Multistate cannabis operator iAnthus Capital Holdings received a demand for repayment on a secured debenture issuance as well as a notice of intention to enforce security under Canadian bankruptcy law.
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Aurora Cannabis to close five facilities, lay off 700 staff as part of restructuring
Aurora Cannabis is shutting down five smaller production facilities and cutting roughly 700 employees as part of a corporate transformation plan over its next two quarters, with the goal of centralizing production and manufacturing at “larger-scale and highly efficient sites.”
Curaleaf amends deal to acquire cannabis multistate operator Grassroots
Vertically integrated cannabis company Curaleaf Holdings revised its deal to acquire privately owned multistate operator Grassroots Cannabis. The stock and cash transaction was originally announced in July 2019 with a price tag of $875 million. But since then cannabis...
Canadian cannabis sales remain strong in April despite COVID-19 pandemic
Retail cannabis sales in Canada declined only slightly despite the COVID-19 pandemic, falling 0.6% from March's record high to 180.1 million Canadian dollars ($132.7 million) in April. The new monthly retail sales data from Statistics Canada bode well for Canada's...
Hexo completes sale of cannabis greenhouse acquired from Newstrike
Hexo Corp. completed the sale of the Niagara, Ontario-based cultivation facility it acquired as part of a 263 million Canadian dollar ($193 million) deal to buy Newstrike Brands last year.
Delta 9, Manitoba Hotel Association partner up with eye on lodging distribution
Manitoba cannabis producer and retailer Delta 9 Cannabis has inked a deal to be the “exclusive cannabis partner” of the Manitoba Hotel Association (MHA), a transaction that could promote development of new, hotel-operated cannabis stores in the province.
Cannabis firm Hexo to be dropped from benchmark Canadian stock index
Hexo Corp. is losing its spot on the S&P/TSX Composite Index, a benchmark group of stocks representing the Canadian equity market. The change will take effect June 22, according to a news release issued by index operator S&P Dow Jones...
Canada weighs regulatory fee deferral for cannabis firms due to COVID-19
Health Canada might give cannabis license holders a deferred deadline for paying their annual regulatory fees in light of the coronavirus pandemic. The federal health department is holding a two-week consultation to gauge industry feedback. A notice of intent for the...
Lawsuit: Tilray execs misled investors over ABG cannabis deal
A new lawsuit alleges the top brass of Canada-based cannabis company Tilray misled shareholders and engaged in insider stock sales during 2019 and early 2020.
Hexo posts improved third quarter with CA$19.5 million loss
Canadian cannabis cultivator Hexo Corp. posted a net loss of 19.5 million Canadian dollars ($14.5 million) for the quarter ended April 30 as recreational sales grew and operating expenses shrank from the previous quarter. Hexo's net loss decreased by 93% from the...
Bonify resumes selling adult-use cannabis in Canada after suspension
Manitoba cultivator Bonify Holdings Corp. is again selling recreational cannabis in Canada, a little over a year after the company's license to sell cannabis was suspended for sourcing illicit marijuana and selling it into the legal market. "Bonify will be supplying...
Alberta reports Canada’s first cannabis beverage recall
Alberta's provincial cannabis regulator is recalling multiple lots of cannabis beverages from Ontario-based AgMedica Bioscience's Vertical brand in what appears to be the first-ever recall of a regulated marijuana beverage in Canada. The products are being recalled...
