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Matt Lamers

Matt is based in the Greater Toronto Area and covers international cannabis markets for Marijuana Business Daily. Previously, he worked as a business editor, photographer and reporter for newspapers and magazines in three countries, covering everything from the oil and gas industry in northern British Columbia to North Korean defectors in Seoul.

Cannabis firm Tilray reduces minimum quorum after delayed investor meeting

British Columbia-based Tilray amended its bylaws to reduce the required quorum for shareholder meetings, the cannabis producer said in a news release. The move comes one day after the company postponed a special meeting regarding its pending merger with Aphria, effectively giving stockholders additional time to vote on the business combination. This means the required quorum […]

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Cannabis producer Hexo eyes US entry with CA$1.2 billion shelf prospectus

Canadian cannabis producer Hexo Corp. filed a preliminary short form base shelf prospectus that could enable it to raise up to 1.2 billion Canadian dollars ($960 million) in capital over a 25-month period. Once the prospectus is finalized, Ottawa-headquartered Hexo will be able to issue securities such as common shares, warrants, subscription receipts and units. […]

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Toronto-based Flowr exits Australia, Uruguay, Spain cannabis markets

Toronto-headquartered cannabis company Flowr Corp. is slashing its workforce and pulling out of noncore markets – including Australia, Uruguay and Spain – as part of a strategic review intended to put the business on firmer financial footing. Flowr is the latest Canadian cannabis company to retreat from some costly and unlucrative international markets, following similar […]

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Organigram reports CA$66.4 million loss on falling cannabis sales

New Brunswick-based cannabis producer Organigram’s net revenue fell to a multiyear low of 14.6 million Canadian dollars ($11.6 million) in its December 2020-February 2021 quarter, the company said Tuesday. Organigram’s revenue has trended lower since reaching an all-time high of CA$26.9 million in the quarter ended Feb. 28, 2019 – the first full quarter of […]

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Aphria loses CA$361 million as cannabis revenue plunges 24%

Leamington, Ontario-based cannabis producer Aphria reported a net loss of 361 million Canadian dollars ($287 million) for the three months ended Feb. 28, 2021, after its marijuana revenue plunged almost 25% over the previous three-month period. That brings Aphria’s loss for the first three quarters of its fiscal year to CA$486.7 million. Overall net revenue […]

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Health Canada to cease monthly cannabis industry data releases

Canada’s federal health department will no longer be releasing cannabis industry data on a monthly basis, a spokesperson for Health Canada told Marijuana Business Daily, citing priorities related to the ongoing pandemic. “We are working in prioritization mode in order to ensure that information most vital to the wellbeing and safety of Canadians is being […]

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Here’s how much legal cannabis is being sold in Canada’s biggest cities

Toronto might boast the most legal cannabis sales of any Canadian city, but its residents lag far behind those in Calgary and even Quebec City when it comes to per-capita spending on recreational products. Data from Canada’s federal statisticians offers early insights into how much legal cannabis is being sold in some of the country’s […]

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Vancouver last in per-capita legal cannabis spending among major Canadian metro areas

Vancouver, British Columbia, experienced the lowest per-capita spending on legal adult-use cannabis products among Canadian cities last year, according to data from Statistics Canada, indicating the city has a long way to go before regulated storefronts are competitive with the entrenched illicit market. Spending on legal marijuana in Vancouver’s census metropolitan areas totaled 105.6 million […]

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Cannabis sales in Quebec border city collapse after province hikes age requirement

Cannabis store sales plunged in the Quebec border city of Gatineau after the province raised the legal age for buying marijuana from 18 to 21 in January 2020, according to an analysis of data provided by Statistics Canada. Sales in Gatineau reached an all-time high of 1.83 million Canadian dollars ($1.4 million) in December 2019. […]

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Cannabis producer Zenabis reports CA$70 million loss for 2020

British Columbia-based cannabis producer Zenabis Global reported a net loss of 70.5 million Canadian dollars ($56.3 million) for 2020, an improvement over the previous year’s CA$127 million loss. Net loss from continuing operations was CA$54.9 million, while the loss from discontinued operations was CA$15.6 million, according to the company’s year-end financial statements. Interest expenses amounted […]

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Australian cannabis sales to surpass $150 million in 2021

Australia’s medical marijuana sales could surpass 200 million Australian dollars ($152 million) this year, a twofold increase over 2020, fueled by growing patient numbers and better product selection, according to a new forecast by data firm FreshLeaf Analytics. The North Sydney-based company said Australia is still “heavily dependent” on Canada and Europe for imports of […]

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