BC Ferries vessel breaks down with 85 passengers on board - CBC.ca

BC Ferries says a vessel carrying 85 passengers is currently waiting for a tug boat assist to Swartz Bay after one of its thrusters broke down.

The ferry was en route from Pender Island when it broke down Thursday morning just off Swartz Bay.

"As a precaution, we're going to have a tug-assisted docking at our Swartz Bay terminal ... which is expected to arrive at 1 p.m.," said Deborah Marshall, the director of public affairs at BC Ferries.

The passengers on board are currently being provided with complementary food and beverages.

Marshall said the Salish Raven vessel is "about two and a half years old." 

She added that "occasionally we do have mechanical problems with our vessels and our technicians and mechanics make repairs as quickly as they can."

She said as soon as the vessel docks, a technician will board to try to diagnose the problem.

BC Ferries has now cancelled sailings with the Salish Raven and added an extra sailing with another vessel to leave Swartz Bay at 1:30 p.m., bound for Otter Bay on Pender Island.

The vessel will then depart Pender Island at 2:15 p.m. and return to Swartz Bay.

 

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November 08, 2019 at 04:13AM

Canadian icons come together: Canopy Growth and Drake launch new cannabis wellness company - Canada NewsWire

TORONTO and LOS ANGELES, Nov. 7, 2019 /CNW/ - Canopy Growth Corporation ("Canopy Growth" or the "Company") (TSX: WEED) (NYSE: CGC) and Aubrey Drake Graham ("Drake") are pleased to announce that they have entered into agreements to launch the More Life Growth Company^TM, a fully licensed producer of cannabis based in Drake's hometown of Toronto, Canada.

"When we first began talks with Drake we were extremely inspired by and aligned with his vision to bring best-in-class cannabis products to the world," said Mark Zekulin, CEO, Canopy Growth Corporation. "Drake's perspective as a culture leader and entrepreneur combined with Canopy Growth's breadth of cannabis knowledge will allow our new company to bring an unmatched cannabis experience to global markets."

Drake's eclectic career includes experience across a wide variety of industries including music, television, film, fashion, sports, brand development, content curation and social and digital media strategy. Having launched numerous successful brands over the past decade, he is uniquely positioned to bring his innovative eye to the recreational cannabis industry.

"The opportunity to partner with a world-class company like Canopy Growth on a global scale is really exciting," shared More Life Growth Company founder, Drake. "The idea of being able to build something special in an industry that is ever growing has been inspiring. More Life and More Blessing."

Proudly based in Drake's hometown of Toronto, More Life^TM is centred around wellness, discovery and overall personal growth with the hope of facilitating connections and shared experiences across the globe.

"All in all, we couldn't be more excited to partner with Drake to bring his vision for the More Life Growth Company to global cannabis markets," concluded Mr. Zekulin. "We anticipate a long, successful, and mutually beneficial working relationship."

The Company and Drake will share further details on the More Life^TM team and vision in the weeks to come.

Transaction Details

In connection with the launch of the More Life brand, a previously wholly-owned subsidiary (the "More Life Growth Company") of Canopy Growth, has issued shares to certain entities that are controlled by Drake ("Drake"). Following the issuance of the shares, Drake holds a 60% ownership interest in the More Life Growth Company, with Canopy Growth retaining a 40% ownership.

The More Life Growth Company is the beneficial owner of an entity licensed by Health Canada for the cultivation, processing and sale of cannabis at its production facility in Scarborough, Ontario (the "More Life Facility"). Canopy Growth will continue to provide all of the day-to-day operations and maintenance of the More Life Facility and will retain all of the rights to distribute the product that is cultivated at the More Life Facility.

As consideration for the issuance of the shares of the More Life Growth Company, Drake has granted More Life Growth Company the right to exclusively exploit certain intellectual property and brands in association with the growth, manufacture, production, marketing and sale of cannabis and cannabis-related products, accessories, merchandise and paraphernalia in Canada and internationally. The maintenance of the non-Canada rights after 18 months is contingent upon certain performance criteria of the More Life Growth Company being met. The More Life Growth Company has sublicensed such rights in Canada to Canopy Growth in exchange for payments to be made by the Company on the sale of More Life^TM products, providing Canopy Growth with the exclusive rights to distribute More Life^TM products in Canada. In addition, Canopy Growth has the option to extend the terms and conditions of the sublicense into all international jurisdictions.

