The independent auditor for Canadian marijuana company CannTrust has taken the uncommon step of withdrawing its report on the Ontario company’s financial statements for the quarter ending March and full-year 2018.
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Lesotho planning overhaul of medical cannabis rules
A revamped round of regulations is in the works in Lesotho that would spell out new guidelines for awarding medical cannabis business licenses in the southern African nation, Marijuana Business Daily has learned.
CannTrust hires adviser to explore possible sale amid cannabis scandal
A week after CannTrust Holdings fired its CEO over a scandal involving unlicensed marijuana cultivation, the Canadian producer hired a financial adviser to review “strategic alternatives,” including a possible sale of the company. CannTrust said an internal committee...
Canadian bank’s ‘unfair’ cannabis fees add to financial hurdles for lottery hopefuls
One of Canada’s top lenders is charging prospective cannabis business owners thousands of dollars for a routine review of financial documents, imposing an added cost on entrepreneurs who want to enter Ontario’s upcoming lottery for the right to open a marijuana retail store.
South Korean medical cannabinoid imports surpass 300 units since law passed
South Korea saw just over 300 approved imports of cannabinoid-based medicines in the first few months of the country’s newly regulated medical cannabis program, a volume that underwhelmed local experts who expected demand to be much higher. Almost all the medical...
CannTrust chaos continues with ousting of CEO, chair resignation
Ontario, Canada-based licensed producer CannTrust fired its chief executive, Peter Aceto, “with cause” Thursday amid an ongoing scandal involving unlicensed cannabis cultivation that has enveloped the marijuana industry in Canada for weeks.
Israel sees commercial medical cannabis imports, but still no exports
An Israeli company was granted a license to import and commercialize medical cannabis, marking an industry first in a country that expects marijuana exports to be an economic driver for the sector.
British Columbia, Quebec lead Canada’s marijuana sales higher in May
Canada’s adult-use cannabis sales jumped 14% in May on the back of new store openings in British Columbia and Ontario as well as longer store hours in Quebec - three markets that account for about three-quarters of the country’s consumers. Across the country, sales...
Israel throws medical cannabis industry curveball with new price control plan
The Israeli Ministry of Health is introducing a price control plan for medical cannabis that does not include a reimbursement mechanism, disappointing industry experts who had hoped the medicine would be added to the country's “basic health basket." The new pricing...
First medicinal cannabis licenses awarded in Saint Vincent and the Grenadines
Local and international businesses in the southern Caribbean nation of Saint Vincent and the Grenadines scooped up the islands’ first-ever licenses to cultivate commercial medical cannabis, the nation's marijuana regulator announced. Hundreds more are in the pipeline,...
Cannabis firm Valens beats expectations with CA$8.8 million quarterly revenue
Valens GroWorks’ revenue shot up nearly threefold to 8.8 million Canadian dollars ($6.7 million) in the last fiscal quarter on strong demand for its white-label services ahead of Canada’s infused cannabis market launch later this year. The revenue was ahead of analyst...
British Columbia slow to call for infused cannabis products as launch date nears
With fewer than 100 days to go before the launch of Canada’s hotly anticipated infused cannabis market, British Columbia’s government-run wholesaler has yet to issue a call for any new products. The BC Liquor Distribution Branch (LDB) - the monopoly wholesale...
