Calgary, Alberta-based SNDL reported a net loss of 372.4 million Canadian dollars ($275 million) for 2022, up substantially over 2021’s CA$226.8 million, due partly to asset impairments in its cannabis retail division.
Matt Lamers
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Indigenous leaders call on Canada to amend Cannabis Act
Indigenous leaders are calling on Canada’s federal government to amend the Cannabis Act to allow for their “fulsome” participation in the marijuana industry after First Nations were largely excluded from the 2018 law legalizing adult-use marijuana.
Canada’s 6th-largest city overturns cannabis store ban
Mississauga, the sixth-largest city by population in Canada, voted to allow legal cannabis retail stores to set up shop within the city.
Uber Eats, Leafly to offer cannabis order service in British Columbia
Uber Eats is partnering with online marijuana platform Leafly to offer delivery of cannabis products in British Columbia starting April 18.
Quebec homegrown cannabis ban constitutional, Canada’s high court rules
Canada’s Supreme Court on Friday upheld Quebec’s prohibition on homegrown cannabis, ruling that a provincial ban on possessing and cultivating marijuana plants for personal purposes is constitutional.
Israel’s medical cannabis patient growth slows as industry awaits major reform
The growth in Israel’s medical cannabis industry has slowed over the past several months, but experts say regulatory changes are afoot that could reinvigorate patient numbers if the country’s tumultuous political situation stabilizes.
Germany unveils scaled-down recreational cannabis legalization plan
The German government is backpedaling on its plan to implement nationwide recreational cannabis legalization, instead opting for a two-track, scaled-down approach with limited commercial opportunities – for now.
Canadian cannabis producer Phoena winds-down business, blames high taxes
Canadian cannabis producer Phoena Group, formerly known as CannTrust, has been granted creditor protection and is winding down its operations, the company said in court documents.
Tilray discloses $1.2B quarterly loss, plan to buy cannabis rival Hexo for $56M
Canadian cannabis producer Tilray Brands reported a net loss of $1.2 billion (1.5 billion Canadian dollars) for its quarter ended in February and said it agreed to buy troubled rival Hexo Corp. for $56 million.
European cannabis execs would welcome German trial legalization program
European cannabis executives would welcome a decision by the German government to pursue a trial recreational cannabis program versus nationwide legalization – even if that meant a significantly smaller market for businesses to pursue.
British Columbia cannabis growers left out of carbon-tax rebate
British Columbia is launching a carbon-tax rebate program for the province’s greenhouse growers “to help them preserve their cash flow.”
Germany might pivot to ‘cannabis legalization light’ amid EU pushback
The German government might be having second thoughts about its plans to pursue full-fledged adult-use cannabis legalization in Europe’s largest economy.
