Struggling cannabis producer Hexo Corp. is cutting 180 jobs as part of its bid to reduce corporate spending by approximately one-third through the end of next year.
Matt Lamers
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Canopy Growth loses CA$115 million in quarter on lower cannabis sales
Canopy Growth reported a net loss of 115 million Canadian dollars ($90 million) in its quarter ended Dec. 31, 2021, on lower cannabis sales in its important Canada market.
Auxly closes Nova Scotia marijuana facilities, cutting 55 jobs
Toronto-based Auxly Cannabis Group closed its marijuana cultivation facilities in Kentville and Hortonville, Nova Scotia.
Ontario’s marijuana store regulator clarifies ‘inducement’ rules, bans house brands
The regulator overseeing Ontario’s huge network of marijuana stores has provided long-awaited details clarifying the types of incentives, or “inducements,” that federally licensed producers can and can’t dole out to retailers that might carry their products.
Australian cannabis firm Little Green Pharma to ‘demerge’ psychedelics unit
Australian cannabis producer Little Green Pharma says it plans to “demerge” the ownership of its psychedelics unit, Reset Mind Sciences, so the respective companies can pursue their strategies as independent businesses.
Canopy vows to ‘forge forward,’ says no mold issues in marijuana greenhouses
An executive at Canadian licensed producer Canopy Growth acknowledged that images circulating on social media depicting cannabis plants laden with powdery mildew were taken at its facility in Smiths Falls, Ontario.
However, Mario Castillo, vice president of manufacturing, said the photos are not representative of Canopy’s cultivation operations.
Delta 9 Cannabis, citing profitability, secures CA$32 million in low-interest credit
Winnipeg, Manitoba-based Delta 9 Cannabis entered into a binding commitment letter with ConnectFirst Credit Union to secure 32 million Canadian dollars ($25.6 million) in low-interest credit facilities.
2 Canadian cannabis issuers put on notice by Nasdaq over low stock prices
At least two large Canadian cannabis companies have been notified by the Nasdaq that their shares do not meet the stock exchange’s listing standards.
Canadian cannabis sales could top CA$4.8 billion in 2022, analyst forecasts
Canada’s recreational marijuana sales could reach 4.8 billion Canadian dollars ($3.8 billion) this year, which would be 19% more than 2021’s estimated figure, a new report from ATB Capital Markets anticipates.
Australia’s new cannabis import rules could leave non-GMP producers in the cold
Australia’s Department of Health, preparing to overhaul its medical cannabis regulations, is poised to require that all products imported into the country’s small but growing market be produced in accordance with Good Manufacturing Practice (GMP).
Cannabis company BC Craft Supply seeks creditor protection
Vancouver, British Columbia-based BC Craft Supply Co. filed for temporary protection from creditors under Canada’s Bankruptcy and Insolvency Act while the craft marijuana firm pursues restructuring.
Ex-chair of cannabis producer WeedMD gave friend insider information, watchdog alleges
A former chair of Canadian cannabis producer WeedMD illegally tipped off a longtime acquaintance about an unannounced greenhouse deal, which led to insider trading, Ontario’s securities regulator has alleged.
