EMAIL: mattl@mjbizdaily.com
PHONE: 720.699.0794

Matt Lamers

Matt is based in the Greater Toronto Area and covers international cannabis markets for Marijuana Business Daily. Previously, he worked as a business editor, photographer and reporter for newspapers and magazines in three countries, covering everything from the oil and gas industry in northern British Columbia to North Korean defectors in Seoul.

Cannabis firm Tilray reports $341 million net loss in last stand-alone quarter

Tilray’s recreational and medical cannabis revenue plunged in the final quarter before its merger with Aphria went into effect May 3, and the company recorded a net loss of nearly $350 million. Tilray’s red ink rose in part due to a large litigation settlement, according to the British Columbia-based company’s first-quarter financial disclosure. Before merging […]

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Cannabis firm Cronos’ CEO gets CA$12 million-plus in partial-year pay

Canadian cannabis producer Cronos Group paid CEO Kurt Schmidt more than $10 million (12.2 million Canadian dollars) in salary and other compensation in 2020, according to the Toronto-based company’s recently disclosed proxy circular, even as the operation continued to lose money. Schmidt’s compensation reflects a salary and bonus that covers only the part of the […]

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Green Organic Dutchman plans cannabis greenhouse sale by summer

Canadian producer Green Organic Dutchman expects to sell its massive greenhouse in Salaberry-de-Valleyfield, Quebec, by the end of June, becoming the latest company to unload a cultivation facility amid a glut of cannabis. As recently as last summer, The Green Organic Dutchman (TGOD) had said the structure was “expected to be the largest organic cannabis […]

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Cronos reports $161 million net loss on cannabis revenue of $12.6 million in Q1

Canadian cannabis producer Cronos reported a net loss of $161 million (195 million Canadian dollars) for its January-March quarter on net revenue of only $12.6 million, according to its quarterly financial statement released Friday. The Toronto-based company’s operating loss for the quarter was $43.5 million. Revenue was well below analyst expectations of around $16 million […]

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Aurora Cannabis CEO discusses greenhouse ‘arms race’ and firm’s future

Aurora Cannabis CEO Miguel Martin might have one of the hardest jobs in the marijuana industry – turning around a company that has lost billions of dollars and been producing far more product than it could sell. In short, the Canadian company Martin inherited eight months ago was in deep trouble – and he’s not […]

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Canadian cannabis extracts topped CA$324 million in sales in 2020

Sales of cannabis extracts and concentrates tripled between the first and final quarter of last year, ending 2020 with roughly 324 million Canadian dollars ($265 million) in retail sales, according to new Statistics Canada data. It was the first full year of sales for products such as cannabis vaporizers, which started their slow rollout at […]

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Tilray, Aphria complete blockbuster marijuana merger

Once-rival cannabis producers Tilray and Aphria completed their megamerger, the new company announced Monday, forming one of the biggest diversified marijuana, hemp and beer companies in the world. The new company will operate under the Tilray corporate name, with shares trading on the Nasdaq under the ticker symbol TLRY. The merger talks took more than […]

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Organigram CEO Engel exits struggling marijuana producer

Greg Engel, longtime CEO of Moncton, New Brunswick-based marijuana producer Organigram Holdings, is stepping away from the struggling business, effective immediately, the company said early Monday. No reason was given for Engel’s departure. The current board chair, Peter Amirault, will oversee day-to-day management of the company until a permanent CEO is appointed. Engel will stay […]

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Canadian cannabis retailer High Tide buying US CBD company for $20.6M

Calgary, Alberta-headquartered High Tide is again dipping its toes in the U.S. acquisition market, this time with a definitive agreement to buy FabCBD, a Milwaukee-based e-commerce marketplace for hemp-derived CBD products and accessories. High Tide announced early Monday it is acquiring 80% of Fab Nutrition, which does business as FabCBD, for $20.6 million ($25.4 Canadian […]

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Cannabis sales decline in every large Canadian city in February

Retail sales of recreational cannabis declined in February from the previous month in every major Canadian city tracked by Statistics Canada, according to the latest data from the country’s federal statisticians. Across Canada, regulated cannabis sales took a breather in February, falling 5.9% from January to 263 million Canadian dollars ($213 million). The sales figures […]

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Canada’s unsold cannabis inventory levels off at 1.1 billion grams

Canada’s unsold cannabis inventory remains close to an all-time high, but the glut may be showing signs of easing as production fell sharply in December. The amount of unsold dried cannabis held in stock by cultivators, processors, wholesalers and retailers levelled off in December at 1.14 billion grams, down slightly from a month earlier, according […]

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Canadian cannabis edibles sales top CA$100 million in first year

Canadians purchased 109 million Canadian dollars ($87 million) worth of recreational cannabis edibles in 2020, the first full year they were available in the country, according to data recently published by Statistics Canada. While that’s only 4.2% of all regulated cannabis sales last year, experts see significant growth happening in the coming year as inventory […]

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