Canopy Growth and Drake have entered into a shareholders agreement, investor rights agreements, and various other ancillary agreements to govern the operations of the More Life Growth Company. In connection with these arrangements, Canopy Growth has the right to nominate two directors to the board of the More Life Growth Company as well as a pre-emptive right to maintain its ownership interest in the More Life Growth Company.

Advisors

Cassels Brock & Blackwell LLP acted as legal counsel to Canopy Growth and Reed Smith LLP acted as legal counsel to Drake in connection with the transaction.

Here's to Future (More Life) Growth.

About Canopy Growth Corporation
Canopy Growth (TSX:WEED, NYSE:CGC) is a world-leading diversified cannabis, hemp and cannabis device company, offering distinct brands and curated cannabis varieties in dried, oil and Softgel capsule forms, as well as medical devices through Canopy Growth's subsidiary, Storz & Bickel GMbH & Co. KG. From product and process innovation to market execution, Canopy Growth is driven by a passion for leadership and a commitment to building a world-class cannabis company one product, site and country at a time. Canopy Growth has operations in over a dozen countries across five continents.

Canopy Growth's medical division, Spectrum Therapeutics is proudly dedicated to educating healthcare practitioners, conducting robust clinical research, and furthering the public's understanding of cannabis, and has devoted millions of dollars toward cutting edge, commercializable research and IP development. Spectrum Therapeutics sells a range of full-spectrum products using its colour-coded classification Spectrum system as well as single cannabinoid Dronabinol under the brand Bionorica Ethics.

Canopy Growth operates retail stores across Canada under its award-winning Tweed and Tokyo Smoke banners. Tweed is a globally recognized cannabis brand which has built a large and loyal following by focusing on quality products and meaningful customer relationships.

From our historic public listing on the Toronto Stock Exchange and New York Stock Exchange to our continued international expansion, pride in advancing shareholder value through leadership is engrained in all we do at Canopy Growth. Canopy Growth has established partnerships with leading sector names including cannabis icons Snoop Dogg and Seth Rogen, breeding legends DNA Genetics and Green House Seeds, and Fortune 500 alcohol leader Constellation Brands, to name but a few. Canopy Growth operates eleven licensed cannabis production sites with over 10.5 million square feet of production capacity, including over one million square feet of GMP certified production space. For more information visit www.canopygrowth.com

Notice Regarding Forward Looking Statements
This news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation. Often, but not always, forward-looking statements and information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "estimates", "intends", "anticipates" or "does not anticipate", or "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 statements or information involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Canopy Growth or its subsidiaries to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements or information contained in this news release. Examples of such statements include, among others, statements with respect to the ability of the Company and the More Life Growth Company to bring cannabis products to global markets; and the products that the More Life Growth Company will be offering the adult use market in Canada. 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, including the Company's ability to bring cannabis products to global markets; the timing and availability of the Company's products in the adult-use market in Canada; the timing and completion of a go-public transaction for the More Life Growth Company; risks related to the production, processing and sale of cannabis; and such risks contained in the Company's annual information form dated June 25, 2019 and filed with Canadian securities regulators available on the Company's issuer profile on SEDAR at www.sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking information or forward-looking statements 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 and forward-looking statements included in this news release are made as of the date of this news release and the Company does not undertake an obligation to publicly update such forward-looking information or forward-looking information to reflect new information, subsequent events or otherwise, unless required by applicable securities laws.

SOURCE Canopy Growth Corporation

For further information: Melissa Nathan, Hiltzik Strategies, mnathan@hstrategies.com; Caitlin O'Hara, Media Relations, Canopy Growth Corporation, Caitlin.Ohara@canopygrowth.com, 613-291-3239; Tyler Burns, Vice President of Investor Relations, Canopy Growth Corporation, Tyler.Burns@canopygrowth.com, 855-558-9333 ext. 122

Related Links

canopygrowth.com

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November 07, 2019 at 07:00PM

Maple Leaf Foods to reduce environmental footprint - Business News - Castanet.net

Photo: The Canadian Press

A Maple Leaf Foods employee walks past a Maple Leaf sign at the company's meat facility in Toronto.

