Recreational marijuana stores in Massachusetts launched back into action on Memorial Day, ending a two-month closure that might have collectively cost those retailers nearly $2 million per day. Massachusetts dispensary operators interviewed by Marijuana Business Daily reported strong consumer demand at reopened adult-use stores on Monday. The challenge, many said, was meeting that demand in […]
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Tilray closing High Park Gardens cannabis greenhouse
British Columbia-based cannabis cultivator Tilray is the latest Canadian firm to throw in the towel on large greenhouse cultivation, announcing it will shutter its High Park Gardens facility in Leamington, Ontario. The greenhouse, with 406,000 square feet of licensed growing space, was part of Tilray’s deal to acquire Natura Naturals Holdings for 70 million Canadian […]
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Cannabis producer Aphria moving US listing to Nasdaq from NYSE
Canadian cannabis cultivator Aphria is moving its U.S. stock listing to a new venue, departing the New York Stock Exchange (NYSE) in favor of the Nasdaq Global Select Market. The move will take place after markets close on Friday, June 5. Shares of Aphria will start trading on the Nasdaq as of Monday, June 8 […]
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Manitoba to open cannabis store market ‘to all prospective retailers’
Manitoba will soon begin taking applications for new cannabis store licenses, opening up the recreational marijuana market in the central Canadian province to all comers. Applications will be accepted starting June 1, but the province will process only one location per applicant at a time. Applicants without any existing stores in Manitoba will be prioritized, […]
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Canadian cannabis sales surged in March amid COVID-19, data shows
Retail sales of regulated cannabis in Canada soared in March, growing 19% on a monthly basis to a record 181 million Canadian dollars ($129 million). The March retail sales figures from Canada’s national data bureau confirm what industry sources told Marijuana Business Daily that month: Consumers flocked to cannabis stores to stock up as public […]
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Prince Edward Island to reopen cannabis stores with restrictions
Licensed recreational cannabis stores in Prince Edward Island will reopen on May 22 “with limited access,” the government-operated marijuana retailer announced. All four PEI Cannabis stores on the island were closed on short notice in March in response to the COVID-19 pandemic, although online sales continued. The reopened stores will feature public health measures, including: Restricting […]
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Cannabis firm Green Growth Brands gets initial creditor protection
Ohio-based marijuana retailer Green Growth Brands said Wednesday it has filed for insolvency protection in Canada. The financially troubled multistate operator – with operations in Florida, Massachusetts and Nevada – trades on the U.S. over-the-counter markets as GGBXF and on the Canadian Securities Exchange as GGB. Former Green Growth Brands CEO Peter Horvath, who resigned from the […]
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Cannabis stores coming to Canada’s remote Nunavut territory
The government of Nunavut will soon accept applications for cannabis stores, bringing bricks-and-mortar recreational marijuana storefronts to the only Canadian jurisdiction that still doesn’t have any. License applications will be accepted starting June 1 through the territory’s department of finance. “Nunavut’s cannabis legislation and regulations have a broad range of requirements that licensed cannabis retailers […]
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Cannabis sector lender Trichome successful in bid for James E. Wagner
Trichome Financial Corp. has been declared successful in its stalking horse bid for Ontario-based James E. Wagner Cultivation Corp. (JWC), the latter company announced Tuesday. JWC, which entered creditor protection earlier this year, plans to seek a court order approving the bid as “as soon as possible,” according to a news release. Toronto-based cannabis sector […]
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COVID-19 sharpens focus on digital cannabis marketing in Canada
A captive audience in search of digital distraction, combined with boosted cannabis demand during the COVID-19 pandemic, means Canada’s marijuana businesses have an opportunity to fine-tune their online marketing and branding strategies, marketing experts say. Even though Canadian cannabis producers and retailers are largely excluded from traditional advertising by law, they can nevertheless employ some […]
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As outdoor cannabis approvals grow in Canada, COVID-19 not expected to delay planting season
Health Canada approvals for outdoor cannabis cultivation have increased by more than 25% in the past few months, and growers are bullish for now despite the COVID-19 pandemic that’s encroaching into planting season. Canadian outdoor cannabis producers contacted by Marijuana Business Daily said they expect their open-air crops will proceed as usual this year. For example, […]
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Organigram posts revenue decline, net loss in second quarter
Organigram Holdings Corp. saw net revenue decline on a quarterly basis in the second quarter of its fiscal year, from 25.2 million Canadian dollars ($18.1 million) in the first quarter of 2020 to CA$23.2 million in the quarter ended Feb. 29. Medical, wholesale and international revenues all declined in the latest quarter, the New Brunswick-based […]
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The pandemic pivot and how cannabis companies reacted to COVID-19.