Canada could grow into a global leader in marijuana investment on Trudeau

TORONTO — Friendlier laws on medical marijuana use in Canada are already drawing American investment north of the border, and the trend is likely to further ignite if the federal Liberals make good on their promise to allow recreational use of the drug.Poseidon Asset Management, a San Francisco-based hedge fund focused squarely on the cannabis space, says it is considering boosting its Canadian holdings following Justin Trudeau’s election win.“We have one core holding up there currently but we would love to expand that,” says Morgan Paxhia, the hedge fund’s founding partner and chief investor.Greg Engel: No need to reinvent the wheel on cannabisLegalizing marijuana in Canada will be ‘a lot harder to implement than you think’: Colorado officialCanada’s budding marijuana industry could blossom into a $5-billion market if Liberals make recreational pot legalSouth of the border, Poseidon invests only in businesses that are “one step away from touching the leaf,” such as producers of cooling systems used in marijuana production facilities or vaporizer technology.That’s because despite the fact that a number of states — including Oregon, Colorado and Washington — have legalized the recreational use of marijuana, U.S. federal laws that prohibit the drug leave cannabis producers operating in a legal grey zone.“We wouldn’t want to put our (investors) at risk with that exposure in the United States,” says Paxhia. “That’s why Canada is of interest to us, because we can then participate in that growth.”Experts say American institutional investors looking for cannabis plays are heading north, where medical access to the drug is legal countrywide, to avoid running afoul of U.S. federal laws or sinking their money into companies that could be shut down by U.S. federal authorities.“That’s a theme we’ve been seeing for a long time — foreign investors investing in Canadian companies, to the point that most of the capital raised now for Canadian companies comes from overseas,” says Khurram Malik, a Jacob Securities analyst who tracks the medical cannabis space.Trudeau’s election win could accelerate that trend further says Alan Brochstein, the founder of 420 Investor and communications and marketing firm New Cannabis Ventures.“Canada really has a chance to be a global leader here,” says Brochstein.Some companies that operate in the U.S. have even started listing their shares on Canadian markets in the hopes of capturing more investment dollars.“That’s part of the rationale of listing in Toronto, because we can attract U.S. investment in Toronto,” says Don Robinson, CEO of Golden Leaf Holdings, a cannabis extracts producer currently operating in Oregon.Golden Leaf, which has plans to expand across North America, listed its shares on the alternative Canadian Securities Exchange on Oct. 14. under the symbol GLH.Nutritional High International Inc., a company that sells marijuana edibles to recreational users in the U.S., has been trading on the Canadian Securities Exchange since March, even though edible cannabis products are not currently legal north of the border.“You’re going to see a lot of U.S. marijuana companies listing on the Canadian exchanges up here,” says Malik, noting that Canada has a high number of legitimate cannabis companies trading on its stock markets relative to other countries.So (cannabis companies) are looking for a market where their legitimate peers are trading and that happens to be Canada“If you go to the OTC pink sheets in the U.S. there’s probably over 100 names, but a lot of those are pretty sketchy,” says Malik. “So (cannabis companies) are looking for a market where their legitimate peers are trading and that happens to be Canada.”However, Braden Perry, a lawyer who specializes in government compliance, says even investing in Canadian cannabis firms could spell trouble for American funds.“If you have U.S. money invested in a product that is illegal in the United States, repatriating that money could be considered a money laundering violation,” said Perry, a partner in Kansas City-based law firm Kennyhertz Perry, LLC.However, Perry adds that the issue is a complicated one.“I don’t want to be accusing people of breaking the law when I don’t know exactly what they’re doing.” read more

