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.
Ontario’s cannabis store regulator is facing calls to crack down on alleged pay-to-play schemes that some industry executives say allow larger marijuana producers and brands to secure prime shelf space for their products and other special treatment from retailers.
Cannabis producer Organigram Holdings said its sales soared in the fourth quarter and for the year ended Aug. 31, rising to 45.5 million Canadian dollars ($33.5 million) and $145.8 million, respectively.
Vancouver, British Columbia-based cannabis producer Rubicon Organics said it recorded adjusted EBITDA profitability, net profit from operations and positive free cash flow in its quarter ended Sept. 30.
The Canadian cannabis operations of U.S. produce company Village Farms International reported net income of 200,000 Canadian dollars ($148,000) and positive adjusted EBITDA of CA$6.7 million for its third quarter period ended Sept. 30.
Canadian cannabis producer Canopy Growth reported a net loss of 231.9 million Canadian dollars ($172 million) in its second quarter, reflecting “non-cash fair value changes” as well as a jump in asset impairment and restructuring costs.