Australia’s medical cannabis industry remained in robust health during the first half of 2023, according to data from the Therapeutic Goods Administration (TGA), the country’s medicine and therapeutic regulatory agency.
A group that was supposed to have been created by the Canadian government almost two years ago to shine a light on major issues confronting the nation’s struggling cannabis industry is, for the first time, showing signs of life.
Canadian cannabis producer Tilray Brands narrowed its loss to $56 million ($77 million Canadian dollars) in the first quarter on record sales of $177 million, the company said in its financial results for its first quarter of fiscal year 2024.
Canadian producer Aurora Cannabis received gross proceeds of 38.8 million Canadian dollars ($28.3 million) from a bought deal offering after the underwriters’ over-allotment option was fully exercised.
Australia-based medical cannabis company ECS Botanics Holdings has secured a binding offtake agreement to supply dried flower to MediCann Health Pty.
Canadian cannabis producer Tilray Brands has agreed to pay rival producer MediPharm Labs a settlement package worth 9 million Canadian dollars ($6.6 million).
Cannabis-related agricultural businesses based in Alberta are eligible for provincial funding under two programs if they meet certain requirements, the Ministry of Agriculture and Irrigation told MJBizDaily.
A startup phase for a pilot program to allow limited cultivation and distribution of adult-use cannabis in the Netherlands is set to launch in December with only two cultivators, the Dutch government disclosed in a letter to Parliament.
More Canadian cannabis companies are tapping government funding sources to finance research and other projects as private-sector capital has become harder to come by.
Federally licensed cannabis producers are now allowed to provide authorized stores in British Columbia with product samples for a nominal fee to help them promote products.
Marijuana producer Organigram Holdings filed a preliminary short-form base shelf prospectus to raise up to 500 million Canadian dollars ($370 million) by issuing securities over a 25-month period.
A group of licensed cannabis retailers in British Columbia lost their bid to be compensated for the province’s alleged failure to “adequately” enforce provincial licensing requirements on Indigenous reserves.