Total of federal and provincial emissions regs only takes us half way

AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email Total of federal and provincial emissions regs only takes us half way: report OTTAWA – The federal government says it sees no need to change its greenhouse gas strategy despite a new, hard-hitting report — commissioned by Ottawa — that shows Canada falling far short of its climate change objectives.The report by the National Round Table on the Environment and the Economy added up every provincial and federal measure — existing and proposed — to reduce greenhouse gases.It found that Canada is on track to achieve only half of its 2020 target to reduce greenhouse gases by 17 per cent below 2005 levels.“Canada will not achieve its 2020 GHG emissions reduction target unless significant new, additional measures are taken,” the report said.“More will have to be done. No other conclusion is possible.”In order to actually meet the target, Ottawa would have to take the lead, collaborate closely with provinces and introduce significant new measures to curtail emissions, especially in Alberta, the report concluded.A spokesman for Environment Minister Peter Kent said the report validates the federal government’s approach.“Our approach is the way to go. It’s working,” said press secretary Adam Sweet.He said Kent is in constant contact with the provinces so that regulations at all levels of government complement each other.“The fact that we’re 50 per cent of the way, that’s supportive of what we’ve been saying the whole time,” Sweet said. “We are making significant progress…. We recognize that more has to be done. We’ve always stated this.”The federal government is busy right now developing regulations to curtail emissions in the oil and gas sector, he added. He would not give a timeline for when the rules would be in place or what impact they would have on emissions.But the opposition NDP says the federal Conservatives’ unwillingness to acknowledge the findings of the report, coupled with their scaling back of environmental regulations, prove they have no intention of meeting their emissions targets.“If you’re going to be approving projects without considering greenhouse gases — and that’s going to be the case — then it will be impossible to meet targets of any kind,” said NDP Leader Tom Mulcair.“They have no intention of meeting those commitments. They can’t do it.”The round table’s findings that Canada is not on track to meet its emissions targets echoed the conclusions reached by many analysts, as well as the federal environment commissioner. The advisory panel’s report, however, is the first full accounting to add every initiative on the books and project emissions out to 2020 and 2030.The federal government, after several false starts, has decided to regulate each carbon-producing sector one by one, implementing the rules gradually over the coming years.Provinces have taken their own paths, with British Columbia implementing a carbon tax and Quebec heading toward a cap-and-trade system.“The history of this file has been fragmented, uneven, uncertain and therefore uncontrollable in terms of saying here’s what the outcomes are going to be,” the round table’s president, David McLaughlin, said in an interview.So far, provinces are more effective than the federal government in reducing emissions. They are collectively responsible for 75 per cent of the reductions so far — although that may change as the federal regulations fall into place.Even so, the report warned that since each province is acting alone and the federal government rarely acts in concert with provincial provisions, overlap and policy gaps are a certainty.“Governments have talked, have acted to some degree, but sustained progress that Canadians can count on is not yet taking place,” McLaughlin said in an introduction to the report.“We need to move beyond current approaches and have a truly pan-Canadian dialogue on how to do this better. If not, Canada’s 2020 target will remain a hope, not a reality.”It is possible to catch up and meet the emissions reduction target — but only at a high cost and with unprecedented federal-provincial co-operation, McLaughlin said.The provinces have all told him they want more certainty in federal policy, and they also want Ottawa to at least consider additional measures that would put a price on carbon, he added.Kent’s spokesman, however, said the sector-by-sector approach will prove to be sufficient.The report pointed out that Alberta is key to making progress.Since most of Canada’s future emissions will come from the oil and gas sector, emission reductions from Alberta will need to make up at least half of the country’s total, if the target is to be met.All other provinces will need to increase their efforts too, even though Nova Scotia and Saskatchewan are on track to achieve their internal targets, and Ontario is close.“Put succinctly, Canada’s target cannot be achieved without emissions reductions in Alberta, but Alberta alone cannot achieve Canada’s target,” the report said.The federal government needs to take the lead, and collaborate with provinces in a formal forum that allows all jurisdictions to make serious commitments, McLaughlin said.The federal government has made an effort to move out of areas of shared jurisdiction. When it comes to the environment, Ottawa is scaling back its role in environmental assessment, allowing the provinces more scope.And when it comes to tackling greenhouse gas emissions in particular, the federal government has consistently ignored the round table’s advice to put a price on carbon and act quickly, in order to spare the country from an expensive panic later.Now, the federal government is shutting down the round table itself, saying its research can be found elsewhere.The round table’s report contradicted that claim, pointing out that Environment Minister Peter Kent actually commissioned the emissions tally, saying the round table was in “a unique position to advise the federal government on sustainable development solutions.” by News Staff Posted Jun 13, 2012 11:45 am MDT read more

UN mission strongly deplores deteriorating tensions in Sudans Darfur region

In a press release, the Mission said it remained “gravely concerned” about that apparent continued mobilization of both sides despite a temporary lull in the fighting, adding that UNAMID peacekeepers in East Darfur had “raised their levels of preparedness” and put in place “proactive response measures” to address any spike in requests for civilian protection.“UNAMID continues to exert around-the-clock efforts to mitigate the impact of fighting on the civilian population in the area,” the press release continued. “The Mission is ready to assist the Sudanese authorities in the ongoing evacuation of more than 50 injured tribesmen from both tribes to Khartoum for treatment.”In addition, the Mission explained it had also provided East Darfur State medical authorities with medicines and other surgical equipment which were in short supply. read more