Calgary, Alberta-headquartered High Tide is again dipping its toes in the U.S. acquisition market, this time with a definitive agreement to buy FabCBD, a Milwaukee-based e-commerce marketplace for hemp-derived CBD products and accessories.
Matt Lamers
Matt Lamers's Latest Posts
Cannabis sales decline in every large Canadian city in February
Retail sales of recreational cannabis declined in February from the previous month in every major Canadian city tracked by Statistics Canada, according to the latest data from the country’s federal statisticians. Across Canada, regulated cannabis sales took a breather...
Canada’s unsold cannabis inventory levels off at 1.1 billion grams
Canada’s unsold cannabis inventory remains close to an all-time high, but the glut may be showing signs of easing as production fell sharply in December.
Canadian cannabis edibles sales top CA$100 million in first year
Canadians purchased 109 million Canadian dollars ($87 million) worth of recreational cannabis edibles in 2020, the first full year they were available in the country, according to data recently published by Statistics Canada. While that’s only 4.2% of all regulated...
Cannabis consumption grew in 2020, Statistics Canada data suggests
Recent reported cannabis use was much higher in the final quarter of 2020 than two comparable periods in 2018 and 2019, according to a new Statistics Canada report that studied pre- and post-legalization consumption trends. The report, however, cautions against...
Cannabis firm Tilray reduces minimum quorum after delayed investor meeting
British Columbia-based Tilray amended its bylaws to reduce the required quorum for shareholder meetings, the cannabis producer said in a news release. The move comes one day after the company postponed a special meeting regarding its pending merger with Aphria,...
Cannabis producer Hexo eyes US entry with CA$1.2 billion shelf prospectus
Canadian cannabis producer Hexo Corp. filed a preliminary short form base shelf prospectus that could enable it to raise up to 1.2 billion Canadian dollars ($960 million) in capital over a 25-month period. Once the prospectus is finalized, Ottawa-headquartered Hexo...
Toronto-based Flowr exits Australia, Uruguay, Spain cannabis markets
Toronto-headquartered cannabis company Flowr Corp. is slashing its workforce and pulling out of noncore markets – including Australia, Uruguay and Spain – as part of a strategic review intended to put the business on firmer financial footing.
Organigram reports CA$66.4 million loss on falling cannabis sales
New Brunswick-based cannabis producer Organigram’s net revenue fell to a multiyear low of 14.6 million Canadian dollars ($11.6 million) in its December 2020-February 2021 quarter, the company said Tuesday. Organigram's revenue has trended lower since reaching an...
Aurora Cannabis leads Canada in market share decline while smaller companies gain, report says
Aurora Cannabis surrendered a greater share of Canada's recreational market last year compared to rival licensed producers - with Canopy Growth not far behind - as the companies look to get back on track after a woeful 2020 that brought major financial losses,...
Aphria loses CA$361 million as cannabis revenue plunges 24%
Leamington, Ontario-based cannabis producer Aphria reported a net loss of 361 million Canadian dollars ($287 million) for the three months ended Feb. 28, 2021, after its marijuana revenue plunged almost 25% over the previous three-month period. That brings Aphria’s...
Health Canada to cease monthly cannabis industry data releases
Canada’s federal health department will no longer be releasing cannabis industry data on a monthly basis, a spokesperson for Health Canada told Marijuana Business Daily, citing priorities related to the ongoing pandemic. “We are working in...
