Cannabis producers are among the least reputable corporations in the eyes of Canadians – ranking alongside petroleum companies and others – largely because they remain unknown to the general public, according to a new survey measuring the reputations of nearly 300 businesses operating in Canada.
Struggling Canadian cannabis retailer Choom Holdings and its subsidiaries received an order for creditor protection from the Supreme Court of British Columbia.
Canadian cannabis producer Canopy Growth slashed approximately 8% of its workforce Tuesday as part of sweeping changes across the company designed to help stem recent losses and nudge the struggling company to profitability, MJBizDaily has learned.
Decibel Cannabis Co. recorded net income of 1.7 million Canadian dollars ($1.3 million) for the 2021 fiscal year and positive adjusted EBITDA of CA$7.4 million on the back of growing cannabis sales.
Struggling Canadian cannabis producer Hexo Corp. is closing its Belleville facility and transitioning its operations to other sites as part of a “strategic plan” to become cash-flow positive from operations.
Europe’s latest recreational cannabis trial program is set to begin in Basel, Switzerland, this summer.
Health Canada referred nearly 500 cannabis business-related cases to the Royal Canadian Mounted Police (RCMP) for possible enforcement action during the two years ending in March 2021, a major increase over fiscal year 2018-19.
Organigram reported positive adjusted EBITDA of 1.6 million Canadian dollars ($1.27 million) on the back of growing international medical cannabis sales in the second quarter, marking a key milestone for the Moncton, New Brunswick, producer.
Cann Group Limited, an Australian cannabis producer, said it has entered into an exclusive evaluation and option deal with GSK Consumer Healthcare, a subsidiary of U.K. drugmaker GlaxoSmithKline.
Tilray reported positive adjusted EBITDA of $10 million (12.5 million Canadian dollars) for the three months ended Feb. 28, about 24% lower than the previous quarter after its cannabis sales tumbled to $55 million in the three-month period.
Labatt Breweries of Canada, one of the country’s top beer makers, pulled the plug on its nonalcoholic CBD beverage unit in Canada, Fluent Beverages, signaling continued pressure on the nation’s fledgling infused-drinks category.
Canada’s federal cannabis regulator is streamlining the application process to reduce the regulatory burden facing standard and micro-class marijuana processing license holders, a move that’s intended to give new and existing licensees the ability to bring products to market more quickly.
