Sales of adult-use cannabis in Canada are slowing more quickly than expected, according to a new report, and at least one analyst says structural changes are needed for the nation’s industry to recover growth momentum.
Matt Lamers
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Fitch chops Canopy rating, citing cannabis producer’s Constellation link
Fitch Ratings downgraded its assessment of Canadian cannabis producer Canopy Growth to CCC-, one of the agency’s lowest ratings.
SNDL successful in bid to acquire marijuana producer Zenabis
Calgary, Alberta-based SNDL said it successfully completed its acquisition of Zenabis Group.
Cannabis producer Hexo reports CA$1.1 billion loss for year
Quebec-based cannabis producer Hexo Corp. reported a net loss of 102.4 million Canadian dollars ($75 million) for its fourth quarter, bringing the company’s total loss for the year to CA$1.1 billion.
Toronto exchange OK with Canopy’s US cannabis plan despite Nasdaq objection
The chief executive of the Toronto Stock Exchange has suggested that Canopy Growth’s proposed structure to speed its entry into the U.S. cannabis market is compatible with the exchange’s rules.
Cannabis producer Cronos fined CA$1.3 million by Ontario securities regulator
Canadian cannabis producer Cronos Group has been slapped with sanctions, including an administrative penalty of 1.3 million Canadian dollars ($960,000), for improperly recognizing CA$7.6 million in revenue in its 2019 interim financial statements.
Nasdaq objects to Canopy plan to consolidate US cannabis revenue
The Nasdaq stock exchange objects to Canopy Growth’s plan to eventually consolidate the financial results of Canopy USA, according to a regulatory filing by the Canadian company with the U.S. Securities and Exchange Commission.
Germany’s proposed adult-use cannabis legalization plan excludes imports
The German government published key details of its plan to legalize and regulate adult-use cannabis, including what Health Minister Karl Lauterbach described as “complete” cultivation within the country.
Canopy Growth speeding entry into US cannabis market, but full approval might stretch into 2024
Canopy Growth Corp. is accelerating its entry into the United States through a plan that will trigger full ownership of its American cannabis investments under the umbrella of a new U.S.-domiciled holding company, Canopy USA, in advance of any potential federal reform.
Canada’s August cannabis sales growth limited by Ontario wholesale outage
Canada’s overall recreational cannabis sales inched higher in August, but a wholesale outage in Ontario, the country’s largest market, limited nationwide growth to less than 1%.
Ontario securities regulator hits cannabis producer Cronos for faulty financial statements
Ontario’s securities regulator said it entered into settlement agreements with cannabis producer Cronos Group and one of its former top executives over allegations involving a breach of securities law and conduct contrary to the public interest.
Germany may rely on domestic cannabis cultivation, leaked paper suggests
Germany’s recreational cannabis market should impose a cap on potency and rely on domestic cultivation, according to preliminary proposals for the planned recreational market by the country’s Ministry of Health.