Maple Leaf Foods Inc. says it plans to reduce its environmental footprint and become carbon neutral.

The company says its plan is based on reducing emissions and investing in environmental projects in Canada and the United States.

It says the projects will support wind energy, forest protection and re-forestry, as well as the recovery of methane to reduce emissions of the greenhouse gas.

Maple Leaf, best known for its fresh and prepared meats, has been growing its plant-based protein business in recent years.

Chief executive Michael McCain says the global food system must change dramatically if it is to sustainably feed the world's growing population.

He says the company is staking its future on being carbon neutral.

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November 07, 2019 at 09:47PM

Reports of US confirming China tariff rollback drives markets record-high - RT

Reports that the US has agreed to a rollback of tariffs on Chinese goods if ‘phase one’ of the long-awaited trade deal is sealed have sent markets to a record high.

A US official has confirmed the arrangement to roll back tariffs, Bloomberg reported on Thursday afternoon.

The Dow Jones gained 246.34 points, with companies like Caterpillar and Boeing up at least 1.2 percent. Meanwhile, the S&P 500 added 17.27 points, rising to 3,094.05. Energy stocks jumped 1.1 percent.

US President Donald Trump tweeted that the stock market was "up big" on Thursday morning. "A New Record. Enjoy!" he wrote.

Stock Market up big today. A New Record. Enjoy!

— Donald J. Trump (@realDonaldTrump) November 7, 2019

China's Commerce Ministry said Thursday that the two countries had agreed to roll tariffs back in phases, with the first phase of the deal to be signed in the coming weeks.

Also on rt.com China & US agree to roll back tariffs on each other’s goods in phases – Beijing

The agreement comes as Trump prepares to meet Chinese President Xi Jinping in the coming weeks to discuss the deal and sign the first phase.

The meeting had been set to take place at the APEC Summit which was canceled by Chile amid ongoing anti-government protests. A new venue for the signing has not yet been confirmed.

DETAILS TO FOLLOW

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November 08, 2019 at 12:55AM

If you thought Toronto real estate was the best way to get rich, you'd be wrong — stocks have done better - Financial Post

Getting in on the ground floor of Toronto’s housing boom has been seen as a sure-fire road to riches over the past decade. Buying stocks would have been a better bet.

Canada’s S&P/TSX Composite Index has returned 157 per cent, including dividends, since the end of 2008 as the economy chugged along, jobs creation surged and corporate profits rose. Despite hogging all the headlines, prices of residential property in Canada’s most populous city trailed that with a 127 per cent increase, according to the Teranet-National Bank Home Price Index.

It’s clear either of those investments have delivered a tidy return but there’s one group of investors who have done exponentially better: those who bet on the equity version of real estate.

The S&P/TSX Capped REIT Index has risen 354 per cent, dividends included, since the end of 2008 and the S&P/TSX Composite Real Estate Index, made up of real estate income trusts and other companies in the industry gained 262 per cent.

“You don’t have to worry about things like actual maintenance and keeping the property lease up,” said Jenny Ma, an analyst at BMO Capital Markets. “And also you get the diversification of many properties, across different markets and potentially across different asset types as well.”

Liquidity is also key. “You buy and sell REITs like you do any stock on the exchange rather than actually buying and selling properties themselves, which take a lot more time and also have a lot of transaction costs involved,” Ma said.

Low Fees

To be sure, investing in Canada’s stock market has had its ups and downs with concerns surrounding global economic growth, the U.S.-China trade war and the boom (and bust) of commodity prices.

So which investment is more risky?

“Stocks likely have more short-term volatility than home prices, but home prices may be a bit more vulnerable to change in tastes, as well as prolonged periods of under-performance,” said Douglas Porter, chief economist at Bank of Montreal, adding real estate is clearly a less liquid market.

Holding costs are much higher in the world of real estate when you add in property taxes, maintenance costs and other expenses. Meanwhile fees are being reduced or eliminated for many stock-market products.

“Overall, it’s actually quite difficult to properly evaluate real estate returns to equity market returns. And, of course, even then, there’s the issue that you can’t live in your equity portfolio,” Porter said.

