Calgary, Alberta-based cannabis firm High Tide and Chief Financial Officer Rahim Kanji have mutually agreed to part ways.
Matt Lamers
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Canadian wholesale cannabis prices are off more than 40% in 2022
Canadian cannabis wholesale prices tumbled more than 40% last year as companies continued to work through stubborn supply gluts and struggling cultivators chose to sell off their unsold marijuana instead of destroying it.
Colombia’s cannabis exports nearly doubled in 2022
Colombia’s cannabis exports were on pace to nearly double last year, as the South American country aims to meet demand in the small but growing international import market.
SNDL cutting 85 position as marijuana job losses near 1,000 in Canada
Calgary, Alberta-based SNDLÂ is cutting 85 jobs as a part of a plan to deliver approximately 9 million Canadian dollars ($6.7 million) in cost savings, making it the latest Canadian cannabis firm to cut staff.
Aurora posts positive adjusted EBITDA on marijuana sales growth
Edmonton, Alberta-based Aurora Cannabis posted positive adjusted earnings before EBITDA worth 1.4 million Canadian dollars ($1 million) in its second fiscal quarter of the year, the company announced late Thursday.
Cannabis producer Canopy cutting 800 jobs, closing flagship Canadian facility
Canadian cannabis producer Canopy Growth said Thursday it is closing its flagship cultivation facility in Smiths Falls, Ontario, and cutting more a third of its workforce as part of a shift to an “asset-light model” in Canada.
Hong Kong bans increasingly popular CBD products
A new law in Hong Kong bans the sale and production of CBD, imposing severe penalties and pulling the rug out of an increasingly popular market.
Cannabis producer Tilray quietly drops $4 billion sales target for 2024
Tilray Brands has quietly abandoned its pledge to achieve annual revenue of $4 billion (5.3 billion Canadian dollars) by the end of 2024, with analysts now predicting the North American cannabis producer will fall far short of that figure.
InterCure’s $35M purchase of Israeli marijuana producer Better scrapped
Israeli cannabis producer InterCure’s proposed acquisition of rival medical marijuana company Cann Pharmaceutical, also known as Better, was terminated after the companies failed to bridge differences.
Cannabis retailer High Tide sees sales double, inks deal with Germany’s Sanity
Calgary, Alberta-based High Tide lost 52.5 million Canadian dollars ($38 million) in its quarter ended Oct. 31, driven largely by noncash impairment charges of CA$48.6 million related to e-commerce platforms.
Argentina launches cannabis regulatory agency with eye on exports
Argentina launched a national regulatory agency for the hemp and medical marijuana industries, aiming to capitalize on the domestic and international markets.
Quebec court dismisses shareholder suit against cannabis producer Hexo
Hexo Corp. said it won the dismissal of a securities class action lawsuit that had been pending before the Quebec Superior Court against the Canadian cannabis producer and a former CEO.
