The “full impact” of product for sale from Aurora Cannabis’ first major marijuana greenhouse in Canada won’t be realized until the end of June, 2½ years after construction started on the massive 150 million Canadian dollar ($113.7 million) facility.
Matt Lamers
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Another Caribbean nation to legalize medical cannabis, decriminalize adult use
After 15 months of public consultation, Saint Kitts and Nevis is ready to follow regional neighbors in developing a medical cannabis industry. In a statement to the National Assembly, Prime Minister Timothy Harris said the government will present necessary bills to...
Ontario’s lousy adult-use cannabis sales decline again; Canada sees modest growth
Ontario was the only province in Canada to see lower month-over-month sales of adult-use cannabis in December, according to new Statistics Canada data - the latest sign that the provincial government continues to struggle to get a handle on the new industry. Sales in...
Major Canadian pension fund loads up on cannabis stocks
One of Canada’s biggest pension managers increased its stake in Canopy Growth and took positions in three more Canadian cannabis companies recently, giving a vote of confidence to long-term investors in the booming industry. The Public Sector Pension Investment Board...
Cannabis giant Canopy cites ‘spreadsheet error’ for under-reporting adjusted EBITDA
Canada’s leading cannabis company, Canopy Growth, was forced to refile its management discussion and analysis (MD&A) with the Canadian Securities Administrators to correct adjusted earnings before interest, tax, depreciation and amortization (EBITDA). The original...
Report: Largest marijuana firms already control most of Canada’s regulated adult-use market
Canada's largest licensed cannabis producers already have a stranglehold on the country's regulated recreational market just four months into legalization, according to analysts. Canaccord Genuity estimates Canopy Growth and Aurora Cannabis combined represented almost...
Tilray to accelerate expansion into CBD with Manitoba Harvest acquisition
Cannabis giant Tilray is expanding into the natural foods category with the acquisition of hemp foods company Manitoba Harvest for 419 million Canadian dollars ($319 million) in cash and stock in an effort to capitalize on cannabidiol-infused products in North America.
Canadian government contracts up for grabs for cannabis businesses
From same-day delivery service in Ontario to paper bags for BC Cannabis Stores, millions of dollars in provincial government contracts are up for grabs for businesses looking to capitalize on legal marijuana. It’s especially important for Canadian businesses to pay...
Cannabis e-commerce firm Namaste reaches settlement with fired CEO
Namaste Technologies said it has reached “a mutually agreed upon settlement” with former chief executive Sean Dollinger in which the firm’s co-founder will step down from all formal roles with the company, including as a director. Dollinger will remain with the...
Canopy’s European cannabis production center expects first sales in September
Sales from Canopy Growth’s large cannabis production center in Denmark are expected to start in September, expanding the limited medical marijuana supply in the German market and giving a boost to the Canadian company’s international revenue. Canopy is among a number...
South Korea’s medical cannabinoid law to go into effect in March
A groundbreaking law legalizing medical cannabis in South Korea that takes effect March 12 will pave the way for the first import of certain THC- and CBD-based medications. Although approved products will remain tightly restricted, the new law marks a significant...
UK receives initial ‘bulk’ shipment of medical cannabis
The United Kingdom received its first-ever import of “bulk” medical cannabis this week, marking a milestone for a market that has so far relied on patient-specific imports to meet demand, experts say. The development represents a change in how cannabis enters the...
