Trudeau, Scheer will go silent on cannabis ahead of election: Bruce Linton

Cam Battley, chief corporate officer at Edmonton-based Aurora Cannabis Inc. (ACB.TO)(ACB), said some hesitation is understandable when it comes …

Bruce Linton says he met with a “fellow named Andrew” and “some people who report directly to a guy named Justin” in Ottawa over the summer.

The encounters left the former co-chief executive of pot giant Canopy Growth Corp. (WEED.TO)(CGC) convinced that political posturing will overshadow the success story of Canada’s cannabis industry in the run-up to the federal election.

“There are enough people who want to find a reason to make a joke about Trudeau. Make him look light, not serious,” Linton told Yahoo Finance Canada on the sidelines of the Grow Up Conference and Expo in Niagara Falls, Ont.

Hinting at major headwind issues for the federal Liberals, such as the SNC-Lavalin affair, he said, “I don’t think the Liberals want to look light and fun.”

For Andrew Scheer’s Conservatives, touting the success of Canada’s cannabis sector would amount to an admission that the party was on the wrong side of a wedge issue in an election Prime Minister Justin Trudeau won, Linton said.

Recall former prime minister Stephen Harper’s remarks in a 2015 debate: “Tobacco is a product that does a lot of damage. Marijuana is infinitely worse and it’s something that we do not want to encourage.”

“The Tories lost the last election in part because they tried to tell a majority of Canadian adults they are wrong,” Linton said of the cannabis legalization issue. “[Now], the Conservatives don’t want to touch it.”

He did not specify if he expects candidates from other parties to raise the economic impact of cannabis as a talking point as Canadians prepare to cast their ballots on Oct. 21.

Linton, arguably the best-known figure in the global cannabis industry, was ousted from his leadership role at Canopy Growth in July. With a track record for innovative deal-making, he is largely credited with elevating investor interest in the burgeoning cannabis sector, not to mention reviving the economic prospects of the small Ontario town of Smiths Falls, where Canopy Growth is based.

Canada’s publicly-listed cannabis producers became the focal point of an investor frenzy in the run-up to legalization last fall, drawing billions of foreign dollars into Canadian-headquartered companies.

Canada’s legal cannabis industry output is near $8 billion, based on seasonally adjusted figures and 2012 constant prices, according to June figures from Statistics Canada. Meanwhile, Canadian household cannabis consumption spending came in at $5.44 billion in the second quarter of the year.

Last month, StatsCan’s profile of federally-licensed cannabis producers found 9,200 people are currently working in the sector, up from 2,630 in the fiscal 2018 year, and 1,438 in fiscal 2017. Meanwhile, 175 companies make up the industry, up from 83 a year earlier and 37 in 2017, StatsCan said.

“This sector has had more foreign direct investment in Canada than every person trying to drill a hole for oil, dig a hole for minerals or cut a tree down to try to make it into something,” Linton said.

“If you look at the last three, five years, more money has come to Canada through this sector than all of those things combined.”

Cam Battley, chief corporate officer at Edmonton-based Aurora Cannabis Inc. (ACB.TO)(ACB), said some hesitation is understandable when it comes to politicians thumping their chests about the economic benefits of cannabis given lingering stigma.

That said, he’s believes the large number of science, technology, engineering and math (STEM) jobs being created by his company and its peers will become tough for politicians to ignore as the industry matures.

“We’re talking about billions of dollars of investment, tens of thousands of new jobs created, and a wide array of economic spin-off benefits. It’s not just about cannabis. It’s about all the additional ancillary industries that benefit, and innovation driven from Canada, including clinical research,” he told Yahoo Finance Canada.

“We will develop a new Canadian consensus about how important this industry is to the economy, and what a positive contribution it’s making.”

Yahoo Finance CanadaYahoo Finance Canada
Yahoo Finance Canada

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Maye Musk, 71, Urges Chanel and Gucci to Feature Older Fashion Models

The 71-year-old Covergirl model (and mom of billionaire Tesla mogul Elon Musk) caught up with PEOPLE on The Daily Front Row Fashion Media …

Maye Musk is embracing the evolving fashion industry — and the fashion industry is embracing her right back!

The 71-year-old Covergirl model (and mom of billionaire Tesla mogul Elon Musk) caught up with PEOPLE on The Daily Front Row Fashion Media Awards red carpet, where she spoke out about inclusion and diversity in fashion.

“They are treating me very nicely and they are very happy that I’m modeling at this age,” she told PEOPLE of industry insiders, many of whom showed up to the New York Fashion Week event to watch stars including Zendaya, Kate Moss and Edward Enninful accept FMA honors.

