Edmonton, Alberta-based Aurora Cannabis saw its net loss improve to 11.8 million Canadian dollars ($9.5 million) in its quarter ended Sept. 30 on growing sales of medical marijuana, according to the company’s first-quarter results released Tuesday.
Matt Lamers
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Hexo shutting marijuana facilities it recently acquired, laying off 155
Quebec-based Hexo Corp. is shutting down three facilities and laying off staff as part of an integration plan following an acquisition spree it went on this year worth roughly 1.2 billion Canadian dollars ($960 million).
Canada’s Aurora buying stake in Dutch cannabis grower
Edmonton, Alberta-based Aurora Cannabis is investing “a significant equity stake” in upstart Netherlands-based Growery B.V., one of only 10 lottery winners selected to cultivate and distribute adult-use marijuana to retailers under a government-backed pilot program.
Pure Sunfarms sees steady growth in Canadian cannabis sales, profit
Licensed cannabis producer Pure Sunfarms reported a growing profit for its July-September quarter on the back of organic sales growth in its key markets of Ontario, Alberta and British Columbia.
Power REIT ups funding of Michigan marijuana greenhouse to $25.6 million
Power REIT finalized a lease amendment to fund additional upgrades to a cannabis greenhouse cultivation facility in Michigan.
Canopy closing Niagara-on-the-Lake cannabis greenhouse, laying off 30
Beleaguered Canadian cannabis producer Canopy Growth Corp. is closing another massive greenhouse and laying off staff as part of the Smiths Falls, Ontario-based company’s efforts to cut costs amid ballooning losses.
Canopy reports growing cannabis loss, no longer expects profitable 2021
Canopy Growth Corp. says it no longer expects to be profitable this year, citing supply and market share challenges in its home country of Canada.
Tilray’s share of Canadian cannabis market plummets, but Auxly shines, data shows
Canadian cannabis producer Tilray has seen around one-third of its market share in Canada evaporate since it merged with Aphria in May, new data suggests, while rival Auxly Cannabis Group has more than doubled its position over the same period.
Colombian cannabis firm Flora to buy California vape brand for $30 million
Colombian cannabis firm Flora Growth reached a definitive agreement to acquire Carlsbad, California-based Vessel Brand for $30 million.
Casa Verde invests $3.5M in Berlin-based cannabis firm Sanity Group
Venture capital firm Casa Verde Capital invested $3.5 million (3 million euros) in Berlin-based cannabis startup Sanity Group.
Organigram doubled Canadian cannabis market share since January
Moncton, New Brunswick-based Organigram Holdings is growing its share of cannabis for Canada’s legal market, the company said in a corporate update on Monday, while most other large licensed producers are seeing their share decline.
TGOD, eyeing US marijuana market, acquiring Galaxie for CA$21 million
Mississauga, Ontario-based The Green Organic Dutchman reached a definitive agreement to acquire Galaxie Brands Corp., a licensed producer specializing in marijuana pre-roll manufacturing, edibles, vapes and oils.
