Matt Lamers

Global cannabis industry raises whopping $2.7 billion in 2017

Medical marijuana companies around the world have raised $2.7 billion so far this year to capitalize on explosive growth in the industry, an almost 300% increase from the same time last year. More than half that total, $1.6 billion, was raised in Canada via 189 transactions, the Financial Post reported. The data was compiled by […]

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Aphria inks deal to secure CA$100 million for M&As, expansion

One of Canada’s largest medical marijuana producers announced a stock-purchase deal to raise 100 million Canadian dollars ($77.7 million) in capital, which it intends to apply to the construction of new production facilities globally and in Canada. To date in fiscal 2017, Aphria has raised CA$237 million, CFO Carl Merton told Marijuana Business Daily. This does not […]

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Third Canadian pharmacy strikes pact to be a medical marijuana supplier

Another Canadian pharmacy company has jumped into the medical marijuana business by locking up a supply agreement with a licensed producer, bringing to three the number of chain operators angling to enter the MMJ industry. Toronto-based Maricann Group has signed an exclusive deal with Lovell Drugs, Ontario’s oldest pharmacy chain. Financial terms were not disclosed. And unlike […]

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Aphria cutting US marijuana exposure amid delisting review

Aphria is scrambling to shed direct involvement in American medical cannabis businesses as it undergoes a delisting review by its stock exchange operator. The Leamington, Ontario-based company has been in the hot seat since the TMX Group – parent of the Toronto Stock Exchange and the TSX Venture Exchange – said companies with direct business […]

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Hydroponics firms expect ‘huge influx’ of Canadian customers

Hydroponics companies in Canada are already gearing up for an expected “huge influx” of customers once recreational marijuana is legalized in 2018. The potential home-grow market for adult-use cannabis is being compared to alcohol’s home brew segment, thus opening the door for entrepreneurs, The Globe and Mail reported. Some companies, such as British Columbia-based nutrient maker […]

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Senator raises specter of recreational cannabis legalization delay in Canada

Canada’s recreational marijuana industry might not be up and running until the end of 2018, an opposition senator has indicated, raising the specter of a months-long delay that would have major ramifications for businesses up and down the cannabis supply chain. “The costs of missing that deadline would be severe,” according to The Globe and […]

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First Nations in Canada want more control over legalized marijuana

Canada’s First Nations are demanding the right to regulate the sale and distribution of recreational marijuana in their communities, and some near urban areas want to adopt more business-friendly rules to create jobs and earn revenue. Chiefs representing some 630 reserves at the Assembly of First Nations last week were in general agreement that they, […]

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Prince Edward Island turns to government-run stores to sell recreational marijuana

Prince Edward Island plans to corner the market for recreational marijuana by limiting sales to government-owned retail locations, making it the latest province to bar entrepreneurs from investing in storefront opportunities. PEI will restrict recreational cannabis use to private residences, the provincial government announced Thursday, with potential for designated public spaces “at a later date,” […]

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Another Canadian medical marijuana producer inks pharmacy deal

CanniMed Therapeutics has entered into a definitive agreement with PharmaChoice to supply medical cannabis products to its 750 pharmacy locations across Canada. It’s the second time this week a licensed marijuana producer and a major pharmacy chain have joined forces on medical cannabis, following a partnership between Aphria and Shoppers Drug Mart. However, CanniMed’s deal with PharmaChoice is […]

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Manitoba’s Delta 9 strikes deal to raise CA$20M for cannabis cultivation and retail

Delta 9 signed a stock-purchase agreement to raise 20 million Canadian dollars ($16 million) to ramp up cultivation and bankroll its bid to become a retailer of recreational marijuana in Manitoba. The Winnipeg, Manitoba-based medical marijuana producer said in a news release it nailed down the bought-deal agreement with a group of underwriters led by […]

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Class-action suit against Canadian medical marijuana producer expands scope

The scope of a class-action lawsuit targeting Organigram has been expanded to cover allegations that the cultivator’s pesticide-tainted medical marijuana made patients sick before it was recalled. according to CBC News. The initial suit alleged that Organigram’s “design, development, testing, manufacturing, distribution, sale and marketing of its purported organic medical cannabis were negligent” and that […]

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Nova Scotia plans to sell recreational cannabis in government-run alcohol stores

The Nova Scotia government unveiled plans to sell recreational marijuana alongside alcohol in government-run stores, a move that essentially bars privately owned businesses from investing in retail opportunities. The province proposed that marijuana be sold in existing Nova Scotia Liquor Corp. stores to consumers 19 or older. The plan appears to run counter to public […]

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