Dried cannabis still rules Canada’s regulated recreational market, but its dominance over other categories is waning, new data shows.
Matt Lamers
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Marijuana SPAC Achari Ventures goes public in $100 million IPO
Achari Ventures Holdings Corp. I, a special purpose acquisition company (SPAC) formed to acquire non-plant-touching marijuana companies, went public on the Nasdaq Global Market.
Hexo CEO St. Louis departs cannabis firm amid sudden strategic reorganization
Ottawa, Ontario-headquartered Hexo Corp.’s longtime CEO, Sébastien St. Louis, is leaving the cannabis producer he helped create almost a decade ago, effective immediately.
Canada’s Canopy agrees to pay $297 million for right to buy US marijuana edibles maker Wana
Canopy Growth has struck a deal to buy leading U.S. edibles maker Wana Brands for $297.5 million in the latest wager by a large Canadian producer that the United States will eventually legalize marijuana.
Medical cannabis spending in Canada hits 5-year low in first half
Canadian spending on medical cannabis fell to a five-year low in the first half of 2021, according to new data from Statistics Canada, as recreational marijuana reached record sales and more patients arranged to grow their own plants. Patients in Canada spent 242...
Sundial buying alcohol, cannabis retailer Alcanna for CA$346 million
Calgary, Alberta-based cannabis producer Sundial Growers said it has reached a deal to buy Alcanna, Canada’s largest private liquor retailer, for 346 million Canadian dollars ($277 million) in stock.
Ontario making cannabis delivery permanent for province’s 1,000-plus stores
Ontario plans to permanently enable cannabis stores to offer delivery and curbside-pickup services, the Canadian province announced Thursday, a move that likely would provide a major boost for many of the province’s pandemic-hit, adult-use marijuana retailers.
Tilray CEO open to M&A in Canada as cannabis revenue misses target
Canadian cannabis producer Tilray reported net revenue of $168 million (210 million Canadian dollars) for the June-August quarter, the first full quarter of sales after the merger between Aphria and Tilray closed earlier this year.
Cannabis firm Tilray awarded CEO $13.2 million in cash bonuses this year
Canadian marijuana producer Tilray paid CEO Irwin Simon cash bonuses totaling $13.2 million (16.7 million Canadian dollars) so far this calendar year, on top of granting the chief executive a significant salary raise and millions more in share-based awards, according...
New research could prompt Canadian cities to rethink cannabis store bans
Opening more recreational cannabis stores from 2018 to 2020 helped to greatly increase Canada's legal sales but barely affected overall user numbers, according to new research from Brock University business professor Michael Armstrong. The...
Village Farms eyes Dutch adult-use marijuana market via option deal
Village Farms International struck a deal that gives the British Columbia-based cannabis company an option to purchase an 80% stake in Netherlands-based Leli Holland B.V., one of 10 lottery winners selected to cultivate and distribute adult-use marijuana to retailers under a government-backed pilot program unique for Europe.
Aurora Cannabis’ annual loss shrinks to CA$695 million in 2021
Aurora Cannabis lost 695 million Canadian dollars ($550 million) in its fiscal year ended June 30, 2021, according to its year-end financial statements, an improvement over the CA$3.3 billion net loss the Alberta-based company reported in 2020. The company’s net...
