Three former directors of embattled Canadian cannabis producer CannTrust, including its former chief executive officer, have been charged with offenses such as fraud and making false or misleading statements.
Matt Lamers
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Canada’s dried cannabis inventory falls four consecutive months
The amount of dried cannabis held in stock by Canadian producers, wholesalers and retailers fell in March for the fourth straight month, according to the latest data from the federal regulator, Health Canada. It is the first time inventory declined for four...
Newfoundland cannabis sales top 35% growth, rising to CA$52 million
Just over 52 million Canadian dollars ($42 million) worth of adult-use cannabis was sold in Newfound last year, 36% more than the previous year, according to the Newfoundland and Labrador Liquor Corp.'s (NLC) year-end report. NLC, which regulates the province’s 30...
British Columbia to allow home delivery for private-sector cannabis stores
British Columbia’s privately owned cannabis stores will be able to offer home delivery for adult-use cannabis products starting next month.
Nova Scotia’s regulated cannabis prices fell 28% annually
The average price per gram of adult-use cannabis in Nova Scotia plunged 28% in the fiscal year ended March 31, making regulated marijuana in the Maritime province more competitive with the illicit market, according to the crown corporation in charge of cannabis and...
Why WeedMD sold a cannabis subsidiary for CA$2.5 million after buying it for CA$55 million
Aylmer, Ontario-based WeedMD announced the sale of its Starseed Medicinal subsidiary in Bowmanville, Ontario, for 2.5 million Canadian dollars ($2.1 million) in cash to Final Bell Canada, less than two years after the cannabis producer paid more than CA$50 million to acquire the business.
Cronos inks deal to buy cannabis MSO PharmaCann stake for $110 million
A subsidiary of Toronto-based Cronos Group purchased an option to acquire approximately 10.5% of PharmaCann, one of the largest privately held cannabis companies in the United States, for $110.4 million (134 Canadian dollars). The deal, if executed, would give Cronos...
‘Craft absolutely surprised us,’ Hexo CEO says as cannabis sales plunge
Canadian cannabis producer Hexo Corp. lost almost 21 million Canadian dollars ($17.3 million) in its third quarter on revenue that came in substantially lower than expected, in part, because of increasing competition from craft marijuana companies. Net revenue for the...
Deal reached to sell TGOD’s Quebec cannabis greenhouse at CA$200M loss
Canadian cannabis company The Green Organic Dutchman Holdings (TGOD) entered into an agreement to sell its greenhouse in Salaberry-de-Valleyfield, Quebec, for substantially less than the project’s total cost.
Quebec’s cannabis store operator posts CA$66.5 million profit
Quebec’s government-run cannabis store operator, the Société québécoise du cannabis (SQDC), generated net income of 66.5 million Canadian dollars ($55 million) in its recently concluded fiscal year, according to its annual report. The SQDC reported annual sales CA$537...
Ontario’s privately owned cannabis stores reopening to customers Friday
Hundreds of privately owned cannabis retailers across Ontario are preparing to open their doors to in-store customers Friday as the province enters the first phase of its reopening plan with COVID-19 vaccinations ramping up.
Hemp producer, marijuana software firm receive Canadian federal grants
A hemp producer and marijuana retail software company were among a group of small- and medium-sized businesses in Saskatchewan that received funding from the Canadian federal government. Alberta-headquartered Blue Sky Hemp Ventures received 749,115 Canadian dollars...