Bloomberg.com

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November 07, 2019 at 11:13PM

Juul halts sales of its popular mint flavor - CNBC

Juul Labs products are seen at a store in Palo Alto, California on September 21, 2019.

Yichuan Cao | Sipa USA | AP

Market leading e-cigarette company Juul is halting sales of its popular mint flavor, following the release of two damaging studies this week that showed the company's role in a dramatic spike in teen use, the company announced Thursday.

Studies published Tuesday in the Journal of the American Medical Association found high school students use mint more than any other of Juul's flavors. Juul said it made the decision to pull mint in light of the results.

"These results are unacceptable and that is why we must reset the vapor category in the U.S. and earn the trust of society by working cooperatively with regulators, Attorneys General, public health officials, and other stakeholders to combat underage use. We will support the upcoming FDA flavor policy" and regulatory process to get its nicotine pods cleared for sale in the U.S., Juul CEO K.C. Crosthwaite said in a statement.

Juul last month suspended sales of its other sweet flavors — mango, creme, fruit and cucumber. The company pulled these flavors from convenience stores, vape shops and other retailers last fall amid pressure from the Food and Drug Administration. Juul continued selling them on its age-verified website. 

Juul has not made any final decisions on which flavors it will send to the FDA for review, a Juul spokesman said. All e-cigarette companies are required to submit applications to the FDA for a formal review by May.

Mint accounts for about 70% of Juul's U.S. sales, according to a person familiar with the company's finances who asked not to be named because the information is private. Juul will now sell just three flavors in the U.S.: menthol, Virginia tobacco and classic tobacco.

The Trump administration is expected to announce a policy that would ban flavored e-cigarettes, including mint. Local and state governments are pursuing similar policies. Public health advocates say sweet flavors attract kids to e-cigarettes.

Juul is widely blamed for fueling a surge in teen vaping after decades of successfully convincing kids not to smoke cigarettes. Crosthwaite, who joined Juul in September, is trying to repair Juul's image.

Let's block ads! (Why?)

https://www.cnbc.com/2019/11/07/juul-halts-sales-of-its-popular-mint-flavor.html

2019-11-07 19:37:42Z
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Barrick CEO Bristow sees long-term potential for Freeport tie-up - BNNBloomberg.ca

Barrick Gold Corp.’s chief said there’s a logic to combining with Freeport-McMoran Inc. as a way to expand into copper, but isn’t committing to any deals yet.

A tie-up with Freeport could bolster Barrick’s U.S. presence, where it already operates gold mines in Nevada, said Chief Executive Officer Mark Bristow, who cautioned that it’s not something currently being considered.

“Everyone has been fingered as a potential suitor of Freeport,” said Bristow, when asked if he was interested in a combination. “There’s a bit of work for us to do before we can get our head around broadening our scope.”

Freeport has long been seen as a takeover target for mining majors such as Rio Tinto Group and BHP Group. The biggest miners are all bullish on copper because it’s crucial for the electrification of transport and cities, but supplies look constrained in the long term.

Freeport CEO Richard Adkerson said last year that any strategic move is possible, including acquisitions, partnerships, or even a full sale. The company operates several open-pit copper mines in North America, as well as the giant Grasberg project in Indonesia.

Tier-One Copper

Bristow has previously expressed an interest in buying copper assets because the two metals are often mined together. While Barrick, the world’s second-largest gold producer, already has some copper assets, they’re lower in quality compared with other major mining companies.

“I’ve raised the flag up the pole on copper,” Bristow said in an interview in London. “If there is a strategic metal, it’s copper. If you believe in electrification, copper is the metal and copper comes with gold.”

“For me, it’s all about tier-one assets,” he added.

Bristow, who took the top job this year, already has a track record of bold M&A moves in his short tenure at Barrick. After making a failed hostile bid for Newmont Mining Corp. in February, he stitched together a joint venture to combine their giant Nevada gold projects.

Barrick shares rose two per cent on Wednesday after the company reported better-than-expected profit and raised its dividend. Third-quarter adjusted earnings were 15 cents US a share, compared with the average analyst estimate of 11 cents US. The miner also said it’s on schedule with plans to sell US$1.5 billion of non-core assets by the end of next year.

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November 07, 2019 at 12:17AM