Australia’s medical cannabis market could surpass 15,000 patient application approvals by the end of this year, with industry revenues totaling roughly 36 million Australian dollars ($25 million), according to an analyst’s forecast.
Matt Lamers
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Ascent to sell Canadian cannabis assets for CA$41 million
The Supreme Court of British Columbia has approved the sale of financially troubled cannabis firm Ascent Industries for 41.5 million Canadian dollars ($30 million), comprising CA$29 million in cash and the assumption of liabilities totaling some CA$12 million.
Medical cannabis sales climb in Canada after adult-use legalization
Sales of medical marijuana oil in Canada rose steadily in the months after recreational legalization, bucking a trend seen in some American states that also ended prohibition in recent years.
Israel’s prime minister contemplates adult-use marijuana legalization
Three weeks before the country goes to the polls, Israeli Prime Minister Benjamin Netanyahu said he would weigh legalizing cannabis if his party wins another term, The Jerusalem Post reported. So far, Canada and Uruguay are the only countries to have created regulated...
Canada’s dried cannabis supply builds as adult-use sales decline
The volume of dried adult-use cannabis sold in the regulated Canadian market fell in January while inventories continued to build, according to the latest data from Health Canada. In January, 5,330 kilograms of dried cannabis was sold through regulated channels across...
Billionaire Peltz joins Aurora Cannabis to advise on partnerships, expansion
Nelson Peltz will join Aurora Cannabis as a strategic adviser to help the company lock in partnerships and expand internationally – a move seen as a major vote of confidence for the Canadian company and broader marijuana industry.
About 20 workers form Ontario’s first marijuana industry union
Nearly two dozen Ontario Cannabis Store (OCS) employees agreed to unionize under the United Food and Commercial Workers Union (UFCW) banner, making them the first union members in Ontario’s fast-growing marijuana industry. The unionized workers are part of the OCSs...
EXCLUSIVE: Zimbabwe approves first license for private cannabis company
A Zimbabwe company says it received approval for its cannabis license, which will make it the first in the country to be permitted to commercially produce medical marijuana nearly a year after the nation legalized cultivation for medicinal and scientific purposes.
Canada warns marijuana companies over ‘age gating,’ online promotions
Canada’s cannabis regulator issued a lengthy warning to license holders concerning possible noncompliant promotional activities since the Cannabis Act went into force last fall. In a letter sent late last week, Corinne Guenette, director of Health Canada’s compliance...
Canada’s first indigenous-owned cannabis producer aims for June sales
One of six licensed cannabis producers in Canada with indigenous ties is aiming to take its products to market by June.
Seattle law firm sues US government over marijuana industry border bans
A Washington state law firm is suing the U.S. government in an attempt to gain “immediate” access to records it hopes will shed light on why some foreign nationals – particularly Canadians – have been denied entry to the United States because of their involvement in the legal cannabis industry.
Marijuana firm Cronos closes CA$2.4 billion investment from tobacco giant Altria
Altria Group’s record-breaking investment of 2.4 billion Canadian dollars ($1.8 billion) in Ontario-based cannabis producer Cronos Group closed Friday, completing what is so far the largest investment by a tobacco company in the cannabis space.
