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.
Tilray Brands has quietly abandoned its pledge to achieve annual revenue of $4 billion (5.3 billion Canadian dollars) by the end of 2024, with analysts now predicting the North American cannabis producer will fall far short of that figure.
Israeli cannabis producer InterCure’s proposed acquisition of rival medical marijuana company Cann Pharmaceutical, also known as Better, was terminated after the companies failed to bridge differences.
Calgary, Alberta-based High Tide lost 52.5 million Canadian dollars ($38 million) in its quarter ended Oct. 31, driven largely by noncash impairment charges of CA$48.6 million related to e-commerce platforms.
Canada’s top health regulator said it is cracking down on “several” cannabis companies it alleges are selling “erroneously” classified products that far exceed the 10-milligram THC limit governing individual packages of edibles.
Health Canada has begun asking some federally licensed marijuana companies to stop selling certain ingestible cannabis products the regulatory agency says are incorrectly classified and labeled as “extracts” rather than “edibles,” MJBizDaily has learned.