Ethereum Co-Founder Anthony Di Iorio Stepping Down as Decentral CEO

Ethereum co-founder and billionaire crypto developer Anthony Di Iorio has announced his retirement from Decentral to focus on “philanthropic …

Ethereum co-founder and billionaire crypto developer Anthony Di Iorio has announced his retirement from Decentral to focus on “philanthropic initiatives.”

Di Iorio Stepping Down

According to a report by CoinDesk, Di Iorio informed the platform he was stepping down as Decentral’s CEO. In addition to being one of the original co-founders of Ethereum, Di Iorio is also the founder of Canada-based Decentral Inc., which created the Jaxx cryptocurrency wallet. 

Former Decentral product manager Maggie Xu, who is also Iorio’s girlfriend of two years, will replace him as CEO. 

Di Iorio told CoinDesk, 

“If she develops a roadmap, presents it to me, it will be approved depending on which resources she needs. I’m happy to agree to continue funding [Decentral] if it makes sense.”

Di Iorio oversaw the company during 2018’s bear market, which drastically cut into Decentral’s profit and forced the decision to lay off almost half its staff. While Decentral managed to weather the storm and has resumed hiring, the company is intent on growing into the ecosystem of crypto. 

Newly minted CEO Xu said, 

“We need to add the functions people care about, which is being able to buy and sell crypto, convert it to fiat and send it, while meeting other people in the community.”

Despite retiring as CEO, Di Iorio said he will continue funding and approving budgets for Decentral as chairman of the board. 

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Decentral Inc. Appoints New CEO: Maggie Xu

The multi-cryptocurrency wallet application is driven by user experience and designed with portability and functionality in mind. Learn more on Twitter: …

Founder Anthony Di Iorio becomes Chairman of the Board

TORONTO, Sep. 3, 2019 /PRNewswire/ – Decentral Inc., one of the leading blockchain companies and the maker of Jaxx and Jaxx Liberty, has announced the appointment of Maggie Xuas its new Chief Executive Officer. Effective immediately, Xu will be taking over the position from Anthony Di Iorio, who founded and led the company since 2014. The transition plan was unveiled at Toronto’s Blockchain Futurist Conference on August 13th during Di Iorio’s keynote speech.

Decentral Inc. Appoints New CEO: Maggie Xu (CNW Group/Decentral Inc.)Decentral Inc. Appoints New CEO: Maggie Xu (CNW Group/Decentral Inc.)

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Decentral Inc. Appoints New CEO: Maggie Xu (CNW Group/Decentral Inc.)

As part of the transition, Di Iorio will become Chairman of the Board for Decentral. Di Iorio said: “I’m excited for what the future holds for the company under Maggie’s direction. I will continue to work with her and the team on a regular basis. I have no doubt that she’ll take the company to new heights.” By taking a step back from the blockchain industry, Di Iorio plans to focus on philanthropic, educational, and health-related initiatives.

Xu has worked closely with Di Iorio over the last two years on Decentral’s Product Management, Business Development and Marketing fronts in preparation for her new role. Her background as a lawyer-turned-tech-entrepreneur made her the perfect fit, according to Di Iorio: “Her experience working in business, legal and tech have prepared her to be multi-disciplinary and agile in navigating the fast-changing cryptocurrency world”.

The focus for Xu will be to scale Jaxx Liberty and expand the partner services offered on its platform. Xu said: “I’m honored to lead our rockstar team in this new capacity. We’re building a blockchain app that empowers people to take control of their finances and personal data. Over the years, we’ve had millions of downloads because of our focus on functionality and ease of use. Our vision is to make Jaxx Liberty that go-to unifying interface of the blockchain world.”

About Decentral:

Located in downtown Toronto, Decentral spawned Ethereum and now focuses on its flagship product, Jaxx Liberty. The multi-cryptocurrency wallet application is driven by user experience and designed with portability and functionality in mind. Learn more on Twitter:@jaxx_io

Decentral Inc. (CNW Group/Decentral Inc.)Decentral Inc. (CNW Group/Decentral Inc.)

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Decentral Inc. (CNW Group/Decentral Inc.)
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Ethereum Foundation Hands Out Grants To 8 Projects

In a recent round of funding, the Ethereum Foundation handed out grants to eight projects in preparation of the eventual Ethereum 2.0 upgrade.
Media TeamAugust 27, 2019 8:54 PM
August 27, 2019 8:54 PM
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In a recent round of funding, the Ethereum Foundation handed out grants to eight projects in preparation of the eventual Ethereum 2.0 upgrade. The foundation also created three bounty offerings for various security-related challenges.

Read the full article here.

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