Hexo Corp. is buying competitor 48North Cannabis Corp. in an all-stock deal worth approximately 50 million Canadian dollars ($41 million), the companies said Monday morning, continuing the Ottawa, Ontario-headquartered company’s recent acquisition spree. The planned...
Aurora Cannabis announced a shake-up of its board of directors and is eyeing tens of millions of dollars in additional cost savings as the Alberta, Canada-based company reported another large quarterly loss amid sharp drops in its adult-use and international sales....
Sundial’s revenue from recreational cannabis in Canada plunged by more than one-third in its most recent quarter compared to the previous period, as the company took a hit from price compression and provincial wholesalers culling slow-moving products. The Calgary,...
Canadian marijuana producer Pure Sunfarms reported a small increase in net sales in the January-March quarter compared to the preceding three months, bucking an industry trend in which most large licensed producers lost momentum in the early part of this year. British...
Tilray's recreational and medical cannabis revenue plunged in the final quarter before its merger with Aphria went into effect May 3, and the company recorded a net loss of nearly $350 million. Tilray's red ink rose in part due to a large litigation settlement,...
Canadian cannabis producer Cronos Group paid CEO Kurt Schmidt more than $10 million (12.2 million Canadian dollars) in salary and other compensation in 2020, according to the Toronto-based company’s recently disclosed proxy circular, even as the operation continued to...
Canadian producer Green Organic Dutchman expects to sell its massive greenhouse in Salaberry-de-Valleyfield, Quebec, by the end of June, becoming the latest company to unload a cultivation facility amid a glut of cannabis.
Canadian cannabis producer Cronos reported a net loss of $161 million (195 million Canadian dollars) for its January-March quarter on net revenue of only $12.6 million, according to its quarterly financial statement released Friday. The Toronto-based company's...
CEO Miguel Martin discusses lessons learned from Aurora Cannabis’ past and how the firm’s transformation plan will impact the future.
Sales of cannabis extracts and concentrates tripled between the first and final quarter of last year, ending 2020 with roughly 324 million Canadian dollars ($265 million) in retail sales, according to new Statistics Canada data. It was the...
Once-rival cannabis producers Tilray and Aphria completed their megamerger, the new company announced Monday, forming one of the biggest diversified marijuana, hemp and beer companies in the world.
Greg Engel, longtime CEO of Moncton, New Brunswick-based marijuana producer Organigram Holdings, is stepping away from the struggling business, effective immediately, the company said early Monday. No reason was given for Engel's departure. ...
