Canada’s top cannabis regulator chose not to fine CannTrust and Bonify Medical Cannabis despite significant violations of the rules governing the country’s marijuana industry – including illegal cultivation and sale.
Matt Lamers
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Australia to ‘significantly reduce’ regulatory burden for cannabis industry
Australia has proposed amendments to the Narcotic Drugs Act that would overhaul the medical cannabis industry by streamlining the licensing process for businesses and ensure access for patients. Rhys Cohen, editor-at-large for the Australian publication Cannabiz, said...
Will GW’s multibillion-dollar sale ‘open floodgates’ to pharma-cannabis deal-making?
Jazz Pharmaceuticals’ planned $7.2 billion takeover of United Kingdom-based GW Pharmaceuticals could kick off a wave of deal-making between pharma and medical cannabis companies, analysts and industry sources say.
Legal recreational cannabis sales in Canada outstrip illicit spending for first time
Sales of regulated adult-use cannabis in Canada overtook illegal transactions for the first time in the third quarter of 2020, according to new Statistics Canada data. That development demonstrates the success of legalization in these early years, experts say, though...
Medical cannabinoid firm GW Pharma to be acquired by Jazz Pharmaceuticals for $7.2 billion
Global pharma company Jazz Pharmaceuticals has reached an agreement to buy U.K.-based GW Pharmaceuticals, one of the largest medical cannabinoid businesses in the world, for $7.2 billion in cash and stock, the drugmakers announced Wednesday.
Marijuana firm Valens files prospectus to issue up to CA$150M in securities
The Valens Co. filed a base shelf prospectus with securities regulators in Canada that would enable the cannabis derivative manufacturer to raise up to 150 million Canadian dollars ($117 million) in aggregate over the next 25 months. That is up from the CA$100 million...
Aurora Cannabis inks deal to supply Australia market
Canada’s Aurora Cannabis signed a five-year supply agreement with MedReleaf Australia, the Alberta-based company announced. The deal makes MedReleaf Australia the exclusive supplier of the Canadian producer’s MedReleaf, CanniMed and Aurora brands. [include_post...
Analyst warns of closures, consolidation amid Canadian cannabis glut
The Canadian cannabis industry should brace for more facility closures, bankruptcies and consolidation amid a worsening oversupply situation, Jefferies analyst Owen Bennett warned this week following a Marijuana Business Daily report drawing attention to the country’s ballooning inventory.
Aurora Cannabis raising $125 million with eye on reducing debt
Aurora Cannabis is raising $125 million via a stock-purchase deal to finance general corporate activities, which might include “opportunistically reducing debt,” the Alberta company announced.
Canadian cannabis sales slip in most provinces in November
November retail sales of recreational cannabis products across Canada fell to 261 million Canadian dollars ($205 million), 3.2% lower than in October, according to the latest data from Statistics Canada. November’s sales represent the broadest fall since September...
Valens ‘clears the deck,’ liquidating most cannabis oil inventory
Cannabis derivative manufacturer Valens Co. said it is liquidating most of its oil inventory, citing industry trends such as outdoor marijuana harvests and falling prices. Marijuana Business Daily has reported extensively on Canada's glut of dried cannabis, edibles...
Canada’s ‘croptober’ surge pushes cannabis inventory over 1 million kilograms
Canadian licensed producers added a record 220,461 kilograms of marijuana to their inventories in October 2020, according to new data offering a statistical glimpse of the country’s first large-scale “croptober” – when most of the fall outdoor harvest comes in.
