Retail sales of adult-use cannabis in Canada grew yet again in July, increasing by 15.2% over June’s record to another high of 231.6 million Canadian dollars ($175.6 million).
Solomon Israel
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Canadian cannabis events firm Lift & Co. files for bankruptcy
Lift & Co. Corp., a Toronto-based cannabis events and marketing firm, has filed for bankruptcy.
Canadian cannabis retailer High Tide posts sequential revenue growth
Canadian cannabis retail chain High Tide reported revenue of 23.2 million Canadian dollars ($17.6 million) for the quarter ended July 31, an 18.6% increase over the previous quarter’s revenue.
Canopy Rivers’ cannabis joint venture PharmHouse gets creditor protection
PharmHouse, a Canadian cannabis joint venture partly owned by venture-capital firm Canopy Rivers, received an initial court order granting creditor protection while the company explores restructuring.
Two Canadian cannabis retail chains report sales growth, net losses
Two of Canada’s biggest cannabis retail chains have posted increasing quarterly revenues as the nation’s adult-use marijuana market continues to grow.
Canada’s cannabis concentrate market slowly comes to life, revealing producers’ strategies
As cannabis concentrates become more widely available in Canada’s regulated adult-use marijuana market, new products illustrate the variety of roles such merchandise can fill for producers.
Marijuana firm Cronos replaces CEO with consumer packaged goods veteran
Cronos Group has become the latest Canadian cannabis company to shake up its top ranks, replacing former CEO Mike Gorenstein with experienced consumer packaged goods executive Kurt Schmidt.
Cannabis MSO Columbia Care to buy California firm in $69 million deal
Multistate operator Columbia Care agreed to acquire Los Angeles-based marijuana grower and retailer Project Cannabis in a deal valued at $69 million. "The acquisition of Project Cannabis enables Columbia Care to materially increase its scale throughout California and...
Aurora appoints new CEO, signals revenue decline, massive write-downs
Aurora Cannabis has promoted Miguel Martin to CEO, while warning investors to expect declining quarterly revenue and write-downs of up to 1.8 billion Canadian dollars ($1.37 billion) when it reports fourth quarter results in two weeks.
Quebec cannabis stores post quarterly profit as sales grow
Quebec's monopoly cannabis retailer Société québécoise du cannabis (SQDC) has posted a net profit of 9.7 million Canadian dollars ($7.4 million) for the quarter ended June 20, on quarterly sales of CA$110.4 million. SQDC's profit increased by CA$8.4 million over the...
California city rejects MedMen application for cannabis store license
Troubled multistate marijuana operator MedMen Enterprises was rejected for a conditional-use permit needed to open a planned retail outlet in Pasadena, California - the result of material changes, including management upheaval. The latest blow incurred by Los...
Aurora Cannabis faces lawsuit over sublingual-strip licensing agreement
Aurora Cannabis is being taken to court by CTT Pharma, a Canadian developer of drug-delivery technologies that alleges the marijuana giant is making a bad faith effort to avoid paying what it owes under a licensing agreement. A statement of claim filed Aug. 26 in the...
