EMAIL: mattl@mjbizdaily.com
PHONE: 720.699.0794

Matt Lamers, International Editor

Matt is based in the Greater Toronto Area and covers international cannabis markets for Marijuana Business Daily. Previously, he worked as a business editor, photographer and reporter for newspapers and magazines in three countries, covering everything from the oil and gas industry in northern British Columbia to North Korean defectors in Seoul.

Cronos inks deal to buy cannabis MSO PharmaCann stake for $110 million

A subsidiary of Toronto-based Cronos Group purchased an option to acquire approximately 10.5% of PharmaCann, one of the largest privately held cannabis companies in the United States, for $110.4 million (134 Canadian dollars). The deal, if executed, would give Cronos a toehold in the U.S. with which to expand and follows a similar optional agreement […]

Read More

‘Craft absolutely surprised us,’ Hexo CEO says as cannabis sales plunge

Canadian cannabis producer Hexo Corp. lost almost 21 million Canadian dollars ($17.3 million) in its third quarter on revenue that came in substantially lower than expected, in part, because of increasing competition from craft marijuana companies. Net revenue for the three months ended April 30 was CA$22.7 million, 31% lower than the previous quarter, and […]

Read More

Deal reached to sell TGOD’s Quebec cannabis greenhouse at CA$200M loss

Canadian cannabis company The Green Organic Dutchman Holdings (TGOD) entered into an agreement to sell its greenhouse in Salaberry-de-Valleyfield, Quebec, for substantially less than the project’s total cost. The Mississauga, Ontario-headquartered company has agreed to sell the greenhouse for 27 million Canadian dollars ($22.2 million) to another cannabis producer, Cannara Biotech, the companies jointly announced. TGOD […]

Read More

Quebec’s cannabis store operator posts CA$66.5 million profit

Quebec’s government-run cannabis store operator, the Société québécoise du cannabis (SQDC), generated net income of 66.5 million Canadian dollars ($55 million) in its recently concluded fiscal year, according to its annual report. The SQDC reported annual sales CA$537 million for the 2020-21 fiscal year, a substantial increase over the previous year’s CA$ $311.6 million in […]

Read More

Hemp producer, marijuana software firm receive Canadian federal grants

A hemp producer and marijuana retail software company were among a group of small- and medium-sized businesses in Saskatchewan that received funding from the Canadian federal government. Alberta-headquartered Blue Sky Hemp Ventures received 749,115 Canadian dollars ($618,800) to upgrade a facility in Saskatchewan for hemp oil pressing and CBD oil refining, according to the announcement […]

Read More

Medical cannabis reimbursements for Canadian veterans soar past CA$100 million

Medical cannabis reimbursements by Veterans Affairs Canada reached an all-time high last year, offsetting an overall decline in spending among the general population. In the 2020-21 fiscal year ended March 31, Veterans Affairs Canada reimbursed 15,369 clients a total of 119.3 million Canadian dollars ($100 million) for medical cannabis products, according to the latest figures […]

Read More

Search underway for new heads of three provincial cannabis wholesalers

The three biggest adult-use cannabis wholesalers in Canada are seeking permanent leadership after a string of unrelated departures. The monopoly cannabis wholesaler and retailer in Quebec appointed an interim president to take over for the departing Jean-François Bergeron, the organization announced. Paul Furfaro, director of branch operations since 2018, will take the helm of the […]

Read More