The amount of medical cannabis flower Australian companies are authorized to produce exceeds current and anticipated future domestic demand, federal health authorities said in a document, adding that any “depiction of the situation as a shortage is not accurate.” But industry officials beg to differ, saying demand is still largely met by international companies. Australian […]
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Alberta cannabis cultivators eligible for agriculture grants
Cannabis producers and processors in Alberta, Canada, might be able to access a suite of cost-sharing programs through the Canadian Agricultural Partnership (CAP), a joint federal-provincial initiative, if they meet eligibility requirements. Previously, the Ministry of Agriculture and Forestry, which administers CAP in the province, had not taken a position as to whether cannabis farmers were able […]
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Canadian beer sales continue slide in face of rising cannabis sector
The Canadian beer market suffered its biggest decline in years in 2019 as competition increased from other beverage categories and an expanding cannabis industry. Sales volume of domestic and imported beer fell 3% last year from 2018, the steepest decline in at least seven years, according to data from industry group Beer Canada. Domestic beer […]
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New Zealand hosts medical cannabis workshops for industry, aboriginal stakeholders
New Zealand regulators are hosting a series of workshops starting this week to give aboriginal and industry stakeholders the information they need to prepare applications for federal medical cannabis licenses – including cultivation, research and supply. The workshops will take place in February and March at six locations throughout the country. A session for Maori […]
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Approvals soar for outdoor cannabis cultivation in Canada, with 100-plus applicants in line
As a growing number of Canadian cannabis cultivators retreat from costly greenhouse expansions, more applicants than ever are readying lower-cost outdoor projects. The number of authorizations to cultivate marijuana outdoors doubled to 33 so far this year from last summer’s 17, according to new figures from Health Canada. Ten of those are microcultivators, meaning they’re […]
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Former UN drug policy chief joins Thai cannabis company as president
A former head of the United Nations body responsible for international drug treaty compliance has been hired as president of Thailand’s leading medical cannabis company, lending a significant voice to the global credibility of the industry, especially in Asia, according to experts. Viroj Sumyai will take the reins of Thai Cannabis Corp., effective immediately. “Over […]
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Canadian cannabis company Invictus granted creditor protection
Another Canadian marijuana producer is in financial straits. Vancouver, British Columbia-based Invictus Group has been granted creditor protection so it can conduct a strategic review to address near-term liquidity issues. Analysts have warned that a growing number of cannabis companies are quickly running out of cash, reflecting disappointing earnings and front-loaded capital expenditures. In December, Canadian producers AgMedica […]
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Aurora Cannabis reports steep loss, production drop and higher costs
One week after announcing a transformation plan that involved the departure of its founding CEO, Aurora Cannabis on Thursday reported a net loss of 1.3 billion Canadian dollars ($980 million) for its second quarter, fueled by write-downs worth almost CA$1 billion. The Alberta, Canada, company’s quarterly revenue fell sharply for the period ending Dec. 31, […]
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Alberta set to roll out recreational cannabis vapes ‘in next couple of weeks’
Alberta has notified its 416 adult-use cannabis retailers they will be able to order vape products from the provincial wholesaler as early as this week, opening the door to sales within the next two weeks. Most provinces in Canada saw a limited roll-out of vape products in January, but Alberta delayed release of the products to […]
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Australia expects cannabis prescriptions will more than double to 70,000 this year
Australian health regulators expect the number of medical cannabis prescriptions will climb to at least 70,000 in 2020 at the current rate of growth, but local experts predict the final number could be much higher. That’s more than double the 30,000 approvals through the end of 2019, which the health ministry says roughly equates to […]
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Ontario weighs cannabis consumption lounges, special-occasion permits
Ontario, Canada’s government is asking businesses and other stakeholders whether it should consider regulating cannabis consumption for lounges and cafes as well as offering special-occasion permits for festivals and concerts.
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New Zealand cannabis firm Helius raises NZ$20M for expansion, clinical trials
Weeks before New Zealand’s medical marijuana regulations take effect, Auckland-based Helius Therapeutics says it has raised 20 million New Zealand dollars ($12.8 million) to help fund facility expansion and clinical trials. Helius is among nearly two dozen companies that are licensed to grow cannabis for research purposes. After the regulatory foundation for New Zealand’s medical […]
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Cannabis companies emerge from deadly outbreak with greater focus on technology.