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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.

Canada posts second straight month of record cannabis sales

Canada posted record cannabis sales for the second consecutive month in April, with adult-use marijuana retailers in British Columbia and Ontario leading the way. April’s online and in-store sales of regulated cannabis amounted to 309.7 million Canadian dollars ($251 million), 3.8% higher than March’s CA$298.3 million, according to Statistics Canada’s latest figures. British Columbia led provinces with […]

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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 consecutive months since Canada legalized adult-use marijuana in late 2018. For March, unpackaged […]

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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 licensed cannabis retailers and operates a cannabis distribution center, said fourth-quarter sales for the […]

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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 alcohol sales. The Nova Scotia Liquor Corp. (NSLC) reported in its year-end […]

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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. Included in the deal is a leased 14,850-square-foot indoor facility in Bowmanville, […]

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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 a toehold in the U.S. with which to expand and follows a similar optional agreement […]

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‘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 three months ended April 30 was CA$22.7 million, 31% lower than the previous quarter, and […]

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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. The Mississauga, Ontario-headquartered company has agreed to sell the greenhouse for 27 million Canadian dollars ($22.2 million) to another cannabis producer, Cannara Biotech, the companies jointly announced. TGOD […]

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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$537 million for the 2020-21 fiscal year, a substantial increase over the previous year’s CA$ $311.6 million in […]

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