Saskatchewan cannabis nursery Mother Labs’ recent success securing 1.8 million Canadian dollars ($1.4 million) in federal funding shows how Canada’s cannabis industry can benefit from government financing at a time when capital is scarce.
Quebec’s government-owned cannabis retail monopoly says some of its locations where workers are on strike will be occasionally closed this summer because of the labor action, one for an indefinite time.
Ontario, Canada, cannabis store chain ShinyBud is expanding its retail portfolio with a plan to acquire independent pharmacies and aspirations to synergize those pharmacies with its adult-use stores.
A proposed bill in Pennsylvania would shield from prosecution banks, credit unions, and insurance companies that do business with legal marijuana companies in the state.
Calgary-based adult-use marijuana retail chain High Tide announced a deal to acquire nine stores from Choom Holdings, including two in British Columbia, six in Alberta, and one in Ontario, amid a consolidation trend in Canadian cannabis retail.
Cannabis technology company Akerna closed a public offering of shares and share purchase warrants, raising gross proceeds of roughly $10 million for debt servicing and other other purposes.
Canadian cannabis producer Auxly Cannabis Group sold its Auxly Annapolis indoor cultivation site in Kentville, Nova Scotia, for total proceeds of 6 million Canadian dollars ($4.6 million).
Marijuana real estate company Innovative Industrial Properties (IIP) amended a lease on a cannabis cultivation and processing property in Danville, Pennsylvania, operated by Green Thumb Industries, yielding a $55 million reimbursement for GTI’s development of a new building.
The Canadian government still has no publicly projected launch date for its mandatory review of the country’s 2018 recreational cannabis legalization law, more than eight months after the reappraisal was due to begin.
Quebec’s government-owned Société québécoise du cannabis (SQDC) cannabis retail monopoly ratified an agreement in principle with a group of workers represented by one union, although a strike by workers represented by another union remains unresolved.
Cannabis multistate operator iAnthus Capital Holdings closed a previously announced restructuring and recapitalization deal, then disclosed $25 million in new financing via senior secured notes.
Canadian cannabis producer Organigram said it has reached a “proposed settlement” over a class action lawsuit regarding pesticide-contaminated medical marijuana that the company recalled in late 2016 and early 2017.
