Canadian cannabis producer Tilray reported an annual loss of $336 million (422 million Canadian dollars) for its fiscal year ended May 31, capping off a transformative year in which the company closed a reverse-merger with Aphria and bought U.S. brewer SweetWater Brewing Co. The financial data include four weeks of results flowing from the merger […]
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Canadian cannabis producers have sold less than 20% of output since adult-use legalization
Cannabis producers in Canada have sold less than 20% of their production since the country launched adult-use sales in October 2018, according to an MJBizDaily analysis.
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US-based Cookies plans flagship cannabis store in Toronto this year
Gage Growth Corp. announced details of its previously disclosed plan to bring the U.S. cannabis brand Cookies to the Canadian market, including the location of its first store. Detroit-based Gage will work with Canadian producer Noya Cannabis to launch Cookies products exclusively in Ontario, Canada, before expanding into other provinces, according to a news release. […]
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Aurora Cannabis continues board revamp, installs ex-Pfizer executive
Aurora Cannabis expanded its board and installed Theresa Firestone, a senior health-care executive, as an independent director, the Edmonton Alberta-based company announced Monday. Firestone joins Aurora after overseeing the launch of Shoppers Drug Mart’s medical cannabis business. Shoppers, owned by supermarket giant Loblaw Cos., is the largest pharmacy chain in Canada. Previous to Shoppers, Firestone […]
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Why Entourage bet CA$17.5M on small-batch marijuana cultivation: Q&A with CEO Scorsis
No licensed producer in Canada has managed to gain and hold more than one-fifth of the country’s cannabis market since legalization, even though the largest companies have spent – and lost – billions of dollars trying. George Scorsis, interim CEO of Entourage Health Corp. (formerly WeedMD), doesn’t see that as a fluke. “I believe that […]
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Private-sector BC cannabis delivery launches, bringing new opportunities, challenges for retailers
New rules in British Columbia allowing privately owned cannabis retailers to offer home delivery take effect Thursday. Industry sources say the move could help level the playing field between legal retailers and B.C.’s entrenched illicit market, which until Thursday enjoyed limited competition for home delivery. However, several retailers said they’ve been scrambling to find solutions […]
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Cannabis producer Organigram sees sales rebound in third quarter
New Brunswick-based cannabis producer Organigram Holdings reported an improved fiscal third quarter, with revenue rebounding to 20.3 million Canadian dollars ($16 million), up almost 40% over the previous three-month period. Net loss also improved. The company lost CA$4 million in the quarter ended May 31, an improvement over the second quarter’s CA$66.4 million loss. Organigram […]
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Canadian producers destroyed over 500 tons of cannabis since 2018
Canadian producers have destroyed millions of packaged cannabis products and hundreds of tons of unpackaged marijuana since adult use was legalized in late 2018, according to data acquired by MJBizDaily.
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Yeast, mold concern prompts cannabis recall in Canada
Approximately 11,304 units of recreational and medical cannabis have been recalled in Canada over concerns the affected product might contain yeast, mold and bacteria. The recall involves dried cannabis pre-rolls produced by Edmonton, Alberta-based Atlas Growers and sold by retailers of recreational marijuana in Alberta, the Northwest Territories and Yukon. An undisclosed quantity was also […]
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GTEC Cannabis uplisting to TSX, rebranding as Avant Brands
Kelowna, British Columba-based GTEC Cannabis Co. says it has received approval to graduate from the TSX Venture Exchange and now can list its shares on the Toronto Stock Exchange. The company also said it plans to change its name to Avant Brands. Trading on the Toronto Stock Exchange will commence July 12 under the ticker […]
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New Brunswick monopoly cannabis retailer holding flower competition
The only legal retailer of recreational cannabis in the province of New Brunswick is holding a competition to highlight local producers, engage customers and boost the credibility of the regulated market. The Cannabis NB competition aims to find the best premium dry-flower products from eight Atlantic Canadian licensed producers. The initiative, if successful, could steer […]
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Medical cannabis grown in Germany available for first time
German-grown medical cannabis is available for purchase and sale by local pharmacies for the first time, the Federal Institute for Drugs and Medical Devices (BfArM) announced late Wednesday. Pharmacies can use the portal by Cansativa GmbH to purchase medical marijuana from one of three contracted cultivators, two of which are subsidiaries of Canadian producers Aurora […]
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