency said, adding that over 413,000 responses passed the validation process.

Since the data only reflects online purchases of illicit cannabis, it’s not completely comparable with StatsCannabis data that tracks online and other means of purchasing.

Statistics Canada said the web data shows an inverse relationship, where prices drop as the quantity of cannabis purchased increases.

“In the third quarter, web-scraped data showed that cannabis purchases in quantities of less than 1.5 grams averaged C$10.23 per gram, whereas purchases of 28 grams or more averaged C$5.86 per gram,” the agency said.

Mature US state markets pave the way for cannabis price drop

Though there has been a decrease in cost, average cannabis prices in Canada are still significantly higher than in some US jurisdictions.

According to data from cannabis research firm Headset released in March this year, Colorado reigns with the lowest price per gram of dried flower in the US at US$4.60, or C$6.12 based on conversion rates on October 10, 2019.

Washington comes in as the second cheapest with an average price of US$4.90 per gram, or C$6.51.

Headset’s data also shows the most expensive marijuana can be purchased in Nevada at US$13.70 per gram of dried flower or C$18.21.

Don’t forget to follow us @INN_Cannabis for real-time news updates!

Securities Disclosure: I, Danielle Edwards, hold no direct investment interest in any company mentioned in this article.

Trulieve to donate $20,000 in scholarship funding and $15,000 to support leadership development

Trulieve Cannabis Corp . (CSE: TRUL) (OTC: TCNNF), a leading and top-performing cannabis company in the United States today announced a new partnership with the Thurgood Marshall College Fund (TMCF), the nation’s largest organization exclusively representing the Black College Community. Trulieve will donate $20,000 to help fund several college scholarships awarded to students who are attending one of the organization’s member-schools as part of Trulieve’s diversity, equity, and inclusion initiatives. The $15,000 in talent funding is earmarked to support TMCF’s internship program, reaching a diverse talent pool of students and alumni from their 47 member-schools to provide immersive experiences at Trulieve.

Keep reading... Show less

The new dispensary expands patient access to Florida’s largest inventory of medical cannabis products

Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) (“Trulieve” or “the Company”), a leading and top-performing cannabis company based in the United States announced today the opening of a brand-new Florida dispensary, the Company’s 80th nationwide. The new location marks the Company’s first in Tamarac and third in Broward County expanding patient access to Florida’s largest and broadest assortment of high-quality medical cannabis products.

Keep reading... Show less

Revive Therapeutics Ltd. (“Revive” or the “Company”) (CSE: RVV, USA: RVVTF), a specialty life sciences company focused on the research and development of therapeutics for medical needs and rare disorders, is pleased to announce an update on the Company’s U.S. Food & Drug Administration (“FDA”) Phase 3 clinical trial (the “Study”) to evaluate the safety and efficacy of Bucillamine in patients with mild to moderate COVID-19.

With its recent $23 million dollar financing, the Company plans to aggressively expand from 14 clinical sites to up to 50 clinical sites to meet the next enrollment goals for the Study in Q2-2020. The Study is a randomized, double-blinded, placebo-controlled trial and the safety and efficacy data analyzed at each interim analysis timepoint of 210, 400, 600 and 800 completed patients are only made available to the Independent Data and Safety Monitoring Board (“DSMB”) for review and recommendations on continuation, stopping or changes to the conduct of the Study. In the event of any serious safety concerns, the DSMB would be notified to determine any risks and provide its recommendations. To date, in this initial 210 interim point there have been no serious safety concerns that required the DSMB to be notified.

Keep reading... Show less

HempFusion Wellness Inc. (TSX:CBD.U) (OTCQX:CBDHF) (FWB:8OO) (“HempFusion” or the “Company”), a leading health and wellness CBD company utilizing the power of whole-food hemp nutrition, is pleased to announce that its common shares have been approved for DTC full-service eligibility in the United States by the Depository Trust Company (“DTC”) and can now be both traded and serviced through DTC’s electronic book-entry system.

DTC is a subsidiary of the Depository Trust & Clearing Corp. (“DTCC”) that provides clearing and settlement services for the financial markets and settles the majority of securities transactions in the United States. This electronic method of clearing securities speeds up the receipt of stock and cash and thus accelerates the settlement process for investors and brokers, enabling the stock to be traded over a much wider selection of brokerage firms.

Keep reading... Show less

CFN Enterprises Inc. (OTCQB: CNFN) (CFN Media) partners with FMW Media Works LLC to produce a regular series on the global cannabis markets to air on major financial news networks across the US. Initial segment features leading cannabis analyst and US Multi-State Operator (MSO)

CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the leading media network dedicated to the global legal cannabis, CBD and psychedelics industries, today announced that its inaugural news segment on the cannabis markets, “Cannabis Market Outlook for 2021,” will air on Bloomberg, Newsmax and Fox Business.

Keep reading... Show less